cheers for the insightful lessons and i find that very relevant for the intermediate trader
also its benefiticial to learn the high level concepts and tactical knowledge
https://www.altcoinsidekick.com/blog/thinking-in-threes
Topic: 4 Things Traders Must Do To Be Successful - page 10. (Read 19095 times)
4. That the best traders are ones that embrace losses and use them to become better.
To be a good trader, i think he should not be afraid to commit mistake and always explore the possibility of finding an opportunity. Each one of us can commit mistake but we should make this mistake a lesson for us to grow.Yes mistakes can be the lesson for us to grow, experienced would be great to be become a good and successful trader in crypto. Every traders here have own strategy, knowledge about in trading, make a research for sure it would be great.
Embracing losses is a mistake, learning from them and accepting they're inevitable is correct but you shouldn't pursue losses and they should still hurt. You need to minimize how often you lose and how much you do lose.
Normally, trading itself is not even something you should always expect 100% win, strategy is just there to guide you. I know so many people who have made the mistake of thinking that once they have the knowledge and strategy, they are already set for big wins, but it is trading, and you are only taking advantage of possible fluctuations, so you really want to put in mind that losses are also possible, but how you are able to manage them is what would determine how good you tend to do eventually.
True! I tend to think sometimes, a lot of people always never get to know that beforehand that losing is also part of trading and that is why you need to know that to be able to know how you can always manage the reward and the risk anytime you are trying to make a trade. Like you said, with strategy, and TA, they are more or less like a guide to anticipate what the market is possibly going to bring, set a trade for yourself based on some price action and your strategy, and then know what you are looking at when it comes to setting stop loss, where you are picking your profit and where you are getting in.
One more important thing is discipline. I just attended a seminar on how to invest good stock. All of them give an answer that is disciplined. We have to put ourselves in a mold and set the plan. Never invest without a strategy or plan. Because greed will make us fail.
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.
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.
I read somewhere that for you to be really good in trading, you have to trade with NO emotion. I realized that this is true when I tried day trading a shitcoin. Like I couldn't care less whether I loose it all. But I keep gaining.
After a few days from 150k pieces it went up to 580K. That was awesome. I hope I can be like that when I'm trading some token I have that are of a bit value. But honestly personally, it it hard for me. However, when you have knowledge of what you are doing and a perfect strategy to execute your trade, over time, you will get confident in yourself and see that emotion is not even going to be a thing at all.
THESE 4 TRAITS WILL MAKE TRADERS SUCCESSFUL
This looks like the titles that the guys who sell things on the internet
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
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
The only things people need is:
- knowledgeable
- Money can afford to lose
that is all.
www.tallinex.com wants you to make money from the markets.
Hmmm... what's this? Is some magic formula to get rich?
Not only with the single step when you begin trading you may successful, but you also have faced many losses before you've learned in trading strategies. OP has been a good point on the post, but an experience to be a successful trader is a must and not relying on others hand work just like listening to others opinion. Of course, don't forget to choose reliable and having good reputation exchanges.
There are so many things a trader must do to be successful. You just have this learn about them and know where you are standing. A trader must learn how to control his or her emotions. Don't allow free take over you.
I think the most important if to be succesfull to become a trader you must control your emotion because all the knowledge that you have been mastered won't help you when your emotions can't be controlled.
You know the main thing that makes you have the ability to control your emotions? That is knowledge! Trust me, there is absolutely no way you will be able to deal with emotion, if you are not even confident of your own capabilities and ability to make good trades. Now, this is something that is always subject to your approach to trading most of the time, and for most people that tend to always approach trading without knowledge, strategy, and continuous practice and back testing before entering the real world, will always keep having problems.
Couple of things which I have observed is that a trader should always set the goals and have the upper and lower limit of the price. If that is trigger they should exit the position and should not be greedy which can cause a huge problem. As market being very volatile it can go other way around and you make more losses if you do not exit it on right time as per your principles.
The problem with most traders that I have seen over the years is that they assume trading to be a pure gambling and they approach it that way and in such cases, there is absolutely no way they will never eventually get screwed and flop most of the time. Trading is wide and complex and you need to give your time into learning first if you want to get the best from it. Without learning and some pretty good practice, you cannot even come by with a strategy, have an idea how to control loss, not get emotional, maximize opportunities and focus on how to fine tune their strategies over timeIf 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.
