AskLeo - What to do with your instincts in cryptocurrency trading?

in LeoFinance2 years ago

Being successful in cryptocurrency trading is something that not everyone is capable of (although it is true that many try).


What is success in trading?

For me, it is simply when most of your trades make you profit, that simple. That is, to consider yourself a successful trader, most of your operations have to give you significant profits in percentage terms.

But what does it take to be successful in trading

Many things, including technical knowledge, market knowledge, projects knowledge, economic capital, etc.

But apart from all this, it is required to have instinct, handling of emotions, will, desire to improve and learning capacity

Instinct: Because it's not all about having knowledge; many times (frequently), markets take behaviors that leave us bewildered. Even analyzing everything correctly, the markets frequently take a course contrary to what traders expect, and that is when the instinct we must have and perfect comes in, to know what to do in the markets and when to do it.

Management of our own emotions: Because the market makes us doubt at every second of what we think or decide; that is, we buy a cryptocurrency (for example), and it immediately begins to fall in price, and dumbfounded, we wonder at that moment if we were right to buy. It is there when we must have the fortitude to know that everything in trading involves risks, and that the decisions we make based on well-founded reasoning, we must carry them out to the last consequences.

Will: To do our best in our actions in the markets.

Willingness to excel: We need aspirations, high expectations, but at the same time realistic of what we want and can achieve in the markets.


Learning capacity: Because the markets give us lessons every minute and we must assume them with humility and the capacity for observation, to act better in future opportunities.


How to develop instinct?

All of the above is fine, but as many may have noticed, the hardest thing to develop in trading is where instinct is concerned.

It turns out that no one can teach you instinct, even if your teachers are prodigies, and the trading books you read and the trading courses you take are great, nothing and no one will give you the instinct you need to operate in the financial markets and of cryptocurrencies,

And this is because in trading, only you can learn to develop your own instinct.

Only you are responsible for doing it, only you can know what is good or not so good for you, what is acceptable and unacceptable for you in the markets, only you can learn these things, and act accordingly.

And you can only develop your instinct for trading if you develop observation and patience, but the extent to which you should do it and how, you must decide by yourself.


What to do with your instincts in trading?

Once you have your instincts developed, the sky is the limit of the profits you can make with your trading operations, do not forget!

Thanks for reading my post! See you!

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