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EMOTIONAL TRADING AND HOW TO STOP IT p2 EMOTIONAL TRADING AND HOW TO STOP IT This post goes as a continuation of the previous one, so if you haven't read it, I highly recommend it (link in pinned post)! The emotional trader sometimes has losses, that can costing him much more than just losing money. Having been upset, because of a particular losing trade, such a trader fall into emotions and tries to return everything, that he lost. He is ready to ignore the rules of his trading system and money management for this, eventually losing more and more. When such a trader has several profitable trades in a row, he is also unable to stop and tries to maximize the success achieved. Trying to extend the winning streak as long as possible, he begins to open trades, that he would otherwise avoid, and in the end everything ends by losing money again. This familiar trading problem is usually quite expensive and costs for a trader - time, money and self-esteem. If a trader wants to break out of this vicious circle, then he will need to deal with his feelings, thoughts or actions. Find and change the negative psychological attitude that leads to the appropriate behavior. A good starting point is to ask yourself: Why am I trading this way? Answering this question in writing (which is desirable), listing your thoughts, beliefs and assumptions, you can come across something like this list of answers: ❗️ “If I don’t end every day with a profit, then I'm a failed trader. I can’t afford losses and close the day in the red” ❗️ "If I don't fight the market to get my money back, that will mean I've given up" ❗️ “I just need to work on more deals and I will succeed” ❗️ “When I trade profitably, luck is on my side. But everything can change at any moment. So I need to make the most of the situation and open as many trades as possible while I’m lucky.” ❗️ "The market wants to ruin me" In some ways, we all remain "Pavlov's dogs" - the more and more often we repeat a certain behavior model, the better it's remembered, eventually reaching almost complete automatism. That's just a very rough list, but even looking at it, it's easy to understand how these or similar thoughts can shape certain trading behaviors. Since such a trader feels like a loser until he gets his money back, he will do everything to regain the feeling of a winner. At the same time, thanks of negative experience, such a trader doesn't believe that his trading will be consistently profitable in the long term, and therefore tries to “snatch” as much as possible from the market, which leads to even greater losses. By reflecting on and changing each of these negative beliefs, a trader will be able to understand how irrational they are. Then he can replace these psychological attitudes with more positive ones: 💙 “I don’t have to end every day on a positive note. It is more important for me to maintain a positive balance in the long term. 💛 “Admitting a loss on a particular trade is not the same as admitting defeat. Instead of trying to immediately recover losses, I will analyze my trading and find out why I took a loss. This way I can prevent this situation from happening again in the future.” 💙 “Increasing the number of deals is not the key to winning. It is much more productive to improve their quality.” “When I am trading well, it is because I am in better shape. Luck and luck play a certain role in my life, but do not determine it. As I succeed in trading, I am grateful to myself for this, and I will continue to try to make smart trading decisions in the future.” 💛 “The market does not want to kill me. He is neutral and completely indifferent to me personally and to my trading results. He has no consciousness and is not able to think independently. And he does not try to punish me at all or deliberately harm me.” If the trader in the example looks at this list every day, it will help him stabilize his emotions and make smarter trading decisions. On the one hand, these attitudes do not provoke intense and emotional trading, and on the other hand, they do not lead to the development of laziness and apathy. Have you tried to write Your thoughts?🧐 If not, try it,(it works good) If yes, please share your experience in the comments. Stay with me, subscribe, for not get lost. I will be glad to see your activity by clicking 👍 like button and writing comments!♥️ Always Sincerely Yours Rocket Bomb 🚀💣
BITSTAMP:BTCUSDEducation
by RocketBomb
2
