A good advice for every traders. - page 4.

Leo

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Quote from: Carry_Copper on July 17, 2020, 09:27:58 AM

Hey

I'm here to ask you for some advice. Recently I've been holding BTC and now I've sold it. Wanna know which alts are more profitable in your opinion at this moment?

Are you a newbie in trading? If yes, but high market cap coin such as $link $bnb $eth, but if you got trading skills you can look out for some small or midcap coin in binance exchange such as $knc $algo and some couple others, always ensure to DYOR

Insanerman

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

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?

1. make sure you are believe in your trading logic

I guess it is not always the best choice to always believe in your trading logic.
Sometimes you need to be open about new knowledge that you might have during and after any trades. If you found out some flaws about your logic, then better to accept some new ones.
Do not be stucked of what you are believing from the very beginning, unless you continuously prooving to yourself that the logic is positive and working.
But confidence is a must on trading. Believe your logic if you are confident.
Base your logic from statistical analytics tho.

Carry_Copper

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Hey

I'm here to ask you for some advice. Recently I've been holding BTC and now I've sold it. Wanna know which alts are more profitable in your opinion at this moment?

Bezobraznike

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Quote from: AakZaki on July 14, 2020, 12:23:52 PM

Quote from: matchi2011 on July 12, 2020, 02:36:04 AM

Better to practice and never to stop learning how to adjust in every situations that you encounter.

Continue to learn and correct mistakes that have been made so that they are not repeated again is something that must be done. Adjusting to any situation will be very helpful. the only way to practice psychology is to do hands-on practice. Feelings and thoughts must also be calm and there is no burden whatsoever.
Indeed, it is very difficult to achieve that calm, sometimes greed also makes everything destroyed.
I realize that controlling trade psychology is very difficult, but can be controlled by continuing to practice.

Isn't this something that we can apply on everything we do!? With more practice and more learning we can be better
with time. But before we get better we can lose some money, and we can think of it as paying a school.
AakZaki it's difficult to achieve calm, when we deal with money it's even harder. We always think about loses and profit,
and that confuse us and we make mistakes. It's why I chose long-term investing over trading, it's more peaceful, and can be
profitable as well.

AakZaki

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Quote from: matchi2011 on July 12, 2020, 02:36:04 AM

Better to practice and never to stop learning how to adjust in every situations that you encounter.

Continue to learn and correct mistakes that have been made so that they are not repeated again is something that must be done. Adjusting to any situation will be very helpful. the only way to practice psychology is to do hands-on practice. Feelings and thoughts must also be calm and there is no burden whatsoever.
Indeed, it is very difficult to achieve that calm, sometimes greed also makes everything destroyed.
I realize that controlling trade psychology is very difficult, but can be controlled by continuing to practice.

matchi2011

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Quote from: AakZaki on July 10, 2020, 06:24:30 PM

It is indeed very difficult to carry out the plan of walking exactly as we think. But trying to stay on the track is a safe choice. The problem is that our mental or psychological readiness will still be affected.

Emotions needs to be settled at it's best, if you have good control and you really after with your success, controlling your emotion is achievable.

Quote from: AakZaki on July 10, 2020, 06:24:30 PM

Regardless of the novice trader or professional trader, mental readiness will be the most difficult to handle.

Indeed, you are the only one who can suppress this emotion and once you did it right, it will be more easy to you to keep moving forward.

Quote from: AakZaki on July 10, 2020, 06:24:30 PM

plans and strategies that are well designed will be damaged by a state of psychology that is not ready.

Better to practice and never to stop learning how to adjust in every situations that you encounter.

AakZaki

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Quote from: Synaesthesia on July 09, 2020, 09:37:17 PM

It is very difficult for things to go exactly as you think because I have been in this market for a long time and until now, I still have a lot of big risks in investing. I think that just having a clear plan at the beginning of trading is enough and needing a backup plan when the market suddenly has a big adjustment. Every investor's decision will affect your current assets so try to try.

It is indeed very difficult to carry out the plan of walking exactly as we think. But trying to stay on the track is a safe choice. The problem is that our mental or psychological readiness will still be affected. Regardless of the novice trader or professional trader, mental readiness will be the most difficult to handle.
plans and strategies that are well designed will be damaged by a state of psychology that is not ready.

suzanne5223

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Quote from: ?? on ??

The best advice to try to business is to find out and gain knowledge about business we've to figure consistent with the plan there's no risk in doing business.

Really? The last time i checked everything businesses/investment have it own risk involving and some plan also failed, my plan this year was to increase my computer skills so i can make an impact in crypto scheme but i can't do it now due to the pandemic.

Quote from: ?? on ??

Do something new a day make some changes in your lifestyle and keep your brain active rather than falling behind in fear.

Fear is the greatest enemy of success in very investment but it doing something new a day without successful execute one and finalize the result before moving to another is not advisable.

Synaesthesia

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Quote from: AakZaki on July 08, 2020, 07:26:27 PM

A well-planned plan and concept will make it easy to trade. Having a good trading strategy will give you direction where you need to go and make decisions. also the most important thing is to regulate the capital used and regulate the piscology so as not to hesitate in making a decision. Then later it will be followed by technical analysis, fundamental and sentimental analysis.

