Mauser
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April 10, 2023, 06:07:13 PM |
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In trading the number one enemy is our self emotions, many trader loss because they can't control thier emotions and it really affects thier decision making and sometimes it will become a reason for the big loss, in crypto we cannot be free from different emotions because everytime market condition is changing and it is really a high volatility market, i think experienced had a very big role on decision making, is this a reason why most of the newbie loss is it because they don't have enough of experience?
I fully agree with you, controlling our emotions is one of the hardest things in trading that even after years of experience remains difficult. How many times has my stomach told me to sell my positions now, without any real reasoning behind it. Feelings like greed and fear are a big problem that and can lead to losses if we give in to them. That is why we need to actively control our feelings and live with them. I found that gambling is a great way to get used to dealing with losses. When playing poker there are situations where you play correctly, but still lose due to randomness and bad beats. For example when you hold the two best hands AA or KK, you will try to get as many chips as possible in the middle. And even through you have the highest winning chances there is no guarantee we will actually make money. That was the hardest lesson for me to learn in trading as well. Even though you make the right analysis and decision, when the market is against you there is not much we can do than accept it. Having the mental strength to accept situations that we can't change and don't fall into a black hole is important for any trader.
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Botnake
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April 10, 2023, 06:53:39 PM |
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Failure and success remind me of the Chinese yin yang concept. The concept of yin yang is used to explain the interdependence and complementarity of opposing forces in nature and the universe, and to illustrate the importance of balance and harmony in achieving overall well-being. In trading like the op said it helps to create harmony of our emotions and to have a clear head when trading. Nothing can go as smoothly as expected, that means that each of us must experience ups and downs. Even a businessman will not be as successful as he seems without ever failing or at least losing money financially, that also applies to traders and investors because they both involve money. The successful are those who keep trying after failing, those who get up after falling until they finally find balance. Well, I guess life itself has its certain ups and downs, but the good thing is we learn from them and eventually we get up and move forward. Same with trading and investing, failures are inevitable but if we can deal with them positively, mentally and emotionally, it will lead us into achieving success. As failure is never the end of our lives, it’s just a reminder that we have to work on it to make it right and successful.
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Mahanton
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April 10, 2023, 08:51:39 PM |
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Failure and success remind me of the Chinese yin yang concept. The concept of yin yang is used to explain the interdependence and complementarity of opposing forces in nature and the universe, and to illustrate the importance of balance and harmony in achieving overall well-being. In trading like the op said it helps to create harmony of our emotions and to have a clear head when trading. Nothing can go as smoothly as expected, that means that each of us must experience ups and downs. Even a businessman will not be as successful as he seems without ever failing or at least losing money financially, that also applies to traders and investors because they both involve money. The successful are those who keep trying after failing, those who get up after falling until they finally find balance. Well, I guess life itself has its certain ups and downs, but the good thing is we learn from them and eventually we get up and move forward. Same with trading and investing, failures are inevitable but if we can deal with them positively, mentally and emotionally, it will lead us into achieving success. As failure is never the end of our lives, it’s just a reminder that we have to work on it to make it right and successful. We do lean from our mistakes and not on those good or positive outcomes because these are the results out of those mistakes that we are trying out to correct which it is really just that indeed right that we do learn from our mistakes and this is something a career which you would really be needing that continuous learning which is something that inevitable or something that you should need to embrace. Some people are really that easily get discourage on the time that you would really experiencing losses and completely stop on what you are doing unlike on other people who doesnt really easily quit despite of those errors and mistakes.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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Unbunplease
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April 10, 2023, 10:06:31 PM |
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We do lean from our mistakes and not on those good or positive outcomes because these are the results out of those mistakes that we are trying out to correct which it is really just that indeed right that we do learn from our mistakes and this is something a career which you would really be needing that continuous learning which is something that inevitable or something that you should need to embrace. Some people are really that easily get discourage on the time that you would really experiencing losses and completely stop on what you are doing unlike on other people who doesnt really easily quit despite of those errors and mistakes.
The psychological factor in this case plays a significant role. And the main question is whether one learns better from others' mistakes or only from one's own. To learn from the mistakes of others, one must be clearly aware of the reasons and motives that caused them. But is a person willing to understand other people's motives if he cannot understand his own?
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NicNacCoin
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PredX - AI-Powered Prediction Market
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April 10, 2023, 10:35:35 PM |
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In trading the number one enemy is our self emotions, many trader loss because they can't control thier emotions and it really affects thier decision making and sometimes it will become a reason for the big loss, in crypto we cannot be free from different emotions because everytime market condition is changing and it is really a high volatility market, i think experienced had a very big role on decision making, is this a reason why most of the newbie loss is it because they don't have enough of experience?
People lose the most on crypto trading platforms trading on emotion. Second: They lose the most due to greed. Although emotional, when a person trades and makes some profit in the first instance, a lot of greed is awakened in him. That greed makes trading more long-term. As a result, they lost a lot later. So I would say those who trade should never trade with passion and greed. Success in trading can only be achieved if these two things can be excluded.
