What are the key criteria needed when it comes to trading?

[bayu7adi]

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.

[Mr. Magkaisa]

"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.

[milewilda]

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.

[Asiska02]

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.

[Azharul]

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.

[Bobcrypto]

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.

[omori]

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

[jeraldskie11]

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.

[Faisal2202]

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. .

[omori]

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.

[Mr. Magkaisa]

         -      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.

[Stuart]

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.

[jeraldskie11]

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.

[Chilwell]

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.

[gunhell16]

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.