My trading constitution.

[kojektea]

Psychology is indeed very important in trading, especially for those who are often emotional in trading. those who are easily provoked, emotional, greedy will definitely not get big or easy profits here. because such things affect their decision to invest behind what they predict. it's good to understand how your mood before making a decision.

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[crwth]

I agree that risk management is definitely the important part in trading because you cannot profit if you always lose what you have earned and that's definitely a problem. You cannot be profitable if you're not consistent.

It's weird to call a constitution without so much details lol.

[Woodie]

Trading is 90% psychology

This is quite a huge percentage and I don't agree to this statement, because you are implying anybody that has basic knowledge of crypto and charts will survive in the trading world which is far from the truth!

Trading requires one to have the skills to trade, know how to control their emotions and lastly apply proper risk management which you have pointed out.

Trading gives you money, in order to to protect your money risk management is paramount.

Risk management without the right skills is useless and btw based on personal experience the thing that messes  up peoples trading journey is actually emotions and greed, if you can't manage this then trading is not for you.

[Nrcewker]

You can manage everything, but if you don’t have knowledge and basics of any work that you do, then you won’t excel in that particular task. Same happens with trading also. If you want to do good trading and that too without losses, then you have to at first gain knowledge on trading. Do dry calculation and estimations and then do miracles with the market. At last do proper risk management and then do trading in limit.

[Dessy88]

For trade profits management we should need more experience with full heart risk confidence. Otherwise we Couldn't make any profits from trade. When i loss 200$ something of trade then i will put stop because less money in my pocket. But if you have money then trade best option for making daily profitable.

[wxa7115]

Psychology is indeed very important in trading, especially for those who are often emotional in trading. those who are easily provoked, emotional, greedy will definitely not get big or easy profits here. because such things affect their decision to invest behind what they predict. it's good to understand how your mood before making a decision.

Being an emotional person can be a very important setback when it comes to trading, as becoming a successful trader depends very heavily on math, probabilities and logic, and if you take decisions on a whim based on your emotions then most likely you are going against your trading strategy and what it recommends for you to do at the time.

And it does not matter who you are, if you are taking decisions which consistently go against what is supposed to be the best decision for you then eventually those decisions will be reflected on your trading account as negative outcomes and huge losses.

[CarnagexD]

Trading is 90% psychology, but

- you can't build confidence without a profitable system.

- you can't have consistent gain without a profitable system.

- you can't be disciplined without a profitable system.

- you can't win without a profitable trading system.


Trading gives you money, in order to to protect your money risk management is paramount.

Proper risk management will help you protect your capital. Applying it correctly, your account will never be blown out. But as you said you had to have a profitable system. That will determine your success. Your risk reward ratio, how much time do you need to get in front of charts, and how many research should you need? And after that, the battlefield of your own psychology. If one missing, your system will be flawed because all of these complement one another to a successful; trading.

[TheUltraElite]

For trade profits management we should need more experience with full heart risk confidence. Otherwise we Couldn't make any profits from trade. When i loss 200$ something of trade then i will put stop because less money in my pocket. But if you have money then trade best option for making daily profitable.

I think daily trading may not be profitable for everyone if they are not taking time to look through what went wrong with the previous trades. It's just like practice and putting in logs on how you are performing would definitely help if done correctly or dummy trading for that matter. Risk is equating to a reward but if done without experience can lead to fatal consequences and this never recommended for newbies. The ones who are taking risk and making money are rare and you should not try to copy them because there are a lot of background things that we don't know of, many of them are drowning in loans and those are only few profitable trades that they are showing.

I say cut your trade according to your earning. Don't spend more than 10% of your income on trading in total, these are not hard and fast rules but guides to help you come through.

[ethereumhunter]

For trade profits management we should need more experience with full heart risk confidence. Otherwise we Couldn't make any profits from trade. When i loss 200$ something of trade then i will put stop because less money in my pocket. But if you have money then trade best option for making daily profitable.

You don't have to wait until you lose $200 to stop because that amount is too much for some traders. We have to know when to stop and for that, we can set a stop loss to reduce trading losses and if we can prevent losing trades, we don't have to lose a lot of money. We can also start trading in other coins with more potential to increase. But losing will affect us psychologically so some traders want to recover their losses. If they could find another coin, they could recover their losses. Otherwise, they can get another loss.

[erixter]

Trading is 90% psychology,
Trading gives you money, in order to to protect your money risk management is paramount.

There is a bit of contradiction on this point because there are many rules of trade. Instead of other things, think first, then check the market, compare it and finally take the decision is a simple thing. But, your strategies and approaches must be according to the fundamentals. All the things like risk assessment, discipline, analysis, your patience, learning towards the trades, strategy of entry and exit from markets are not psychological thing, these are practical who gives you profit and also passion to bond with the market. Remember that trading involve risks, and no set of principles guarantees success. 

[Jatiluhung]

Trading is more of a combination of psychological strength, insight (analysis and the like), and capital. or maybe there are other additions. But what makes it always profitable is when we have broad insight into the assets being traded (know the fundamentals), have good emotional management (psychological) and make the right decisions (analysis). And another addition is financial management. in financial management there is discipline regarding the ratio of losses that can be borne and the potential profit that is targeted. and others.

but psychology is sometimes the determining factor above all. because decision makers and others are certainly in the psychological realm.

[Alisha-k]

Trading is 90% psychology, but

- you can't build confidence without a profitable system.

- you can't have consistent gain without a profitable system.

- you can't be disciplined without a profitable system.

- you can't win without a profitable trading system.


Trading gives you money, in order to to protect your money risk management is paramount.