The best trait I would say for any trader that wants to be successful is to have the keen interest to learn and never stop learning. This is a huge profession and if you manage to get the idea that it something easy which you can just hop into without some great deal of knowledge, the chances of seeing yourself get screwed will always be there. One thing with trading is that as long as you can learn well, and be dedicated to it, as well as practicing to get better, then there is no way you won't be able to put some attributes and skills into good use.Trading is all about how you are able to build a strategy, know how to manage risk and your funds, and have the ability to trade with your strategy without having to put any emotion at any point in time. Just know what you are doing and keep building your confidence and you will be fine.
1) Good mindset
2)money management
3)develop there own trading system
4)never complicate things , use simple things it works great,
5)practice
not only that can make our trade work well, but with patience is the key to our success because by overcoming the market conditions that are destroyed again, patience is what we will definitely use to avoid losses that will be received2)money management
3)develop there own trading system
4)never complicate things , use simple things it works great,
5)practice
So in this case, you are assuming you should not have a strategy when it comes to stopping loss, or when it comes to when you want to be selling. What will make you avoid losses as a trader is your knowledge and experience, and not patience bro.
4. That the best traders are ones that embrace losses and use them to become better.
The point is that losses aren't always not a bad thing that you should cry about, many traders become experts because they learn from their losses, experience provides the best knowledge because it provides actual solutions to your problems in trading, what is important is not to be sad because of losses
These method can be helpful only when people will realize that they are walking on wrong road. Now, people take trading as simple things. But they have to remember that it is not a easy work. Buy low and sell high, make 3-5% profit also can help to be successful on trading.
Great points listed there sir and am not surprised they all talk about mistakes, mistakes, Robert Kiyosaki said the best way to learn is to fail fast and learn fast those mistakes.Jack Ma also said "we learn from others mistakes not because we want to escape them, rather to help us so we can solve it fast when we encounter one. Thanks for the education sir 
4. That the best traders are ones that embrace losses and use them to become better.
To be a good trader, i think he should not be afraid to commit mistake and always explore the possibility of finding an opportunity. Each one of us can commit mistake but we should make this mistake a lesson for us to grow.Yes mistakes can be the lesson for us to grow, experienced would be great to be become a good and successful trader in crypto. Every traders here have own strategy, knowledge about in trading, make a research for sure it would be great.
4. That the best traders are ones that embrace losses and use them to become better.
To be a good trader, i think he should not be afraid to commit mistake and always explore the possibility of finding an opportunity. Each one of us can commit mistake but we should make this mistake a lesson for us to grow.Yes mistakes can be the lesson for us to grow, experienced would be great to be become a good and successful trader in crypto. Every traders here have own strategy, knowledge about in trading, make a research for sure it would be great.
4. That the best traders are ones that embrace losses and use them to become better.
To be a good trader, i think he should not be afraid to commit mistake and always explore the possibility of finding an opportunity. Each one of us can commit mistake but we should make this mistake a lesson for us to grow. 
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.
trade can make motivation for many people. I see the trading trick about the loss can be used as a spirit to continue to do the best because if you give up after getting a loss I think it is not the best action for success in traders. 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.
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.
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.
I read somewhere that for you to be really good in trading, you have to trade with NO emotion. I realized that this is true when I tried day trading a shitcoin. Like I couldn't care less whether I loose it all. But I keep gaining.
After a few days from 150k pieces it went up to 580K. That was awesome. I hope I can be like that when I'm trading some token I have that are of a bit value. But honestly personally, it it hard for me. 1) Good mindset
2)money management
3)develop there own trading system
4)never complicate things , use simple things it works great,
5)practice
not only that can make our trade work well, but with patience is the key to our success because by overcoming the market conditions that are destroyed again, patience is what we will definitely use to avoid losses that will be received2)money management
3)develop there own trading system
4)never complicate things , use simple things it works great,
5)practice
Trading is not investment that you are just holding for the long term, which in this case, you are basically taking advantage of the fluctuations, and patience is actually the last thing you want to be considering.
Have knowledge, build a strategy which includes where to buy, sell and place stop loss, and then execute it with confidence after practising for a while, and i see no way patience should even come into that equation at all.
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