Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: laubeaud on July 09, 2024, 12:40:22 PM
-
As a trader, we need patience while trading.
In trading, patience is required at four levels:
A) You need patience to learn how the market moves and how to trade it—"Learn" first before you "Earn."
B) You need to have patience and do a thorough analysis before taking a trade. Do not rush into trades.
C) You need to be patient and wait for your setup or the right opportunity. Be a sniper, not a machine gun, opening trades at each market movement.
D) You need to be patient and let your trade hit your target—do not forget to let your winning trades run and cut your losses immediately.
Do you have something to add?
-
Do you have something to add?
Patient is an utmost required personal skill in the Crypto industry with the acknowledgement that you need to follow the market trends and not the market following your trends.
The crypto market is an advent where patient to hold your assets and taking good studies based of market sentiments of when to buy and when to sell in other to make profits.
You will also need time as patient to do your researches and enquires before taking a drastic action towards your trade or investment because going faster than the market requires may end you up to regrets.
-
D) You need to be patient and let your trade hit your target—do not forget to let your winning trades run and cut your losses immediately.
We don't always look at the chart because most of us have other stuff to do besides trading. So it's better to put a stop loss immediately when your entry was filled so that you don't need to look at it from time to time. It's also saves time and lessen stress.
-
As a trader, we need patience while trading.
In trading, patience is required at four levels:
A) You need patience to learn how the market moves and how to trade it—"Learn" first before you "Earn."
B) You need to have patience and do a thorough analysis before taking a trade. Do not rush into trades.
C) You need to be patient and wait for your setup or the right opportunity. Be a sniper, not a machine gun, opening trades at each market movement.
D) You need to be patient and let your trade hit your target—do not forget to let your winning trades run and cut your losses immediately.
Do you have something to add?
I want to add something, but it's really hard to find something to add to your opinion. Perhaps I will talk about how traders can maintain that patience throughout their careers in order to generate profits regularly.
Experience and a deep understanding of the probabilistic nature of the market will be the best teachers for any trader. As long as traders are always cautious and patient, they will be able to continue learning and have the capital to continue to exist with the market. Sometimes we also need to be patient with temporary losses ^^
-
Do you have something to add?
Be patient in facing FUD moments that cause bearishness... yes, for people who are too carried away by emotions, they will immediately panic and sell at a loss, but not for people who are patient... waiting for a bounce back is of course one strategy to avoid losses.
If you look further, the actual meaning of patience is very broad within the scope of trading, so patience is holding back emotions so as not to take careless actions.
-
We don't always look at the chart because most of us have other stuff to do besides trading. So it's better to put a stop loss immediately when your entry was filled so that you don't need to look at it from time to time. It's also saves time and lessen stress.
If you have other things that you are doing, why not leave trading instead? Stop loss has its own disadvantages and some people may not just use it. But in reality, have you made enough profit from trading and you use stop loser often? I just do not like high risk trading. If I have other things that I am doing, I will only prefer to hold or go for swing trading.
-
Do you have something to add?
Trading is not too easy matter. I trading we need huge patience in different ways. Mainly we need patience in down market and in Fud. If a trader unable to control patiencehe will must do wrong and finally he will be losser there has no doubt. So overall thinking we can tell patience is Main things in trading. Who will unable to patience he will be losser and who will be able to hold patience he will be succeed there has no doubt.
-
I am against cutting your losses immediately because it will often make you hesitate in making decisions and because the price trend may reverse even when it touches the required support or resistance level.
In some altcoins, technical analysis does not work, and relying on intuition and following the news is your way to achieve profits.
-
Actually, in trading, not only patience is needed, but also technique, good at analyzing and what is no less important is extensive knowledge about the coins we are trading. so we are not only patient when prices fall, but what is more important is that we can determine the right attitude. Buy and sell at the right time.
-
- Patience is really important, especially if you are a trader, whether it is in crypto, stocks, or forex. Because if you don't have patience, you definitely won't get earnings from trading. But overall, in general, in every human success, patience is always a part of it.
