Key qualities of successful trader

[Thyplaymaker]

To me I think is having good self-control, with that you will be able to grow and same time control your emotions because, as a trader one of the thing that usually affect time is not having a good self-control, that's why most traders usually blow their account before realising it . So having good self-control will help to minimize losses , because one will be able to have good risk management.

[Bobcrypto]

What are the things that someone should have and someone should follow if they want to be successful in their crypto currency career?

Personally, I feel patience and resilience are key factors and analytical skills, keeping up with trends also need to be there but those all are just secondary cause the real deal is to avoid the capital loss that eat our whole capital in no time.

And I would call someone successful if they keep learning from their own mistakes.

Yes, and besides learning from our mistakes, being patience, resilience, and as a wise trader, these are further key qualities to follow to keep winning your trades.

First, try to define your goals, and your risk tolerance
Secondly. always follow your entry and exit criteria and be desepline.
thirdly, reduce your emotional filling and stick to your plans
In addition, be informative, try to listen to expert traders that are more experienced than you to boost your experience. Lastly, trade with minimal profit/loss rate, for consistency, 2 to 3% profit margin can be considered to exist a position during an upward price movements.

[bettercrypto]

What are the things that someone should have and someone should follow if they want to be successful in their crypto currency career?

Personally, I feel patience and resilience are key factors and analytical skills, keeping up with trends also need to be there but those all are just secondary cause the real deal is to avoid the capital loss that eat our whole capital in no time.

And I would call someone successful if they keep learning from their own mistakes.

We all do as much as we can to avoid losing, but so often in the market it cannot be avoided due to the unpredictable market situation. But the important thing is that we minimize it; we have a lesson that is learned so that it doesn't happen again.

Then there is no one who succeeds in this field who doesn't experience mistakes, especially in making wrong analyses that cause us to lose in trading.

[yhiaali3]

Yeah, it would have been funny, doing technical indicators on PEPE! Imagine how that would have looked!
Also, zoom out and do TA here:
https://coinmarketcap.com/currencies/shiba-inu/
For one year and a half flat and then 2million% up!

Meanwhile "experienced" traders get wiped out by a 10% swing!

Today I came across another crazy news item related to the same topic, where a recent report revealed one of the biggest returns on investment in the world of cryptocurrencies, as a trader bought 30.1 million meme coins “MOODENG” for only 6 SOL coins (about $815 at the time of purchase) 17 days ago.

Today, the value of these coins is about $9.4 million, which means an amazing return on investment of 11,543x. This lucky guy must have worked hard on technical analysis!! 


https://x.com/lookonchain/status/1840076691026460993?

[royalRitta]

Yeah, it would have been funny, doing technical indicators on PEPE! Imagine how that would have looked!
Also, zoom out and do TA here:
https://coinmarketcap.com/currencies/shiba-inu/
For one year and a half flat and then 2million% up!

Meanwhile "experienced" traders get wiped out by a 10% swing!

Today I came across another crazy news item related to the same topic, where a recent report revealed one of the biggest returns on investment in the world of cryptocurrencies, as a trader bought 30.1 million meme coins “MOODENG” for only 6 SOL coins (about $815 at the time of purchase) 17 days ago.

Today, the value of these coins is about $9.4 million, which means an amazing return on investment of 11,543x. This lucky guy must have worked hard on technical analysis!! 


https://x.com/lookonchain/status/1840076691026460993?

..Or he just gambled due to having lots of SOL in his pockets, we will never know
But the fact remains, of course- he did well.

[laijsica]

To me I think is having good self-control, with that you will be able to grow and same time control your emotions because, as a trader one of the thing that usually affect time is not having a good self-control, that's why most traders usually blow their account before realising it . So having good self-control will help to minimize losses , because one will be able to have good risk management.

It is very important to take investment decisions with proper planning to control the risk during trading. By choosing the right crypto and with patience. Self-control is one of the key success factors in trading that can be controlled by emotions, so over-controlling emotions can lead to profits. I think an investor should tend to hold periodically rather than expecting to make profits in the early stages. Holding tendency to control the risk in investment can help him to get high profit to a great extent.

[luckyledger]

To me I think is having good self-control, with that you will be able to grow and same time control your emotions because, as a trader one of the thing that usually affect time is not having a good self-control, that's why most traders usually blow their account before realising it . So having good self-control will help to minimize losses , because one will be able to have good risk management.

It is very important to take investment decisions with proper planning to control the risk during trading. By choosing the right crypto and with patience. Self-control is one of the key success factors in trading that can be controlled by emotions, so over-controlling emotions can lead to profits. I think an investor should tend to hold periodically rather than expecting to make profits in the early stages. Holding tendency to control the risk in investment can help him to get high profit to a great extent.

Overall, investing means having some skin in the game, and it's okay for those who know the market and its rules. It's also okay for them to see some red in their portfolios because they know it will change to green eventually.
Newbies, on the other hand, can be not so patient, which leads to early soldouts and losses.

[Bobcrypto]

What are the things that someone should have and someone should follow if they want to be successful in their crypto currency career?

