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Self-control is the main thing in the crypto world
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Self-control is one of the most important traits for a successful trader and is often what separates consistent traders from those who lose money. Here’s how it manifests itself and the difference it makes in performance:
1. Emotional Control
With self-control: The trader is able to remain calm in the face of losses or gains, avoiding impulsive decisions. He follows his plan and does not let greed or fear take over.
No self-control: Decisions are made in the heat of the moment, such as increasing position size after a losing streak (to "catch up") or exiting a profitable trade early for fear of losing gains.
Self-control is one of the most important traits for a successful trader and is often what separates consistent traders from those who lose money. Here’s how it manifests itself and the difference it makes in performance:
1. Emotional Control
With self-control: The trader is able to remain calm in the face of losses or gains, avoiding impulsive decisions. He follows his plan and does not let greed or fear take over.
No self-control: Decisions are made in the heat of the moment, such as increasing position size after a losing streak (to "catch up") or exiting a profitable trade early for fear of losing gains.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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