Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: Philinfa on February 11, 2025, 01:57:05 AM
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In my year of trading and learning we get to understand that the learning don't stop to every SL and account blown you take something away from it no matter how small it is you learn from your mistakes that's what makes you grow into a better trader.
For me personally if you don't have patience just get ready to keep failing, you have to learn to wait for your setup that you've been learning and have backtest this strategy over and over again. Having your setup and having the physiology to know when the trend is against your setup is different.
Physiology is key when it comes to trading most traders don't when to say let end the day with this trade once they've made profit they think the market is their play ground and start feeling superior to the market, I'm sorry my friend no one can be 100% sure.
I'll like to hear your thoughts on how you've been able to survive in this space as we keep learning everyday.
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I have to admit that am not good yet at trading and in fact this is something that am quite afraid of to get into though I usually trade my coins/tokens in the past. At the same time, I believe that trading can be a good profession because here once you already established your skills and that innate understanding of the market you can work anytime, anywhere you want to especially in the cryptocurrency market. I said skills because without those one is better not to tackle trading but learning the skills can come with time and experience so one has to never give up in case of mistakes and hindrances. The right attitude, right understanding and right mindset towards trading can make someone be successful in this area...and one can use this tool for a lifetime with unlimited potential.
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Patience, resilience, and ability to adapt.
Managing the risks is also very important. Maybe the most important thing ever.
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I'll like to hear your thoughts on how you've been able to survive in this space as we keep learning everyday.
Our losses in the market is more like a fee we pay to learn. Over tube you find out that these losses were meant to teach you different ways you aren't supposed to trade. Imagine a trader who started his journey, and was all in profits for that time range, he would have that feeling that the market is as simple as it seemed. Unfortunately over time he begins to hit losses and then wonder what he is doing wrong and might even give up too soon.
For me I would say, sjhg give up, learn learn learn. Forget about the profits you main goal should be on a long term understanding of the market.
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Yeah, learning has no limit, the most experienced traders make mistakes, and mistakes are there to bring out the best strategies we never knew.
I also think that part of the losses we encountered on trading are lessons, but with much commitment, resilience, focus, set goals, patience etc, with this, there will be improvements on the long run.
Again, one of the areas to always look at for when crypto trading is re-strategizing your plans and adopting to market changes at intervals. We must not be too strict when there are market trends reversals, and there should be readiness to adjust to market realty
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I'll like to hear your thoughts on how you've been able to survive in this space as we keep learning everyday.
TBH, I don't even know why I keep trading despite of me losing huge amounts of money on it already. I lost more in trading than gambling itself.
I had strategies, and it had worked in the past. The problem with me is there are times where I revenge traded, and it ended up badly. Emotions really gets me always, and that causes me losses. How I've been able to survive? Hmmm, I guess my "why" is the reason is why I still trade. I mean if you lost huge money in trading already, you might think of quitting already, but not in my case... or I think of quitting, but after a few days, I go back again, and learn even more hoping that one day, I'll be a successful one.
Continuous adjustment is needed when it comes to trading. At the same time, being emotionless would be very helpful as well.
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basic knowledge, practice and keep learning, you have to do that because if as a beginner trader you don't know about how trading works then there will be nothing to expect.
As well as conducting analysis and research on what mistakes can occur also need to be done.
Learning how other people's mistakes so as not to get caught or be able to minimize these mistakes may be better.
There is no need to learn and make mistakes because it is now easier to get more accurate information, it's just that trading psychology cannot be trained without hands-on trading practice.
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Yes, there is a lot and a lot for traders to learn, every day you can discover something new to learn and the biggest teacher of trading is the mistakes you make, so you have to benefit from these lessons well.
I have been trading for more than 5 years and I am still learning from my mistakes until now, there is no 100% successful strategy, you have to always change your strategies and adapt according to the circumstances and variables, so when the trader feels that he has mastered everything, then failure and loss will begin.
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In my year of trading and learning we get to understand that the learning don't stop to every SL and account blown you take something away from it no matter how small it is you learn from your mistakes that's what makes you grow into a better trader.
Many traders are actually not profitable and this is mostly because of the fact that they don't actually have a real analysis they make use of most times they are either busy trying their luck or testing out circulating strategies on some social media platforms which most times don't work.
Trading requires a lot of things and some of the major ones are analysis, capital and also a good psychology. The better your ability to balance and manage them the easier your journey.
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Physiology is key when it comes to trading most traders don't when to say let end the day with this trade once they've made profit they think the market is their play ground and start feeling superior to the market, I'm sorry my friend no one can be 100% sure.
I'll like to hear your thoughts on how you've been able to survive in this space as we keep learning everyday.
This practise is under estimated but keep practising the strategies and finding more ways to make analysis of the market will always open new ways to enter the market and more analysis will give us more opportunities to make profit.
No one has to be 100% perfect in their trades because we can't. We can make a predictipon on analysis base and we can stick to it for 100% gain but we don't always win that trade therefore we should set higher profits and close lower and SL should be placed to avoid 100% lose.
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Physiology is key when it comes to trading most traders don't when to say let end the day with this trade once they've made profit they think the market is their play ground and start feeling superior to the market, I'm sorry my friend no one can be 100% sure.
I'll like to hear your thoughts on how you've been able to survive in this space as we keep learning everyday.
This practise is under estimated but keep practising the strategies and finding more ways to make analysis of the market will always open new ways to enter the market and more analysis will give us more opportunities to make profit.
No one has to be 100% perfect in their trades because we can't. We can make a predictipon on analysis base and we can stick to it for 100% gain but we don't always win that trade therefore we should set higher profits and close lower and SL should be placed to avoid 100% lose.
The shit part of this is that whenever someone do experience up some few loses then they would really making up some conclusions that trading is hard and not something that could be learn or something on which it will really be that impossible. Mistakes are indeed just part of the process because we are still on learning phase on which its normal that there will really be those times or conditions that you will be that discourage specially if you had been that experiencing some consecutive loses and will really be that having that discouragement and this is why you wont pursue out, but for those who are really that eager or wanting to learn trading then they are the ones who do really be able to sustain.
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Physiology is key when it comes to trading most traders don't when to say let end the day with this trade once they've made profit they think the market is their play ground and start feeling superior to the market, I'm sorry my friend no one can be 100% sure.
I'll like to hear your thoughts on how you've been able to survive in this space as we keep learning everyday.
This practise is under estimated but keep practising the strategies and finding more ways to make analysis of the market will always open new ways to enter the market and more analysis will give us more opportunities to make profit.
No one has to be 100% perfect in their trades because we can't. We can make a predictipon on analysis base and we can stick to it for 100% gain but we don't always win that trade therefore we should set higher profits and close lower and SL should be placed to avoid 100% lose.
I agree with you, we have to get higher profits to cover our losses because in crypto trading we don't always win. Sometimes we experience wrong analysis and strategy.
that is the function of risk and financial management so that we can get profit in all the trades we do.
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I agree with you, we have to get higher profits to cover our losses because in crypto trading we don't always win. Sometimes we experience wrong analysis and strategy.
that is the function of risk and financial management so that we can get profit in all the trades we do.
And it's okay to have a bad session here and there.
