Trade Bitcoin Trading

Bitcoin Psychology: Emotions Fear and Greed

Greed

Most investors are not satisfied with 20 % - 40 % profit annually, what they want is double or triple their bitcoin equity.

With the right trading strategy, the btcusd trading market can certainly be very profitable but greed is always a factor in any human endeavor, especially when it pertains to investing. Greed in Crypto Currency leads to over trading. When a trader falls in to this trap, there is a greater potential to risk too much. Greed can cloud your judgment much quicker than anything else. This is where self-discipline can help you maintain your focus in executing your trading strategy as it is specified in your BTCUSD Trading Plan, to maintain their discipline traders require to use the right market trading psychology rules and principles.

Bitcoin Psychology Greed in Bitcoin Markets - BTCUSD Psychology PDF

Bitcoin Psychology Fear and Greed - Crypto Psychology PDF

BTC USD ==22==CryptoCryptoCurrency psychology - teaches you how to fight your greed & set realistic goals. Greed is what makes most traders to lose. Profit is never enough. Everyone wants to earn more money. Well, some traders do succeed once or twice. That is called good luck. But short-term profits mean nothing. If you focus on good risk management in the long term ==22==you'llyou--will keep winning.

A good principle is, not to use more than 5% of the margin, and not to risk more than 2% on any one single trade transaction.

Fear

Fear is another emotion in psychology that affects the bitcoin trading markets. Poor practices, such as taking on too much risk with excessive number of transactions can magnify the normal stresses of the btcusd trading market place. Best way to combat fear is to learn and understand how emotions affect the btcusd trading markets & learn how to avoid these emotions when trading the btcusd trading market.

Identifying long-term trends can improve trading results, identifying these trends can help you as a trader plan the best strategy so that as you can maximize profits, while at the same time keeping the emotion of fear at bay.

Sometimes, however, psychology problems have nothing to do with your bitcoin trading strategy. They are the results of pre-existing problems that will not be solved by different strategies & techniques. Your biggest enemy when trading is you. It is not the bitcoin trading market or the brokers. It is you! If you do not have a professional Bitcoinmindset then you'll make the wrong decisions and lose money on a consistent basis.

Bitcoin psychology teaches courage. In Crypto Currency it takes a lot of courage, patience and experience to make huge profits.

Hope

Hope can cause investors to make mistakes when it comes to decisions, especially when it comes to staying with a losing trading position for too long. Exit points exist for a reason and losses should be kept to a minimum.

The market may be driven by emotions but it also can be predicted: because it has ALWAYS been determined by the same basic human emotions.

Bitcoin psychology - is based upon how well you as a trader know yourself to be able to profit from your strong points, and also control you weak ones, it has got a lot to do with how successful you'll be when it comes to investing. When you truly know yourself, then you are aware of how you're going to react under certain given circumstances/situations and you can protect yourself from self-damaging actions or decisions when it comes to managing a trade transaction.

The right mindset can be a tool that can help an investor control & predict their emotions so that as they're able to make correct decisions depending on the facts. The lack of this psychology can be a hindrance to success since the movement of the bitcoin prices are pretty unpredictable.

The right psychological outlook can help investors/traders face the issues and make sound decisions in the end. There should be a balance among all the various different aspects of trading that determine whether an investor will be successful when transacting.

System Mindset

This is a part of the BTCUSD Plan about mindset

MINDSET ==22==& PSYCHOLOGY

  • Invest without Emotions (greediness, fear, anticipation, impulse, bias, overexcitement)
  • I trade what I see and not what I--feelI--am--feelingMy--feelings--are--telling--me.
  • I will be patient.

My job description is not to be the trade system!

It isn't to decide which signals looks promising & which doesn't.

That is the job of my cryptocurrency system. My system has a set of guidelines which instruct me this is what I follow. Don't get caught up in bitcoin price action making rules as you go along.

MY JOB DESCRIPTION IS

To sit patiently and wait for my system to show that it's time to enter or it is time to exit. And then with extreme focus I execute my strategy as planned.

Taking trades not indicated by system, second guessing trading system and not taking those given, hesitating and getting in late, anticipating & getting in early are all common-place & boil down to lack of faith in system ==22==and not having a burning desire on accurate execution.

GOAL: To have 100 Percentage undivided desire on mastering ability to execute my trading system accurately.

More you cultivate your ability to step back from bitcoin price movement & watch btcusd market dis-passionately, waiting for a trading signal, easier it will be to witness the fluctuations of your emotions without you getting sucked in to them & allowing them to throw you off your game plan.

WEAKNESS

  1. I am greedy.
  2. I over-trade
  3. Make a list of all your weaknesses which are interfering with your bitcoin strategy. This is first step to help you as a trader as a trader over-come these weaknesses. Use psychology to help you as a trader overcome them.

    NB: by writing down your weaknesses you'll begin recognizing them as you progress, once you do this you will start to avoid these trading mistakes and your results & profit will improve.

    To know how to write these guidelines on your Bitcoin plan, read the Bitcoin plan tutorial at the key concepts tutorial section.

    More Tutorials & Courses:

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