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Trading Psychology

Trading

This is an excerpt form the Book “How to not get REKT trading Crypto” which you can purchase here and on Amazon and other stores.

If you want to succeed in crypto currency trading, the first step is to take a good long look in the mirror.

Some of the most common influences affecting the success or failure of traders are psychological. Trading psychology is a way to describe the emotional component of your decision to invest. Realizing that success may take more personal effort than simply researching the currency before you invest, may make the prospect seem a little daunting. But there is a way to wield the psychology in your favor and knowing just how impactful your emotions can be is the first step.

The psychology of trading in practice.

Now that you know, you can use psychology to have a positive impact on your trading choices in practice. Which unhelpful emotions are you likely to experience whilst investing? Fear is probably the most common. Fear can prevent us from taking risks, move us to sell too early or convince us we will fail in the first place. Seeing your investments appear to lose money will not be easy, it could cloud your judgment and make you doubt your overall strategy. Conversely the excitement and joy of a successful currency investment might make you reckless. It could fill you with a false sense of confidence that will lead to impulsive trading. There will always be good times and bad times, you should be prepared to quit when your ahead. Another potentially dangerous emotion is greed. You may think that greed is a necessity for any trader, with glamorous Hollywood movies about greedy market traders informing our collective consciousness. Try to exchange greed for focus, there is no doubt that money is a massive motivation, but an unchecked appetite may lead to a lack of discipline. Focus on the big picture and use money as a motivation as you implement your strategy. Here’s three simple points to remember:

•          Do not be motivated by fear

•          Do not be overcome by euphoria

•          Do not be motivated by greed

Now we have seen a few negative examples of how emotions can affect trading, what are the positives? If you want to succeed at anything you need to have belief. Believe in yourself and your abilities. This may seem cliché or simple but if applied wholeheartedly it will have a powerful effect. Build a passion for what you do and inject it into each day. Organize yourself with an effectively researched and comprehensive game plan and commit to it fully. Having identified a few dangerous emotions, the next step is to get control of your thinking process. This takes positive action and energy. Positive self-talk is key, for starters tell yourself that you can master the psychology of currency trading. Build on your own personal values and integrity, commit to these as your foundation, a springboard to launch you forward every day. Take breaks and lead a healthy life, feed your brain with healthy food and inspirational material. Strengthen your body with exercise and spend time with your family and friends. It is often underestimated how essential these basic practices are, they will keep your mind agile and focused. Here’s four simple points to remember:

•          Do wholeheartedly believe in yourself

•          Do positively organize your thinking process

•          Do keep a healthy lifestyle routine

•          Do commit fully with personal integrity

Finally, be prepared for losses, inevitably not all investments will pan out for the best and this may be especially true for crypto currency investment. When that happens you may feel overwhelmed, but if you have put into practice these tips you will be able to ride that disappointment out with ease. Every failure is an opportunity to learn and exercise our mind, to strengthen it and continue towards success. Trading psychology is incredibly relevant to reaching that success.

“Financial peace isn’t the acquisition of stuff. It’s learning to live on less than you make, so you can give money back and have money to invest. You can’t win until you do this.”

 Dave Ramsey

This is an excerpt form the Book “How to not get REKT trading Crypto” which you can purchase here and on Amazon and other stores.

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How to Not Get Rekt Trading Crypto

A brief introduction into cryptocurrency trading (eBook)

rekt

You can buy this book here at shrypto.com or at various stores like Amazon, Barnes&Noble, Rakuten kobo, Apple Books, SCRIBD, Tolino/Thalia or vivlio.

Crypto trading is a brave new frontier that is rapidly gaining momentum. Already thousands across the globe are making major money from this lucrative sector. The problem is it can be quite hard to get started. There’re many things in play when it comes to crypto. If you’re not properly set up for success, then you are putting yourself at a huge risk of losing money. This is why this guide was created. To guide you towards the best way of trading cryptocurrency without putting your finances at risk.

The book covers the following topics:

Crypto OpSec – A brief overview about security

Coin Altcoin Token – Explains the difference between a coin, token and altcoin

Fundamental Analysis – An introduction of fundamental asset analysis

Technical Analysis – An introduction of technical analysis

Exchanges – Covers the different styles of exchanges like DEX, CEX and broker

Kraken, UniSwap – some words about Kraken and other exchanges

Type of orders – An overview about the different type of orders, for example limit vs. market order

Reading Orderbook – What is an order-book and how do you read it

Leveragetrading – Introduction to leverage-trading

Moneymanagement – A guide about money-management

Different styles of trading – explains short-term vs. long-term strategies

Trading in a bearmarket – Chapter about shorting in a bearmarket

Trading Psychology – Most underrated topic in trading, the psych, this chapter features how to gain the right mindset

Resources and tools

Abbreviations

Because crypto is the next big thing in wealth growth. If you don’t jump on board now you may miss this opportunity forever. Now is a better time than ever to start investing. If you’re looking to get a leg up on your wealth growth then this is the book for you. You will finish this guide with a new found grasp on the subject of crypto trading and most importantly the skills you need to grow your wealth through trading. You will learn the best way to profit from these assets and how to develop the skills you need to become the next big trader.

Crypto trading is the future. Don’t get left behind. Join the movement today and find out why countless wealthy individuals use this skill to grow their wealth to soaring new heights!

You can buy this book here at shrypto.com or at various stores like Amazon, Barnes&Noble, Rakuten kobo, Apple Books, SCRIBD, Tolino/Thalia or vivlio.