Anyone can succeed as a bitcoin trader - page 2.

milewilda

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Quote from: Mate2237 on January 03, 2024, 04:11:24 PM

Quote from: Nrcewker on December 31, 2023, 12:01:47 PM

Success is not important. It’s important to control the trading amount so that you don’t make any losses. You don’t make millions overnight by trading. Gradually with experience you will become a better trader and will make good amount of money. You just need to control the emotions whole trading. Do the market analysis with depth, and focus on more theoretical knowledge rather than rushing to trade.

And for one to become a successful trader, he has to lose and through there he would make some corrections and master the market gradually and later becomes a professional trader. And even at the professional level you will still lose but it will not be as the novice time. And anyone who is coming to make money instant in trading will lose very well but whereby he comes to learn first and make small profits and grow gradually from then he will make it in the future.

One thing they have to know that, they should not be greedy in the process of trading. If small profit enter, take it and open new trade if it is a favorable time to trade again.

Its inevitable!

Once you do set your foot into this field then its impossible that you wont really be able to experience those things on which losses and errors or mistakes will really be mainly be that experienced.
There's no way on avoiding that and this is why its really that important that you should really be needing to adjust accordingly basing up on what you have learnt in the past.
Success isnt something that you could really be able to acquire in a short period of time and this is why it would really be always best that you should act accordingly and sensibly.
Success isnt something that you could be able to attain without passing up through those lots of challenges along the way.

This is why its not bad on being optimistic but at least you should really be that making yourself that at least be realistic on the things that you are dealing with.
Dont make yourself comes into a point on being that delusional because it would really just that make you disappoint on the time that you see on whats the reality.

Mate2237

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Quote from: Nrcewker on December 31, 2023, 12:01:47 PM

Success is not important. It’s important to control the trading amount so that you don’t make any losses. You don’t make millions overnight by trading. Gradually with experience you will become a better trader and will make good amount of money. You just need to control the emotions whole trading. Do the market analysis with depth, and focus on more theoretical knowledge rather than rushing to trade.

And for one to become a successful trader, he has to lose and through there he would make some corrections and master the market gradually and later becomes a professional trader. And even at the professional level you will still lose but it will not be as the novice time. And anyone who is coming to make money instant in trading will lose very well but whereby he comes to learn first and make small profits and grow gradually from then he will make it in the future.

One thing they have to know that, they should not be greedy in the process of trading. If small profit enter, take it and open new trade if it is a favorable time to trade again.

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Quote from: BRINIRHA on January 02, 2024, 07:47:13 AM

Beginners always have difficulty controlling their emotions because they don't know the market well. Because they don't have enough experience. But if they don't give up and keep learning as they go. Then one day the beginner will become a pro trader and can teach other people. Because everyone definitely starts from beginners in everything.

Even the ones who are here for a longer time.

It's a feeling that's hard to control when you still don't know how to. But if you have gained experience, you already have the reminder to yourself that you must be careful with your actions.

Because if you don't do it properly, you know what the consequences will be and they're going to be large losses for you until you learn from those mistakes and losses.

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Quote from: BRINIRHA on January 02, 2024, 07:47:13 AM

Quote from: Nrcewker on December 31, 2023, 12:01:47 PM

Success is not important. It’s important to control the trading amount so that you don’t make any losses. You don’t make millions overnight by trading. Gradually with experience you will become a better trader and will make good amount of money. You just need to control the emotions whole trading. Do the market analysis with depth, and focus on more theoretical knowledge rather than rushing to trade.

Experience is very important. Because sometimes the lessons learned from experience are lessons that are much more valuable than just theory. Because experience is gained from applying a theory and findings while we are carrying out a job (trade). And usually experienced traders will be much calmer in carrying out trading activities. Different from beginners who sometimes trade in a hurry.

Beginners always have difficulty controlling their emotions because they don't know the market well. Because they don't have enough experience. But if they don't give up and keep learning as they go. Then one day the beginner will become a pro trader and can teach other people. Because everyone definitely starts from beginners in everything.