But we must know how to use it correctly, because once we can't use it correctly, it will surely affect the strategy we are using. This often happens when there is a sudden dump in a coin that we hold, which makes the situation uncontrollable, which is not supposed to be like that.
-
I am against cutting your losses immediately because it will often make you hesitate in making decisions and because the price trend may reverse even when it touches the required support or resistance level.
In some altcoins, technical analysis does not work, and relying on intuition and following the news is your way to achieve profits.
I'm not sure about this because generally, enduring temporary losses is not encouraged in trading as it can lead to larger losses and cause traders to lose a significant portion of their capital. Traders should set stop-losses and respect them strictly.
Each trader will have their own market analysis methods and trading strategies. Win rate and capital management will play a crucial role in generating sustainable profits for traders.
-
Patience is most important part in trading but first needed before trading in cryptocurrency about technical or trading way how to earn much profitable.
Many people keep patience waiting with their coins raise up but have wrong technical by trading with wrong altcoin make their patience nothing because their altcoin holding never raise up back to the higher price.
I think in trading patience is the key become success regarding you prefer with technical firstly when choosing potential coins for trading before holding it until longer time, keep patience with right altcoin is the meaning of patience needed in trading but if wrong coins I don't sure right your patience.
-
We don't always look at the chart because most of us have other stuff to do besides trading. So it's better to put a stop loss immediately when your entry was filled so that you don't need to look at it from time to time. It's also saves time and lessen stress.
If you have other things that you are doing, why not leave trading instead? Stop loss has its own disadvantages and some people may not just use it. But in reality, have you made enough profit from trading and you use stop loser often? I just do not like high risk trading. If I have other things that I am doing, I will only prefer to hold or go for swing trading.
Trading is like gambling you can't master all the art in trading as as much as you make profits same ways you make loses from time to time and this have been proven truths that every trader must accepting it realities.
So if you want to make head way in trading, then you should only trade with a small amount of money so that when you make loses you can easily adapt to the pain of losing the money and when you make profits, you should not be greedy to the point of forgetting to take out your initial capital and trade with the profits.
-
I am against cutting your losses immediately because it will often make you hesitate in making decisions and because the price trend may reverse even when it touches the required support or resistance level.
In some altcoins, technical analysis does not work, and relying on intuition and following the news is your way to achieve profits.
Trading have different approaches. Some traders are using high leverage, such traders can use stop loss. But what I do not like about high leverage is that most of the traders that use high leverage will lose to the traders that are patient and using low leverage. So I also prefer traders to be like what you posted but not all traders are like that and they are losing than making profit is my guess.
If you have other things that you are doing, why not leave trading instead? Stop loss has its own disadvantages So if you want to make head way in trading, then you should only trade with a small amount of money so that when you make loses you can easily adapt to the pain of losing the money and when you make profits, you should not be greedy to the point of forgetting to take out your initial capital and trade with the profits.
Yes. Using little amount of money to trade is very important. Just as 1% of your income is recommended for gambling, also 1% of you income is recommended for trading.
-
It means profit. If you are patient when you are trading then you are going to do fine. I know that it is not simple and I know that it takes a lot to do something like that, but I also know that you have to and you have no alternatives. If you keep on trying to rush profiting, you are going to end up with a lot more worse results, and you shouldn't really be doing that, you need to consider how to do better with time. But if you could just ignore it, then you are going to do a lot more money which is why I think it should be very important to keep waiting. Do not try to rush making a profit because that can't be done.
-
As a trader, we need patience while trading.
As a trader one doesn't only need to have patience but understanding of the market as well. If someone doesn't understand the market and somehow buys an asset when it's at peak then such traders can't make any profits even if they hold that asset for long term.
I believe the best thing a trader can do is to learn the market and understand that how it works. If someone can do that than earning big profits is possible for such traders but if someone isn't knowledgeable about the market then that person can't make much profits as a trader.
