When I may be able to reflect on my trading before, there are tons of actions that I tend to learned. My emotions was uncontrolled way back then that affect my mood whenever I am losing in trading but then it wasn't healthy that is why setting goal is important to somehow control the emotions. Let's also be honest here, good or bad outcome in trading affects our mood as well as our visions in life.
If a trader has enough confidence, an optimistic mind and a good management plan. It may have a great effect in our personal life.
Trading apparently affects us in our real lives but most of us just don't know.
There are too many possible consequences that may affect your personal life after your trading activity.
All mentioned of OP was I already experienced, the bad and the good side in trading. But this wasn't mentioned above, the "GREED". I've learned not to be greed in trading because I've heard that there is one greed trader that he sold everything valuable stuff he had just hoping it will return if he will successfully gain in trading. But unfortunately, it isn't, he loses everything.
However, in trading, we should have self-discipline to avoid/lessen the bad effects in our personal life.
Actually, on the other hand, i won't tag that greed because i know of someone who sold most of what he had to raise funds for trading and made it eventually.
What differentiates both is
Self confidence. The latter knows his craft and has practiced well enough to know what he needs and how to get it.
The most crucial and good thing that helped me in long-term trading is that I learned to save money right now especially in this pandemic that is happening right now, and I think that would help me in my personal life in terms of long-term.
I'm happy for you!
I was looking out for patient actually because a trader that doesn't drink the patient water goes no far in trading. Impatient makes you jump into salty water if you understand what I mean
So I saw the big part, money in the bank. Yeap, good trader makes sure money.
By patience the OP meant that you should always think of the conclusion before initiating any trade, you should do proper research and then do a trade. You should never be influenced by what others say, do your own TA and see what the market looks like as the market always speaks through charts and they are the best way to make money. I have seen many people who just jump right in when the price is rising thinking they will buy high and sell a little higher, but they surely get REKT. Also not always buying in a dump period is not good as then also you can be the one holding a pile of worthless coins.
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You said it all Fella! Once you learn patience in trading, you get patient with other things.
Especially those who do Technical analysis, you gotta wait for a candle close to take entries. In between this waiting time, you have to bottle-up FOMO and all other emotions that might influence following your plan. This is patience.
If you're an investor, you have to wait patiently for your investment to yield returns; even though things wouldn't always go as planned, you just gotta wait.
All of us has a different approach to trading, may we experience bad and good thing in here but not it comes into a moment of being addicted to it. I was still in control of my emotions even though if I suffered big losses nor I have to quit either. I've learned a lot of things in crypto trading,
*one thing is to be strong in every turbulent scenario
*become proactive and learn to keep calm.
*not to lose hopes in every fall we have
Your last point is also something I learned alongside on my trading journey. I am still learning every day though.
To be honest I have also faced sometime that my personal life is affected by trading. Generally, it is a good experience when I get some profit from trading. So I will not talk about the good experience. The bad experience happened when I lose in a trade or when I need some money but I can not end my trade with a profit due to the bearish market. I faced I can not live normally, I can not work perfectly in real life. Sometimes I became very angry. No sound sleep, no sound food intake, etc. And I think this is normal for all trader but we should reduce it by controlling our emotions.
This happens to most traders. But you every trader needs to understand that there are things one can control and things one can not control.
Trading makes me quit my current job and focus on making money on the internet which is more useful and flexible. With trading, I can do anything I want and go anywhere I like without having any trouble with an office job. No need a presentation or position in a company to earn money.
However, in order to achieve such success like this, I used to lose a lot of money to learn and gain new experience. When I first started my trading career, I dont have anything in my hand and lack of knowledge. And I was a noob who believe he could do anything by himself without learning a shit. And then, I suffer a huge loss which change entirely my point of view. And, becoming more discipline was my number one target. After several months, I did succeed. Then, everything seems perfect to me.
I'm happy to see this. Freedom is the best thing trading offers. This is the final goal of every trader i believe.
i am happy you have attained that. Congratulation!