That's the point - the main thing is to have a ratio of good trades bigger than the bad ones and to manage risks accordingly.
Trading is about adaptation and there is much to learn in each aspect of it.
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Controlling your emotions inside the trading management is more important. Because the unstable mental state can prevent the decision of making process. There is a time where you suddenly will be harmed and it is time you can to lose money. So learn how to control your emotions and desires.
Moreover, learn from your mistakes because there are many people who cannot learn even after making mistakes. Then analyzing and working on mistakes are the most important part of a successful trading. Use only for trading whose losses will not create any deficit in the family budget.
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Controlling your emotions inside the trading management is more important. Because the unstable mental state can prevent the decision of making process. There is a time where you suddenly will be harmed and it is time you can to lose money. So learn how to control your emotions and desires.
Moreover, learn from your mistakes because there are many people who cannot learn even after making mistakes. Then analyzing and working on mistakes are the most important part of a successful trading. Use only for trading whose losses will not create any deficit in the family budget.
Talking about this, we will not be far from also talking about knowledge. Because whatever it is, be it emotional control, risk and financial management to technical and fundamental analysis, we will not know all of that without knowledge.
So the emphasis here is whether we are ready to learn or not. That is the thing that I think is most important before actually trading or anything else.
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I have been trading for more than 5 years and I am still learning from my mistakes until now, there is no 100% successful strategy, you have to always change your strategies and adapt according to the circumstances and variables, so when the trader feels that he has mastered everything, then failure and loss will begin.
Why is there no motivational word at all in this sentence? Whereas for people who are willing to learn and gain good knowledge about trading, they should have a better chance and often gain profit in trading... so, when will someone start to be able to enjoy something fun like being a trader who always wins?
No matter how logical it is, trading still has a lucky side, someone who is lucky will of course get profit... even if he is careless, as long as he is lucky, he wins.
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I have been trading for more than 5 years and I am still learning from my mistakes until now, there is no 100% successful strategy, you have to always change your strategies and adapt according to the circumstances and variables, so when the trader feels that he has mastered everything, then failure and loss will begin.
Why is there no motivational word at all in this sentence? Whereas for people who are willing to learn and gain good knowledge about trading, they should have a better chance and often gain profit in trading... so, when will someone start to be able to enjoy something fun like being a trader who always wins?
No matter how logical it is, trading still has a lucky side, someone who is lucky will of course get profit... even if he is careless, as long as he is lucky, he wins.
Trading is not profitable by luck but by experience, because if you are trading without a grounded knowledge on trading, and you only depend on luck, you will run at big loss. Trading is not for you because you are only gambling. It's not compulsory to trade if you don't have ths patience to learn and resources. You can simply be a hodler.
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I have been trading for more than 5 years and I am still learning from my mistakes until now, there is no 100% successful strategy, you have to always change your strategies and adapt according to the circumstances and variables, so when the trader feels that he has mastered everything, then failure and loss will begin.
Why is there no motivational word at all in this sentence? Whereas for people who are willing to learn and gain good knowledge about trading, they should have a better chance and often gain profit in trading... so, when will someone start to be able to enjoy something fun like being a trader who always wins?
No matter how logical it is, trading still has a lucky side, someone who is lucky will of course get profit... even if he is careless, as long as he is lucky, he wins.
Yes, there is no motivational word in that because simply the trader must realize that he is dealing with a very volatile and risky market, so having motivational words may cause the trader to take things easy and this may cause him big losses, so it is safe to keep the possibility of loss in front of his eyes always.
But in the end, as you mentioned, luck sometimes plays a big role in trading, so it may happen that some lucky people win huge amounts of money without much experience.
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I have been trading for more than 5 years and I am still learning from my mistakes until now, there is no 100% successful strategy, you have to always change your strategies and adapt according to the circumstances and variables, so when the trader feels that he has mastered everything, then failure and loss will begin.
Why is there no motivational word at all in this sentence? Whereas for people who are willing to learn and gain good knowledge about trading, they should have a better chance and often gain profit in trading... so, when will someone start to be able to enjoy something fun like being a trader who always wins?
No matter how logical it is, trading still has a lucky side, someone who is lucky will of course get profit... even if he is careless, as long as he is lucky, he wins.
Trading is not profitable by luck but by experience, because if you are trading without a grounded knowledge on trading, and you only depend on luck, you will run at big loss. Trading is not for you because you are only gambling. It's not compulsory to trade if you don't have ths patience to learn and resources. You can simply be a hodler.
Yes,this is not gambling that you can do here by luck. If we look a little, we can see that there are many brothers who come to this new market without knowing about the market and without understanding about trading, they come straight to training and later they face losses. I will tell those brothers that it is Joanna who will make a difference on your luck. If you know about trading and have an idea about the market, then you can be profitable from here. And you have to be very patient while doing this training. Because after investing in a currency, if you cannot hold it for a long time, then you will never be able to make a good profit from here and will be in danger of further losses. I think that before we come to trading, we should know everything about trading and crypto currency and then come to training.
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In my year of trading and learning we get to understand that the learning don't stop to every SL and account blown you take something away from it no matter how small it is you learn from your mistakes that's what makes you grow into a better trader.
For every trader interested in being successful learning never stops, and even after you have been successful learning still never stops because the market is dynamic and things are always changing so the better you keep perfecting your strategy to keep higher the chance of remaining successful in the market as a trader.
After mastery of the emotional side of trade, mastering risk management should be prioritised.
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In my year of trading and learning we get to understand that the learning don't stop to every SL and account blown you take something away from it no matter how small it is you learn from your mistakes that's what makes you grow into a better trader.
For every trader interested in being successful learning never stops, and even after you have been successful learning still never stops because the market is dynamic and things are always changing so the better you keep perfecting your strategy to keep higher the chance of remaining successful in the market as a trader.
After mastery of the emotional side of trade, mastering risk management should be prioritised.
Learning in the trading world is therefore cumulative and continuous to anyone who wishes to advance more in the fields. Again, this market is dynamic and all has to change to ensure that they do not end up lagging behind in the market. Any strategy that one may implement works well in one condition but not in another condition hence refining this manner or way of carrying out is a process that has to be done over and over. However, the role of emotions in trading cannot be underestimated since many individuals end up making the wrong decision owing to some of the feelings they have. After that, risk management becomes something that has to be done appropriately because, were it not for risk management, the profits made can easily be easily wiped out in a short span of time.
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For every trader interested in being successful learning never stops, and even after you have been successful learning still never stops because the market is dynamic and things are always changing so the better you keep perfecting your strategy to keep higher the chance of remaining successful in the market as a trader.
Well, I think that trading should be considered a Professional career , because you are always learning new things and this is something that is always evident, that is why every time we trade we are somehow aware of not making the same mistakes that previously made us lose.
This is not a guarantee, sometimes we make the same Mistake but in different circumstances, that is why every time we trade we must be careful, we must not spend our money in vain.
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For every trader interested in being successful learning never stops, and even after you have been successful learning still never stops because the market is dynamic and things are always changing so the better you keep perfecting your strategy to keep higher the chance of remaining successful in the market as a trader.