-
Op trading is not easy as you are saying though those are some of the steps to be a successful trader but nobody is perfect in trading. In trading the master of all is master of none. Don't be greedy in trading because if your are just greedy then you lose everything you have. Once you have a little profit that above your capital trading amount then stop the trade and withdraw the profit and if you like to continue, you can continue but at least you have removed something from the total amount. Greediness has emptied many traders accounts so it should be avoided with maximum. And all the other factors you mentioned are correct.
-
Yes, indeed, patience is very important in trading, not only that, patience is also important in dealing with life. Patience is one of the keys that we must use, in this case patience can also be very useful when we are facing a weak opponent. Not only that, the most important thing is:
Patience is very important to have, when market conditions are very low and suddenly prices change according to direction, but it is important to do it with high risks and their levels are above what they should be. So, fix your emotions and left
-
Op trading is not easy as you are saying though those are some of the steps to be a successful trader but nobody is perfect in trading. In trading the master of all is master of none.
Without a plan to manage risks and deal with market fluctuations, emotions will control you, and the last thing you want is for emotions to control you. Therefore, be careful of trading without managing risks and setting specific points by which you know profit and loss and when to stop your loss or collect your profits.
-
In trading we always need to do good research on every subject matter, we should always keep our aim fixed, and never lose focus. The market is always changing, while constant adaptation to market conditions also requires patience. You must adhere to risk management policies. Avoid excessive leverage and adhere to your predetermined risk parameters. Take a long-term view rather than trying to make quick gains, don't make hasty decisions.
-
Op trading is not easy as you are saying though those are some of the steps to be a successful trader but nobody is perfect in trading. In trading the master of all is master of none.
Without a plan to manage risks and deal with market fluctuations, emotions will control you, and the last thing you want is for emotions to control you. Therefore, be careful of trading without managing risks and setting specific points by which you know profit and loss and when to stop your loss or collect your profits.
Sometimes when trading we are facing problems such as emotion is controlling you that you didn't notice at all. That's why it's better to always put a stop loss when we trade to avoid big problems in the future. There are many situation like that before that can make traders funds disappear. We don't know what really the cause of that but I believe that most of that was cause by not putting a stop-loss.
-
Do you have something to add?
Well, you cover all the things, I guess, but as you know, trading is never-ending, so there are many more things to cover. There is a famous quote that if you want to earn more, then learn first and then utilize all these things you learned. People have less control over their emotions, and all the damage and losses come from these emotional failures. People fail to control their emotions from FOMO, aggression, fear, and especially from greed. Some users, when they see news, don't want to verify it and go to trade, and then they realize their mistake when they face loss. So, in my view, emotional control is playing a crucial role, and those people who control their emotions will be successful.
-
That's why it's better to always put a stop loss...
Hey!!! jeraldskie11, I don't know if others have also noticed that the "stop loss" in trading doesn't work sometimes. Mostly when the market is crazy shooting. I have lost trading with the stop loss indicator inserted in the trade. So what I will advise traders on that aspect of trading is even though you configured your trade like that you still need to be vigilant and once it tries to penetrate or cross the "stop loss" then you stop the trade. And don't depend on it because you will lose well.
-
That's why it's better to always put a stop loss...
Hey!!! jeraldskie11, I don't know if others have also noticed that the "stop loss" in trading doesn't work sometimes. Mostly when the market is crazy shooting. I have lost trading with the stop loss indicator inserted in the trade. So what I will advise traders on that aspect of trading is even though you configured your trade like that you still need to be vigilant and once it tries to penetrate or cross the "stop loss" then you stop the trade. And don't depend on it because you will lose well.
It is better to put a stop-loss than to lose more money. The stop loss is an indication that does not agree with your desired price trend. So your stop-loss should be the invalidity in the trade so you don't think it's bad to put it. Also don't use an indicator for stop-loss because it doesn't know where the invalidity that you see.
