Fear is controllable but only if you have a strong heart and you have the self-confidence of what you are doing.
Fear is a kind of emotion that could lead to nowhere when you are in control of this feeling. If you are a trader, it is very important to avoid this one cause this will be a reason for your failure just like it happens to most traders.
Topic: A good advice for every traders. - page 16. (Read 3688 times)
The fear will always be there.
Fear of losing or fear of regret doing withdrawals then thinking about the aftermath which could be another pump.
A problem which most traders have while in that moment.
You cannot take that away, it adds flavor to excitement.
Besides, it could be stepping stone of being a great trader after all those experiences. Experience which was created from your own logic.
Fear of losing or fear of regret doing withdrawals then thinking about the aftermath which could be another pump.
A problem which most traders have while in that moment.
You cannot take that away, it adds flavor to excitement.
Besides, it could be stepping stone of being a great trader after all those experiences. Experience which was created from your own logic.
Many traders today afraid of trading their money because they take it negatively that the money their investments will not give them a profit. There is a lot of sources that can be used in trading like on the internet there's a lot of tips and tricks you can learn. Still, I think one of the conventional methods is knowing first the coin that is fit to your needs because different currencies has a different time to rise and becomes profitable, next is you must know how to read the graphs and a lot of observations sometimes the graphs gives you an idea when is the right time to invest, last is the best way to learn ask the traders who already experience a lot that gives you an opinion what you will do. At the end of the day still, it is your decision how do you manage your trading and at the right time you will know what your technique in trading is.
When trader has been getting a profit (maybe it is just me) they will keep it for a while and need several time to take the profit, this is often happened in my trade honestly. I don't know maybe I have a high greedy so as I need a profit more than that. And something worse, I know it is bad thing but I always do that and there just one risk that I got, I never get a profit as I wanted.
I just focus to the third point because it is comes to me often. I get used to miss some dollar because of that and sometimes I just make a fool of myself so being aware of what I'm doing won't bring me comfortable. Also I should make a target profit first and I should force to sell it when my prediction is going true.
I just focus to the third point because it is comes to me often. I get used to miss some dollar because of that and sometimes I just make a fool of myself so being aware of what I'm doing won't bring me comfortable. Also I should make a target profit first and I should force to sell it when my prediction is going true.
The fear will always be there.
Fear of losing or fear of regret doing withdrawals then thinking about the aftermath which could be another pump.
A problem which most traders have while in that moment.
You cannot take that away, it adds flavor to excitement.
Besides, it could be stepping stone of being a great trader after all those experiences. Experience which was created from your own logic.
Fear of losing or fear of regret doing withdrawals then thinking about the aftermath which could be another pump.
A problem which most traders have while in that moment.
You cannot take that away, it adds flavor to excitement.
Besides, it could be stepping stone of being a great trader after all those experiences. Experience which was created from your own logic.
I'm expecting to read a bit of repetitive advice here such as risk an amount you afford to lose, patience, don't put all eggs in one basket , etc. but those mentioned by the OP are by far do have sense compare to other threads created before which just stated obvious and common advice.
Yes, looking at our past performance where did we go wrong can create an effective strategy in the long-run. By looking at those, we can think of a strategy to somehow avoid it next time. Not totally will avoid it but we can deal with it without any major problem.
Every mistake and error should be noted and once we are now used on dealing with those, we can now think of an effective strategy for each of those problems we encounter along the way.
The crypto market is so volatile and there will be a time that what we think as an effective strategy still will not work. That's why it's good to have a set of strategy at any given mistakes we did.
which mentioned other way around which traders should really think off this way. Dont do the same mistake again and be aware on your mistakes and learn from it. Dont repeat mistakes as much as you can
and if you do aware on each step you do make next time then most likely you would sustain this very unpredictable market.
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.
Yes I do record every reason of opening a trade along with the reason of my stop loss point & my take profit point. It helps me to find out where I was wrong in construction of my strategy if it fails and also tells me if this strategy is working if I win. I personally think that there is no point in making trades without recording them because lost trades are learnt lessons. Also if you decide to manually exit from the trade the reason for opening the trade will help you find out if there is something wrong with presumption of your strategy due to which you are closing the trade or what. 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.
Stop-loss is almost always taken into account into trading. Without it, you're basically going all in with every trade you do. As for assuming something is wrong with your trading logic, at times, it might be wrong and at times it might be correct. Fixing it doesn't necessarily mean your logic was wrong, but rather the market moved in an unexpected way that your logic didn't take into account for. That's the time where you add that certain plausible situation to your logic, taking into account every possible situation you could think of.
But that's almost impossible since there's close to n-number of results BTC might take, so instead, limit your possible losses. It's actually more efficient to limit your possible losses instead of improving or upgrading the logic towards earning more since improving equates to risk, but limiting equates to stability.
.
But that's almost impossible since there's close to n-number of results BTC might take, so instead, limit your possible losses. It's actually more efficient to limit your possible losses instead of improving or upgrading the logic towards earning more since improving equates to risk, but limiting equates to stability.
.
I agree especially with the stop-loss. This can lock in you gains or even just prevent a big loss in a situation where the price drops quickly. It’s an important trading tool.
I'm expecting to read a bit of repetitive advice here such as risk an amount you afford to lose, patience, don't put all eggs in one basket , etc. but those mentioned by the OP are by far do have sense compare to other threads created before which just stated obvious and common advice.
