This psychology hack helped me become a profitable trader

[Faisal2202]

As a trader, it's not good to rely solely on trading as your only source of income. Why? Depending solely on trading puts immense pressure on you to meet monthly bills. The consequence? You may find yourself taking unnecessary and low-quality trades.

However, when you have another or multiple other sources of income alongside trading, you can stay relaxed and have the mental comfort needed to make quality decisions. For example, you can be a trader and be a Bitcoin miner.

Do you have another trading psychology tip to share with me?

It's a good tip, but most of people come into trading to make money, so if they already have enough money to start another business or source of income then half of them might not come into trading. So the point is, money is needed to start another source of income and many planned to make that money from trading first. But if one becomes successful in doing that, he should really focus on setting up another source of income.

BTW, Another source of income also requires funds, time, and management, so saying you will be getting mental comforts if you will have another source of income that's not true. But yeah sometimes, when you might not be making money from trading, your other source of income will be making money for you, and that's relief. I would say besides doing the other work by yourself, hire an expert to do that task for you.

[Dr.Bitcoin_Strange]

Well, it depends, bro. There are some people whom everything about their career is just "trading." They have been trading for a very long time, have become good at it, and have become so profitable that they are only trading. Some old-time traders are very rich, and they have also made investments in other assets from the profits they made from trading.

For someone who has just started a career in trading, they need to already have something that is fetching them money before they can start trading. On a similar thread like this, which I came across before, the advice I gave was that a new trader should have other sources of income too until they have begun to make a sustainable and consistent income from trading.

[Zadicar]

As a trader, it's not good to rely solely on trading as your only source of income. Why? Depending solely on trading puts immense pressure on you to meet monthly bills. The consequence? You may find yourself taking unnecessary and low-quality trades.

However, when you have another or multiple other sources of income alongside trading, you can stay relaxed and have the mental comfort needed to make quality decisions. For example, you can be a trader and be a Bitcoin miner.

Do you have another trading psychology tip to share with me?

The key on here is that you shouldnt really be trading on the amount on which you cant afford to lose and just like on what you had said that on the moment that you would really be persevering on making it as your main source of income then it would really be giving out that kind of desperation on which you would really be that prioritizing on how you would really be able to make out those profits or money that you can be able to do with your trades on which this is really that something very wrong. This is why on the moment that you would really be finding out and realize for yourself on what are the things that you do mainly needed then
you would really be that immediately be doing on what are those things that you would really be gonna be able to do or wants to do without pressuring yourself on making profits since you've been wary on the situation.

There's no such thing about hacking your mind or whatsoever on which the main key on here is on how you do make yourself that be dealing up yourself towards the market with having
that kind of realistic approach and not someone whose really that being that too delusional and hopeful on making profits. If you are someone whose really that applying that risks management then this is something that will really be leading up with those non stressful trades. Yes, its risky but doesnt mean that you cant be able to make yourself that engaging with it without having those worries.

[irhact]

However, when you have another or multiple other sources of income alongside trading, you can stay relaxed and have the mental comfort needed to make quality decisions. For example, you can be a trader and be a Bitcoin miner.
Do you have another trading psychology tip to share with me?

Ypur trading psychology is good as it'll help you to not always be under pressure to keep trading or over exceed your limit just to make it possible to be in profits as you don't have other sources of income to provide for your needs. If you have only trading as your source of income, you can never be trading with a disciplined mindset. All you'll be concerned about are how you can make profits and when it doesn't come successfully, you'll get disappointed and it can lead to something worst.

Addiction is the result that you'll get when you're always disappointed, you wouldn't want to accept the reality that you aren't making profit by thinking if you continue to trade that you can get better and make profits and while you're doing that, you're still losing money. My psychology is to only trade nothing more than 25% of my income after taxes.

[fullhdpixel]

As a trader, it's not good to rely solely on trading as your only source of income. Why? Depending solely on trading puts immense pressure on you to meet monthly bills. The consequence? You may find yourself taking unnecessary and low-quality trades.

However, when you have another or multiple other sources of income alongside trading, you can stay relaxed and have the mental comfort needed to make quality decisions. For example, you can be a trader and be a Bitcoin miner.

Do you have another trading psychology tip to share with me?

I'd support you in everything you said apart from the part where you said one can become a Bitcoin miner. The reason is that individual mining is not profitable anymore unless someone is ultra-rich and can afford to create a mining farm with a lot of mining equipment and for that, they will need to make sure they are getting electricity at a cheap rate so that the coins they might mine shouldn't go in maintenance of the mining farm alone.

You are right about trading having another source of income when they are trading, especially when they are new to it. Someone experienced might be able to become a full-time trader because their mind becomes mature after some point and they can make sane and critical decisions even under a lot of pressure.

