The right mindset needed for all traders

[Franctoshi]

You've listed out quite a good number of points here , Trading is something that emotion and psychology plays important role, hence most traders neglect this.One thing is sure in trading, either you win or loose and too don't expect to be 100 % in the money all the time.
Lastly one very important thing to note about trading is , Literally , it's not about how many times your right or wrong that matters, it's how much you loose when you're wrong and how much you make when you're right.

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[Hamphser]

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.

Curiosity could really lead up with those kind of actions which is really that not something new specially when we do try up something on what we are seeing and that was our first time.
Due to curiosity and some interest to know on what it is, specially if it do talks about earning money, then this is where we do immediately
trying out to deal up with things.

We wont really be that able to avoid those kind of mistakes on which it would be normally on that phase since we dont have knowledge and skills.
Being a trader wont really be that easy because it does really need off those qualities.

[BinarySumo]

Discipline is the deal breaker. If you're consistent and patient, you can become successful over time. Moreover, once you start seeing small, positive results, you build confidence. So, follow a good trading process. And learn from your mistakes.

[Smitty Werben Man Jensen]

Discipline is the deal breaker. If you're consistent and patient, you can become successful over time. Moreover, once you start seeing small, positive results, you build confidence. So, follow a good trading process. And learn from your mistakes.

But the fact is that whether it's consistent or patient is not an easy thing,
indeed to become a successful trader it takes a process and of course there are many things that must be done,
learning from mistakes is one of them and it's important

[NicNacCoin]

It is very important for every trader to have skills and right thinking.Otherwise, they will not be able to win in the market. The current market is completely random and without the right mindset and thinking, there is no way to win in this market.Patience and Consistency Even if you invest, you can profit from it.If you have this trait in you, you can become a winning trader with the right mindset.

[Bhig Daddy]

This is sound advise and direction that will benefit new traders while also assisting seasoned traders in self-evaluation. Additionally, I want to draw attention to one factor, which is greed. The ability to master the act of removing or resisting greed from/during trading will go a long way toward helping as well, but this can only happen if the trader is disciplined enough to resist it and stand by his or her beliefs about trading. This is another factor that contributes to traders losing money. Finally, it is beneficial to have a positive outlook on trading as a whole because it helps to develop the proper mindset.

[Oilacris]

It is very important for every trader to have skills and right thinking.Otherwise, they will not be able to win in the market. The current market is completely random and without the right mindset and thinking, there is no way to win in this market.Patience and Consistency Even if you invest, you can profit from it. If you have this trait in you, you can become a winning trader with the right mindset.

Most of the traders that fail have the wrong mindset from the beginning of their trading journey. They see it as a source of huge profit and even a shortcut to success and just disregard the risks that they might be facing. Setting the right mindset right from the start of trading will have a huge effect on our success.
A positive mindset always attracts positive outcomes but we should also add perseverance and eagerness to learn everything so we can deal with all the challenges that the market might throw us. It is given that we will commit mistakes because there's no such thing as perfect trading but we should learn from all the wrong decisions that we may take when trading.
Always be wise in choosing the coin that we're trading and be mindful of their capability. Always set a target goal and make a firm plan to reach it.

Its understandable when we are just still new or starting up on which it would really be that normal on having those mistakes.The important thing on here is that you do make yourself able to learn.

You would eventually be aware on how things works and what are the actions needed for you to do so, so that at least you do know on what you are doing.

Mindset is never been preferred on being greedy.Dont make yourself fall into this category because it would be resulting into lots of mistakes.

[deathcode]

Discipline is the deal breaker. If you're consistent and patient, you can become successful over time. Moreover, once you start seeing small, positive results, you build confidence. So, follow a good trading process. And learn from your mistakes.

