$GAS 550% on spot 🔥
From $2.8 to $18.2 in 12days
Thts is 11000% on 20x tho it was a spot trade
#Binance top gainer ✅
Highest volume on #Upbit
It might drop now
Take profits 🥂
and be a part of ~#Elites 🔰

🙋‍♂️ I lost money for 3+ years trying to learn day trading.

🫡 Once I became a CONSISTENT Trader I made back all my losses back in 1 month.

📝Here are 3 Trading Psychology Tips to accelerate your learning.👇

✅Intelligence Levels
When I first started trading every single time I would take a trade & lost I thought:
Am I even smart enough to trade, why do I keep losing?
This hindered my confidence as I believed I wasn’t smart enough to be a full time trader.

✅IQ

In reality trading has nothing to do with your IQ after a certain point.
Trading is based on your EQ levels, emotional intelligence.
A trade you enter and win doesn’t mean your smart.
A trade you lose doesn’t mean your dumb.
It’s just PROBABILITIES of the market.

✅Stop Loss
Every single time a trade would go to my stop I would have 2 thoughts:

A: Should I stop out of this trade?

B: I’ve seen trades that I stop out of, go back to my profit target, maybe I’ll just hold.

✅Stop Loss

90% of the time as a new trader I chose option B.

I would hold onto the loser in hope it came back to my profit which it rarely did.

But when it did I felt like I beat the market.

Which I didn’t I was just building bad trading habits of not following my plan.

✅Analysis Paralysis

After you lose money trading you start to build up this fear in your head that most trades you take will lose.

This fear blurs your vision even if your the best chartist in the world you won’t execute because you have no confidence.

✅Analysis Paralysis

Therefore, I would see my A+ setups form & not take it because I thought:

- I’ll wait a little bit more to see if the trade confirms itself.

- I’ll wait longer to see if the trade gives me a better entry.

- I’ll wait b/c I don’t want to lose.

✅Analysis Paralysis

This kept me from entering trades that were in my system & worked.

But start taking subpar trades after I saw a trade go without me making me lose twice.

🙋‍♂️In Conclusion,

I hope this post helped you understand some of the crucial psychology aspects

Must Read: Your PNL (floating profits) is not your Money yet.Most traders make the mistake of thinking that their PNL (floating profits) is actually their money when they haven't closed the trade. This is most common in future trading, where a trader can flaunt 1,200% PNL and later close the trade in a loss.Your PNL (profit and loss) is floating until the trade is closed. You can have a floating loss of 100% and still end up closing the trade in profits, and vice versa.This is also applicable in spot trading; if the coin you invested in pumped to 200%, make sure to book some profits before flaunting your 2x PNL. Most importantly, don't allow social media pressure to negatively influence you. Apply proper risk management when trading in the crypto market.See you at the top. You can support us with a tip. ❤️