[Poker Player]

As a trader, it's not good to rely solely on trading as your only source of income. Why? Depending solely on trading puts immense pressure on you to meet monthly bills. The consequence? You may find yourself taking unnecessary and low-quality trades.

However, when you have another or multiple other sources of income alongside trading, you can stay relaxed and have the mental comfort needed to make quality decisions. For example, you can be a trader and be a Bitcoin miner.

Something similar happens with Poker, it is better not to depend exclusively on it, especially when you start. In this is similar to trading, what happens is that there comes a time in some people's lives when they become so good and earn so much money that they decide to take the leap to become professionals. But for this you have to have your back covered, as to be able to withstand a year of losses, because the bad streaks exist, in addition to some passive income and other assets help to tranquility and make the right decisions.

[jaberwock]

Well, it depends, bro. There are some people whom everything about their career is just "trading." They have been trading for a very long time, have become good at it, and have become so profitable that they are only trading. Some old-time traders are very rich, and they have also made investments in other assets from the profits they made from trading.

For someone who has just started a career in trading, they need to already have something that is fetching them money before they can start trading. On a similar thread like this, which I came across before, the advice I gave was that a new trader should have other sources of income too until they have begun to make a sustainable and consistent income from trading.

A career is a course that makes you money and this is where we tend to focus in order to sharpen our skills and knowledge about it. This is exactly what professional traders you are describing there are experiencing. It's okay to have other investments in the side because they're only for passive income and there is no point of hoarding money for nothing. It can as well deteriorate over time.

Trading requires a good amount of capital, so it's no-brainer that to have some source of money is needed first. They can have a good start but I wouldn't be really confident and drop my previous income sources. That's too early and I might regret it later on.

[Russlenat]

As a trader, it's not good to rely solely on trading as your only source of income. Why? Depending solely on trading puts immense pressure on you to meet monthly bills. The consequence? You may find yourself taking unnecessary and low-quality trades.

However, when you have another or multiple other sources of income alongside trading, you can stay relaxed and have the mental comfort needed to make quality decisions. For example, you can be a trader and be a Bitcoin miner.

Do you have another trading psychology tip to share with me?

The key on here is that you shouldnt really be trading on the amount on which you cant afford to lose and just like on what you had said that on the moment that you would really be persevering on making it as your main source of income then it would really be giving out that kind of desperation on which you would really be that prioritizing on how you would really be able to make out those profits or money that you can be able to do with your trades on which this is really that something very wrong. This is why on the moment that you would really be finding out and realize for yourself on what are the things that you do mainly needed then
you would really be that immediately be doing on what are those things that you would really be gonna be able to do or wants to do without pressuring yourself on making profits since you've been wary on the situation.

There's no such thing about hacking your mind or whatsoever on which the main key on here is on how you do make yourself that be dealing up yourself towards the market with having
that kind of realistic approach and not someone whose really that being that too delusional and hopeful on making profits. If you are someone whose really that applying that risks management then this is something that will really be leading up with those non stressful trades. Yes, its risky but doesnt mean that you cant be able to make yourself that engaging with it without having those worries.

Well, aside on trading on the amount you can afford to lose, and having an effective risk management in trading, developing a solid trading plan and sticking to it is very vital to be a successful and profitable trader. Just focus on that and by continuous education and proper discipline, there will be bigger chances to end up trading profitably.

[taufik123]

My experience of trading to meet the needs of life is quite difficult because I have to fight with trading psychology, which even makes me very stressed.
If it is not balanced with trading knowledge such as good technical and fundamental analysis, then never hope to continue to profit in gambling.
It was very taxing on my psychology.

I only trade when there is capital and opportunities that are indeed good.
As in a bear market and buying the top coins that are in a fairly deep correction as it is today.

I don't make a lot of money from trading, I participate in Art Contests, Signature campaigns and become an Airdrop hunter to get a more certain income and enough to be used as investment capital and build a good enough portfolio.

[EarnOnVictor]

As a trader, it's not good to rely solely on trading as your only source of income. Why? Depending solely on trading puts immense pressure on you to meet monthly bills. The consequence? You may find yourself taking unnecessary and low-quality trades.

However, when you have another or multiple other sources of income alongside trading, you can stay relaxed and have the mental comfort needed to make quality decisions. For example, you can be a trader and be a Bitcoin miner.

Do you have another trading psychology tip to share with me?

This is a good one, but it is not applicable to all. Fine, it is not so wise to be engaging in a risky business like trading and depend solely on it, but that is applicable solely to those who just started it or have not been making consistent profits from it. However, there are good traders too, but they would have attained some sustainable level with it before relying that much on it. If a trader has been trading successfully for a year or two, such would have built some kind of confidence to rely on it. Nevertheless, I often advise this kind of trader to tread carefully, they should diversify as trading could be so challenging at times or something bad could happen especially on the brokers' side that could happen through cheating or insolvency.