Well, I think that trading should be considered a Professional career , because you are always learning new things and this is something that is always evident, that is why every time we trade we are somehow aware of not making the same mistakes that previously made us lose.
This is not a guarantee, sometimes we make the same Mistake but in different circumstances, that is why every time we trade we must be careful, we must not spend our money in vain.
Trading is a skill that requires constant learning making it more like a profession than just a hobby. Mistakes can happen even with experience but the key is to analyze them and adapt. A strong strategy, risk management and discipline are essential for long term success. While profits aren't guaranteed, treating trading professionally increases the chances of consistent growth.
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Trading is a skill that requires constant learning making it more like a profession than just a hobby. Mistakes can happen even with experience but the key is to analyze them and adapt. A strong strategy, risk management and discipline are essential for long term success. While profits aren't guaranteed, treating trading professionally increases the chances of consistent growth.
I consider trading to be a profession, in fact there should be a profession of trading, where there is a deep Study of the market and so each theory, each method that exists can be seen as one of the best tools, Because if we look at it, the market teaches us something new every day and that is something that Cannot be Denied.
Everything that is done in trading is Possibly Innovative, that it works or that it does not work depending on what has been seen as fundamental or in a corresponding Eventuality.
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Trading is a skill that requires constant learning making it more like a profession than just a hobby. Mistakes can happen even with experience but the key is to analyze them and adapt. A strong strategy, risk management and discipline are essential for long term success. While profits aren't guaranteed, treating trading professionally increases the chances of consistent growth.
I consider trading to be a profession, in fact there should be a profession of trading, where there is a deep Study of the market and so each theory, each method that exists can be seen as one of the best tools, Because if we look at it, the market teaches us something new every day and that is something that Cannot be Denied.
Everything that is done in trading is Possibly Innovative, that it works or that it does not work depending on what has been seen as fundamental or in a corresponding Eventuality.
Success or failure in trading depends on each person's ability to make analysis and develop the right strategy.
Trading is a profession, so we have to do it professionally in order to achieve the profit we are targeting.
I agree with people who say that becoming an expert in trading takes a long time.
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Trading is a skill that requires constant learning making it more like a profession than just a hobby. Mistakes can happen even with experience but the key is to analyze them and adapt. A strong strategy, risk management and discipline are essential for long term success. While profits aren't guaranteed, treating trading professionally increases the chances of consistent growth.
I consider trading to be a profession, in fact there should be a profession of trading, where there is a deep Study of the market and so each theory, each method that exists can be seen as one of the best tools, Because if we look at it, the market teaches us something new every day and that is something that Cannot be Denied.
Everything that is done in trading is Possibly Innovative, that it works or that it does not work depending on what has been seen as fundamental or in a corresponding Eventuality.
Success or failure in trading depends on each person's ability to make analysis and develop the right strategy.
Trading is a profession, so we have to do it professionally in order to achieve the profit we are targeting.
I agree with people who say that becoming an expert in trading takes a long time.
I agree, cryptocurrency trading is not easy. And we can't learn instantly to become a professional trader, it takes a long time to learn and gain experience. And seriousness in learning will make us a professional trader, but it's not easy.
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I agree, cryptocurrency trading is not easy. And we can't learn instantly to become a professional trader, it takes a long time to learn and gain experience. And seriousness in learning will make us a professional trader, but it's not easy.
Let's talk about the work of a pro trader: he wakes up in the morning, eats pastries and coffee before opening 6 screens to monitor the market and trade. He analyzes everything for 1 hour, then places about 10 orders and reads books or takes a walk. At the end of the day, he checks the results of the orders and closes the unfinished orders. He earns a lot of money from light work, he doesn't have to work hard and he has a lot of time for himself and his family.
That's what many people think about the trader profession, they also want to become successful like that. That ambition is not wrong, it's just bigger than their actual capacity. To become a pro trader, a person needs to study hard and practice seriously for many years, and also needs extremely effective capital and psychological management to avoid wrong decisions. I love the trader profession but have not yet achieved this goal ^^
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The shit part of this is that whenever someone do experience up some few loses then they would really making up some conclusions that trading is hard and not something that could be learn or something on which it will really be that impossible. Mistakes are indeed just part of the process because we are still on learning phase on which its normal that there will really be those times or conditions that you will be that discourage specially if you had been that experiencing some consecutive loses and will really be that having that discouragement and this is why you wont pursue out, but for those who are really that eager or wanting to learn trading then they are the ones who do really be able to sustain.
You mean those who consistently do trading despite making lose are the ones who will be making profit all the time while those who are no consistent will be knocked out of the market and newcomers will replace them because this will continue forever newcomers will join trading and only the consistent ones will be making money.
Consistent is not enough because we need proper strategy and analysis too without both we can't make profit even if we consistently making profit or lose.
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The shit part of this is that whenever someone do experience up some few loses then they would really making up some conclusions that trading is hard and not something that could be learn or something on which it will really be that impossible. Mistakes are indeed just part of the process because we are still on learning phase on which its normal that there will really be those times or conditions that you will be that discourage specially if you had been that experiencing some consecutive loses and will really be that having that discouragement and this is why you wont pursue out, but for those who are really that eager or wanting to learn trading then they are the ones who do really be able to sustain.
You mean those who consistently do trading despite making lose are the ones who will be making profit all the time while those who are no consistent will be knocked out of the market and newcomers will replace them because this will continue forever newcomers will join trading and only the consistent ones will be making money.
Consistent is not enough because we need proper strategy and analysis too without both we can't make profit even if we consistently making profit or lose.
consistent but not accompanied by proper risk and financial management will also make us lose. so you are right, in our consistency in trading we must have the right knowledge and analysis in order to make a profit.
so we can be consistent in making a profit.
Trading requires experience and knowledge that makes a trader have skills in trading. We must always be consistent in practicing.
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so we can be consistent in making a profit.
Trading requires experience and knowledge that makes a trader have skills in trading. We must always be consistent in practicing.
And don't fall into the same trap or mistake after going through various challenges in trading.
Trading skills start from learning the basics first and it will continue to evolve over time with the trading practice that continues to be done.
I also do it and start small, do everything self-taught and certainly don't have to depend on others.
It just takes enthusiasm to keep moving forward and developing.
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"Buy low and sell High", is the very basic strategy of trading and every strategy we construct works along with it so it can be anything like deep technical analysis using reliable indicators or simply go with the fundamental analysis but at the end of the day you need to make profits and better don't sell before that. But we also find ourselves in the liquidation of altcoins which is inevitable and we can't really do anything to stop it.
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Indeed, experience is a very valuable thing in crypto trading. because from experience, both good and bad, will make us more aware and understand what we should do next, whether to change the strategy, or change a little strategy, or make adjustments, or just stay because it is considered in accordance with the results.
Now this evaluation process will affect the actions taken next. For me personally, I always look at how the FA and TA aspects are, then, with that, it usually moves on to indicator analysis, and others. and yes], patience is one of the most important key factors.
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Indeed, experience is a very valuable thing in crypto trading. because from experience, both good and bad, will make us more aware and understand what we should do next, whether to change the strategy, or change a little strategy, or make adjustments, or just stay because it is considered in accordance with the results.
