Topic: Wait for the right set-up - page 2. (Read 633 times)

Those who are experienced about trading never trade without proper setup. But people who trade without proper setup are mostly inexperienced in trading. I have seen many traders who consider themselves to be very knowledgeable traders who earn some money by doing a few trades on the trading platform. But after a few days it is seen that those traders lost their money and claimed themselves destitute. So it is very important to always follow the right set up and some important strategies for trading. Some of the important strategies include learning to analyze the market, proper setup, not being overly greedy, and not losing patience. If a trader can adopt all these strategies then I think he will not always lose from the trading platform and can definitely earn some money.

Sure they do. It's not easy to win trades without being patient as this market is for the most patient people and if you're for the short term, you don't tell me how short that short term is. Because for the traders, there's always the span of how short they are and typically, that short term isn't really short term at all.

And being greedy, they're the one choose their paths and the majority that are too quick and impatient are the ones that are losing.

When you trade your coins in the right season, it will help you to make what you have never make before in the market, but if you trade in the wrong season in the market, it will make you to experience losses that will teach you a lesson never to trade in such season. If you look around the market very well, you will discover that those that have the trading knowledge always find themselves in profits making because they know when to trade and when not to trade in the market, but those who don't have the knowledge always feel you can trade all the time to make a good income. Before I trade my coins in the market, I must carry out research to know if the market price can give me what i want from my coins before I will embark on trading, and it has been helping me to always embrace good income from the market.

I guess every trader who ends up trading successfully has always been trading waiting for the right set-up or the perfect timing to trade. That’s how powerful patience is. Unfortunately, not all traders are patient enough to wait for the right set-up as they prefer to prioritize chasing more profits and not skip even a single trade. Greed is what they chose to follow in trading rather than being patient and disciplined. No wonder how those novice traders end up losing and quitting trading in the end.

The right setup means the right preparation. Indeed, we don't have to be in the battleground if we are in incomplete gear. And just like in trading, we should not be trading if we are not fully equipped with knowledge, skill, and strategies. Unfortunately, the opposite thing happens in most traders, they start trading with an empty mind believing that trading is very easy. Such thinking will bring them to a losing scenario and blame.
Honestly, it was not an excuse because we are newbies as we can find ways to avoid major losses. Although losing is going to happen in trading, it doesn't mean we should just let it happen knowing that we can improve the situation.

Whether we are involved in trading a lot or not really depends on how knowledgeable a person is about trading because if you don't have the knowledge then being involved in several trades will create problems that may result in losses. But if people understand investment patterns, taking a lot of trades is actually good, because when they lose on some trades, there are still some other trades left to recover those losses. The more trades we make, the greater the risks and when we understand how to trade, we may be better prepared to deal with the risks.

If people do daily trading then they are not only looking at the right settings to engage in trading because they are trading every day. Except for traders who make irregular trades and usually they look at the right timing so as not to make losses. Trading does require patience and knowledge because if we don't have it it will make the position much more detrimental.

You can't do that if you're trading rightful, it's those traders that aren't trading in the right way that'll lose everything they have made from trading when one trade goes against them. Being a trader, we shouldn't trade without having our stop loss in place because when the market isn't going as we predicted, the stop loss will prevent us from losing too much. Stop loss will have you to regulate how much you want to risk losing when the market is going down. Waiting for the right set up of the market is a great advice as you don't have to be trading every time. Trading should only be carried out when you have studies the cryptocurrency pairs that you want to trade to see how they move in all market conditions before you buy or sell them. Waiting for the right market set ups prevent you from entering the market at a wrong time too.

When you said waiting for the right setup, I actually did not understand. Did you mean a signal or something that would help the trader make money? or you are talking about someone to get the knowledge and skills of trading before joining the trading because the patience in trading is what some beginners do not have and they jump into it and then keep on losing. You will see someone who only learns a few things trying to trade, which is not a good practice because beginners need guidance and are supposed to be aware of the risk before they trade.

However, trading has a lot of risk that is associated to it, and someone can't be winning all the time. So the best thing as a trader is that if you can't afford to lose all the profit you get from your first trading then you use the amount you can afford to lose. so that you won't lose all your funds. but the problem many traders have difficult to overcome is greed and emotionally okay while trading, some think using huge amount of money will bring back huge profit which I won't argue, but the risk is something we should consider.


exactly. Knowledge is very important, and it should be the first thing to get as a trader. However, trading all the time is not a big deal in my opinion. As long as you have the knowledge as a trader and you know what you are doing and how to handle the market when it changes, you are good to go, but if you don't have sufficient knowledge of trading, definitely trading cautiously is the best for you.

It's right that there is always a certain amount of risk involved in trading. But trade without calculation is like betting where you just pick one and invest.You don't bother about the time, success rate etc. In betting you lose 100 times and win 2 times unless you have a very good fortune. There are traders who put their savings into the market and for them it's very important to calculate the risk involved and then make decisions.

You cannot just simply go during the halving approach of BTC and invest in it.Its obvious that the chart will go down and you'll lose your investment. It's better to invest after the dip is ended. So these types of strategies work and they should be looked after while trading.

This is the common reality going on in most traders life, especially the experience ones that are still having huge losses, because they actually knows that trading is just like hunting, you have to be very patient and wait for and opportunity or wait for and animal you will prey on, so as to be successful, but most traders are impatient, they just want to make money quick, forgetting the basic rules of trading,  which will eventually leads most of them to huge losses because they were probing and trading the market when it's was obvious that their is no golden opportunity at that time, which they will end up losing money, because they entered the market at the wrong time, and when they have lost their funds, that's when a golden opportunity will present itself, but due to lack of patience, they have already lost their funds before then .

