4 Things Traders Must Do To Be Successful - page 6.

TheUltraElite

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Quote from: Lanatsa on December 06, 2018, 07:48:40 AM

Even on traditional investments like Forex and stocks where manipulation and problem of emotion would really be still present no matter what. This is really just like a gamble if we don't know on how to handle ourselves into this field.

However if you are analysing the market for a long time you will get an idea of the trend. Like for bitcoin there has been a gradual rise in adoption and due to the fact that its the biggest of all other crypto we can be sure that in future altcoins will be manipulated by rise and fall of bitcoin. Seeing the obvious growth and development of bitcoin one can decide to invest in it but when to invest is the bigger question.

Quote

Mistakes cant be avoided but somehow can really be lessen depending on how we do handle it. Being successful cant be achieve if we wont able to experience lots of mistakes.

Sometimes not jumping in when other are jumping in is a good choice. Holding back to attack the market when people are least suspecting it often works. Mistakes will be made but there is no use having regret on those.

anntlevel

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Quote from: analyst100 on October 26, 2018, 01:19:12 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.

As you’re minimizing your weakness, you’re as well maximizing your strength. And it’s always good for traders to always keep records of their trades.Your post is a good one and I will also like to add that newbies should know the relationship between risk and reward, if you don’t take risk there will be no reward for you.

Lanatsa

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Quote from: TheUltraElite on December 06, 2018, 07:12:31 AM

Quote from: rodskee on December 05, 2018, 06:50:02 PM

Exactly traders didn't accept weakness they want always positive in their strengths
But if they realize need to accept the weakness to reform all mistakes decision

Well most of the do understand their mistakes but in the market where predicting the price comes to be based on manipulation and social buzz its sometimes tough to know when to buy or sell. Those who dont rectify their method when they make mistakes dont run too long because they would keep losing money trying to make good profits.

But honestly speaking its a bit of a gamble when its something like crypto - because the level of panic associated with it is huge and people cant keep their trigger happy fingers under control.

Even on traditional investments like Forex and stocks where manipulation and problem of emotion would really be still present no matter what. This is really just like a gamble if we don't know on how to handle ourselves into this field. Mistakes cant be avoided but somehow can really be lessen depending on how we do handle it. Being successful cant be achieve if we wont able to experience lots of mistakes.

TheUltraElite

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Call your grandparents and tell them you love them

Quote from: rodskee on December 05, 2018, 06:50:02 PM

Exactly traders didn't accept weakness they want always positive in their strengths
But if they realize need to accept the weakness to reform all mistakes decision

Well most of the do understand their mistakes but in the market where predicting the price comes to be based on manipulation and social buzz its sometimes tough to know when to buy or sell. Those who dont rectify their method when they make mistakes dont run too long because they would keep losing money trying to make good profits.

But honestly speaking its a bit of a gamble when its something like crypto - because the level of panic associated with it is huge and people cant keep their trigger happy fingers under control.

Pattart

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Quote from: TheUltraElite on December 04, 2018, 04:40:42 AM

Quote from: Lynks on December 01, 2018, 07:18:51 AM

Each traders should learn how to trade without emotions.

Its not possible for humans to do that. Its tough for those who are having a strong mindset but can be done if you are practicing enough. Weak hearted people are not going to get any place here.

Thats right, emotional feelings are a common thing experienced by humans, but good traders who can resist their emotions so as not
to influence their calculations, analysis and choices..

Siren

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Quote from: analyst100 on October 26, 2018, 01:19:12 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 this applicable for crypto trading also?as i think this trading attitude is not belongs for this volatike market or i maybe wrong so i stand to be corrected.
But i will try to apply this once i return trading from a long stop for almost a year now
The advices are great but i think i need to read the whole link for better outcome as this is a serious matter if we really wanna become a good trader

Finestream

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Quote from: Savemore on December 05, 2018, 09:50:28 AM

Quote from: analyst100 on October 26, 2018, 01:19:12 PM

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.

These 2 things are the way for the traders to become successful someday. By trading each day, we can improve our trading skills and we will get many experiences. As a trader, I always accept my losses and I uses the past mistake that I did for me to become more better trader.

Same with mine too.Even if i made a lot of mistakes and losses in trading,i don't have reasons to give up.Instead,i have learned from them and have developed my skills in trading.Losing is just normal in trading because not all the time you can expect profits.There are times too that you will end up losing in trading.

rodskee

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Exactly traders didn't accept weakness they want always positive in their strengths
But if they realize need to accept the weakness to reform all mistakes decision

rebrik7

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Quote from: analyst100 on October 26, 2018, 01:19:12 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.

Interesting advices, I think I should to read more materials from this Dr. Brett Steenbarger.
I didn't hear about him before.

Savemore

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Quote from: analyst100 on October 26, 2018, 01:19:12 PM

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.