-
You have already analyzed valuable content but i want to think about a few things. It takes a lot of patience to learn trading and it may take years to lose your trading. On the other hand nothing is possible in haste especially all business requires patience. However when you understand about this, try harder. Start trading with very small amount because at first you will get loss out so starting with a small amount will prevent you from wasting your money. Then when you get profitable trading, then you can trade with as much money as you want.
-
Patience means a lot in trading, this could be for a trader to take time in learning on how to trade and know when perfect to trade, there's need for us to be patience also in other to help us acheive having a better experience while on trades because it will make us avoid making some common mistakes which could have affected us while on trades if we didn't have patience on it.
-
A person should have patience before entering into the trading and it is important to give time to learning first prior to diving into trading so those who have no patience will not be able to learn because they will be in a rush of entering into trading.
If the market turns red then it is important to be patient because that is not a good time to trade and chances of losing at that time will be enhanced. If your loss increases then think with patience and try to stop trading for sometimes because your loss can increase if you trade without patience and without knowing about the reason for your loss.
-
D) You need to be patient and let your trade hit your target—do not forget to let your winning trades run and cut your losses immediately.
Just like I already said on BTT, it is good to allow your trade to always hit the target, but it is not compulsory that you let your trade always hit your target profit.
Sometimes, in special circumstances, you could bail out of a trade once you feel comfortable enough with the profit that you have made from it. It takes some kind of skill to be able to recognize these moments.
-
I agree with what you said about patient as a trader because if you are not patient enough you will not be able to acquire the needed skills to be a successful trader and you will not be able to make right decisions in the market in other to manage your losses. Trading is not a get rich quick scheme just the way most newbies think about it and it takes a very long time and sacrifice to acquire the proper knowledge. Only trade with the amount of money that you can afford to lose when trading and be patient with the market by not jumping into the market when you don't understand the market.
-
I agree with what you said about patient as a trader because if you are not patient enough you will not be able to acquire the needed skills to be a successful trader and you will not be able to make right decisions in the market in other to manage your losses. Trading is not a get rich quick scheme just the way most newbies think about it and it takes a very long time and sacrifice to acquire the proper knowledge. Only trade with the amount of money that you can afford to lose when trading and be patient with the market by not jumping into the market when you don't understand the market.
Yeah true. Sometimes, we want to trade every day and we have a goal of 1 trade everyday, but even if we don't see a good setup on the chart that fits our criteria, we still try to make an entry, this is also one of the reasons of losing. So we have to remove that goal and focus on if we see a setup that fits our criteria to increase the quality of our trades.
-
C) You need to be patient and wait for your setup or the right opportunity. Be a sniper, not a machine gun, opening trades at each market movement.
This is the secret tip you are giving away just like that. ;) Waiting for the right opportunity is the best method to make more profit. Don't know about you but I have seen some people making good profits reason is, they waited, waited as long as possible for a single coin they think can make them more profit for the right moment. Otherwise, they move on to the next coin to see if there is any good point to take entry. Waiting for the right moment requires good patience. Newbies lack this but they can develop it with time.
D) You need to be patient and let your trade hit your target—do not forget to let your winning trades run and cut your losses immediately.
Newbies cut their profits by following the fake news and fud. They don't know it's just manipulation and they have to avoid it. They directly fall into the hands of manipulators and do exactly how big whales and social media channels want them to. People spread false news without any confirmation and it weakens the paitence of a trader and they start to think its the end.
-
C) You need to be patient and wait for your setup or the right opportunity. Be a sniper, not a machine gun, opening trades at each market movement.
This is the secret tip you are giving away just like that. ;) Waiting for the right opportunity is the best method to make more profit. Don't know about you but I have seen some people making good profits reason is, they waited, waited as long as possible for a single coin they think can make them more profit for the right moment. Otherwise, they move on to the next coin to see if there is any good point to take entry. Waiting for the right moment requires good patience. Newbies lack this but they can develop it with time.
D) You need to be patient and let your trade hit your target—do not forget to let your winning trades run and cut your losses immediately.
