4 Things Traders Must Do To Be Successful

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: BeGoods on April 28, 2019, 11:03:07 AM

I think we are talking about trading right? but even day trading does not mean you have to monitor the market and do analysis throughout the day, of course you need a break and that is important for a trader, stress is very vulnerable to traders, so I think you should have a plan about resting too

Talking about day trading yes. People who do that mostly follow their pumped up coins. Do take it for granted that day traders make all their profit from trading. They make a lot more from selling their picks to a handful of koolaid driven gang ready to support him as a self-proclaimed god.

Stress is obviously harmful to any trader. But being in crypto if you can't handle stress and anxiety then you need to stop trading. Otherwise a better method is long term holding and selling a big pumps.

Botnake

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Quote from: emmybd on April 30, 2019, 09:12:06 PM

I believe that newbies shouldn't trade too much, they have to be patient and spend more time in gaining information, knowledge about trading. They shouldn't hurry things, as with the passage of time they would learn many things on their own.

Newbie should trade with moderation, it's hard to succeed if you are a newbie, so reduce the amount at risk.
What we are going to do here is to reduce the risk and be profitable, that two should go together, newbie are not well experience so most lilkely
they will make a bad decision in trading.

Learn, learn, and learn, that's what they have to do and focus so in the long run, they will be consistent.

darkr

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Quote from: BeGoods on April 28, 2019, 11:03:07 AM

Quote from: TheUltraElite on April 28, 2019, 09:59:00 AM

Quote from: Homorton on April 23, 2019, 12:56:10 PM

it’s vital to analyze market all time, find respectable researches

You cant analyse at all times unless you are day trading. The word "respectable" is a bit controversial here. Many such research is paid news and doing your own research is what is the gold standard.

I think we are talking about trading right? but even day trading does not mean you have to monitor the market and do analysis throughout the day, of course you need a break and that is important for a trader, stress is very vulnerable to traders, so I think you should have a plan about resting too

A good trader takes his job as a gift. He is happy to spend all his time learning about the cryptocurrencies, choosing the most promising ones, investing in them. He is interested in his business.

ApocalypseNow

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Quote from: analyst100 on October 26, 2018, 12:19:12 PM

THESE 4 TRAITS WILL MAKE TRADERS SUCCESSFUL

If you have a passion for trading, Dr. Brett Steenbarger has some choice words for you: you're not going to make it. Instead, traders need to be passionate about markets. It may sound like a minor distinction, but it's not. In decades of working with billionaire hedge fund managers and traders, he's found that traders that are passionate about trading don't put in the work and trade too much.

To be successful trading, Dr. Steenbarger has learned:

1.   A rule of thumb for how traders should control losses so that they never lose more in a morning than they can make in an afternoon, more in a day than they can make in a week and more in a week than they can make in a month;

2.   Why traders should not just focus on minimizing their weaknesses, but also maximizing their strengths;

3.   A simple trading journal that will help you improve each day; and

4.   That the best traders are ones that embrace losses and use them to become better.

Author: Dr. Brett Steenbarger

Source: https://blog.topsteptrader.com/brett-steenbarger-limit-up-futures-trading

www.tallinex.com wants you to make money from the markets.

Number 4 is very substantial to me and the newbies should too. The bad traits of starting traders is that they never want to lose and all they want is a winning streak. They act like a child that when they don't get what they want, they just leave and hate trading. But I guess they are not really into it because like me, I was upset with my losses but I know that I will not give up and it gives me idea on making my own effective strategies.

emmybd

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I believe that newbies shouldn't trade too much, they have to be patient and spend more time in gaining information, knowledge about trading. They shouldn't hurry things, as with the passage of time they would learn many things on their own.

BeGoods

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Quote from: Sum24 on April 30, 2019, 03:25:45 PM

Quote from: BeGoods on April 28, 2019, 11:03:07 AM

Quote from: TheUltraElite on April 28, 2019, 09:59:00 AM

Quote from: Homorton on April 23, 2019, 12:56:10 PM

it’s vital to analyze market all time, find respectable researches

You cant analyse at all times unless you are day trading. The word "respectable" is a bit controversial here. Many such research is paid news and doing your own research is what is the gold standard.

I think we are talking about trading right? but even day trading does not mean you have to monitor the market and do analysis throughout the day, of course you need a break and that is important for a trader, stress is very vulnerable to traders, so I think you should have a plan about resting too

Break will go in our favor if we learn something in it, I know the monitor of the market is good, price is gradually rising we should contribute in making trading beneficial by holding an trading for long term, it is very important to know each and everything about trading so the more you gain knowledge the more price will recover, buy when price is low and hold with patience.

