Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: Rruchi man on April 12, 2024, 07:36:20 PM
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Some simple practices can help a newbie trader to quickly improve on his/her trading skills. some of these practices are very simple, can be done alone or best with another newbie trader who wants to become an expert trader. Some of these practices that I have observed are;
- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.
- Be consistent, and to encourage or learn consistency, you can start a 21 days trading challenge with a fellow newbie trader, or a trading challenge for as long as you want. If you do a challenge with someone, the person can encourage you when you feel like quitting from the challenge due to failed analysis or other reasons.
- Whenever you loose in trading, always return back to find out the reason why you failed.
- Do not depend on signal groups.
- Practice emotional control.
- Do not focus on too many cryptocurrency pairs.
- Join a community of traders.
These are a few, and I am sure there are more from other traders, please share to the benefit of us all.
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Some simple practices can help a newbie trader to quickly improve on his/her trading skills. some of these practices are very simple, can be done alone or best with another newbie trader who wants to become an expert trader. Some of these practices that I have observed are;
- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.
- Be consistent, and to encourage or learn consistency, you can start a 21 days trading challenge with a fellow newbie trader, or a trading challenge for as long as you want. If you do a challenge with someone, the person can encourage you when you feel like quitting from the challenge due to failed analysis or other reasons.
- Whenever you loose in trading, always return back to find out the reason why you failed.
- Do not depend on signal groups.
- Practice emotional control.
- Do not focus on too many cryptocurrency pairs.
- Join a community of traders.
These are a few, and I am sure there are more from other traders, please share to the benefit of us all.
The points you listed are essential for traders, especially practice and psychological control in trading. The market is truly harsh, and only effort will bring profits to traders.
I would just like to add that in the process of learning and applying technical analysis methods, traders will have to accept that sometimes what they learn is not effective in creating a profitable trade. The market is more dynamic than what we know, the current popular indicators and methods were created decades ago and may no longer be truly suitable for the current market, especially for crypto. At the same time, not all methods are suitable for all traders. A trader need to practice to find a method that suits him, in terms of risk, time frame...
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Demo trading for newbies. I know that a lot of people do not look at that as something good, but that is exactly what you should be looking at. I personally believe that the best thing to do in this case would be to learn how to trade from a demo account. If you could do that, you could get better with time, it's going to be something special for you. I believe that the best way to go further would be just to arrange a system that works at demo trading before you start to go towards better results. In the end, if you could get what you want at a demo, then there is a possibility you could do it in real life, but if you fail at the demo then you will definitely fail in real life.
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I don't know why, no matter how many things I learn from trading, whether it's material that is quite easy to understand or analysis that is quite heavy, for me, it doesn't really matter. It's nothing, but I really can't afford it. ha ha
So, betting is so complicated, I think I've tried it. indeed sometimes it is very fruitful. I tried to analyze the market using several techniques. But in the end, it made me even more confused. I even used VIP trading signals. However, it still can't be optimal. So it's possible that my passion is not in trading, because it's still difficult to follow the method or understand trading analysis very accurately.
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But in the end, it made me even more confused. I even used VIP trading signals. However, it still can't be optimal. So it's possible that my passion is not in trading, because it's still difficult to follow the method or understand trading analysis very accurately.
I believe you need experience before you can start to make better calls. Most traders that I know of seem to stick with two or three indicators they're most familiar with when they're doing technical analysis, maybe you can try to do the same to avoid confusion and improve your sense when you use them. It is hard to know whether trading is for you or not unless you stick with it for a while, but I believe if you are not a patience person then it is difficult to do so. I'd suggest you avoid any signal group tbh, as most of them are just pump and dump groups in disguise even if you paid for the VIP service. Even if you got lucky, there's no guarantee that the owner won't make bad calls too and it will reduce your trading sense if you keep relying on their analysis to make decisions.
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They are very good advice, especially about trading with a demo, so you can have an idea that things are at that level and that every time one of the operations fails you have enough power to recover quickly, I I would say that when we do tradign we must have 3 operations, if in those operations we do not come out with a positive balance, we must check what is happening, because we are not seeing the market in the correct way and that is a reason to do an analysis or even stop ultimately to know where we are failing, because the way of seeing the market is not correct.
The market offers many Opportunities , I think that patience is also a way to see it as good advice, and that the greatest of all the graying is not to think that with trading we will become millionaires, trading must be seen as a business, where we We must win but little by little.
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Some simple practices can help a newbie trader to quickly improve on his/her trading skills. some of these practices are very simple, can be done alone or best with another newbie trader who wants to become an expert trader. Some of these practices that I have observed are;
- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.
- Be consistent, and to encourage or learn consistency, you can start a 21 days trading challenge with a fellow newbie trader, or a trading challenge for as long as you want. If you do a challenge with someone, the person can encourage you when you feel like quitting from the challenge due to failed analysis or other reasons.
- Whenever you loose in trading, always return back to find out the reason why you failed.
- Do not depend on signal groups.
- Practice emotional control.
- Do not focus on too many cryptocurrency pairs.
- Join a community of traders.
These are a few, and I am sure there are more from other traders, please share to the benefit of us all.
Trading with demo account is one of the things you should really to become expert in trading. It helps you to make a better trading plan and to know how good the strategy you are using. By determining the win rate of your trading strategy, it helps you to gain confident if you transitioned to real account. If you are confident, it will not affect your trading execution. Overall, demo trading not only helps you to make a better trading plan but also helps you to improve your trading psychology.
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The best practice is to become convinced that you cannot always achieve gains in trading. Trading sometimes leads to gains and sometimes losses, but the outcome of your trading must be profits.
Starting with demo trading does not mean that it is necessary only for beginners, but also that any trader needs to retest his strategies several times, so a demo account is important for all traders.
Do not make trading a full-time job, as there are trading bots that can be programmed, and then you may not need to be in front of the trading screen for more than a quarter of an hour a day.
Do not trade with money you need within the next 6 months.
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I don't know why, no matter how many things I learn from trading, whether it's material that is quite easy to understand or analysis that is quite heavy, for me, it doesn't really matter. It's nothing, but I really can't afford it. ha ha
So, betting is so complicated, I think I've tried it. indeed sometimes it is very fruitful. I tried to analyze the market using several techniques. But in the end, it made me even more confused. I even used VIP trading signals. However, it still can't be optimal. So it's possible that my passion is not in trading, because it's still difficult to follow the method or understand trading analysis very accurately.
The points that OP conveyed are indeed important points for us to start trading, but the problem is that theory and practice will be very different. We may be able to understand the theory we learn and when we do it directly in trading it will make us confused.
I think you're not the only one who feels that way, because I feel it too and I think there are still many people out there who also feel the same way. Trading is not as easy as it seems, we are required to understand and that is not easy.
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Demo trading for newbies. I know that a lot of people do not look at that as something good, but that is exactly what you should be looking at. I personally believe that the best thing to do in this case would be to learn how to trade from a demo account. If you could do that, you could get better with time, it will be something special for you.
It is the same as when we used a faucet on the crypto casino to gamble and then make a deposit to play. Unfortunately, we don't take demo trading seriously. Most of us create an account, and when we get the demo funds, we take it lightly, and open the position as if it's nothing (it's nothing, though). The question is, can we do the same thing with the real funds? Of course no. To learn to trade, you have to treat the demo funds like the real funds so you value them and understand how you willll feel if you lose the trade. But unfortunately, we never manage to control ourselves and we never take the demo funds seriously.
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It is the same as when we used a faucet on the crypto casino to gamble and then make a deposit to play. Unfortunately, we don't take demo trading seriously. Most of us create an account, and when we get the demo funds, we take it lightly, and open the position as if it's nothing (it's nothing, though). The question is, can we do the same thing with the real funds? Of course no. To learn to trade, you have to treat the demo funds like the real funds so you value them and understand how you willll feel if you lose the trade. But unfortunately, we never manage to control ourselves and we never take the demo funds seriously.
This is true and the exact reason why I indicated that not all traders started with Demo trading. There are some traders who recognize that learning to demo trade before they enter the live market can take a longer time because demo trading may not actually teach you the emotional side of handling your account and trading and that will be a new lesson for every new trader to learn after they have spent time demo trading. Some traders who have the money to risk in learning, skip that process, and practice on the live market with very little lot size. This approach teaches them the emotional side of trading too.
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Other than demo trading, I agree with all of the points that you have mentioned in the OP. I think out of all those points, control over ones emotions is the most important one and without it a trader can't make profit as a trader.
I believe a trader should have a proper plan when they start trading and they should build their own unique strategy. It's easy to follow other trader's plans, and strategies but those won't be helpful, that's why a trader should have their own unique strategy that they use each time to make profitable trades.
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I have did with all step above but can running smoothly and always get failed, I am interested with trading challenge and has limitation around one week should earn profit around $500 to $1000. Firstly is running well and the first week my challenge success get profit almost raise $1k but on second week get problem how easily my coins trading drop drastically, not use feature stop loss and should be long term holder without unpredictable when recovering of my altcoin or bitcoin assets.
Need to deposit another fresh money and forget with some coins assets dropping, but I doubt will get the same with my last capital just taking profit in the firstly week than loss?
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Some of these practices that I have observed are;
These are a few, and I am sure there are more from other traders, please share to the benefit of us all.
You list something contradict with each other. For example.
- Do not depend on signal groups.
- Practice emotional control.
- Join a community of traders.
If you want to have independent thinking, don't join any trading, signal groups or community.
If you do it, you will become dependable on others (thinking, signals) and noise in such groups, community will cause you harder to control your emotion. I am against this idea.
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You list something contradict with each other. For example.
- Do not depend on signal groups.
- Practice emotional control.
- Join a community of traders.
If you want to have independent thinking, don't join any trading, signal groups or community.
If you do it, you will become dependable on others (thinking, signals) and noise in such groups, community will cause you harder to control your emotion. I am against this idea.
There is a benefit to joining a community, being a member of a community of people interested in trading can help you to maintain the high interest in trading, and in times where you are discouraged, thinking of quitting trading, you may be motivated to keep trading from the motivation of other traders in the group who may share stories about their trading journey occasionally to encourage others like you.
You are in a community that is free, not a signal group where you have to pay an amount for fee monthly, and although you can be influenced from the analysis and chatter of other people in the group, the entire decision making still falls to you.
Being a member of a community will also help you to become emotionally stronger as you will learn how to control the influence of other traders on you.
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Thank you for sharing your insights OP. It's always best to practice the things that you have input with. It's important to embody this and make sure that you follow it. The best thing a trader could do is assess your risk management. How much you are going to invest per trade and how you are going to limit your trades.
There are some groups that will help you and calls are up to you if you will follow or not.
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- Do not focus on too many cryptocurrency pairs.
These are good some really good points, although when I was a newbie in trading, I was also not so focused to too many crypto pairs. I kind a stick to Gala and Dydx. Before that, I was into future trading, and I was focusing on many crypto pairs. Which I think was a bad choice. Even if we want to stick to more than one pair, then we have to change our trading type. I prefer spot trading for too many crypto pairs and future trading for one or two crypto pairs.
Overall, I don't recommend future trading to anybody, especially to newbies. Because its a little risky and you can lose your funds if a newbie or do not have enough knowledge about the market. When I tried to focus on more than one crypto pairs in spot trading after learning it, I realized diversifying your portfolio is the most necessary thing because it's a risk-managing technique that we all should follow to minimize the lose and increase the profit.
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Some traders who have the money to risk in learning, skip that process, and practice on the live market with very little lot size. This approach teaches them the emotional side of trading too.
Also, it depends on the trader's wealth. Even though it is recommended to have enough funds to recover your trading losses, some traders start with a very minimal amount and if they lose it, they will be in trouble. For such cases, these traders should try the demo trade first because losing their trades will be difficult for them.
Even though it is recommended not to trade if someone cannot afford to lose, but, people want to make money with their minimum investment. Demo trading is a must for them. It will help them learning many things and help them minimize the risk of losing trades.
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This part "- Whenever you loose in trading, always return back to find out the reason why you failed."
Learning from my mistakes helps a lot go back to my old analysis and check what I did wrong if I did the analysis well or you just too greedy.
Also one of my mistakes in trading is chasing the spikes is very worst decision unless you have done analysis and always enabled the stop-loss because sometimes spikes make you lose much if you didn't set a stop-loss.
