Trading with the right mindset

[I_Anime]

This is what many traders lacks . And what make most of them compares trading and gambling, yeah they relate to some extent ( I will just say in the emotions part ). Yeah gambling and trading gives similar feelings when one is winning or losing , but works differently.

Now I will go straight to the point , Right Mindset a trader should have:

> Probabilistic thinking : knowing that losses are inevitable, because every trade has a chance to win or lose , focus one the edge not guarantees

> Emotional discipline: yes there’s two main popular emotions in trading which is fear and greed , but try to learn. How to control those emotions , don’t let emotions dictate your trades .

> patience : Never being in a hurry to trade always wait for high quality set ups with good risk to reward ratio , instead of forcing trades

> Risk-first mentality : most folks usually neglect this due to greed and big wins. Try protecting your capital before chasing profits , this should be one of your focus and stop blowing accounts

> Long-term focus : This one is very important , think in terms of consistent growth , not one time wins.(like some kind of gambling or something ) , most big traders went through the phase you are now .

> consistency over excitement: stick to your system rather than chasing adrenaline.

> Adaptability: you know the market conditions can’t always be the same so you need to learn how to adapt . Like adjusting strategies when the market condition changes .

And always make sure you do your research before trading any pairs , token , commodities or currency.

[gunhell16]

Without proper management, trading is undoubtedly quite stressful. While you're in the middle of a trade, it can quickly get out of hand and result in the complete loss of your assets. I don't disagree with what you said because all traders can benefit much from those things.

Simply being patient is insufficient; we also need to be consistent in our actions, which is, to be honest, easier said than done. I absolutely concur with your comments, and it's crucial that newcomers and members of other communities read this in order to at least gain a firm understanding of how trade actually operates.

[Gozie51]

> Long-term focus : This one is very important , think in terms of consistent growth , not one time wins.(like some kind of gambling or something ) , most big traders went through the phase you are now .

So I don't think all trade or traders focus on long term because we have different types of trading, from scalpers, to daily and swing. They are not all about long term like the scalper who just take the risk in lower time frame and even the daily trader. This is also like the gambler, he doesn't really focus on the future but what is going to profit him on the short term. As a trader then you should be able to identify the type of trader you are and the target best for you.

[I_Anime]

> Long-term focus : This one is very important , think in terms of consistent growth , not one time wins.(like some kind of gambling or something ) , most big traders went through the phase you are now .

So I don't think all trade or traders focus on long term because we have different types of trading, from scalpers, to daily and swing. They are not all about long term like the scalper who just take the risk in lower time frame and even the daily trader. This is also like the gambler, he doesn't really focus on the future but what is going to profit him on the short term. As a trader then you should be able to identify the type of trader you are and the target best for you.

I’m not talking about how long one should hold or be in a trade . What am talking about Is the process of growth in trading. Every traders have a particular phase they will have to pass through to be pro or a profitable trader . So it usually takes time for some traders to get to that point , but doesn’t means they won’t get there but they don’t have to rush things like taken irrelevant risks like using bigger leverage, rather to focus on small consistent growth .

[Y3shot]

Trading normally seems to be like gambling to those who misunderstand it, who are just willing to come into trading for the sake of making quick money.

Understanding is very important in trading; it gives one a better mindset of how to approach trading. However, when there is no understanding, it just seems like gambling, where one is only relying on luck to win. When it comes to trading, understanding is everything.

[Rruchi man]

> Probabilistic thinking : knowing that losses are inevitable, because every trade has a chance to win or lose , focus one the edge not guarantees

There are traders who consider their strategy a failure just after one failure or even consider that trading is perhaps not for them after they fail just once. Everyone loses a trade; even the most successful traders lose trades too. Why they are referred to as successful traders is because they manage their risk properly; they win more than they lose.

Try protecting your capital before chasing profits , this should be one of your focus and stop blowing accounts

Treat trading as a business; always protect your capital. It is better to miss an entry and save your capital than to rush into entries and loose your capital.

[Zaguru12]

There are traders who consider their strategy a failure just after one failure or even consider that trading is perhaps not for them after they fail just once. Everyone loses a trade; even the most successful traders lose trades too. Why they are referred to as successful traders is because they manage their risk properly; they win more than they lose.

The best case scenario for most of all these traders who do not actually trust the strategy after just a single failure is because the strategy isn’t there’s and there is high probability that they are using a strategy which is not actually his strategy but simply borrowed strategy and this is usually most common by traders who are actually just so focus on making profit and simply just follow other people’s strategies and this is one of the most common reasons why we have more unsuccessful traders today in the space simply because most of the traders are looking for easy ways to actually make profit.

The thing is every successful have their own trading strategy which also sometimes encompasses the risk tolerance for them and this is actually the reason why those who borrowed the strategy are usually at a loss because the risk around such might be one that is not suitable for the trader this is why we have not just losers in trading but also heavy losers who most of the time usually get liquidated because they simply follow others strategy without strictly adhering to their own risk management.

[GreatArkansas]

> Long-term focus : This one is very important , think in terms of consistent growth , not one time wins.(like some kind of gambling or something ) , most big traders went through the phase you are now .

> consistency over excitement: stick to your system rather than chasing adrenaline.

These 2 points are really making me bad, because I can relate to these, I almost experience this when I am trading. But these also exist in those traders who are just starting because I'm like this before.
The consistency sometimes makes my system break because I'm not sticking to it:D
About the long-term focus - many new to trading can relate to this, like after a few trades, especially losing trades, they tend to stop after that due to other reasons like maybe losing already too much or not enough capital to continue anymore.

[SmartGold01]

What most of the people think about trading is thar a quick place to make quick money, initially I was also having this same mindset as well because most times when you look out how most people talks about trading it sounds so easily and simple without knowing there are more things to know about trading. Discipline, fund management, consistency, research all these attributes to successful trading but anyone who can't be able to control themselves towards could likely found it very hard to scale through that part.

[Big Dirams]

What most of the people think about trading is thar a quick place to make quick money, initially I was also having this same mindset as well because most times when you look out how most people talks about trading it sounds so easily and simple without knowing there are more things to know about trading. Discipline, fund management, consistency, research all these attributes to successful trading but anyone who can't be able to control themselves towards could likely found it very hard to scale through that part.

When people talks about trading most people who haven’t been into trading or encounter anything with trading they always felt that way like they do feel trading is a very easy process activity that gives traders money freely and quickly without putting any serious work or effort not knowing that trading deals with emotions, feelings, mindset, analysis and alot more that is even harder than we thought.
 Trading might sounds fun or interesting while people are talking about it on the media most especially those who call themselves pro traders that are living luxuries life but to be honest trading is way more complicated than that.

[Charles-Tim]

patience : Never being in a hurry to trade always wait for high quality set ups with good risk to reward ratio , instead of forcing trades

This is what should be most important to traders but they will not be patient because not being patient is the reason most of them are trading as they want fast means of earning money. They will begin to trade and lose instead. If they are patient and trade in the right way, they will make money. People that are patient are the people that make money in trading. Patience is linked to the use of low leverage, money management and other things that can make someone become a successful trader.