But the fact is that whether it's consistent or patient is not an easy thing,
indeed to become a successful trader it takes a process and of course there are many things that must be done,
learning from mistakes is one of them and it's important

those who have been successful in trading must have also experienced failures and losses in trading. without sufficient experience, they can only analyze with tools. while those with experience in the market can choose the right asset and time to buy and start trading.
people who spend a lot of time in the market, of course, understand how to make sure steps to make a profit. Patience in controlling emotions is also very important.

[len01]

those who have been successful in trading must have also experienced failures and losses in trading. without sufficient experience, they can only analyze with tools. while those with experience in the market can choose the right asset and time to buy and start trading.
people who spend a lot of time in the market, of course, understand how to make sure steps to make a profit. Patience in controlling emotions is also very important.

failure is a very valuable experience as a lesson to be better when trading again.
indeed, the main key that a trader must have is patience and being able to control emotions. because if a trader who already has expertise and experience in trading but still doesn't control his emotions, he will get a loss. well, even though you already have expertise, it's normal to still get losses, but if you can control your emotions when trading, it will reduce the losses you get.

[fullhdpixel]

You've listed out quite a good number of points here , Trading is something that emotion and psychology plays important role, hence most traders neglect this.One thing is sure in trading, either you win or loose and too don't expect to be 100 % in the money all the time.
Lastly one very important thing to note about trading is , Literally , it's not about how many times your right or wrong that matters, it's how much you loose when you're wrong and how much you make when you're right.

I think those two can only come second or third but the most important here is knowledge or the capital. Once you have that two then you can practice on how to deal with your emotions to be able to trade properly. This is the reason why many traders neglect it because they think it wasn't really that important and for them having a capital and then some knowledge is already good to go in trading but they will only realize their mistakes once they lose their money due to wrong decisions.

Trading is risky so it's not advised to put 100 percent of our money on here even in investing which is also a less riskier than in trading because we still don't know the flow of the cryptos.

[rojan]

those who have been successful in trading must have also experienced failures and losses in trading. without sufficient experience, they can only analyze with tools. while those with experience in the market can choose the right asset and time to buy and start trading.
people who spend a lot of time in the market, of course, understand how to make sure steps to make a profit. Patience in controlling emotions is also very important.

failure is a very valuable experience as a lesson to be better when trading again.
indeed, the main key that a trader must have is patience and being able to control emotions. because if a trader who already has expertise and experience in trading but still doesn't control his emotions, he will get a loss. well, even though you already have expertise, it's normal to still get losses, but if you can control your emotions when trading, it will reduce the losses you get.

I agree with your opinion , and I also thought that without doing mistakes in trading nobody can't be a good trader. A few months ago a event has been held in New York where most of the famous traders were present and  everyone was asked a common question, that you have ever been wrong trading by you? All of answer was , yes. And they also said that always learn from your mistake, if you can't learn from it then you can't be a successful trader.

Those who will trade will have profit and loss. There are some traders who lose their head when they lose. I think it is not right to make a sudden decision when losing.  There is a fear of losing all the money if you trade with a sudden decision. If you lose by trading, the trader has to keep a cool head and trade. Then you can learn a lot.

[globalpain]

those who have been successful in trading must have also experienced failures and losses in trading. without sufficient experience, they can only analyze with tools. while those with experience in the market can choose the right asset and time to buy and start trading.
people who spend a lot of time in the market, of course, understand how to make sure steps to make a profit. Patience in controlling emotions is also very important.

failure is a very valuable experience as a lesson to be better when trading again.
indeed, the main key that a trader must have is patience and being able to control emotions. because if a trader who already has expertise and experience in trading but still doesn't control his emotions, he will get a loss. well, even though you already have expertise, it's normal to still get losses, but if you can control your emotions when trading, it will reduce the losses you get.

I agree with your opinion , and I also thought that without doing mistakes in trading nobody can't be a good trader. A few months ago a event has been held in New York where most of the famous traders were present and  everyone was asked a common question, that you have ever been wrong trading by you? All of answer was , yes. And they also said that always learn from your mistake, if you can't learn from it then you can't be a successful trader.