Newbies cut their profits by following the fake news and fud. They don't know it's just manipulation and they have to avoid it. They directly fall into the hands of manipulators and do exactly how big whales and social media channels want them to. People spread false news without any confirmation and it weakens the paitence of a trader and they start to think its the end.
Many traders have been trapped in this way, but I am sure they want to learn from the mistakes they have made so that currently there are not too many novice traders who are affected by bad news. They prefer to buy more when prices collapse. As you can see, current market conditions have returned to price increases again. At least this way shows that coin price movements in the market will go up and down, so patience is really needed to make a profit.
-
......
Do you have something to add?
For me, patience in trading means when Fear and Greed index is at high Fear means holding ability and when Greed is at high level it means patience to refrain from buying. And all these things a normal new trader does not understand. They are impatient and do the opposite. And the victims of FUD as well as ultimately appear to be the victims of losses. So I think that if you don't have patience with emotions in trading, it will be very difficult to gain.
-
......
Do you have something to add?
For me, patience in trading means when Fear and Greed index is at high Fear means holding ability and when Greed is at high level it means patience to refrain from buying. And all these things a normal new trader does not understand. They are impatient and do the opposite. And the victims of FUD as well as ultimately appear to be the victims of losses. So I think that if you don't have patience with emotions in trading, it will be very difficult to gain.
Patience is something that is closely related to emotions within us, in fact patience is part of emotions. And we know that in trading we have to be good at controlling our emotions, don't let our emotions control us.
I agree, we must be able to have patience when we lose or when we gain. We must have a plan at the beginning and we must be able to fully adhere to the commitments we made at the beginning, don't break them because of fear or greed.
-
Patience is something that is closely related to emotions within us, in fact patience is part of emotions. And we know that in trading we have to be good at controlling our emotions, don't let our emotions control us.
Of course, patience is a part of our emotion. When we can control our emotion, then we can be patient to deal with any condition. In trading, it is a must that we can control our emotion. If we have no control with our emotion, we are probably easy to decide everything carelessly. When the market is a correction and we have many FUDs, it is possible to lead to panic selling. It is only one of the example if we have no good control with our emotion.
I agree, we must be able to have patience when we lose or when we gain. We must have a plan at the beginning and we must be able to fully adhere to the commitments we made at the beginning, don't break them because of fear or greed.
Indeed. Patience is a must, it is one of the keys to succeed in trading. Sure, if we are patient we can stick with our plans, we don't easily panic and destroys everything.
-
As a trader, we need patience while trading.
hmm, I think, I do not rely on four levels as it includes many other factors with it to being a patient trader or asset holder in the crypto space. One should also control his/her greed emotion in the crypto space to become a successful trader or holder. If one who is a newbie or one who does not have any control over his/her greedy emotion and sells assets or closes trades in rushing his action can lead him to the wrong end.
So, it is very important to have control on your greedy emotions. If one neglects this factor and keeps rushing to take the wrong action then in my view he/she can lose his accumulated amount soon due to wrong decisions. So, just saying this, patience has four levels that can be not the right statement dear, in my view, what do you think of it? As I said patience relies on many factors depending on the situation. :)
-
Patience is something that is closely related to emotions within us, in fact patience is part of emotions. And we know that in trading we have to be good at controlling our emotions, don't let our emotions control us.
I agree, we must be able to have patience when we lose or when we gain. We must have a plan at the beginning and we must be able to fully adhere to the commitments we made at the beginning, don't break them because of fear or greed.
Yes. You are also right. In my opinion, I think patience-ness is also part of emotions like those trader who can control their emotions while doing trading those have good patience. And the chances of success rate and as well that profit rate will be higher in case of those trader who have good patience on trading.
Because those trader who don't have patience those will be make mistakes when the FUD will be spread-ed on the market.
-
Patience means a lot in trading, this could be for a trader to take time in learning on how to trade and know when perfect to trade, there's need for us to be patience also in other to help us acheive having a better experience while on trades because it will make us avoid making some common mistakes which could have affected us while on trades if we didn't have patience on it.
