A good advice for every traders. - page 12.

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Quote from: Meowth05 on December 22, 2019, 09:49:18 AM

I do also think that it is not the right time to day trade due to some reason that most of the coins are dump and not making any big movement. The perfect time for daily trade in my opinion is if market is in balance state where not downtrend or uptrend. Anyway, I think after the halving we might see a bit difference so just grip for a moment until the right time comes.

Day trade is admittedly profitable as a result of we will create heaps of profit during a short amount of your time thus we regularly like day trade. However, in some cases the quantity of vaccines becomes too high and lots of suffer from depression. However, it's true that folks like day trade over long trade.

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Quote from: wajik-tempe on December 22, 2019, 09:35:48 AM

Quote from: ?? on ??

It was quite a while since I've updated my #6. I stopped day trading because I wasn't having enough time to do and learn the ropes of in-depth day trading plus it isn't a pleasant start so I was kinda demotivated to continue day-trading 5 different coins in Binance. That was the exchange that where I day traded first.

Yeah we need to really motivated to do a day trading with this current condition of the market, if we really good enough at trading i'm sure we still can earn money from it but the chance is so low due to more coins are down compared to rising coins. Hope next year will be good for day trading and hoping bitcoin price is rising too.

I do also think that it is not the right time to day trade due to some reason that most of the coins are dump and not making any big movement. The perfect time for daily trade in my opinion is if market is in balance state where not downtrend or uptrend. Anyway, I think after the halving we might see a bit difference so just grip for a moment until the right time comes.

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Quote from: ?? on ??

It was quite a while since I've updated my #6. I stopped day trading because I wasn't having enough time to do and learn the ropes of in-depth day trading plus it isn't a pleasant start so I was kinda demotivated to continue day-trading 5 different coins in Binance. That was the exchange that where I day traded first.

Yeah we need to really motivated to do a day trading with this current condition of the market, if we really good enough at trading i'm sure we still can earn money from it but the chance is so low due to more coins are down compared to rising coins. Hope next year will be good for day trading and hoping bitcoin price is rising too.

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Quote from: yarlungzangbo on December 22, 2019, 04:15:42 AM

Quote from: davinchi on December 18, 2019, 03:24:22 AM

Another thing is that anyone who wants to be a trader needs to consider the coins they choose. There are lots of coins in the market, and some of them have a huge market cap, whereas others have a market cap that is smaller. You should know what these means for every coin. If you're choosing a coin that has a smaller market cap then you should know that they are vulnerable to wild volatility, but coins with bigger market caps are not.

The next thing one has to check is the trading volume, trading volume is a very important thing to check for. And as you have said, using stop losses and pre-determined levels taking profits is very important.

Overall there are infinite aspects and factors, every trader must need to focus and should be being conscious while trading. No one could list out all of them as covering each and everything could be possible only be experience. This is the reason why professional traders are suggesting about continuous learning as the only way to be staying competitive in trading field.

Yeah, you are right. The succeed people who get good profit in trading, they only believe in some good subject. We always heared some story about bitcoin make people rich, but we few to hear the story about altcoins make people rich. Lol. If someone new trader want to earn money, just buy bitcoin

In my own point of view, we should not focus only in bitcoin because it is much better to split our profit to avoid huger risk, especially when we are facing a bear market. If you will choose a coin you better invest your money in top coins in the market for you not to worry to much. When you are trading, you also need to control your emotions, especially when the price of your coin is down, so that you will not panic sell and will not have any regrets.

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Quote from: davinchi on December 18, 2019, 03:24:22 AM

Another thing is that anyone who wants to be a trader needs to consider the coins they choose. There are lots of coins in the market, and some of them have a huge market cap, whereas others have a market cap that is smaller. You should know what these means for every coin. If you're choosing a coin that has a smaller market cap then you should know that they are vulnerable to wild volatility, but coins with bigger market caps are not.

The next thing one has to check is the trading volume, trading volume is a very important thing to check for. And as you have said, using stop losses and pre-determined levels taking profits is very important.

Overall there are infinite aspects and factors, every trader must need to focus and should be being conscious while trading. No one could list out all of them as covering each and everything could be possible only be experience. This is the reason why professional traders are suggesting about continuous learning as the only way to be staying competitive in trading field.

