Trade with a business mindset

[pawanjain]

The comparison is good but don't you think that is why we have stoplosses and target orders.
After buying an asset we should put a stop loss long with a target and hence the profit and loss are within our risk taking capability.
I am not sure if comparing trading with business is a good idea or not but we must make sure that our capital is safe.
That is the most important aspect of trading.

[1714686511]

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[SirLancelot]

That's why learning to control your emotions is the top priority list in trading, even in everything you do in your life. Emotion is very tricky, you can be easily manipulated by your own emotions if you don't know how to control it. There's a monk saying that "mind is power" therefore it should be separated on your body, but not literally, lol.

This means that your mind is the master of all the things you'll do, but you must have the power to command it, not the other way around. For example, a bad trade after hours or days of making a good technical analysis could result to a huge frustration and disappointment, your mind will probably tell you to quit or enter a trade without any plan, that's danger right there.

So if you know how to control it, the right thing you'll do is to rest, plan again, and trade again.

Monks are good at controlling their emotions because this is part of their training. In the videos that we see they can mostly sit and close their eyes. I think that is called meditation and you don't have to be a monk to be able to do it but any person can practice meditating.

It helps soothes your mind so that you can think better the next time you trade. Bad trades are always present even if we already made a lot of preparation so we should not think negatively after it. We should rather think that there's always next time and I bet a lot of us are doing better at some days so our previous losses will always be recovered while earning something at the same time.

[Hamza2424]

Your topic name is really good as you said Trade with Business mindset that really a big tip for the new users as the rules in business similar to that you need to be always well prepared for the coming time as you dont know when and from where you can face some problem so Strong believe and determination is needed in the Trading. Trading is a Full time and Part time both type of Work depends on your investment..

[KingsDen]

Your topic name is really good as you said Trade with Business mindset that really a big tip for the new users as the rules in business similar to that you need to be always well prepared for the coming time as you dont know when and from where you can face some problem so Strong believe and determination is needed in the Trading. Trading is a Full time and Part time both type of Work depends on your investment..

His caption actually got my attention to this topic. Trading with a business mindset and the body also is in line with the caption. Taking profit when necessary is what is obtainable. But even in the business,  not all that is in business knows how to do business.  Some stock their capital in a particular goods for a long time, while some sell with small profit and  return to market to buy more goods, thereby turning over accumulated profits.

In other words, a business man will not give up if he fails in a business, but some traders will give up if their attempts wasn't successful. It is just totally subjective to different individuals.

[ScamViruS]

The biggest problem I face when trading crypto is over-expectation And because of this over-expectation I have to close many profitable trades at a loss. Controlling greed is a very difficult task in crypto trading, because many times even experienced traders cannot control their emotions, greed which leads to huge losses. Trading should be thought of as a business and the target of booking profit should be taken as soon as the trade is taken.

[blockman]

The biggest problem I face when trading crypto is over-expectation And because of this over-expectation I have to close many profitable trades at a loss. Controlling greed is a very difficult task in crypto trading, because many times even experienced traders cannot control their emotions, greed which leads to huge losses. Trading should be thought of as a business and the target of booking profit should be taken as soon as the trade is taken.

When you're in profit, think of it that you're already on it, and don't be greedy and take it as quick as you can. As long as your capital has already got the profit, don't hope for that much since your goal is to trade and not to hold. Have that separate thinking if you're going to hold and trade, because in trades, the market is moving quickly while you hold, it's okay to be patient and all you have to do there is to wait.
So closing your trades at profit as soon as you have seen it is what you have to do and don't expect a lot because it will delay you to close those trades.

[ScamViruS]

The biggest problem I face when trading crypto is over-expectation And because of this over-expectation I have to close many profitable trades at a loss. Controlling greed is a very difficult task in crypto trading, because many times even experienced traders cannot control their emotions, greed which leads to huge losses. Trading should be thought of as a business and the target of booking profit should be taken as soon as the trade is taken.

When you're in profit, think of it that you're already on it, and don't be greedy and take it as quick as you can. As long as your capital has already got the profit, don't hope for that much since your goal is to trade and not to hold. Have that separate thinking if you're going to hold and trade, because in trades, the market is moving quickly while you hold, it's okay to be patient and all you have to do there is to wait.
So closing your trades at profit as soon as you have seen it is what you have to do and don't expect a lot because it will delay you to close those trades.

I agree with you. Building a trading mindset is most important. What I understand from my trading experience is that as the percentage of profit increases, the expectation of making more profit from that trade is also created. I have also taken such trades and was able to close the trade almost at the ATH. So both sides exist here. But yes, it is important to try to stay in favor of the market, if the trader thinks in the opposite direction, it will create a situation of losing capital.

[Viscore]

That's why learning to control your emotions is the top priority list in trading, even in everything you do in your life. Emotion is very tricky, you can be easily manipulated by your own emotions if you don't know how to control it. There's a monk saying that "mind is power" therefore it should be separated on your body, but not literally, lol.

