topics like this have often been discussed, Good traders don't only rely on strategy but also mentality and patience, the most difficult thing in trading is not about strategy or analysis, but patience in controlling yourself from fear and greed.
Absolutely need strategy in all type of trading but you are the correct this point likes first priority will be patience. Good or bad traders dose not matter, i think any trader should be follow to strategy and definitely we will focus on risk management. Good strategy will help you a lot in reducing loss when you will go big loss. 
Topic: Best Trading Strategies- Best Practices - page 2. (Read 1028 times)
I think all currency pairs require a different approach/strategy but from what I have seen and works most of the time, trade when you recognize the pattern and remember your risk management techniques to avoid blowing your account.
No, each currency pair would have the same approach or strats when it comes to positioning or entries.It will only just vary on volatility but the whole concept is just the same.
Patterns? Not all the times for you to rely into these things.Why? it isnt precise nor accurate for you to depend on but somewhat it is much more better rather than
blindly trading.
Dont be greedy and set out plans then you would be on the good path.
If you're a newbie and feel overwhelmed by OP's list of best practices, I will advise a much one simpler one to follow. Since you're just starting out, your best bet is to maintain your consistency as it'll help you on your journey as a trader.
Just be consistent and learn more. Don't skip steps.
I have seen least newbies being consistent. Most of the newbies can think that they already have great knowledge which does not need any much replenishment which might make them directly move onto trades without going through any minor steps which might lead to to have loss.Just be consistent and learn more. Don't skip steps.
There are a number of smaller points which should be considered before moving onto real trades because trading with the huge volatile markets would never give you profits if you are unaware about the steps to minimize your risk, maximize your profits, diversify your portfolio, etc because these small things are going to help you on a major extend. That's why I always prefer each and every newbie to spend hours in learning about these points before they could trade with any coin.
- Watch the price action
- Watch the order flow
- Recognize the pattern
- Do quant analysis
- Study charts
- Analyze trends
If you're a newbie and feel overwhelmed by OP's list of best practices, I will advise a much one simpler one to follow. Since you're just starting out, your best bet is to maintain your consistency as it'll help you on your journey as a trader.
Just be consistent and learn more. Don't skip steps.
While I do not think it is a bad advice at the same time I think you are asking too much from newbies, most people are not going to be able to do half of the stuff that you want, most newbies are not going to be able to recognize the patterns in the market, they cannot really tell the direction of the trend or how to study the charts, this is why it is recommended that people at first trade with a very small amount of money, that way even if you lose you will not be seriously affected by it and once you can do all of that then you can use all your money.
thats why they called newbies and we feed them tips and tricks like we have here right now but its true that the tips are not that beginner friendly , there are too many of them and the terms use are also confusing .
while you suggest here is one of those easy to understand . this is also the first one that a beginner can do . as a trader its hard to grasp the other stuffs but if you can only bet small , you wont be harmed no matter what your trades end up .
While I do not think it is a bad advice at the same time I think you are asking too much from newbies, most people are not going to be able to do half of the stuff that you want, most newbies are not going to be able to recognize the patterns in the market, they cannot really tell the direction of the trend or how to study the charts, this is why it is recommended that people at first trade with a very small amount of money, that way even if you lose you will not be seriously affected by it and once you can do all of that then you can use all your money.
thats why they called newbies and we feed them tips and tricks like we have here right now but its true that the tips are not that beginner friendly , there are too many of them and the terms use are also confusing .
while you suggest here is one of those easy to understand . this is also the first one that a beginner can do . as a trader its hard to grasp the other stuffs but if you can only bet small , you wont be harmed no matter what your trades end up .
- Watch the price action
- Watch the order flow
- Recognize the pattern
- Do quant analysis
- Study charts
- Analyze trends
When you are trading beginner, there is a lot to learn. Here are a few steps to get you started in the right direction. These tips will not only help you decide what and when to trade, but also show you how to manage risks, and how much capital you will require.
One thing I consider most in trading is to know our own limitations. Some people push themselves in trading even though they don't have such capabilities. Yes, knowledge could be gain as we go into trading but the question is, are we preferred and accept losses? Maybe not.
If we know a word enough, we simply skip from losing too much. Changing our mindset to a positive one and being contented of what we might get during our trades( even it is just 1% gains), it surely we will go far.
