This psychology hack helped me become a profitable trader
This psychology hack helped me become a profitable trader
As a trader, it’s not good to rely solely on trading as your only source of income. Why? Depending solely on trading puts immense pressure on you to meet monthly bills. The consequence? You may find yourself taking unnecessary and low-quality trades.
However, when you have another or multiple other sources of income alongside trading, you can stay relaxed and have the mental comfort needed to make quality decisions. For example, you can be a trader and be a Bitcoin miner.
Do you have another trading psychology tip to share with me?
I agree and we can put it in another way that do not quit your day job to go into trading full-time as a beginning. If you have a trading mental someone that you follow who is highly successful you should not think that they achieved that level of success overnight rather it took a lot of years of experience, trials and failure for them to attain that success. When you have another means of income you would not want to fall into the trap of wanting to make a lot of money through trading overnight because you know that if you feel you’ll be out on the streets and homeless or back in your parents basement. Until you are sure that your are making enough money to sustain yourself and your basic needs as a full time trader, do not quit your job.