Luizwalter Crypt
Newbie
Offline
Activity: 32
Merit: 0
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June 22, 2024, 09:38:17 AM |
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First of all, explain what you meant as psychological trading.
Is it a type in which a trader will trade without having any bases of analysis? If that is it, it means the person is just gambling. Or does it mean a trader will not trade at all until the price of bitcoin has fallen so significantly? That is a good type of trading if that is what you mean.
But this would be good only for swing traders and holders. As for scalpers and day traders, technical analysis is very important.
When you mentioned gambling it made me feel this way; Do you ever know the outcome of a trade from the beginning? The market is a space of random variables and that's a gambling feature. The good thing in trading is we are able to put the variables to our favour with some sort of trading skills yet we don't win all the time. Have you closed a winning trade at lose? That's because you tried escaping this feature of the market but the right psychology would make known all these facts to your thoughts about the market. Without good psychological behaviors it's difficult to remain disciplined (follow your risk management plan) in the market. So in as much as you are very good with your TA+FA I think it's also necessary to maintain good behaviors in the market.
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Mahanton
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 27, 2024, 06:43:38 PM |
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First of all, explain what you meant as psychological trading.
Is it a type in which a trader will trade without having any bases of analysis? If that is it, it means the person is just gambling. Or does it mean a trader will not trade at all until the price of bitcoin has fallen so significantly? That is a good type of trading if that is what you mean.
But this would be good only for swing traders and holders. As for scalpers and day traders, technical analysis is very important.
When you mentioned gambling it made me feel this way; Do you ever know the outcome of a trade from the beginning? The market is a space of random variables and that's a gambling feature. The good thing in trading is we are able to put the variables to our favour with some sort of trading skills yet we don't win all the time. Have you closed a winning trade at lose? That's because you tried escaping this feature of the market but the right psychology would make known all these facts to your thoughts about the market. Without good psychological behaviors it's difficult to remain disciplined (follow your risk management plan) in the market. So in as much as you are very good with your TA+FA I think it's also necessary to maintain good behaviors in the market. On the moment that you would really be boggling up your mind on how this market behaves or works on which same as you had mentioned above that when it comes to volatility then its true that there's no way that we could really be able to predict on where it would be going and this is why it would really be the reason for you to make out those predictions and guesses on where it would really be going. It would really be just that becoming a gamble on the moment that you wont really be applying any analysis into it. If you are really just that placing up your position without any basis or analysis been applied then you are just basically doing 100% gambling.Whereas, into those traders or people who do make having those kind of technical and fundamental analysis on which they are really that trying out to lessening up the risks on losing such trade. Somehow there would really no assurance that you would really be able to make those profitable trades due to unpredictability but it would really be always best that you should really be applying into those things on which really needs to be applied if you are really that serious on trying out to make some profit within this market.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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TheUltraElite
Legendary
Offline
Activity: 2982
Merit: 1311
So anyway, I applied as a merit source :)
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August 16, 2024, 02:36:08 PM |
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Do you ever know the outcome of a trade from the beginning? Impossible to know, "crystal ball" is a scam and so are fortune tellers and those who claim to know which coin is going to rise in the next few hours thus selling it as a "signal". So in as much as you are very good with your TA+FA I think it's also necessary to maintain good behaviors in the market.
Indeed, being able to control those bad emotions whenever market is rising or dropping is important. Be the balls of steel person here, you just have to execute the proper trade and not get scared. The objective is to be able to run the positions such that you profit, in the meantime you have to hold your ground and wait it out, painfully often for months.
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AmoreJaz
Legendary
Offline
Activity: 3206
Merit: 1103
Leading Crypto Sports Betting & Casino Platform
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August 16, 2024, 11:36:15 PM Last edit: August 19, 2024, 05:53:56 PM by AmoreJaz |
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Do you ever know the outcome of a trade from the beginning? Impossible to know, "crystal ball" is a scam and so are fortune tellers and those who claim to know which coin is going to rise in the next few hours thus selling it as a "signal". So in as much as you are very good with your TA+FA I think it's also necessary to maintain good behaviors in the market.