Yeah, you are right. The succeed people who get good profit in trading, they only believe in some good subject. We always heared some story about bitcoin make people rich, but we few to hear the story about altcoins make people rich. Lol. If someone new trader want to earn money, just buy bitcoin

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Quote from: Twentyonepaylots on December 21, 2019, 10:31:09 AM

Quote from: ?? on ??

It was quite a while since I've updated my #6. I stopped day trading because I wasn't having enough time to do and learn the ropes of in-depth day trading plus it isn't a pleasant start so I was kinda demotivated to continue day-trading 5 different coins in Binance. That was the exchange that where I day traded first.

Glad you stopped a while in trading in the past months because it is very tragic, really. I have lost my 30% capital in the past month due to too much confidence with my analysis, I expected the market to plummet approaching the holiday season since people are getting their extra pays for this year. With this kind of market Binance who has the biggeat trading volume is the best option you got coz you'll have a huge chance than the lower trading volume exchanges.

90% win rate means when you traded 5times you only have 59% win rate to win these 5times trading. So keep less your do, and think more about yoursel/market.

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Quote from: Twentyonepaylots on December 21, 2019, 10:31:09 AM

Quote from: ?? on ??

It was quite a while since I've updated my #6. I stopped day trading because I wasn't having enough time to do and learn the ropes of in-depth day trading plus it isn't a pleasant start so I was kinda demotivated to continue day-trading 5 different coins in Binance. That was the exchange that where I day traded first.

Glad you stopped a while in trading in the past months because it is very tragic, really. I have lost my 30% capital in the past month due to too much confidence with my analysis, I expected the market to plummet approaching the holiday season since people are getting their extra pays for this year. With this kind of market Binance who has the biggeat trading volume is the best option you got coz you'll have a huge chance than the lower trading volume exchanges.

There were indeed high hopes from the market by the end of the year as you quoted the reason for these hopes and that was the very reason there were speculations about the increase in the values of cryptos by the start of December but the market is still not showing any positive signs for sellers. It is favoring only buyers. I will suggest you simply holding onto your coins and do trading only with altcoins.

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Quote from: ?? on ??

It was quite a while since I've updated my #6. I stopped day trading because I wasn't having enough time to do and learn the ropes of in-depth day trading plus it isn't a pleasant start so I was kinda demotivated to continue day-trading 5 different coins in Binance. That was the exchange that where I day traded first.

Glad you stopped a while in trading in the past months because it is very tragic, really. I have lost my 30% capital in the past month due to too much confidence with my analysis, I expected the market to plummet approaching the holiday season since people are getting their extra pays for this year. With this kind of market Binance who has the biggeat trading volume is the best option you got coz you'll have a huge chance than the lower trading volume exchanges.

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Quote from: Capt00 on December 20, 2019, 06:28:48 PM

Quote from: Edraket31 on December 20, 2019, 11:35:50 AM

Quote from: jcpone on December 20, 2019, 09:57:49 AM

The individual traders must have passion, dedication, and strong determination when they do trading in the exchange.
They also must be patience, don't be too emotional when the movement in the market price is not good, always calm and relax, instead of getting panic or worry it won't give any help at all in the end.

And that they should love and enjoy what they are doing, we all know how it is stressing crypto is but if we will not let ourselves loving what we are doing then we cannot help ourself but we willl be depressed and stressed out everytime that we are losing in trading, and also make some goal of what you want to achieve and always analyze the mistakes you made.

I believe all successful traders have this instinct. They don't think that trading could be a stressful job instead, they find themselves comfortable with doing this. Pretty sure they achieve their goals cause they have passion and dedication which is very important when you are running the business. If we think that trading is difficult to learn, it surely we won't succeed.

Giving explain with trading in bitcoin and altcoin is easy but we don't know what happen when we start for trading because many thing without prediction before happen with bitcoin and altcoin price, when we are looking bitcoin and altcoin have higher price and market looks good but few hour later price dump and we lost chance to get much profit with bitcoin and altcoin investing.

