Trading Psychology | Finding The Balance When At Market Loss

Losing money/investment is something that we are prone to when we make inappropriate decisions, be it in the crypto space trading foreign exchange(Forex), stocks options to mention a few.

When it comes to trading 80% of our mentally is on buy options that made profit not the ones we fall short we fail to take a look closely to see reasons why it happened and also come up with better strategies that will possibly reduce loss rate.

Being a successful trader requires a lot of practice and planned out strategies to avoid loss, or reduce it to the barest minimum and also understand why some of your trades lost money.

Couple of years back before I had any interest in cryptocurrency and the opportunities lies within, my interest was on Forex. I totally understand that it’s a volatile market was but still yet I really didn’t want to lose my money instead of me trading I handed it off to a self acclaimed trader and it was a history I really want to put behind me.

Having a clear understanding about the market averages would go a long way to when making buying calls, as majority of traders are just concerned about profitability.
In my early years of trading I had no trading strategy which is employ i just go with the feeling and intuition I have as regards the trade or buy call.

Sometimes I stay profitable or I just crash out of the market.
As an individual investor understanding this is key in order not make better decisions.

A trader should have a proper understanding of what risk management is cause it will help in making decisions as regards trading and also reduce the act of greed, because trading greed kills more faster than you think it can practically leave you bankrupt.

If you seen this post on a Web2 ecosystem and you have no clue about what Leofinance is here is a brief definition;

LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
Over here we refer to users as lions, so are you ready to be a lion here is my referral link

Also don’t forget in contributing to the pHBD-USDC pool, and from statistics it looks like we will be able to archive the set target in a few months, let’s do our own part in growing the pHBD-USDC liquidity and also take out time to participate in the Leo power up challenge which happens every 15th of each month.

Let’s also connect on some of the web2 platform.
Twitter: Hironakamura

Posted Using LeoFinance ^Beta