Even if I agree there are things that can only be learned by actually doing something and experimenting what it feels like, we need to reduce as much as possible how many of those things we learn this way when it comes to trading, and this is because in almost any other activity making a mistake is not a big deal, but making a mistake while you trade can cost you hundreds or even thousands of dollars, and by the time you learn everything you need need to know about trading you would have lost a fortune already.

el kaka22

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The deal with trading bitcoin is that you need to have iron clad emotional control if you want to be good, most people do not have that and they end up with a bad result because of it. I understand that we are going to live through some troubled times, but that doesn't mean that we should be considering that as a big option or a deal. I think the best thing we could do at this point is to realize that trading requires a lot of emotional ups and downs, and we need to be good at what we do to see that as a very valid option.

I hope that people could see this as a way to get better, and for that to work, we need to just assume that we are going to end up with a good approach of realizing things are not easy. I hope that we could focus on what we could do, and I will just make sure that I do not feel any fear, happiness, anxiety, panic, excitement, whatever feeling basically. Because if you feel any of them, they may trigger a loss for you if you lose control.

milewilda

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Quote from: BRINIRHA on January 02, 2024, 07:47:13 AM

Quote from: Nrcewker on December 31, 2023, 12:01:47 PM

Success is not important. It’s important to control the trading amount so that you don’t make any losses. You don’t make millions overnight by trading. Gradually with experience you will become a better trader and will make good amount of money. You just need to control the emotions whole trading. Do the market analysis with depth, and focus on more theoretical knowledge rather than rushing to trade.

Experience is very important. Because sometimes the lessons learned from experience are lessons that are much more valuable than just theory. Because experience is gained from applying a theory and findings while we are carrying out a job (trade). And usually experienced traders will be much calmer in carrying out trading activities. Different from beginners who sometimes trade in a hurry.

Beginners always have difficulty controlling their emotions because they don't know the market well. Because they don't have enough experience. But if they don't give up and keep learning as they go. Then one day the beginner will become a pro trader and can teach other people. Because everyone definitely starts from beginners in everything.

Not all things could be learned on textbooks on which indeed some of them could really be found through real experience on which it is really just that right that you would really be needing to experience for yourself to learn up everything. Although this wont really be assuring you that guaranteed success but at least you do already have those learnings on which you could really be able to make yourself that sustain at least on the things that you've been dealing with. Although its not something simple to achieve but at least on the time that you would really be having that good grasps into it then sustaining wont really be that much of an issue.

If you are planning to become a trader then of course you would really be doing all sorts of things just for you to be able to survive out into this market. You cant really just that make yourself
that able to easily acquire those things but something this thing couldnt really be that possible.There are really just people who are really that in a hurry on dealing up with things.

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Quote from: Nrcewker on December 31, 2023, 12:01:47 PM

Success is not important. It’s important to control the trading amount so that you don’t make any losses. You don’t make millions overnight by trading. Gradually with experience you will become a better trader and will make good amount of money. You just need to control the emotions whole trading. Do the market analysis with depth, and focus on more theoretical knowledge rather than rushing to trade.

Experience is very important. Because sometimes the lessons learned from experience are lessons that are much more valuable than just theory. Because experience is gained from applying a theory and findings while we are carrying out a job (trade). And usually experienced traders will be much calmer in carrying out trading activities. Different from beginners who sometimes trade in a hurry.

Beginners always have difficulty controlling their emotions because they don't know the market well. Because they don't have enough experience. But if they don't give up and keep learning as they go. Then one day the beginner will become a pro trader and can teach other people. Because everyone definitely starts from beginners in everything.

Mauser

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Quote from: Troytech on December 26, 2023, 08:48:36 AM

Knowing how to trade would only get you that far, but not j to the realm of successful traders. It takes a whole lot of desire to win, persistence and consistency to be a successful trader. So I assure that anyone who wants to be a successful trader can be by pursuing with passion.