This means that your mind is the master of all the things you'll do, but you must have the power to command it, not the other way around. For example, a bad trade after hours or days of making a good technical analysis could result to a huge frustration and disappointment, your mind will probably tell you to quit or enter a trade without any plan, that's danger right there.

So if you know how to control it, the right thing you'll do is to rest, plan again, and trade again.

As much as possible, never be emotional whatever the outcome of your trades, most particularly if it comes with losses as you will never be successful in trading if you keep chasing your losses. However, losing in trading is a normal thing but if you keep losing in all your trades, then you should start to be worried. Maybe because you are still using your own useless strategy, or maybe your attitude does not fit in trading. So be more flexible and always gain a lot of patience every time you enter into investments or trading activities.

[goaldigger]

Just treat trading seriously and don't make it a child's game. If we are really determined to learn to trade, we should focus on working on that. Invest in knowledge as even if we spend lots of money doing trades, if we are not learning the process, then we are just throwing away that money.

It will take time to become familiarize with trading but it's worth it once people achieved that.

Treat trading as your business and by this you can be more focus and act professionally when it comes to trading. Many didn’t realize that their money are at risk here and that’s why they still choose to trade carelessly until they experience the worst result, that is the only time for them to take this seriously.

Trading is very risky, we should not take this for granted and advised by many, it’s always good to have your own strategy because this is your own battle and you have to do everything just to win in trading .

[blockman]

When you're in profit, think of it that you're already on it, and don't be greedy and take it as quick as you can. As long as your capital has already got the profit, don't hope for that much since your goal is to trade and not to hold. Have that separate thinking if you're going to hold and trade, because in trades, the market is moving quickly while you hold, it's okay to be patient and all you have to do there is to wait.
So closing your trades at profit as soon as you have seen it is what you have to do and don't expect a lot because it will delay you to close those trades.

I agree with you. Building a trading mindset is most important. What I understand from my trading experience is that as the percentage of profit increases, the expectation of making more profit from that trade is also created. I have also taken such trades and was able to close the trade almost at the ATH. So both sides exist here. But yes, it is important to try to stay in favor of the market, if the trader thinks in the opposite direction, it will create a situation of losing capital.

Well, it's a different story when it's about the ATHs. That really triggers us to get the most out of it and make a profit from that moment. But even if it's an all-time high, we want to make sure that we still get profit even if it's not the maximum from it.
As you know what you're doing, you can make profit from it even if it's the desired profit that you're trying to hit. You understand the risk and you're willing to take more of it if you aim for higher.

[Eternad]

The biggest problem I face when trading crypto is over-expectation And because of this over-expectation I have to close many profitable trades at a loss. Controlling greed is a very difficult task in crypto trading, because many times even experienced traders cannot control their emotions, greed which leads to huge losses. Trading should be thought of as a business and the target of booking profit should be taken as soon as the trade is taken.

The problem here is controlling your emotion, I also experienced this when I’m afraid to sell at a good profit because of hoping that the price can still go higher but in the end, I was forced to sell at a loss because of being too greedy not to sell at peak. Having a good mindset is very important, and it can work better if you do your own analysis always because in trading, we should not rely to anyone aside from ourselves.

You will never have a problem with your emotions if you have guidelines set on your trading that you will follow all the time in different situation. Professional have this kind of guide on there trades so that they will open or close there position based on the price conditions and not base on what they feel. Technical play an important role for having a good trade without emotion. You can use it to determine a good price level for selling and buying. Doing this will give you peace of mind that you are doing the right thing rather than rely on your emotion for your decision.

[RockBell]

Trading is a very unpredictable business tbh and you should accept what amount you can get in every trade as long as you can make profits afterwards and not losing money in it. Be practical and always build a good strategy so that you can gradually get your price target. Being greedy will not work so be smart enough..

Most people approach trading with the mindset of always making money, but that is not how business works. You should set limits and develop strategies that will help you make money while minimizing your losses because the entire crypto community is unpredictable. Any time you trade, you should calculate both your profit and loss. Mindset counts a lot in business; occasionally, long-term traders, especially those who are new to the system, may entice you to really sell, but gaining experience from losses should help you learn better since, when it comes to cryptocurrencies, you most likely face financial loss. Once you start involved in trading, you can usually not escape it if you want to get experience.

[Bobrox]

Most people habit trading is the way how to earn much profit and not approach seems as business way how to manage it worth and become passive income with consistent profit earn. Many bad habit why have bad result in trading and several of trader can't adopt with trading as business because loss opportunity and not think clearly before choosing some cryptocurrency for investing. Business build with many step and trading should prepare all basic fundamental seems like business.

Comer from businessman seems easy when controlling their greedy after become investor or trader in Bitcoin, but many people have loss control and not use business mindset when trading, greedy, loss emotional when trading become bad habit and difficult how to make trade as business.

