Do you trade for money or emotional satisfaction?

[kolega]

Emotional satisfaction comes when I do everything right and receive income, not loss. Of course for me money is the main incentive. Although the feeling of winning is also nice.

[1714859895]

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[1714859895]

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[Silberman]

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.

You need to get rid of those emotions when you're trading, that is only going to make you lose money in the long run, I know it can be very difficult since people have a very strong attachment to their money and that is why you see that people celebrate when they earn a huge sum of money and they are very depressed when they lose it, but if you want to become a successful trader you have to do it.

[leviathon]

I read this somewhere. "Do you want to rich or be entertained as the choice is entirely yours."

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.

It’s in your best interest to focus on building your trading skills rather than on achieving a huge profit every month or to get emotional satisfaction.

[Karmakid]

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 trade for money because I want to earn. I am actually here in crypto to get a source of living without aiming for emotional satisfaction. What satisfies me is just to sustain the financial needs of my family and live a sustainable life through trading. I would love to earn better through it and that what satisfies me.

[deppil]

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.

No emotions just money. I have invested my money for earning more and more and not for mental satisfaction. When I earn a lot of money automatically I will be mentally relaxed and satisfied. Everyone here is for making money and nothing else. The world is working for their and their family’s financial strong life and not just for emotional satisfaction.

I think almost most traders do trading to earn money or maybe all users? I don't think that they are trading just for emotional satisfaction. I think that's a strange reason dude. if indeed you want to get the satisfaction you can get it into your wife. no need to clarify that everyone wants to profit from trading rather than satisfaction

[Pilotone]

During a successful trade I already get emotional satisfaction, but of course the ultimate goal is to get a good profit, both on short and long distances.

[sambuki]

We trade just to get money. When we achieve it, emotional satisfaction will come by its own. It is very straight forward, money is everything and whether we fail or success, emotional will be there.

[shaadsufi]

At this time I am trading for money because I want to fulfill my goals first and for that, I am working hard to earn good money and if I earn money from here I automatically get my emotional satisfaction.

[alizalela7]

I am satisfied with the transaction even though the money is high or low I am still satisfied with the decision of the village? Please let me know your self
o dont known emotional satisfaction?

[Clavulanic]

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.

No emotions just money. I have invested my money for earning more and more and not for mental satisfaction. When I earn a lot of money automatically I will be mentally relaxed and satisfied. Everyone here is for making money and nothing else. The world is working for their and their family’s financial strong life and not just for emotional satisfaction.

I think almost most traders do trading to earn money or maybe all users? I don't think that they are trading just for emotional satisfaction. I think that's a strange reason dude. if indeed you want to get the satisfaction you can get it into your wife. no need to clarify that everyone wants to profit from trading rather than satisfaction

There's no emotional satisfaction if we're talking about trading here, we always hope for the best profit gains. Our trading investments has limitless value no matter what happens, and even those old traders really hope and wait for their coins to grow at least one or two years. If a person has his goals of his savings, then without satisfactions he/she invest for another business to gain passive income which doesn't make the money stagnant.

[goku1525]

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.

No emotions just money. I have invested my money for earning more and more and not for mental satisfaction. When I earn a lot of money automatically I will be mentally relaxed and satisfied. Everyone here is for making money and nothing else. The world is working for their and their family’s financial strong life and not just for emotional satisfaction.

I think almost most traders do trading to earn money or maybe all users? I don't think that they are trading just for emotional satisfaction. I think that's a strange reason dude. if indeed you want to get the satisfaction you can get it into your wife. no need to clarify that everyone wants to profit from trading rather than satisfaction

There's no emotional satisfaction if we're talking about trading here, we always hope for the best profit gains. Our trading investments has limitless value no matter what happens, and even those old traders really hope and wait for their coins to grow at least one or two years. If a person has his goals of his savings, then without satisfactions he/she invest for another business to gain passive income which doesn't make the money stagnant.

We are here to earned good moneys by investing without emotions.The prices is our purpose here in where the most awaited,as a trader we need to adopt the technology and having positivity to get more earnings.

[--DarkSecrets--]

At this time I am trading for money because I want to fulfill my goals first and for that, I am working hard to earn good money and if I earn money from here I automatically get my emotional satisfaction.

So eventually it was both and in process you will get both as a results of your trading activity. You will be happy but first you need to earn and after that you will be emotionally satisfied. The only thing in trading is the money and the future it was an investment and not any fun times for only emotions.

[sana9826]

If you're greedy you will trade for both reason. Everyone wants to get money, but about satisfaction is nothing, because human satisfaction is impossible to be reached.

[Lannie25]

Of course Im trade for money, not to emotional satisfaction because that emotional satisfaction can sustain my needs and wants in terms of money in this business and aside from that business will always be a business. Emotional satisfaction cant good at all.

[mronezigger]

Am trading for money,all they time am putting into trading is not for emotional satisfaction but for money,I can't use because of emotional satification and risky my capital and time.

[p4npos]

I think everyone trades for earning money and it is not an easier job. The currency market plays with your emotions quite dramatically as anything can happened on the market in even a single second. So, you need to stay sharp all the time. Earning money is directly proportional to the market knowledge.

[otunayode]

First, you can not be satisfied emotionally when you are trading cryptocurrency. Second, trading imply that you are carrying out economic activities and that suggest you are looking for financial gain. Trader in essence trade for money!

[Fatunad]

First, you can not be satisfied emotionally when you are trading cryptocurrency. Second, trading imply that you are carrying out economic activities and that suggest you are looking for financial gain. Trader in essence trade for money!

Definitely true which i cant even see a connection why emotional satisfaction is being connected into trading since we do know on what we are aiming for if we do talk about trading crypto or any related things. We do this for money and thats signifies financial satisfaction and if you do seek out for emotional we can anytime to have relation with other people where emotion will really be relevant. Main reason why we do trade is to make MONEY. Period

[Silberman]

If you're greedy you will trade for both reason. Everyone wants to get money, but about satisfaction is nothing, because human satisfaction is impossible to be reached.

That is a mistake a person that is really greedy will only trade for one reason and one reason only and that is to obtain money, only those that are addicted to emotions will try to trade to obtain some kind of emotional satisfaction, but emotional satisfaction for most people will come from earning money that is why you feel happy when you receive your check after a few weeks of hard work.

[usmanov123]

It feels good to do smth good, isn't it?
I like the book by Cal Newport, he wrote about skills and satisfaction, happiness. And that rewards are important too, it should be totally altruistic