Not Everyone Can Be A Trader, Managing Emotions And Discipline Is An Effective Strategy When Trading

Illustration. (Photo: Unsplash)

JAKARTA - Psychology trading refers to emotional and mental conditions that affect trading decisions. Understanding and managing this aspect is very important to achieve long-term success in crypto trading. Psychology trading also includes discipline and consistency in following trading plans. Without discipline, traders tend to make impulsive, detrimental decisions.

Crypto trading requires the ability to manage emotions such as fear, greed, and euphoria. Fear can make traders sell assets too quickly when prices drop, while greed can push purchases at the top of the price.

Self-awareness and emotional control are key to making rational trading decisions. Traders are successful at being able to maintain emotional balance and are not easily affected by market fluctuations. Oscar Darmawan, CEO of INDODAX said that not everyone is suitable to be a trader.

"Don't force yourself, not all of them can become traders. In fact, a lot of money is long-term investors, and everyone can almost become investors compared to traders. Examples of people who are not suitable to become traders are panic when they see assets falling because they are too worried, while being a good investor is simpler, just need to buy and forget their assets, see 4-5 years later," he said at the closing of the 2024 Crypto Literacy Month event, quoted Wednesday, June 5.

This view reinforces the importance of long-term investment in crypto. Oscar suggested that people consider becoming long-term investors as a safer and more profitable strategy.

The same thing was said by Andy Sanjaya as a full time trader reminding that not everyone is destined to be traders.

"I've never managed to sell Bitcoin at the highest price, but at least it's always profit. We can't manage the market, we can only have an exit plan. Even though we've been doing research for one year, it's not necessarily successful, but at least we know the strategy, such as taking gradual profit and being grateful for what we got," he explained.

Andy's statement underscores the importance of strategy and planning in crypto trading. He also stressed that good education can help traders and investors make smarter and more informed decisions.

On the other hand, Oscar Darmawan highlighted the bull market phenomenon which is not much different from the previous years.

"Having is not much different from before. Markets always repeat itself. All-time high occurs not before or during halling, but after halling. It doesn't go up right away, but it definitely goes up, it's just that every half price is smaller. BTC market is also getting liquider," said Oscar.

Oscar also said that the market is growing with the existence of an ETF from Bitcoin and the newly approved Ethereum ETF, which demonstrates the stability and maturity of the crypto market today. This reflects that crypto investment is now safer and more secure for investors, especially with stronger regulatory support.

To become a trader or investor, the INDODAX platform, from websites to social media, can be accessed for free as a training ground. INDODAX also supports education and literacy as an initiative to strengthen public understanding of crypto asset investment through INDODAX Academy.

With the series of officially ending Crypto Literacy Month activities, INDODAX remains committed to supporting education and literacy through INDODAX Academy which can be accessed on the web and YouTube as well as Social Media INDODAX, this is to strengthen public understanding of investing in crypto assets. This activity reflects INDODAX's ongoing commitment to supporting the development of the crypto industry in Indonesia.

INDODAX hopes that this initiative will continue to encourage the growth and maturity of the crypto market in Indonesia.