Trading psychology and TA

[taufik123]

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And I point a fact that without an edge, psychology is a crap, one need have a system which suites him and disciplines himself to follow, with proper risk management  he already know that two possible which is profit or lose, this will shaping him to trade without fear because he already has a system he follows. But skipping the process of learning and building psychology will make you keep losing because you understand nothing about the market.

Advantages that include good crypto knowledge, basic knowledge of trading is indeed very necessary.
Because Psychology will be formed from a series of events that occur while trading takes place.

One will not rely on psychology alone, but also on excellence, as they can read the market well using TA and FA.
Knowing the science of trading well and then hone trading psychology, it will be the perfect trade if you continue to practice it.

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[Zanab247]

Its the mindset - being a person who does not sell when the market is falling and does not buy when the market is rising is important. The majority of people who enter crypto are with a get-rich-quick mindset, because of which they will follow this mistaken line of trading.

That is where some traders are missing it in their trading today because they feel when the price is falling is the best way to trade, not knowing that it will make them to achieve loss, and if you want to make money from trading ensure you watch the market price at the moment the price has risen higher.

 Crypto trading is not like other business you will invest and get rich quick from the business, but if you can endure for long with your trading, and follow the due process to to trade your coins you bought from the market, you will surely improve your profits.

If your mindset is not like that you will be able to make profits be it short or long term, provided you keep yourself limited to bitcoin. I cant talk about altcoins, they are not my cup of tea.

Just focus on your hodling during the bear without having the mindset of getting rich quickly because once you start making profits from your trading it will help you to get rich when you stay long in your trading.

[TheUltraElite]

Crypto trading is not like other business you will invest and get rich quick from the business, but if you can endure for long with your trading, and follow the due process to to trade your coins you bought from the market, you will surely improve your profits.

It can be appreciated a bit differently from other asset markets. Here you will buy when the market is falling even to a ground level - bitcoin that is. You can make a good profit from when you sell those same coins after a couple of years or earlier.

Just focus on your hodling during the bear without having the mindset of getting rich quickly because once you start making profits from your trading it will help you to get rich when you stay long in your trading.

Bear market is indeed the good time to buy, most new traders don't understand it early and end up buying at the highs. These can be prevented by dummy trading in the start. But regular profits might not be possible, intermittent is the proper term to use.

[dunfida]

-snip-
And I point a fact that without an edge, psychology is a crap, one need have a system which suites him and disciplines himself to follow, with proper risk management  he already know that two possible which is profit or lose, this will shaping him to trade without fear because he already has a system he follows. But skipping the process of learning and building psychology will make you keep losing because you understand nothing about the market.

Advantages that include good crypto knowledge, basic knowledge of trading is indeed very necessary.
Because Psychology will be formed from a series of events that occur while trading takes place.

One will not rely on psychology alone, but also on excellence, as they can read the market well using TA and FA.
Knowing the science of trading well and then hone trading psychology, it will be the perfect trade if you continue to practice it.

When dealing up with trading and dealing up with an unpredictable space then it would really be just that normal that you would be needing up that kind of learning and knowledge on which you could be able to sustain up yourself or else you wont really be able to proceed or would be able to handle yourself on this unpredictable space. This is where you would really be needing up to consider on having that kind of engaging on learning up
technical analysis and so as with fundamentals on which this would really be something significant. You cant really just that hover yourself into this space without having that kind of consideration or learning.
It would really be so damn hard for you to be able to deal up with this unpredictable space if you wont really be able to apply something on which its normal that you would be needing to learn up
and deal up accordingly with these kind of steps.

[OcTradism]

Bear market is indeed the good time to buy, most new traders don't understand it early and end up buying at the highs. These can be prevented by dummy trading in the start. But regular profits might not be possible, intermittent is the proper term to use.

I am not against this truth because the truth is accurate. If people have money, and have long term plans for investment, a bear market is very good or can consider as best period to accumulate Bitcoin.

However, there is another truth, that I would like to say, Bitcoin is a very solid investment asset, with very good ROI in history, so in either bear market or bull market, if you are an investor with long term plan, the bear market is still very good period for you to accumulate Bitcoin.

Because by having long term plan for your investment, you don't aim at buying and taking profit, exiting the market after some months or just one year. It's what I want to say, zoom out and build up your long term plan.

[MissNonFall9]

I have observed great number of traders debate on the issue of having a solid psychology and right approach to trading better pay off than just relying on some Strong Technical Analysis but others don't believe in psychology they base there points on having a winning strategy and proper risk management
What's your take guy's...
Does Psychology exist or is just an illusion of you not  having the right approach and risk management, fundamentals...that affect your trades

Psychology plays an important role in controlling everything in our life. Our psychology helps us make decisions by analyzing environmental situations and elements. So our knowledge strategy management is all about trading by analyzing our psychology.

[Bravut]

I have observed great number of traders debate on the issue of having a solid psychology and right approach to trading better pay off than just relying on some Strong Technical Analysis but others don't believe in psychology they base there points on having a winning strategy and proper risk management
What's your take guy's...
Does Psychology exist or is just an illusion of you not  having the right approach and risk management, fundamentals...that affect your trades

Psychology plays an important role in controlling everything in our life. Our psychology helps us make decisions by analyzing environmental situations and elements. So our knowledge strategy management is all about trading by analyzing our psychology.