When it comes to trading knowledge is important, it's like the foundation upon a successful trader is building his fortune. Without knowledge we are not going to succeed long term, because everybody can get lucky a few times and make the right trades, but outperforming the market over a longer period of time requires skill and knowledge. That is why there are so many books and course about trading, so that everybody can learn the basic before using larger amounts of money to trade. Passion and consistency are important to stay motivated and keep learning new strategies, we need focus on our long-term goals of building a large portfolio and reaching financial independence. Also, passion is what is going to help us to stick through the though times. There will always be a losing streak where it seems we can’t beat the market. During those times it’s important to believe in ourselves and having a strong interest and passion into trading is what will prevent us from quitting. Short term setbacks should not be a concern, as long as we focus on the big picture and manage to recover during the next bull run again.

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Quote from: Troytech on December 26, 2023, 08:48:36 AM

Many persons have shared their bad experiences about trading in general, how they lost their funds, got into debt,

If you have read the previous post of people in this forum you would have seen where its been advised that we should not lend money and go into trading and secondly if you are investing in bitcoin you should make use of your capital and establish the business of cryptocurrency and secondly, I notice that bitcoin investment is another thing that have to with plans even in trading it deals with plans and plans in trading should not make you to borrow money for investment or trading, it better you risky what belongs to you than the one you borrowed or lend.

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Quote from: Nrcewker

Success is not important. It’s important to control the trading amount so that you don’t make any losses. You don’t make millions overnight by trading. Gradually with experience you will become a better trader and will make good amount of money. You just need to control the emotions whole trading. Do the market analysis with depth, and focus on more theoretical knowledge rather than rushing to trade.

If you can be able to control your trading in the season of bearish and bullish season, I think you will be able to succeed from your trading because the most important thing in crypto trading is to use bullish season to trade. Don't be discourage with your starting in the crypto trading, because every crypto traders always experience some challenges that will make them to feel they cannot succeed in trading than see them growing higher in the future. Always listen to your personal research than others researchers because you can believe with what you see in the market than what they told you.

Learn Bitcoin

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Quote from: Troytech on December 26, 2023, 08:48:36 AM

Also Statistics shows that we have more Bitcoin traders than investors.

Can I have the link to the statistics you were referring to? This is true only if you consider all investors as traders. I agree that even holders are traders. Because they buy Bitcoin to make a profit. So, they are traders too in another sense. But, if you do not include them in the stats, then how do you say the traders have more Bitcoin than Investors? A few companies like Microstrategy hold more than 170K Bitcoin as of Now.

Binance as the company already holds more than 800K Bitcoin and their reserve data shows they are correct. Recently I have checked their wallet address too to see if their claim is true or not. You can find their reserve data and addresses on Coinmarketcap which you can verify. There are over 19 million Bitcoins already. We don't know how many of them are lost. We don't know how many dormant account will be alive in the bull run. So the stats could be wrong.

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Quote from: Awaklara on December 29, 2023, 10:32:21 PM

Quote from: EarnOnVictor on December 29, 2023, 09:21:08 PM

It is indeed the survival of the fittest matter when it comes to trading and the smartest traders always stay successful. Sadly, the percentage of such traders is few, so it is not wise to entirely believe that traders can continue to trade and deposit when they lose and will eventually make a success just like that. Many have tried it this way but still trying with no success, while some have already quit when they've wasted enough money.

because they trade unwisely. they haven't mastered trading yet, but are interested in making a deposit and starting trading because many people post successful trades. so the hope of beginners is still to trade easily to make a profit.
whoever trades without knowledge and experience, will only let their money disappear. beginners stay away from futures trading and do spot trading gradually to test their trading skills. if it feels difficult then buy Bitcoin and hold it in your wallet. be patient.

Unfortunately this is the blatant truth newbie traders don't want to hear, they can't be consistent in earning profit without any prior skill and knowledge required to be successful in trading it's years of learning, studying of charts and experience before becoming a profitable Bitcoin trader unfortunately many of them are into future trading without minding it high risk just to earn massive profit quickly unfortunately ended up liquidating their portfolio instead of investing their money in Bitcoin but they can't withstand perseverance and patience required by every Bitcoin hodlers to wait for a long term perspective before earning some profits that is why there are higher rate of losers in trading than profitable trades and the trend would continue.