Yeah, especially you're a human too, of course resting and break is an important thing for you to health recovery, and self-introspection also, after a day of monitoring and trading. instead traders develop when they begin to understand their mistakes when they break, that's my experience..

Bagaji

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Merit: 291

Well, in addition to what you have presented in your submission above i will say having a goal before trading is very important because that will guide you in your yrading decision only if you follow them strictly.

Timmzzy

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SOL.BIOKRIPT.COM

Quote from: analyst100 on October 26, 2018, 12:19:12 PM

THESE 4 TRAITS WILL MAKE TRADERS SUCCESSFUL

If you have a passion for trading, Dr. Brett Steenbarger has some choice words for you: you're not going to make it. Instead, traders need to be passionate about markets. It may sound like a minor distinction, but it's not. In decades of working with billionaire hedge fund managers and traders, he's found that traders that are passionate about trading don't put in the work and trade too much.

To be successful trading, Dr. Steenbarger has learned:

1.   A rule of thumb for how traders should control losses so that they never lose more in a morning than they can make in an afternoon, more in a day than they can make in a week and more in a week than they can make in a month;

2.   Why traders should not just focus on minimizing their weaknesses, but also maximizing their strengths;

3.   A simple trading journal that will help you improve each day; and

4.   That the best traders are ones that embrace losses and use them to become better.

Author: Dr. Brett Steenbarger

Source: https://blog.topsteptrader.com/brett-steenbarger-limit-up-futures-trading

www.tallinex.com wants you to make money from the markets.

Is a good post. But we have potential of thing's on which a trader have to abide to be successful in the Crypto trading it won't just be a limited 4 in a number. I believe newbies with find this post helpful.

Sum24

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Quote from: BeGoods on April 28, 2019, 11:03:07 AM

Quote from: TheUltraElite on April 28, 2019, 09:59:00 AM

Quote from: Homorton on April 23, 2019, 12:56:10 PM

it’s vital to analyze market all time, find respectable researches

You cant analyse at all times unless you are day trading. The word "respectable" is a bit controversial here. Many such research is paid news and doing your own research is what is the gold standard.

I think we are talking about trading right? but even day trading does not mean you have to monitor the market and do analysis throughout the day, of course you need a break and that is important for a trader, stress is very vulnerable to traders, so I think you should have a plan about resting too

Break will go in our favor if we learn something in it, I know the monitor of the market is good, price is gradually rising we should contribute in making trading beneficial by holding an trading for long term, it is very important to know each and everything about trading so the more you gain knowledge the more price will recover, buy when price is low and hold with patience.

BeGoods

legendary

Activity: 1372

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Quote from: TheUltraElite on April 28, 2019, 09:59:00 AM

Quote from: Homorton on April 23, 2019, 12:56:10 PM

it’s vital to analyze market all time, find respectable researches

You cant analyse at all times unless you are day trading. The word "respectable" is a bit controversial here. Many such research is paid news and doing your own research is what is the gold standard.

I think we are talking about trading right? but even day trading does not mean you have to monitor the market and do analysis throughout the day, of course you need a break and that is important for a trader, stress is very vulnerable to traders, so I think you should have a plan about resting too

Xenrise

sr. member

Activity: 672

Merit: 251

I think the list is not that good enough for a trader to be successful. Why? It just focuses on 1 thing, embracing every loss in trading. That's it. Nothing more, nothing less. And that "thing" to be look upon is too common for you to be a successful trader in the making.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: Karmakid on April 21, 2019, 06:25:09 AM

Learning from the mistakes that we have done is the best thing that a trader can do in order to become successful in the future because it will become his basis for his future trading decisions because he will identify the errors and correct them accordingly and it will result for create a newer and more effective trading strategy.

Yes but that not what most people do. Majority fail to understand their mistake and they act stubborn and think their mistakes are not mistakes and keep on ignoring them. While this leads to more losses or bad moves, they will blame it on other things like they moved on the wrong coin or that market went sideways. These may be true but being human we all tend to brush aside our mistake if any in any procedure.

Quote from: Homorton on April 23, 2019, 12:56:10 PM

it’s vital to analyze market all time, find respectable researches

You cant analyse at all times unless you are day trading. The word "respectable" is a bit controversial here. Many such research is paid news and doing your own research is what is the gold standard.