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I don't know why, no matter how many things I learn from trading, whether it's material that is quite easy to understand or analysis that is quite heavy, for me, it doesn't really matter. It's nothing, but I really can't afford it. ha ha
So, betting is so complicated, I think I've tried it. indeed sometimes it is very fruitful. I tried to analyze the market using several techniques. But in the end, it made me even more confused. I even used VIP trading signals. However, it still can't be optimal. So it's possible that my passion is not in trading, because it's still difficult to follow the method or understand trading analysis very accurately.
Indeed, trading is not the only way to make money. I don't know why you experience all this, I think you should just take a deep breath and find out why you seem not ro understand analysis. Maybe you kept telling yourself you can't do it or something.
But if you have passed that phase. You can venture into this other investment method which I talked about here. Like the premarket and other stuff. I hope it helps https://www.altcoinstalks.com/index.php?topic=320417.msg1540042#msg1540042 (https://www.altcoinstalks.com/index.php?topic=320417.msg1540042#msg1540042)
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Think of trading like fishing. You've got to have a good plan before you head out-know what bait to use, find the right spot, and don't rush. Just like you wouldn't spend all your savings on a fishing trip, don't put all your money into one trade. Keep learning the tricks of the trade, start small, and be patient. Write down what works and what doesn't, so you can get better over time. Basically, be smart, keep learning and don't risk more than you can afford to lose. That's how you keep your wallet happy in the long run.
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Thank you for the good trading tips, there are a lot of good tips mentioned by you and the rest of the members. But in the end, experience remains the true criterion for success or failure.
For me, the golden advice for all traders is not to risk more than you can afford to lose, and also to be patient and not to rush because trading requires a lot of patience.
Controlling emotions is very important for traders, especially fear and greed, because they are the two emotions that whales use to manipulate the market, so it is very necessary to control these emotions so that they do not cause you major losses.
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For me, the golden advice for all traders is not to risk more than you can afford to lose, and also to be patient and not to rush because trading requires a lot of patience.
Unfortunately, Not many of us follow this advice. I am not a regular trader. But I used to gamble a lot. This advice applies to gamblers as well. Because the gamblers also risk their money on casinos. Most of the time I give this advice to other gamblers but my ass cannot follow it when it comes to myself. I end up betting max and losing money, which I cannot afford to lose.
Controlling emotions is very important for traders, especially fear and greed, because they are the two emotions that whales use to manipulate the market, so it is very necessary to control these emotions so that they do not cause you major losses.
Controlling emotions develops with the experience of trading and maturity. I remember I cried just because I lost $1. But, I don't have that feeling even if I lose a couple of hundred dollars because now I am more mature than before.
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Think of trading like fishing. You've got to have a good plan before you head out-know what bait to use, find the right spot, and don't rush. Just like you wouldn't spend all your savings on a fishing trip, don't put all your money into one trade. Keep learning the tricks of the trade, start small, and be patient. Write down what works and what doesn't, so you can get better over time. Basically, be smart, keep learning and don't risk more than you can afford to lose. That's how you keep your wallet happy in the long run.
I agree with what you say that before doing anything you have to have a plan, for trading there must always be something so that we have our strategies, from having the money ready to do trading as well as the number of operations to do per trading session, when I trade I divide it into 3 motives, if I win in the first one, then perfectly I do things as they are and wait the next day, if I see that I don't win the first movement, then I make the second movement with the money enough to recover the loss of the first one and come out positive, and if I do the 3 I must recover the loss of the first 2, if I can't do it I give up, because I know that I am not seeing the trading correctly, my vision market is very far from reality, and I have to change my analysis, strategies, even try to understand.
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I agree with what you say that before doing anything you have to have a plan, for trading there must always be something so that we have our strategies, from having the money ready to do trading as well as the number of operations to do per trading session, when I trade I divide it into 3 motives, if I win in the first one, then perfectly I do things as they are and wait the next day, if I see that I don't win the first movement, then I make the second movement with the money enough to recover the loss of the first one and come out positive, and if I do the 3 I must recover the loss of the first 2, if I can't do it I give up, because I know that I am not seeing the trading correctly, my vision market is very far from reality, and I have to change my analysis, strategies, even try to understand.
That's right, everything has to be planned well, if what you planned at the beginning doesn't match your expectations then you have to be ready with a backup plan, so never stop in the middle of the road, everything we want won't be easy to get, it's hard work. hard will give very satisfying results.
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I agree with what you say that before doing anything you have to have a plan, for trading there must always be something so that we have our strategies, from having the money ready to do trading as well as the number of operations to do per trading session, when I trade I divide it into 3 motives, if I win in the first one, then perfectly I do things as they are and wait the next day, if I see that I don't win the first movement, then I make the second movement with the money enough to recover the loss of the first one and come out positive, and if I do the 3 I must recover the loss of the first 2, if I can't do it I give up, because I know that I am not seeing the trading correctly, my vision market is very far from reality, and I have to change my analysis, strategies, even try to understand.
That's right, everything has to be planned well, if what you planned at the beginning doesn't match your expectations then you have to be ready with a backup plan, so never stop in the middle of the road, everything we want won't be easy to get, it's hard work. hard will give very satisfying results.
You would really be needing that back up plan because there are tons of variations or ways or possible paths on which this market could really be going and this is why it would really be that a bad idea that you would really be making yourself fixated into something or into your analysis believing that it is absolute, because on the time that you would really be having this kind of approach
then you are just that basically that making yourself putting into that huge disappointment and frustration once you have seen that your analysis had been dumped
by the market.You would really be that needing to be versatile as much as possible of course.
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I agree with what you say that before doing anything you have to have a plan, for trading there must always be something so that we have our strategies, from having the money ready to do trading as well as the number of operations to do per trading session, when I trade I divide it into 3 motives, if I win in the first one, then perfectly I do things as they are and wait the next day, if I see that I don't win the first movement, then I make the second movement with the money enough to recover the loss of the first one and come out positive, and if I do the 3 I must recover the loss of the first 2, if I can't do it I give up, because I know that I am not seeing the trading correctly, my vision market is very far from reality, and I have to change my analysis, strategies, even try to understand.
That's right, everything has to be planned well, if what you planned at the beginning doesn't match your expectations then you have to be ready with a backup plan, so never stop in the middle of the road, everything we want won't be easy to get, it's hard work. hard will give very satisfying results.
You would really be needing that back up plan because there are tons of variations or ways or possible paths on which this market could really be going and this is why it would really be that a bad idea that you would really be making yourself fixated into something or into your analysis believing that it is absolute, because on the time that you would really be having this kind of approach
then you are just that basically that making yourself putting into that huge disappointment and frustration once you have seen that your analysis had been dumped
by the market.You would really be that needing to be versatile as much as possible of course.
Well for me these things have always given me a lot to talk about, personally I have always said that when it comes to trading one has to have a very cool head, that is, if something doesn't work, I have to Solve it elsewhere , or wait, until you have the correct vision of the market , sometimes it is better to leave with a loss but understand why you lost and then go in with Everything to be able to win, that is my way of thinking, but always taking into consideration that I know What I am doing, the rest is not something that I consider so as not to have to do things as if it were gambling, Gambling in trading is the worst thing there is.
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I agree with what you say that before doing anything you have to have a plan, for trading there must always be something so that we have our strategies, from having the money ready to do trading as well as the number of operations to do per trading session, when I trade I divide it into 3 motives, if I win in the first one, then perfectly I do things as they are and wait the next day, if I see that I don't win the first movement, then I make the second movement with the money enough to recover the loss of the first one and come out positive, and if I do the 3 I must recover the loss of the first 2, if I can't do it I give up, because I know that I am not seeing the trading correctly, my vision market is very far from reality, and I have to change my analysis, strategies, even try to understand.
That's right, everything has to be planned well, if what you planned at the beginning doesn't match your expectations then you have to be ready with a backup plan, so never stop in the middle of the road, everything we want won't be easy to get, it's hard work. hard will give very satisfying results.
Even though we already have a plan at the beginning, we often change plans in the middle of the road, this is a common occurrence. When trading is the same, strategies can change but you must remain focused on the goal of trading, profit. And emotional management must also be maintained, don't be greedy
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The points mentioned are good and I think they are all needed to upgrade our trading skills so that we remain traders who are more careful and can make wise decisions.
Even though I am not a day trader, my experience of failure in cryptocurrency trading also has something to do with the points mentioned in this topic.
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As a newbie, don't make things get complicated for you at first place place, you will quite agreed that you're likely not going to be good at every sides being a beginner, so you should know and have it at the back of your mind that you're expected to learn and get used to the way things are been done, which will be also part of your learning experience, before you can be going dipper in complicated trades and pairs.
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I agree with what you say that before doing anything you have to have a plan, for trading there must always be something so that we have our strategies, from having the money ready to do trading as well as the number of operations to do per trading session, when I trade I divide it into 3 motives, if I win in the first one, then perfectly I do things as they are and wait the next day, if I see that I don't win the first movement, then I make the second movement with the money enough to recover the loss of the first one and come out positive, and if I do the 3 I must recover the loss of the first 2, if I can't do it I give up, because I know that I am not seeing the trading correctly, my vision market is very far from reality, and I have to change my analysis, strategies, even try to understand.
That's right, everything has to be planned well, if what you planned at the beginning doesn't match your expectations then you have to be ready with a backup plan, so never stop in the middle of the road, everything we want won't be easy to get, it's hard work. hard will give very satisfying results.
You would really be needing that back up plan because there are tons of variations or ways or possible paths on which this market could really be going and this is why it would really be that a bad idea that you would really be making yourself fixated into something or into your analysis believing that it is absolute, because on the time that you would really be having this kind of approach
then you are just that basically that making yourself putting into that huge disappointment and frustration once you have seen that your analysis had been dumped
by the market.You would really be that needing to be versatile as much as possible of course.
It is a fact that things with trading are quite risky and have to be carried out with the care that deserves it, we cannot invent that things can be very lucky, our backup plan can be very varied and as you say, something versatile, because in the moment there is a fundamental, that can Change everything, and for that a quick reaction is needed, therefore when we do not put ourselves to see a long-term analysis we can suffer in that way, when it is short-term term, I don't have much experience but it is something that can be very difficult to predict, maybe you have to be very glued to the PC but that is 100% adrenaline.
I always avoid that, because things can really be very Changeable, in Trading Anything can happen.
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Controlling emotions develops with the experience of trading and maturity. I remember I cried just because I lost $1. But, I don't have that feeling even if I lose a couple of hundred dollars because now I am more mature than before.
Maturity comes with knowledge and experience so if you carried for just 1$ at start then it means that was your first loss but now perhaps your wins are more than your loss that's why you don't care about your loss.
At first people didn't understand the market and little loss seems to be big for them and they have not got anything therefore losing their own money makes a person sad very easily.
With the passage of time when you become experienced with market conditions by examining the good and worse effects then your maturity increases because your mind will accept those things about which you know better.
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The things that OP has mentioned are quite important and work well. Because indeed, this fact has an influence on our trading. Especially when you are a beginner in trading, several things need to be emphasized again so that beginners don't just think about the high hopes of becoming successful in trading instantly and easily. Because we know, trading is difficult, and it is not easy to be successful in trading, especially for beginners. A high level of effort is needed to do this.
- Whenever you loose in trading, always return back to find out the reason why you failed.
- Do not depend on signal groups.
- Practice emotional control.
These three things seem to be very influential and often occur or are even encountered by us. The problem is that we often lose control, especially when we have just experienced defeat. Our emotional control is often poor when we are just beginning to learn trading. So instead of thinking about ways to return the loss to profits, it actually gets worse because of a bad mental condition. This is why emotional management and tough mental preparation and wise ethics are needed for trading.
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Some simple practices can help a newbie trader to quickly improve on his/her trading skills. some of these practices are very simple, can be done alone or best with another newbie trader who wants to become an expert trader. Some of these practices that I have observed are;
- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.
- Be consistent, and to encourage or learn consistency, you can start a 21 days trading challenge with a fellow newbie trader, or a trading challenge for as long as you want. If you do a challenge with someone, the person can encourage you when you feel like quitting from the challenge due to failed analysis or other reasons.
- Whenever you loose in trading, always return back to find out the reason why you failed.
- Do not depend on signal groups.
- Practice emotional control.
- Do not focus on too many cryptocurrency pairs.
- Join a community of traders.
These are a few, and I am sure there are more from other traders, please share to the benefit of us all.
- It was a very nice reminder for the traders. Everything you said is good; maybe I should just focus on controlling our emotions, because here many people lose quickly because of unexpected drops in the price value of the coins they hold. of a trader.
This is where the attack of our emotions often happens because of the sudden drop in value that causes anxiety or worry, which is not supposed to be like that, right?