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Quote from: Awaklara on December 29, 2023, 10:32:21 PM

Quote from: EarnOnVictor on December 29, 2023, 09:21:08 PM

It is indeed the survival of the fittest matter when it comes to trading and the smartest traders always stay successful. Sadly, the percentage of such traders is few, so it is not wise to entirely believe that traders can continue to trade and deposit when they lose and will eventually make a success just like that. Many have tried it this way but still trying with no success, while some have already quit when they've wasted enough money.

because they trade unwisely. they haven't mastered trading yet, but are interested in making a deposit and starting trading because many people post successful trades. so the hope of beginners is still to trade easily to make a profit.
whoever trades without knowledge and experience, will only let their money disappear. beginners stay away from futures trading and do spot trading gradually to test their trading skills. if it feels difficult then buy Bitcoin and hold it in your wallet. be patient.

If we start trading with no knowledge and only look at other people's success in trading and we continue to try, of course this will be very risky for losses that we will incur in the trades we make. Indeed, some beginners start their trading by only hoping for profits that will obtained in trading, of course this is very detrimental to him.
Choosing to do spot trading gradually while testing skills might be better before starting futures trading which will make them lose the money they have and it would be better for them to seek knowledge first before starting to trade.

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Quote from: Troytech on December 26, 2023, 08:48:36 AM

That's true trading bears such risk but that should not stop you from trying. In as much as there are successful traders you too can be successful in trading. It all starts with your passion, it has been made known by Napoleon Hill a popular writer, famous for the book think and grow rich, that desire is the starting point of all success.

Reading through this, especially after seeing the heading, I felt this was about another motivational speaking and the quote from Napoleon Hill confirms it. Maybe there is that idea that you can do just anything you put yourself to try but, can everyone really be a trader and a successful one? No I don’t think.
If we are to look at that quote from Hill again, it starts with desire and you spoke about passion, these two has to be in place before you could build on anything. When it’s not the case, you just might not get there as a successful trader.

Quote from: Troytech on December 26, 2023, 08:48:36 AM

Also Statistics shows that we have more Bitcoin traders than investors. And this is because most persons prefer to take the short term benefit of trading the volatility of bitcoin.

I don’t know where you got by that statistics but, it’s something I would have liked to see for real. I hope we don’t get yo consider the traders who just pop on exchanges with the idea to buy and hold or just exchange their coins for fiat in this statistics.

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Quote from: Troytech on December 26, 2023, 08:48:36 AM

Also Statistics shows that we have more Bitcoin traders than investors.

I don't think this is true. If this is true then the data is old. People nowadays are more focusing on investing into Bitcoin than trading. Maybe the numbers are greater in trading than investing, but the numbers quickly drop after a certain period of time. Most people who joins trading, they cannot achieve success because the first thing they do is run after money. The second fact is, the enter the trading realm without proper knowledge. And we all know what happens when we try to do something that we are not experienced enough.
Most of them drop out after making huge losses and those who follow proper strategies to learn Bitcoin first and then step into trading are those who stand still in the end. So I agree with you, we should keep on trying and never give up if we really want to achieve success in trading.

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Success is not important. It’s important to control the trading amount so that you don’t make any losses. You don’t make millions overnight by trading. Gradually with experience you will become a better trader and will make good amount of money. You just need to control the emotions whole trading. Do the market analysis with depth, and focus on more theoretical knowledge rather than rushing to trade.

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Quote from: milewilda on December 29, 2023, 02:32:54 PM

When it comes on thriving and making yourself as a good or successul trader then it would really be that requiring that time and effort on which you would really be that need to do so. We should bare in mind that when it comes to success then everything would really be that subjective since we do know that it wont really be that something that would really be that easy and factors that could really affect when it comes in overall
profitability will really be depending on how well you would really be able to make trades on which not all people would really be having that kind of skill and understanding on how trading works but somehow
even despite of being hard, we can really still have a good grasps into it.