I first have to say that cryptocurrency career may not be trading. You can have a cryptocurrency career as an investor or a miner.
 
To be a successful trader, you have to master emotional intelligence, conquer greed, and have proper risk management skills, because with mastery of those two things, you have put yourself in a position to be very successful with any trading strategy that you adopt.

Mate, let us know what a career is all about, then we can understand better.
According to the English dictionary, Career is a person's occupation, ones profession. Another school of thought defined career as an occupation or profession, especially one requires special training, followed as one's life work.
Trading crypto is a career because it requires special training to gain experience as one progresses.

Now, crypto trading need strategic plans of the market trends and price movements. It also requires elimination of reactions.

[Celsius]

What are the things that someone should have and someone should follow if they want to be successful in their crypto currency career?

A successful trader must possess many qualities otherwise he can never profit from trading. Emotion control is most important for a trader. One can never expect anything good from trading with emotions. Moreover, one cannot be overly greedy when trading because if greed cannot be controlled, he must be in fear of loss instead of profit. Moreover, a trader must learn to analyze the market and be aware of when to enter the market and when not to enter the market.

[Ujok]

Continue to learn from your own mistakes or screen on some trading problems that you have faced,
so that you will find the right formula and strategy for trading.

In addition, it also depends on how a person processes their emotions when trading because emotions or psychology will have an impact on decision-making when trading is made.

Being too greedy, panicked and uncontrollable is the effect of bad trading psychology,
If traders can overcome these psychological problems, then it will allow them to execute their strategies quite well.

that's right, in a person there must be a patient nature and can control his emotions so that he does not make decisions too quickly because people who make decisions quickly without thinking first are very high risk there will definitely be regret. with that we must avoid all of these things and must remain calm in any condition even though the market is declining must remain patient. patience is the key to a person's success ...

[Findingnemo]

Well, hoping for the best reveals what this is, gambling!
All the other fancy words mean nothing, it's just traders trying to fool themselves they are not gamblers!

There's some resemblance but not entirely same we do have certain things under control while trading unlike gaming which is beyond our control.

For example, we took a big hit on our capital due to sudden drop on the market but we still have the decision to make whether we want to hold to just sell it and take the remaining capital. Weak hands usually sell at that point while the successful one's holds until their make profits that is why having better capital give us extra cushion and not relying from the revenue of trading gives better space to take such risks.

[Themepen]

There's some resemblance but not entirely same we do have certain things under control while trading unlike gaming which is beyond our control.

For example, we took a big hit on our capital due to sudden drop on the market but we still have the decision to make whether we want to hold to just sell it and take the remaining capital. Weak hands usually sell at that point while the successful one's holds until their make profits that is why having better capital give us extra cushion and not relying from the revenue of trading gives better space to take such risks.

Yes you are right trading and gaming have some things in common but there is big difference control. In gaming we can not always control what happens. But in trading we can make thoughtful decisions. For example if market drops we can choose to sell or hold.

This difference is what separates good traders from those who struggle. Less experienced traders mostly sell quickly while experienced traders wait patiently for profits. Having enough money helps us to take risks without worrying about losing everything.

[Kemarit]

What are the things that someone should have and someone should follow if they want to be successful in their crypto currency career?

A successful trader must possess many qualities otherwise he can never profit from trading. Emotion control is most important for a trader. One can never expect anything good from trading with emotions. Moreover, one cannot be overly greedy when trading because if greed cannot be controlled, he must be in fear of loss instead of profit. Moreover, a trader must learn to analyze the market and be aware of when to enter the market and when not to enter the market.

Everyone should learn how to take control of themselves and then patience as well. Because for sure it will not be on your way, there are days that you are going to be disappointed by the results and so if you are emotionally attack, you are going to get rekt in this market.

Of course, we need capital as well and then we should be very careful on this capital and protect it or learn how to mitigate as well. You just don't go all in in the beginning. TA could help as well, as there are a lot of guides on how to learn it, even in bitcointalk community.

[LUCKMCFLY]

Everyone should learn how to take control of themselves and then patience as well. Because for sure it will not be on your way, there are days that you are going to be disappointed by the results and so if you are emotionally attack, you are going to get rekt in this market.

Yes, and one of the most important things is to persist. There are times when a trader gives up very easily. If he burns 1 or 2 accounts , then he stops and tells Himself that he is not good at it or that he is going to do something else. He does not persist, He just has to think that he must persist, find a way to finally do it. I know that he loses money, but if he likes it and learns , then he has to make mistakes, but at some point he will learn and achieve it For me, that is the key.

[Captain Corporate]

If you can have less emotions than average person that would be the ideal one. I understand that it may not be a great deal all that often because in real life emotions are great things and psychologists work towards making it possible for people to be more in touch with their emotions and fix stuff. However, what we are missing here is that we are not seeing how to get better results with it, and that is an important aspect of it. We need to have very little emotions while trading so that we can be a lot more sharper on our decisions and we can make decisions without emotion and just planning.