I think it is still 50:50 in my opinion, you can spend a lot of time analyzing the market and then come up winning and be profitable and not waiting for the right setup not sure though what you mean by this, setup as in hardware or the knowledge so that you will have an advantage on others, thus making profits? And from what you describe, it really looks like trading is really gambling isn't it? But here you learn how to mitigate the risk and quit early while in gambling it's really hard to control our emotions. In any case, there is profit to be made in crypto trading, you just have to really equip yourself with the right learning and tools maybe like trading bot if you are a expert already to automate this trading for you.

This is very true because, even with how many trade losses you did as long as you have stopped the loss and are not eager to get into a new trade, you will be profitable.
Sometimes 1 perfect trade will able to get your losses back, so at the end, you end up profitable as long as you waited for the right set-up and not chasing losses.

do you know one thing about trading you must do study the rules and the regulation of trading first before you can be able to make a profit as you may think,trading is a skill that you will learn and understand the procedures before you can be able to escape losses in Trading so many people who experience a huge loss in Trading is people that have not microscope or understand the basic routement of trading... it is obvious and understanding that the more you trade it is more you have more experience about trading and the more you loves interesting it is more you understand your fault and your loop holes, so an experience Trader who knows the fundamentals of threading who knows the key and the strategies to trade cannot lose a huge amount of money or cannot lose a profit that he or she made in two consecutive trade and the two consecutive profits in one trade....its a beginner of trader that is profits conscious can make such mistakes.

it is obvious that the how you open your leverage in Trading or establish your trading is the way you'll get a loss and and also the way you get your profit, is perspective I think you are correct, but one thing that makes us to lose very huge in Trading is because of the way we strategize our threading and then what causes this is that when we have the greediness in US it is what makes us to lose more than the way we are supposed to lose our capital.. is obvious that the higher our expectation may be as Same of our risk in Trading.

one of the philosophy of trading is that, before you benefit in Trading you must also experience a huge loss because it is based on your experience in Trading that to make you to understand trading movement anyone who is into trading is not wasting it time, it's what it deserves to do, and any you decide to do you most like to know the effects neither knowing the advantages first or the advantages, if you study trading very well you will not be experiencing a huge loss.

As a rule, beginners tend to open more orders, hoping to earn money quickly in this way. And only after time has passed, they begin to understand that this type of trading brings only losses and in the future carefully choose the moment to open a deal when the market is more predictable.

Exactly, it's very risky, to have such believe, you are likely to have such kind lost. in fact, your entire life, if expectations are too high, the disappointment you will encounter will be high as well.

The more you trade, the more you can profit, because trading requires a lot of patience and a lot of analysis over a period of time.  Because not all coins always increase in price. Trading is a very difficult thing and a person who jumps into trading thinking it's easy and believes in the concept that the more he trades the more profit he will get, will suffer greatly. yes, the more you trade, the more profit you can make, but every trade must be a successful trade

some time you get profits according to the more trading you do. but most of the time you will trade more and get less profits. such it is,  even in our own life. some time you will work harder and earn less.

The more you trade, the more you can profit, because trading requires a lot of patience and a lot of analysis over a period of time.  Because not all coins always increase in price. Trading is a very difficult thing and a person who jumps into trading thinking it's easy and believes in the concept that the more he trades the more profit he will get, will suffer greatly. yes, the more you trade, the more profit you can make, but every trade must be a successful trade

Trading is almost same as gambling but the difference is that if you follow the right signals in trading you are likely to make some profits in it and just like you said it requires a lot of patience and you must be able to know what you are doing because you can't just start trading when you have no trading know or trading techniques to follow for you to make some gain. Though trading can be so stressful but people still  make some reasonable profits if you follow the right signals and apply them correctly.

Well, you are right that one cannot trade without opportunities because then it will be a forced trade, however, a good trader would try and find opportunities in any market condition so that they don't have to wait very long before they can earn some profit, and this is possible only through research and analysis.

A day trader can never rest. If you are a day trader, you can't just sit and wait for the market to serve you the opportunities in a plate but you will need to go out there and do your research and find out coins and tokens that are creating trading-windows based on the strategy you are using. Regardless of the market conditions, there will always be some cryptocurrencies that will give you a window that you can use to make your trades.

However, this doesn't mean one should overdo it as you said, you are not supposed to become greedy and make hateful trading decisions because that might make you lose focus and make you lose money in the long run.

I have personally experienced this because I was trading frequently in the past and use to take losses.
I didn't had the patience to wait for the right setup and used to buy at higher prices.
Sometimes I used to make profits but since the entry was at a higher price, I didn't made gains that I should have.
Waiting for a good entry point will increase our profit margins a lot but this applies only to short term trading and not long term trading.
For long term trading, an entry point doesn't matter much though.

Most people may likely not tell the story of their own losses in trading because it will discourage a newbie around them who is interested in learning how to trade but anyone who wants to go into trading should have the idea of gaining and losing money as well depending on the outcome of the trade and how well the person is knowledgeable.
Having a good trading knowledge is the easiest way to overcome losses that is what people don't understand and you do not expect someone who has lost for so many years back to start bringing up sad stories about his experience when things are better now.