Quote from: Dewi Aries on December 17, 2024, 10:35:14 AM

Quote from: Wakate on December 16, 2024, 06:38:48 PM

Peace of mind is very important and can help us become a better trader if we don't take money from people to trade in the market. I have seen friends entering into debts because they are too confident about the market and their strategies, going far as getting money from families and clients, trading for them why getting their cuts. We ought to learn the habit of gambling with our own funds so if anything happens along the way, we can bear the loses without having to be panicking about paying clients money. Experienced traders are attest to this which has ruined the lives of many traders because they believe they can trade with confidence making profits from the market.

One of the reasons why peace of mind is very important for a trader to have is because trading is a decision-making activity where a calm mind can prevent you from feeling doubtful when you want to open a trade, on the other hand, I think feeling confident is a good ability that a trader must have, but that's also if for example you trade using a strategy or skill and not acting carelessly, the benefit is so that we don't miss the right moment when we should have opened a trading position.

Trade with the amount of money we can afford to lose? of course, because basically trading is still a risky activity where when you can't accept losses, there is a possibility for you to lose more money due to chasing previous losses, and actually trading with an amount that is ready to be lost is also one of the best plans that will help us to be calmer when trading.
The point is, if for example you do trade by relying on a strategy that you think is good, then there should be no doubt for you to open a trade, especially when you find the right moment, and if for example in the end you lose, then that's a natural thing.

Panicking will never ever be doing no good not only just on trading or investing but also in other things in lide on which you would really be needing up to have that clear mind for you to be able to make yourself to make good decisions and not something that in result when you are on boggled or hesitance due to some reasons. Nothing beats out if you do have that clear mind on which you can be able to think up well and act accordingly into the things that you've been dealing with. Actually this kind of thing should really be standard because investing isnt something that will be a smooth sail ride or giving out that guarantee that you can make money.

In making strategies then it will really be that a trial and error because we are the ones who will really be finding out on which strategies will be giving out some positive results but of course not an assured thing because there's no strategy that works everytime and thats why we do make out adjustments accordingly basing up into the market condition on which this will really be testing out our knowledge and skills accordingly. There are really just that those people who are really that rushing up too much and becomes greedy and thats why they do really end up on having some issues or mistakes later on.