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With the passage of time when you become experienced with market conditions by examining the good and worse effects then your maturity increases because your mind will accept those things about which you know better.
The point is, that maturity did not come in one day or a night. We had to spend time and make mistakes to improve ourselves. I had to be steady with what I did and find out the mistakes that caused the loss. So, when a trader comes to the market, they should know that there is another side as well and they have to be ready to face that.
No matter how well-trained a trader can be, it is almost impossible to predict the market correctly all the time. Even professional traders lose their trades for various reasons. It could be because of their mistake, or it could be for unexpected market movement. But you have to be ready for that.
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Certain strategies are very important to become an experienced trader. If a new trader I would say for him first he doesn't have anyone to help him then he must get all the trading related techniques and experience from demo trading and later he can come back to main trading. I originally did not use any demo trading to trade because someone close to me helped me a lot in teaching trading. But now I have gained a lot of experience in the trading platform because he taught me that among all the trading strategies, some of the strategies are to know the volatility of the market, not to be overly greedy in the trading platform and to be patient while trading. If a new trader or an old trader can follow these few trading strategies, he can definitely achieve success on the trading platform. All these strategies are important for everyone to follow as a trader.
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No matter how well-trained a trader can be, it is almost impossible to predict the market correctly all the time. Even professional traders lose their trades for various reasons. It could be because of their mistake, or it could be for unexpected market movement. But you have to be ready for that.
Having to be ready for everything that happens in trading is an awareness that will correct every mistake that occurs.
Professionals and beginners both have the opportunity to lose or profit, because what distinguishes them is only broader knowledge about trading.
Professional traders are better prepared with the strategies they are going to implement whereas beginners are still fumbling whether he or she entered at the right time, or they could profit or not.
Any mistake can happen, so professional traders have a backup strategy so it will help avoid more losses due to wrong predictions.
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Competition trading looks very cool it boost your mental state of trading to at least go for knowledge to stand strong and build up oneself to be able to defeat a fellow, at some point will increase your trading skills. One thing most traders don't understand is that when they developed themselves to learn and gain vast knowledge it would enhance their skills, though most skills can be effective when they go into live account since Demo is a kind of account that can be easily controlled and top up when it seems to be emptied. But with real account there will be carefulness and tension to protect one self from losing huge or keep losing, so when you mentioned competitive trading is a good way to go with.
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Professional traders are better prepared with the strategies they are going to implement whereas beginners are still fumbling whether he or she entered at the right time, or they could profit or not.
Professional has one advantage which is experience. They become professional by doing trade for a while. On the other hand, beginners do not have it which is a disadvantage for them. Beginners have to learn from their mistakes and their trades. I know that we all make mistakes, professionals make them as well. But they know what to do to recover their loss or to fix the problem. Most beginner traders get scared after making the mistakes.
There is a one strategy which can be followed by every traders no matter if they are professionals or not, which is to hold your position and wait patiently to see if you get back to the profit or not. But you should have backup funds for that.
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Professional traders are better prepared with the strategies they are going to implement whereas beginners are still fumbling whether he or she entered at the right time, or they could profit or not.
Professional has one advantage which is experience. They become professional by doing trade for a while. On the other hand, beginners do not have it which is a disadvantage for them. Beginners have to learn from their mistakes and their trades. I know that we all make mistakes, professionals make them as well. But they know what to do to recover their loss or to fix the problem. Most beginner traders get scared after making the mistakes.
There is a one strategy which can be followed by every traders no matter if they are professionals or not, which is to hold your position and wait patiently to see if you get back to the profit or not. But you should have backup funds for that.
You know for a beginner to turned into professional he must be active and go into knowledge, and the constants practices and regular trading makes someone to developed this professionalism in them whereas someone is not trading or that is having fear how do you think they would becomes professionals so easily without constant practices.
What I just understand is that we need to be determined on what we are doing otherwise it could be hard to carry out any action we have set out.
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To improve the trading we do, we have to keep practicing and of course this method requires a large amount of capital. As long as you want to learn trading, you have to keep doing it, never stop learning something new, until the time comes for everything you have done. learning will be useful for you and you will become a professional trader because you already have quite a lot of trading experience.
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To improve the trading we do, we have to keep practicing and of course this method requires a large amount of capital. As long as you want to learn trading, you have to keep doing it, never stop learning something new, until the time comes for everything you have done. learning will be useful for you and you will become a professional trader because you already have quite a lot of trading experience.
You are right to become a professional trader requires long experience and of course sufficient capital because we have to learn from all the mistakes and losses in the past. This is what is called sacrifice to become an expert.
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Some simple practices can help a newbie trader to quickly improve on his/her trading skills. some of these practices are very simple, can be done alone or best with another newbie trader who wants to become an expert trader. Some of these practices that I have observed are;
- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.
- Be consistent, and to encourage or learn consistency, you can start a 21 days trading challenge with a fellow newbie trader, or a trading challenge for as long as you want. If you do a challenge with someone, the person can encourage you when you feel like quitting from the challenge due to failed analysis or other reasons.
- Whenever you loose in trading, always return back to find out the reason why you failed.
- Do not depend on signal groups.
- Practice emotional control.
- Do not focus on too many cryptocurrency pairs.
- Join a community of traders.
These are a few, and I am sure there are more from other traders, please share to the benefit of us all.
- It was a very nice reminder for the traders. Everything you said is good; maybe I should just focus on controlling our emotions, because here many people lose quickly because of unexpected drops in the price value of the coins they hold. of a trader.
This is where the attack of our emotions often happens because of the sudden drop in value that causes anxiety or worry, which is not supposed to be like that, right?
Contrling your emotion is not easy, especially when you have already made little profit and you didn't close the trade, and after some minutes the market goes the opposite. Greed, and using a big amount of money to open a trade, can make one emotions in stable when you loss in that trade. This is why you should only use a little amount of money to trade, and don't enter the market when you don't understand the market.
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The point is, that maturity did not come in one day or a night. We had to spend time and make mistakes to improve ourselves. I had to be steady with what I did and find out the mistakes that caused the loss. So, when a trader comes to the market, they should know that there is another side as well and they have to be ready to face that.
No matter how well-trained a trader can be, it is almost impossible to predict the market correctly all the time. Even professional traders lose their trades for various reasons. It could be because of their mistake, or it could be for unexpected market movement. But you have to be ready for that.
Maturity comes with increasing experience and experience needs time and sacrifices so people will must sacrifice their money and if they lose then they have to think about the future not about the past but they should use their part for learning to make their future amazing.
If they are making mistakes then it's normal but if they are continuously repeating such mistakes then it is their fault which will not fix until they want to fix it. The market is unpredictable and because of such unpredictability traders often make huge profit from it but this is true for only experts while newbies will just not understand this unpredictable market easily.
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Contrling your emotion is not easy, especially when you have already made little profit and you didn't close the trade, and after some minutes the market goes the opposite. Greed, and using a big amount of money to open a trade, can make one emotions in stable when you loss in that trade. This is why you should only use a little amount of money to trade, and don't enter the market when you don't understand the market.
Exactly, as you said, we really have to control our emotions well to be able to control the money we have, sometimes when market conditions are collapsing we can panic and sell the assets we have at cheap prices, even though usually when the price collapses it will come back. bounced up. The risk when using money that will be used in the near future for trading is that the assets we use could run out instantly or we might get stuck at high prices.
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If all traders, especially beginners, had and were willing to think about all this, I am sure that many traders would still have the potential to get their best results and get profits. However, in fact, beginners, especially, actually miss several things which make us sometimes become careless traders. In this case, being someone who actually loses a lot of money because after all, trading without knowledge, without consideration, and without good and thorough analysis will usually be a disaster for them.
And unfortunately, many beginners actually think that trading is easy and can make you rich instantly. In fact, this is a somewhat correct initial thought. Maybe for professional traders, it will be successful, but it all also requires a process and it is not simple. But sometimes people only see what's good, so it makes us lose easily.
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Some simple practices can help a newbie trader to quickly improve on his/her trading skills. some of these practices are very simple, can be done alone or best with another newbie trader who wants to become an expert trader. Some of these practices that I have observed are;
- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.
Well, you are right. Demo trading is a good way to practice trading and gain experience especially for newbies. Without knowing about trading and you start it then you are more likely to suffer losses. Some people do trade without gaining experience. Maybe they can afford to loose.
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Since trading is directly related to money, it certainly carries great risks. So a newbie must take training before starting trading. There are many traders who are not willing to do demo trading. They are also willing to lose to learn. Because they do not consider the money used for learning as loss. Currently for learning and as a newbie who wants to earn he can earn there by copy trading though there is no guarantee that he will profit there. If the trader follows a successful or experienced trader then he can learn trading very quickly.
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Since trading is directly related to money, it certainly carries great risks. So a newbie must take training before starting trading. There are many traders who are not willing to do demo trading. They are also willing to lose to learn. Because they do not consider the money used for learning as loss. Currently for learning and as a newbie who wants to earn he can earn there by copy trading though there is no guarantee that he will profit there. If the trader follows a successful or experienced trader then he can learn trading very quickly.
Yeah you're right, but at the same time I feel them. When I was new in trading, because of the wrong belief that trading can make you rich quick, I directly enter into live trade instead of doing a back test or forward testing. As a result, I experience losing money even though I lose 1$ in a trade but if we combine the loses that you make it weighs a lot. This was the mistake that I made in trading before that might possible to happen to new traders.
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]I think the best demo practice account is Metatrader app. When he has mastered the Metatrader then he can practice the live trading with small funds and from there gradually improve to the expert stage of trading. Op your list is good for newbies in trading and also a reminder and instructions to other traders. Any trader that like to succeed in trading must practice those instructions.
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Some simple practices can help a newbie trader to quickly improve on his/her trading skills. some of these practices are very simple, can be done alone or best with another newbie trader who wants to become an expert trader. Some of these practices that I have observed are;
- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.
- Be consistent, and to encourage or learn consistency, you can start a 21 days trading challenge with a fellow newbie trader, or a trading challenge for as long as you want. If you do a challenge with someone, the person can encourage you when you feel like quitting from the challenge due to failed analysis or other reasons.
- Whenever you loose in trading, always return back to find out the reason why you failed.
- Do not depend on signal groups.
- Practice emotional control.
- Do not focus on too many cryptocurrency pairs.
- Join a community of traders.
These are a few, and I am sure there are more from other traders, please share to the benefit of us all.
- Thanks for the good reminders you made, mate. It will give good ideas and knowledge to everyone, especially the newbies who will enter the crypto space
that we belong to.
Actually, I do all the things you mentioned, and I also do the others that don't exist. Demo trading is good to use if, for example, someone wants to learn to do futures trading, and it's also right that there shouldn't be too many pairs we do in trading activity.
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Some simple practices can help a newbie trader to quickly improve on his/her trading skills. some of these practices are very simple, can be done alone or best with another newbie trader who wants to become an expert trader. Some of these practices that I have observed are;
- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.
- Be consistent, and to encourage or learn consistency, you can start a 21 days trading challenge with a fellow newbie trader, or a trading challenge for as long as you want. If you do a challenge with someone, the person can encourage you when you feel like quitting from the challenge due to failed analysis or other reasons.
- Whenever you loose in trading, always return back to find out the reason why you failed.
- Do not depend on signal groups.
- Practice emotional control.
- Do not focus on too many cryptocurrency pairs.
- Join a community of traders.
These are a few, and I am sure there are more from other traders, please share to the benefit of us all.
You told appropriate. I am agree with you. For New traders At first should trade on demo account. Demo account is Best for practices trading. And if anyone trade real account without practice on demo account he will be losser there has no doubt.
And it also true that, for trading we have to follow some rules, like we have to know how to control emotion. And also know about money management. And mainly practice and practice to trade.
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Practice makes a person much more experienced in that regard. The more you practice, the easier it will become for you. You need enough practice where you are playing sports as well as you are studying to do well in studies you need enough practice you have to work hard in every field and the more you practice the more you work the easier it will be for you. In the case of trading, if we have acquired a little idea, but our idea will be limited to that little thing, so we have to do enough practice to expand our idea, as well as we have to try to gain knowledge from all other means. The more we try to learn and the more we practice what we know, the greater our knowledge will be.
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If all traders, especially beginners, had and were willing to think about all this, I am sure that many traders would still have the potential to get their best results and get profits. However, in fact, beginners, especially, actually miss several things which make us sometimes become careless traders. In this case, being someone who actually loses a lot of money because after all, trading without knowledge, without consideration, and without good and thorough analysis will usually be a disaster for them.