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Quote from: Edraket31 on December 20, 2019, 11:35:50 AM

Quote from: jcpone on December 20, 2019, 09:57:49 AM

The individual traders must have passion, dedication, and strong determination when they do trading in the exchange.
They also must be patience, don't be too emotional when the movement in the market price is not good, always calm and relax, instead of getting panic or worry it won't give any help at all in the end.

And that they should love and enjoy what they are doing, we all know how it is stressing crypto is but if we will not let ourselves loving what we are doing then we cannot help ourself but we willl be depressed and stressed out everytime that we are losing in trading, and also make some goal of what you want to achieve and always analyze the mistakes you made.

I believe all successful traders have this instinct. They don't think that trading could be a stressful job instead, they find themselves comfortable with doing this. Pretty sure they achieve their goals cause they have passion and dedication which is very important when you are running the business. If we think that trading is difficult to learn, it surely we won't succeed.

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Quote from: jcpone on December 20, 2019, 09:57:49 AM

The individual traders must have passion, dedication, and strong determination when they do trading in the exchange.
They also must be patience, don't be too emotional when the movement in the market price is not good, always calm and relax, instead of getting panic or worry it won't give any help at all in the end.

And that they should love and enjoy what they are doing, we all know how it is stressing crypto is but if we will not let ourselves loving what we are doing then we cannot help ourself but we willl be depressed and stressed out everytime that we are losing in trading, and also make some goal of what you want to achieve and always analyze the mistakes you made.

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Quote from: doomloop on December 19, 2019, 02:20:37 PM

Quote from: Distinctin on December 18, 2019, 05:30:24 AM

Quote from: matchi2011 on December 17, 2019, 08:07:13 AM

Quote from: johnwest on December 16, 2019, 12:05:22 PM

Reading is the first step for successful trading, you need to know allot of things in order to make profit regularly in trading. Also people use different strategies as some are aggressive and try every experiment and some do long term holding. Also be careful of sudden pumps or dumps of Bitcoin as alts will go down whenever there is a fluctuation.

It's about the type of risk that each traders wanted to take and how they can manage to take care of each responsibilities. Traders with high hope keeps being optimistic and will continue finding the right ways. Don't rush everything as time will allow you to learned the right system that will be beneficials with your stay inside the trading market. Wild but profitable once you learned the right attitude when investing to this business.

I'd like to the way you say "Don't Rush". People rush to Bitcoin investment because they are too optimistic about being profitable and instantly get their returns. But this is also a reason for their losses. Why? Because most of them never know exactly what they are doing. However, it is to believe that luck might be there and even they lose but still they stand cause of their trust in crypto and hoping to have luck in the next round.

Their expectations from bitcoin are right but the problem is basically instant expectation of the returns. This is not possible with bitcoin. Bitcoin takes good time in order to make you rich and in that time you have to support it without getting panicked and selling it off at low prices. Such people simply need to understand how bitcoin and other crypto currencies really work in regard of profits.

Their expectations are good but somehow it is not easy as they think. We can't have an instant return and sadly they don't expect that was will happen. People are just expecting huge money returns but they neglect to think also if somehow they could suffer or not. That is the reason why some traders easily quit when they struggle losses and then thinking that crypto is just a scam.

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The individual traders must have passion, dedication, and strong determination when they do trading in the exchange.
They also must be patience, don't be too emotional when the movement in the market price is not good, always calm and relax, instead of getting panic or worry it won't give any help at all in the end.

doomloop

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Quote from: Distinctin on December 18, 2019, 05:30:24 AM

Quote from: matchi2011 on December 17, 2019, 08:07:13 AM

Quote from: johnwest on December 16, 2019, 12:05:22 PM

Reading is the first step for successful trading, you need to know allot of things in order to make profit regularly in trading. Also people use different strategies as some are aggressive and try every experiment and some do long term holding. Also be careful of sudden pumps or dumps of Bitcoin as alts will go down whenever there is a fluctuation.

It's about the type of risk that each traders wanted to take and how they can manage to take care of each responsibilities. Traders with high hope keeps being optimistic and will continue finding the right ways. Don't rush everything as time will allow you to learned the right system that will be beneficials with your stay inside the trading market. Wild but profitable once you learned the right attitude when investing to this business.

