Do you trade for money or emotional satisfaction?

[dead_m92]

Emotional satisfaction will we get if we play in large numbers because if our capital is small emotional satisfaction's unlikely to be fulfilled. Fortunately, I trade just for profit I don't care how much profit I get, I am still satisfied with the results.

I'm on the opposite of you, i think the emotional satisfaction is gained if we're playing with the small amount because we actually don't care about the money.
And We're trading for money when we're trading with the large amount and we actually care about how much we will make.

With a small amount of money you are not gonna have any satisfaction if you win that trade.
That is why i am always using "medium size" amounts of money when i trade, if i win, i would be happy because of that.

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[maemunah]

When you have got other sources of income then you can trade for emotional satisfaction. But, I am trading for money, as I don't have other sources of income. At this young age, I need a lot of money to support my family.

All I want to have is money in order to survive and buy the needs of family .Right now, its difficult to earn money because I am unemployed and no other source of income .Our point in this crypto world is to earn a lot of money to live better lifestyle .

I also like that by choosing the trading job I want it is just money because for family needs and to trade in the world of crypto it can make it easier to earn big money and can live a better life too

[East2011]

I trade because i want to earn money. And if i earn good amount of money i can provide the needs of my family. Trading gives me some good profit.

[Oceat]

When you have got other sources of income then you can trade for emotional satisfaction. But, I am trading for money, as I don't have other sources of income. At this young age, I need a lot of money to support my family.

All I want to have is money in order to survive and buy the needs of family .Right now, its difficult to earn money because I am unemployed and no other source of income .Our point in this crypto world is to earn a lot of money to live better lifestyle .

I am trading because I want to earn more than I could, as much as possible I want to earn extra income here as well, for the security of our future, and I would love to quit my job too when time will come that I will finally earning here I would quit my job and will just focus on trading.

If you had a stable job, why do you have to quit? It is better if you had a stable job but it is quite irritating if you have a boss that you don't like or you hate your job. That's the kind of thing that's why most employee quitting to their jobs because of that factor. It is better to trade than to work on a small salary because you did compare the difference of trading versus working.

[mimienamphine]

Trading for emotional satisfaction?    I do not think so .Almost everyone here wants to make some money.It is true that your enjoyment can fall within your job at the same time but most often the money is put first in any of these things that we do.Who will sit down and waste precious hours just for emotional satisfaction.He could as well watch movies or play a game which gives better emotional satisfaction because there are no financial losses in game even if you lose.But in trading ,you can lose a  whole lifetime investment if you are not careful.

[almersyn]

DO YOU WANT TO BE ENTERTAINED OR RICH?…IT’S YOUR CHOICE

I came across this excellent chart the other day. It shows those times in history when the S&P 500 doubled over a ten year period and the trajectory that this doubling took.

Please see here for a relevant chart: https://www.tradinggame.com.au/want-entertained-rich-choice/ 

Much commentary that followed on twitter related to the steady low volatility climb that characterised the latest run and how boring this was. One of the interesting thing about markets and money in general is that people betray their true desires and personality.

Markets are the true window into the soul and in this instance what traders were actually saying is that they wanted to be entertained and not rich. The constant current moaning about the lack of volatility is little more than the plaintiff cries of children who bedevil their parents every school holidays with cries of …I’m bored.

This lay observation tallies with what others have found. The seminal work in this field of trader immaturity is An Analysis of the Profiles and Motivations of Habitual Commodity Speculators by W.B. Canoles, S.R. Thompson, S.H. Irwin, and V.G. France. I have summarised their findings below and have added my own emphasis.

“The typical trader assumes a good deal of risk in most phases of his life. He is both an aggressive investor and an active gambler.

 [He] does not consider preservation of capital to be a very high trading priority.

As a result, he rarely uses stop loss orders. He wins more frequently than he loses (over 51% of the time) but is an overall net loser in dollar terms. In spite of recurring trading losses, he has never made any substantial change in his basic trading style.

To this trader, whether he won or lost on a particular trade is more important than the size of the win or loss. Thus he consistently cuts his profits short while letting his losses run.

 He also worries more about missing a move in the market by being on the sidelines than about losing by being on the wrong side of a market move; i.e., being in the action is more important than the financial consequences.

Participating brokers confirmed that for the majority of the speculators studied, the primary motivation for continuous trading is the recreational utility derived largely from having a market position.

Numerous indications in our survey indicate that they are not trading solely or even primarily for profit, but may be maximizing excitement or the number of winning trades.”

So we come back to the original question. Do you want to rich or be entertained as the choice is entirely yours.

Author: Chris Tate
Article reproduced with kind permission of Tradinggame.com.au.