5 Steps to Success: Serial Winner!💪Hey! Who wanna get a portion of motivation?🧐 I recently read a book "5 Steps to Success: Serial Winner" - by Larry Weidel. 💪 This book served me as a great kick'n ass! You know... sometimes a huge pile of difficulties falls on your head, when usual daily routine becomes unbearable - there are two options - give in and continue suffering or STRUGGLE! The choice is yours, but I prefer to fight!🤜🏼 I'll briefly share the conclusions, that I made after reading this book, I'll be glad if it will become a drop of motivation for someone! 📌 Don't doubt - decide Any victories are preceded by decisions. On the way, we always encounter with the main enemies of our aspirations - hesitation, detailing and excuses. Therefore, in order to decide on your fateful decision, you need: a) do not rely on myths about the advantages of real winners and understand that " advantage is not a guarantee of victory. ”; b) create a plan sufficient to start working on achieving the goal and stop striving for the PERFECT plan, because this simply doesn't exist; c) determine the starting point of your movement, following your natural interest - to finally understand your true motives and desires and give yourself a chance to try. 📌Don't just do - overfulfill Just doing a thing is not enough. In the beginning, we always set too low expectations regarding the energy and resources that need to be invested in achieving a new goal. Of course, we cannot look into the future. However, it's underestimation often leads to defeat The best way to prevent that is to overdo it or overfulfill. Put in extra effort - beyond what was planned - and work more than you think you need to. Not looking for easy ways, but giving everything that you have to a new undertaking. That's the only way to avoid the trap of underestimation and not fail at the beginning of the journey. 📌Don't quit - adjust Difficulties on the way to victory are inevitable. There are two options: quit business and forget your dreams, or meet defeat with dignity this time and do everything possible to win in the future. Any effort has a cumulative effect. Only with time can you see the results of your work - it will be a shame to give up everything before the first signs of success. (That's not a desperate struggle for the impossible.) Victory is a matter carried through to the end. Don't quit your deal, just adjust your unproductive goals. It's even possible to change direction. The main thing is never give up hard work and progressive work. 📌 Don't just start - follow through When you come close to the finish line, various obstacles may arise. But winning is not about preparing, making adjustments, or talking about previous successes. !!!!! Victory is a completely completed business. No matter how insurmountable these obstacles may seem, it's necessary to reach the victorious end. Leaving the goal, almost reaching the top, means losing all the resources that have already been invested along the way, and ruining your reputation due to the loss of trust of others. And don't be surprised, that the last steps on the path require a little more resilience, they are really hard. “98% of what has been done is not done yet. Only the winners overcome the last 2%, ”! 📌Don't calm down - constantly improve After receiving the first victories, it seems to someone, that they can already rest. They reduce the rate of their acceleration and development. However, winning is not a one-time action, but a constant movement. Serial winners recognize how much more can be achieved and are committed to it. They are constantly improving. The best time for it - the moment of "exit" from another victory. That's the perfect time to reflect on mistakes and start working on your weaknesses, try to master a new field and succeed in it, or to learn from even more successful ones. Serial winners get a taste of life in the question "what's next?" That's what distinguishes them from everyone else. WHO ARE YOU???? ARE YOU A SIREAL WINNER?or JUST WANNA BECOME? Share with me in the comments♥️ Thanks for Your attention🙏🏻 Stay in touch🧡 Sincerely yours Rocket Bomb🚀💣 Some of my last similar posts👇
BITSTAMP:BTCUSDEducation
by RocketBomb
3
Trading vs USD or vs BTC? Read Rocket Bomb 🚀💣thoughts 🔥Hello, my dear friends!♥️ THIS POST IS INFORMATIVE AND EDUCATIONAL ONLY! That's not a trading idea!🙅‍♀️ I created this post especially for beginners, who are interested in understanding altcoins trading! It's suitable on bullish market 🔥 Let's take a look at chart, I have prepared for You.👇 Many people ask why I often trade with Bitcoin? I decided to prepare an answer on the chart for you by analyzing one of my last trades! ATTENTION !! THAT'S ONLY MY EXPERIENCE AND IT CONCERNS MY STRATEGY , which I'm happy to share with you by my work here♥️ In October I bought Hive vs Bitcoin (and advised everyone), then Bitcoin was $ 19,500. Unfortunately Hive continued falling and knocked out a conditional Stop Loss, which I decided not to use and continue holding it. Frankly, it was long time and many times I wanted to sell at a loss!