I've lived long enough in the world of trading and investment to experience a lot that is happening in the market. Though it is well regulated but it is a business, and for this, business circumstances could happen to it as well.

As for other psychological tips required, another important one that is similar to yours is to invest the money that is affordable to lose for the trader, otherwise, it affects the trader's psychology seriously. Even at that, the trader should maintain low-risk trading so that it will not affect his psychology. And despite being disciplined, there is what we call "determination" as well, without it, the discipline can't be effective, this, I know is good for the psychology of any trader.

[justdimin]

I'd support you in everything you said apart from the part where you said one can become a Bitcoin miner. The reason is that individual mining is not profitable anymore unless someone is ultra-rich and can afford to create a mining farm with a lot of mining equipment and for that, they will need to make sure they are getting electricity at a cheap rate so that the coins they might mine shouldn't go in maintenance of the mining farm alone.

You are right about trading having another source of income when they are trading, especially when they are new to it. Someone experienced might be able to become a full-time trader because their mind becomes mature after some point and they can make sane and critical decisions even under a lot of pressure.

I think even someone who is experienced, could still realize the benefit of having a source of income that is not trading. That doesn't mean that a veteran who does very well profit should go out and find a job, if they are happy with the amount of income they are making, they shouldn't really end up working for someone else.

But they could have a passive income, put some money at 8% bonds, or just do staking at crypto, or whatever else, dividends from some stocks maybe, I do not care. In the end, there should be some source of income coming your way even when you are not trading, and if you do that, then you live off that income, and then your capital at trading will not be touched and will only be used for trading and not living.

[tygeade]

As a trader, it's not good to rely solely on trading as your only source of income. Why? Depending solely on trading puts immense pressure on you to meet monthly bills. The consequence? You may find yourself taking unnecessary and low-quality trades.

However, when you have another or multiple other sources of income alongside trading, you can stay relaxed and have the mental comfort needed to make quality decisions. For example, you can be a trader and be a Bitcoin miner.

This isn't really a "psychology" help, having an income making you feel better is common and it's a financial one. Basically it is saying "have an income from somewhere else, and then you can have an income from crypto trading a lot easier", which isn't shocking. However, if you really feel like you want to see some serious psychology hack, you can always train yourself. How? Well that pavlovs dog thing isn't wrong, if you train yourself day by day, to feel more relax when you are stressed, then you could make it better.

Whenever you are super happy, or made some profit, or basically in general have good feelings, do something, like eat a candy, wipe your nose, make a trigger basically for it. Then when you feel stressed or anxious, do that, and your body will act as if something great happened.

[Falconer]

My experience of trading to meet the needs of life is quite difficult because I have to fight with trading psychology, which even makes me very stressed.
If it is not balanced with trading knowledge such as good technical and fundamental analysis, then never hope to continue to profit in gambling.
It was very taxing on my psychology.

I only trade when there is capital and opportunities that are indeed good.
As in a bear market and buying the top coins that are in a fairly deep correction as it is today.

I don't make a lot of money from trading, I participate in Art Contests, Signature campaigns and become an Airdrop hunter to get a more certain income and enough to be used as investment capital and build a good enough portfolio.

Psychological problems very often arise in traders who expect daily profits on the market.
In my opinion, this is very difficult and of course traders like this tend to experience stress because they push themselves too hard to get consistent profits. Even if they could, then I'm sure they would be very tired from their activities.

Experienced traders are basically very likely not to trade every day, I mean they only trade at certain moments and get sufficient returns from their large budget. If you can get 4x profit in a month as a trader from 4 trades, then you can say you are successful as a trader and your psychology tends to be good.

[Maslate]

Well, it depends, bro. There are some people whom everything about their career is just "trading." They have been trading for a very long time, have become good at it, and have become so profitable that they are only trading. Some old-time traders are very rich, and they have also made investments in other assets from the profits they made from trading.

For someone who has just started a career in trading, they need to already have something that is fetching them money before they can start trading. On a similar thread like this, which I came across before, the advice I gave was that a new trader should have other sources of income too until they have begun to make a sustainable and consistent income from trading.

Trading is actually a tough job, but there are still who managed to excel in it regardless of the high risks involved. It's just that some people are born to be professional traders and become highly profitable in the process.

However, despite of the fact these days that trading can fastly transform your life into rags to riches, reality remains that trading is never a long term and sustainable job. Once the crypto market vanish, everything will be gone in an instant. It's still best to find a stable job that will be reliable for survival, and let trading remains a side hustle.