Trading is a stress-free occupation
If you are a stressed trader, you are a bad trader.
Stress come from doubt.
There is no reason to be anxious if your plan is carefully planned.
You have to:
- Examine all the price action possibilities
- Prepare your reactions
- Anticipate the unpredictable: have a plan B!
Price action possibilities
I see a lot of bulltards on twitter. I did stop using it. You shouldn't need to check other people's TA.
Learn charting yourself, this way you won't have to rely on pre-made chart based on things you don't understand: from non-understanding come nervousness.
Always try to see how the price could go up, and how could it go down. Most of the people only do the first one. They end trapped in a bear trend, keeping looking for indications of a bull trend.
Although they may in the end breakeven and go even higher, they should have took the responsibility to sell, and to buy back at a 5 times cheaper price. They lose time & gains.
Your reactions
You must know what you are going to do if price break upward, downward, keep consolidating, etc...
This is according to the risks you are willing to take. Is the situation really risky ?
Plan B
Put enough money in a stable asset, as wealth storage.
In case of extended downtrend, you won't have to worry about how to pay bills. And you'll have capital to buy at a cheap price.
You can also get yourself a "side-revenue", like mining, writing on Steem 😉, or even do a boring 9-5 job.
With knowledge and experience you should be able to get a stress-free experience of trading. Emotional management is very important, don't be a slave of your emotions! I also advice you again to practice mindfulness, like I've pointed out in this article about intuition.
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I am not an expert in economics and finance, less in capital investment, but if I am aware that many people live as slaves in business and live in constant stress and their desperation to emerge or get rich quickly tends to invest desperately and when they realize their capital was in a tailspin ...
Absolutely, stress is not healthy, both for mind and for decision-making.
I got to read this again to soak it in. I was the rsi to trade stocks. It isn’t 100% but is right more often than not.
If there is any part that lack of clarity feel free to tell me!
Are you speaking about the Relative Strength Index ? You can use it, but you can't BE it 😉
It's one of my main indicator along with volume
I’m such a dope. I wanted to say I use rsi. Yup relative strength index you got it. ThAnks for the support bud!
A very good post @toucancrypto, I agree as you say. Honestly, I'm not very familiar with the trade, the economy, the investment and the market. Because to succeed in the world of commerce is very difficult, because I do not have the capital, and very many rivals. But post you a new science that is very useful for me. Thank you for sharing and hopefully you will be more successful to work... :)
Very informative and good post. Thank you dear @toucancrypto
Great point, do your homework and trading is a lot less stressful.
Intelligent working is always rewarded!
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