And unfortunately, many beginners actually think that trading is easy and can make you rich instantly. In fact, this is a somewhat correct initial thought. Maybe for professional traders, it will be successful, but it all also requires a process and it is not simple. But sometimes people only see what's good, so it makes us lose easily.
If only all traders could understand what OP did, it is for sure that most individual traders would be able to make a profit here. That's why most traders don't understand what OP said on the topic he raised.
Only those who know and have a deep understanding can do this in reality. Though everything Op says is good in this matter, honestly speaking,.
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To improve the trading we do, we have to keep practicing and of course this method requires a large amount of capital. As long as you want to learn trading, you have to keep doing it, never stop learning something new, until the time comes for everything you have done. learning will be useful for you and you will become a professional trader because you already have quite a lot of trading experience.
First trader must learn the basics and then for practicing his learned knowledge he has to use lots of money because sometimes he will lose and sometimes he will win and from both of the situations he will learn something new.
Each time you learn new things and as current halving is different from that of previous halving so here traders will learn innovative things which will be helpful for them in future. Nobody can say that his knowledge has become completed because technology is continuously developing and you will see new things always therefore don't stop learning and if possible then use the minimum amount to practice already learnt materials.
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I see first advice in the list is practicing in demo account, but I dont it is worth spending a lot of time on it. It isnt hard to get familiar with what each button on exchange page does and what is where in UI. I dont know why, but all my experience with demo accounts or demo gambling is me always winning or ending with profit. But as soon as I switch to "real money", my trades become ineffective or unprofitable, even though I am doing all the same. Or lets take other advice - when you fail in trading, return and search why you have failed. I have bought dogecoin few years ago. Now its price is lower. Its price never grew significantly. What is my mistake? Bought it on wrong time? But what was correct then? Nobody cant predict where is bottom.
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I see first advice in the list is practicing in demo account, but I dont it is worth spending a lot of time on it. It isnt hard to get familiar with what each button on exchange page does and what is where in UI. I dont know why, but all my experience with demo accounts or demo gambling is me always winning or ending with profit. But as soon as I switch to "real money", my trades become ineffective or unprofitable, even though I am doing all the same. Or lets take other advice - when you fail in trading, return and search why you have failed. I have bought dogecoin few years ago. Now its price is lower. Its price never grew significantly. What is my mistake? Bought it on wrong time? But what was correct then? Nobody cant predict where is bottom.
Demo trading or demo accounts not only let you understand the functionalities of a platform or what each button does, but you can use a demo account to practice your trading experience such as reading charts, using indicators to predict the future outcomes of each cryptocurrency, and practicing the strategies that you have learned so that you can use those strategies when you start making real trades.
A demo account might not make you perfect, but it will at least make you better in terms of utilizing multiple features and techniques that you can use as a trader in the future, and it will save you from unnecessary losses that you might incur if you start trading immediately without any practice.
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I see first advice in the list is practicing in demo account, but I dont it is worth spending a lot of time on it. It isnt hard to get familiar with what each button on exchange page does and what is where in UI. I dont know why, but all my experience with demo accounts or demo gambling is me always winning or ending with profit. But as soon as I switch to "real money", my trades become ineffective or unprofitable, even though I am doing all the same. Or lets take other advice - when you fail in trading, return and search why you have failed. I have bought dogecoin few years ago. Now its price is lower. Its price never grew significantly. What is my mistake? Bought it on wrong time? But what was correct then? Nobody cant predict where is bottom.
Demo trading or demo accounts not only let you understand the functionalities of a platform or what each button does, but you can use a demo account to practice your trading experience such as reading charts, using indicators to predict the future outcomes of each cryptocurrency, and practicing the strategies that you have learned so that you can use those strategies when you start making real trades.
A demo account might not make you perfect, but it will at least make you better in terms of utilizing multiple features and techniques that you can use as a trader in the future, and it will save you from unnecessary losses that you might incur if you start trading immediately without any practice.
Ok, I have spend 5 minutes maximum to understand how each and everything works on exchange. I have played with demo account and became an adept of trading, who closes every order with profit. But why when I switch to real trading, everything is different? In short, in demo mode, everything most of the time goes up. This rarely happen IRL. I mean what can I train for a long time, if the best strategy is "buy low sell high" and all I have to do is to wait for price to grow. Demo accounts does not teach patience. Crypto world news and announcements does not influence on demo account. So why then give so much attention to it?
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Demo trading or demo accounts not only let you understand the functionalities of a platform or what each button does, but you can use a demo account to practice your trading experience such as reading charts, using indicators to predict the future outcomes of each cryptocurrency, and practicing the strategies that you have learned so that you can use those strategies when you start making real trades.
A demo account might not make you perfect, but it will at least make you better in terms of utilizing multiple features and techniques that you can use as a trader in the future, and it will save you from unnecessary losses that you might incur if you start trading immediately without any practice.
I agree more with those of you who suggest trading directly without having to try first. In fact, if your budget for trading is very small, you can use a small amount of funds first and think of it as a cost of learning to understand the world of trading. whatever the outcome, you will still learn valuable lessons from every decision you make, therefore you will grow and develop when you are ready to develop and grow.
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I agree more with those of you who suggest trading directly without having to try first. In fact, if your budget for trading is very small, you can use a small amount of funds first and think of it as a cost of learning to understand the world of trading. whatever the outcome, you will still learn valuable lessons from every decision you make, therefore you will grow and develop when you are ready to develop and grow.
Trading directly using limited funds and it will be an experience that will make one learn how to trade well.
But after all the theory is also necessary even if it is only basic, because without theory trading will not find its point of achievement.
When some theory is applied and trading directly is done then this will provide good knowledge and experience.
I also do that and try to understand theories or techniques of analysis and fundamentals and hone my psychology.
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I agree more with those of you who suggest trading directly without having to try first. In fact, if your budget for trading is very small, you can use a small amount of funds first and think of it as a cost of learning to understand the world of trading. whatever the outcome, you will still learn valuable lessons from every decision you make, therefore you will grow and develop when you are ready to develop and grow.
Trading directly using limited funds and it will be an experience that will make one learn how to trade well.
But after all the theory is also necessary even if it is only basic, because without theory trading will not find its point of achievement.
When some theory is applied and trading directly is done then this will provide good knowledge and experience.
I also do that and try to understand theories or techniques of analysis and fundamentals and hone my psychology.
Learning trading is a good thing when investing in the crypto world. I also tried to learn some trading analysis and practice controlling emotions when trading, but experienced several failures because sometimes greed makes us unable to make rational decisions..
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Learning trading is a good thing when investing in the crypto world. I also tried to learn some trading analysis and practice controlling emotions when trading, but experienced several failures because sometimes greed makes us unable to make rational decisions..
Failure is the beginning of it all, when you diligently learn and know how the crypto market works,
you will understand more and more not to make the same mistakes.
Technical analysis also needs to be balanced with fundamental analysis, because fundamentals are also very influential for the crypto market.
Study each indicator and use the one that you find easy and suitable for your trading style.
Do not force using all indicators, maybe you only need to combine several indicators.
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I agree more with those of you who suggest trading directly without having to try first. In fact, if your budget for trading is very small, you can use a small amount of funds first and think of it as a cost of learning to understand the world of trading. whatever the outcome, you will still learn valuable lessons from every decision you make, therefore you will grow and develop when you are ready to develop and grow.
Trading directly using limited funds and it will be an experience that will make one learn how to trade well.
But after all the theory is also necessary even if it is only basic, because without theory trading will not find its point of achievement.
When some theory is applied and trading directly is done then this will provide good knowledge and experience.
I also do that and try to understand theories or techniques of analysis and fundamentals and hone my psychology.
Learning trading is a good thing when investing in the crypto world. I also tried to learn some trading analysis and practice controlling emotions when trading, but experienced several failures because sometimes greed makes us unable to make rational decisions..
Patience is indeed a very important key when you trade, make sure you have plenty of time to see the condition of coin price movements in the market, you must have plenty of time to monitor coin price movements in the market so you don't make the wrong decision.
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I agree more with those of you who suggest trading directly without having to try first. In fact, if your budget for trading is very small, you can use a small amount of funds first and think of it as a cost of learning to understand the world of trading. whatever the outcome, you will still learn valuable lessons from every decision you make, therefore you will grow and develop when you are ready to develop and grow.
Trading directly using limited funds and it will be an experience that will make one learn how to trade well.
But after all the theory is also necessary even if it is only basic, because without theory trading will not find its point of achievement.
When some theory is applied and trading directly is done then this will provide good knowledge and experience.
I also do that and try to understand theories or techniques of analysis and fundamentals and hone my psychology.
Learning trading is a good thing when investing in the crypto world. I also tried to learn some trading analysis and practice controlling emotions when trading, but experienced several failures because sometimes greed makes us unable to make rational decisions..
Patience is indeed a very important key when you trade, make sure you have plenty of time to see the condition of coin price movements in the market, you must have plenty of time to monitor coin price movements in the market so you don't make the wrong decision.
Patience is indeed needed or something crucial because dealing up with unpredictable prices is something that cant really be easily be done up by someone. You would really be needing up that kind of good emotion handling specially your patience and this isnt something that will really be that a walk in the park even if it sounds too pretty basic.
But of course too much patience could really be having that disadvantage too on which you could potentially missed out on selling on the peak and ending up on holding even further longer
and its not something that we dont really like to experience on. So better be wise on making up those selling points.
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You can't really "practice" patience, because it is not something that can be learned to do by reading something, you learn it by doing it, the more patient you stay, and not sell or do anything wrong, the better you become at it. I wasn't that great neither, in fact my early very first trades were all mistakes, literally technical mistakes, and I assumed exchange stole my money, and it was such a tiny amount as well. In the end nothing weird happened and the money was credited, and I still lost it at trading. But today? I can keep my coins for 20 years without selling (if I do not need it for something important) no matter what the price is, because you learn it with time.
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Failure is the beginning of it all, when you diligently learn and know how the crypto market works,
you will understand more and more not to make the same mistakes.
Technical analysis also needs to be balanced with fundamental analysis, because fundamentals are also very influential for the crypto market.
Study each indicator and use the one that you find easy and suitable for your trading style.
Do not force using all indicators, maybe you only need to combine several indicators.
That is what I did over the past few months having multiple trading indicators I thought would help predict the next price action but having multiple indicators would just give you confusion and I just realized that you should focus only on 2 or 3 indicators for validation and it depends on what type of trader you are.
In my experience for intraday, I got more losses than wins in intraday fundamental analysis wouldn't work it is pure technical unless if we only trade for the long term because you can react right away and exit when your fundamental analysis pointing to bearish season unlike in day trading the price action is pretty fast and you can't react right away. I learned from my losses this month I see how difficult day trading is I don't know how these intraday people make money on a daily basis or maybe my strategy still needs a bit of improvement?
The only problem is I heard that only 100 out of 7 can be successful in day trading this is the reason that pushes me to stop day trading and focus instead on weekly or monthly because it is far from spikes and manipulation than 1m, 5m, or 15m time frame. bigger picture shows you a better pattern and you can react right away than trading on a very fast price action.
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Patience is indeed needed or something crucial because dealing up with unpredictable prices is something that cant really be easily be done up by someone. You would really be needing up that kind of good emotion handling specially your patience and this isnt something that will really be that a walk in the park even if it sounds too pretty basic.
But of course too much patience could really be having that disadvantage too on which you could potentially missed out on selling on the peak and ending up on holding even further longer
and its not something that we dont really like to experience on. So better be wise on making up those selling points.
That's where the importance of selling targets must be determined from the start, whether based on time or based on profit percentage. If you keep waiting without a target, sometimes you just miss the right moment. Apart from that, there are also several impacts of greed, where there will also be moments that are missed, making a holder have to wait longer for that moment to come again.
The point is, don't be greedy when you become a holder... make sure you have a target for selling assets, before the moment you want passes you by.
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I agree more with those of you who suggest trading directly without having to try first. In fact, if your budget for trading is very small, you can use a small amount of funds first and think of it as a cost of learning to understand the world of trading. whatever the outcome, you will still learn valuable lessons from every decision you make, therefore you will grow and develop when you are ready to develop and grow.
Trading directly using limited funds and it will be an experience that will make one learn how to trade well.
But after all the theory is also necessary even if it is only basic, because without theory trading will not find its point of achievement.
When some theory is applied and trading directly is done then this will provide good knowledge and experience.
I also do that and try to understand theories or techniques of analysis and fundamentals and hone my psychology.