Now this evaluation process will affect the actions taken next. For me personally, I always look at how the FA and TA aspects are, then, with that, it usually moves on to indicator analysis, and others. and yes], patience is one of the most important key factors.
Nowadays, we see a lot of people posting screenshots of their losses on social media platforms or even in exchanges where you can make posts, such as in Binance, where people post in the feed. The main reason behind these losses is that there is a common misconception among newbies that earning money from futures trading is easy, and this misconception makes them enter the market without proper knowledge or prior experience, and they start making trades with high leverages while going with their guts.
People need to understand that trading doesn't work that way, if you want to go with your gut feelings then you should be in a gambling platform and not an exchange because gambling might serve you better since you might hit a lucky spin and get some money back but in trading you will most likely lose everything without any gains.
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I have to admit that am not good yet at trading and in fact this is something that am quite afraid of to get into though I usually trade my coins/tokens in the past. At the same time, I believe that trading can be a good profession because here once you already established your skills and that innate understanding of the market you can work anytime, anywhere you want to especially in the cryptocurrency market. I said skills because without those one is better not to tackle trading but learning the skills can come with time and experience so one has to never give up in case of mistakes and hindrances. The right attitude, right understanding and right mindset towards trading can make someone be successful in this area...and one can use this tool for a lifetime with unlimited potential.
- Even though I admit that I am still far from the level of being a trading expert, I do have an idea and know a little about the basics of trading.
And you are right that if we just have the right understanding and the right mindset, it can help us be successful in the end.It's up to us what else we should add to help us achieve the trading success we want to achieve in the future. Just keep learning and don't stop.
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consistent but not accompanied by proper risk and financial management will also make us lose. so you are right, in our consistency in trading we must have the right knowledge and analysis in order to make a profit.
so we can be consistent in making a profit.
Trading requires experience and knowledge that makes a trader have skills in trading. We must always be consistent in practicing.
I forgot to mention sometimes we should stop, and that is necessary because there are times when the market is not in our favor and we have to stop trading if we don't, we would just be losing money, and that is not good.
Over-trading should not be confused with consistency because that is another thing we should avoid, and calling it consistency is not good. Because when we overtrade we make profit and lose more, therefore, controlling our emotions and finding peace with loss even if we have to stop the trade for now should be our characteristic.
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Trading is a skill that requires constant learning making it more like a profession than just a hobby. Mistakes can happen even with experience but the key is to analyze them and adapt. A strong strategy, risk management and discipline are essential for long term success. While profits aren't guaranteed, treating trading professionally increases the chances of consistent growth.
Trading will always bring both things, profits and losses, but there is something that must be maintained or at least always made to be fulfilled, and if it is not fulfilled, then there is something that must be corrected and until it is corrected , one should not operate any more, and it is simple, the income must be greater than the losses, because otherwise we are not seeing trade in the right way, we are seeing it in a very wrong way and everything will turn out very badly for us.
So that is what must always be considered, not being part of the statistics.
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Trading is a skill that requires constant learning making it more like a profession than just a hobby. Mistakes can happen even with experience but the key is to analyze them and adapt. A strong strategy, risk management and discipline are essential for long term success. While profits aren't guaranteed, treating trading professionally increases the chances of consistent growth.
Trading will always bring both things, profits and losses, but there is something that must be maintained or at least always made to be fulfilled, and if it is not fulfilled, then there is something that must be corrected and until it is corrected , one should not operate any more, and it is simple, the income must be greater than the losses, because otherwise we are not seeing trade in the right way, we are seeing it in a very wrong way and everything will turn out very badly for us.
So that is what must always be considered, not being part of the statistics.
In every trading transaction, there is always a gain or a loss that a trader has to bear. The key is to ensure that the profit surpass the losses level and this can only be achieved through proper management. If the situation is not to our surprise, it will be appropriate to analyse the actions that have been made before going back to trading. It is stated that trading without making sure that the strategy is valid is dangerous and only leads to increased losses. It is impossible simply tag along or make it a practise without measurement each time likewise. Any action to be implemented must not be on the basis of the hope. If things are not progressing properly then it is better to take a pause for a whereas, correct own’s concepts and make sure that each further push is made on a comparatively stronger ground.
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"Buy low and sell High", is the very basic strategy of trading and every strategy we construct works along with it so it can be anything like deep technical analysis using reliable indicators or simply go with the fundamental analysis but at the end of the day you need to make profits and better don't sell before that. But we also find ourselves in the liquidation of altcoins which is inevitable and we can't really do anything to stop it.
- Yep that's the basic things at least they should know especially if they are only a beginners. It's easy to understand and the only difficult thing to do
is reading the chart or doing technical and fundamental analysis.
That's because of those two things that many traders fail to do when they themselves do the actual analysis of the coin they are trading,
regardless of the exchange they are using.
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Success or failure in trading depends on each person's ability to make analysis and develop the right strategy.
Trading is a profession, so we have to do it professionally in order to achieve the profit we are targeting.
I agree with people who say that becoming an expert in trading takes a long time.
Yes, trading is a fact that is considered something for professionals, they have a lot of knowledge, I would put it in the field of science, because it is very complete, however this is something that can be very good when it is treated as a professional, since as I have said, I consider that a professional trader is when he is able to move at least $1M, in that sense I consider a person to be a professional trader.
And yes, to become successful I consider that it takes time and Study, apart from having the corresponding experience.
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Trading is a skill that requires constant learning making it more like a profession than just a hobby. Mistakes can happen even with experience but the key is to analyze them and adapt. A strong strategy, risk management and discipline are essential for long term success. While profits aren't guaranteed, treating trading professionally increases the chances of consistent growth.
Trading will always bring both things, profits and losses, but there is something that must be maintained or at least always made to be fulfilled, and if it is not fulfilled, then there is something that must be corrected and until it is corrected , one should not operate any more, and it is simple, the income must be greater than the losses, because otherwise we are not seeing trade in the right way, we are seeing it in a very wrong way and everything will turn out very badly for us.
So that is what must always be considered, not being part of the statistics.
Trading could really that incur loses and winnings on which it will really be that up to you on how you do make up such adjustment or on how you would really be able to go with the flow in speaking about market volatility on which this isnt really that could really be predicted on where it would really be that heading. When you do make up some trading they key criteria will really be that common or something which is really that known.
1. Good emotion handling
2. Good risk maangement
3. Skills on TA/FA analysis
4. Make Plan B's when A's do fail out.
We cant be that perfect traders but doesnt mean that we will really be that following even with these basics and the rest of skills
will be that known along the way.
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I think what your experience in trading has proven is real that in the end, many cannot control themselves to continue chasing things that have been done with bad results but continue to do them again.
Very wise advice from you that it is not right to continue chasing losses that have been made and trying to take them back and usually, as you experienced that, it will not happen and you will lose again.
yes it is, in fact many of those decisions I made because of the helplessness of waiting and nothing good came out of it, sometimes one operates out of pure rage or something, and that is something that should be avoided, I know that this has happened to many, maybe it has worked out for some, but it is something that should not be done, we as humans make mistakes, but when it comes to things that have to do with money, we should be a little smarter, more intelligent and stop so as not to lose, and as many times stop and not continue than continue and lose.
