The right mindset needed for all traders

[GatotKaca]

1. Discipline: Coming into trading with a mindset not to gamble. You can use TA (Technical Analysis), because it teaches discipline to use it. Fundamental analysis meanwhile is about understanding market emotions correctly and trading with it.

Discipline helps you to see exactly what the market doing.


2. Patience: To be a patient trader; it means that you understand what the market is saying and the emotions attached, what the market could likely do and being calm and composed enough to follow what you see.

In fact, these two things become the most difficult terms to do in crypto trading. Sometimes, we want to be responsible for our trading activities and be more disciplined. But in fact, we are too way far from discipline. We may not even have a good routine and preparation for trading.
Moreover, about patience, many of us are willing to be more patient in facing every market condition, but in fact, we are too afraid of losing and we become impatient.

it is because not much experience in the market is owned by the trader. for those who are already day traders. the best bet is to try to reduce the risk of loss. and if what is done is not in accordance with the efforts and plans. Of course, traders must know and be ready to take risks.

who still think like that, we can call beginners. they do not have peace of mind in making decisions. certainly requires more experience in trading.

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[savetheFORUM]

it is because not much experience in the market is owned by the trader. for those who are already day traders. the best bet is to try to reduce the risk of loss. and if what is done is not in accordance with the efforts and plans. Of course, traders must know and be ready to take risks.

who still think like that, we can call beginners. they do not have peace of mind in making decisions. certainly requires more experience in trading.

I think patience and discipline can be obtained already just before a person enters trading but once he learned how to trade, he can greatly enhance this two positive traits due to how hard trading was. Day trading is pretty risky and I think the only way to reduce the risk is by reducing the money that we will be using.

It is important that whatever we do is based on the plans that we have created because if you don't have any plans, that is the start that you will have a doubt. You will worry if what you did is correct or not. You won't have a peace of mind, which is not great to have because it can affect our performance and also our overall health.

[mayfair_coin]

Before trading in bitcoin, know the fundamentals of market and then invest in it, more funds and capitals will surely attract you, but you have to know the market behavior then only you can perform well in it.

[gunhell16]

Maybe it's good to add to your topic what is called Self-control and Don't get emotional if the result of gambling is not good.

If these two can be implemented in the right way, it is certain that even if it leads to a loss, the number of sets that can be bought or sold in the exchange will be limited. Let us always be in control of every analysis we do on a chart or graph as an individual traders whether it's a centralized or decentralized exchange.

[Mauser]

A winning mentality is important in trading, we need to be convinced of our ability to make money and not doubting ourselves. In case we feel uncomfortable trading larger positions than we might not be ready yet and go back to trade sizes that make us comfortable. A little bit of doubt is good to keep us grounded and reflect our actions, but too much doubt will lead to fear over time. And once we are afraid of losing money in a trade emotions will take over and our decisions are not rational anymore. As a trader it's very important to be a realist and make decisions based on logic and research. I found it very helpful to reflect on past trades and see if I would make the same trade 3 month again. If not I need to decide to sell that position or not. As a realist we need  to accept when we are wrong and take a loss to switch more profitable trades.

[Rigon]

This is a good advice and guidance as well which will help upcoming traders at the same time helping experts to re-evaluate themselves. In addition, I would like to point in one thing which is greed. This is also one of the factors which makes traders lose money, mastering the act of removing or resisting greed from/during trading will go a long way in helping as well and this can only happen if the trader is disciplined enough to resist it and stand to his views about trading. Lastly it is good to be positive about trading altogether, because it helps to shape the right mindset.

In fact, every person's mind should be clear during trading. Greed does not cross anyone's mind during trading.True greed makes people completely destitute. Especially those who are greedy in the trading platform will never be able to profit from the trading platform.So I would say always trade with a clear mind or else you may lose your entire money from the trading platform.