Learning trading is a good thing when investing in the crypto world. I also tried to learn some trading analysis and practice controlling emotions when trading, but experienced several failures because sometimes greed makes us unable to make rational decisions..
Patience is indeed a very important key when you trade, make sure you have plenty of time to see the condition of coin price movements in the market, you must have plenty of time to monitor coin price movements in the market so you don't make the wrong decision.
Patience is indeed needed or something crucial because dealing up with unpredictable prices is something that cant really be easily be done up by someone. You would really be needing up that kind of good emotion handling specially your patience and this isnt something that will really be that a walk in the park even if it sounds too pretty basic.
But of course too much patience could really be having that disadvantage too on which you could potentially missed out on selling on the peak and ending up on holding even further longer
and its not something that we dont really like to experience on. So better be wise on making up those selling points.
If we cannot control the patience we have then of course it will make us suffer losses and lose a lot of money, therefore we must be able to control our emotions well and never be influenced by the market situation which is currently unstable.
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Practices makes a man perfect. Without Proper practice no one can't success in any sector. Trading is also very critical to all of us. But many people coming here and Trading without and practice.
I think without proper knowledge and Practice anyone cannot profit and they lost his valuable fund and they comes away from trading. So i will tell everyone for trading practices is important and i will tell do proper practices.
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Demo trading for newbies. I know that a lot of people do not look at that as something good, but that is exactly what you should be looking at. I personally believe that the best thing to do in this case would be to learn how to trade from a demo account. If you could do that, you could get better with time, it's going to be something special for you. I believe that the best way to go further would be just to arrange a system that works at demo trading before you start to go towards better results. In the end, if you could get what you want at a demo, then there is a possibility you could do it in real life, but if you fail at the demo then you will definitely fail in real life.
New traders can learn the basics through demo trading but I don't believe that those who are already involved in trading will be able to improve their performance by using a demo account. Because demo account has fake money where there is no risk. If someone practice trading using demo account then they will lose huge amount in real trading world. Because they will not hesitate to use large amount of money in demo even during real trading. Because then the small amount will not be comfortable for him
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Practices makes a man perfect. Without Proper practice no one can't success in any sector. Trading is also very critical to all of us. But many people coming here and Trading without and practice.
I think without proper knowledge and Practice anyone cannot profit and they lost his valuable fund and they comes away from trading. So i will tell everyone for trading practices is important and i will tell do proper practices.
Practicing is the second step and the first step is to get knowledge therefore try to achieve knowledge from different sites and different sources and then practice this knowledge with a small amount of money you have. In such conditions you must learn but learning will be of two types either you will learn that your attained knowledge is accurate or will learn from your mistakes.
If you get success in practicing your trade then you can use a huge amount but at start I will say that don't make mistakes by using huge amounts of money. Everyone cannot get success in trading because they rushes towards success as a result of which they leave certain knowledge to learn therefore little knowledge becomes dangerous for them.
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Practices makes a man perfect. Without Proper practice no one can't success in any sector. Trading is also very critical to all of us. But many people coming here and Trading without and practice.
I think without proper knowledge and Practice anyone cannot profit and they lost his valuable fund and they comes away from trading. So i will tell everyone for trading practices is important and i will tell do proper practices.
First, they must have knowledge about trading and that concerns everything, apart from that, they must start practicing it because we cannot deny that practicing it is more complicated than just reading books or watching videos, or in other words just theorizing.
We have to study all this seriously, and it will definitely take a long time. If we want to master it in a short time, then that seems impossible, unless we really have very high intelligence.
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I agree more with those of you who suggest trading directly without having to try first. In fact, if your budget for trading is very small, you can use a small amount of funds first and think of it as a cost of learning to understand the world of trading. whatever the outcome, you will still learn valuable lessons from every decision you make, therefore you will grow and develop when you are ready to develop and grow.
Trading directly using limited funds and it will be an experience that will make one learn how to trade well.
But after all the theory is also necessary even if it is only basic, because without theory trading will not find its point of achievement.
When some theory is applied and trading directly is done then this will provide good knowledge and experience.
I also do that and try to understand theories or techniques of analysis and fundamentals and hone my psychology.
Learning trading is a good thing when investing in the crypto world. I also tried to learn some trading analysis and practice controlling emotions when trading, but experienced several failures because sometimes greed makes us unable to make rational decisions..
Patience is indeed a very important key when you trade, make sure you have plenty of time to see the condition of coin price movements in the market, you must have plenty of time to monitor coin price movements in the market so you don't make the wrong decision.
Patience is indeed needed or something crucial because dealing up with unpredictable prices is something that cant really be easily be done up by someone. You would really be needing up that kind of good emotion handling specially your patience and this isnt something that will really be that a walk in the park even if it sounds too pretty basic.
But of course too much patience could really be having that disadvantage too on which you could potentially missed out on selling on the peak and ending up on holding even further longer
and its not something that we dont really like to experience on. So better be wise on making up those selling points.
If we cannot control the patience we have then of course it will make us suffer losses and lose a lot of money, therefore we must be able to control our emotions well and never be influenced by the market situation which is currently unstable.
Easy to say but would really be that so damn hard for you to do such thing or specially on the moment that you are already that on such situation on which it would really be that too hard for you to have such control. We do know that when it comes to the situation on where you would really be that trying out to have that moderation with your emotion but since we are losing money with our trades then we would really be having that normal reaction on which we do become that impulsive. Trading with volatile market will really be giving out that kind of such emotion
on which it would really be that so damn hard to control. Experience would be your main edge compared with other traders as well.
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Practices makes a man perfect. Without Proper practice no one can't success in any sector. Trading is also very critical to all of us. But many people coming here and Trading without and practice.
I think without proper knowledge and Practice anyone cannot profit and they lost his valuable fund and they comes away from trading. So i will tell everyone for trading practices is important and i will tell do proper practices.
Exactly, that's why sometimes exchanges provide tutorials or demo accounts that can be used for new traders to try out some good and correct trading methods. To become a good trader and always have a fairly high level of accuracy will require a large amount of money which is spent on practice.
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Practices makes a man perfect. Without Proper practice no one can't success in any sector. Trading is also very critical to all of us. But many people coming here and Trading without and practice.
I think without proper knowledge and Practice anyone cannot profit and they lost his valuable fund and they comes away from trading. So i will tell everyone for trading practices is important and i will tell do proper practices.
First, they must have knowledge about trading and that concerns everything, apart from that, they must start practicing it because we cannot deny that practicing it is more complicated than just reading books or watching videos, or in other words just theorizing.
We have to study all this seriously, and it will definitely take a long time. If we want to master it in a short time, then that seems impossible, unless we really have very high intelligence.
Yes for trading we have to study seriously and definatly it will be for long time. Study and practice cam make a person as a good trader. To be a good trader need more and more practice. So we know that many exchanger started demo trading system for practice. I think you told perfect.
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I agree more with those of you who suggest trading directly without having to try first. In fact, if your budget for trading is very small, you can use a small amount of funds first and think of it as a cost of learning to understand the world of trading. whatever the outcome, you will still learn valuable lessons from every decision you make, therefore you will grow and develop when you are ready to develop and grow.
Trading directly using limited funds and it will be an experience that will make one learn how to trade well.
But after all the theory is also necessary even if it is only basic, because without theory trading will not find its point of achievement.
When some theory is applied and trading directly is done then this will provide good knowledge and experience.
I also do that and try to understand theories or techniques of analysis and fundamentals and hone my psychology.
Learning trading is a good thing when investing in the crypto world. I also tried to learn some trading analysis and practice controlling emotions when trading, but experienced several failures because sometimes greed makes us unable to make rational decisions..
Our teacher always told us that you should keep learning every moment of your life and never think that your education is done. I still remember my teacher's words and I still use his words to tell others that there is no end to learning. A person has enough knowledge about trading but if he thinks that he has enough knowledge that he doesn't need more knowledge then he will fall behind others. I have enough idea that I should mature this idea more and so that I can turn this idea into my confidence and apply my skill to do that job. So we have to learn and try to learn in future.
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I agree more with those of you who suggest trading directly without having to try first. In fact, if your budget for trading is very small, you can use a small amount of funds first and think of it as a cost of learning to understand the world of trading. whatever the outcome, you will still learn valuable lessons from every decision you make, therefore you will grow and develop when you are ready to develop and grow.
Trading directly using limited funds and it will be an experience that will make one learn how to trade well.
But after all the theory is also necessary even if it is only basic, because without theory trading will not find its point of achievement.
When some theory is applied and trading directly is done then this will provide good knowledge and experience.
I also do that and try to understand theories or techniques of analysis and fundamentals and hone my psychology.
Learning trading is a good thing when investing in the crypto world. I also tried to learn some trading analysis and practice controlling emotions when trading, but experienced several failures because sometimes greed makes us unable to make rational decisions..
Our teacher always told us that you should keep learning every moment of your life and never think that your education is done. I still remember my teacher's words and I still use his words to tell others that there is no end to learning. A person has enough knowledge about trading but if he thinks that he has enough knowledge that he doesn't need more knowledge then he will fall behind others. I have enough idea that I should mature this idea more and so that I can turn this idea into my confidence and apply my skill to do that job. So we have to learn and try to learn in future.
In life then learning is really that a never ending thing then how much more in trading on which market variations would really be that different from time to time. There's no way that it would really be fixed on which it would really be just that normal that you would really be needing up to consider yourself on being versatile and would really be that easy to adapt on things because if you dont then you would really be finding hard to sustain yourself into this space. This is why it would really be that important that you should really know on what you are doing.
You might be good at theories but other learnings could really be only acquired through real experience or dealing up with the market.
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First, they must have knowledge about trading and that concerns everything, apart from that, they must start practicing it because we cannot deny that practicing it is more complicated than just reading books or watching videos, or in other words just theorizing.
We have to study all this seriously, and it will definitely take a long time. If we want to master it in a short time, then that seems impossible, unless we really have very high intelligence.
Yes for trading we have to study seriously and definatly it will be for long time. Study and practice cam make a person as a good trader. To be a good trader need more and more practice. So we know that many exchanger started demo trading system for practice. I think you told perfect.
Usually more people will eventually give up on the process they are doing, because long periods of time sometimes make us bored and that will encourage us to stop, so a strong mentality is also really needed when we learn.
We usually want to get things very quickly, and that is human nature. This is something we have to fight against, because it usually tends to dominate our minds.
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Usually more people will eventually give up on the process they are doing, because long periods of time sometimes make us bored and that will encourage us to stop, so a strong mentality is also really needed when we learn.
We usually want to get things very quickly, and that is human nature. This is something we have to fight against, because it usually tends to dominate our minds.
Before investment a person should have complete knowledge that without holding longer he cannot be successful in getting his aim so he will not be bored when he trusts his hold coins as well as examining the market changes which will lead to his target value.
An extra amount, a brilliant mind full of knowledge and patience can help you to keep your coin holding so if you have these qualities then nothing can make you bored.
It is human nature that he desires to earn quickly without waiting for proper timing but this is the term greed and I never saw a person with greedy thoughts who succeeded in his work and you will be similar that those become professional traders or investors who use knowledge instead of prefering their greed.
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Usually more people will eventually give up on the process they are doing, because long periods of time sometimes make us bored and that will encourage us to stop, so a strong mentality is also really needed when we learn.
We usually want to get things very quickly, and that is human nature. This is something we have to fight against, because it usually tends to dominate our minds.
Between holding and trading, people tend to runaway from the two quicker than we expect most especially the newbies because they don't have what crypto need. They lack patience to hold and patience to trade, they just think you can plug money from this space and become a millionaire over night but this things take times. Sometimes, I do have thought about teaching people how to be patience before putting money into crypto, it will help them navigate through any negative thoughts of abandoning crypto when they experienced small loss.
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I still quite emphasis on demo trading as one of the best ways. I get that people do not like it, but I have been doing it for nearly 10 years, probably more and it has helped me a lot. I have started demo trading at stocks actually, way before crypto and its really a good way. It allows you to learn the ways and when you feel like you are ready then you can do it. Seeing this many people thinking that demo isn't helpful makes me sad, maybe people are using it the wrong way I do not know, but you should know that its not really that bad and you should be getting something good in return, you learn by using that.
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I still quite emphasis on demo trading as one of the best ways. I get that people do not like it, but I have been doing it for nearly 10 years, probably more and it has helped me a lot. I have started demo trading at stocks actually, way before crypto and its really a good way. It allows you to learn the ways and when you feel like you are ready then you can do it. Seeing this many people thinking that demo isn't helpful makes me sad, maybe people are using it the wrong way I do not know, but you should know that its not really that bad and you should be getting something good in return, you learn by using that.