It is very difficult for things to go exactly as you think because I have been in this market for a long time and until now, I still have a lot of big risks in investing. I think that just having a clear plan at the beginning of trading is enough and needing a backup plan when the market suddenly has a big adjustment. Every investor's decision will affect your current assets so try to try.

AakZaki

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A well-planned plan and concept will make it easy to trade. Having a good trading strategy will give you direction where you need to go and make decisions. also the most important thing is to regulate the capital used and regulate the piscology so as not to hesitate in making a decision. Then later it will be followed by technical analysis, fundamental and sentimental analysis.

adsdas

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Quote from: Renampun on July 02, 2020, 12:57:57 PM

Quote from: ?? on ??

I think the advice for every trader is to create a portfolio and risk management, such as arranging stop lose, stop losing is very important, if for the spot market I think it does not matter, but for futures trading you must be prepared

risk management is very important...
traders who do not have risk management will only make themselves lose their assets, becoming a trader is not an easy job, it needs a plan and a mature concept in order to make a profit.

Managing risk is not always easy because if the market is not stable, you will certainly be very difficult to manage and will tend to panic when this happens. I think that before deciding to invest, there should be two plans to prevent the unexpected happenings that you can not anticipate. I'm not good at risk management but know when to stop and when to continue.

Katerin05

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I agree with all the points above. But you need to try several strategies. And then choose the best one.

Renampun

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Quote from: ?? on ??

I think the advice for every trader is to create a portfolio and risk management, such as arranging stop lose, stop losing is very important, if for the spot market I think it does not matter, but for futures trading you must be prepared

risk management is very important...
traders who do not have risk management will only make themselves lose their assets, becoming a trader is not an easy job, it needs a plan and a mature concept in order to make a profit.

tvplus006

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Quote from: The cure on June 24, 2020, 06:20:40 PM

First start small amount only.Protect your trading capital, limit your risk per trade to a maximum of a 1-2% of your whole account to reduce the effect of losing as you will preserve the majority of your trading account. Study the market flow and always use a stop loss to control your order.

It all depends on the size of the initial deposit. And if we are talking about just a few hundred dollars, the amount of 1-2% may be less than the minimum that is set on the exchange for placing an order. Therefore, the owners of a small deposit place orders for the entire amount or use margin trading, thereby increasing the chance of losing the deposit.

Blue_oxen

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Quote from: kolbalish on June 26, 2020, 01:12:42 PM

You need to set your goals and the right attitude to achieved and complete your journey, discipline played a big role since it's the tools to make sure that you are sticking to your plans. If you properly set everything up the outcome will take you positively as no matter what will happen you are capable handling each situations that might strengthen you to continue completing your success.

True! Besides, you should learn how to do risk management. When you set your goal, always think about the worst scenario. In that way, you can set your cut-loss target! Of course, you'll do everything and try to achieve your goal. However, in bad circumstances, you need to be wise and absolutely careful to remove the risk and accept the losses!

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Quote from: lienfaye on June 27, 2020, 07:07:47 AM

Quote from: kolbalish on June 26, 2020, 01:12:42 PM

Already pointed something important. I can only say to set your goal first with your assets. Patience must be needed in this respect.

True, think what your goal is.
Have plan and strategy then stick to it.

The tips of op are helpful to traders whose having a hard time building their own trading logic or plan. Anyhow discipline and patience are needed to do this.

You need to set your goals and the right attitude to achieved and complete your journey, discipline played a big role since it's the tools to make sure that you are sticking to your plans. If you properly set everything up the outcome will take you positively as no matter what will happen you are capable handling each situations that might strengthen you to continue completing your success.

Nhor1011

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Each of us has our own goal and strategy in trading just to earn money from it. Sometimes it's good to follow some advice but we are still responsible on how to use it to meet our goals and to avoid loses. Also our own experienced would be a great learning tool that we can use to improve our strategy and to develop our trading skills without the help of others because in trading we can't rely to others just to earn or to avoid loses. It's all in our hands.

bitbunnny

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Quote from: ?? on ??

Quote from: lienfaye on June 27, 2020, 07:07:47 AM

Quote from: kolbalish on June 26, 2020, 01:12:42 PM

Already pointed something important. I can only say to set your goal first with your assets. Patience must be needed in this respect.

True, think what your goal is.
Have plan and strategy then stick to it.

The tips of op are helpful to traders whose having a hard time building their own trading logic or plan. Anyhow discipline and patience are needed to do this.

You are right, planning is very important in trading, many people consider it as a short term investment, but we should always aim for the long term investment. Of course, crypto is unpredictable how far the companies will deliver the things what they mentioned in the roadmap.

Planing and strategy are very important in trading, I agree. However, many traders forget about that and trade along the way making decisions ad hoc. That can the risk in trading make even bigger and lead to unnecessary losses. Although plans might change according to situation in the market it's better that you always know which path to follow to achieve your trading goals.

lienfaye

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Quote from: kolbalish on June 26, 2020, 01:12:42 PM

Already pointed something important. I can only say to set your goal first with your assets. Patience must be needed in this respect.

True, think what your goal is.
Have plan and strategy then stick to it.

The tips of op are helpful to traders whose having a hard time building their own trading logic or plan. Anyhow discipline and patience are needed to do this.

kolbalish

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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.

Already pointed something important. I can only say to set your goal first with your assets. Patience must be needed in this respect.

Topic: A good advice for every traders. - page 4. (Read 3669 times)