Sometimes you realize that you fell into a rut and your trading got boring. You've lost that passion and drive, you’re not excited like at the very beginning when you were making your first steps in trading. It all just got dull. But you really need an adventure! You want to make a lot of money, enjoy your life and love what you do. Isn’t trading about all of that? In this article, we will explain why we believe that “fun” trading is actually unhealthy and share 5 tips to make your trading more conscious and effective.
But first, let’s answer the following question: Why we get bored?
Our brain is constantly working, it can’t do anything, so it’s always looking for ways to entertain itself, i.e. you. We are wired this way, that’s why we:
While doing it, we can simultaneously talk on the phone or send funny texts to a friend. We’ll do anything to avoid boredom and bring those serotonin levels up. Yes, avoiding boredom and apathy is in our nature. When we get bored, we become sad and feel bad. But did you even notice that all great ideas and solutions manifest themselves in the moments of solitude and tranquility?
When we need to solve a complex, incomprehensible problem, we turn off the music and movies, ask everyone to leave the room and leave us alone with our thoughts? It’s all about focus. Focus is essential for programmers, designers, musicians. Focus is also essential for traders:
All great traders unanimously agree: you need to give yourself 5-10 minutes to tune in to trade:
Focused? Got in the zone? Well, now you can hear us out. Let’s debate why trading is so boring at times, and why it should be that way!
That’s a tricky question. «Well, I’ve earned this money, so I deserve it». And, consequently: «If I lost money, it means I’ve made a mistake».
Yes, our life experience suggests that it’s right to think that way. However, if you think about it, trading can be rather counterintuitive. For example, how about the fact that you can only earn from trading if others lose their money?
In fact, the money you deserved is the money you made by sticking to your trading plan. Say, you analyzed the chart and said, “Bitcoin is trading around $30 000, and it’s overbought. So I need to short it.”
So, Bitcoin reaches the $30 000 mark and keeps rising, but you get no signals to enter the market. Then, it climbs to $35 000. Still no signals for market entry. BTC rises to $40 000, slows down and enters a sideways range on an hourly time frame. You get anxious, read over your trading plan/strategy, set alerts and wait for the market entry signal:
If when trading you:
Congratulations! You earn your money rightly, and you deserve it. And even if you lose from time to time, it’s still ok, it’s just how trading works. No business brings you constant profit, sometimes you make mistakes, learn from them and grow even stronger.
You can’t build your business without discipline and consistency. We’re serious. Do you really think that Warren Buffett, George Soros, even the chatty one Mike Novogratz follow their plans and strategies, and you don’t have to? Maybe that’s why you still don’t have a brand new Bentley parked in your garage, huh?
To hell with your discipline! Are you sure? Let’s see what Warren Buffet thinks about it: «We don’t have to be smarter than the rest. We have to be more disciplined than the rest» (с)
We bet you don’t know all the strengths and weaknesses of your strategies. You probably know some of them, but not all of them and not thoroughly. For example, institutional traders like to take money from retail traders using false breakouts:
Did you know that a false breakout can happen at:
So many variations. Besides, during the false breakout a wide variety of candles can appear. All this must be taken into account. You should not only consider and create different modifications of your strategy, but you must be able to make money from them.
From this article, you should understand one thing:
Trading currency pairs, cryptocurrency and stocks is no different from working at the office. You sit down at your desk, focus on the task, and start working. You learn something new and hone your skills, you set goals and take stock of what has been achieved.
All these boring things will bring you massive profits and trading success. Are you ready to start?
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||Volume 24h|
|1||BTC||Bitcoin predictions||83.6%||24||$48 023.28||-0.71%||3.44%||$903 705 648 774||$30 868 405 829|
|2||ETH||Ethereum predictions||71.6%||52||$3 563.80||-1.89%||4.12%||$418 950 530 113||$18 493 669 977|
|3||ADA||Cardano predictions||66%||64||$2.42||-2.23%||-3.43%||$77 683 489 177||$3 095 901 217|
|4||BNB||Binance Coin predictions||68.4%||70||$421.22||-2.55%||-0.83%||$70 821 892 729||$1 657 577 581|
|5||USDT||Tether predictions||96%||1||$1.000499||0.02%||0.05%||$68 288 037 795||$74 172 515 331|
|6||XRP||XRP predictions||71.2%||56||$1.093567||-2.51%||-3.05%||$50 984 520 461||$3 018 193 479|
|7||SOL||Solana predictions||57.2%||89||$146.88||-7.34%||-21.00%||$43 597 219 268||$3 263 512 936|
|8||DOT||Polkadot predictions||63.2%||83||$36.36||1.92%||15.42%||$35 909 826 746||$2 318 625 572|
|9||DOGE||Dogecoin predictions||66.4%||65||$0.254974||3.69%||0.76%||$33 480 789 211||$1 873 594 606|
|10||USDC||USD Coin predictions||94.8%||1||$1.000186||0.02%||0.01%||$29 230 519 112||$2 845 039 489|
|11||UNI||UniSwap predictions||68.8%||56||$25.82||-4.67%||9.72%||$15 791 177 382||$595 594 004|
|12||LUNA||Terra predictions||68%||67||$36.20||-0.80%||12.70%||$14 549 248 511||$1 555 371 086|
|13||AVAX||Avalanche predictions||69.2%||69||$64.76||6.83%||48.17%||$14 265 392 957||$2 603 032 868|
|14||LINK||Chainlink predictions||74%||56||$29.85||-5.29%||4.13%||$13 491 251 604||$1 523 058 445|
|15||BUSD||Binance USD predictions||96%||1||$1.000197||0.01%||0.02%||$12 747 342 580||$6 385 206 639|
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