Actually, there is nothing with the use of demo trading, instead it helps to hone analytical skills and apply trading strategies before making real trades in the market.
This is a trial and error that needs to be done, but don't just be fascinated and at home with demo trading,
occasionally you have to make real trades to test your trading mentality, so that trading psychology will be formed.
Do not have to use large funds, just with a little money you have, then you can apply to real trading.
I did all the trading self-taught and started with demo trading, then started with real trading and it made me continue to learn how to do technical and fundamental analysis and learn to manage trading psychology during market pump and dump.
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Between holding and trading, people tend to runaway from the two quicker than we expect most especially the newbies because they don't have what crypto need. They lack patience to hold and patience to trade, they just think you can plug money from this space and become a millionaire over night but this things take times. Sometimes, I do have thought about teaching people how to be patience before putting money into crypto, it will help them navigate through any negative thoughts of abandoning crypto when they experienced small loss.
I believe that each investor is suited for a specific activity in the market: holding or trading. Both holders and traders can earn significant profits in this market, as long as they have sufficient experience in market analysis and risk management. Shitcoin holders can also suffer losses, while highly disciplined traders can still achieve huge profits. The difference between losses and profits is created by experience, and experience only comes from the time that investors spend in the market, and it goes hand in hand with patience as you mentioned.
Typically, investors often FOMO and rush into investments to make a profit. They usually only start to take it more seriously when they suffer losses and see the harsh realities of this market. They have paid a high price to understand that this market not only has opportunities but also risks, and they are not lucky enough to get rich in the crypto market.
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I have did with all step above but can running smoothly and always get failed, I am interested with trading challenge and has limitation around one week should earn profit around $500 to $1000. Firstly is running well and the first week my challenge success get profit almost raise $1k but on second week get problem how easily my coins trading drop drastically, not use feature stop loss and should be long term holder without unpredictable when recovering of my altcoin or bitcoin assets.
Need to deposit another fresh money and forget with some coins assets dropping, but I doubt will get the same with my last capital just taking profit in the firstly week than loss?
Thats what makes trading as a hard thing and not something that could really be that easily be able to handle by any trader on their first tries or on the moment that they would be deciding on dealing up with trading or simply with this volatile market. You cant really just that make yourself that easily become that too good or something profitable on the moment that you would be doing trading. It would really be taking up some time before you would be able to have a good grasps in the market on which it would really be that understandable that loses would really be part of learning. There are really just those people who are really that expecting too much on things.
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I believe that each investor is suited for a specific activity in the market: holding or trading. Both holders and traders can earn significant profits in this market, as long as they have sufficient experience in market analysis and risk management. Shitcoin holders can also suffer losses, while highly disciplined traders can still achieve huge profits. The difference between losses and profits is created by experience, and experience only comes from the time that investors spend in the market, and it goes hand in hand with patience as you mentioned.
Typically, investors often FOMO and rush into investments to make a profit. They usually only start to take it more seriously when they suffer losses and see the harsh realities of this market. They have paid a high price to understand that this market not only has opportunities but also risks, and they are not lucky enough to get rich in the crypto market.
Holders or investors I don't think they have a risk management skills most of what I know they are risk takers they invest randomly into any project without DYOR or any fundamental analysis that is the one thing that I heard from them but as they said they earn more from the long term holding even the other coins or shitcoins they hold never made a profit they can made a huge profit to other coins they hold. The advantage of investing and as a holder is that they can buy a coin at a very low price and make a huge profit after holding them for the long term. It's different for a trader who does technical analysis and they do have a specific time to hold a position or they target price before they close their position as a trader emotion is one of the hardest things to control if your mindset and target is to make profit if that is your mindset then you will never made a good profit in trading.
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I have did with all step above but can running smoothly and always get failed, I am interested with trading challenge and has limitation around one week should earn profit around $500 to $1000. Firstly is running well and the first week my challenge success get profit almost raise $1k but on second week get problem how easily my coins trading drop drastically, not use feature stop loss and should be long term holder without unpredictable when recovering of my altcoin or bitcoin assets.
Need to deposit another fresh money and forget with some coins assets dropping, but I doubt will get the same with my last capital just taking profit in the firstly week than loss?
Thats what makes trading as a hard thing and not something that could really be that easily be able to handle by any trader on their first tries or on the moment that they would be deciding on dealing up with trading or simply with this volatile market. You cant really just that make yourself that easily become that too good or something profitable on the moment that you would be doing trading. It would really be taking up some time before you would be able to have a good grasps in the market on which it would really be that understandable that loses would really be part of learning. There are really just those people who are really that expecting too much on things.
Sometimes it's not so much about how to trade with a less volatile market, but sometimes the trading can be very complicated to see decisions, but according to what I have seen sometimes in trading of 1 minute candles that only needs to be Applied 1 or 2 Techniques to realize that sometimes what is needed is to have two lines and wait to find a good movement , once that is done things change , Because I apply 1 martingale at most, of course this is for 1 minute, since when it is long-term trading the volatility decreases, only the times to take Profits Increase and that is Something that we should Always see , until now that is what I have Discovered in short-term trading.
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I have did with all step above but can running smoothly and always get failed, I am interested with trading challenge and has limitation around one week should earn profit around $500 to $1000. Firstly is running well and the first week my challenge success get profit almost raise $1k but on second week get problem how easily my coins trading drop drastically, not use feature stop loss and should be long term holder without unpredictable when recovering of my altcoin or bitcoin assets.
Need to deposit another fresh money and forget with some coins assets dropping, but I doubt will get the same with my last capital just taking profit in the firstly week than loss?
Thats what makes trading as a hard thing and not something that could really be that easily be able to handle by any trader on their first tries or on the moment that they would be deciding on dealing up with trading or simply with this volatile market. You cant really just that make yourself that easily become that too good or something profitable on the moment that you would be doing trading. It would really be taking up some time before you would be able to have a good grasps in the market on which it would really be that understandable that loses would really be part of learning. There are really just those people who are really that expecting too much on things.
Sometimes it's not so much about how to trade with a less volatile market, but sometimes the trading can be very complicated to see decisions, but according to what I have seen sometimes in trading of 1 minute candles that only needs to be Applied 1 or 2 Techniques to realize that sometimes what is needed is to have two lines and wait to find a good movement , once that is done things change , Because I apply 1 martingale at most, of course this is for 1 minute, since when it is long-term trading the volatility decreases, only the times to take Profits Increase and that is Something that we should Always see , until now that is what I have Discovered in short-term trading.
Wont matter much on whatever the things that we are applying or indicators or candle readings with our tradings on which it would really differ on each trader.
We are the ones who would really be making out adjustments accordingly on which it would really be just that normal that there would be those differences.
What matter most on here is that you do make yourself having good decisions and making up those profitable trades. The thing that should really be having in mind
is that dont tend to chase up if you do missed up a certain entry, there's always that opportunity on getting in or out.
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Very good friend, For a beginner trader this will really help increase experience in crypto trading. We will gain insight and experience, of course by joining the trading community we will get a lot of important information.
However, for professional traders it seems that these points will not have much influence because they already have their own analysis, which according to them is certainly better than what other people say.
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Very good friend, For a beginner trader this will really help increase experience in crypto trading. We will gain insight and experience, of course by joining the trading community we will get a lot of important information.
Actually, it is not a must to join trading community, we can get experience ourselves. Whenever we trade, we often get new lessons, specifically when we did the wrong way. You must know that we can learn from the mistakes. Or we can learn experiences from the story of other people. So, joining the trading community is just optional for me.
However, for professional traders it seems that these points will not have much influence because they already have their own analysis, which according to them is certainly better than what other people say.
Actually, those points are common tips for traders. You can find them in many articles, but it is good that someone wants to share it to others here. For professional or experts, they already understand the basic things. What they want is more specific knowledge and more experiences.
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Very good friend, For a beginner trader this will really help increase experience in crypto trading. We will gain insight and experience, of course by joining the trading community we will get a lot of important information.
Actually, it is not a must to join trading community, we can get experience ourselves. Whenever we trade, we often get new lessons, specifically when we did the wrong way. You must know that we can learn from the mistakes. Or we can learn experiences from the story of other people. So, joining the trading community is just optional for me.
There are many people with different types, some can do it because they are used to it, some can do it because they learn from other people. However, people who can because of their own experience are certainly better, but at least if we join a trading community, at least we will get a little more information and we can combine that with our own experience and it will be better.
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I agree with that demo is not the whole thing, of course you will need to do better stuff, there is no other way around it, I am just saying that for a newbie that is starting, if you are learning how to trade then using demo at first is better instead of using real cash. However, after a while, that will not be enough, and yo ucan't just demo trade and be great and then start real trading and be great there too. You have to just end up being a bit better and better with time and that's the only way to go. So I agree with the notion that you are going to end up with something that will take a bit of time.
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I agree with that demo is not the whole thing, of course you will need to do better stuff, there is no other way around it, I am just saying that for a newbie that is starting, if you are learning how to trade then using demo at first is better instead of using real cash. However, after a while, that will not be enough, and yo ucan't just demo trade and be great and then start real trading and be great there too. You have to just end up being a bit better and better with time and that's the only way to go. So I agree with the notion that you are going to end up with something that will take a bit of time.
Yes, of course a demo account is not everything, but we can use it to learn to understand what is involved in trading, we can learn supporting aspects such as indicators and so on on a demo account.
Whatever it is, there must be a process and that process definitely takes time, we need to have enough patience to get what we want. We cannot achieve something instantly, especially if it is something that is not easy for us to do.
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I have did with all step above but can running smoothly and always get failed, I am interested with trading challenge and has limitation around one week should earn profit around $500 to $1000. Firstly is running well and the first week my challenge success get profit almost raise $1k but on second week get problem how easily my coins trading drop drastically, not use feature stop loss and should be long term holder without unpredictable when recovering of my altcoin or bitcoin assets.
Need to deposit another fresh money and forget with some coins assets dropping, but I doubt will get the same with my last capital just taking profit in the firstly week than loss?
Thats what makes trading as a hard thing and not something that could really be that easily be able to handle by any trader on their first tries or on the moment that they would be deciding on dealing up with trading or simply with this volatile market. You cant really just that make yourself that easily become that too good or something profitable on the moment that you would be doing trading. It would really be taking up some time before you would be able to have a good grasps in the market on which it would really be that understandable that loses would really be part of learning. There are really just those people who are really that expecting too much on things.
Sometimes it's not so much about how to trade with a less volatile market, but sometimes the trading can be very complicated to see decisions, but according to what I have seen sometimes in trading of 1 minute candles that only needs to be Applied 1 or 2 Techniques to realize that sometimes what is needed is to have two lines and wait to find a good movement , once that is done things change , Because I apply 1 martingale at most, of course this is for 1 minute, since when it is long-term trading the volatility decreases, only the times to take Profits Increase and that is Something that we should Always see , until now that is what I have Discovered in short-term trading.
Wont matter much on whatever the things that we are applying or indicators or candle readings with our tradings on which it would really differ on each trader.
We are the ones who would really be making out adjustments accordingly on which it would really be just that normal that there would be those differences.
What matter most on here is that you do make yourself having good decisions and making up those profitable trades. The thing that should really be having in mind
is that dont tend to chase up if you do missed up a certain entry, there's always that opportunity on getting in or out.
Yes, you are right, I have seen and read many strategies, especially those of technical analysis, which for me works much more in very short-term trading intervals, I am talking about 1-minute trading, I know that there are much more technical issues, at a broader level, already giving a more Medium and long-term point of view. Currently, what is happening or what many call price action has a lot of influence, and that is that they decide to operate according to how they see the price action and checking the volume at all times, that is Something that can help us a lot, of course this is something that will always be noticed and it will be taken for granted that things can go very well if the right decision is always made, for me the types of trading differ a lot, it is not the same to operate in the long term as to do it in the short term.
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I agree with that demo is not the whole thing, of course you will need to do better stuff, there is no other way around it, I am just saying that for a newbie that is starting, if you are learning how to trade then using demo at first is better instead of using real cash. However, after a while, that will not be enough, and yo ucan't just demo trade and be great and then start real trading and be great there too. You have to just end up being a bit better and better with time and that's the only way to go. So I agree with the notion that you are going to end up with something that will take a bit of time.
