Quote from: syamster on August 09, 2019, 09:18:41 PM

Quote from: Lanatsa on August 08, 2019, 09:11:37 PM

Quote from: South Park on August 08, 2019, 07:13:40 PM

Quote from: deisik on August 01, 2019, 04:34:27 PM

Quote from: South Park on August 01, 2019, 01:48:04 AM

That is called the recency bias and for a trader it is one of the worse biases we may have, one perfect example was the bubble of 2017, when the price reached the top and began to go down many traders instead of taking their profits thought the price will continue to climb and they began to buy even more coins, then when it finally became clear we were in a downtrend instead of selling they held because the previous high price was still too fresh in their minds and we know the horrible losses they suffered as a result of that bias

Trading is essentially a form of reality check for us all

We may form some ideas about future price action (mostly delusions even if correct) based on our prior beliefs which essentially have nothing to do with market and its laws. And what adds insult to injury here is that we actually feel being right about our decisions even if they were proven wrong time and again in the past. We just can't first understand and then internalize (i.e. make it an integral part of our belief system) this sad discrepancy because it is so strikingly against everything we have been internally hard-wired for and equipped with by Mother Nature

As I have gained more experience as a trader the more I understand that the biggest challenge is not to create a profitable system but my own psychology, those biases are there for a reason since they help us in other circumstances, for example if I were lost in the wilderness and suddenly a lion appeared then it will make sense to put all my attention to the lion, if I were to wonder about all of those instances in which I did not encounter a lion then it will be over, however the zero sum nature of the markets establish that the majority of the traders must lose and since they use those biases when they are trading then that means the traders that want to be successful need to go against their most basic tendencies and that is hard to do.

Everything that would give out advantage wont really be easily attained.It would take lots of time and experience before you would able to achieve such state.We have our own wills but lots of factors that does affect out mindset and mainly affecting our emotions thru our decisions.

Failing out with our own system doesn't mean that we aren't fit on this field and come to think lots of people do make their own strats to be efficient but still failed up.

Yes no thing is easy to achieve for any easy thing we can't expect something bigger. There will allot people who will try to discourage you but you only need to know your goal for investing and keep patience until the price reaches your hopes it is expected to see the price of the coins being higher than 10k $.

Just really be persistent and don't give up because if you do hop out mid way then theres no chance for you to improve.

Become calm most of the time is suggested but this will depend on the level of your experience with this very unpredictable market.
Set your goals,it might not be directly goes on your desired way but at least you are hoping for something.