Yes, looking at our past performance where did we go wrong can create an effective strategy in the long-run. By looking at those, we can think of a strategy to somehow avoid it next time. Not totally will avoid it but we can deal with it without any major problem.
Every mistake and error should be noted and once we are now used on dealing with those, we can now think of an effective strategy for each of those problems we encounter along the way.
The crypto market is so volatile and there will be a time that what we think as an effective strategy still will not work. That's why it's good to have a set of strategy at any given mistakes we did.
which mentioned other way around which traders should really think off this way. Dont do the same mistake again and be aware on your mistakes and learn from it. Dont repeat mistakes as much as you can
and if you do aware on each step you do make next time then most likely you would sustain this very unpredictable market.
Good advice for every trader is to learn and know the trade before trading. You can't trade if it's not. Every business has a loss. If ever there is a loss then do not despair the traders and correct the problem where it went wrong. Every trader has to trade from the ground up. And when trading, you need to be aware of where you want to trade.
Can totally agree with all points. It's really essential to stick to your plan and believe in it no matter what. DYOR - always!!!!
It looked like doing research. yeah but it doesn't hurt because everything starts with analysis to produce the best formula. But I myself did not do such a thing because I was quite lazy to write it down, maybe I just understood it even though I sometimes forgot it.
If someone records every trade, then I'm sure he will get the best formula later.
If someone records every trade, then I'm sure he will get the best formula later.
The advice from the Rockerfellers is also good: "Nobody ever got poor from taking profits".
The trouble some traders have is they get too greedy.
How many people held on when bitcoin was at $20,000, thinking it would go to $30,000? They'd have been better off selling, then waiting for the inevitable crach (inevitable because the move upwards had been too fast to be sustainable) and then buying back a lot more bitcoin when the price dropped.
The trouble some traders have is they get too greedy.
How many people held on when bitcoin was at $20,000, thinking it would go to $30,000? They'd have been better off selling, then waiting for the inevitable crach (inevitable because the move upwards had been too fast to be sustainable) and then buying back a lot more bitcoin when the price dropped.
Yes this what the fundamentals of trading are, but when you get into real actual trading it gets overwhelming and hard to follow what you've learned and sometimes buy at the wrong amount then resell and loss, then try to cope up and study then return to trading but commits the same mistakes once more. So i've stopped trying to become a trader and just invest my money and buy in the dips.
I'm bad with this, i keep saying im gonna keep a trade journal but i don't lol
Lol, executive is important
I have additional to add on the list of advice of yours;
Using a trade journal.
This journal keeps track of your trade, any journal will do. Like you can use some excel file or pencil with paper.
You will record all your trades, lost or profits. This will help you to measure your trading profits or will help you to improve in the future.
Because here, you will know how profitable you are as a trader or when did you miss something or when you are doing good.
Using a trade journal.
This journal keeps track of your trade, any journal will do. Like you can use some excel file or pencil with paper.
You will record all your trades, lost or profits. This will help you to measure your trading profits or will help you to improve in the future.
Because here, you will know how profitable you are as a trader or when did you miss something or when you are doing good.
Nice , i will add it now.Thank you sir
I have additional to add on the list of advice of yours;
Using a trade journal.
This journal keeps track of your trade, any journal will do. Like you can use some excel file or pencil with paper.
You will record all your trades, lost or profits. This will help you to measure your trading profits or will help you to improve in the future.
Because here, you will know how profitable you are as a trader or when did you miss something or when you are doing good.
Using a trade journal.
This journal keeps track of your trade, any journal will do. Like you can use some excel file or pencil with paper.
You will record all your trades, lost or profits. This will help you to measure your trading profits or will help you to improve in the future.
Because here, you will know how profitable you are as a trader or when did you miss something or when you are doing good.
Stop loss is important, it may be hard to detect whether we already need to stop our loss but we should consider putting ceiling and limit in every investment we have to stop a lot of loss. I already learn my experience to stop loss as I regretted not doing it in some of my bounty holdings before.
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. do the things 1-5 above again
Does any trader record the reason of opening trade? And how do you guys practice it? Let's talk about it.
Yes, I do it every day. I am also a newcomer here and I want to trade better after a few months so I decided to follow the instructions of the previous ones. They tell you to keep a record of your transactions every day for a full reason. when you lose, you still have to do it so after 3 months, you will have something to read and understand where you went wrong. Besides, taking notes shows that you are a well disciplined person and it will create a habit, it will make you love your work more and it will soon make you more professional.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. do the things 1-5 above again
Does any trader record the reason of opening trade? And how do you guys practice it? Let's talk about it.
You are right . If you opened a trade that means you are very sure that why you are doing this. So set the 'take profit or stop loss' and go to bed .
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. do the things 1-5 above again
Does any trader record the reason of opening trade? And how do you guys practice it? Let's talk about it.
Yes, I do it every day. I am also a newcomer here and I want to trade better after a few months so I decided to follow the instructions of the previous ones. They tell you to keep a record of your transactions every day for a full reason. when you lose, you still have to do it so after 3 months, you will have something to read and understand where you went wrong. Besides, taking notes shows that you are a well disciplined person and it will create a habit, it will make you love your work more and it will soon make you more professional.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. do the things 1-5 above again
Does any trader record the reason of opening trade? And how do you guys practice it? Let's talk about it.
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