🤪 Only the growth of bitcoin helped me not to see a strong minus for this position! In February, I saw a breakeven position for first time, but in dollars the position more than doubled due to the bitcoin rate. And now, in March, my chart has been fully worked out! And the position is closed at + 70% and the Bitcoin rate has grown x 2.3 times! And in dollars this position rise up to 423%.Take a look 👇 I'm very pleased to share my experience with you, I sincerely wanna be useful to you, because my work here not only charting, that's my soul, my experience, my contribution to each of You! I really wanna be important and useful to YOU!♥️ YOU NEED ALWAYS START FROM LEARNING! So, let's develop together ♥️ Stay tuned by Rocket Bomb 🚀💣
Education
by RocketBomb
11
Have You ever dreamed to become a popular trader?😊Hello, Have You ever wanted to become a popular trader? Have you ever wanted to become famous like Jesse Livermore or, say, Larry Williams? Or do you think that success loves silence? Scientists have calculated that, to one degree or another, 70% of people dream of fame (at least sometimes). That's, by the way, is a natural part of socialization. Here is what the famous American sociopsychologist Orville Gilbert Brim, who studied the nature of fame and ambition, received: 📌 2% of people dream of becoming a celebrity is their main life ambition; 📌In another 30%, the desire for fame is among the main desires; 📌 for more than 40%, the idea of becoming famous appears from time to time; 📌And only the rest (which is less than 30%) do not care about fame. So if we take three traders, then two of them will dream of becoming the "powerful trader" about whom will make legends. Is it good or bad? 🧐 Evolutionarily, the desire for broad personal fame is a socio-psychological mechanism aimed at improving the human race. Great people drive progress, and society rewards them with emotional benefits - reverence, worship, etc. In theory, everything should be cool. In reality, the pursuit of fame can take various forms: 🔎constructive ambition; 🔎non-constructive vanity; 🔎various pathologies. For example, if you wanna be one of the famous millionaire traders, ambition can be a good motivating fuel and will help you grow professionally. But the lust for fame can also ruin a trading career. The problem is, that you can't become a famous trader right off the bat. Let's be frank: worldwide fame is for few. Even in order to gain professional recognition in a narrow circle, you have to work hard. And then the subconscious begins to throw in options, insidiously whispering: "It's okay, that you lost three deposits, took five credits for trading and lose 11 times out of 10. Start a YouTube channel and tell everyone how cool you are!"😉 There is no benefit from such activities. Success is doubtful, and in the worst case, you can even earn the fame of a bla-bla man and be known as an unwise person. But even this is not the most harmful thing. The main problem is that the pursuit of fame is a waste of time and effort. 🔥 A trader chasing emotional illusions ultimately reduces his chances of becoming a professional and gaining real recognition. 🔥 The desire for fame corresponds to the fourth stage of Maslow's pyramid - this is one of the forms of the need for respect / reverence. I already made a post on this topic, I'll leave a link for those who have not seen👇 But it happens that the thirst for fame grows out of completely different needs. Such pathologies include: 🔎Lack of love, which a person tries to compensate with popularity. 🔎The conviction that fame will solve all existing financial, household, social problems. 🔎 Feelings of inferiority. 🔎 Revenge arising from feelings of inferiority. 🔎Envy. In all these cases, there is a substitution of pathological adequate ambitions in life. And the pursuit of fame in an attempt to satiate jealousy, raise self-esteem, etc., takes away resources that could be used to achieve really important goals. 