I don't know... it seems like I'm not familiar with the demo feature on cryptocurrency exchanges, in fact in the last few years I haven't used a demo account for cryptocurrency exchanges... maybe for other exchanges such as forex or binary options I've tried a demo account there, but for Binance, Bitrex, Kucoin and other popular exchanges, I really don't know the demo version.
Usually demo accounts are only used for business-personal platforms, where profits can be obtained from the platform or bookie... but the concept of cryptocurrency trading is actually between people or individuals, so maybe that's where I found no demo accounts.
One way to learn this is to use small amounts of money... yes, from that little amount you should be able to manage larger assets later.
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I have did with all step above but can running smoothly and always get failed, I am interested with trading challenge and has limitation around one week should earn profit around $500 to $1000. Firstly is running well and the first week my challenge success get profit almost raise $1k but on second week get problem how easily my coins trading drop drastically, not use feature stop loss and should be long term holder without unpredictable when recovering of my altcoin or bitcoin assets.
Need to deposit another fresh money and forget with some coins assets dropping, but I doubt will get the same with my last capital just taking profit in the firstly week than loss?
Thats what makes trading as a hard thing and not something that could really be that easily be able to handle by any trader on their first tries or on the moment that they would be deciding on dealing up with trading or simply with this volatile market. You cant really just that make yourself that easily become that too good or something profitable on the moment that you would be doing trading. It would really be taking up some time before you would be able to have a good grasps in the market on which it would really be that understandable that loses would really be part of learning. There are really just those people who are really that expecting too much on things.
Sometimes it's not so much about how to trade with a less volatile market, but sometimes the trading can be very complicated to see decisions, but according to what I have seen sometimes in trading of 1 minute candles that only needs to be Applied 1 or 2 Techniques to realize that sometimes what is needed is to have two lines and wait to find a good movement , once that is done things change , Because I apply 1 martingale at most, of course this is for 1 minute, since when it is long-term trading the volatility decreases, only the times to take Profits Increase and that is Something that we should Always see , until now that is what I have Discovered in short-term trading.
Wont matter much on whatever the things that we are applying or indicators or candle readings with our tradings on which it would really differ on each trader.
We are the ones who would really be making out adjustments accordingly on which it would really be just that normal that there would be those differences.
What matter most on here is that you do make yourself having good decisions and making up those profitable trades. The thing that should really be having in mind
is that dont tend to chase up if you do missed up a certain entry, there's always that opportunity on getting in or out.
Yes, you are right, I have seen and read many strategies, especially those of technical analysis, which for me works much more in very short-term trading intervals, I am talking about 1-minute trading, I know that there are much more technical issues, at a broader level, already giving a more Medium and long-term point of view. Currently, what is happening or what many call price action has a lot of influence, and that is that they decide to operate according to how they see the price action and checking the volume at all times, that is Something that can help us a lot, of course this is something that will always be noticed and it will be taken for granted that things can go very well if the right decision is always made, for me the types of trading differ a lot, it is not the same to operate in the long term as to do it in the short term.
And this is why it would really be that important about differentiating on which kind of trading style that would really be fitting on you because not all traders would really be having that the same condition in terms of money,availability of time and their skills or knowledge. This is why we cant really be able to precisely tell on which things that would really be working on you.
So it would really be something that would really be situational on this kind of aspects. So we are the ones who would really be needing to find out on which one would really be
fitting out.
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And this is why it would really be that important about differentiating on which kind of trading style that would really be fitting on you because not all traders would really be having that the same condition in terms of money,availability of time and their skills or knowledge. This is why we cant really be able to precisely tell on which things that would really be working on you.
So it would really be something that would really be situational on this kind of aspects. So we are the ones who would really be needing to find out on which one would really be
fitting out.
Yes, in trading we have to adjust what suits us. Skills, knowledge and of course time. Because not everyone has a lot of time to monitor market movements, and trading needs that. Especially for daily trading, this takes up a lot of our time. I only do spot trading, buy top coins, hold them until I make a profit for two or three days, even a week, if I feel I have enough profit, I sell the coins, and then buy other coins.
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Yes, in trading we have to adjust what suits us. Skills, knowledge and of course time. Because not everyone has a lot of time to monitor market movements, and trading needs that. Especially for daily trading, this takes up a lot of our time. I only do spot trading, buy top coins, hold them until I make a profit for two or three days, even a week, if I feel I have enough profit, I sell the coins, and then buy other coins.
For trading you will have to learn all the basic information and then utilize your whole day just to look at the market changes so if someone is busy in another job and cannot give time to knowledge and trading then he should not choose this field because loss in trading makes a person unsatisfied. Daily trading requires checking of the market price regularly all over the day as there are no predictions of how long the price will remain in the same value.
It is a good idea that we should buy at a lower cost and keep the coin hold for weeks or months when it increases in price then sell to get profit so in this case there will be maximum number of wins and minimum losses because you are using your mind here but remember that your mind should also be active during the coin selection as every coin does not show increase after a week or month.
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And this is why it would really be that important about differentiating on which kind of trading style that would really be fitting on you because not all traders would really be having that the same condition in terms of money,availability of time and their skills or knowledge. This is why we cant really be able to precisely tell on which things that would really be working on you.
So it would really be something that would really be situational on this kind of aspects. So we are the ones who would really be needing to find out on which one would really be
fitting out.
Yes, in trading we have to adjust what suits us. Skills, knowledge and of course time. Because not everyone has a lot of time to monitor market movements, and trading needs that. Especially for daily trading, this takes up a lot of our time. I only do spot trading, buy top coins, hold them until I make a profit for two or three days, even a week, if I feel I have enough profit, I sell the coins, and then buy other coins.
If you dont have much time then you can really just that simply make yourself hold your position and just trying to accumulate as much as you could and would really be able to make that profits on the time that them market would really be having some moonshot but of course not all people would really be that having that kind of patience that they could really be able to hold for too long. This is why it would really be just varying on how you would really be able ot handle yourself in terms of trading. Improvement is inevitable at the moment that you would really be
continually be able to experience the market and make out those engagement.
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Yes, of course a demo account is not everything, but we can use it to learn to understand what is involved in trading, we can learn supporting aspects such as indicators and so on on a demo account.
It is strange if there is someone believe the demo account is everything. :D
Even if demo account is important, it is just the initial part of the trading journey. Demo account introduce the basic matters, but the further steps that determine the success in trading. When we do real trading, it is the real effort. The success will depend on this.
Whatever it is, there must be a process and that process definitely takes time, we need to have enough patience to get what we want. We cannot achieve something instantly, especially if it is something that is not easy for us to do.
I agree with this. There is no instant success, it should be achieved by a process. The process must take time, it may be for some years. Mastering trading won't be possible in few weeks only. We must be familiar with the change of crypto trends to master it. This means to understand varied strategies in trading because each trend may need a different strategy.
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Yes, of course a demo account is not everything, but we can use it to learn to understand what is involved in trading, we can learn supporting aspects such as indicators and so on on a demo account.
It is strange if there is someone believe the demo account is everything. :D
Even if demo account is important, it is just the initial part of the trading journey. Demo account introduce the basic matters, but the further steps that determine the success in trading. When we do real trading, it is the real effort. The success will depend on this.
Whatever it is, there must be a process and that process definitely takes time, we need to have enough patience to get what we want. We cannot achieve something instantly, especially if it is something that is not easy for us to do.
I agree with this. There is no instant success, it should be achieved by a process. The process must take time, it may be for some years. Mastering trading won't be possible in few weeks only. We must be familiar with the change of crypto trends to master it. This means to understand varied strategies in trading because each trend may need a different strategy.
This is a series of ways to make us understand trading, so a demo account helps, but that doesn't mean we can be successful just by being able to master demo trading.
In a demo account there is no money traded, I mean we use fake money. So we will be calmer because psychologically we will not be stressed. It's different when we use real money, we will definitely feel pressure which ultimately affects our mentality, that's what we have to pay attention too.
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- Whenever you loose in trading, always return back to find out the reason why you failed.
This is something that you should really be considering out in speaking about trying out to have some progress then you should really be having this kind of approach
because you wont really be able to make yourself that progressive if you would really be just that sitting still on what condition you are now.
If you are someone whose really that trying out to accept about into your mistakes and make it applied on the next engagement or experience which you do tend to
correct your mistakes then it do really shows up some growth and this is something which is positive.
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- Everything you said is correct; just don't stop studying or practicing trading activities in this field. It should always be an empty cup so that every knowledge or idea that we get or know here is not wasted. Just always feed ourselves with knowledge.
This knowledge of cryptocurrency, or Bitcoin, will drive us to be successful in the end. Just be vigilant and patient and don't give up. Always learn from every mistake we make and don't repeat it. We always need to level up here as traders.
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- Whenever you loose in trading, always return back to find out the reason why you failed.
.............
If you are someone whose really that trying out to accept about into your mistakes and make it applied on the next engagement or experience which you do tend to
correct your mistakes then it do really shows up some growth and this is something which is positive.
Well said. Every mistake in trading give an lesson and those who use the lesson and every time learn from their mistakes those trader can improve their trading skills . A long time ago an world famous trader currently I forgot his name but remember his quote that he made lot's of losses and every time he learns something new from his losses and use the lesson to recover and don't do the mistakes again. So this is how one can improve their trading skill just like it's a simple practice.
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In my personal opinion what I think for improving in trading the first task is face loss and I am sure in every trader life they face loss multiple time. And here the basic thing start they should follow the mistake they done and the cause and don't make the mistake again this is the simple practice to improve trading.
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I agree with that demo is not the whole thing, of course you will need to do better stuff, there is no other way around it, I am just saying that for a newbie that is starting, if you are learning how to trade then using demo at first is better instead of using real cash. However, after a while, that will not be enough, and yo ucan't just demo trade and be great and then start real trading and be great there too. You have to just end up being a bit better and better with time and that's the only way to go. So I agree with the notion that you are going to end up with something that will take a bit of time.
For those who do not know how to trade, it is not bad to open a demo account and learn how to trade. A demo account can only get the basic idea of trading but it is never possible to learn advanced trading with a demo account. Moreover, how to buy and how to sell is not an important part of trading which requires a lot of time to learn. It is very important to know how to analyze and which investment is profitable. When a trader on his own is able to do these tasks easily then he can become a efficient trader.
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And this is why it would really be that important about differentiating on which kind of trading style that would really be fitting on you because not all traders would really be having that the same condition in terms of money,availability of time and their skills or knowledge. This is why we cant really be able to precisely tell on which things that would really be working on you.
So it would really be something that would really be situational on this kind of aspects. So we are the ones who would really be needing to find out on which one would really be
fitting out.
Well I recently saw some videos on YouTube, where they applied methods only for trading binary options or trading that is 1 minute, and wow there are many fundamentals where chartism trading and pattern trading really work and that is something that until now I realize that it works, but only at those intervals, of course in the long term other things are applied, other methods that are quite good, but I think that all types of trading have their way of analyzing them and in different ways, it is difficult because before deciding what type of trading to do we must determine how we can do it so as not to lose so much money in the attempt.
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Well I recently saw some videos on YouTube, where they applied methods only for trading binary options or trading that is 1 minute, and wow there are many fundamentals where chartism trading and pattern trading really work and that is something that until now I realize that it works, but only at those intervals, of course in the long term other things are applied, other methods that are quite good, but I think that all types of trading have their way of analyzing them and in different ways, it is difficult because before deciding what type of trading to do we must determine how we can do it so as not to lose so much money in the attempt.
You are right because when trading one need to explore the best method to apply that could leads to effective trading or maybe to reduce much lose while reading. The reason most people lose while trading is also the cause of lack information especially in cryptocurrency trading, although generally trading required one to be sound and active to read more information concerning the currency they are trading on.
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The reason most people lose while trading is also the cause of lack information especially in cryptocurrency trading, although generally trading required one to be sound and active to read more information concerning the currency they are trading on.
Reading the complete information includes doing research on the coins to be traded.
That is a mandatory condition before starting trading, because we need to know whether the coin is good or not.
Fundamental losses are indeed dominated by a lack of research or information,
but some are also due to their trading psychology and they also lack basic trading knowledge.
Trading with instinct will only be a waste of money and time, it will not always work
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- When you become emotional in actual trading, it is for sure that you will lose very easily, because we need to know how to control our emotions correctly.
We should have self-control so that when there is a sudden drop in the price of the assets we have, we should not be immediately concerned.
Many people fall into this feeling of worry that causes them to sell assets even at a loss, something that is not the right way of a trader's strategy.
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-snip-
The reason most people lose while trading is also the cause of lack information especially in cryptocurrency trading, although generally trading required one to be sound and active to read more information concerning the currency they are trading on.
