Quote from: Dr.Bitcoin_Strange on Today at 05:55:32 PM

Quote from: Fiatless on August 20, 2024, 05:18:20 PM

Quote from: Dr.Bitcoin_Strange on August 19, 2024, 09:58:36 AM

As a trader, it's wise to know that the crypto market is very dynamic; even if you feel you have the right winning strategy to profit from the market trend, the price can still go against your prediction. That's why a trader must be ready to accept whatever result they get and also plan not to venture into revengeful trading habits because it can cause more losses. It's better to enter a position if the signal is very strong rather than enter a risky position that is not yet very certain.

Revenging the market is like chasing losses in gambling. When you feel that you have devised a strategy that you will adopt to regain your losses, you might end up losing more. The best approach is to always maintain your risk level and budget even if you have experienced some losses before. A boxer who goes into the ring, because he wants to revenge his past defeat, might make costly mistakes because he is not psychologically balanced. I prefer to take a long break after successive losses than to embark on the dangerous pursuit of revenging the market.

That's right, I think every trader should be able accept their losses and know when to stop if the market is not favorable. That's what makes a professional traders more successful, they are able to understand that the market is dynamic and because of that, they can not have successful trade all the time and they equally apply risk management by activating the stop lose and take profit features.

Make yourself that prepared and make yourself having that kind of acceptance when it comes to various things specially when talking about losing trades. We should really be putting up into our minds that its never been that a guaranteed thing that you would really be making positive outcomes or results on the moment or time that you would be making up trades. This is why it would really be that important on which on the moment that you would really be finding yourself having those kind of positivity then better stop and quit it. You would be ending up on great disappointment on the time that the market would really be slapping up your face and knows about on the real things that you would really be able to encounter ahead. It would really be that important that you should really that know on what you should gonna do and its really that important.

Revenge trading would really be just that similarly talks about