Topic: 5 Things All traders should Do (Read 5660 times)

The advice is very useful and probably not everyone can do. I was also quite panicked and worried when my money kept dropping a lot (40%). Not a small number, then I actually accepted the losses and sold them at low prices because I thought it might decrease further. And it is a mistake for the newbie because anyone who has experience will understand the rule of reduction will increase again. I received a big lesson - maybe a tuition for success. I can now control my emotions and business with a cold head and logical analysis of the market. A long way to go to success and business is adventure.

I totally agreed because I have been there as well. I tried to study and learn through reading and textbooks. But I said to myself that it is better if I will go on trading because you will not know if you are going to be successful if you just read all the books. So I started with small capital and work my way up. I encountered a lot of challenges a long the way, but I kept on going until I go learn some good strategy and method on how to be a successful trader. I know its a long way to go but I will not lose faith eventhough that there are bumps that I face a long the way.

Trading is not a school lesson that you’ll be told by someone and you will remember it in your whole life. It is just the experience which makes you a good trader. You keep on learning new things with the passage of time, which helps you out in doing effective business. But if you think that someone will tell you and you’ll become successful trader, this is near to impossible.

It is the use full for the trading and inprove the busines and skill it will resolve the issue and change the busines process it give more information for the trading and how to change process and procger it the use full one for the trating process.
1)Never be emotional 2)Always be prepared 3)Never put all your eggs in one basket 4)Never sell all your coins at once 5)Always be logical

Well aside from these i think it's also important to develop a skill in reacting accordingly to any market situations. Most of the time this will come through experience and practice and learning how to quickly adjust will probably be as big a help in trading as having enough patience to avoid panic

Not only near to impossible but totally out of question. No one is going to share their precious and secret strategies of making successful trades. We all know that experience is the best teacher, we learn best from our mistakes and I will advise the same for trading. Try to learn trading with small amounts.

Trading is not a school lesson that you’ll be told by someone and you will remember it in your whole life. It is just the experience which makes you a good trader. You keep on learning new things with the passage of time, which helps you out in doing effective business. But if you think that someone will tell you and you’ll become successful trader, this is near to impossible.

You can not always be all these! Those things you said we should be or be not are the very things that make us human. However having control and balance is what make you a trade duper super star

If you don’t control emotions then they play with you. Trading is all about the risks and the things going up and down. As you are new for trading just relax when trading, just make a strong decision based on analysis of price charts and also follow some strategy along with money management techniques.

I guess any 5 things alone will not be sufficient for perfect trading. We need to focus on lots of aspects of trading so that we can have successful trading experiences.

The following 5 things are easy to internalize because these tips were “written in blood” (my own blood  Lols   ). However, it’s still difficult to apply them in real-time. After all, we are not rational human beings.

1) Reason For Entering Trade: Start a trade only when you know why you’re starting and have a clear strategy for afterwards.
Not all traders make gains from trading, since this is a zero-sum game (for everyone who benefits someone else loses on the other side).The Altcoins market is driven by large whales (yes, the same ones responsible for placing huge blocks of hundreds of Bitcoins on the order book).

2) Target & stops: For each trade we must set a clear target level for taking profit and more importantly, a stop-loss level for cutting losses. A Stop-loss is setting the level of loss where the trade will get closed.

3) Meet FOMO (fear of missing out): Indeed, it really isn’t fun to see such situations from the outside – when a certain coin is being pumped up like crazy with huge two-digit gains in minutes.

4) Risk Management: little pig eats a lot, big pig gets eaten. This statement tells the story of the market profits from our perspective. To be a profitable trader, you never look for the peak of the movement. You look for the small profits that will accumulate into a big one.

5) The Asset creates Volatile Market Conditions: Most Altcoins are traded according to the Bitcoin value.
Bitcoin is a volatile asset (relative to FIAT) and this fact should be taken into consideration, especially in the days when the Bitcoin value is moving sharply.

There are many things like Maintaining a Journal,Upgrading your strategy,Dynamic change in market Behaviour, Checklist for your Trading Plan, Psychological Mindset , all these plays a vital role in traders career and these are also important to know for Every trader.