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If we first enter into trading, we need to know the basic principles. Before we start trading, we need to have a lot of ideas about trading, we need to gain a lot of knowledge about trading and along with this, we need a lot of patience. Most of those who have this patience can be successful in trading. Because trading basically requires patience and time, if we trade for short periods of time, we cannot be very profitable, but if we trade for long periods of time, then we have a chance of being very profitable. What we are basically talking about is that we first need to gain knowledge about trading, we need to know about the market, because if we do not know these, then we will never be profitable in trading, we will always be in loss.
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In every trading transaction, there is always a gain or a loss that a trader has to bear. The key is to ensure that the profit surpass the losses level and this can only be achieved through proper management. If the situation is not to our surprise, it will be appropriate to analyse the actions that have been made before going back to trading. It is stated that trading without making sure that the strategy is valid is dangerous and only leads to increased losses. It is impossible simply tag along or make it a practise without measurement each time likewise. Any action to be implemented must not be on the basis of the hope. If things are not progressing properly then it is better to take a pause for a whereas, correct own’s concepts and make sure that each further push is made on a comparatively stronger ground.
Well in 2017 having an account in Bitfinex was something very expensive, just depositing funds was worth having some money taken out of it, so it was something that could be difficult for many, however the biggest shorts in 2017 flowed from there and that was what defined the market at one point, that's why Bitfinex was then investigated, now I honestly don't know how Bitfinex worked, but it had some somewhat high fees, so I don't know if they still maintain those types of fees when operating.
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Trading require patience, discipline, dedication, selflessness, commitment, honesty, trustworthy, contentment, loyalty and understanding, These are some key criteria needed when it comes to trading and there are still more to it.
If an individual does not acquire knowledge before starting trading he will be indiscipline and ignorant and he will lack the ability to stay committed to trading. It is very important for a trader to be patient and composed, he should not let his emotions get him and he should not be afraid of missing out and also avoid greediness because it will lead to impulsive decisions and reckless risk taking which may cause him a greater lose.
Acquiring knowledge is very important in trading because it will serve as a guideline for the trader. Lose is common in trading and cannot be totally prevented but can be minimize. mistakes in trading helps a trader to gain new knowledge and experience in trading.
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I have been trading for more than 5 years and I am still learning from my mistakes until now, there is no 100% successful strategy, you have to always change your strategies and adapt according to the circumstances and variables, so when the trader feels that he has mastered everything, then failure and loss will begin.
Why is there no motivational word at all in this sentence? Whereas for people who are willing to learn and gain good knowledge about trading, they should have a better chance and often gain profit in trading... so, when will someone start to be able to enjoy something fun like being a trader who always wins?
No matter how logical it is, trading still has a lucky side, someone who is lucky will of course get profit... even if he is careless, as long as he is lucky, he wins.
true, no matter how much profit from trading is a success, especially for novice traders, being pessimistic about seeking profit in trading is one thing that is detrimental, where in every trade it will definitely provide lessons and can be a reference for us in the future when we will trade
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When we are talk about the Key criteria about trading for me first come to the mind is the RANGE of price.
1) Support and resistance is key role while we are trading the market.
2) Market 95% times playing within range, So be patience while trading.
3) Fund management, Crypto is high volatile market so while doing trading in crypto market you need to keep Stop loss and manage the risk as crypto can Pump and dump highly at any time.
4) Do not rush to buying huge quantity, Most of trader doing scalping by buying huge quantity but it will not work all time so better to keep quantity minimum as loss affordable and focused on Right entry for buying.
5) Buy in Red and Sale in Green, Crypto is giving many opportunity like Red day for shopping so we just need to have patience and buy on red day so we can enjoy Green Day.
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I have been trading for more than 5 years and I am still learning from my mistakes until now, there is no 100% successful strategy, you have to always change your strategies and adapt according to the circumstances and variables, so when the trader feels that he has mastered everything, then failure and loss will begin.
Why is there no motivational word at all in this sentence? Whereas for people who are willing to learn and gain good knowledge about trading, they should have a better chance and often gain profit in trading... so, when will someone start to be able to enjoy something fun like being a trader who always wins?
No matter how logical it is, trading still has a lucky side, someone who is lucky will of course get profit... even if he is careless, as long as he is lucky, he wins.
true, no matter how much profit from trading is a success, especially for novice traders, being pessimistic about seeking profit in trading is one thing that is detrimental, where in every trade it will definitely provide lessons and can be a reference for us in the future when we will trade
Knowledge for now is more important to newbies traders because if they don't go for knowledge you would see them constantly losing and blowing off their account balance. Truth must be told, no newbies are expected to make profits from trading instead could keep practicing and gaining more knowledge before finally delving into trading full time.
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Knowledge for now is more important to newbies traders because if they don't go for knowledge you would see them constantly losing and blowing off their account balance. Truth must be told, no newbies are expected to make profits from trading instead could keep practicing and gaining more knowledge before finally delving into trading full time.
It's about knowledge and proper risk-management.
One comes from another, and it's very important for the newbies, I definitely agree with you.
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"Buy low and sell High", is the very basic strategy of trading and every strategy we construct works along with it so it can be anything like deep technical analysis using reliable indicators or simply go with the fundamental analysis but at the end of the day you need to make profits and better don't sell before that. But we also find ourselves in the liquidation of altcoins which is inevitable and we can't really do anything to stop it.
Buying low and selling high is still at the elementary level of trading. Buying at low at certain price can be broken to many more "New Low' price levels,and there is no market guarantee of the stability of price at any entrance prices level. When a trader make a buy position at certain price, if the price breaks below his buy position or dump, it is possible that his entry positions, which may be a support, may become the resistance, or he may be trading below the resistance levels.
Trading cryptocurrency with buying low and selling high ideas is a good strategy but has many factors that can cause delay on a traders selling high like market dumps.
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Knowledge for now is more important to newbies traders because if they don't go for knowledge you would see them constantly losing and blowing off their account balance. Truth must be told, no newbies are expected to make profits from trading instead could keep practicing and gaining more knowledge before finally delving into trading full time.
It's about knowledge and proper risk-management.
One comes from another, and it's very important for the newbies, I definitely agree with you.
After some level of education and practicing then they can start thinking about how to trade and make money from their trading account, usually knowledge is very important and crucial for all traders and when it's gained its that easier for them to start generating at least few dollars from their daily trading.
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When we are talk about the Key criteria about trading for me first come to the mind is the RANGE of price.
1) Support and resistance is key role while we are trading the market.
2) Market 95% times playing within range, So be patience while trading.
3) Fund management, Crypto is high volatile market so while doing trading in crypto market you need to keep Stop loss and manage the risk as crypto can Pump and dump highly at any time.
4) Do not rush to buying huge quantity, Most of trader doing scalping by buying huge quantity but it will not work all time so better to keep quantity minimum as loss affordable and focused on Right entry for buying.
5) Buy in Red and Sale in Green, Crypto is giving many opportunity like Red day for shopping so we just need to have patience and buy on red day so we can enjoy Green Day.
