Do you trade for money or emotional satisfaction?

[gabmen]

Well i think they go hand in hand with each other. Trade for money and you'll feell well satisfied both emotionally and financially. That is if you land a good trade. I don't think these two can be separated since having monetary gains will make your emotionally satisfied

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[Agetan]

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.

As i know, many people doing trading in forex, stock and also cryptocurrency and they just want to earn money and not for satisfaction.
I want to have much money to fill my life better and i want to stay relax and doing a jod wherever and whenever i like without any restriction.

[Ailmand]

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.

That may be true, but what is the essence and real sense of going out your way and enduring all the trouble tied up with trading if you're just doing for emotional satisfaction. I think the always end goal of every trader or investor in this marker is to get something in return, and that 'something' is usually money or profit. Some use what they get from their ventures in this market as their livelihood and means of living, so I don't think many people actually continue with trading just because they want to have an emotional fix, after all, whatever your purpose is, if you hit a bad deal, you would still lose capital, so might as well make your deals worth while.

[Ahmat faisol]

in my world money is badly needed rather than obeying emotional satisfaction.
I prefer my emotional happen if in need like price in the market will fall.

[iged_war]

only wealthy people who are insane trading just for satisfaction. maybe they are already confused about spending their money for what. Obviously, the purpose of a trading investor is definitely to earn money.

[pawanjain]

There are many people in the crypto community who trade for money, to earn enough to manage their daily expenses and to save money for future. These are the people who trade for money because it is their need and necessity. The other people trade just for fun because they already have enough money and are in crypto just to try out their luck in it. They don't care even if they loose their money.
I trade so that I can manage my own expenses and not be a burden on my parents. So far I have been fulfilling my goals.

[Caladonian]

I also think that both can be done together, you can do and enjoy while earning money inside this industry, trading is a good source of money if
you do have a lots of patience and if you can work with certain volatility, if you know how to ride with the situations and for sure you will be able
to enjoy your stay, both ends can be fulfilled after.

[Salesman4coinZ]

So i personally trade cryptocurrencies for money. Im not the emotionally guy So i dont think that i could obsessed with the fealing of sucessfully trading. But the question is, could i get out of cryptocurrencies when i made a good amount of profit? So i think the most people cant get out and want to get more money because they are greedy. And beeing greedy depends for me some kind of emotional satisfaction. So in this moment you need a clear head and have to know when to sell everything and never look back!

[isetter]

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.

I have the same situation as you, I am an unemployed person. But fortunately my father had left me some money before. So I'm new to investing in Bitcoin. Bitcoin is now my main source of income

[LuvCyanide]

Of course I trade for money. When there is money, there is emotional satisfaction. You know, you can invest in something more or buy something.

[Intersan]

of course, I did trade for money.Surely not of emotional satisfaction.If I have a lot of money and then I might use trade for emotional satisfaction.Trade help me a lot for my financial support.

I also do trading because of the money and the profit that I can earn.  Most of us surely do trading for that reason and not for emotional satisfaction.  Honestly,  I can't imagine how trading can give the latter one because it is very stressful.  If one will want satisfaction,  he would go on having happy moments or doing what makes him happy.  I can't really see how trading could help with that.

As of now,  prices continue to be on dump states and I think that it only cause stress more than satisfaction.

[goaldigger]

If I trade for money and get enough income i should to buy what i need and secure my future then that will come a time that i will become emotional satisfied. Admit it or not, money can buy even our emotional satisfaction. If you are secired enough, you dont have to worry for today and for the future, and eventually, you will become happy.

[bayupermana]

Most of us are trading for earning money purpose not emotional satisfaction at all because this is trading not gambling .
The emotional satisfaction only can be found at the gambling not trading , trading is for true business people.

[Finestream]

Most of us are trading for earning money purpose not emotional satisfaction at all because this is trading not gambling .
The emotional satisfaction only can be found at the gambling not trading , trading is for true business people.

Exactly.Trading is done to earn more profits and that's how i look into it too.I trade to gain more rewards so i can cater to all my wants and needs.I know its really risky knowing its been my source of income for quite a year but i still find it profitable so i decided to pursue my trading skills.Trading for emotional satisfaction may be seen for wealthy people i guess,but with people who still aspire to become wealthy,trading is much more on money concerns.

[richcorner100]

I make some strategy and management of risk and money in trading to gain profit, but sometimes i can not control my emotions. Its need long times to be expert trader who can manage emotions and get profit in consistent. My purpose in trading offcource for money but not easy to get it ,need long process and patient.

[entrepmind23]

I trade for money and for emotional satisfaction. Like what is mentioned in the article, there are times when I don't really care if I am on the bad side of the market as long as I am in the game because I feel that I am left behind which is really wrong. Doing this for the long term would be just burning money because I would be at a loss always cutting my profit short and letting my losses run which is kinda opposite of what a trader should be doing.

I am still in the stage wherein I need to combat with my emotions when trading because it is a hindrance to have a rational way of trading. This is the reason why trading plan is important so that I know what my next move would be in case the trade goes the wrong way. This have been my mistake so far and I want to change the way I think or rather the way I trade by putting aside my emotion.

[richfinch]

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

Wow. Thank you very much for your information. I totally agree with you about this. For me, trading is a combination of entertainment, richness and a few thrills. However, If you want to be rich, I think you need some intelligence, fotune as well as some ability to predict.
Good luck!!!

[toots25]

i trade money but not for emotional satisfaction, simply because emotional satisfaction can't be gained by money, but wordily life , desires and wants  can be attained by trading money, if you want to gained emotional satisfaction you should learn seek knowledge, why do mankind exist , what are thay created for, what are the purpose in life, with that , i promise you'll gained emotional satisfaction.

[chocolah29]

of course, I did trade for money.Surely not of emotional satisfaction.If I have a lot of money and then I might use trade for emotional satisfaction.Trade help me a lot for my financial support.

The one just trade for emotional satisfaction are the one who's damn rich so money doesn't matter to them as they just do trading more likely as gambling. When we profited good there are mix emotions within us and being proud from what you've accomplish and this what keeps us to continue trading. So basically I trade in exchange of money and emotional satisfaction is just secondary.

[darkangel11]

This is an interesting article. It reminds me of why I stopped trading. I was simply getting too emotional about it all, and it wasn't because I was losing money. On the contrary I was always making money of it, never going under,. The problem was I always saw myself doing worse than I could. When I did ended up with a 10% gain I always saw that if I did it differently I would have 15%, it was a game of unrealized gains, and missed opportunities. So I was trading for money and getting money, but I lacked emotional satisfaction.