Indeed, being able to control those bad emotions whenever market is rising or dropping is important. Be the balls of steel person here, you just have to execute the proper trade and not get scared. The objective is to be able to run the positions such that you profit, in the meantime you have to hold your ground and wait it out, painfully often for months. As we put it this way, trading signals are not reliable at all. If someone will offer you such service, keep in mind that they are only after for the money. Up until now, no signal trading groups have become popular because they are giving useful signals or should I say, living up to their claim. If there's one, then, we should be hearing it by now. But unfortunately, no group yet has emerge to be the frontrunner on this type of service. So if possible, rely on yourself. Educate and train yourself. It is a matter of time before you will acquire those trading skills and strategies that you can use in your lifetime. Signals are for lazy traders who don't want to learn on their own. Do remember, they have their own motives why they are selling their service.
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pusaka
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
August 17, 2024, 04:57:53 PM |
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Do you ever know the outcome of a trade from the beginning? Impossible to know, "crystal ball" is a scam and so are fortune tellers and those who claim to know which coin is going to rise in the next few hours thus selling it as a "signal". I agree with you that it is impossible to predict accurately where the market will move. We can analyze and predict it but we cannot guarantee that it will actually happen. Moreover, the market conditions are very volatile which is very confusing. We can only try our best with the knowledge and experience we have. If someone claims that they know where the market will move, then I personally doubt it, because usually even a professional will not say such convincing words, especially if it is a claim. So in as much as you are very good with your TA+FA I think it's also necessary to maintain good behaviors in the market.
Indeed, being able to control those bad emotions whenever market is rising or dropping is important. Be the balls of steel person here, you just have to execute the proper trade and not get scared. The objective is to be able to run the positions such that you profit, in the meantime you have to hold your ground and wait it out, painfully often for months. Being confident in our abilities is a good thing, but we also have to know so that our confidence does not become excessive confidence, because being overly confident is also not good. We do that to cover up the fears we have. But of course we must not forget to be careful. Emotions must always be in a stable state, because if our emotions are unstable, then when we do an analysis it may not be optimal based on our knowledge and experience. Only we know whether our emotions are stable or not, because it comes from within and we can tell the difference, although it is quite difficult to tell the difference if we are not used to it.
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| | . .Duelbits. | │ | ..........UNLEASH.......... THE ULTIMATE GAMING EXPERIENCE | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | ..PLAY NOW.. | |
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Cryptmuster
Legendary
Offline
Activity: 2030
Merit: 1261
Bisq
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August 18, 2024, 01:16:35 PM |
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On the moment that you would really be boggling up your mind on how this market behaves or works on which same as you had mentioned above that when it comes to volatility then its true that there's no way that we could really be able to predict on where it would be going and this is why it would really be the reason for you to make out those predictions and guesses on where it would really be going. It would really be just that becoming a gamble on the moment that you wont really be applying any analysis into it. If you are really just that placing up your position without any basis or analysis been applied then you are just basically doing 100% gambling.Whereas, into those traders or people who do make having those kind of technical and fundamental analysis on which they are really that trying out to lessening up the risks on losing such trade.
Somehow there would really no assurance that you would really be able to make those profitable trades due to unpredictability but it would really be always best that you should really be applying into those things on which really needs to be applied if you are really that serious on trying out to make some profit within this market.
In TA there are things that work better, like Elliott Waves, or trend definition, and defining figures may not be such a simple task, you can make more mistakes, but in any case, TA needs a comprehensive approach to take into account several tools for making a decision on the trade. If you open a deal simply because the trader decided that now is a good time without preliminary market analysis, then I agree that this will be just a 50/50 deal, maybe you will be lucky and maybe not. It is difficult to explain in one post, for this you need to spend many hours with visual examples, but it seems to me that in the beginning, every beginner tried to make deals based on their assumptions, and not on market analysis. Being confident in our abilities is a good thing, but we also have to know so that our confidence does not become excessive confidence, because being overly confident is also not good. We do that to cover up the fears we have. But of course we must not forget to be careful. Emotions must always be in a stable state, because if our emotions are unstable, then when we do an analysis it may not be optimal based on our knowledge and experience. Only we know whether our emotions are stable or not, because it comes from within and we can tell the difference, although it is quite difficult to tell the difference if we are not used to it.
