Trading with the right mindset

[mirakal]

However, despite of those you've listed, losses are still inevitable. Simply because we are trading in a highly volatile market that even pros in trading still commit mistakes and eventually lose their trades.

But if you take time to develop all these traits from your trading mistakes and losses in the past, you will gain an edge in trading and you will increase your trading potentials and make positive trades. The process will definitely take time so you need to be patient throughout your trading journey because it will surely pay off in the end.

[HustleZ]

[..]

No matter ho much a person's Mindset is right in trading he is going to lose and there are solid statistics of it, almost 99% of traders blow their account in first 6 months of trading. The thing that is wrong with people is they think they will be in the 1% but that's not the case. You think yourself, out of the 99% people atleast 4-5% would have followed what you say but still they didn't succeed because trading is just pure luck, traders just feed the big institutions by losing continuously. The only safe thing is investing, (DCA). Here there is no liquidations no manipulations and no losses. Bitcoin is Aimed to reach great heights and knowing this, There is nothing to lose in DCA.

[Agbe]

It takes mental focus and discipline to trade i didn't know that some people are spiked up by adrenaline, I thought this was something that affects only gamblers. But here's the thing you need to know, you can do everything right and still end up incurring losses, the market does not have a linear path to succeeding. To reduce losses you must learn from your mistakes and also follow the principle of risk management.

[GiftedMAN]

It takes mental focus and discipline to trade i didn't know that some people are spiked up by adrenaline, I thought this was something that affects only gamblers. But here's the thing you need to know, you can do everything right and still end up incurring losses, the market does not have a linear path to succeeding. To reduce losses you must learn from your mistakes and also follow the principle of risk management.

Discipline, patience and determination is the key to a successful trading, and its important for every trader to always exercise or make it a habit, which will help them to maintain that focus and also do research in any area they don't understand, and trade with amount the amount they can afford, and should also know that they can't get instant profit, because the earlier they know this, the better for them and most important they should not neglect the rules and regulations of trading.

[Webetcoins]

If you are calm and strategic then you are going to be at the right mindset, it is not easy but it can be done and a lot of people do it. Unfortunately it is not an easy task but it can be done if you just learn to do it with time.

A newbie will have harder time doing this because emotions will play a big role, but a veteran will be able to do this because it is going to be easier with experience and doing it over and over again. Be patient and with time you are going to become a better trader.

[I_Anime]

If you are calm and strategic then you are going to be at the right mindset, it is not easy but it can be done and a lot of people do it. Unfortunately it is not an easy task but it can be done if you just learn to do it with time.

A newbie will have harder time doing this because emotions will play a big role, but a veteran will be able to do this because it is going to be easier with experience and doing it over and over again. Be patient and with time you are going to become a better trader.

Yeah…trading not all about strategy alone is more one being discipline and stuff . And many lacks such in their trading routine . That’s why many literally finding it hard to become profitable trading , because most folk mind are fixed in the profit alone they don’t want to go through the journey , they just want to make the money real quick .

I was once like that though, but with time I began to see how’s messing up my trading plans . But still I will say still a work in progress, cause I don’t want to gamble with my hard earn funds , that’s why I urge others to take their time and learn first , before going into trading .

[Mame89]

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.

I agree with you. Developing the right mindset for trading is crucial, as it prevents trading from becoming like gambling. With the right mindset for trading, you'll focus on discipline, risk management and objectivity, rather than trading for quick profits. With the right mindset you'll accept losses as part of trading, and you'll use these losses as learning experiences and evaluation materials to improve your trading skills in the future. The key to having the right mindset is controlling your fear and greed and having a desire to continuously learn.

You must also have this mindset Trading is a lonely, personal adventure. No one cares if you succeed and no one will help you if you fail. You're the only one competing against yourself, so changing your mindset about trading is a key step towards becoming a successful trader.

[Cyber_warrior]

If you are calm and strategic then you are going to be at the right mindset, it is not easy but it can be done and a lot of people do it. Unfortunately it is not an easy task but it can be done if you just learn to do it with time.

