A good advice for every traders. - page 5.

GreatArkansas

legendary

Activity: 2338

Merit: 1354

Quote from: ?? on ??

You must always try to act with a very cold head and a clear calculation plan.

This is simple but for sure it's very difficult to apply especially if you are new in trading cryptocurrencies.
It's just like you are planning everything well but when you try to execute the plan something's wrong.
Well, it's normal for every trader sometimes. That's why if we need to become a trader we should really have a calculation plan with controlled emotion and cold headed/not greedy.

Latviand

full member

Activity: 1540

Merit: 219

Quote from: ?? on ??

A good tip for any trader is to connect a trading bot and enjoy the profit.

How many times we will say that BOTS are not the effective in any circumstances? Yes, bots are useful depending on the market situation and your strategy, but it is not guaranteed that this bots will give you huge profits than a manual trading. That's clearly not a good tip, especially from beginners who wants to grow in trading.

Traders should not rely on a trading bot no matter what happens. Trading bots are just an alternative way on earning profits and that's not a 100% win if you use trading bot everytime. Risks are still there and you need to minimize it and it is easy to do that if you always perform manual trading in the market.

Manual trading will help you improve your technical analysis as you always monitor the market situation and that's the good thing here. You can improve yourself in making effective strategies that will help you win most of your trading transactions.

Reatim

sr. member

Activity: 2828

Merit: 357

Eloncoin.org - Mars, here we come!

Quote from: ?? on ??

You must always try to act with a very cold head and a clear calculation plan.

I like this,Clearer mind will always save us from wrong decision making like what most traders do to fail.

I remember some Hot headed friends that always cry after failing.

Without realizing that the main reason why they loss is because of their un predictable mind.

and also Calculation is one good thing for taking a trading,some has this but making greed calculating their incoming profit so in the end?

it is losing is what comes them.

Awraawra

full member

Activity: 338

Merit: 102

Quote from: yarlungzangbo on December 10, 2019, 01:47:52 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.

It's a very good advice especially to those new in trading there's a lot of new trader are complaining to their lost because of lack of knowledge about trading. Hope this is a big help to them. Hope that they can read this advice and tips to earn in trading.

The cure

jr. member

Activity: 448

Merit: 4

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.

Vitalicus

full member

Activity: 467

Merit: 100

DIA | Data infrastructure for DeFi

Quote from: Naida_BR on May 24, 2020, 05:11:46 AM

Quote from: Jateng on May 24, 2020, 12:54:57 AM

Sometimes you should listen to the analysis of others and from that you can either make you own analysis or add some analysis so its safe where you gonna enter or exit. Recording of your trade decision makes someone confident about trading, some people forget why they enter or exit. Emotion is very important and patience in every trading decision.

I usually try not to hear others analysis.
I did once and I was forced to buy a coin that was not profitable and I wouldn't buy it if I didn't listen to this stupid analysis. There are a lot of people who give false info in order to pump coins for their own benefits.

Yub. You shouldn't hear or follow any other analysis. You can take their advices but don't bet your money in it. The best way to deal with the market is to equip yourself with informations, statistics, skills. You really have to study seriously about this market before joining it to avoid losses.

Mactrading1028

newbie

Activity: 11

Merit: 0

Having a trading tool that benefit traders, check out HyperLinq, their app Hypertrader is in beta so free to use and they have a strong presence in discord as well.

App Info: https://hypertrader.app
Discord: https://discord.gg/JsgvfUQ

Piston

member

Activity: 102

Merit: 10

In the year of hard work and self-reflection on your trading strategies pushing the success rate up to between high price in my experience. Discussions with other firm managers reveal stats the market. The true statistic is probably somewhere in the middle. Good traders make decisions with relative ease because they understand their rules and what they are trading and looking for in the market. Their commitment to their trading plan and process is unshakable. They do not let other people's opinions affect their judgment.

yarlungzangbo

copper member

Activity: 126

Merit: 12

Quote from: Naida_BR on May 24, 2020, 05:11:46 AM

Quote from: Jateng on May 24, 2020, 12:54:57 AM

Sometimes you should listen to the analysis of others and from that you can either make you own analysis or add some analysis so its safe where you gonna enter or exit. Recording of your trade decision makes someone confident about trading, some people forget why they enter or exit. Emotion is very important and patience in every trading decision.

I usually try not to hear others analysis.
I did once and I was forced to buy a coin that was not profitable and I wouldn't buy it if I didn't listen to this stupid analysis. There are a lot of people who give false info in order to pump coins for their own benefits.

Yeah, don't buy it just because someone said buy

Naida_BR

member

Activity: 980

Merit: 62

Quote from: Jateng on May 24, 2020, 12:54:57 AM

Sometimes you should listen to the analysis of others and from that you can either make you own analysis or add some analysis so its safe where you gonna enter or exit. Recording of your trade decision makes someone confident about trading, some people forget why they enter or exit. Emotion is very important and patience in every trading decision.

I usually try not to hear others analysis.
I did once and I was forced to buy a coin that was not profitable and I wouldn't buy it if I didn't listen to this stupid analysis. There are a lot of people who give false info in order to pump coins for their own benefits.