That's a major point. Understanding our limits is much necessary every time we perform any trade.If we know a word enough, we simply skip from losing too much. Changing our mindset to a positive one and being contented of what we might get during our trades( even it is just 1% gains), it surely we will go far.
Trading might show you immense profits and even most of the people sit and calculate the profits first before entering the markets. This creates major greed into their minds. They would hardly find profits from the trading markets because they would never be happy with smaller profits and this is where they forget about their limits and move onto reach higher limits but they drag down in a glance of eye as the markets might never be stable on one single price. They need to hold coins once they move in opposite directions but greed of money makes them panic sell those coins and buyback with some margin.
- Watch the price action
- Watch the order flow
- Recognize the pattern
- Do quant analysis
- Study charts
- Analyze trends
When you are trading beginner, there is a lot to learn. Here are a few steps to get you started in the right direction. These tips will not only help you decide what and when to trade, but also show you how to manage risks, and how much capital you will require.
Proper study and deep technical analysis can lead you to gain profits from trading but if you lack any of them, you would be on the verge to face loss. New traders should spend their maximum time in learning about trading rather than going for actual trading.
What parameters need to be checked for market study before investing in Bitcoin
Before investing in Bitcoin I think you can analyze trading charts and strategies for market study These charts help you determine the difference between investment costs. You need to experiment with red and green lights.
Analyzing the price trend can be useful for all kinds of trades but it doesn't give 100% assurance of making profits if we follow that strategy all you can do is to minimize the loss of losing your profits and capital. Beginners who don't have enough knowledge about trading strategies should start with a stable pair this will make their things easier until they get familiar with trading practices.
And it much better also to use known and reputable exchanges to have their security assurance. Because newbie would never think that much as they only focus on fees, coins to trade and the market price flows. Anyway, we started that kind of struggle as we firstly engage in crypto trading, no one gets perfect instantly and with the help of the internet with regards to trading tutorials it becomes a training tool to enhance our knowledge and step into the next level of competency. Tutorials is worthless if you can't absorb the knowledge deeply, and what's the problem in learning process was focus on trading. All the recommendations is gladly applicable if a person understands the risk entirely.
We should find somebody who will provide us mentorship, particularly with the guidance in trading specially during chart analysis. Honestly, it's not an easy task because it'll give you lots of headaches when trading your pressured on crucial trading changes of trend fluctuations.
Absolutely, practice is way more important than seeking more information without applying it. If you know how to understand the process and how the cryptocurrency works in the market, then you have the idea of what are the plans and strategies you should do. Maybe some people are asking professionals to seek for advice and tips, just make sure that the people you have conversation with are legit and effective trader. Be sensitive about the platform you seek information with because that will serve as your guide for improvement as a trader. Cryptocurrency needs a wide critically thinking skills to avoid losses and stress.
Analyzing the price trend can be useful for all kinds of trades but it doesn't give 100% assurance of making profits if we follow that strategy all you can do is to minimize the loss of losing your profits and capital. Beginners who don't have enough knowledge about trading strategies should start with a stable pair this will make their things easier until they get familiar with trading practices.
And it much better also to use known and reputable exchanges to have their security assurance. Because newbie would never think that much as they only focus on fees, coins to trade and the market price flows. Anyway, we started that kind of struggle as we firstly engage in crypto trading, no one gets perfect instantly and with the help of the internet with regards to trading tutorials it becomes a training tool to enhance our knowledge and step into the next level of competency. 
When you are trading beginner, there is a lot to learn. Here are a few steps to get you started in the right direction. These tips will not only help you decide what and when to trade, but also show you how to manage risks, and how much capital you will require.
Although there's a lot to learn in cryptocurrency trading, you shouldn't go wasting time wanting to acquire all the available knowledge before you start trading, get the basic knowledge and start immediately while you acquire more knowledge as your engagement in the skill increases also you have the opportunity to learn from your mistakes as well as that of ours through their experience. Trading isn't something one has to know every aspect before they should engaged themselves.
A beginner should get familiarize with the basic information like been able to open and close trade, developing a trading strategy that best suits him/her trading style. Been able to understand and operate the exchange he intend using for the trading activities, while as understanding the industry in that not all that glitter is gold that's to say, been able to identify worthless project and to differentiate them from potential profitable ones.
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eXch.cx - Automatic crypto Swap Exchange.