A newbie will have harder time doing this because emotions will play a big role, but a veteran will be able to do this because it is going to be easier with experience and doing it over and over again. Be patient and with time you are going to become a better trader.

It's not easy for even veterans as well it's just an individual difference doesn't matter how experienced you are, even newbies can as well train their minds to be disciplined. Trading really requires a lot of time and patience but that is something newbies lack that's just the difference they are having with experienced traders.

If you can be patient you will definitely get the best of it even though profit is not certain you will not lose too much money while trading. Also having the patience to learn about trading properly is what newbies should on more because it is the background of their success in trading.

[Ziskinberg]

The common reason why most traders end up losing is that, they trade insufficiently, they trade lacking those right mindset crucial for trading. They think trading is like as easy as plain investing, but when the market turns unstable and bitcoin price starts to go sideways, those who trade without proper mindset will eventually fall for wrong decisions.

This is the biggest challenge with trading, you need to trade having the right mindset. It may not be an abrupt transformation, but every trader is required to gain the right mindset to increase winning potentials in trading.

[Versatile_choice]

If you are calm and strategic then you are going to be at the right mindset, it is not easy but it can be done and a lot of people do it. Unfortunately it is not an easy task but it can be done if you just learn to do it with time.

A newbie will have harder time doing this because emotions will play a big role, but a veteran will be able to do this because it is going to be easier with experience and doing it over and over again. Be patient and with time you are going to become a better trader.

Definitely, its hard and difficult to succeed in trading but having the right mindset will support you in achieving your goals, that is to said that it all begins with the mind, if you have the mind to invest in trading, which you have to do everything to make sure you succeed, because a better and profitable trader make every necessary move, which includes patience, learning and ask questions in any area you don't understand, this will make you to increase your chances of getting profit but remember trading is not something that brings quick money but if you want to make money from trading, then you should know that entering or becoming part of trade is a very difficult task that needs patience and discipline to scale through it.

[Oshio-man]

I don't see any reason why you will not going to make income from your trading when you have the knowledge of trading,   you will not be the one leading yourself to the right market when to trade but the knowledge you acquire from trading it will be the one to make you make a decision that will make you to earn a good income that will encourage you to increase your capital, those that go with mindset of making billions a day  from trading may be the ones that will regret from trading because It will be difficult for such traders to continue earning the same amount from trading long time, you can set your income to be daily or monthly from bitcoin trading but know that you will not be expecting huge income from your trading compare to those that will hold and start watching the market price to increase higher before they can trade to make a good income.

[Yorubek]

I don't see any reason why you will not going to make income from your trading when you have the knowledge of trading,   you will not be the one leading yourself to the right market when to trade but the knowledge you acquire from trading it will be the one to make you make a decision that will make you to earn a good income that will encourage you to increase your capital, those that go with mindset of making billions a day  from trading may be the ones that will regret from trading because It will be difficult for such traders to continue earning the same amount from trading long time, you can set your income to be daily or monthly from bitcoin trading but know that you will not be expecting huge income from your trading compare to those that will hold and start watching the market price to increase higher before they can trade to make a good income.

I think that getting success through trading is not an easy way, but if you have the right knowledge and are able to understand the market movements and enter the market at the right time with patience and are able to handle excessive greed and exit the market with a smile, then you can make money through trading. If you choose trading without understanding anything and just sit in greed to get rich quickly, then you will face loss of all your money, as we can see from the outside, in reality it is relatively difficult to achieve success through trading, most new investors choose trading in the hope of making quick money, so they lose their money quickly. Trading is profitable, but in reality it is not as easy as new traders think.

[bangjoe]

I always see in traders that they have too many expectations on their trading especially beginners and small traders, they have good basics for example but they have a management mindset that can change after the execution of the trade when making money from trading, for example having a capital of $500, and he uses 10% for his trading which means $50, from that $50 managed to get a profit of $30 this is already very extraordinarily good in the projection of someone trading with discipline and direction,, but most traders because they feel that getting $30 is very easy and only a few time, he starts to change his plan with ambitions that are not measured by risk and mental readiness, the target starts to grow as well as the risk also becomes very large when what is traded has a large load, and one mistake will eliminate capital and also the profits made before, the growth of the target is not accompanied by the rationality of the ability to make projections of trading plans that are accompanied by readiness to accept risk.