Dr.Osh

legendary

Activity: 2758

Merit: 1004

PredX - AI-Powered Prediction Market

Quote from: Jateng on May 24, 2020, 12:54:57 AM

Sometimes you should listen to the analysis of others and from that you can either make you own analysis or add some analysis so its safe where you gonna enter or exit. Recording of your trade decision makes someone confident about trading, some people forget why they enter or exit. Emotion is very important and patience in every trading decision.

in addition to conducting analysis, the spread is also another important factor. so far, many people have done an analysis of price movements. however, not many are patients, and some people write on their social media walls that they regret not being patient.
be patient, and having information is very important in trading.

Lorence.xD

sr. member

Activity: 1624

Merit: 315

Leading Crypto Sports Betting & Casino Platform

Quote from: Jateng on May 24, 2020, 12:54:57 AM

Sometimes you should listen to the analysis of others and from that you can either make you own analysis or add some analysis so its safe where you gonna enter or exit. Recording of your trade decision makes someone confident about trading, some people forget why they enter or exit. Emotion is very important and patience in every trading decision.

Most of the technical advices have been and I am glad that the quote above mentioned that emotion plays a role when trading, it might not look that much but I think mentality is something that we should fortify because there will hardships in trading that will break you down physically and mentally which is worse than the latter. My advice is more on practical so it might help some, and some might disagree and I am open to ideas just like others.

Safety net- create a cushion for yourself when you are trading, remember to have emergency funds for the times when you experience losses, this safety is not for trading but for your daily sustenance when you are experiencing loss, it is advised that a 3-6 months worth of emergency is needed for insurance but if you do not want to you can set how many months of emergency funds you need.
Side Hustle- do not put all of your time in trading, do other things that you can earn, if you have other skills that can be utilized as a free-lancer, or better yet is have a job or if you have a job when you are trading then do not quit yet because you are still starting to trade so this pretty much goes back to the first advice.
Avoid debts(if you can)- debts is the greatest enemy of people who wants to become financially secure, but I disagree with that because if you know where to borrow money then you can use that as an advantage, one example is credit cards, you can get one and spend a portion of it and make sure that you can pay that spent portion when the credit is due, and that routine on time payment will earn you a credit score, which helps you in the long term, when you want to apply for loans and you have a positive credit score then the process will be at ease, it has no connection to the trading advice that I have given above but I might as well share this because we can use this to benefit from it.

Jateng

full member

Activity: 1337

Merit: 154

PredX - AI-Powered Prediction Market

Sometimes you should listen to the analysis of others and from that you can either make you own analysis or add some analysis so its safe where you gonna enter or exit. Recording of your trade decision makes someone confident about trading, some people forget why they enter or exit. Emotion is very important and patience in every trading decision.

EmpowNetwork

newbie

Activity: 33

Merit: 0

"3. take profit and stop loss strictly"
I think that's just a theory. Easy to say but how many people can do it?

pragna

full member

Activity: 1582

Merit: 101

I think no need to written record, as a trader when we did mistakes that's our main record into mind. Next time when we did trading our memory give signal every time. Yes those are new to trading they can follow your rules and i think it will give benefit for them. Finally a man who trade more and more will be experienced person and mistakes will be lower.

yarlungzangbo

copper member

Activity: 126

Merit: 12

Quote from: azmirihaque on May 23, 2020, 02:12:24 PM

Quote from: yarlungzangbo on December 10, 2019, 01:47:52 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.

Every trader has its own trading policy. As a real trader, he should be analytical on his own trade. Your advice is the part of this analytical process. Many traders engage in trader in a belief that their investment will give them lot of profit but after some days they loss their capital. Because they enter only the market without knowing the rules, policies and trends of the market. So, strategy is very much important for trade and every trader should have the ability to outline his own trading strategy.

Ya, so that why so many people want to become a quantitative trader Cheesy

azmirihaque

member

Activity: 224

Merit: 16

Quote from: yarlungzangbo on December 10, 2019, 01:47:52 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.

Every trader has its own trading policy. As a real trader, he should be analytical on his own trade. Your advice is the part of this analytical process. Many traders engage in trader in a belief that their investment will give them lot of profit but after some days they loss their capital. Because they enter only the market without knowing the rules, policies and trends of the market. So, strategy is very much important for trade and every trader should have the ability to outline his own trading strategy.

farukahmed

jr. member

Activity: 1106

Merit: 1

Trader is a person who buys and sells financial instruments in a financial market. Traders may trade for themselves, on behalf of the institution they work for or on behalf of a client, acting as an intermediary between the client and a market maker. The most important thing single biggest reason why most traders fail to make money when trading the stock the market lack of knowledge.

Piston

member

Activity: 102

Merit: 10

Good traders make decisions with relative ease because they understand their rules and what they are trading and looking for in the market. Their commitment to their trading plan and process is unshakable. They do not let other people's opinions affect their judgment. They've learned to trust their own. many traders will lose money and it can't be avoided. All sorts of reasons are given for the losses, including poor money management, bad timing, or a poor strategy.

MCobian

full member

Activity: 1190

Merit: 117

Of course, every trader must be afraid to experience a loss, even though the loss must be brave we face. Therefore learn more
regarding trading strategies, in order to improve our ability to trade and that can help us not to experience losses. Then the advice
that was mentioned in the opening post is good to understand so that every trader can avoid losses, and can produce maximum profit too.

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