This psychology hack helped me become a profitable trader

[Rengga Jati]

Ah, here it is. That's how it should be. Trading is one of the side jobs that is carried out. Even if it becomes a full time job, make sure it is enough for a truly professional trader and is already earning a lot. However, for beginners or traders who are not yet that significant, it is not good if it is a full time job and we only rely on that.

And, it's indeed.
However, financial and psychological stress will really have an impact on our mentality and emotions. And emotions are one of the factors that really influence our success in trading, right? If we can really control our emotions, we will be calmer in facing all market conditions and can think clearly to make decisions. However, if our emotions are unstable and we are in a very depressed mood, then we will become more stressed in trading, which will make it even easier to survive and get profits.

And this has also been mentioned many times in various articles related to this.

More information:
https://www.bitstore.net/en/blog/psychology-of-investing-in-cryptocurrencies/
https://www.linkedin.com/pulse/psychology-crypto-trading-how-win-unemotional-alfabitgroup-ttyie#

[Viscore]

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.

I can see that trading offers a highly profitable returns, but not all traders are highly capable and profitable. They may be doing good at first but eventually lose their money until they used up all their funds because of trading. That's exactly the reason why one should never just rely on trading alone, but find a real job as well or look for other sources of income where profits come sustainably. That's the only way where you don't get pressured with trading, that even at times you lose, your finances will never be completely ruined.

[uswa56]

I can see that trading offers a highly profitable returns, but not all traders are highly capable and profitable. They may be doing good at first but eventually lose their money until they used up all their funds because of trading. That's exactly the reason why one should never just rely on trading alone, but find a real job as well or look for other sources of income where profits come sustainably. That's the only way where you don't get pressured with trading, that even at times you lose, your finances will never be completely ruined.

Of course not everyone can make a profit from every trade they make and to be able to make a profit will of course really depend on their skills and experience in trading, I really agree with you that someone should not only rely on income from trading alone because when we experience several failures in trading then we can still have income that can meet the needs we need because in trading it is very difficult to get profits consistently and when we experience failure in trading and do not have other sources of income of course it will put us in financial problems and I think it is important for everyone when trading that they are really prepared in terms of funds and that when they fail they don't have problems in terms of their finances.

[jcojci]

I can see that trading offers a highly profitable returns, but not all traders are highly capable and profitable. They may be doing good at first but eventually lose their money until they used up all their funds because of trading. That's exactly the reason why one should never just rely on trading alone, but find a real job as well or look for other sources of income where profits come sustainably. That's the only way where you don't get pressured with trading, that even at times you lose, your finances will never be completely ruined.

Only those who wants to learn more about trading and have skills that be able to have a highly profitable returns. Not many people wants to learn more about trading so that makes them only gets lose their money. Besides that, trading needs emotional controlling to see when they can enter and quit trading which is not many people realizes. They becomes greedy when they see their profit comes and forget to place a sell order and still wait for more because they see that they have more chances to make a bigger profit. But that will not always happens since the market still moves wild and no one can predict what will happens in the next minutes or hours.

[Dzwaafu11]

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.

This is best known to everyone as a trader who wants to be successful and earn a lot of money. Trading must not rely only on trading because it is bad to take trading as only a source of income. trading can reck you in a short period of time, so it is better if you have another source of income that can suppose your trading for the fact that sometimes you may lose money in trading and won’t get another money to solve financial problems, but if you have another source of income, it won’t be an issue since you will just use your main job to solve your financial problems.

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.

Fact. This is the truth because having multiple sources of income will make you trade with caution and try your best to manage every situation in the market, but without a job, a trader will definitely find it difficult to manage his or her 

[AmoreJaz]

If trading gives you the maximum amount of profits, then why won’t stick to it? I believe it’s a case to case basis as well. However, make use of trading profits to acquire other assets or properties as well. When you achieve that, there will be more sense of financial security for you. Keep on trading, but never stop there, utilize it for another great advantage, that is increasing your wealth by increasing your investments as well.