Reading the complete information includes doing research on the coins to be traded.
That is a mandatory condition before starting trading, because we need to know whether the coin is good or not.
Fundamental losses are indeed dominated by a lack of research or information,
but some are also due to their trading psychology and they also lack basic trading knowledge.
Trading with instinct will only be a waste of money and time, it will not always work
Does people trade with instinct or what?
Well I never heard this before where people trades with instincts and expect to make profits overtime, overly I see people making same mistake without proper information and doing their research before venturing into the coin to trade.
People should understand the basics of the coin and the team involved especially knowing about the community because most at times community also influences coin to trade.
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-snip-
The reason most people lose while trading is also the cause of lack information especially in cryptocurrency trading, although generally trading required one to be sound and active to read more information concerning the currency they are trading on.
Reading the complete information includes doing research on the coins to be traded.
That is a mandatory condition before starting trading, because we need to know whether the coin is good or not.
Fundamental losses are indeed dominated by a lack of research or information,
but some are also due to their trading psychology and they also lack basic trading knowledge.
Trading with instinct will only be a waste of money and time, it will not always work
Does people trade with instinct or what?
Well I never heard this before where people trades with instincts and expect to make profits overtime, overly I see people making same mistake without proper information and doing their research before venturing into the coin to trade.
People should understand the basics of the coin and the team involved especially knowing about the community because most at times community also influences coin to trade.
Trading should not only use instinct, but we must combine several methods such as instinct, coin analysis methods and looking at market conditions which we can learn well. As long as we understand this concept, it will make it easier for us to make a profit in the trading we do. If we still don't understand the concepts I mentioned above, it will be difficult for traders to make a profit.
-
-snip-
The reason most people lose while trading is also the cause of lack information especially in cryptocurrency trading, although generally trading required one to be sound and active to read more information concerning the currency they are trading on.
Reading the complete information includes doing research on the coins to be traded.
That is a mandatory condition before starting trading, because we need to know whether the coin is good or not.
Fundamental losses are indeed dominated by a lack of research or information,
but some are also due to their trading psychology and they also lack basic trading knowledge.
Trading with instinct will only be a waste of money and time, it will not always work
Does people trade with instinct or what?
Well I never heard this before where people trades with instincts and expect to make profits overtime, overly I see people making same mistake without proper information and doing their research before venturing into the coin to trade.
People should understand the basics of the coin and the team involved especially knowing about the community because most at times community also influences coin to trade.
Trading should not only use instinct, but we must combine several methods such as instinct, coin analysis methods and looking at market conditions which we can learn well. As long as we understand this concept, it will make it easier for us to make a profit in the trading we do. If we still don't understand the concepts I mentioned above, it will be difficult for traders to make a profit.
You would be finding on yourself on what are the things that you would really be needing up on the moment that you do find yourself that dealing up with thise volatile space.
You cant really just that be able to sustain or survive this market if you would really be just be basing up with some intuition and some thoughts into your mind without
applying any analysis or applying any strategies on which we know that this would really be something relevant at the moment that you would really be gonna dealing
up with this unpredictable market. If you wont really be that careful then you would really be ending up on losing up tons of money.
-
-snip-
The reason most people lose while trading is also the cause of lack information especially in cryptocurrency trading, although generally trading required one to be sound and active to read more information concerning the currency they are trading on.
Reading the complete information includes doing research on the coins to be traded.
That is a mandatory condition before starting trading, because we need to know whether the coin is good or not.
Fundamental losses are indeed dominated by a lack of research or information,
but some are also due to their trading psychology and they also lack basic trading knowledge.
Trading with instinct will only be a waste of money and time, it will not always work
Does people trade with instinct or what?
Well I never heard this before where people trades with instincts and expect to make profits overtime, overly I see people making same mistake without proper information and doing their research before venturing into the coin to trade.
People should understand the basics of the coin and the team involved especially knowing about the community because most at times community also influences coin to trade.
Trading should not only use instinct, but we must combine several methods such as instinct, coin analysis methods and looking at market conditions which we can learn well. As long as we understand this concept, it will make it easier for us to make a profit in the trading we do. If we still don't understand the concepts I mentioned above, it will be difficult for traders to make a profit.
You would be finding on yourself on what are the things that you would really be needing up on the moment that you do find yourself that dealing up with thise volatile space.
You cant really just that be able to sustain or survive this market if you would really be just be basing up with some intuition and some thoughts into your mind without
applying any analysis or applying any strategies on which we know that this would really be something relevant at the moment that you would really be gonna dealing
up with this unpredictable market. If you wont really be that careful then you would really be ending up on losing up tons of money.
I think there are other aspect people are not considering in trading why because some people are mentally emotionally affected while trading at this point its really could be very hard to achieve but if all this are being put away then such person can succeed in trading not a newbie, but already established trader for them to keep winning they must avoid being emotionally affected that is why most people trade with instinct and it doesn't help matter anymore because it increases the chances of losing very fast and quicker.
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Trading should not only use instinct, but we must combine several methods such as instinct, coin analysis methods and looking at market conditions which we can learn well. As long as we understand this concept, it will make it easier for us to make a profit in the trading we do. If we still don't understand the concepts I mentioned above, it will be difficult for traders to make a profit.
We have to rely on everything when trading, we cannot just rely on one aspect, such as instinct, for example, because in trading other factors also have an important role in determining our success in trading.
Well, we have to get used to things like this. Indeed, this is something easy because sometimes when we have to think a lot we will become bored. Therefore, we must have a high level of commitment when we are in the trading room.
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Trading should not only use instinct, but we must combine several methods such as instinct, coin analysis methods and looking at market conditions which we can learn well. As long as we understand this concept, it will make it easier for us to make a profit in the trading we do. If we still don't understand the concepts I mentioned above, it will be difficult for traders to make a profit.
We have to rely on everything when trading, we cannot just rely on one aspect, such as instinct, for example, because in trading other factors also have an important role in determining our success in trading.
Well, we have to get used to things like this. Indeed, this is something easy because sometimes when we have to think a lot we will become bored. Therefore, we must have a high level of commitment when we are in the trading room.
It's not easy to trade, so we can't just rely on instinct. We must have both fundamental and technical analysis skills. And this takes a long time to learn because experience in trading is very necessary, the market will also change at any time and there will be a correction.
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You are right because when trading one need to explore the best method to apply that could leads to effective trading or maybe to reduce much lose while reading. The reason most people lose while trading is also the cause of lack information especially in cryptocurrency trading, although generally trading required one to be sound and active to read more information concerning the currency they are trading on.
Well I am currently learning to do a much faster trading , binary options trading , futures trading, it is a trading that I like because I see that the patterns are fulfilled a lot and the chartist figures are fulfilled a lot, so in this order of ideas the Bears can be different from how I saw trading a few years ago, of course it was in the medium term and in the Long term, but now things are different in the Short term, 1 minute, there are many Configurations and many fundamentals that change, so it is a very new way of eeing trading.
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Well I am currently learning to do a much faster trading , binary options trading , futures trading, it is a trading that I like because I see that the patterns are fulfilled a lot and the chartist figures are fulfilled a lot, so in this order of ideas the Bears can be different from how I saw trading a few years ago, of course it was in the medium term and in the Long term, but now things are different in the Short term, 1 minute, there are many Configurations and many fundamentals that change, so it is a very new way of eeing trading.
If what you mean by binary option trading is guessing up or down and the potential is fixed at 50% then that is not trading in the cryptocurrency world... because clearly it is gambling manipulation packaged in the form of trading because trading is famous for making a lot of money... ..
For futures trading, it can still be said to be a strategy, but remember that there is a slight difference in price movements between futures trading and spot trading, which means that centralized parties may intervene in price movements here, causing discrepancies in price movements, even though they are small. However, this small movement will of course make very different results, because leverage really changes everything.
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I still think consistency, I know a lot of people will say a lot of things, but consistency is the key no matter what it is. You can talk about studying, you can talk about indicators, you can talk about TA and FA, it doesn't matter if you talk about market caps or volume or patterns or candles. At the end of the day, whatever you do to make more, you need to realize that you need to keep doing it, and can't do that just for a short while, it doesn't work that way. You need to keep doing it for many times over, in order to become someone much better, and that way you are going to be making good profit.
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- Whenever you loose in trading, always return back to find out the reason why you failed.
i've done this several times yet i am not that good in trading so i decided to Keep holding so im safer and just waiting .
- Do not depend on signal groups.
Signal groups? are they really trustworthy? i doubt they are .
- Practice emotional control.
in all manners even in gambling , emotion must not be used but mind only.
- Do not focus on too many cryptocurrency pairs.
- Join a community of traders.
Can you share traders community ? i mean the legit one because all i found are nothing but sharing of shitcoins.
These are a few, and I am sure there are more from other traders, please share to the benefit of us all.
thanks for sharing , its really helpful .
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Well I am currently learning to do a much faster trading , binary options trading , futures trading, it is a trading that I like because I see that the patterns are fulfilled a lot and the chartist figures are fulfilled a lot, so in this order of ideas the Bears can be different from how I saw trading a few years ago, of course it was in the medium term and in the Long term, but now things are different in the Short term, 1 minute, there are many Configurations and many fundamentals that change, so it is a very new way of eeing trading.
If what you mean by binary option trading is guessing up or down and the potential is fixed at 50% then that is not trading in the cryptocurrency world... because clearly it is gambling manipulation packaged in the form of trading because trading is famous for making a lot of money... ..
For futures trading, it can still be said to be a strategy, but remember that there is a slight difference in price movements between futures trading and spot trading, which means that centralized parties may intervene in price movements here, causing discrepancies in price movements, even though they are small. However, this small movement will of course make very different results, because leverage really changes everything.
Yes, although from a trading point of view, when it comes to trading binary options, there is an advantage in that the volume is clearly consolidated, and although the courses I have read do not focus on volume but only on the way of seeing the chart, the pattern, everything that is about the form, I think it is still an advantage. In futures, it is known that the volume of crypto is not consolidated, it is very difficult to reach a consolidated volume, however, I have not done well yet, because I do not know if the same fundamentals are met, it has seemed really a bit complicated to me.
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i've done this several times yet i am not that good in trading so i decided to Keep holding so im safer and just waiting .
If you face difficulties in trading and due to such troubles your loss increases then investing is a better option for you because we can change our way of earning if we cannot manage the strategies for trading and have no control to reduce our loss. Unlike trading Investment will not put you in such a huge stress and your loss will also be not larger in number so it is better to invest than to trade.
Signal groups? are they really trustworthy? i doubt they are .
Yes trading signals groups are trustworthy but not every group will provide you right information therefore you can be a part of useless group if you don't search well about the manager of the group. Signal groups are helpful for newbies because they will guide newbies to choose accurately but most of the experienced traders do not take help from any signal groups.
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- Practice emotional control.
This is something that i would really be tending to make such good control or on the moment i would really be considering on trying to learn up on which
emotin is something the biggest factor on why people do make out some impulsive trades or being that too careless on where they are really that not mindful
on the moment that their emotions is really that something on not a good state. This is the main reaon on why traders do make our some impulsive
approach on which this is something not really that good nor recommended.
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- Practice demo trading, although not all traders started with Demo trading because some traders actually could handle the risk of loosing.
Some people avoid demo trading for some certain reasons. There's a big difference between demo trading and real life trading. You could be good at demo trading, since you are not losing anything, your emotions will be stable. But when money involve, your emotion will begin to distablize.
- Whenever you loose in trading, always return back to find out the reason why you failed.
Only if you will discover the reason you failed.
- Do not depend on signal groups.
Even if you have to take a clue from them, you should first know how to trade yourself.
- Practice emotional control.
How do anyone go about this?
- Do not focus on too many cryptocurrency pairs.
Good advice...
- Join a community of traders.
Here you meet failures and winners.
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- Practice emotional control.
This is something that i would really be tending to make such good control or on the moment i would really be considering on trying to learn up on which
emotin is something the biggest factor on why people do make out some impulsive trades or being that too careless on where they are really that not mindful
on the moment that their emotions is really that something on not a good state. This is the main reaon on why traders do make our some impulsive
approach on which this is something not really that good nor recommended.
It is not easy to do, controlling emotions requires quite a lot of experience because each trade will exert different pressure.
The final decision of trading depends on good decision-making and this is influenced by the emotions of each trader or how psychology will play an important role.
Impulsive actions occur due to a lack of emotional control and not knowing what to do then, it is just done spontaneously without any plan.
It would be more dangerous because it does not know what the real state of the market is.