These 2 things are the way for the traders to become successful someday. By trading each day, we can improve our trading skills and we will get many experiences. As a trader, I always accept my losses and I uses the past mistake that I did for me to become more better trader.

sinkfish

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Quote from: analyst100 on October 26, 2018, 01:19:12 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.

dont be greedy, trade more, read more. know more.

Malamok101

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Nice advice for all crypto traders that willing to learn and to earn daily but they can't stop the experiencing the bull run of the market so get lossing that they funded in the market.

Tanmoy98

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I thinks this is the four things must do to be successfull-
1. The trader have to active 75% in a day
2. Always read the website of the altcoin you want to buy.
3. Everday visit their social media page.
4. And also knowing the market condition is more important.

TheUltraElite

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Call your grandparents and tell them you love them

Quote from: Lynks on December 01, 2018, 07:18:51 AM

Each traders should learn how to trade without emotions.

Its not possible for humans to do that. Its tough for those who are having a strong mindset but can be done if you are practicing enough. Weak hearted people are not going to get any place here.

Quote

Learn to know when to sell off and when to buy.

You can never teach them that. Everyone more commonly and accidentally buy at the pump. Either they are willing to join the bandwagon to get fomoed or they were told by some "analyst" (read, Shill pumping youtuber).

Quote

Don't fall in love to much with a particular token. Trade also using TA and SA

TA wont give you the point to sell or buy. That you have to decide. Do lean to much on TA because sideways movement is often going to happen in the sort term.

hermankoles

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I think this is only limited to motivation for trading because the details for trading are more difficult than that. for a trader must be sensitive to changes in market trends, patient, not greedy and also able to make the right decisions in all market conditions

Harlot

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Keep in mind that controlling losses is way different from cutting your losses. Controlling losses or stop losses is your most likely back up plan when your trade didn't go as plan or where prices that you think should go up instead it goes down. In cutting losses you are selling the asset when you have incurred extremely big losses which is more than -10%. Controlling losses is something more of a planned loss where you really want to protect your capital in order for it worthy for your another trade plan.

Indrawan77

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Its a good advice but all of that is too common and some people don't know how to implement it, all of us know tgat we need to control ourselves vut sometimes when we found a good opportunity to make money with limited time then we are going to rush the decision, many people also said buy low sell high but the implementation is not that simple, there are numerous factors to consider, trading need experience and and we need to keep on learning and try new things, dont afraid to fail as long as you learn to do better next time

lenovop-70

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One more if allowed to say : put your daily target, if you has reach it, put off all your instrument of trading, read more reference for your next day strategy.
Remember, your greedy things will defeat you if you not well maintained it!
It's easy to say, in fact, greed still often beats me, Sad

God bless us folks.

pinoyden

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Quote from: asyakashi on December 01, 2018, 11:55:59 AM

Quote from: bummm on November 25, 2018, 02:39:53 AM

Quote from: Yusuf77 on November 17, 2018, 04:16:45 PM

if we want to succeed in trading we must be able to control our emotions first and then make a trading plan, being good at finding opportunities and being patient is the key. emotions and panic will only plunge us into losses, so don't ever do it if you want to succeed.

No doubt, all of these things are very important. A real trader should control his emotions and forget the word "panic". Meanwhile, you will never have any success if you do not learn about the crypto every day.

Panic is a reasonable expression, there are things that can be accepted and not. who cannot be brutally panic and eliminate market logic. this is uncontrolled emotion. Cut loss is also part of panic, securing your assets is part of panic.

all parts of panic that you mentioned above are also under the emotion category because you cannot possibly panic if you are a robot that doesnt have any emotions . so what i mean to say is that we shouldnt forget our emotion as it is still verry important to think and act properly when compared to bots/robots because they are only programmed by a human . i also believe that there isnt any succesful trader in cryptocurrency because the price of cryptos arent stable which means all of us can still loose more than what we earn .

a real success is able to achieve steady/stable results with minimal to no looses at all and that isnt really possible on the case of cryptos .

asyakashi

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Quote from: bummm on November 25, 2018, 02:39:53 AM

Quote from: Yusuf77 on November 17, 2018, 04:16:45 PM

if we want to succeed in trading we must be able to control our emotions first and then make a trading plan, being good at finding opportunities and being patient is the key. emotions and panic will only plunge us into losses, so don't ever do it if you want to succeed.

No doubt, all of these things are very important. A real trader should control his emotions and forget the word "panic". Meanwhile, you will never have any success if you do not learn about the crypto every day.

Panic is a reasonable expression, there are things that can be accepted and not. who cannot be brutally panic and eliminate market logic. this is uncontrolled emotion. Cut loss is also part of panic, securing your assets is part of panic.

Topic: 4 Things Traders Must Do To Be Successful - page 6. (Read 19095 times)