To achieve a good process requires persistence and experience to continuously hone one's skills in trading, this makes most people unable to survive because trading involves time and money when we learn to understand.
Although we can try to learn by using small capital first to get used to doing it. The level of subjectivity depends on how often we engage in it because the more often we do it, the more experienced we are in trading.
Trading skills are indeed difficult to learn because there may be many people who don't dare to take risks, but when we seriously learn it, I'm sure we will slowly master the correct trading method.

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In reality there is quite difference between theory and practical. But we cannot reject the theory. For any job we must know theory well along with practical experience. Trading is a platform where people can expose themselves to big financial risks for little reasons. Starting a trade without knowing about trading means facing guaranteed financial losses. Although we cannot say that a trader can make a profit just by taking a trade, an experienced trader knows when and where to trade. Moreover, a trader needs to know some things that should be known in order to trade. A bitcoin trader needs to know about bitcoins. After knowing various things like how Bitcoin works and when investors are attracted here, if a trader does not have the rules of Bitcoin trading then he can profit by trading in Bitcoin. But for those who are new, Bitcoin trading will be very difficult. As it is highly volatile, the risk is high.

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Quote from: Troytech on December 26, 2023, 08:48:36 AM

Many persons have shared their bad experiences about trading in general, how they lost their funds, got into debt, even wrecked their finances. That's true trading bears such risk but that should not stop you from trying. In as much as there are successful traders you too can be successful in trading. It all starts with your passion, it has been made known by Napoleon Hill a popular writer, famous for the book think and grow rich, that desire is the starting point of all success.

Knowing how to trade would only get you that far, but not j to the realm of successful traders. It takes a whole lot of desire to win, persistence and consistency to be a successful trader. So I assure that anyone who wants to be a successful trader can be by pursuing with passion.

Also Statistics shows that we have more Bitcoin traders than investors. And this is because most persons prefer to take the short term benefit of trading the volatility of bitcoin. Don't limit yourself to just being passionate about bitcoin. Start something with the knowledge. At least if your not into bitcoin as a means of payment, store of value, investment then being a trader could help.

Merry Christmas 🎅 🎄 to you all.

Sure, but its not for everyone. Like you said, people needs to be very patient and "know" how the market works. There are newbie traders when they see that the price has dropped, they start panicking or don't know what to do and ends up selling at loss. Few minutes later, they see the price go back up again, and then they buy high, in the process losing even more money. Though yeah, its true that it is easy to say "buy high sell low" but in reality, its much harder to execute it. Most traders lose hope and then there are those kind of traders that don't want to learn from their mistake. They keep repeating the same mistake and end up getting exhausted. Every trade is an "experience" and there is something to learn from it.

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Quote from: Kelvinid on December 27, 2023, 09:38:15 AM

Quote from: tvplus006 on December 27, 2023, 07:23:29 AM

Quote from: vuittont50 on December 27, 2023, 03:47:59 AM

It is very difficult to me...I always trade in the opposite direction and lost money...

It's sad, but you're not the only one who loses his money trading. According to statistics, 90% of traders lose their money. And the fact that almost everyone writes on the forum that they trade and make a profit is just a desire to pose as a successful trader, and not a statement of reality.

Some traders prefer to be okay and continue trading hoping for some luck like they are in gambling rather than telling what really happens to them.
That certainly happened to me, not all the time I was in profit, the same thing with losses but that is normal. But as I've tried to evaluate the number of times that I was in profit, I find out that I lost more than what I earned - quite disappointing. So I decided not to focus on trading and I'm now more into investing because I see it was less stressful.

People are ready to say okay after a lose rather than over-thinking on losses but we should try harder next time. We need to figure out why we lose, and what can we do in order to improve. Not just we will do the same act and just purely relying in luck because nothing will happen to us with that. We can only get the same results. It's also fine to confess the issue to someone who think is better than us.

This is what I heard last time to a one influencer, that we should admit that we are not good and someone out there is better and will always be better than us. It's also okay to venture other things like what you did, if we can't seem to improve on the one that we are currently doing.

Topic: Anyone can succeed as a bitcoin trader - page 2. (Read 767 times)