The hardest part about Trading is understanding Trading Psychology. These is why to be consistently good at making good gains in trading, knowing how to manage fomo, fear, anxiety, impatience is very needful to avoid taking quick, impulsive decisions that leads to no profits.
What differentiates a lot of traders from others is that they are able to use the emoticons rightly whether good or not so good ones.
There are some traders according to research that are good at analyzing the market but can’t seem to know why their trades are not doing well.
These Are 5 Major Trading Truths You Should Know
1) Trading In The Zone:
There are two ways to trade out of zone and in the zone. These means trading based on how you feel without following a specified plan while the other is trading fully based on your strategy and plan regardless of whether it goes well or not.
2) Trading Edge Is important:
Trading edge is a series of things that give you the information that when they happen, there’s a higher probability that the price of an asset will go in a certain way.
3) Your Strategy Can be your Edge too:
These is different for people, which is for me using chart patterns can be what works for me and another can be using trend lines.
The trading edge means following a strategy that has been tried by you and that actually brings in gains for you
4) Loss is Part of Business: Many times crypto traders want to only win all their trades but that not possible, because that not how businesses work.
In every business, there’s profit and loss. Every trade that is taken can have a different outcome which is why you can learn from the losses to pick out lessons.
5) Study the market: Studying the price movements of a coin and giving your speculations without taking a position in market and checking in into the market is a way to understand the basics of trading.
