Trading Tips #1 | Emotions and Psychology

in hive-175254 •  4 years ago 

La_pandemia_ha_acelerado_la_adopcion_de_las_criptomonedas_y_la_Blockchain_a_nivel_global_3.png

image created in Canva

Trading is a profession that requires constant training and learning in many aspects. These branches that we need to learn in order to be successful are

  • The technical type
  • Of the fundamental type
  • The psychological
  • Emotional

Although it sounds very simple, the truth is that this profession requires our effort and dedication, of course almost any other branch of study, however, this must be practiced and be constant to reach the much desired profitability. Knowing all this, most people believe that entering into trading only needs to be an expert in technical or fundamental analysis and the reality is that when we enter the market, we put much more than money, we forget the great emotional and psychological burden involved in taking positions either by buying or selling an asset.

For this reason, we will be bringing you this section of trading tips, where we will cover essential aspects that, as investors or speculators, we need in order to correctly manage our risk and our positions in the market, all so that you can have at least the necessary learning for this task.

In this opportunity we bring you 7 very important trading tips to take into account:

Image of Pixabay

Peace of mind
Don't enter the market looking at what to buy or what to sell, have a clear idea of which instruments you want to trade. Don't trade on instinct but with the possibilities already clear and established.


Image of Pixabay

Patience
When entering your trades, define both take profit and take loss prices. And be patient, if you trust your analysis and no news has occurred that modifies it, trust your decisions and be patient until you reach the defined objectives.


Image of Pixabay

Step by step
There won't always be 100 USD profit trades in a single entry, it's better to make small trades, many times adding up to 100 USD in a certain period of time. That way you can slowly, sensibly and thoughtfully avoid taking so many risks.


Image of Pixabay

Choosing a small group of financial instruments
Focus on a small group of instruments that allows you to become familiar with them. Both on a technical level and from the news that moves these assets. The one that covers little, presses more.


Image of Pixabay

Information
It's good to be able to listen to other traders' opinions, especially if they are more experienced than you, listen to their views and opinions about the markets, but with skepticism. Finally make your own decisions, based on your own analysis, always keeping a high degree of critical spirit.

Image of Pixabay

Training
Someone once told me: To learn how to invest, you always spend money! Either because you pay for a course to learn and/or because you don't pay for it and want it for free, but you lose your money until you have really learned! There are a few exceptions to this statement, but it is the norm. The first thing you should invest in is training, that way you can save some losses at the beginning.


Descanso.jpg

Image of Pixabay

Rest
Do not stay 100% of the time in the markets, it is necessary to rest, because the breaks are also important. Whether you've made a profit of 1000 USD or 10 USD, it's advisable for the trader to go out of the market for a while, every chance he gets. The chances of losing increase more when your money is in than when it is out of the market.


At the moment we have reached the end of this publication, I hope that this section of trading tips will help you to be a better trader and that you can train as a trader in the short, medium and long term. We would like to read the community to know if they liked this section and it was helpful. We will gladly listen to all your comments.


Consider joining our community on Discord

Instagram
Twitter
Telegram






image.png

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Although trading is a profession that is fantasized in people's mind, it is not that easy. It requires a lot of effort and most importantly, requires something that, jobs where you are a employee (have a boss), don´t. You Have To Be Disciplined, you are your only enemy, everybody can learn the thecniques, but the hard part is to follow a strict trading plan and most importantly stick to it when you are on a down swing.

Greetings dear @diogodantos, I apologize for responding late to your comment.

Very valuable and true your comment, trading in concept is very easy, but the difficult thing is to keep it and execute it in a certain way, however, by depending on yourself it makes it great since there is no one else involved in which you may or may not succeed.

All you need is consistency and discipline, plus back-testing all your strategies more as you said you will stick to them no matter what the trading plan is.

Better late than never!! :D

We are used to have a start and a end in all our daily actions, but in the markets there is no end... its a forever going price action that only the disciplined can take advantage of.

Trading is like addition of patience and subtraction of emotions. A very useful post full of tips as usual @erarium

Greetings friend, sorry I'm late in responding @rishabh99946

You're also absolutely right. Thank you very much for commenting

@tipu curate

Upvoted 👌 (Mana: 0/9 - need recharge?)