Trading should not be considered as a quick rich mechanism because a person makes quick decisions and then becomes unable to forget the outcomes that he has to face due to quick and wrong decisions. Patience means a person should have the ability to tolerate all the ups and downs that come into his way and the first thing he should consider compulsory is to give time to learning with patience.
There are lots of people who do not give time to learning because they think that if they learn then there is a possibility that they will miss the opportunity of earning. I think missing the opportunity is better than losing money so give time to learning instead of giving time to useless thoughts and have the patience to deal with the fluctuations of the market.
-
<✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂>
There was an famous roman playwright name Plautus he said that "Patience is the best remedy for every trouble." I think this is also goes to trading because it came with the analytics trouble and to get success in trading, the trader must have patience. Only then a trader can earn profit without facing loss.
And of course, it should always be kept in mind that "Patience is bitter, but its fruit is sweet."
-
I agree with what you said about patient as a trader because if you are not patient enough you will not be able to acquire the needed skills to be a successful trader and you will not be able to make right decisions in the market in other to manage your losses. Trading is not a get rich quick scheme just the way most newbies think about it and it takes a very long time and sacrifice to acquire the proper knowledge. Only trade with the amount of money that you can afford to lose when trading and be patient with the market by not jumping into the market when you don't understand the market.
Trading is a deep and lengthy process that works on the knowledge you acquire. The more knowledge you have, the better your understanding, and the more you can earn. I believe that people who lack self-confidence or have little control over their emotions should not venture into trading, as they may incur significant losses in this world of trading. Self-belief is a powerful force that supports your decision-making process. If you lack self-belief, your decisions may lead to losses due to misunderstandings or poor judgment. Therefore, if you lack these two qualities, try to develop them first before entering the world of trading.
-
Patience means having a deep understanding of the necessary steps needed to take on trades without doing things in a wrong manner, when we are trading, we have to watch and trace our steps, know what we are doing and also have a target on what we have set to trade and be profitable in it, but some will only be moved by going for trade even when they have no idea on what to do in making the trade a successful one.
-
Patience is something that is closely related to emotions within us, in fact patience is part of emotions. And we know that in trading we have to be good at controlling our emotions, don't let our emotions control us.
I agree, we must be able to have patience when we lose or when we gain. We must have a plan at the beginning and we must be able to fully adhere to the commitments we made at the beginning, don't break them because of fear or greed.
Yes. You are also right. In my opinion, I think patience-ness is also part of emotions like those trader who can control their emotions while doing trading those have good patience. And the chances of success rate and as well that profit rate will be higher in case of those trader who have good patience on trading.
Because those trader who don't have patience those will be make mistakes when the FUD will be spread-ed on the market.
FUD and FOMO are two things that we will continue to see in the market, because people also use it as one of their opportunities. And those who create these two things are usually people who have a big influence on market movements.
Experience will really help us in avoiding these two things, we can learn from our past experiences to deal with FUD or FOMO. Experience is something that is very valuable in decision making.
-
The content and the subject are not relevant haha, you've got me just because of that question mark. TBH I was here to answer the question but after reading the content seems like it's not worth it.
But I will add a couple of more words to it, you cant be a good trader if you haven't bear the loss in the market. This is risk investment market, you need to face some troubles in order to be a good trader.
-
This is having all it takes to wait, observe, and generate valuable information about the project before investing in it,
It is important to be patient with anything you do in life, even cryptocurrency
-
Do you have something to add?
Patient comes with a maturity of the mindset to understand that you you are potential to lost and profit but your trading strategies would provide you that tendencies to more profits than your losts so, when the lost comes, being patient with the strategies to control your emotions and not to be discouraged by falsely or media Speculations is assumed to be patience.
Overall, your ability not to sell at a downtown market season and keep holding until an uptown of when you realizes your trading goals is a resultant of your patience which results to your profita.