The article is concluded by the quotes below:


“It's in your best interest to focus on building your trading skills rather than on achieving a huge profit every month.” – Joe Ross

“No matter how good you may think you are, nobody is bigger than the market and it will beat you to your knees if you don't treat it with the respect it deserves.” - Adrian Alberts 

“Trading does not have to be very difficult — what can be difficult is finding the right path early on and properly understanding the major impact of your mental state on your trading results” - Gabriel Grammatidis 



www.tallinex.com wants you to be a successful trader


Trading realities: http://www.advfnbooks.com/books/unlockpotential/index.html

I think basically the purpose of trading is to look for multiplier benefits if emotional satisfaction is not the main thing. Yes, the satisfaction of each person is different but more focused on financial satisfaction rather than emotional

[--DarkSecrets--]

When you have got other sources of income then you can trade for emotional satisfaction. But, I am trading for money, as I don't have other sources of income. At this young age, I need a lot of money to support my family.

All I want to have is money in order to survive and buy the needs of family .Right now, its difficult to earn money because I am unemployed and no other source of income .Our point in this crypto world is to earn a lot of money to live better lifestyle .

I also like that by choosing the trading job I want it is just money because for family needs and to trade in the world of crypto it can make it easier to earn big money and can live a better life too

Most of the replies was for job and to earn money. The emotional satisfaction is also there when we win or gain profits. The main purpose of trading is to met our needs and wants next is emotional while it was very important to use it properly in trading activity.

[lushlife]

I'm planning making trading as my main source of income. since the day I started getting into crypto I'm having fun

[Rufsilf]

We trade for money, more than the satisfaction that we get when we are able to improve the lives our family, money is the main reason why we are trading. After you get money, after the success from trading, that's when we get the satisfaction from the thing we've done. It's not because how we will feel after we trade, it is about the needs that we have to get for our daily lives because without those, we won't get the satisfaction in life.

[ausbit]

I don't see trading crypto currency as an entertainment in any way but as some thing that brings profit to me at the end of my trade which simply mean that I trade for profit and not for entertainment purpose.

Trading is one of the trickiest and the most difficult thing to do amongst all other ways of earning money and that you need to work exceptionally well to do the right thing at the right time. trading is something which you need to take very much seriously and that it is not like that you take it for the sake of fun or emotional satisfaction as you have invested a lot of money into it which can be lost as well.

[Coin-1]

“The typical trader assumes a good deal of risk in most phases of his life. He is both an aggressive investor and an active gambler.

Personally I don't get any emotional satisfaction in the investing, trading or exchanging a currencies. Moreover, I try to reduce any negative risks in order to don't play a "gambling game". If I understand that I made a mistake, I become a distressed, because only me is responsible for my own financial decisions. I just want to get a profit.

[tiggytomb]

I would imagine that most people involved here would be trading for money, myself i would like to achieve a position where I would not need to work anymore and be able to live very comfortably, this is proving to take a little bit longer than expected, I fear I am maybe a little bit too cautious.

[anavir]

When you have got other sources of income then you can trade for emotional satisfaction. But, I am trading for money, as I don't have other sources of income. At this young age, I need a lot of money to support my family. So, If I can some, It would be good for my family.

same here mate...i  am not trading just for emotional satisfaction but because we need money for family's needs.I still have son who will be in college soon that is why we work hard to have money.Lucky are those who are trading just for emotional satisfaction.

[equoboy]

For money of course and i think most of us joined crypto world because of money at first but later on the emotional satifaction.

[Leonard2016]

You should look at it as a entertainment If you want to be a millionaire , Only if you are a billionaire!
Trading is a professional Job , A high class one , when You can do it any time , anywhere , But I look at it as a second job , because i want to trade relax and more comfortable .

[Lannie25]

I’m prefer to trade for money than emotional satisfaction in Order to achieve my dreams in the future, to be profitable and stable enough in financially matters to have a better life in the future.

[Serj007]

I also trade for money, because where I live with work is bad, I need additional income to get on my feet and I want to realize my dream, which you can not accomplish for one job

[Silberman]

When you have got other sources of income then you can trade for emotional satisfaction. But, I am trading for money, as I don't have other sources of income. At this young age, I need a lot of money to support my family.

All I want to have is money in order to survive and buy the needs of family .Right now, its difficult to earn money because I am unemployed and no other source of income .Our point in this crypto world is to earn a lot of money to live better lifestyle .

Be careful, while it is possible to earn good money with bitcoin and other cryptocurrencies it is very difficult to do that when you are not free to use your money to take advantage of the opportunities that present themselves, for example you could see that an ico is a very good investment but if you need that money to feed your family then you're never going to invest in that ico.

[javadevm8]

I like to gamble I am an addict so I just do it with crypto now. Usually it doesn't become completely worthless.

[waitforme]

All exchanges bring a lot of emotions to the trader, losing money when the market goes down the emotional start of anxiety, fear and thinking negative things can happen at any time. Exchanges bring profit. Emotion begins to get better with joy, confident thinking about wealth. The trade brought a lot of feelings to all the traders and me.