Go get a comprehensive knowledge on TA and FA

With this knowledge, you can minimize your losses and maximize your profits

A tweet from Elon Musk can cause a boom market in the crypto space

A tweet from him also can cause a dump

That’s FA (Fundamental Analysis)

[awik p]

Trading is more of a combination of psychological strength, insight (analysis and the like), and capital. or maybe there are other additions. But what makes it always profitable is when we have broad insight into the assets being traded (know the fundamentals), have good emotional management (psychological) and make the right decisions (analysis). And another addition is financial management. in financial management there is discipline regarding the ratio of losses that can be borne and the potential profit that is targeted. and others.

but psychology is sometimes the determining factor above all. because decision makers and others are certainly in the psychological realm.

even though you have designed a good strategy, but if the psychology is not good it will be useless and the strategy will be damaged, so that the expected results are not achieved. indeed the role of psychology is the most important in trading, although psychology is not the only determinant of trading success, because it must be supported by analysis and money management. On the other hand, as long as we are trading, we should not treat the market according to us, but we must be able to serve where the market wants to move and we follow it. on the other hand having several accounts would be better for maintaining our psychological stability, so that we can group trades based on the level of risk

[Dr.Bitcoin_Strange]

Trading gives you money after you have learned and shown yourself approved through the trading system, and the evidence to do so is when you start making profits in most of your real trades. When you have fully written out some trading rules that you are going to be bent on acknowledging, this will prompt you when to trade, days to trade, when to leave the market, when to try new things, when to take the big risk, and when to avoid it. All that comes with having a timetable as well.

There was this movie I watched where they said, "If you sit around for so long on the problem, then you will find the answer or solution staring you right in the face." But in trading, if you sit around for long during practice days, surely you will learn how to unlock the profitable system that leaves you the choice of either getting disciplined or making a joke and losing everything. Also, when you sit around for so long when you are not making profit, you may be carrying out bad risk, so the best is to leave your monitor and rest, and you can't do some things without having some trading rules you have made for yourself.

[kotajikikox]

Trading is 90% psychology, but

- you can't build confidence without a profitable system.

- you can't have consistent gain without a profitable system.

- you can't be disciplined without a profitable system.

- you can't win without a profitable trading system.


Trading gives you money, in order to to protect your money risk management is paramount.

                     Can't complain more mate , you have mentioned everything that
                               we need to understand .

         - We can't make money out of just trust but with knowledge..

       - We can't win anything if we will not encourage others to join us in our
                    trading journey(meaning must have Buddy and
                                 this is what I learned .

In this crypto world , there is one thing that very important , and that is to have knowledge and courage , because this is our key to success .

[wxa7115]

Trading is more of a combination of psychological strength, insight (analysis and the like), and capital. or maybe there are other additions. But what makes it always profitable is when we have broad insight into the assets being traded (know the fundamentals), have good emotional management (psychological) and make the right decisions (analysis). And another addition is financial management. in financial management there is discipline regarding the ratio of losses that can be borne and the potential profit that is targeted. and others.

but psychology is sometimes the determining factor above all. because decision makers and others are certainly in the psychological realm.

The mentality of each trader is something that is often ignored and yet as you mention is very important, after all it makes no difference if someone has the perfect strategy if at the end of the day they cannot put it into practice.

However while this is an aspect that may seem easy to improve this is not the case, as this requires that we reflect in a profound way about what is what we are looking for by becoming traders, and as simple as it may seem this is seldom done by most traders out there.

[bluedeep]

Psychology is indeed very important in trading, especially for those who are often emotional in trading. those who are easily provoked, emotional, greedy will definitely not get big or easy profits here. because such things affect their decision to invest behind what they predict. it's good to understand how your mood before making a decision.

If you want to trade, the first thing you need to do is increase your patience. If you don't have patience, then you will never be able to profit from trading. If you want to trade, you must trade according to both your profit and loss. If you always think of investing.  You will be very foolish if it will benefit you later.  After investing your money may be in loss. Then you have to wait patiently.  When the price rises, they should be sold and if traded in this way, there is a chance of profit.

[safar1980]

Psychology is indeed very important in trading, especially for those who are often emotional in trading. those who are easily provoked, emotional, greedy will definitely not get big or easy profits here. because such things affect their decision to invest behind what they predict. it's good to understand how your mood before making a decision.

If you want to trade, the first thing you need to do is increase your patience. If you don't have patience, then you will never be able to profit from trading. If you want to trade, you must trade according to both your profit and loss. If you always think of investing.  You will be very foolish if it will benefit you later.  After investing your money may be in loss. Then you have to wait patiently.  When the price rises, they should be sold and if traded in this way, there is a chance of profit.

Are you saying that for investment you should not buy shitcoins, but rather buy bitcoins? Or do you want to say that you need to invest money for a longer period, and not engage in speculation?

[jeraldskie11]

Risk management is the number 1 ingredients to be a successful trader. Because I was told by my mentor who's profitable already that risk management to success. I also follow someone in twitter that he turn his small sum of money into 300k and I thought that his strat is 90% working but when I see his past trades he encounter many loses therefore I conclude that risk management must be in your trading. This was also proven when I started trading, even though you're winning but with no proper risk management you couldn't be profitable.

[IvugeoEvolutionCoin]

For trade profits management we should need more experience with full heart risk confidence. Otherwise we Couldn't make any profits from trade. When i loss 200$ something of trade then i will put stop because less money in my pocket. But if you have money then trade best option for making daily profitable.

I have often made a lot of profit by trading. But sometimes I have lost a lot of money due to my own mistakes. But we have to think about one thing to trade. I should never be disappointed. I have seen that there are some people who never make a profit by trading.  Rather, they lose their money because of their own mistakes. I have seen some people who trade and now own a lot of money.