With the ever-increasing use of virtual currency and its volatility, cryptocurrencies are being adopted across the world for various transactions. Cryptocurrency derivatives trading is a new trading area that many daytime traders are interested in. Last time we give you a brief introduction of the aspect of trading marketing and some point you need to remember. While in this article we will tell you a useful point to be a powerful trader you need to view trading as a score in points and not in money. We will give you the basics introduction of this, so you may have a deeper understanding of it.
How can you view trading as a score in points instead of money?
How can you do this when it's money we are trading with? Firstly，use some imagination. Pretend it's not money but simply a game your playing and your account represent points scored.
Secondly，What you need to do is to stop counting dollars every time the market moves and start concentrating on following your rules flawlessly. When you can operate on this level not only do your profits soar over the long run but it takes away all the stress of trading.
You need to know that , most of the top trader, they never saw the markets as a cash box but simply as a way of operating a business. The secret of this game was to follow their rules and score the points. It's not possible to become a top trader if you view every tick in the market as money lost and gained.
Why do you need to view trading as a score in points instead of money?
Because if making and losing money leads to emotional distress and joy and emotions are one of the most potent destroyers of successful trading, then common sense dictates that in order to be a Highly Successful Trader you must eliminate all emotion from trading. How is this done? Easy, follow the rules. How do you follow your rules? Make it THE most important element in your trading. Forget about the money that will take care of itself it's all about those rules and how well you can follow them.
Why do you need to follow your rules?
When you enter a trade you need to bend the rules, and also you have gathered enough experience to realize that you can NEVER break the rules. Not one trade can be the exception. You will learn to do this by counting in terms of points scored and not money.
You need to believe that what really separates winners from losers is the ability to follow your rules without exception, regardless of the circumstances. Very few traders have the discipline to do this.
Thanks for your time, after reading this article, you may have a deeper understanding to be a powerful trader you need to view trading as a score in points instead of money. It was an honor to share the experience of cryptocurrency derivatives trading with you. In the next time, we will discuss how to keep trading as part of a balanced life. For more information, please follow all of our newest articles on Bybit.
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