Topic: Characteristic of trader - page 2. (Read 825 times)
Write a book about this. It can help some people
Excellent performance. Each trader in different quantities have all these qualities and if you are going to become a trader read this entire characteristic again and remember it for life. It will help you a lot. P.S This is my personal advice.
Traders in this market often have a lot of time. And the particular thing I see in the trader is that they always try to learn and analyze. So they have a very sensitive mind to this market.
The best traders know their limitations and expand a lot of energy in limiting and controlling their risks before thinking about profits and trading success comes from time and screen experience. Therefore, different characteristics are developed. The best traders have a well-documented plan, the important thing is they know exactly what they are looking for and follow their plan
Being a trader you need good characteristics while you trade because maybe it is the key of your success in life. Mostly of the trader who are earning money they can use characteristics but not only this you need also strategy but the priority is the characteristic because if you have that you can do anything to become successful in your life od to earn more money in trading.
A good trader is patient and not too greedy.
the points mentioned here are interlinked to every point is important to remember for every crypto traders most valuable information indeed
For me the characteristics of the trader is flexible in this business, can work or deal with pressure, know the critical thinking and analytical when the hard times come
because of the conflict or circumstances in the business, must have a good communication skills and patience.
because of the conflict or circumstances in the business, must have a good communication skills and patience.
To be a profitable trader, you must have a keen mind to analyze the market. And to trade in this market I think you have more time to read and analyze the market.
I seem to see a lot of trader character who is impatient, easily panicked and greedy, and to be honest I have a criteria that easily panic, greedy and I also have confidence and have a very high patience.
Greediness is always the biggest mistake that most traders do when they just start trading, because it leads to a lot of losses in a short period of time, and we all know that
being a trader needs some experience and knowledge because unlike other trades the price is uncertain the right decision must be taken then enough knowledge will underlie everything.
Greediness is always the biggest mistake that most traders do when they just start trading, because it leads to a lot of losses in a short period of time, and we all know that
For me the characteristics of the trader must have a pleasant personality to know how deals with the conflicts and struggles in this kind of business, know how to do critical thinking during hard times and must active and analytical to the flow of the business.
There's a lot of factors to consider in order to say if someone is a good trader and having all of these will guarantee you success in the crypto world. Good monitoring skill is one of them because as you can see, we based our buying and selling decisions on the movement of the coins in the market and if you have good monitoring skills there's a big chance of you choosing the right and the most profitable coins out there. Another one is flexible in time management because here in crypto time is gold and just a split of seconds you can lose all of your money.
I think greed and fear are the most and strongest reasons to losing money , and those two are in the human nature , We have born with them and controlling them is very hard sometimes , I believe a bit of them are necessary but too much , make you lose!
Being greedy is also a characteristic of a gambler. Wanting much more money will merely lead you to your failure. Panicking is the characteristic of most people on this forum. So, when the price drops by $100, you will notice many threads made about the end of bitcoin. Patience, as you mentioned, is the key to success. In every field, you need to be patient and leave everything for time to decide. Doubt is a natural thing if you ask me because it is the path to the truth.
in trading activity we just need to taking control the emotions in trading depending on the trend of price in the markets, target of profit in trading activity and any other related with the trading until we to be sucessfull in trading and getting the active income profit.
CHARACTERISTICS OF SUCCESSFUL TRADERS
Detail Oriented – It shouldn’t come as a surprise that being detail oriented is important to being a successful trader. Type a ticker wrong or fat finger a quantity and things can go south very fast. A suspected typo of 16 billion vs 16 million shares of Proctor & Gamble led to a significant dip, albeit temporary, in the markets back in 2010. And several hours of trading were halted on the NASDAQ in 2013 due to human error. Accuracy and being detail oriented are critical for trades to run smoothly. Nobody wants to deal with the stress, costs, and complications of human error.
Organized – Alongside being detail oriented is having a knack for organization. Successful traders can keep track of multiple orders and follow through until everything is fully executed. Fall asleep at your desk or forget to complete an order and the consequences could be ugly. Traders are also able to keep track of all of their trading records, likely through the use of software, so data doesn’t get lost or reported incorrectly.
Patient – Experienced traders don’t expect to make profits quickly. Value focused traders in particular are known for their patience since it can take long periods of time for undervalued securities to become profitable. Having patience can also go a long way when the markets or specific securities are taking time to recover, and avoid making a move too soon.
Able To Face Fears And Move Past Losses – Successful traders learn from past losses and move on. It’s impossible to make money on every single investment and traders realize this. So instead of harping on losses, accomplished traders use those experiences to adjust their strategies and plans on future trades.