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bitgolden
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Leading Crypto Sports Betting & Casino Platform
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April 11, 2023, 06:09:44 AM |
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We do lean from our mistakes and not on those good or positive outcomes because these are the results out of those mistakes that we are trying out to correct which it is really just that indeed right that we do learn from our mistakes and this is something a career which you would really be needing that continuous learning which is something that inevitable or something that you should need to embrace. Some people are really that easily get discourage on the time that you would really experiencing losses and completely stop on what you are doing unlike on other people who doesnt really easily quit despite of those errors and mistakes.
Learning from past mistakes is how humanity grows as well, that's the thing that allows us to grow as much as possible. I can tell you two things that history has proven so far, first of all when printing press became widely available, or even started to be used, we started to learn that we can spread information around, and get more information from everywhere, this allowed people to take on previous information and build on top off that, while before that it was harder to pass on information. This allowed past mistakes to be not repeated and start from a good place. Secondly, when Rome was built, they were better than everyone because they learned from mistakes and collected data of it, whereas most others around them just made guesses and had no records kept.
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ItsCrafty
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April 11, 2023, 06:54:50 AM |
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Learning from past mistakes is how humanity grows as well, that's the thing that allows us to grow as much as possible. I can tell you two things that history has proven so far This is the reason i always recommend every new traders to start trading with real money and don't follow any youtuber or telegram channel. As a newbie one can make many mistakes but these mistake will teach many skills and every mistake will increase your confident and next time you will be able to trade free of tention and as OP mentioned The more you trade your emotion will be controlled.
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dollarday
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April 11, 2023, 02:08:53 PM |
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Learning from past mistakes is how humanity grows as well, that's the thing that allows us to grow as much as possible. I can tell you two things that history has proven so far This is the reason i always recommend every new traders to start trading with real money and don't follow any youtuber or telegram channel. As a newbie one can make many mistakes but these mistake will teach many skills and every mistake will increase your confident and next time you will be able to trade free of tention and as OP mentioned The more you trade your emotion will be controlled. Depending on how well a person is doing financially, maybe trading in a demo account until gathering experience may be a better option. I saw many traders get wiped out early on in the pandemic and they stopped trading because they couldn't afford to lose the amounts of money that they lost, and felt "cheated." People are wired to work ad gain income from their work, losing large amounts of money can break people down very early on and then they never gain the experience necessary to be profitable with their trading.
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Twentyonepaylots
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April 11, 2023, 04:29:29 PM |
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Learning from past mistakes is how humanity grows as well, that's the thing that allows us to grow as much as possible. ... This allowed past mistakes to be not repeated and start from a good place.
It is indeed that experiences will shape ourselves in the future . It makes us grow as a person. Whenever we are in different situations, we have different emotions that may be experienced. This is important to recognize and understand since it would help you analyze each situation and assess the emotions you experienced. This will help us to be better next time and do what should have been done at the first place. This is the reason i always recommend every new traders to start trading with real money and don't follow any youtuber or telegram channel. As a newbie one can make many mistakes but these mistake will teach many skills and every mistake will increase your confident and next time you will be able to trade free of tention and as OP mentioned The more you trade your emotion will be controlled.
Depending on how well a person is doing financially, maybe trading in a demo account until gathering experience may be a better option. I saw many traders get wiped out early on in the pandemic and they stopped trading because they couldn't afford to lose the amounts of money that they lost, and felt "cheated." People are wired to work ad gain income from their work, losing large amounts of money can break people down very early on and then they never gain the experience necessary to be profitable with their trading. I think this is a good idea since i this way you could have your first trading experience with hypothetical money that isn't real. This would help you experience losses without compromising your hard earned money. But keep in mind that investing is risk and in no time you have to make your self be in that situation of risking through investments. I think people would only learn from their experience if they would fully assess and reflect on the actions that they do. If they just experience the emotions from losses without thinking further what really happened would make you gain no real experience from it.
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palle11
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April 11, 2023, 05:29:16 PM |
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This is the reason i always recommend every new traders to start trading with real money and don't follow any youtuber or telegram channel. As a newbie one can make many mistakes but these mistake will teach many skills and every mistake will increase your confident and next time you will be able to trade free of tention and as OP mentioned The more you trade your emotion will be controlled.
A newbie may decide to start directly to trade live account but it is better to go first through demo except the newbie has so much money to throwaway. People who trade on demo still make alot of mistakes while trading live account so there is no need being in a haste to start trading live directly. It is better to begin the mistakes from demo before graduating into live account trader. There is so much to learn in trading so no need to rush.
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martyns
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April 14, 2023, 10:45:54 PM |
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Failure is never any man's wish to get,but it is something that we must face either in one way or the other.To some persons,they see failure as failure,but I see failure as part of success,because if there is no failure,there can't be success,and if you don't fail,you won't be happy when you succeed.Failure is accompanied by experience,and experience is very important in the game of trading.It is only people who have experience in the game can tell you about the different strategies to use while trading,or investing.People who are mostly affected when they lose are people who haven't experienced failure before,they take it to heart,because they don't believe failing will give them a better experience about the next trading session.
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