You can be as confident as you want in the correctness of your analysis, but the market can go in the opposite direction and eventually form something else, so the ability to correctly determine what is happening on the market is already half the success. For this, you need to spend too much time with charts and take into account reading them, if there is time and desire for this, then the trader can become successful, and how successful, it will depend on the trader.
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pusaka
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
August 18, 2024, 06:11:33 PM |
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Being confident in our abilities is a good thing, but we also have to know so that our confidence does not become excessive confidence, because being overly confident is also not good. We do that to cover up the fears we have. But of course we must not forget to be careful. Emotions must always be in a stable state, because if our emotions are unstable, then when we do an analysis it may not be optimal based on our knowledge and experience. Only we know whether our emotions are stable or not, because it comes from within and we can tell the difference, although it is quite difficult to tell the difference if we are not used to it.
You can be as confident as you want in the correctness of your analysis, but the market can go in the opposite direction and eventually form something else, so the ability to correctly determine what is happening on the market is already half the success. For this, you need to spend too much time with charts and take into account reading them, if there is time and desire for this, then the trader can become successful, and how successful, it will depend on the trader. Even though we can analyze very well, the market can be unfriendly to us and that makes our previous analysis messy. In a situation like this we need calm, as much as possible do not panic because it will cause us to do something that we should not do. Therefore, our mental readiness in the worst situation is very much needed, because we will not always be in a bad situation, especially this is a trade that we know ourselves how it is in it. The analysis we do will not give us a guarantee that it is what will happen, we still have to stay focused on paying attention to fluctuating market movements. If possible we can make some plans, so that when the first plan does not work we can use the second plan. A strategy like this will be very useful when facing the worst.
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| | . .Duelbits. | │ | ..........UNLEASH.......... THE ULTIMATE GAMING EXPERIENCE | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | ..PLAY NOW.. | |
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Cryptmuster
Legendary
Offline
Activity: 2030
Merit: 1261
Bisq
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August 19, 2024, 10:33:19 AM |
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Even though we can analyze very well, the market can be unfriendly to us and that makes our previous analysis messy. In a situation like this we need calm, as much as possible do not panic because it will cause us to do something that we should not do. Therefore, our mental readiness in the worst situation is very much needed, because we will not always be in a bad situation, especially this is a trade that we know ourselves how it is in it. The analysis we do will not give us a guarantee that it is what will happen, we still have to stay focused on paying attention to fluctuating market movements. If possible we can make some plans, so that when the first plan does not work we can use the second plan. A strategy like this will be very useful when facing the worst.
True, but this only concerns your strategy, in trading you can never be completely sure of any deal, the market can present unexpected surprises, so if we are talking about day trading, you need to be ready to react to the situation very quickly, in fact, this is a job that requires your full presence all the time while your deal is open. With medium-term deals, everything is simpler, you can even use averaging, or other techniques that are acceptable for your strategy, here there are more opportunities to correct a mistake if you decide not to exit the deal but wait for the outcome. This once again shows how important it is to have the right strategy in addition to TA, in trading you can only succeed if you approach it comprehensively.
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| | Peach BTC bitcoin | │ | Buy and Sell Bitcoin P2P | │ | . .
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pusaka
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August 19, 2024, 02:55:48 PM |
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Even though we can analyze very well, the market can be unfriendly to us and that makes our previous analysis messy. In a situation like this we need calm, as much as possible do not panic because it will cause us to do something that we should not do. Therefore, our mental readiness in the worst situation is very much needed, because we will not always be in a bad situation, especially this is a trade that we know ourselves how it is in it. The analysis we do will not give us a guarantee that it is what will happen, we still have to stay focused on paying attention to fluctuating market movements. If possible we can make some plans, so that when the first plan does not work we can use the second plan. A strategy like this will be very useful when facing the worst.
