Trading with the right mindset

[MarjorieZimmermanGinger]

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:

Uncontrolled emotions often lead to failure in trading and may resemble gambling. Becoming a professional trader requires several phases because it's impossible to gain experience without consistent direct involvement. Trading based on emotions won't allow someone to learn from mistakes because their mindset is only focused on profit. Evaluation of each trade is necessary so that one can become more mature in determining good trading patterns and strategies. Discipline is needed to reach a better trading stage because we will go through several phases that will make someone more experienced in trading.

[CageMabok]

...

Uncontrolled emotions often lead to failure in trading and may resemble gambling. Becoming a professional trader requires several phases because it's impossible to gain experience without consistent direct involvement. Trading based on emotions won't allow someone to learn from mistakes because their mindset is only focused on profit. Evaluation of each trade is necessary so that one can become more mature in determining good trading patterns and strategies. Discipline is needed to reach a better trading stage because we will go through several phases that will make someone more experienced in trading.

Not only in trading, but in other professions as well, emotions should not be prioritized because that is an option that will lead to destruction for anyone. And for me, a trader who has become somewhat professional is not only shaped by experience, but also by their resilience to changing market conditions and the losses they have experienced. Because no matter how skilled a trader is, they will inevitably experience losses, even if only in certain moments or in amounts they can accept when they occur.

[Muba20]

Trade and gambling are two different activity but, both are risky and unpredictable kind of activity although with the right approach trade can be more suitable when a person understands the basic knowledge. Op already mentioned few and patience is one of the most valuable key to trade success, knowledge is also considered important as seen without knowledge there’s no successful trade yet nothing is guarantee reason why over confidence about the market movement or trade analysis can be disappointing when things don’t go as planned, trading pattern matters  especially when the market is not in your favour firstly the main focus must be the capital.

You are right, trading and gambling are two different methods. Both are not risk-free. In trading, we make decisions based on information, market analysis, risk tolerance, planning, and experience in trading. Although it is difficult to identify the market fluctuations of Bitcoin with certainty. Traders can control the risks through their own risk management. On the other hand, gambling is a game of luck. The results depend mostly on luck. Whether trading or gambling, both become full of risks when there is no self-control. Again, taking big risks due to overconfidence is one of the reasons for losses. Market fluctuations are uncontrollable, but our own risk management is controllable. Gambling is uncertain, but if we can make rational decisions based on correct information and analysis in trading and considering the risk tolerance, it is possible to control our losses.

[Vaculin]

Some of these are not really necessary prior to trading since they can be learned and managed to develop throughout the trading journey. But one thing that should be a must before trading is that you should know well how trading works and you should know your ultimate goal why you enter trading.

Because if you are only here due to peer pressures or because you are greedy with other people's success, you will not succeed with that type of mindset. Know your potentials and assess yourself if you can be a good trader or not, otherwise learn to quit trading while its still early and while losses are still manageable.

[Mehmet69]

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Uncontrolled emotions often lead to failure in trading and may resemble gambling. Becoming a professional trader requires several phases because it's impossible to gain experience without consistent direct involvement. Trading based on emotions won't allow someone to learn from mistakes because their mindset is only focused on profit. Evaluation of each trade is necessary so that one can become more mature in determining good trading patterns and strategies. Discipline is needed to reach a better trading stage because we will go through several phases that will make someone more experienced in trading.

Not only in trading, but in other professions as well, emotions should not be prioritized because that is an option that will lead to destruction for anyone. And for me, a trader who has become somewhat professional is not only shaped by experience, but also by their resilience to changing market conditions and the losses they have experienced. Because no matter how skilled a trader is, they will inevitably experience losses, even if only in certain moments or in amounts they can accept when they occur.

Yes, you are right. Experienced traders also face losses, but their losses are less. Because they can control their emotions.

The more self-control they have in trading, the less losses they face. But most of the time, people buy and sell because of emotions. When someone buys or sells with emotions, they can buy or sell very easily. But if we consider buying and selling, a lot of time will pass but we will not be able to come to a decision. Because when people consider doing something, they start thinking so many complexes during the day, due to which every decision they make seems wrong. So sometimes it is good to work with emotions.