Analyzing our Psychology in what way?
Do you imply, Psychology is over than having an edge in trading?

In trading,having the right knowledge and refining it. Will ensure your profitability, in essence build your skill set so that you wouldn't blame your losses based on psychology as other traders.

You can read the thread to have more knowledge about the subject, as traders perfecting the edge is necessary as well as being fucking profitable no room for mediocrity.

[tvplus006]

...Does Psychology exist or is just an illusion of you not  having the right approach and risk management, fundamentals...that affect your trades

No one will deny the importance of sustainable psychology for trading, which allows you to keep cool when holding a trade, no matter which way the market is moving.But without technical analysis, it will be difficult for you to open an order in the right direction.

[boyptc]

In trading,having the right knowledge and refining it. Will ensure your profitability, in essence build your skill set so that you wouldn't blame your losses based on psychology as other traders.

Having right knowledge isn't enough.

There's more to it when you've discovered how the actual trading goes to work. You have the basic knowledge and refining it still won't be enough to be honest.

You need to be better in most of your decisions and actions because of how quick this market goes, you might miss a lot of money or get to lose a lot in split seconds because of poor decision making.

You can be good in TA, FA, etc but when you're slow as a turtle in executing it, it doesn't make sense.

[Mpamaegbu]

Does Psychology exist or is just an illusion of you not  having the right approach and risk management, fundamentals...that affect your trades

Those who don't believe in trading psychology are the same with those who think they can trade without Stop Loss (SL), it doesn't matter how a trader's winning rate is. It's just a matter of time before they got burnt. Back to psychology in trading, whether one is a fundamental or technical trader doesn't matter. Every trader needs to master their psychology to be able to profit from the market. Otherwise, they will be messed up by the market once they get hit by loss and they will lose confidence of the little they even know. Nothing messes a trader up like loss of confidence in their trading strategy or plan. Risk Management/Money Management is benched on trading psychology. It's an important aspect of trading.

[Bananington]

Every trader needs to master their psychology to be able to profit from the market. Otherwise, they will be messed up by the market once they get hit by loss and they will lose confidence of the little they even know. Nothing messes a trader up like loss of confidence in their trading strategy or plan. Risk Management/Money Management is benched on trading psychology. It's an important aspect of trading.

It is almost the most important aspect of trading because even when you master the other sides of trading but have not yet mastered the psychological side, chances of making wrong decisions will still be very high. The psychological aspect of trading can affect your decision to either enter a trade, exit a trade or take profit too quickly before you can get maximum or get out of the market with a loss as a reaction due to fear, as soon as your predictions show a sign of pullback. Good traders are psychologically sound.

[lixer]

In trading,having the right knowledge and refining it. Will ensure your profitability, in essence build your skill set so that you wouldn't blame your losses based on psychology as other traders.

Having right knowledge isn't enough.

There's more to it when you've discovered how the actual trading goes to work. You have the basic knowledge and refining it still won't be enough to be honest.

You need to be better in most of your decisions and actions because of how quick this market goes, you might miss a lot of money or get to lose a lot in split seconds because of poor decision making.

You can be good in TA, FA, etc but when you're slow as a turtle in executing it, it doesn't make sense.

But I think that having the right knowledge will increase your confidence, which means that you can now decide more quicker but maybe you are still right that it is not enough because we might also need a luck as the market can still moves randomly sometimes.

Now if we don't have it, this is where we can lose quickly but as long as we are minimizing our volumes, we still have something left and we can use them to possibly recover and back on the profiting side again. Other than luck, we also need to be good at controlling our emotions because I think that having a good knowledge is separated to it, or having a good knowledge can also make us over-confident and greedy.

[boyptc]

In trading,having the right knowledge and refining it. Will ensure your profitability, in essence build your skill set so that you wouldn't blame your losses based on psychology as other traders.

Having right knowledge isn't enough.

There's more to it when you've discovered how the actual trading goes to work. You have the basic knowledge and refining it still won't be enough to be honest.

You need to be better in most of your decisions and actions because of how quick this market goes, you might miss a lot of money or get to lose a lot in split seconds because of poor decision making.

You can be good in TA, FA, etc but when you're slow as a turtle in executing it, it doesn't make sense.

But I think that having the right knowledge will increase your confidence, which means that you can now decide more quicker but maybe you are still right that it is not enough because we might also need a luck as the market can still moves randomly sometimes.

Now if we don't have it, this is where we can lose quickly but as long as we are minimizing our volumes, we still have something left and we can use them to possibly recover and back on the profiting side again. Other than luck, we also need to be good at controlling our emotions because I think that having a good knowledge is separated to it, or having a good knowledge can also make us over-confident and greedy.

I am not saying that it is not going to increase your confidence but I'd say that it is not enough. It's good to have the right knowledge but it's about the final decision with your trades.

That's why it is what traders have to think of when they have the background already. It's not about how quick you are to decide but it is about on how good you are in making decisions.