Topic: . - page 2. (Read 5460 times)

I agree with you. For trade, you need experience and knowledge. Ability to analyze the situation and news. I have a similar situation - I started trading without experience and lost everything. I was very angry. But then I realized that it's all my fault

At first you cant avoid the regrets. It will always happen. But those are the lessons that you will be treasuring after.
The next trades will be better if you would just continue. I see some people that gets their hope lost in just a single trade to which they lose. I dont think that is how it works. You would need to take the next step even if there is a risk.

I personally learned this the hard way, I was a newbie and I saw people talking about trading and how it is profitable and how they earn a lot from it so I was tempted to try it so I saved some coins and jumped into it without learning about it or having any experience and I lost all of my coins doing the wrong decisions, so I quit it and thought it was a lie and people were just lucky, but over the years i learned more about it and I tried it couple of times until I was able to get profit.

One point we must accept, every loss in trading is a way to become Professional Trader. Don't get scared when you lose money in trading. This is happening in all business you must be very strong and ready to take a challenge. Don't get panic if the price drops suddenly. The 2nd point patience you remember this and wait for some time your lucky day will come. when you start to control your feelings, then you will slowly become a Professional Trader.

All of the professional traders here in the bitcoin industry is already experienced a bad thing like losing alot of money when they're begginers because they didn't know thr tactis about trading, Just accept if we lose it is normal to all of the trader but all of our loses we need to learn a new things and strategies to earn a good profit.
Take Note: a good trader take a risk because everyday is not a lucky day.

Good thread.I traded more than  8 years and earned my income from trading forex and stock market. BTW patience is virtue..

I agree. These are the three most important components for a successful trader. And of course we need experience that will come with the time of trade.

I'm not a professional or a newbie trader, just an average trader because im just 2months old in doing a altcoin trades but i can give you a tip to become a good trader.
The characteristics to be developed for becoming a trader is:
1. Analyzing - it is the most important thing to do when you making a trades because many altcoins turning into shitcoins and big whales making a fake pump to get a victim, the most people they victimize is the newbie because they didn't know if the coin is getting pump continuesly and they buy it in the higher price when the coin is trend.
2. Patience - after you analyze the coin you want and when you get a good news or projects about it you need to be patience if you know that the coin has a potential to rise just hold it for a long time and it's called longterm method.
3. Strategy - strategy and good thinking is best too Ex. if you buy a coin in 25sats then it will rise to 100sats then you read a news that the coins will get dumped because BTC price will getting pump, You need to sell it in 100sats and wait it to dump again then BUY then you have a 300% profit + another profit when you buy again in low price
That's the only thing i know in trading but experience is the best key to success in trading bitcoins and altcoins GOODLUCK!  

Yes,altcoin trading is very risky for every one.A professional trader is one who doesnot get panic and who doesnot follow the market blindly.He privately does fundamental analysis,financial analysis and successfully finds the most under valued asset.They know very well when to enter and when to exit the market.They dont do twenty or thirty trades per month like newbies and they just do two or three trades per month and earn profits more than newbies.

No one could become professional trader from day one itself hence only experience deciding the professionalism of traders. But there are traders who are making good profits out of their skill similar to experience the traders but within their beginning days itself. I guess they are also worthy to be called as professional traders.

By putting up certain thresholds and stop-losses, you are actually preventing your profit to be burned and has a lot of importance in generating future profits because you know when to stop and call it a day. Reaping up profits alone wouldn't help you becoming a great trader but also knowing when to stop because not everyday is a green day. Also, in establishing such thresholds, you will maximize your profit since you wouldn't be greedy to take them all.

yes professional traders has the virtues of self discipline and self control if you also need those virtues you only need to read a book written by Brian Tracy (the power of self- discipline) no excuse! Discipline is good but is not enough to become a professional traders. Traders should see themselves as a footballers the more you train or practice the better you became.

I guess self control and self discipline are the things which are useful for preventing losses but has no importance for generating profits in trading. But professional traders are being identified only through their performance levels especially by profit levels. Skill on profit generation is more important for becoming professional trader.

Becoming professional trader nothing but becoming experienced trader. People who are just forgetting their trading experience will never could become professional trader imho.

Precisely, the main things that must-have is patience. Because patience is the Foundation of every action will be done, if we are not able to control or have no patience then most likely is we get a big loss, let alone a trader is a job that should require analysis and precision, then from now on should be instilled a good soul and always think of all the things that concerned about long term plans
 

All we need when we do trading is patient when your incopetent then you can make it, discipline to our self know when to spend money by investing it from altcoins y'll can be a professional trader as long as we understand everything we do from it controling emotions and wlling to wait for the result.

The real professional trader need to do many homework, even i can't do it.
They need to build their portfolio, some got customer to funding them, they need to build other's portfolio also and report.
Know financial calender.
Prepare of the big mindset towards company or related industries, check their information, balance sheet etc.
Watch many charts in one monitor, charting etc.
Set their trading time

very high challenging, i try before...

There are tons of the characteristics which will be deciding the profit level of one trader. I believe only the profits and the frequency of profit will be deciding a trader as a professional or not.

I'm not seeing only very few characteristics will be helping traders to become as a professional traders because if it is not that much simpler one then we will be having more number of successful traders but actually trading is not working in that way.

Making profits from trading is a highly challenging job and every trader is working hard for their personal profits and in this process they are finding themselves as a professional traders.

I think the professional traders personal characteristics was self discipline, self-control/know how to control emotion. Those virtues I think is a sign of professional traders which traders supposed to be have it

People will regret if miss a chance to sell at ATH, but the problem is ; we don't know precisely when this happen unless it has passed.
But, if a traders sell his coins and then next day the price rise up, he regret his decision yesterday.
I mean, people ususally ungrateful and being greedy in trading. So, make up your decision in the early stage (how much % profit you want) and deal with it, at least you make profits from trading.

I have always thought that a good trader does not exist without proper money management.
To be able of doing successful trades and making profit on a longer term you need to play only on correct pairs.

It is same about forex and altcoins trading, you won't get the returns constantly if you dont know the market.
In my opinion the risk is bigger on altcoins trading than on the forex, because the markets are simply so volatile. An altcoin like Voxels can go -50% in one day simply because poloniex has delisted them.