[kapalmabur]

The biggest problem I face when trading crypto is over-expectation And because of this over-expectation I have to close many profitable trades at a loss. Controlling greed is a very difficult task in crypto trading, because many times even experienced traders cannot control their emotions, greed which leads to huge losses. Trading should be thought of as a business and the target of booking profit should be taken as soon as the trade is taken.

The problem here is controlling your emotion, I also experienced this when I’m afraid to sell at a good profit because of hoping that the price can still go higher but in the end, I was forced to sell at a loss because of being too greedy not to sell at peak. Having a good mindset is very important, and it can work better if you do your own analysis always because in trading, we should not rely to anyone aside from ourselves.

Yes, in trading it is important to avoid greed because it will make us lose the good moment when we want to sell or buy,
mistakes you make can make a lesson not to repeat the same mistakes,
that's right do your own research and analysis we have to believe in ourselves

[palle11]

it’s always good to have your own strategy because this is your own battle and you have to do everything just to win in trading .

I have seen people not trying to build their own trading pattern but they are relying on copy trading because of their past experience of loses. They are not doing a business of their own if they are waiting for trade call before they go in because such type of trading is not with business mindset but to always follow the call of a sender whose mind is that of the mind of the sender.

[Rruchi man]

Mindset matters a lot in trading just as it matters in other things. also understanding and having a business mindset towards trading can also help. just like business you make profits and then you also lose in trading and new traders should understand and not bite themselves about this or make their losing discourage them from wanting to keep trading thinking that older traders never lose but always gain.

Everyone experiences losses and the new traders need to recognise and understand this. The only difference is that the older traders know how to manage their losses something that the new traders need to learn, just like business people who manage situations.

[Z-tight]

Trading is a Full time and Part time both type of Work depends on your investment..

In my humble opinion it should be part time only, trading as a full time job is not a great decision to take, i know that many people do it, but it is not good to do so and new traders who want to follow that line may find themselves in a financial mess no sooner than they had started their trading journey. A trader without a job will become a liability very fast, except such person is 'bankrolled' from an external source.

[stomachgrowls]

Trading is a Full time and Part time both type of Work depends on your investment..

In my humble opinion it should be part time only, trading as a full time job is not a great decision to take, i know that many people do it, but it is not good to do so and new traders who want to follow that line may find themselves in a financial mess no sooner than they had started their trading journey. A trader without a job will become a liability very fast, except such person is 'bankrolled' from an external source.

Not great decisions to make.? How about those people who had made themselves as a full time trader? Doesnt matter if theres someone who do love to be like them.Its not their fault if these people would really be

losing money.Of course, when we are just new then it would really be just normal you would be losing money since lots of mistakes that you would really be committing.

Full time trading isnt something that you could really engage or make yourself that effective directly.It is really worth once you do really make yourself sustainable then
this is something that a skill which no one can take it from you.Making trading full time wont be easy but once you do have a good grasps on it then
it is really something worth.

[AmoreJaz]

Trading is a Full time and Part time both type of Work depends on your investment..

In my humble opinion it should be part time only, trading as a full time job is not a great decision to take, i know that many people do it, but it is not good to do so and new traders who want to follow that line may find themselves in a financial mess no sooner than they had started their trading journey. A trader without a job will become a liability very fast, except such person is 'bankrolled' from an external source.

Not great decisions to make.? How about those people who had made themselves as a full time trader? Doesnt matter if theres someone who do love to be like them.Its not their fault if these people would really be

losing money.Of course, when we are just new then it would really be just normal you would be losing money since lots of mistakes that you would really be committing.

Full time trading isnt something that you could really engage or make yourself that effective directly.It is really worth once you do really make yourself sustainable then
this is something that a skill which no one can take it from you.Making trading full time wont be easy but once you do have a good grasps on it then
it is really something worth.

it would take time before you can grasp this market, so if you are just in the beginners stage, better make it as a part time. but later on, once you got a good understanding and learned those unwritten rules, you can very well make this full time. so it depends on the capability of the person whether he will explore this market as part time or full time trader. every person has their level of expertise in this trading market. if you feel you are ready, then by all means you can make this as a full time job. only you can gauge such level as a trader.

[sayaya17]

Trading is a Full time and Part time both type of Work depends on your investment..

In my humble opinion it should be part time only, trading as a full time job is not a great decision to take, i know that many people do it, but it is not good to do so and new traders who want to follow that line may find themselves in a financial mess no sooner than they had started their trading journey. A trader without a job will become a liability very fast, except such person is 'bankrolled' from an external source.

You say that crypto trading should be part time, it's because you have trouble making profit from trading continuously. Even though there are some
people who have succeeded in making trading their main job, because whatever our job is if we do it well, of course it could be something to rely on.
Likewise with trading, if we have managed to get large profits on an ongoing basis from trading, it means that trading can indeed become a full time job.
Moreover, I know some of my friends who make trading as a full time job and they managed to make their lives better. So in the end it depends on
ourselves, we can determine whether trading is suitable as full time or part time. What is certain is that it must be admitted that being a successful
trader is not easy, that's why the number of full time traders is not as much as part time traders.