[Digital_Lord]

All the fundamentals you remarked here are the key to success and i think that if a traders possess these talents he will be easily gaining too much profit. If a person just concentrate on the ways that lead him to success and do not think about the suggestions provided by the people then he can do the best. A strong mind can become the causative agent of profitable results. Sharp thinking and tolerance can be useful tools.

[sulendra12]

1. Discipline: Coming into trading with a mindset not to gamble. You can use TA (Technical Analysis), because it teaches discipline to use it. Fundamental analysis meanwhile is about understanding market emotions correctly and trading with it.

This one what makes people lose the most. They are thinking that simply following the advices from other people with their picks and without any further research could gain you something. Relying on people with the picks are not healthy to do in long run especially when you are going to trade it by yourself, you don't know what to do for most of the time.

Same goes for picking blindly without any analysis at all, most of the time new traders are having hard time with this.

3. Planning:Planning helps you to accept what will be earned or lost from the trade.

Also having a backup plan is always coming clutch in worst cases. Your investment not going well? You can always cut loss or do some side-trade in the meantime to recover the losses. Stuff like this is always great to learn, otherwise you will always stuck in one cycle of doing nothing where you can regain your losses in another way.

[Hamphser]

All the fundamentals you remarked here are the key to success and i think that if a traders possess these talents he will be easily gaining too much profit. If a person just concentrate on the ways that lead him to success and do not think about the suggestions provided by the people then he can do the best. A strong mind can become the causative agent of profitable results. Sharp thinking and tolerance can be useful tools.

Not that really bad on snipping out some ideas from others for you to add it up into your own analysis which you shouldnt really close up your mindset because nothing beats out if you do have that kind of behavior

since not everything would really be acquired or attained easily without having those kind of little help but its true that nothing beats out if you do only just rely with your own and be independent.
But if you do have chances or opportunities on getting some ideas then it wont be a bad consideration.

Learning up trading does really takes a long time and there would be lots of trials and errors would be made up.

[nurilham]

In fact, every person's mind should be clear during trading. Greed does not cross anyone's mind during trading.True greed makes people completely destitute. Especially those who are greedy in the trading platform will never be able to profit from the trading platform.So I would say always trade with a clear mind or else you may lose your entire money from the trading platform.

I don't really understand about 'clear mind' you state above. Every trader should have their own mind, it is varied. I doubt if it is possible to make all traders think in the same way. Greedy is something natural, and cannot be avoided. You cannot expect it doesn't cross the trader's mind. Every trader should ever experience greed in trading, but it should be controlled or handled by the traders. Experience traders must know well how to deal with greed, especially when they know it is bad effects.

[batang_bitcoin]

All the fundamentals you remarked here are the key to success and i think that if a traders possess these talents he will be easily gaining too much profit. If a person just concentrate on the ways that lead him to success and do not think about the suggestions provided by the people then he can do the best. A strong mind can become the causative agent of profitable results. Sharp thinking and tolerance can be useful tools.

All of those will have a great contribution for a traders success. It will be majority of the successful traders will be basing on their experience and also having that relaxed mind in reading their trades and before committing.
An attitude of not being greedy too is also going to one fundamental that a trader needs to have.

[MCobian]

All the fundamentals you remarked here are the key to success and i think that if a traders possess these talents he will be easily gaining too much profit. If a person just concentrate on the ways that lead him to success and do not think about the suggestions provided by the people then he can do the best. A strong mind can become the causative agent of profitable results. Sharp thinking and tolerance can be useful tools.

All of those will have a great contribution for a traders success. It will be majority of the successful traders will be basing on their experience and also having that relaxed mind in reading their trades and before committing.
An attitude of not being greedy too is also going to one fundamental that a trader needs to have.