That is one way to approach how you will maximize your profits in trading and become sustainable in terms of generating other income. Not only assets or properties but you can also start a small business you are more familiar with. Look for options that you believe you can fall back on if your trading profits is not doing well. From what I have experienced in trading, even if you are very confident with yourself that you will gain profits, you can still get ruined because no one knows where the market is actually heading to, especially those projects which are into pump and dump schemes.

[$weetne$$]

Only those who wants to learn more about trading and have skills that be able to have a highly profitable returns. Not many people wants to learn more about trading so that makes them only gets lose their money.

If they do not want to learn while they are trading, they are going to make mistakes that would make them to lose. Trading does not have a final time that you can say you have learnt everything about trading and there is no further knowledge to acquire. There is always new strategy and things to learn to help you make better decision when trading. A trader needs helps from other sources of getting money because trading is a risky business and not one that you can be sure that you will make profits when you enter the market. The market can move against you and you get lost in a trade that you analyzed yourself and was sure that you are going to make profits as you trade

[GreatArkansas]

(...)

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

It makes sense, you OP are more likely playing less risk here because I can feel you, it's not always a win when you are trading.

For me, I can share a good tip: Practice patience and discipline.
It's important because it will help you to maximize your profits and minimize the risk. Plus the risk management.
Example to achieve this is like set clear criteria, use trading journal and take break sometimes, not all the time is good to trade.

[BlackBoss_]

It makes sense, you OP are more likely playing less risk here because I can feel you, it's not always a win when you are trading.

For me, I can share a good tip: Practice patience and discipline.
It's important because it will help you to maximize your profits and minimize the risk. Plus the risk management.
Example to achieve this is like set clear criteria, use trading journal and take break sometimes, not all the time is good to trade.

In trading, no perfect winning rate for any trade and being disciplined is key to firstly avoid loss and lastly, to help gaining profit. Profit only can come if a trader is disciplined first, and to disciplined, many things needed.

The trader needs to be knowledgeable about fundamentals, technical indicators and order types then apply them for his trading orders. Order types like Stop loss or Stop limit order can help to minimize risk and big loss for a trader.

Stop loss order: one of best weapons in trading
Stop-Limit Order: What It Is and Why Investors Use It

[jcojci]

Only those who wants to learn more about trading and have skills that be able to have a highly profitable returns. Not many people wants to learn more about trading so that makes them only gets lose their money.

If they do not want to learn while they are trading, they are going to make mistakes that would make them to lose. Trading does not have a final time that you can say you have learnt everything about trading and there is no further knowledge to acquire. There is always new strategy and things to learn to help you make better decision when trading. A trader needs helps from other sources of getting money because trading is a risky business and not one that you can be sure that you will make profits when you enter the market. The market can move against you and you get lost in a trade that you analyzed yourself and was sure that you are going to make profits as you trade

That is what they will gets from trading and their lose will becomes bigger. We should manage our time to trade, especially in crypto trading, we can enter to the market anytime we wants but we must analyze the market before we enter to the market. Crypto trading will always moves and not stops so that is why we must learn more and more to find a new strategy that will works for us. When we can adapt to the current market situation, we will see when our chance is comes so we can enter to the market in the right time. But that needs more experiences to finds the right time to enter to the market and more practices so we can make a profit.

[Gaza13]

Most successful traders are managing other people's money and not only their money. Which would be my recommendation to anybody who wants to become successful and rich through trading. Building a track record of a great trader is going to help to attract new clients. The benefit of trading with other people's money is that you can put on larger positions and you not only profit from when your trades are doing well. As a trader you know every day if you make money or are losing money, your positions are red or green, there is no inbetween. When trading money for other people who usually get a fixed fee for the assets you trade. This helps to generate income during bad months or when the markets are moving sideways.

Why should we entrust them to get profits from trading, why don't we just do it ourselves? I don't think that's a recommendation to become a great or successful trader from other people's money? The potential to lie or deceive the person is certain. Usually, most people who are deceived, as you said above, are people who are new to the world of investment and think that they are a quick way to get rich or get money quickly and instantly and they dare to place their trust in people who are already experts in that field. If the person is familiar with investments, of course they will not trust anyone, especially if their money is controlled by someone else.