True, but this only concerns your strategy, in trading you can never be completely sure of any deal, the market can present unexpected surprises, so if we are talking about day trading, you need to be ready to react to the situation very quickly, in fact, this is a job that requires your full presence all the time while your deal is open. With medium-term deals, everything is simpler, you can even use averaging, or other techniques that are acceptable for your strategy, here there are more opportunities to correct a mistake if you decide not to exit the deal but wait for the outcome. This once again shows how important it is to have the right strategy in addition to TA, in trading you can only succeed if you approach it comprehensively. Well, this will also affect our analysis, I mean when we do daily trading, of course we will analyze the market with a time frame. We ourselves will definitely determine whether to use a short or longer time frame. If we pay attention to market movements from a certain time period, of course we must also understand very well where the price point or moment is that we can enter it. Especially if we trade with a short time, besides we must be able to analyze the market well, we are also required to have a very strong mentality. Because in such a short time we will have a much greater risk. We can lose money in a very short time. Well, we also have to pay attention to risk management, because when our predictions are wrong, at least we can still minimize the loss.
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milewilda
Legendary
Offline
Activity: 3220
Merit: 1146
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
August 19, 2024, 06:48:37 PM |
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Even though we can analyze very well, the market can be unfriendly to us and that makes our previous analysis messy. In a situation like this we need calm, as much as possible do not panic because it will cause us to do something that we should not do. Therefore, our mental readiness in the worst situation is very much needed, because we will not always be in a bad situation, especially this is a trade that we know ourselves how it is in it. The analysis we do will not give us a guarantee that it is what will happen, we still have to stay focused on paying attention to fluctuating market movements. If possible we can make some plans, so that when the first plan does not work we can use the second plan. A strategy like this will be very useful when facing the worst.
True, but this only concerns your strategy, in trading you can never be completely sure of any deal, the market can present unexpected surprises, so if we are talking about day trading, you need to be ready to react to the situation very quickly, in fact, this is a job that requires your full presence all the time while your deal is open. With medium-term deals, everything is simpler, you can even use averaging, or other techniques that are acceptable for your strategy, here there are more opportunities to correct a mistake if you decide not to exit the deal but wait for the outcome. This once again shows how important it is to have the right strategy in addition to TA, in trading you can only succeed if you approach it comprehensively. Well, this will also affect our analysis, I mean when we do daily trading, of course we will analyze the market with a time frame. We ourselves will definitely determine whether to use a short or longer time frame. If we pay attention to market movements from a certain time period, of course we must also understand very well where the price point or moment is that we can enter it. Especially if we trade with a short time, besides we must be able to analyze the market well, we are also required to have a very strong mentality. Because in such a short time we will have a much greater risk. We can lose money in a very short time. Well, we also have to pay attention to risk management, because when our predictions are wrong, at least we can still minimize the loss. Everything should really be that in harmony or getting in line in speaking about the ways or methodon which if you are really that doing it on active manner then it would be of course needing up that active approach when it comes to the things that you would really be doing. It would really be something that you will be able to see and notice it out on the moment that you would really be doing out such actions. Trading psychology is something that you would really be normally be able to come up on the time that you would be able to assessing it out on what are the things that you are currently doing. It would be normal that you would really be that mindful on what are the tools and analysis that you are applying basing up on the timeframe that you are really that trying to achieve on. It would really be impossible that you cant really be able to make yourself that thinking up the best way or possible method that you could be having that kind of advantage. Although its never been that an assurance that you could be ending up positively on which we know that when it comes into this aspect then it would really be that truly cant be predicted on what would happen in the future on which it would neither a hit or miss but of course youw ould really be having that have better chance if you do know on how to apply analysis and other related aspect like risks management and stuffs.
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