A good advice for every traders. - page 17.

yarlungzangbo

copper member

Activity: 126

Merit: 12

Quote from: drlukacs on December 10, 2019, 03:48:12 AM

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. 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.

Yeah, do it every day and you will win the battle between you and yourself

drlukacs

sr. member

Activity: 854

Merit: 253

l0tt0.com

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. 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.

iram3130

legendary

Activity: 1512

Merit: 1010

ITSMYNE 🚀 Talk NFTs, Trade NFTs 🚀

"Invest only what you are afford to loose."
This was the first advice I had got from my teacher and will tell the same thing to everyone whose trying to start trading in any manner.

Go with your instincts. Logic is not perfect.

AniviaBtc

sr. member

Activity: 1120

Merit: 272

First 100% Liquid Stablecoin Backed by Gold

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.

This topic is already repeated many times, but here's the thing. It really help those beginners in starting their investment in trading and let them work hard for themselves. But this thread can help also those professional traders when they're down or not performing very well in the market.

Every mistake you've made in trading and every knowledge you want to learn is located here in this thread.

The market's capability of increasing the demand of bitcoin is very low. Like in 2017 the bitcoin price notches at $10k and that is the highest as far as I know. Learn some strategy and improve your decision making skills in trading.

harizen

legendary

Activity: 3122

Merit: 1398

For support ➡️ help.bc.game

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.

hugeblack

legendary

Activity: 2702

Merit: 4002

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.

maxreish

sr. member

Activity: 1330

Merit: 326

Trust your own TA. Trading isn't easy as everyone thought. Our mistakes in trading serves our lesson, it will become our mirror that will definitely makes us a successful trader. We have different strategies, I don't do records but I still trade positively. Also, I always set stop loss and that is strongly advisable to each trader to prevent huge losses.

If you are afraid of losing, trading is not for you. We trade because we want to take the risk that will anticipate a good outcome.

yarlungzangbo

copper member

Activity: 126

Merit: 12

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.

Topic: A good advice for every traders. - page 17. (Read 3688 times)