Post
Topic
Board Trading Discussion
Re: Always take profit
by
tygeade
on 21/12/2021, 17:50:48 UTC
It is good hear but do note that you should not let small profits from a trades act like small doses of dopamine which make you addicted to it. Rather use it as a source of motivation for bigger profits.

Bad days will happen and in trading these are opportunities to introspect into possible mistakes and chances to rethink your strategy. While losses do have a mental trauma, you can stick to the positive side and learn from them.

For beginners paper trading should be the first thing to start with. You should not jump into the real market right away. Do it on paper, check how much profit you made of how effective your prediction was.
Unfortunately not many people can see the benefits whenever the price drops. I get that there are a lot of people who do not understand why the price drops and focus on that part most of the time but the reality is that we are talking about something that is profitable in the long term so why it happened doesn't really matter to be fair.

So, if you focus on why it dropped or how it could recover or will it continue to drop and many other things like that, then you are going to end up losing a lot of money. What you should focus on is how you could make a profit from this down trend and if you could buy some more and wait as long as you have to, then you are going to profit. This is emotionally not that easy, watching your money drop like crazy is a very hard thing for many people and that means we need to realize it is going to be very difficult to watch but it will worth it in the end.