Crypto trading is not just buying at a low price after that we sell it at a high price, if it were that easy a lot of people got rich from trading crypto.
While the reality is that more people fail to trade crypto than people who succeed in trading crypto. And very few traders make crypto trading their
main job. It's all because our mindset must be right first, how to make our mindset right when trading. Everything requires a long process, so we have
to learn about trading properly, after that we trade with small capital first, slowly we will learn from every loss we experience when trading. From there,
we usually start to form the right mindset on how we can become successful traders. The most important thing is never to give up if we fail, we have to
get up and fix every mistake we make. You are right greed is one of the important things that we must avoid in order to become a successful trader.

[batang_bitcoin]

All of those will have a great contribution for a traders success. It will be majority of the successful traders will be basing on their experience and also having that relaxed mind in reading their trades and before committing.
An attitude of not being greedy too is also going to one fundamental that a trader needs to have.

Crypto trading is not just buying at a low price after that we sell it at a high price, if it were that easy a lot of people got rich from trading crypto.
While the reality is that more people fail to trade crypto than people who succeed in trading crypto. And very few traders make crypto trading their
main job. It's all because our mindset must be right first, how to make our mindset right when trading. Everything requires a long process, so we have
to learn about trading properly, after that we trade with small capital first, slowly we will learn from every loss we experience when trading. From there,
we usually start to form the right mindset on how we can become successful traders. The most important thing is never to give up if we fail, we have to
get up and fix every mistake we make. You are right greed is one of the important things that we must avoid in order to become a successful trader.

Actually, it was easy to understand like that. Buying low and selling high but yes, the hardest part is to determine when you must do that and not everyone knows when is the right time and when to execute those trades. It's true that many fails as a trader and those that don't give up are the ones that capitalizes their experiences and manages to profit from it as they stay. It's not that easy as we say on how to do it because there's more to it as you keep going.

[serjent05]

1. Discipline: Coming into trading with a mindset not to gamble. You can use TA (Technical Analysis), because it teaches discipline to use it. Fundamental analysis meanwhile is about understanding market emotions correctly and trading with it.

This one what makes people lose the most. They are thinking that simply following the advices from other people with their picks and without any further research could gain you something. Relying on people with the picks are not healthy to do in long run especially when you are going to trade it by yourself, you don't know what to do for most of the time.

Same goes for picking blindly without any analysis at all, most of the time new traders are having hard time with this.

I do not think that is what OP wanted to say.  As far as I understand it, OP wanted us to know Technical analysis and fundamental analysis and apply discipline in using them.  We should know when to use TA and FA in order to take advantage of the market.  It isn't about listening to someone's TA, because why listen when you can do it and verify it yourself.

3. Planning:Planning helps you to accept what will be earned or lost from the trade.

Also having a backup plan is always coming clutch in worst cases. Your investment not going well? You can always cut loss or do some side-trade in the meantime to recover the losses. Stuff like this is always great to learn, otherwise you will always stuck in one cycle of doing nothing where you can regain your losses in another way.

True,  always has a backup plan, even having a back up of backup plan is also good.   Well, the market is unpredictable so we never know if our backup plan is a better fit for the situation, so having a back up of our back up plan would assure us of more option to profit.  In short have a mutliple option available when planning a strategy.

[Kimonoe]

All of those will have a great contribution for a traders success. It will be majority of the successful traders will be basing on their experience and also having that relaxed mind in reading their trades and before committing.
An attitude of not being greedy too is also going to one fundamental that a trader needs to have.

Crypto trading is not just buying at a low price after that we sell it at a high price, if it were that easy a lot of people got rich from trading crypto.
While the reality is that more people fail to trade crypto than people who succeed in trading crypto. And very few traders make crypto trading their
main job. It's all because our mindset must be right first, how to make our mindset right when trading. Everything requires a long process, so we have
to learn about trading properly, after that we trade with small capital first, slowly we will learn from every loss we experience when trading. From there,
we usually start to form the right mindset on how we can become successful traders. The most important thing is never to give up if we fail, we have to
get up and fix every mistake we make. You are right greed is one of the important things that we must avoid in order to become a successful trader.

