Avoid trading unless you are sure of what you do - page 14.

wuvdoll

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Quote from: ChrisPop on January 13, 2019, 01:06:34 PM

Not everybody can be a professional trader. Remember that around 90% of traders end up losing money.

No, anyone can be a professional trader if they are ready to dedicate some time for the preparations toward achieving the goal of becoming professional trader. Only 10% of traders are finding profits ? Then why we need to be here ? No, there are plenty of chances for everyone to be successful in trading, it would be around 50% of chances. You simply sound like mentioning about gambling as with gambling only there cannot be any professinal traders and 90% of gamblers are always facing losses.

Quote from: ChrisPop on January 13, 2019, 01:06:34 PM

master the art of technical analysis, be able to control your emotions very well ( a trader needs to be cold hearted) and have proper risk management.

These are possible for anyone over intensive practices rather than learning from books or through internet. Even learning is the first step, that will not help any trader, we must practice in real time to become professionals in crypto trading.

cokroalif

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If you are serious about becoming a trader, then you need a trading plan.
1 Assess your skills
2 Mental Preparation
3 Determine your level of risk
4 Determine your goal
5 Get ready for trading
6 Rules for Entry and Exit

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Quote from: kkaroul4 on November 07, 2018, 08:38:23 AM

~snip~ if in my opinion you better stop the job name like gambling, because it will make your life more difficult if it continues. ~snip~

He didn't mean saying the real gambling job. He just compared trading with gambling, and he think it has similarity if you don't have enough knowledge in trading. A trader needs to have sufficient knowledge and know well the market characteristics and condition.

Best Dreams

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Quote from: Dewi Aries on January 13, 2019, 05:57:37 AM

Quote from: Coinifyx on November 07, 2018, 07:13:57 AM

Really it will become just like gambling, addictive and manipulative, it's very much like poker only if you are an expert you can accomplish something

This is also a remind for myself, sometime I would like to trade again but I remember the bad experiences I had with it and stop

Little agree with this, because trading is addictive whether you lose or not. When you lose, you still curious to do it again and want to fix your mistake in old. And if profit you will want more than it. Just control ourself is something to good to do.

And this kind of people earns finally because trying to be a trading master is all about us. People do mistakes but instead of being disheartened good is to learn from your mistakes and try again with more strength and passion. First mistake can be your next success but you will have to keep going even if you fall during walking as a trader for first time.

ChrisPop

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Not your Keys, Not your Bitcoins

Not everybody can be a professional trader. Remember that around 90% of traders end up losing money. In order to be successful you need to accomplish 3 things: master the art of technical analysis, be able to control your emotions very well ( a trader needs to be cold hearted) and have proper risk management. Good luck!

davinchi

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Quote from: babysweetTiger0401 on January 13, 2019, 10:53:04 AM

If anyone is don't have enough idea or knowledge in trading better for them not to risk their coins to trade it in the exchange. Because if you know what you are doing in the platform for sure you will gain a lot.

Trading is not a child play, if we're not careful enough then we will lose all our capital within seconds. Yes, trading is known for swallowing our money when we are not opening a trade with reason. I have tried many times blind trading and all those times I have learned big lesson by paying big fees.

Knowledge and experience are important factors, anyone must have before going for trading. These are more important for all types of trading but for crypto trading especially, we must have thorough experience along with sound knowledge so that we can withstand against highly fluctuating this crypto markets.

babysweetTiger0401

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Quote from: Coinifyx on November 07, 2018, 07:13:57 AM

Really it will become just like gambling, addictive and manipulative, it's very much like poker only if you are an expert you can accomplish something

This is also a remind for myself, sometime I would like to trade again but I remember the bad experiences I had with it and stop

You really have a point in that matter pal. If anyone is don't have enough idea or knowledge in trading better for them not to risk their coins to trade it in the exchange. Because if you know what you are doing in the platform for sure you will gain a lot.

Nahl

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People has been already became an impromptu traders since bitcoin price high and they have just following people with buy more bitcoin because they had thought bitcoin price were not fall but because most of them doesn't have enough knowledge how to trading then when the price fall usually most of them will being panic and sold their bitcoin at cheap price and you says is true that for those who does not how to trading then they have to avoid it

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Quote from: Coinifyx on November 07, 2018, 07:13:57 AM

Really it will become just like gambling, addictive and manipulative, it's very much like poker only if you are an expert you can accomplish something

This is also a remind for myself, sometime I would like to trade again but I remember the bad experiences I had with it and stop

I certainly agree with you. It is really important that we'll know what we are doing. Having enough knowledge about trading is an advantage and is a big help for us to perform trading better. It would be a trial and error experience but learning things about it would be a big help and might result to a lesser risk.