These 5 points are the main points that a trader should keep in mind then they can never make huge losses but only profit but only experienced traders with 5+ years of experience can follow all these steps. A newbie cannot follow all these rule, they can only follow few of these.
Newbie have already bought in green and now selling in red, due to market's bad condition, they always rush to buy more token and mistakenly or intentionally buy all the coins with funds they have in one go, they don't have first buying or second buying thing in their mind they just don't know how to manage average buying price to increase the profit. This education is very important.
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When we are talk about the Key criteria about trading for me first come to the mind is the RANGE of price.
1) Support and resistance is key role while we are trading the market.
2) Market 95% times playing within range, So be patience while trading.
3) Fund management, Crypto is high volatile market so while doing trading in crypto market you need to keep Stop loss and manage the risk as crypto can Pump and dump highly at any time.
4) Do not rush to buying huge quantity, Most of trader doing scalping by buying huge quantity but it will not work all time so better to keep quantity minimum as loss affordable and focused on Right entry for buying.
5) Buy in Red and Sale in Green, Crypto is giving many opportunity like Red day for shopping so we just need to have patience and buy on red day so we can enjoy Green Day.
These 5 points are the main points that a trader should keep in mind then they can never make huge losses but only profit but only experienced traders with 5+ years of experience can follow all these steps. A newbie cannot follow all these rule, they can only follow few of these.
Newbie have already bought in green and now selling in red, due to market's bad condition, they always rush to buy more token and mistakenly or intentionally buy all the coins with funds they have in one go, they don't have first buying or second buying thing in their mind they just don't know how to manage average buying price to increase the profit. This education is very important.
Newbie are attract from influencer who Shaw them 50X ,100X story to social media and Newbie have no experience about the levels of any price for newbie it better to invest in part and try catch the good projects and just HOLD for good return.
Trading required lots of Patience and knowledge of other market also to setup the trade.
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Newbie are attract from influencer who Shaw them 50X ,100X story to social media and Newbie have no experience about the levels of any price for newbie it better to invest in part and try catch the good projects and just HOLD for good return.
Trading required lots of Patience and knowledge of other market also to setup the trade.
Agreed. Hodl for stability, trading - for the potential of it.
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Newbie are attract from influencer who Shaw them 50X ,100X story to social media and Newbie have no experience about the levels of any price for newbie it better to invest in part and try catch the good projects and just HOLD for good return.
Trading required lots of Patience and knowledge of other market also to setup the trade.
It is still the misatke of newbies, they have minds and all of us are intellectual, and even with the existence of these AIs we all can ask any question to them and they will give us realistic answers, and we can learn the truth that these influencers are selling by lying.
Once we know we can't make direct 50x or 100x in one trade in the first trade ever, only the ones chosen by god who take huge risk by investing in multiple famous coins get this opportunity most of the time.
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Newbie are attract from influencer who Shaw them 50X ,100X story to social media and Newbie have no experience about the levels of any price for newbie it better to invest in part and try catch the good projects and just HOLD for good return.
Trading required lots of Patience and knowledge of other market also to setup the trade.
This isn't about just newbie character, it's the nature of human being with money, they get excited when somebody share their stories on how they made money from Bitcoin and instead of them to be asking real questions how they did it and the risks that are involved, they don't do that they just went straight to ask how they can do it and make the money too.
This is where they do get new that are new to trading, most of the time those profit they show off might be the only thing they have earned in a while, if you should go through their trading history, the losses you will see wouldn't be something to talk about.
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This is where they do get new that are new to trading, most of the time those profit they show off might be the only thing they have earned in a while, if you should go through their trading history, the losses you will see wouldn't be something to talk about.
Hahaha that's a history that doesn't need to be told to look like a successful trader by always getting a win on every trade, even though behind it all there are many losses that happen.
Many influencers claim to be professional traders but they are not honest with the losses that have occurred, because a bad image will lower their followers.
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This is where they do get new that are new to trading, most of the time those profit they show off might be the only thing they have earned in a while, if you should go through their trading history, the losses you will see wouldn't be something to talk about.
Hahaha that's a history that doesn't need to be told to look like a successful trader by always getting a win on every trade, even though behind it all there are many losses that happen.
Many influencers claim to be professional traders but they are not honest with the losses that have occurred, because a bad image will lower their followers.
You are right they only talk about winning when in trading we can't always win. That's how influencers work because they want to get followers.
We should not follow them and we must have our own analysis and strategy so that we have skills in trading.
Because trading requires learning and always practicing
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You are right they only talk about winning when in trading we can't always win. That's how influencers work because they want to get followers.
We should not follow them and we must have our own analysis and strategy so that we have skills in trading.
Because trading requires learning and always practicing
Theory and practice should be done rather than just following influencers who only have certain goals for their own benefit.
They are also paid by platforms that endorse them up to or some certain coins.
Learning how to do technical and fundamental analysis will be very useful, it is a basic knowledge that must be mastered by beginner traders, without knowing technical and fundamental analysis it is difficult to see how the market will move.
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Yes, there is a lot and a lot for traders to learn, every day you can discover something new to learn and the biggest teacher of trading is the mistakes you make, so you have to benefit from these lessons well.
I have been trading for more than 5 years and I am still learning from my mistakes until now, there is no 100% successful strategy, you have to always change your strategies and adapt according to the circumstances and variables, so when the trader feels that he has mastered everything, then failure and loss will begin.
Actually trading strategies shouldn't be one way because of the market dynamics, it is a good idea to change strategy for trading improvements, experiences and to enhance profitability over times.
In addition, there is no trading without profit or loss outcome despite different trading strategies, and because it is difficult to predict the market, there is bound to be sudden market dumps that will send the traders to losses at certain periods.
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Patience, resilience, and ability to adapt.
Managing the risks is also very important. Maybe the most important thing ever.
Just as the ops said, every Stop loss or liquidation hitting in trading leaves the trader with at least a lesson and the most important part of it all is that such lessons remain with us for life as long as we keep trading crypto, and after that, we come to the characters that we build along the line and that is where all the attributes and characteristics you mentioned comes into play.
I agree that no cryptocurrency trader can survive the market without all that you have mentioned above patience is very important because a lack of patience can push somebody into chasing their loss if they have available cash flow thinking they want to take advantage of a down market whereas there don't know the limits that the dip will go.
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I'll like to hear your thoughts on how you've been able to survive in this space as we keep learning everyday.
Loving the thing we are even learning, can be another key... like, we are even willing not to be paid to find out the formula for trading so that we can win continuously, but it turns out that in learning we find some benefits, that's like another bonus, right? Like we are seeking knowledge, but the market gives us profit... how unhappy is someone who is learning trading but gets a lot of income...
What if someone loses? Well, at least he gets experience and learning, right? While the losses he experiences are only the cost of that learning... all of that if it is based on love... and this will make consistency last longer.
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"Buy low and sell High", is the very basic strategy of trading and every strategy we construct works along with it so it can be anything like deep technical analysis using reliable indicators or simply go with the fundamental analysis but at the end of the day you need to make profits and better don't sell before that. But we also find ourselves in the liquidation of altcoins which is inevitable and we can't really do anything to stop it.