Adaptable – There’s no doubt the economy and markets are constantly changing. Successful traders are able to recognize shifts and changes that may affect their existing and prospective holdings. Being adaptable and quickly accepting change can come in handy and lead to more profits.
Proactive Not Reactive – A rookie mistake that inexperienced traders may make is overreacting and making rash trading decisions. Experienced traders think things through before making decisions, and recognize the downsides to overreacting and reacting too soon. Keeping a keen eye out for the latest trends, from what cars people are driving, to the brand of shoes the kids are wearing, are just a few of the ways you can get new investing ideas to research further and proactively invest before the market becomes overbought.
Disciplined – The ability to focus and stay disciplined is important as a trader. Sticking to a plan, actively watching the markets, and following through are essential. An undisciplined trader could lose out on profits by overlooking significant market movements, missing industry trends, or even losing sight of his or her trading strategy.
Put Emotions Aside – You’ve probably heard someone say it isn’t wise to get emotional when investing and making trades. Research has shown that traders who are too emotionally impacted by their daily gains and losses perform worse on average than those who don’t get overly emotional. Getting too emotional can lead to overreacting, poor decision-making, and losing focus.
Look Past The Hype – It’s easy to get pulled into believing everything you read and hear in the media. However, things can get overdramatized, taken out of context, or overplayed on the news. Successful traders think for themselves, have their own opinions about current events and market trends, and make their own conclusions without getting overly drawn into the hype.
Embrace Their Inner Psychopath – Oddly enough, studies have shown that the desire traders feel to win at all costs is greater than what psychopaths’ experience. According to one German study, part of the reasoning behind this is traders are comfortable taking on more risk. Additionally, successful traders tend to make sacrifices to gain competitive advantages over others. Perhaps the craziness of high stress and adrenaline rush environments that successful traders thrive on is also a contributor.
Detail Oriented – It shouldn’t come as a surprise that being detail oriented is important to being a successful trader. Type a ticker wrong or fat finger a quantity and things can go south very fast. A suspected typo of 16 billion vs 16 million shares of Proctor & Gamble led to a significant dip, albeit temporary, in the markets back in 2010. And several hours of trading were halted on the NASDAQ in 2013 due to human error. Accuracy and being detail oriented are critical for trades to run smoothly. Nobody wants to deal with the stress, costs, and complications of human error.
Organized – Alongside being detail oriented is having a knack for organization. Successful traders can keep track of multiple orders and follow through until everything is fully executed. Fall asleep at your desk or forget to complete an order and the consequences could be ugly. Traders are also able to keep track of all of their trading records, likely through the use of software, so data doesn’t get lost or reported incorrectly.
Patient – Experienced traders don’t expect to make profits quickly. Value focused traders in particular are known for their patience since it can take long periods of time for undervalued securities to become profitable. Having patience can also go a long way when the markets or specific securities are taking time to recover, and avoid making a move too soon.
Able To Face Fears And Move Past Losses – Successful traders learn from past losses and move on. It’s impossible to make money on every single investment and traders realize this. So instead of harping on losses, accomplished traders use those experiences to adjust their strategies and plans on future trades.
Adaptable – There’s no doubt the economy and markets are constantly changing. Successful traders are able to recognize shifts and changes that may affect their existing and prospective holdings. Being adaptable and quickly accepting change can come in handy and lead to more profits.
Proactive Not Reactive – A rookie mistake that inexperienced traders may make is overreacting and making rash trading decisions. Experienced traders think things through before making decisions, and recognize the downsides to overreacting and reacting too soon. Keeping a keen eye out for the latest trends, from what cars people are driving, to the brand of shoes the kids are wearing, are just a few of the ways you can get new investing ideas to research further and proactively invest before the market becomes overbought.
Disciplined – The ability to focus and stay disciplined is important as a trader. Sticking to a plan, actively watching the markets, and following through are essential. An undisciplined trader could lose out on profits by overlooking significant market movements, missing industry trends, or even losing sight of his or her trading strategy.
Put Emotions Aside – You’ve probably heard someone say it isn’t wise to get emotional when investing and making trades. Research has shown that traders who are too emotionally impacted by their daily gains and losses perform worse on average than those who don’t get overly emotional. Getting too emotional can lead to overreacting, poor decision-making, and losing focus.
Look Past The Hype – It’s easy to get pulled into believing everything you read and hear in the media. However, things can get overdramatized, taken out of context, or overplayed on the news. Successful traders think for themselves, have their own opinions about current events and market trends, and make their own conclusions without getting overly drawn into the hype.
