Do you trade for money or emotional satisfaction?

[DOLONCHAPA]

I never heard of trading because of emotion or  emotional satisfaction. Trading is a big deal, question of huge amount of money it's the only source of income for you and your family. You have a lot of responsibilities to them so there is no option of emotion. There is always the possibility of losing money, so when you have bills to pay, and you depend on your profits to pay them, it's definitely a very stressful experience.

[1714857813]

1714857813

[1714857813]

1714857813

[marsmyname]

Emotional satisfaction ? I believe everyone goes into trading to make some profit. Trading may not necessarily be in tune with your emotions. If you follow your emotions you might make some bad mistakes. It's better to stick to plans than to go with your emotions.

What do you mean of emotional satisfaction here if it is trading and a business then why we are discussing and entering emotions in business? Trading is a process and people perform for making some money besides which we need not to express and relate our emotions here. All we need is to make money here trading with any currency which has chances of making profit.

[prtty2gal2]

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

This makes no sense to me, no single sense at all. Tell me, are you happy when you’re poor and don’t have any money? I don’t know for you, but if that’s okay with you then I’m a different person. You can’t be entertained when you have no money to afford that entertainment.

Instead of seeking for only entertainment like a fool, you should try to work hard and make money, when you have the money you will be able to entertain yourself. Money can get you anything you need, so I’m working for money and not entertainment.

[magmar]

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 never knew about exchanging as a result of feeling or enthusiastic fulfillment. Exchanging is a major ordeal, question of tremendous measure of cash it's the main wellspring of salary for you and your family. You have a considerable measure of obligations to them so there is no choice of feeling. There is dependably the likelihood of losing cash, so when you have bills to pay, and you rely upon your benefits to pay them, it's unquestionably an extremely upsetting background.

[coffigayo]

I think nowadays in making some strategies and risk management and money in trading for profit but sometimes we can not control our emotions.It takes a long time to become expert trader who can manage emotions and get profit consistently.I think trade can be a satisfaction and income to live. For us is the first of all desires to earn money.

[braineridze]

Who has any thought on a new coin 3des on etherdelta?

[RUslan.U]

An interesting coin 3des traded on etherdelta. It's definitely worth to purchase.

[@hosimanaka]

I never sold my pennies at happy rates. I always sell them at cheaper rates than expected, because I always worry that the market will fall, and fall deeper. I can not wait.

[dekcutbusu33]

I think most of us trade to earn money not for emotional gratification at all because this is trading not gambling. We need not worry for today and for the future, and finally, we will be happy that we feel.

[EugeneReigns]

I think for emotional satisfaction trade only gamblers or people who are missing something in their life. How can following the boring market graphs be satisfying? Satisfaction can bring making money on it. Sure thing, I am making it for money and I think that the majority of the people join this market only for that reason. Of course, when starting understanding crypto-market and handling it successfully, we can feel emotional satisfaction because we succeed. But if it wouldn't bring us the success that materializes in money, we wouldn't have gotten any emotional satisfaction.

[isidrorex]

Ofcourse I trade for money. I live for the profit whether it is just a small profit or big, profit is still a profit and it feels good knowing that you didn't lose in your trade despite having second thoughts whether I should trade or not. I guess those people who only trade for  satisfaction and entertainment are already rich people who just makes cryptocurrency trading just a game for them.

[p i e c e]

I never heard of trading because of emotion or  emotional satisfaction. Trading is a big deal, question of huge amount of money it's the only source of income for you and your family. You have a lot of responsibilities to them so there is no option of emotion. There is always the possibility of losing money, so when you have bills to pay, and you depend on your profits to pay them, it's definitely a very stressful experience.

Well, naturally, I trade for money. When I get it, I have a feeling of emotional satisfaction. Therefore I think trading includes everything that was mentioned above.

[kenel]

I believe that it is very important to separate these two concepts. I think the main thing is all the wealth, and if you get the pleasure, then it is better to do on little money)

[deus030518]

For me I trade for money not for emotional satisfaction because all of us needs money for our basic needs. In the work that we apply we cannot earn what we are earning in trading. If you know how to trade properly then you will earn big profit. But if you do not know how to trade properly then you will not make your profit double or you might lose what you have invested. It is also risky to invest in crypto if you do not know how to do the basic trading. You have to study first the basic trading so that if you already know how to trade then eventually you will upgrade your knowledge and you will earn more than what you have earn in your first investment. You just need to be patient in learning the trading so that you can earn big and you will not lose what you have invested in the crypto market.

[iknowitsme]

Both are important for me. There are plenty of easier ways to make money, but I like games. And what is the better game than to test your ability to analyze when something real is at stake? Not to mention this feeling when you're not completely sure in coin until it starts going up?

[InziderX]

Never heard of trading because of emotional satisfaction. In fact I find trading very stressing, specially if it's the only source of income for you and your family. There is always the possibility of losing money, so when you have bills to pay, and you depend on your profits to pay them, it's definitely a very stressful experience. I was a decent poker player, and once I realized I was making enough money to pay my bills I decided to try it full time. It was a terrible experience, and I just had to stop. I now play poker just for fun again, and I appreciate the profit I can get from it, but I don't see how that can work in trading. It's not a game, so you can do it for an extra profit, but it's not for emotional satisfaction.

Perfectly Described the real soul behind trading. Trading is most stressing job in the world.

[imstillthebest]

what do you mean by emotional satisfaction? does it mean to enjoy or to only pass the time?  Well i myeslf do not trade because of it  but rather i only trade because i always wanted to earn a profit . yet , earning a profit thru trades is also hard to achieved because trading isnt an easy thing to do plus the market of cryptos are also confusing .

Perfectly Described the real soul behind trading. Trading is most stressing job in the world.

I agree , that is why not all people are doing trades .  majority of them are opt to choose investing and gambling because these two are seem to be more workable and less stress as compared to trading itself.

[jlong187]

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.

I can say that it is both because in my personal belief you cannot trade successfully if you will have an attitude to earn money, it is not a job. Trading is more than a heart process, then irregular routine just acting.

[Blackmoon84]

myself do find that I have fun while trading, when things are going well, but I also do not mind having the most boring days with little volatility if it means that I can profit. Profit comes ahead of emotional satisfaction but both can go hand in hand.But another logic works here and that is I don't trade just for emotional satisfaction. There are a lot of things you can do just to be satisfied on your emotion. I think for rich people who just want to enjoy trading, maybe they are the one who trades just for their satisfaction.

[tuljan]

Never heard of trading because of emotional satisfaction. In fact I find trading very stressing, specially if it's the only source of income for you and your family. There is always the possibility of losing money, so when you have bills to pay, and you depend on your profits to pay them, it's definitely a very stressful experience. I was a decent poker player, and once I realized I was making enough money to pay my bills I decided to try it full time. It was a terrible experience, and I just had to stop. I now play poker just for fun again, and I appreciate the profit I can get from it, but I don't see how that can work in trading. It's not a game, so you can do it for an extra profit, but it's not for emotional satisfaction.

Perfectly Described the real soul behind trading. Trading is most stressing job in the world.

That's the hard truth. The guy explained it very well, when you make trading a daily job that pays bills it becomes a stress factory. I only invest, hodl and sell when the time is right. Tried daily trade but didn't have the time nor the patience and nervs. It's very hard and stressful. I prefer keeping the day job and doing crypto on the side. I respect those who can do it.