Those who will trade will have profit and loss. There are some traders who lose their head when they lose. I think it is not right to make a sudden decision when losing.  There is a fear of losing all the money if you trade with a sudden decision. If you lose by trading, the trader has to keep a cool head and trade. Then you can learn a lot.

that is why traders are advised to be able to control their emotions, and traders must have skills to analyze the market,
because that is important, otherwise the trader will be crushed and will never win.

[cozytrade]

that is why traders are advised to be able to control their emotions, and traders must have skills to analyze the market,
because that is important, otherwise the trader will be crushed and will never win.

This is true, traders who are able to control their emotions and trade off FA/TA And logic will always make good decisions in the crypto currency market. Even if such an investor makes a bear trade; he is able to bounce back and recover from his losing position. The moment you begin to trade with emotions; you are only gambling

If you are making a trading decision when you have pressure in mind, it will be a bad one probably. Trading is a combination of patience, self-discipline, knowledge and timing. The more time you spend in front of charts to learn about the market, the more you will find certain repeated movement of it. People like to gamble their funds instead of using their minds to take logical action.

[kawetsriyanto]

If you are making a trading decision when you have pressure in mind, it will be a bad one probably.

Yep. That's why we don't panic both in buying coins and selling coins.
If we panic or can't control our emotions, we only risk money in trading. Instead of getting profits, this way only wastes our funds.

Trading is a combination of patience, self-discipline, knowledge and timing. The more time you spend in front of charts to learn about the market, the more you will find certain repeated movement of it. People like to gamble their funds instead of using their minds to take logical action.

People who don't have sufficient knowledge and experience, gamble their money.
This happens mostly for beginners or those people who just know to trade. However, they finally will be aware that it is the wrong way. People who have a big intention in trading, will learn more and fix their mistakes. But people who are not patient, may quit immediately.

[Oilacris]

that is why traders are advised to be able to control their emotions, and traders must have skills to analyze the market,
because that is important, otherwise the trader will be crushed and will never win.

This is true, traders who are able to control their emotions and trade off FA/TA And logic will always make good decisions in the crypto currency market. Even if such an investor makes a bear trade; he is able to bounce back and recover from his losing position. The moment you begin to trade with emotions; you are only gambling

If you are making a trading decision when you have pressure in mind, it will be a bad one probably. Trading is a combination of patience, self-discipline, knowledge and timing. The more time you spend in front of charts to learn about the market, the more you will find certain repeated movement of it. People like to gamble their funds instead of using their minds to take logical action.

Its overall and you would really be needing that along the way where decisions are really that prone to emotional aspects which would really be affected and it would really be just right that you would really be that able to control so that you wont really be bothered with this aspect along the way.
The mindset of being a trader is that you should really be that able to adjust on whenever or whatever conditions you might able to face along the way.
It wont really be an easy journey which you would really be facing lots of errors and mistakes which you would be needing to adapt and finding out ways for you to avoid
on next encounter or something that you would be needing to adjust.

[cozytrade]

that is why traders are advised to be able to control their emotions, and traders must have skills to analyze the market,
because that is important, otherwise the trader will be crushed and will never win.

This is true, traders who are able to control their emotions and trade off FA/TA And logic will always make good decisions in the crypto currency market. Even if such an investor makes a bear trade; he is able to bounce back and recover from his losing position. The moment you begin to trade with emotions; you are only gambling

If you are making a trading decision when you have pressure in mind, it will be a bad one probably. Trading is a combination of patience, self-discipline, knowledge and timing. The more time you spend in front of charts to learn about the market, the more you will find certain repeated movement of it. People like to gamble their funds instead of using their minds to take logical action.

Its overall and you would really be needing that along the way where decisions are really that prone to emotional aspects which would really be affected and it would really be just right that you would really be that able to control so that you wont really be bothered with this aspect along the way.
The mindset of being a trader is that you should really be that able to adjust on whenever or whatever conditions you might able to face along the way.
It wont really be an easy journey which you would really be facing lots of errors and mistakes which you would be needing to adapt and finding out ways for you to avoid
on next encounter or something that you would be needing to adjust.