Buying low and selling high is still at the elementary level of trading. Buying at low at certain price can be broken to many more "New Low' price levels,and there is no market guarantee of the stability of price at any entrance prices level. When a trader make a buy position at certain price, if the price breaks below his buy position or dump, it is possible that his entry positions, which may be a support, may become the resistance, or he may be trading below the resistance levels.
Trading cryptocurrency with buying low and selling high ideas is a good strategy but has many factors that can cause delay on a traders selling high like market dumps.
- You know that in trading, the simple basic rules are buy low, sell high. Literally speaking, it's easy to understand, right? The only difficult thing is to study it thoroughly, but usually there are big problems with execution. Which means there is still something missing.
So with the many trading strategies that can be used, we should only use one or two to 3 so that it doesn't get complicated in the end, it seems that this strategy
will be our warning sign on where we should take an entry whether long or short position.
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I'll like to hear your thoughts on how you've been able to survive in this space as we keep learning everyday.
Loving the thing we are even learning, can be another key... like, we are even willing not to be paid to find out the formula for trading so that we can win continuously, but it turns out that in learning we find some benefits, that's like another bonus, right? Like we are seeking knowledge, but the market gives us profit... how unhappy is someone who is learning trading but gets a lot of income...
What if someone loses? Well, at least he gets experience and learning, right? While the losses he experiences are only the cost of that learning... all of that if it is based on love... and this will make consistency last longer.
When it comes to formunla, then we are the ones who will really be making out or trying to find it out on which copying someone might do but there are other factors on which it will really be affecting out in overall outcome or results. This is why its really that important that you do really know on what you are really that indeed doing when you do make out some trades. Trading is a skills that it do really takes up some time before you can be having that a good grasps into it. When you do follow someone then it will really be that hindering you to become even more better. Its really that recommended that you do really know on what you should gonna do so that on the time that you do go solo then you can be able to stand on your own.
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I agree that no cryptocurrency trader can survive the market without all that you have mentioned above patience is very important because a lack of patience can push somebody into chasing their loss if they have available cash flow thinking they want to take advantage of a down market whereas there don't know the limits that the dip will go.
Chasing losses is one thing that I don’t think any trader should engage in, that’s a bad way a trader should think. That can lead to total loss and liquidation of your account. As a trader, if you can avoid liquidation no matter the condition of the market, you’re already one step ahead to success, so you should learn how to manage your risk and not fall into the traps of trying to recover you money after being lost to the market. Patience is key to a successful trading, so stick to it and watch how your trading journey gets better overtime.
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I agree that no cryptocurrency trader can survive the market without all that you have mentioned above patience is very important because a lack of patience can push somebody into chasing their loss if they have available cash flow thinking they want to take advantage of a down market whereas there don't know the limits that the dip will go.
Chasing losses is one thing that I don’t think any trader should engage in, that’s a bad way a trader should think. That can lead to total loss and liquidation of your account. As a trader, if you can avoid liquidation no matter the condition of the market, you’re already one step ahead to success, so you should learn how to manage your risk and not fall into the traps of trying to recover you money after being lost to the market. Patience is key to a successful trading, so stick to it and watch how your trading journey gets better overtime.
Actually, I think that you could explain a best opinion in your comment. We know that trading is one of the best profitable source for earn best profit from cryptocurrency market. So when we want to start trading, we must understand in cryptocurrency world and trying to acquire knowledge in cryptocurrency market. Because if we don't understand in cryptocurrency trading, we can not earn best profit from trading. So we should trying to emotional control for best trading, also risky and knowledge is very important for best trading.
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Patience, resilience, and ability to adapt.
Managing the risks is also very important. Maybe the most important thing ever.
I think that the most important thing ever is patience, especially those trading the spot market options. Patience remains the key to succeed when trading crypto assets, but not many traders realize this characteristic, and it is one of the reasons why many traders are not succeeding in my opinion.
Again, other important factors that contribute to trading failures are greed, inexperienced, poor trading plans, failure to apply flexible trading strategies due to the market circumstances, inability to listen to expert advices etc.
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Patience, resilience, and ability to adapt.
Managing the risks is also very important. Maybe the most important thing ever.
I think that the most important thing ever is patience, especially those trading the spot market options. Patience remains the key to succeed when trading crypto assets, but not many traders realize this characteristic, and it is one of the reasons why many traders are not succeeding in my opinion.
Again, other important factors that contribute to trading failures are greed, inexperienced, poor trading plans, failure to apply flexible trading strategies due to the market circumstances, inability to listen to expert advices etc.
Many things are leading to a failure the main thing is, as it was said - to adapt and change accordingly.
Being patient, sometimes, may lead to the risks engulfing the position. Sometimes, it's better to pull off ;)
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Being patient, sometimes, may lead to the risks engulfing the position. Sometimes, it's better to pull off ;)
It's not like that. Once you have plan, you have to be patient. You can't follow the plan without patience. The plan is what you really need to be successful in trading because you prove it in you backtest that you can be profitable with that plan. The strategy can be found inside the plan, you can't always see the same setup in the market and that setup is your bread and butter. So if you can't wait your setup to show in the chart, and you let yourself to trade just because of fear of being left behind by the market it has a higher chance to lose than to wait for your bread and butter setup to occur.
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I'll like to hear your thoughts on how you've been able to survive in this space as we keep learning everyday.
I beleive in knowledge and what the most of market thinks by observing the market cap of different narratives, like if Ai narrative's martket cap increasing day by day, then that's mean people are interested in it and this is how we can find the next potential narrative. this is not an easy task, as I don't use any tools but manually record or just observe most of the time.
Besides this, I follow other influencers to take trades, but if we want to take trades on our own, we should have the knowledge of technical, fundamental and psychology of the market and control on our emotions. .
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Being patient, sometimes, may lead to the risks engulfing the position. Sometimes, it's better to pull off ;)
It's not like that. Once you have plan, you have to be patient. You can't follow the plan without patience. The plan is what you really need to be successful in trading because you prove it in you backtest that you can be profitable with that plan. The strategy can be found inside the plan, you can't always see the same setup in the market and that setup is your bread and butter. So if you can't wait your setup to show in the chart, and you let yourself to trade just because of fear of being left behind by the market it has a higher chance to lose than to wait for your bread and butter setup to occur.
It all depends on the situation.
Sometimes, I needed to go off the position due to my plan not working out as intended. And that's normal. You can't be right all the time.
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- Maybe all I can say is never stop learning, once you start learning you should never stop, there are others who only know a little and their knowledge is not extensive yet, they feel like they know all the ins and outs of crypto trading.
And in my opinion, we don't need to give ourselves criteria to make a profit in trading, as long as we study it correctly and we execute it correctly,
for sure the result will be good in the end.
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It is being said that learning never ends, and that is all round life. In trading, it is the same and even more required every single time one enters the crypto market to place a trade. Consistency is a key tool for self-development in trading crypto currencies, resilience and patience are very vital, adapting to new changes that might come up in the crypto market.
Risk management, profit protection and following rules when trading can help make one's trading account to grow or go empty.
