Psychology is never fully mastered, it requires continuous work.

[Coin_info]

Psychology is difficult to master, it is not a one time thing where a trader can claim that they have mastered their psychology completely, but a continuous process of trying to attain and maintain that balance after it has been achieved. This is one of the major lessons that the recent dip in the value of cryptocurrency taught me. Many of the traders who took their lives are not new traders from what I observed, many already have experience in the market and have been trading for a long time even to the extent that people were able to entrust some money into their hands to trade with, to these persons they must have reasoned that they have mastered their psychology and nothing could affect them anymore, until the event of that day that led to many of them ending their lives.

The realization that the mastery of psychology is a continuous process will help any trader not to become too overconfident. What do you think?

[Dogedegen]

Psychology can never be mastered, but to make the situation even more drastic is the fact that most people have not even completed the basics.

Psychology is difficult to master, it is not a one time thing where a trader can claim that they have mastered their psychology completely, but a continuous process of trying to attain and maintain that balance after it has been achieved. This is one of the major lessons that the recent dip in the value of cryptocurrency taught me. Many of the traders who took their lives are not new traders from what I observed, many already have experience in the market and have been trading for a long time even to the extent that people were able to entrust some money into their hands to trade with, to these persons they must have reasoned that they have mastered their psychology and nothing could affect them anymore, until the event of that day that led to many of them ending their lives.

What must be understood here that having time in an market does not make you an expert. This is a common confusion. Sure spending time in something does technically give you experience but not all experience is equal. What mostly happens is that time spent in the market when combined with some lucky successes deludes people into thinking that they are experts. Someone who has valuable experience and expertise would never over leverage themselves and especially not using someone else's money. That shows a high degree of psychological immaturity and trading amateurism.

[Zaguru12]

The realization that the mastery of psychology is a continuous process will help any trader not to become too overconfident. What do you think?

How can one actually master something that is dynamic or something that is always evolving, the bitcoin market or the general crypto market is influenced by factors which are actually changing and not static so this means that one cannot get a mastery of this condition rather one can use the knowledge and understanding of the past event to fathom what might later transpire.

Psychology is one of the most important tools in actually been a successful trader or investor but one cannot have a complete psychology there are events that will shake it up just of recent we had one of the greatest or biggest liquidation in a day and we saw reports of multiple traders committing suicide this is a clear example of how psychology can be shattered on some rare market before

[SilverCryptoBullet]

Psychology is one of the most important tools in actually been a successful trader or investor but one cannot have a complete psychology there are events that will shake it up just of recent we had one of the greatest or biggest liquidation in a day and we saw reports of multiple traders committing suicide this is a clear example of how psychology can be shattered on some rare market before

It is very important, and even can be called as vital for traders and even for investors in the market.

All knowledge about fundamentals and trading analysis are useless if people can not understand about the psychology of market cycle and fail to control their emotion, then actions.

Psychology of market cycles.

This chart needs to be printed and pinned on the wall where you can easily see daily.

[dunfida]

The realization that the mastery of psychology is a continuous process will help any trader not to become too overconfident. What do you think?

How can one actually master something that is dynamic or something that is always evolving, the bitcoin market or the general crypto market is influenced by factors which are actually changing and not static so this means that one cannot get a mastery of this condition rather one can use the knowledge and understanding of the past event to fathom what might later transpire.

Psychology is one of the most important tools in actually been a successful trader or investor but one cannot have a complete psychology there are events that will shake it up just of recent we had one of the greatest or biggest liquidation in a day and we saw reports of multiple traders committing suicide this is a clear example of how psychology can be shattered on some rare market before

The crypto market in particular makes this even harder because of its speed and volatility it’s not like traditional assets where changes happen gradually here you can see prices crash or surge in minutes and that kind of movement triggers powerful emotions fear greed panic or overconfidence that’s why psychology in trading isn’t something you master once and forget it’s something you manage continuously every single trade. Learning from past events helps a lot you can’t predict what will happen but you can build mental habits that prepare you for different possibilities having a plan using stop losses keeping emotions in check and accepting that losses are part of the process all help strengthen trading psychology the moment you start believing you’ve mastered it completely is when overconfidence starts creeping in and that’s usually the first step toward big mistakes.