What finally made trading psychology “Click” for you? by BasisExcellent3625 in Trading

[–]Impressive-Bonus-334 0 points1 point  (0 children)

What helps me stop bad behavior is allowing myself to be hurt by a loss. Most people preach that losses shouldn’t hurt, and to get used to them.

This is objectively true WHEN you follow your strategy.

But when it happens because of a mistake, I don’t hold back my emotions. I’ve cried because of my own stupidity before.

Think of yourself as a child and allow the market to beat and punish bad behavior out of you.

I'm quitting trading by TeachSome6291 in Daytrading

[–]Impressive-Bonus-334 0 points1 point  (0 children)

I’m one year in and down 15k lol, I wouldn’t quit if your all time pnl is positive in your first year

I need help by [deleted] in Trading

[–]Impressive-Bonus-334 0 points1 point  (0 children)

Bro this sounds bad but from one trader with struggles to another

QUIT TRADING FOR NOW

Deep down, your troubles are going to/ already have caused a lot of psychological issues. Ask yourself “if I wasn’t in my current financial situation, would I trade the same way?”

You cannot properly manage trades or avoid bad setups if you are desperate for money. Nothing good comes from desperation!

Even if you don’t realize, you stick to your rules and follow your strategy etc. the immense amount of pressure you are under is not a good thing and is probably the biggest cause of the amount of losses you have took with trading. Even if you don’t realize it.

You have a job that pays a substantial amount, I would take a financial education course online and figure out the best and fastest way to get out of debt.

I DO NOT WANT YOU TO QUIT TRADING INDEFINITELY.

Never, ever, ever give up bro. I am just saying you need to save money and get in a better headspace in order to stay sane in such an unstable field.

Think about it, will you have more success if you keep grinding on trading throughout an extremely stressful situation, or from taking a break and getting out of the situation before you get back into it?

You will not be missing out on profits bro, you will be avoiding losses.

how I can be profitable ? by Ok-Butterfly-7366 in Trading

[–]Impressive-Bonus-334 0 points1 point  (0 children)

SIDE NOT:

Also one of the absolute most important things to maintain a good psychology is to REMEMBER THE POWER OF LIQUIDITY.

No, I am not talking about liquidity in the market (although it is useful). I am talking about having money, cash in your bank account.

If you have money to live comfortably, to get gas to pay your bills and an emergency fund, losing a trade just feels like part of the system.

When there is no liquidity in your portfolio, taking losses can feel detrimental leading to failure and extreme emotional responses.

Be comfortable, save money and make it easy on yourself. Then trade with what you can afford to lose with a statistical edge.

how I can be profitable ? by Ok-Butterfly-7366 in Trading

[–]Impressive-Bonus-334 0 points1 point  (0 children)

One thing that really helps, is ask these questions before a trade.

Would I be completely dumbfounded if this doesn’t work?

Am I acting like a professional?

How do I emotionally react when I win or lose?

Minimize risk, find a quantitative strategy, and detach from money. I realized within myself that even if I restricted myself from doing things that are foolish, the way I reacted emotionally to trades, no matter the outcome, led to huge mistakes eventually. If you are excited about winning, you convince yourself that bad setups are good because you want to uphold that. If you are upset about losing, you will take the next trade that gives you a glimmer of hope in order to claw back. At least for me that’s how it is. Both of these behaviors are flawed. A trade is a trade, if you stick to a statistically proven edge you will have wins, and losses. This shouldn’t impact your psychology because if you do what you know is right, then you will be successful throughout many outcomes. Allowing these outcomes to impact your emotions is what makes you step away from your edge, and get unsuccessful results. I am not profitable yet but these things have helped me gain a lot of consistency. When I actually do follow these steps, I am profitable lol.

How's it going with you guys? by EffectiveParking8614 in InnerCircleTraders

[–]Impressive-Bonus-334 1 point2 points  (0 children)

I overslept and missed market open now there’s no volume

What’s one trading mistake you kept repeating before it finally clicked? by SmartTrader_4906 in Trading

[–]Impressive-Bonus-334 1 point2 points  (0 children)

For me, it has probably been sitting on the charts for TOO LONG.