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Being patient, sometimes, may lead to the risks engulfing the position. Sometimes, it's better to pull off ;)
It's not like that. Once you have plan, you have to be patient. You can't follow the plan without patience. The plan is what you really need to be successful in trading because you prove it in you backtest that you can be profitable with that plan. The strategy can be found inside the plan, you can't always see the same setup in the market and that setup is your bread and butter. So if you can't wait your setup to show in the chart, and you let yourself to trade just because of fear of being left behind by the market it has a higher chance to lose than to wait for your bread and butter setup to occur.
It all depends on the situation.
Sometimes, I needed to go off the position due to my plan not working out as intended. And that's normal. You can't be right all the time.
There's no plan that works all the time, that's why you need to backtest your strategy so that you will know if the win rate it gives you is enough to become profitable. There's no 100% win rate, so you can experience losses and it's normal. Just because you encounter losses doesn't mean you can't be profitable. There are cases that your plan is not working in the current market situation, but it doesn't mean you have to trade right away it will just ruin your port. The best thing to do if this stuff happens to you, backtest your strategy again and make changes if necessary. There's no shortcut in it, it requires patience.
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Chasing losses is one thing that I don’t think any trader should engage in, that’s a bad way a trader should think. That can lead to total loss and liquidation of your account. As a trader, if you can avoid liquidation no matter the condition of the market, you’re already one step ahead to success, so you should learn how to manage your risk and not fall into the traps of trying to recover you money after being lost to the market. Patience is key to a successful trading, so stick to it and watch how your trading journey gets better overtime.
No trader will wake up one day and will decided to chase loss, but there are certain things that a trader will engage or involved himself in which is equivalent to chasing losses, because a trader that sit and said am going to retrieved back the money that I loss in the market, is actually chasing losses. And all these are cause due to greediness, selflessness, and dissatisfaction. Lack of patience is also a significant factor that contributes to losses in trading.
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Chasing losses is one thing that I don’t think any trader should engage in, that’s a bad way a trader should think. That can lead to total loss and liquidation of your account. As a trader, if you can avoid liquidation no matter the condition of the market, you’re already one step ahead to success, so you should learn how to manage your risk and not fall into the traps of trying to recover you money after being lost to the market. Patience is key to a successful trading, so stick to it and watch how your trading journey gets better overtime.
No trader will wake up one day and will decided to chase loss, but there are certain things that a trader will engage or involved himself in which is equivalent to chasing losses, because a trader that sit and said am going to retrieved back the money that I loss in the market, is actually chasing losses. And all these are cause due to greediness, selflessness, and dissatisfaction. Lack of patience is also a significant factor that contributes to losses in trading.
Then I can just add to what you are saying that dude, when a trader chases their losses, that means there is a geed that has formed in his mind, and it is difficult to get rid of it immediately. Of course, the more they try to chase their losses, the more the chances that the amount of losses they lose will also increase.
So having self-control, self-discipline, initiative to learn continuously is a big factor in the near future for a trader, because for every step we make in the actual trade,
it teaches us to learn more even if we say that we are making mistakes in the strategies we will use in trading.
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I just use a simple budget list in a spreadsheet where I write down what I spend each day. It helps me see exactly where my crypto profits are going.
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In my year of trading and learning we get to understand that the learning don't stop to every SL and account blown you take something away from it no matter how small it is you learn from your mistakes that's what makes you grow into a better trader.
For me personally if you don't have patience just get ready to keep failing, you have to learn to wait for your setup that you've been learning and have backtest this strategy over and over again. Having your setup and having the physiology to know when the trend is against your setup is different.
Physiology is key when it comes to trading most traders don't when to say let end the day with this trade once they've made profit they think the market is their play ground and start feeling superior to the market, I'm sorry my friend no one can be 100% sure.
I'll like to hear your thoughts on how you've been able to survive in this space as we keep learning everyday.
When it comes to trading, a few key criteria stand's out. First of the risk management is crucial - knowing how much you are willing to lose on a trade help you to protect your capital. And then there is timing, knowing when to enter and leave a trade matters a lot. And then you need the right strategy, whether you are into technical or fundamental analysis, or a mixture of both, consistency is key. Lastly discipline is everything- even the best strategy can fail without patience and emotional discipline.
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In my year of trading and learning we get to understand that the learning don't stop to every SL and account blown you take something away from it no matter how small it is you learn from your mistakes that's what makes you grow into a better trader.
For me personally if you don't have patience just get ready to keep failing, you have to learn to wait for your setup that you've been learning and have backtest this strategy over and over again. Having your setup and having the physiology to know when the trend is against your setup is different.
Physiology is key when it comes to trading most traders don't when to say let end the day with this trade once they've made profit they think the market is their play ground and start feeling superior to the market, I'm sorry my friend no one can be 100% sure.
I'll like to hear your thoughts on how you've been able to survive in this space as we keep learning everyday.
- You must be 100% serious about trading if you want to enter the crypto space op, because if you can't do it 100%, you can't be here because it's not as easy as most people think that you can quickly get a profit in this field industry.
Although being patient is only part of it while you study or understand crypto trading in this business field. You will go through a lot before you really understand crypto trading, and one of these is that you can experience losing often, getting stressed, and so on. So, you must be prepared for these situations.
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- You must be 100% serious about trading if you want to enter the crypto space op, because if you can't do it 100%, you can't be here because it's not as easy as most people think that you can quickly get a profit in this field industry.
Although being patient is only part of it while you study or understand crypto trading in this business field. You will go through a lot before you really understand crypto trading, and one of these is that you can experience losing often, getting stressed, and so on. So, you must be prepared for these situations.
I'm not sure if at the beginning there are people who can really be 100% in trading, most of them initially just try with a little effort. 100% confidence will happen over time and that too if the person's mentality is strong.
In the end everyone will see the benefits at the beginning, and when it doesn't go according to what they think then they will give up, but not a few of them end up learning diligently.
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If there was a single rule it would have been printed in a book and we all would have been following the instructions. The reality is what might be deemed to be a key criteria for one might be the opposite for others. Some people people cite patience or research before investing whereas others could emphasise the importance of spreading investments rather than putting everything in one investment. There is no easy answer to this.
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If there was a single rule it would have been printed in a book and we all would have been following the instructions. The reality is what might be deemed to be a key criteria for one might be the opposite for others. Some people people cite patience or research before investing whereas others could emphasise the importance of spreading investments rather than putting everything in one investment. There is no easy answer to this.
there are actually books that would help a trader but as you said it depends on the author what he deems is important and what is not since they would all have different approaches and opinions on how to trade but for us who are trying to learn more, i think reading just one book is not enough let us still try to be open minded and find different ways that work for us
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I'm not sure if at the beginning there are people who can really be 100% in trading, most of them initially just try with a little effort. 100% confidence will happen over time and that too if the person's mentality is strong.
In the end everyone will see the benefits at the beginning, and when it doesn't go according to what they think then they will give up, but not a few of them end up learning diligently.
Many people or entrepreneurs who start trading just because they see the success of people in trading and get a lot of money that is very tempting. but not all beginners are able and willing to try it because trading is not as easy as they imagine.
and this also will not be easy to happen, because trading is more complex, whether beginners or not, trading still requires very mature preparation, because the risk is very high. so that we can determine the right strategy for our trading system.