🙏 "I was just doing my job" 🙏 Real recognition comes when a person is on the seventh step of Maslow's pyramid, symbolizing the need for self-actualization. Simply put, is engaged in life's work. One beats, beats to achieve fame, while the other just works quietly, creates, does something there - and recive glory on a silver platter. Although he may not have expected it at all. In general, everything is simple: do the job, and the rest will follow. By the way, psychologists warn that if the desire for fame becomes the leading motive of activity, then it's - "blocks creativity and destroys personality." This doesn't mean, that you are forbidden to dream about how you will become a famous trader. But this dream should not be the main one, or only one. By the way, how can a trader become famous? From whom take an example? After all, the paths of glory are so different. For example, you can gain fame: 🔥demonstrating inspiring examples of the play of the mind and the ability to rise after defeat, like Jesse Livermore 🔥revolutionizing stock trading like Charles Doe and Edward Jones; 🔥breaking stereotypes, like Linda Raschke, who became one of the first tough women traders; 🔥becoming a champion in trading and writing a bunch of books like Larry Williams; 🔥deceiving Hitler and becoming one of the main figures in CME history like Leo Melamed ... 🔥And some are overtaken by the glory of Herostratus - like, for example, Nick Leeson, who in one fell swoop swung over a billion and ruined Barings Bank, which entrusted him with money management. I wish each of You - happiness to do something, that really brings You joy, because: SUCCESS IS NOT THE KEY TO HAPPINESS, HAPPINESS IS THE KEY TO SUCCESS! If you love what you do, you will be successful! Always keep it in Your mind and don't forget about Rocket Bomb 🚀💣 💙💛
BITSTAMP:BTCUSDEducation
by RocketBomb
16
Choose YOUR own CORRECT way 🙏🏻Now is the time, when many newcomers enter the market, why I consider it's important to repeat some of my previous posts. And of course "Repetition is the mother of learning"😉 Indeed, the Internet are full of different advertisements, that making money can be easy and effortless on the Crypto market, but that's not true. Now I'm ashamed to admit, but ones, I came here for the same reason.🤦🏻‍♀️ And like many newbies, I made many mistakes. Any person, who wants walking trader's journey has initially two roads - (on the picture I marked them as "correct" and "wrong"). That's my subjective vision, which I demonstrate you after passing the difficult path of my own. WRONG WAY: ◽ Waiting for quick money. ◽ Changing the trading system after each loss. ◽ Using different approaches without understanding them. ◽ Looking for a trading guru, who promises a big income in the shortest time. CORRECT WAY: ◽ Realize that's ok to loss money, but need try to control risks and analyze our own mistakes. ◽ Desire to develop Yourself . Create your own trading system and improve it. ◽ Carefully study the main approaches, analyze what works best for you. ◽ Find someone, who will point out Your mistakes, can help with advice, but wouldn't do all work for you. Having gone the wrong way, I decided to go back and start from the very beginning. And I'm not going to stop!Only forward! I really hope my post helps newbies. It's impossible to avoid all mistakes, everyone has their own path. But how comfort it will be, that's all depends on you! But we Ukrainians say: "Forewarned is forearmed!" I wish You patience, strength, perseverance and a huge desire to conquer the market, because every minute it is filled with different opportunities. But without knowledge it will be very difficult to "catch" these opportunities! Stay safe and optimistic🙏🏻 I try to be useful to You🧡 Always sincerely with You😊 Your Rocket Bomb🚀💣
BITSTAMP:BTCUSDEducation
by RocketBomb
12
Holy Grail Trading System Hello, my lovely friends!!!💓 🔥Today I have something spesial for you today! 🔥 That's Holy Grail Trading System !!! By “Grail” in trading we mean a unique trading system, that can continuously generate profits. According to the legend of the Holy Grail, those who drink from this cup receive immortality. The idea of ​​this scheme is simple. Only by applying of those three conditions You'll become possible to significantly increase capital💰 🧐Let's go briefly through all elements. The first element, trend trading, I think, doesn't need unnecessary comments. Trending strategies for a trader are the best way to make money. But why is this element alone not enough? Even if a trader has an ideal trend trading system, in the absence of a trend, he will lose money. The trader should be where there is volatility, because volatility = profit. The ship in full calm stands still, no matter what sails he had. There is an element of luck. Yes, there is place for external circumstances on the market - there is nothing to be done with it. Not everything is controlled by the trader. It's especially important for risk-averse traders to learn not to get into the market during periods of low volatility . At the last stage, trader need to find balance between the desire to squeeze as much as possible out of the market and the ability to calmly, without nerves, sit out corrections. When the market turns against the position, the trader still doesn't know whether that's a correction or a trend reversal. While sits in position and makes a decision, this movement eats up part of the floating profit or creates a loss. If the trend doesn't resume, a late trader has to close a losing position. The risk should be approximately, that trader can make such a mistake a sufficient number of times and still be afloat💪🏻 Guys, I try very hard for you💓, I carefully select the material, I want to express my thoughts as clearly as possible! 