Actually, it was easy to understand like that. Buying low and selling high but yes, the hardest part is to determine when you must do that and not everyone knows when is the right time and when to execute those trades. It's true that many fails as a trader and those that don't give up are the ones that capitalizes their experiences and manages to profit from it as they stay. It's not that easy as we say on how to do it because there's more to it as you keep going.

Self-confidence and a well-established psychology are needed to carry out the planned strategy, so we will buy when the price enters the buy area and will sell it when the price hits the sell area, so that greed and fear of missing the moment do not happen to us, maybe we have the same technique but it will be different in the end, because the psychological level of a person is different

[kesmex]

Trading demands a lot of qualities which trader needs to accept all this qualities and obey to it. For one to be a successful trader  all rules in trade must be practiced and no one should be left behind. All rules are important,  some people are only just concern about the profit in trading, they don't care about its rules.

Trading is very broad and complex so a trader needs to have knowledge and skills for capital in trading,
profit is basically an end result of what we have done as traders,
The most important thing is never stop to learn

[Shasha80]

Trading demands a lot of qualities which trader needs to accept all this qualities and obey to it. For one to be a successful trader  all rules in trade must be practiced and no one should be left behind. All rules are important,  some people are only just concern about the profit in trading, they don't care about its rules.

Our mindset is what determines the kind of trader we are ams if we don't have a good mindset then we can end up being a bad trader because of the mindset we are which can not sustain us for as long as possible. A successful trader is a trader that had made lots of profits and also impacted positively to other upcoming traders to learn from there techniques.

Our wrong mindset can make us make wrong decisions when trading, which as you say can make us bad traders. Therefore, before starting trading,
we should first fix our mindset towards trading, make sure we have the right mindset. By having the right mindset we will easily find an effective strategy
for trading, then we must learn how to have the right mindset from traders who are experienced and proven successful. Because if our mindset is correct,
even though we have different strategies with successful traders, we will still succeed in generating large profits. That is why the right mindset is needed
by all traders, because without the right mindset it is impossible to become a successful trader.

[Munir575]

I concur that a trader's gains inevitably die and turn into losses due to greed. Second, in my opinion, one should completely grasp chart reading before trading, and only do so after seeing at least two confirmations. He will significantly increase the percentage of winning trades by using this method.
Also this post will be useful to newbies Because I am confident that many beginners would fear in situations like these. They become impatient due to the market's volatility, which should be corrected at the very least by discipline.

[LastKiss]

I concur that a trader's gains inevitably die and turn into losses due to greed. Second, in my opinion, one should completely grasp chart reading before trading, and only do so after seeing at least two confirmations. He will significantly increase the percentage of winning trades by using this method.
Also this post will be useful to newbies Because I am confident that many beginners would fear in situations like these. They become impatient due to the market's volatility, which should be corrected at the very least by discipline.

I agree post something like this will help new people who want to start trading, since many of them probably saw some ads that tell them trading is easy, with trading they can become millionaires in short of time, with trading we can quit our job and the other things that will make us got baited to start trading without any sufficient knowledge.

[rendravolt]

I concur that a trader's gains inevitably die and turn into losses due to greed. Second, in my opinion, one should completely grasp chart reading before trading, and only do so after seeing at least two confirmations. He will significantly increase the percentage of winning trades by using this method.
Also this post will be useful to newbies Because I am confident that many beginners would fear in situations like these. They become impatient due to the market's volatility, which should be corrected at the very least by discipline.

I agree post something like this will help new people who want to start trading, since many of them probably saw some ads that tell them trading is easy, with trading they can become millionaires in short of time, with trading we can quit our job and the other things that will make us got baited to start trading without any sufficient knowledge.

I once had experience with trading ads on social media platforms and I just believed it. Then I tried it with little funds and immediately lost. Of course I take it as an experience that trading is not easy, I finally learned fundamentals and technical analysis, at least it managed to get a profit and can avoid a lot of losses.