I'd like to the way you say "Don't Rush". People rush to Bitcoin investment because they are too optimistic about being profitable and instantly get their returns. But this is also a reason for their losses. Why? Because most of them never know exactly what they are doing. However, it is to believe that luck might be there and even they lose but still they stand cause of their trust in crypto and hoping to have luck in the next round.

Their expectations from bitcoin are right but the problem is basically instant expectation of the returns. This is not possible with bitcoin. Bitcoin takes good time in order to make you rich and in that time you have to support it without getting panicked and selling it off at low prices. Such people simply need to understand how bitcoin and other crypto currencies really work in regard of profits.

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Quote from: quarkfx on December 19, 2019, 06:10:51 AM

Quote from: naikturun on December 17, 2019, 10:01:15 AM

Quote from: hugeblack on December 10, 2019, 02:32:26 AM

They are good advice, but you need to set your goal carefully. When you define a goal, you can determine the path that leads to this goal and then choose the best path to do so.
There is no such thing as "the logic of your trading". There are goals and a way to achieve them. This method is not required to be fixed, but it changes with events.

Generally, these are psychological tips for speculators and not advice on how to do trading.

goals like how much $ you want to get and when it's fulfilled you have to stop, some people might have my mind about trading and if possible take as much profit as possible: p
stop being greedy, or you will be swayed like a ship without sails in the sea.

weekly goals of making $ is good we will be knowing how much we have to make , this way we can manage position and avoid being greedy, knowing how to manage position is very important

This just means that a day trader should make a list of its every trade for him to enable to manage his buy and sell order to make some profit. Every traders should have their own strategy to find what would be the best strategy to suit their needs when trading.

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Quote from: yarlungzangbo on December 10, 2019, 12:47:52 AM

Usually, we are trading with market, and we have our own trading logic. But , after you are trading for a long time , you will find you are trading with yourself and the biggest enemy is you.

You may have a good trading logic , and you always earning money from the market , but you are still afraid of lossing, am i right?

Every trader should believe in his own trading logic just like a belief, you can't move it. Lossing are not terrible and you should like it.

So i have some advices:

1. make sure you are believe in your trading logic
2. record the reason when you open trade
3. take profit and stop loss strictly
4. back to the records when you close trade, and think why you are earning or lossing
5. according to the records , if you find something wrong with your trading logic, fix it
6. add your trade into a trade journal (advice from @GreatArkansas)
7. do the things 1-6 above again

Does any trader record the reason of opening trade? And how do you guys practice it? Let's talk about it.

Number 3 is really important. Setting a trail stop means to control your greed as well and having a stop-limit means valuing the money you invested.
Like others said to treat your trade as your business, not a gamble.

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Quote from: naikturun on December 17, 2019, 10:01:15 AM

Quote from: hugeblack on December 10, 2019, 02:32:26 AM

They are good advice, but you need to set your goal carefully. When you define a goal, you can determine the path that leads to this goal and then choose the best path to do so.
There is no such thing as "the logic of your trading". There are goals and a way to achieve them. This method is not required to be fixed, but it changes with events.

Generally, these are psychological tips for speculators and not advice on how to do trading.

goals like how much $ you want to get and when it's fulfilled you have to stop, some people might have my mind about trading and if possible take as much profit as possible: p
stop being greedy, or you will be swayed like a ship without sails in the sea.

weekly goals of making $ is good we will be knowing how much we have to make , this way we can manage position and avoid being greedy, knowing how to manage position is very important

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Quote from: yarlungzangbo on December 10, 2019, 12:47:52 AM

1. make sure you are believe in your trading logic
2. record the reason when you open trade
3. take profit and stop loss strictly
4. back to the records when you close trade, and think why you are earning or lossing
5. according to the records , if you find something wrong with your trading logic, fix it
6. add your trade into a trade journal (advice from @GreatArkansas)
7. do the things 1-6 above again

Good advice especially for beginners. If I open a trade I dont really think about the reasons, I just follow my instinct and judgement on why im doing it. Im not even bother to review my past trades and analyze what should be done or not. I like your points here its a useful tips for traders who dont have concrete plan to follow and careless in trading.

