Quote from: Floxynice on Today at 04:19:07 PM

Do not think that traders are not aware of these, but the thoughts of the potential profits to be gains from going ahead with such trade tends to becloud their sense of reasoning. Even before they lose their money (that is if they become unfortunate), you see them restless and constantly monitoring their trades. Even if they forget to ask themselves these questions, that restlessness they feel whenever they open a position is a clear sign that they will never be alright if anything bad happens to their money.

That bring us back to the analysis that a successful traders/trade is base on 30% of the knowledge or strategy and then the other 70% is base on psychology. Most trades actually do reason this as you have pointed out then go ahead to trade due to FOMO. One thing I always say to traders is that before you consider the amount you’re going to make sure you have actually considered what you’re going to lose also. A strategy might look nearly perfect but a turn of events can change the market sentiment most especially if you’re trading altcoin.

You will some people open a position and be restless throughout the trade and this is one bad way of trading because it shows you lack confidence on the trade, one easy way to actually be confident on a trade and avoid all this usual checking of the market is to have a very good stop loss which is usually at a price where you can afford to lose to the market.

My advice is that before going in all in a market consider it can go wrong and you will lose, losing some amount is better than getting liquidated in one trade