One of the most frequent mistakes I made when I just started my trade life was that I should be in a constant process. Therefore, in the pairs I am interested in, I felt as if I was suitable for entering the process, and I was acting as if I should even take action for small gains. As I talked to others and read the posts on social media, I realized that this happened not only to me, but to everyone who entered the trade life. In today’s article, I will discuss why we feel like this and why this is not rational.
Why should we feel the constant process? First of all, many new trades completing technical and basic analysis trainings are constantly working on graphics to test what they have learned. The thrown backtests and the forward -looking forecasts are successful as long as the person’s confidence and dopamine level increases, he thinks that he grasps the method and decides to carry the proceeded forecasts by taking a step further. The more graphics you examine with a simple logic, the more “opportunities” will become more likely to see. Therefore, there will be at least one parity that triggers you every day.
Find another occupation outside the market
Secondly, one of the biggest mistakes made by many novice Trader is not to find any occupation other than the market. A person who does not have any other job except to take care of the market and to work with graphics will be bored when he is empty and will return to dealing with the grocery store, which is the “best thing he can do. Just looking at the graphics and producing estimates will not make the person feel “succeeded”, and after a while, it will begin to take procedures, albeit with small balances. After a while, this will become an addiction and when the person is not in the process, he will have a feeling of “deprivation” and “emptiness”. At this point, the best advice I can give you will find yourself different efforts outside the market. If possible, try to socialize as much as you can, because it brings “abstraction ında alongside that process itself because you are constantly on the market and probably work from home. In addition to socialization, you can go to sports, walk, go to various courses (diversify according to your interest). You will see that such activities will not only be good for your physical and mental health, and that the transactions you take will increase the success rate.
Is the abundance of technical analysis beneficial?
Finally, since people generally learn more than one technical analysis method, they try to determine the input points suitable for the method and can take operations from the input point in the Price Action with Footprint and can take operations from a point that is not suitable for this method. Therefore, knowing numerous methods and trying to apply on the same graph makes us misleading (for detailed reading: mı Do you have to learn every technical analysis method? ”). I tried to learn everything when I started financial markets such as many new trades and investors. Over time, I learned that it is more accurate to use them as a tool of confirmation instead of identifying different entry points in different ways.
Less process, less stress
So why isn’t it rational to be in constant transaction? First of all, as you can read in my previous article, opportunities in the market never end. Being in the process almost every day will increase your possibility of more impulsive behaviors after a while, which will lead to a speed train like your psychology and mood, and you will feel stressful, sad, angry because of the other day when you have lost the other day. Instead of being in a different personality on every different day of the week, it is quite possible to determine the appropriate points and experience less stress with less process and provide the same gains.
Secondly, the more you take the process, the more likely you will lose. People tend to maintain positive attitudes and beliefs as if they are going to win constantly, but the lost dimension of the work may also lose what a person who is not experienced and is not experienced enough in a few procedures. Especially when the markets are volatility, a process that is revealed can lead to losing your entire balance and your efforts to that time. But many people believe in the contrary and the more processes they open up, the more they will gain.
Danger of addiction
Finally, trying to meet your dopamine needs by taking action for the sake of being continuously processing and not being idle will lead to dependent after a while. As a psychologist, I should emphasize that the dimension of addiction is quite dangerous and can lead to serious consequences, because when the markets become stagnant and volumetric, the likelihood of a person who has not been able to assign trades as before will increase with the feeling of boredom and emptiness.
Is it equivalent to earnings continuously?
As I emphasized at the beginning of the article for all these reasons, if you want to be a trader, you should not only keep yourself limited to the markets. Being in constant transaction does not mean continuous earnings, and positioning in the right place at the right time is what will bring you the profit. Rather than interesting to the market, you should deal with different activities such as sports, socialize and engage your brain with different things. The idle brain searches for something to do and tries to reach dopamine in the easiest way he knows. On the other hand, the more you offer your brain to your brain, you can turn to different things instead of just thinking of taking action at this point.
I am aware that the fact that the crypto markets are open 24/7 is constantly pushing people to deal with the market. At this point, I find it more accurate to set myself a certain time interval and to take care of the market only in that range. From time to time, I am aware that it causes me to miss the opportunities in the market, but I am aware that it is not rational to be at the 7/24 market and that it will make me more impulsive and that it will make me get less pleasure than life. At this point, I recommend you to ask yourself the following question: “Do you make money to live or do you live to make money?”