It is a form of self-arrogance and overconfidence, as well as greed and indiscipline in trading strategies that make most people fail, mindset is very important to maintain, this is more difficult than memorizing the features on your screen.

[summonerrk]

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.

Cool list.

Here's mine: Relevant for the current phase of the market.
10 important rules.
1. Do not trade if you are not in the resource. If you are tired, it is better to postpone this matter.
2. Do not increase the volume of positions after a loss. It's better to rethink the strategy.
3. Don't enter into a deal without an exit plan. It's a one-way ticket to a sad ending.
4. Position management is more important than the entry point.
5. Maximum 5% on high risk.
6. Carefully check the accuracy of the information. trust only good sources.
7. Don't give in to FUD AND FOMO.
8. If the setup didn't go according to plan, shorten the position.
9. Reasonable diversification. No more than 20 assets in the portfolio.
10. Don't confuse beliefs and ego.

[Leahized]

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.

I believe there are many similarities between gambling and trading. But there are two types of trading 1. Spot trade 2. Future trade. Now can you tell which one you want to reconcile with? I think there is a lot of similarity with future trade but not at all with spot trade. By using leverage in futures trades it is possible to get multiples of money. In the same way it is possible to get many qualities in gambling. I'm usually very focused on spot because picking good coins here is never a loss. Because my plan will not be only in trade, Even the focus will shift towards investment.

[Outhue]

Even if all the right mindset and strategy is present you will still lose money in trading because it's more like you gambling your money in a casino, if I have to advice someone about trading it will be on spot trading, no futures no margin, even pro traders do lose money too, I have watched live trading on YouTube from different traders who claimed that they are pro but things went wrong for them. Crypto market is more like predicting the future, just be ready to higher lose a lot of lose small amount of money, the choice is yours to make.

[liasbaa]

Even if all the right mindset and strategy is present you will still lose money in trading because it's more like you gambling your money in a casino, if I have to advice someone about trading it will be on spot trading, no futures no margin, even pro traders do lose money too, I have watched live trading on YouTube from different traders who claimed that they are pro but things went wrong for them. Crypto market is more like predicting the future, just be ready to higher lose a lot of lose small amount of money, the choice is yours to make.

Your every word is very clear and very helpful for me. Trading is like a game of gambling. Those who understand this very early can reduce the amount of losses to a great extent. Many people around you will tempt you to mislead you but no matter what trading strategy you are in, you have to be prepared to lose money. If someone says they can predict the crypto market, you have to assume that they are hiding the truth. They will give you wrong advice to make you lose money and wrong decision because they too have learned by doing wrong.

[nara1892]

Even if all the right mindset and strategy is present you will still lose money in trading because it's more like you gambling your money in a casino, if I have to advice someone about trading it will be on spot trading, no futures no margin, even pro traders do lose money too, I have watched live trading on YouTube from different traders who claimed that they are pro but things went wrong for them. Crypto market is more like predicting the future, just be ready to higher lose a lot of lose small amount of money, the choice is yours to make.

I agree but in the way it works trading is different from gambling, just because both are risky activities I don't think we can immediately conclude that trading is the same as gambling, but on the other hand I also agree with you that it is better to trade in the spot market especially for beginners who are usually still very arrogant, trading makes a person lose more or go bankrupt when they treat it the wrong way without any knowledge.

[Furball808]

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.

There definitely is some misconception about trading and how it works. People think that because it’s speculative, there’s no any valid analysis as to how we ended up in that specific prediction. This leads people to think that it’s easy to just “guess” whether the market will go up or down.

[pawanjain]

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.

Those are some good points you have mentioned and yes, we should have the right mindset if we want to make good returns in the long term.
It has taken years of trading and good amount of losses for me to learn and realize these points.
The thing is, when we start making profits we get overconfident and try to trade every setup.
Little do we do know that not all setups are meant to be taken for trades. Overtrading kills our profits.
As you mentioned, we should only trade at high quality setups and avoid overtrading.