Quote from: logicgate on November 13, 2019, 10:34:50 AM

Quote from: Tungsten-1 on November 11, 2019, 08:10:52 PM

Quote from: bohr on November 09, 2019, 08:21:41 PM

Quote from: cryptothreads on November 05, 2019, 01:38:21 AM

Everyone has different options but long-term investment seems safer than day trading. I have tried day trading in the past and the focus on charts makes it easy for me to panic and often sell if I lose more than 5% of my profit. I think day trading is hard work because you face daily risks and always focus a lot so just a small mistake will make you lose money.

Based on my psychology, long-term investment will be much better because there is no need to focus too much on price increases or decreases. It may take longer than expected but if there are high profits then I am willing to wait.

You are touching a very interesting topic, even if you have the skills to profit from day trading the psychology of the trader is more important because you do not have any time to really think about what you want to do or what you think about the market like you can do if you are a long term trader, you need to take decisions in seconds and if you show any doubt about what you are doing then most likely you will make mistakes and as we know that can be quite costly.

I think day trading is for those who have ability to take decisions within seconds without taking any kind of pressure of getting panicked. I am going to say that mentality which you called psychology acts as the fundamental principal in day trading. If the person is optimistic and having great patience along with as mentioned earlier great wisdom are the things required to make a day trader a successful trader.

There is no doubt that day trading demands all these things which are not easy to be present in one person at the same time. To adopt all these qualities and make them habit, the day trader is required to put significant efforts to mold his or her nature accordingly. But once he or she has acquired what is required, the person is not going to suffer from any major losses rather will make huge profits.

If a person is determined to do something, nothing can stop him. Nothing in this world is an easy task. In order to make big achievements, big sacrifices are supposed to be made. It also depends on the individual. If someone finds hard to day trade or gets afraid of it, he should go with other forms that will work fine according to his nature. Pushing oneself is not right, pushing oneself in the right direction is what needs to be done.