In the case of trading, the matter is much the same. Just control yourself and do not be excessively greedy, and make small trades. If you want to make big trades, a very small mistake can cause a lot of losses. Emotions are not a bad thing at all, if you keep your emotions under control and make the right decisions, success will come very easily.

[Odogwu-Blockchain]

In the case of trading, the matter is much the same. Just control yourself and do not be excessively greedy, and make small trades. If you want to make big trades, a very small mistake can cause a lot of losses. Emotions are not a bad thing at all, if you keep your emotions under control and make the right decisions, success will come very easily.

Controlling oneself is for those who are old in the game, it takes a consistent trader to control oneself to the point you won't noticed even when they make mistakes , those who had practice this consistently are meant to be successful in trading.

If you are new, be patient and be ready to loss a lot, accept it and move on to be good over time.

[Jewan420]

The biggest enemy of a trader is emotion and temptation. A trader who is able to deal with this enemy will not lose capital quickly. Even a trader must have patience. We all know that trading is very risky, losing money from trading is normal. If you cannot trade regularly with patience even after losing, then you will not gain anything from trading. You have to learn from every mistake with patience and try to control yourself. When you learn to control yourself, you will start getting positive results from trading.

[Ever-young]

The biggest enemy of a trader is emotion and temptation. A trader who is able to deal with this enemy will not lose capital quickly. Even a trader must have patience. We all know that trading is very risky, losing money from trading is normal. If you cannot trade regularly with patience even after losing, then you will not gain anything from trading. You have to learn from every mistake with patience and try to control yourself. When you learn to control yourself, you will start getting positive results from trading.

I’m not much of a trader but I’m a gambler, and even though some may argue that they’re different, they do share lots and lots of similarities, even if they may have differences, I know that whether gambling or trading, when a person lacks discipline and self control, it’ll be impossible to be successful in them. Sometimes in trading, people focus more on making profit but then forget about not making losses, yes losses are inevitable but there are some unintended and unnecessary losses that could be easily avoided.

[yhiaali3]

Personally, I have suffered many losses in trading due to impatience or greed. These are the basic emotions that any trader must control in order to succeed.

I often entered trades but lacked the patience to wait for the target to be reached, so I frequently ended up losing. I also chased coins that were experiencing significant price increases, but I suffered substantial losses as a result.
Now I have realized my mistakes and moved away from all of that and followed a medium- to long-term trading strategy for Bitcoin and top market currencies only.

[Zigabel]

> 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

> 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.

The above stated points are very vital and important to traders except you are a gambler then it may not be an essential to you but as a trader, you need to think beyond the usual, you need get some extra patience while you understand that you cannot always win, there are times you will loose and its normal, that is the probability way of thinking that will help you so much as a trader.

Understanding that the market will and does not always move in your expected direction and that cannot be controlled by you or your emotions and so the market does follow volatility and the cumulative reactions of the traders in the market, you have little to no control and you just have to accept and look for means and ways to always adapt and adjust to the market conditions when they come and not trying to force your emotions on the market and taking some really random decisions that eventually hurts your account even more. Make sure to have your emotions in check such that at every point you are not carried away by the moment, be it win or loss, you still stay stable and have your emotions always in check while sticking to your strategy and discipline.

[MarjorieZimmermanGinger]

Not only in trading, but in other professions as well, emotions should not be prioritized because that is an option that will lead to destruction for anyone. And for me, a trader who has become somewhat professional is not only shaped by experience, but also by their resilience to changing market conditions and the losses they have experienced. Because no matter how skilled a trader is, they will inevitably experience losses, even if only in certain moments or in amounts they can accept when they occur.

Emotions and greed often destroy people in carrying out any profession because this method can make us lose focus, especially in trading which involves excessive emotions. A lack of discipline can lead to greater losses. Experience builds as people begin to learn more seriously, gradually developing a clearer plan for their trading engagement. This way, they can achieve much better trading skills after trying to perfect every failure they experienced in previous trades. Achieving consistent trading may not be easy because we will face challenges related to losses and this is where the ability to remain consistent is needed.