Caladonian

hero member

Activity: 1302

Merit: 540

Quote from: johanesrobin on April 24, 2019, 06:52:00 PM

Trading is very important for controlling emotions. patience is a key one in trading.
easy to say but in practice it is very difficult. but eventually it will become commonplace.

With your proper observations and dedications to learned more inside this industry, eventually, you'll be able to adopt the atmosphere of the entire market, giving you enough edge to assess and analyze each pairs that you are eyeing for, people who have good mental awareness can easily adopt from this changing pace from time to time, moving on or play safe, patiently waiting or need to cut loses and make another entry to try to recover back.

Such things needs to be considered and learned while your interest still inside this market, find more knowledge and don't stuck yourself with what you already have now.

79b79aa8d5047da6d3XX

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Colletrix - Bridging the Physical and Virtual Worl

One of the many ways the Big traders make money is by buying coins, stock etc when a rumour comes out that something really good or really big is going to happen. People often FOMO in to the coin and push up the price. If the big boys know the news they wait until a few hours before the news comes out and sell to those FOMOing in and they can make anywhere from 3% to several 100%. They buy when the rumour starts and sell as everyone panics in.

johanesrobin

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Trading is very important for controlling emotions. patience is a key one in trading.
easy to say but in practice it is very difficult. but eventually it will become commonplace.

MakeMoneyBtc

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Quote from: gilangIDR on April 14, 2019, 10:21:56 PM

The ability of a trader will be tested when he decides to make important decisions, there are many things that must be considered for a trader. Mathematically, a Trader must always pay attention to the market situation, this is because the condition of the crypto market often makes a surprise so that a Trader is required to make decisions quickly. This cannot be avoided because without the ability to read a good market situation, a trader will never succeed in making the right decisions and benefiting him.

In order to notice the best occasions for buying and selling a trader must be very focused on what he is doing, so focus is one of the most required skills for a trader. Of course this skill could be trained overtime but essentially if you are a sloppy person it will be hard for you to become a good trader, at least the beginning will seem extremely hard.

werokez

newbie

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Quote from: Homorton on April 23, 2019, 01:27:46 PM

Quote from: werokez on April 23, 2019, 12:59:26 PM

Quote from: Homorton on April 23, 2019, 12:56:10 PM

it’s vital to analyze market all time, find respectable researches

Oh there are a lot of them, lately I began to use reports of velvet exchange trading platform or same old binance for instance

link?

I hope you are aware of binance existence, moving to velvet, here u go https://velvet.exchange/#/

whirlcoin

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Quote from: analyst100 on October 26, 2018, 12:19:12 PM

THESE 4 TRAITS WILL MAKE TRADERS SUCCESSFUL

If you have a passion for trading, Dr. Brett Steenbarger has some choice words for you: you're not going to make it. Instead, traders need to be passionate about markets. It may sound like a minor distinction, but it's not. In decades of working with billionaire hedge fund managers and traders, he's found that traders that are passionate about trading don't put in the work and trade too much.

To be successful trading, Dr. Steenbarger has learned:

1.   A rule of thumb for how traders should control losses so that they never lose more in a morning than they can make in an afternoon, more in a day than they can make in a week and more in a week than they can make in a month;

2.   Why traders should not just focus on minimizing their weaknesses, but also maximizing their strengths;

3.   A simple trading journal that will help you improve each day; and

4.   That the best traders are ones that embrace losses and use them to become better.

Author: Dr. Brett Steenbarger

Source: https://blog.topsteptrader.com/brett-steenbarger-limit-up-futures-trading

www.tallinex.com wants you to make money from the markets.

probably you are right keeping the simple things always in our mind is more important than anything because they will be the most helpful for you to get the success and your points is also like this to make the success everyone need to follow this.

Homorton

newbie

Activity: 126

Merit: 0

Quote from: werokez on April 23, 2019, 12:59:26 PM

Quote from: Homorton on April 23, 2019, 12:56:10 PM

it’s vital to analyze market all time, find respectable researches

Oh there are a lot of them, lately I began to use reports of velvet exchange trading platform or same old binance for instance

link?

werokez

newbie

Activity: 140

Merit: 0

Quote from: Homorton on April 23, 2019, 12:56:10 PM

it’s vital to analyze market all time, find respectable researches

Oh there are a lot of them, lately I began to use reports of velvet exchange trading platform or same old binance for instance

Topic: 4 Things Traders Must Do To Be Successful (Read 19177 times)