When you are trading beginner, there is a lot to learn. Here are a few steps to get you started in the right direction. These tips will not only help you decide what and when to trade, but also show you how to manage risks, and how much capital you will require.
Although there's a lot to learn in cryptocurrency trading, you shouldn't go wasting time wanting to acquire all the available knowledge before you start trading, get the basic knowledge and start immediately while you acquire more knowledge as your engagement in the skill increases also you have the opportunity to learn from your mistakes as well as that of ours through their experience. Trading isn't something one has to know every aspect before they should engaged themselves.
A beginner should get familiarize with the basic information like been able to open and close trade, developing a trading strategy that best suits him/her trading style. Been able to understand and operate the exchange he intend using for the trading activities, while as understanding the industry in that not all that glitter is gold that's to say, been able to identify worthless project and to differentiate them from potential profitable ones.
Analyzing the price trend can be useful for all kinds of trades but it doesn't give 100% assurance of making profits if we follow that strategy all you can do is to minimize the loss of losing your profits and capital. Beginners who don't have enough knowledge about trading strategies should start with a stable pair this will make their things easier until they get familiar with trading practices.
And it much better also to use known and reputable exchanges to have their security assurance. Because newbie would never think that much as they only focus on fees, coins to trade and the market price flows. Anyway, we started that kind of struggle as we firstly engage in crypto trading, no one gets perfect instantly and with the help of the internet with regards to trading tutorials it becomes a training tool to enhance our knowledge and step into the next level of competency. Tutorials is worthless if you can't absorb the knowledge deeply, and what's the problem in learning process was focus on trading. All the recommendations is gladly applicable if a person understands the risk entirely.
We should find somebody who will provide us mentorship, particularly with the guidance in trading specially during chart analysis. Honestly, it's not an easy task because it'll give you lots of headaches when trading your pressured on crucial trading changes of trend fluctuations.
Analyzing the price trend can be useful for all kinds of trades but it doesn't give 100% assurance of making profits if we follow that strategy all you can do is to minimize the loss of losing your profits and capital. Beginners who don't have enough knowledge about trading strategies should start with a stable pair this will make their things easier until they get familiar with trading practices.
And it much better also to use known and reputable exchanges to have their security assurance. Because newbie would never think that much as they only focus on fees, coins to trade and the market price flows. Anyway, we started that kind of struggle as we firstly engage in crypto trading, no one gets perfect instantly and with the help of the internet with regards to trading tutorials it becomes a training tool to enhance our knowledge and step into the next level of competency.
Analyzing the price trend can be useful for all kinds of trades but it doesn't give 100% assurance of making profits if we follow that strategy all you can do is to minimize the loss of losing your profits and capital. Beginners who don't have enough knowledge about trading strategies should start with a stable pair this will make their things easier until they get familiar with trading practices.
- Watch the price action
- Watch the order flow
- Recognize the pattern
- Do quant analysis
- Study charts
- Analyze trends
When you are trading beginner, there is a lot to learn. Here are a few steps to get you started in the right direction. These tips will not only help you decide what and when to trade, but also show you how to manage risks, and how much capital you will require.
Even a professional is also still doing that strategies and practices. Everyone is prone to losses that's why we should not focus only to those beginners. Good quality of strategies is the best weapon to prevent and avoid failures in cryptocurrency. What do you mean by emotional discipline? I think that's the hardest strategy for the beginners to practice because most of the beginners are very greedy and hasty. Some of the professionals are also greedy but they are knowledgeable enough to handle that kind of situation.
Your list is about learn trading by technical method but I think combine with fundamental will be great. Fundamental make from rumor and can invite people to enter/ out market with perspective not logic. Most people using this method for speculation and because this one technical method lost their great prediction. Stay learn and practice with your best method because practice make perfect.
Which fundamental methods can actually be used in order to gain profits from the trading market? And I can't understand how could we be able to predict the false traps or rumors as you said just by doing some fundamental research? Technical Analysis plays an important part and it could really help us to recover and make profits from the highly volatile markets.OP seems a new trader who have recently joined into trading and for his case, understanding and implying the points mentioned in the OP would be a good head start. People need to start slow in order to gain immense knowledge. If new traders hurry onto learning new things before understanding the previous thing consciously than I am sure they would only bear loss.
I think all currency pairs require a different approach/strategy but from what I have seen and works most of the time, trade when you recognize the pattern and remember your risk management techniques to avoid blowing your account.
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