Dewi Aries

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Quote from: Coinifyx on November 07, 2018, 07:13:57 AM

Really it will become just like gambling, addictive and manipulative, it's very much like poker only if you are an expert you can accomplish something

This is also a remind for myself, sometime I would like to trade again but I remember the bad experiences I had with it and stop

Little agree with this, because trading is addictive whether you lose or not. When you lose, you still curious to do it again and want to fix your mistake in old. And if profit you will want more than it. Just control ourself is something to good to do.

detector

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★

Trading is the great way to make profit rather than taking deposito or bank's monthly interest.
In crypto trading,the risk is greater because the value always change without being expect.
Personally I prefer to hold rather than doing short term trading

sana54210

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Quote from: Coinifyx on November 07, 2018, 07:13:57 AM

Really it will become just like gambling, addictive and manipulative, it's very much like poker only if you are an expert you can accomplish something

There were lots of discussions on this forum comparing gambling and trading but it never got concluded because different people are having different opinions. In my opinion too, if you are not prepared appropriately to face the challenges of crypto markets and more especially against its fluctuations, then it is highly recommended to stay away from the markets. Yes, going without proper preparation is simply a gambling, nothing more or nothing less.

Quote from: Coinifyx on November 07, 2018, 07:13:57 AM

sometime I would like to trade again but I remember the bad experiences I had with it and stop

I just foresee your future that you got all the basic capabilities to become a professional trader because you have already started making use of "your experience" Wink

. Yes, your bad incidents are your big experience and whenever you are remembering them then you can avoid losses and then you can find chances to make profits. This is a way, one trader will groom into a professional trader. Good luck

.

emilanea56

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Quote from: exstasie on November 07, 2018, 07:49:21 AM

Quote from: Coinifyx on November 07, 2018, 07:13:57 AM

Really it will become just like gambling, addictive and manipulative, it's very much like poker only if you are an expert you can accomplish something

This is also a remind for myself, sometime I would like to trade again but I remember the bad experiences I had with it and stop

It's a lot like poker, yes.

You don't have to be an expert, but just like poker, you need to have good risk management. It's really important to avoid big losses with strict stop losses. You also need to trade with a plan, and use statistical edges.

And much like poker, you also have to avoid going on tilt, letting emotion drive losses. It's good to treat trading very mechanically.

I agree with your view, trading is beside knowledge, it has lots of lucky inside, when I had confusion, I always go out or sleep

xenxen

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you need to learn more about trading before to start of it..this is better than to gambling. in trading if you know what to do and you have a lot of experience to have a profit it is possible to become addicted on this.. losses on first try is part of experience.

steampunkz

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I am only trading for now because I need some money because of emergency matters. But for long term trading, I have no greater experience on that. But still learning new ways to double my coins in exchanges.

Coinifyx

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Quote from: wayaneka on January 12, 2019, 09:17:32 PM

I think trading activity is one of the way to get successfully, just like others kind of business model that will any risk. We should be have knowledge how to minimize the risk by learn more about risk management and trading plan before put money in to this activity. All business model has risk and only by management of risk and money we can minimize it. If we dont take any risk we will never get successfully. Warren Buffett is one of the richest people in the world that make amillion dollar from trading activity.

Never saw anyone being successful at trading outside of lucky and insiders

wayaneka

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I think trading activity is one of the way to get successfully, just like others kind of business model that will any risk. We should be have knowledge how to minimize the risk by learn more about risk management and trading plan before put money in to this activity. All business model has risk and only by management of risk and money we can minimize it. If we dont take any risk we will never get successfully. Warren Buffett is one of the richest people in the world that make amillion dollar from trading activity.

Bustart

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Quote from: asyakashi on November 07, 2018, 12:45:04 PM

I describe your personality as very bad for being a trader, a kind of unstable emotion and easily discouraged. sorry this is only a brief analysis. trading is very close to emotional control. I hope you don't give up and make a negative judgment.

We can't prevent these people to give negative judgement upon looking at this current situation of a volatile market, that has been shaken the entire cryptocurrency community. Avoiding trading while there's no certain knowledge about what is behind the actual scenario during crucial times. You need do trials before you start being involved with trading, so you may gain confidence when there's a possible circumstances which may happen.

bitvalak

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in trading you need a trading plan so you don't think that this is gambling. In trading there is only probablity, not certainty. You have to manage money management well if you want to survive in the world of trading.

liuqi

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All the traders are must read the articles and procedure of crypto trading. So every beginners are start with small scale trading in Bitcoin or altcoin it will be more promising investment so all the peoples are know about the risk of crypto investment.

Topic: Avoid trading unless you are sure of what you do - page 14. (Read 23297 times)