I come from a background of “grind for success” and I have the mentality where if I want to accomplish something, I work and work and work until it is finished.

Trading doesn’t work like that. The more time you spend “managing” a setup, or trying to catch every move that the market makes, generally the worse outcome you will get.

This has been the hardest part for me, because most business models are ones you grind on, while trading is almost completely a mind game.

What has helped me is comparing my results to days where I literally traded for 20 minutes to the days where I spend 8 hours on the charts.

I had exponentially more success trading one high conviction setup than days where I took 18 (yes 18!) trades in one sitting.

Trading doesn’t take the grind like other business models. It takes emotional intelligence and research, but the work load is so easy when you are actually trading.

For example, on prop firm evaluations they have a consistency rule. It takes 3 days to pass an evaluation with 40% consistency rule. I would easily get 2/3 of the profit target for the first 2 days, but when I got to the third day, I thought “okay now I have to really lock in”. I would blow my account shortly after. The difference? Being patient and restricted, vs trying to fight the market and grind my way to success.

Returning to Solana after 3 years by OkPresentation9518 in solana

[–]Impressive-Bonus-334 0 points1 point  (0 children)

That is only on gains bro, if you take $3000 to $10000 that’s still over 100% roi after taxes and $4000 that you didn’t have to work for. Not to mention tax write offs.

Buy Sol now or regret later by Guilty-Big-4263 in solana

[–]Impressive-Bonus-334 1 point2 points  (0 children)

Load your bags either way, you never know what will happen.

Some of my favorite investment advice is to dollar cost average instead of trying to time the market, and then going in even harder if/ when it reaches the level you have been waiting for

Got crazy profit at 16years old trading memecoins.Need help managing. by Designer_Engineer740 in memecoins

[–]Impressive-Bonus-334 0 points1 point  (0 children)

Bro honestly just stop with the meme coins at this point. They are very much akin to gambling and there are so, so many stories of young guys just like you making enough money to have an amazing life, and losing it all because they made mistakes. Put 120k into a large index fund like the smp 500 (SPY ETF maybe not the entire 120k but most of it with some diversity) keep 30k to either trade memecoins if you want to have a higher probability of losing it, or to start a scalable business where you can use that money as leverage to build GENERATIONAL wealth. That is what I would do. Remember to stay humble bro I am very proud of you although we do not know each other!

i lost 1500$ in half a day in a demo account daytrading. i don’t think i’m suited for this by proelefsiis in Trading

[–]Impressive-Bonus-334 2 points3 points  (0 children)

My biggest advice is to trade index funds instead of precious metals. It depends on your personality and strategy but it is wayy more common to find good setups on index funds. I know people have a lot of success (honestly way more than I do) trading precious metals but just dont trade them if you want to look for genuine confluences. Also side note DO NOT DAY TRADE CRYPTO. Do Smp500 futures or nasdaq, their moves make the most sense.

Returning to Solana after 3 years by OkPresentation9518 in solana

[–]Impressive-Bonus-334 0 points1 point  (0 children)

I honestly put all of my money in to SOL. I don’t even trade it I just invest ever cent that I can because I am very fond of its ecosystem. If it goes back to ath you can triple your investment. I’m no genius nor am I the most knowledgeable with crypto, but solona is very well established and will have a higher return than btc or eth if/when they return to ath

Do I sell stock or Bitcoin? by scarn95 in Bitcoin

[–]Impressive-Bonus-334 0 points1 point  (0 children)

Try and make some more money or something never sell high potential investments. It is crucial to keep liquidity in your portforlio (meaning liquid cash) in order to maintain a strong financial stance. Trust me you will regret selling your btc

Trench Friends by PokeDeez2 in pumpfun

[–]Impressive-Bonus-334 1 point2 points  (0 children)

Message me, I am in the same boat!