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Quote from: arwin100 on December 19, 2019, 05:30:02 AM

Quote from: Savemore on December 18, 2019, 10:08:37 PM

Quote from: Distinctin on December 18, 2019, 05:30:24 AM

Quote from: matchi2011 on December 17, 2019, 08:07:13 AM

Quote from: johnwest on December 16, 2019, 12:05:22 PM

Reading is the first step for successful trading, you need to know allot of things in order to make profit regularly in trading. Also people use different strategies as some are aggressive and try every experiment and some do long term holding. Also be careful of sudden pumps or dumps of Bitcoin as alts will go down whenever there is a fluctuation.

It's about the type of risk that each traders wanted to take and how they can manage to take care of each responsibilities. Traders with high hope keeps being optimistic and will continue finding the right ways. Don't rush everything as time will allow you to learned the right system that will be beneficials with your stay inside the trading market. Wild but profitable once you learned the right attitude when investing to this business.

I'd like to the way you say "Don't Rush". People rush to Bitcoin investment because they are too optimistic about being profitable and instantly get their returns. But this is also a reason for their losses. Why? Because most of them never know exactly what they are doing. However, it is to believe that luck might be there and even they lose but still they stand cause of their trust in crypto and hoping to have luck in the next round.

There are people who are rushing in terms of investment. I have a friend where he recently became aware to bitcoin and he rushed to make his first investment. The result is obvious and it is loss, he didn't consider the risks and he rush to buy bitcoins. Before we invest something, we should first invest in learning because we can use this learning to multiply our money.

A good lesson for your friend to learn with and provably next time he will know on how to deal with things in terms of investing with bitcoins and other altcoins since we need to learn deal with risk management. I also encounter that loses when my first time here and actually after that lose I strive to learn those basic fundamentals and other things that can be helpful and now actually I manage to stretch up my portfolio and earning good with good and bad times in the market.

Learning in good and bad times isn't easy to handle, that's why we needed to strive harder to come up the best formula which can be useful in dealing with many problems that makes it harder to achieve. Even though you're good at your portfolio, its still not guaranteed you'll be able to come up at good results.
Always find more time with trading, don't just rely on one strategy, also seek opinion from other experts because it may provide you additional knowledge and skills.

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Quote from: Savemore on December 18, 2019, 10:08:37 PM

Quote from: Distinctin on December 18, 2019, 05:30:24 AM

Quote from: matchi2011 on December 17, 2019, 08:07:13 AM

Quote from: johnwest on December 16, 2019, 12:05:22 PM

Reading is the first step for successful trading, you need to know allot of things in order to make profit regularly in trading. Also people use different strategies as some are aggressive and try every experiment and some do long term holding. Also be careful of sudden pumps or dumps of Bitcoin as alts will go down whenever there is a fluctuation.

It's about the type of risk that each traders wanted to take and how they can manage to take care of each responsibilities. Traders with high hope keeps being optimistic and will continue finding the right ways. Don't rush everything as time will allow you to learned the right system that will be beneficials with your stay inside the trading market. Wild but profitable once you learned the right attitude when investing to this business.

I'd like to the way you say "Don't Rush". People rush to Bitcoin investment because they are too optimistic about being profitable and instantly get their returns. But this is also a reason for their losses. Why? Because most of them never know exactly what they are doing. However, it is to believe that luck might be there and even they lose but still they stand cause of their trust in crypto and hoping to have luck in the next round.

There are people who are rushing in terms of investment. I have a friend where he recently became aware to bitcoin and he rushed to make his first investment. The result is obvious and it is loss, he didn't consider the risks and he rush to buy bitcoins. Before we invest something, we should first invest in learning because we can use this learning to multiply our money.

A good lesson for your friend to learn with and provably next time he will know on how to deal with things in terms of investing with bitcoins and other altcoins since we need to learn deal with risk management. I also encounter that loses when my first time here and actually after that lose I strive to learn those basic fundamentals and other things that can be helpful and now actually I manage to stretch up my portfolio and earning good with good and bad times in the market.

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