[liasbaa]

The biggest enemy of a trader is emotion and temptation. A trader who is able to deal with this enemy will not lose capital quickly. Even a trader must have patience. We all know that trading is very risky, losing money from trading is normal. If you cannot trade regularly with patience even after losing, then you will not gain anything from trading. You have to learn from every mistake with patience and try to control yourself. When you learn to control yourself, you will start getting positive results from trading.

If you are trading a part of your hard-earned wealth in a place where there is no certainty, then you will not be able to control your emotions most of the time. If the fund size is large, it will create more emotions for you. Short term trading is a risky situation if you putted most of your assets at lump sum.
Allocate a limited amount of money for trading that you can afford to lose, as a result of which your emotions will decrease on this fund. Buy slowly and grow your portfolio. You should abandon the attitude of getting rich in the short term and move towards a sustainable investment because trading is like gambling which always makes you uncertain and greedy and leads you to lose money.

[ScamViruS]

Trading is a very difficult task to do without proper management, which increases the chances of making wrong decisions. It is important for a trader to develop the ability to properly manage and analyze the market properly. When a trader wants to start his trading journey, he must keep in mind that trading is a skill-based profession, it requires a lot of knowledge about trading, without proper knowledge of trading, a trader's trading journey will not last long.

Therefore, the right trading mindset, trading knowledge, skills, and money management ability can help a trader achieve good results through trading.

[Royal Cap]

Trade and gambling are two different activity but, both are risky and unpredictable kind of activity although with the right approach trade can be more suitable when a person understands the basic knowledge. Op already mentioned few and patience is one of the most valuable key to trade success, knowledge is also considered important as seen without knowledge there’s no successful trade yet nothing is guarantee reason why over confidence about the market movement or trade analysis can be disappointing when things don’t go as planned, trading pattern matters  especially when the market is not in your favour firstly the main focus must be the capital.

For me the difference between trading and gambling is not just in knowledge or strategy but in mindset. Many people start trading to learn but in the greed of quick profits, they turn it into gambling, Patience and knowledge are definitely needed, but I personally consider risk management to be the biggest skill. Because no matter how good your analysis is, there is no obligation that the market will follow your plan. For me, a successful trader is one who knows when to trade and when to sit back and do nothing.

[BRINIRHA]

> 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.

These three points are sometimes the most difficult for traders to master. Experience is needed to hone and develop expertise in these three points. Being consistent, able to adapt to every difference in market conditions, and focusing on long-term growth so as not to be greedy for large profits all at once. If these three things are truly applied, I believe we as traders can truly succeed in our trading. Unfortunately, I personally admit that I am sometimes still inconsistent. Sometimes, emotional control is another aspect that is difficult to master at all times. Because there are times when we cannot control our emotions in the market.

[Maslate]

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

In trading, there is no winning or losing, unless you are in a trading competition. What traders know are profits and losses.
Losses or gains cannot be guaranteed by traders, which is why I dislike the words from people in trading signal groups offering signals with words like guaranteed profit. They claim to have experts in analysis, but they still cannot avoid losses.

There are no guaranteed profits when trading, but if you have the right skills and strategies, and the right mindset, you will gain an edge and increase the chances of making profits. But losses are still part of it, since it will always be a part of a trader's success and profitable gains.

However, trading is highly risky that's why we often hear traders are losing than earning profits. But just because others are losing then you will also lose, or you will also fear to enter trading, the reason why trading is not for weak and emotional persons because they will surely stay losing till the end.

[gunhell16]

These are basic points that every trader should understand, and we have gone over it a million times or more in this forum, i guess it does not hurt to remind newbie traders about it anyway. It is newbie traders that are often the target of scam trading platforms that promise unrealistic gains, but because of the greed and lack of understanding of these traders, they fall for it.

That said, trading is risky, it is a fact, that's why one must take risk management as one of the most important aspects of trading. Once you've protected yourself from excess losses, you can go on to implement your strategy.

That's right, trading is like a 'sharpener,' and the individual traders who will study here will be the ones who will sharpen themselves to be sharp, because without a sharpener, it is useless,
you know what I mean. And to be sharp, this is the part that we will study first.

Now what are the main things that any newbies who will try to enter here should know? Of course this is knowledge, and it is really hard work; it is not just picked up.
Instead, it really takes time, dedication, and determination to achieve it.