Do you trade for money or emotional satisfaction?

[zanezane]

Likely, if I'm too damn rich then maybe I'll trade just to satisfy my ego and tell myself I'm doing good. But no, I'm not that rich and money matters here that's why trading alts are too vital for me because in just one wrong move everything will ruin. Besides, I don't want to loss more than what will I gain.

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[TheKeyLongThumbI]

Likely, if I'm too damn rich then maybe I'll trade just to satisfy my ego and tell myself I'm doing good. But no, I'm not that rich and money matters here that's why trading alts are too vital for me because in just one wrong move everything will ruin. Besides, I don't want to loss more than what will I gain.

I agree. People like us only focus on money because we are not like those insanely wealthy fat pigs who are not doing a lot of effort to make money but they still have millions sitting in their banks. We still feel satisfaction but it is very , very rare.

[BeGoods]

Of course I trade for money for my families needs. I don't find trading as a means of fun and entertainment, maybe for other people but not for me.  I do trade to earn profits and as part of my families income.

I rarely hear people doing trades for fun or emotional satifications, maybe I hear them more often in gambling,
but for trading, I think most or just all traders have a goal to earn a profit, like you to finance your family needs...

[davehopepe05]

To me business is joy and life. I find the transaction very difficult, and it will be more difficult if it is the source of your family. It is possible to lose money at any time and you must use your profits to pay for these people.

[ausbit]

I'd like to use two phrase for this question.

"Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas." - Paul Samuelson

"A lot of people with high IQs are terrible investors because they've got terrible temperaments. And that is why we say that having a certain kind of temperament is more important than brains. You need to keep raw irrational emotion under control." - Charlie Munger


So, if I wanted emotional satisfaction, then I would have kissed my girlfriend for free lol

This is not a movie or theater to express our emotions but a business opportunity which is a modern opportunity and source where we start trading and make profit. Trading results in profit if you perform it under the light of market rules and principles otherwise it will be a fail attempt.

Trading will result in less profit if you trade for short term with Altcoin or Litecoin on the other hand it will give huge profit if trading is with Bitcoin for long term.

[BaraxLo]

I trade because of money and not for personal transactions. Money is a medium of exchange and money is a means for survival therefore money is really important. Trading is treated seriously if you are investing in cryptocurrencies as an extra income or a full time job for others.

Well both are the same things because if you trade for the money, it in turns gives you satisfaction and you are well off with having more money than actually having less.

Besides, this is a subjective topic and many people just do not think about the money and are altruistic in nature by which I mean to say they are satisfied only when they help others with the money they earn in Bitcoin. It is good to be a sad rich man that a sad poor man.

[DRVX]

Of course I trade for money for my families needs. I don't find trading as a means of fun and entertainment, maybe for other people but not for me.  I do trade to earn profits and as part of my families income.

For the money, certainly. What is the reason to get an emotional satisfaction if it does not help you and your family? I am not a greedy man but I think that trading is a very good way to earn a lot.

[Pamadar]

Of course I trade for money for my families needs. I don't find trading as a means of fun and entertainment, maybe for other people but not for me.  I do trade to earn profits and as part of my families income.

For the money, certainly. What is the reason to get an emotional satisfaction if it does not help you and your family? I am not a greedy man but I think that trading is a very good way to earn a lot.

Certainly, if you are doing this trade for money and you keep gaining then emotional satisfaction will follow, but the main goal still for money matters , mostly traders are here to take some risk they seen that this a another good venue to try their abilities, understanding and knowing how to play smart when you are inside exchange are you main tool when you are investing inside this market, we can say that when you earned a lot then your satisfaction really boosting up and you want to keep repeating it.

[i_iz_vins]

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 am not quite into trading but I have been trying it for the purpose of earning money. My friend recommended me to do trading and I never do trading just for the satisfaction I get, sure I am satisfied when I win trades but that is not the main purpose why I trade. It is important to have fun when you are doing something to make you more productive but do not forget why you got ther in the first place.

[NinjaCryp]

Emotion is just a small part for enthusiasts and tech lovers. In fact, the value that crypto brings is enormous. Therefore, money and profits will be a top priority. At least that's my opinion.
In addition, trading on the analysis process takes a lot of time. I do not think anyone can sit there all day just to find the winning emotions in the trade.

[mklost]

What a question! and I will be very happy to answer your question. To me, I trade for my satisfaction and money both. Basically, everyone trades to make a good amount of money. But, We can't make good profits every day, someday we get a little profit, that tiny profit is not enough for my satisfaction. I need big Profit without losing my money.
No one trades only for Emotional satisfaction, money is the main fact in the trade or crypto field.

[tanjilrifat]

Therefore, money and profits will be a top priority. Money is a medium of exchange and money is a means for survival therefore money is really important.

[Adhichan]

I personally trade to earn money. if it got it I can buy anything for my satisfaction. this is the goal of most people when entering the world of trading.

[phpartisanmaster]

Profit is the number 1 goal. And most times, the only goal. I get emotional satisfaction from making money.
Maybe the big traders some times okay around with their investments, but that wasn't mmshat made them, 'big traders', right?

In my own opinion, everyone who are trading in the market is preferring to use cryptocurrency as their main source of income so that is the reason why bitcoins today is on the main stream and very popular.

[Mr.John19]

The dependably the objective of everyone, merchant or financial specialist in this marker is to get something in a decent restore this the motivation behind why we are working for having the cash. The vast majority exchange to pick up benefits to accomplish the point the objective. We plan to make increasingly, and profit and our objective are to keep up or to give a decent future to our family.

[whaawh]

The dependably the objective of everyone, merchant or financial specialist in this marker is to get something in a decent restore this the motivation behind why we are working for having the cash. The vast majority exchange to pick up benefits to accomplish the point the objective. We plan to make increasingly, and profit and our objective are to keep up or to give a decent future to our family.

perhaps as early as 2009, crypto-currency was an entertainment for all users, but to date it is quite a serious business and is a very good earning money.

[kulitmanggis]

it seems like I'm trading just wanting to earn a profit and trying to grow the total assets I have from trading. if trading is for emotional alone it will be difficult to make a profit.

[hahahafr]

I think that there is no one in this world that prefers to trade only for emotional satisfaction, i mean there is no need to do that.. Most of the people is only in here for the money (including myself)

[befriendmywater]

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

That is one of the very good tips for new people and amateur traders. We should apply these philosophies to have a good mindset and make informed investment decisions.
I highly appreciate your article and I have learned quite a lot from these philosophies. thank you

[miningguru]

I think that there is no one in this world that prefers to trade only for emotional satisfaction, i mean there is no need to do that.. Most of the people is only in here for the money (including myself)

Yes, we don't have huge money for emotional satisfaction, everything we are investing into crypto because we want to make money. I think there are very fewer people here are trading for emotional satisfaction, most of the people are trading for money.