💋I like to teach, I get special pleasure of it !!! Support my enthusiasm with like! Write in the comments : It was clear for you of not? Maybe you have any questions! I'm glad of your feedback !!! Always Yours Rocket Bomb🚀💣
BITSTAMP:BTCUSDEducation
by RocketBomb
22
Choose YOUR own CORRECT way 🙏🏻My dear - dear Friends, probably one of the biggest reasons, newbies come to the crypto market is quick and easy profits. Indeed, the Internet are full of different advertisements, that making money can be easy and effortless on the Crypto market, but that's not true. Now I'm ashamed to admit, but ones, I came here for the same reason.🤦🏻‍♀️ And like many newbies, I made many mistakes. Any person, who wants walking trader's journey has initially two roads - (on the picture I marked them as "correct" and "wrong"). That's my subjective vision, which I demonstrate you after passing the difficult path of my own. WRONG WAY: ◽ Waiting for quick money. ◽ Changing the trading system after each loss. ◽ Using different approaches without understanding them. ◽ Looking for a trading guru, who promises a big income in the shortest time. CORRECT WAY: ◽ Realize that's ok to loss money, but need try to control risks and analyze our own mistakes. ◽ Desire to develop Yourself . Create your own trading system and improve it. ◽ Carefully study the main approaches, analyze what works best for you. ◽ Find someone, who will point out Your mistakes, can help with advice, but wouldn't do all work for you. Having gone the wrong way, I decided to go back and start from the very beginning. And I'm not going to stop!Only forward! I really hope my post helps newbies. It's impossible to avoid all mistakes, everyone has their own path. But how comfort it will be, that's all depends on you! But we Ukrainians say: "Forewarned is forearmed!" I wish You patience, strength, perseverance and a huge desire to conquer the market, because every minute it is filled with different opportunities. But without knowledge it will be very difficult to "catch" these opportunities! Stay safe and optimistic🙏🏻 I try to be useful to You🧡 Always sincerely with You😊 Your Rocket Bomb🚀💣
BITSTAMP:BTCUSDEducation
by RocketBomb
21
How to stay motivated 😉Hello friends! Have you ever felt tired of what you have been doing for a long time? Wild desire to quit this and forget about it forever? I've experienced this a hundred times. What helped me? - recreation - discipline - motivation. I wrote earlier a post about <>. If you have a desire, search for the hashtag #rocketbombmotivation . On the screen, you see a list of what helped me become better🧡 A few years ago, I considered myself perfect girl. I thought I was too good for what was written above, that these are all Instagram phrases to attract attention. I laughed at all this. But I'm glad, that life showed me a different side at one moment. I have lost a lot. But I learned a lesson, an invaluable lesson that made me go up step by step. in 2017, I invested a lot of money in Cryptocurrency trading with absolutely no knowledge.🤦🏻‍♀️🤦🏻‍♀️🤦🏻‍♀️ It seemed to me that I would soon become incredibly rich, becouse Bitcoin continued grow ... As long as your wallet grows, you feel that you are a hero, even a super-hero. What happens next? When I realized that my deposit is almost zero and that my dreams of untold wealth have been destroyed, panic, hysteria begins. At such moments, it seems that you are on the verge of abyss . And all because of what? Because of my own stupidity!🤦🏻‍♀️ How foolish was it to hope that without knowledge and without skills I can become rich? It's impossible. But I'm grateful to fate, that 2018 became a turning point and special for my life. Only "on the verge of abyss", I realized that it was the most valuable lesson, what I need to change my thinking in order to become successful. That's why I've (from the very beginning of my stay here) always said that EVRYBODY need to develop and improve YOURSELF. I wish each of You success and I'll be very glad if my experience can help You to avoid mistakes that happened to me😘 Thank you very much for your attention, I hope you were not bored!😏 Always sincere with You🧡💋 Rocket Bomb🚀💣
BITSTAMP:BTCUSDEducation
by RocketBomb
4