Making errors and mistakes is part of the journey. Keep repeating it is bad behaviour. I saw some professional traders keep a notebook with them to track their mistakes. They also think about a solution and write it down in the comment box so that they can make a better decision next time.

Life goes on we face different circumstances but we had to learn to put our personal life and business life in two different boxes. Emotion in trading provokes us to make very bad decisions.

[redsun114]

You asked why traders lose? Well losing is normal as there's no way a trader can accurately predict where the price will go. It's also normal to be attached with our capital because that is our hard earned money and we just don't want it to lose easily but we are trying our best so that we can grow this capital that we put in.

If you are advising traders to careless about their capital then its not different from donating their money in the market but maybe reducing the money that they put in here will help them achieve it. While I don't question the 5 fundamentals that you list but they are helpful and must be followed if we want to become a better trader.

[kamvreto]

You asked why traders lose? Well losing is normal as there's no way a trader can accurately predict where the price will go. It's also normal to be attached with our capital because that is our hard earned money and we just don't want it to lose easily but we are trying our best so that we can grow this capital that we put in.

If you are advising traders to careless about their capital then its not different from donating their money in the market but maybe reducing the money that they put in here will help them achieve it. While I don't question the 5 fundamentals that you list but they are helpful and must be followed if we want to become a better trader.

Growing the capital that is put into trading will certainly require good effort in trading. Not just a desire, financial management and doing a good analysis will help grow capital. The risk will still occur, but minimizing the risk is better than nothing. do not trade without trading knowledge, it will not be good for your capital.
do not be careless in trading, because what is at stake is our money or our capital. Sharpen technical analysis, use good strategy, and do financial management so that trading can be profitable.

[Hamphser]

You asked why traders lose? Well losing is normal as there's no way a trader can accurately predict where the price will go. It's also normal to be attached with our capital because that is our hard earned money and we just don't want it to lose easily but we are trying our best so that we can grow this capital that we put in.

If you are advising traders to careless about their capital then its not different from donating their money in the market but maybe reducing the money that they put in here will help them achieve it. While I don't question the 5 fundamentals that you list but they are helpful and must be followed if we want to become a better trader.

Growing the capital that is put into trading will certainly require good effort in trading. Not just a desire, financial management and doing a good analysis will help grow capital. The risk will still occur, but minimizing the risk is better than nothing. do not trade without trading knowledge, it will not be good for your capital.
do not be careless in trading, because what is at stake is our money or our capital. Sharpen technical analysis, use good strategy, and do financial management so that trading can be profitable.

You should set goals and targets when it comes into your trading capital which you would be thinking that you would make it bigger.Its better to have these target or goals which it could really inspire you on

pursuing and making trading decisions on in depth recognition or you are really that keen since you are making yourself lessening out the risk as little as possible.Mindset on minding about being rich would really

just push you into bad decisions because you are really that desperate on rushing up yourself on making huge profits which is something that it isnt recommended on doing so.
Stick into something which you do seem that it is really working out or do show positive results.

[blockman]

Making errors and mistakes is part of the journey. Keep repeating it is bad behaviour. I saw some professional traders keep a notebook with them to track their mistakes. They also think about a solution and write it down in the comment box so that they can make a better decision next time.

It's okay if the mistakes are happening again but, you should make sure that mistake didn't happen because you didn't apply some new strategies. It's totally normal to experience the same mistakes when you're trying to correct them. The problem may still exist but you have to be open to correcting those mistakes so that you'll correct it gradually and minimize the error.

Life goes on we face different circumstances but we had to learn to put our personal life and business life in two different boxes. Emotion in trading provokes us to make very bad decisions.

Including your emotion in your trade won't trade. That's one of the factors that should be removed when you're trading because if you've been attached on it, that will make you invested on your emotion and won't have a good outcome.