Embrace Their Inner Psychopath – Oddly enough, studies have shown that the desire traders feel to win at all costs is greater than what psychopaths’ experience. According to one German study, part of the reasoning behind this is traders are comfortable taking on more risk. Additionally, successful traders tend to make sacrifices to gain competitive advantages over others. Perhaps the craziness of high stress and adrenaline rush environments that successful traders thrive on is also a contributor.
Hello everyone
I am newbie here in cryptocurrency trading so i can feel what newbie feel when they start trading.
As newbie, one thing we have to do is learning. Learning can be from any source for example this forum, google, youtube or maybe private with expert. You can choose betwen those source to learn how to start trading so of course we do it to get skill which we can use to trade. Skill is very important but there are other thing such characteristic that we can not learn so easy from those source.
1. Greedy
Greedy is first characteristic that can make us ending in loss. If we trade without profit target, this greedy can kill your profit. Try to make target for your trade for example 50% or 100% from your capital in long term or 5% in short term. Sell your asset after touching the target, if not the price maybe go back to bearish.
2. Patience
This is specially very important for long term trader. Dont ever sell your coin in the bottom of buying price. We should be patient waiting the price return back to bullish.
3. Panic
Panic can be solved by choosing the right coin. Becasue if we choose the shit coin then we will sell it in panic if the price goes down rapidly. So panic also very dangerous for our asset value.
4. Confident
Confident is needed when we try to pick the right coin. Without confident, we can miss the big chance of the profit because waiting too long to execute. But please dont over confident.
5. Doubt
Dont ever doubt if you think that is the good coin, just do fast reaction to make good profit. This doubt can be solved by doing good research before picking the coin.
I think all trader have noticed those above characteristic but thats special for newbie like me and other newbie.
I am not expert so i can not explain it well and i hope any expert can correct and add others if i miss it.
I hope it can be usefull for newbie.
Edit
Patience is the Key. Even me I am in the situation that sometimes thinking that how about if the price is not going to rise again will I sell now? Or still hold? Sometimes, this is so dangerous because losing of fear is sometimes end in losing all of that. Well, that's true that when you want to become trader you mus be patient and you have goal. If you want to become successful you should wait and control your self. I am newbie here in cryptocurrency trading so i can feel what newbie feel when they start trading.
As newbie, one thing we have to do is learning. Learning can be from any source for example this forum, google, youtube or maybe private with expert. You can choose betwen those source to learn how to start trading so of course we do it to get skill which we can use to trade. Skill is very important but there are other thing such characteristic that we can not learn so easy from those source.
1. Greedy
Greedy is first characteristic that can make us ending in loss. If we trade without profit target, this greedy can kill your profit. Try to make target for your trade for example 50% or 100% from your capital in long term or 5% in short term. Sell your asset after touching the target, if not the price maybe go back to bearish.
2. Patience
This is specially very important for long term trader. Dont ever sell your coin in the bottom of buying price. We should be patient waiting the price return back to bullish.
3. Panic
Panic can be solved by choosing the right coin. Becasue if we choose the shit coin then we will sell it in panic if the price goes down rapidly. So panic also very dangerous for our asset value.
4. Confident
Confident is needed when we try to pick the right coin. Without confident, we can miss the big chance of the profit because waiting too long to execute. But please dont over confident.
5. Doubt
Dont ever doubt if you think that is the good coin, just do fast reaction to make good profit. This doubt can be solved by doing good research before picking the coin.
I think all trader have noticed those above characteristic but thats special for newbie like me and other newbie.
I am not expert so i can not explain it well and i hope any expert can correct and add others if i miss it.
I hope it can be usefull for newbie.
Edit
Emotions :
The ability to rid yourself of all emotions and taking profit the moment the coin you invested increases in significant value before the coin gets dumped on you. This applies mostly to day traders.
Trading pattern :
Every good trader should recognize trading patterns especially for pump and dump coins which are usually always similar.
Thanks to kevohThe ability to rid yourself of all emotions and taking profit the moment the coin you invested increases in significant value before the coin gets dumped on you. This applies mostly to day traders.
Trading pattern :
Every good trader should recognize trading patterns especially for pump and dump coins which are usually always similar.
I will add a few important rules:
- Do not work with borrowed money.
- "The biggest enemy is nerves." Control emotions. Discipline and patience!
- Before entering the market, decide how much you are willing to lose. If you do not decide, do not go in; you will definitely lose everything.
I add this from kolega. Thanks- Do not work with borrowed money.
- "The biggest enemy is nerves." Control emotions. Discipline and patience!
- Before entering the market, decide how much you are willing to lose. If you do not decide, do not go in; you will definitely lose everything.
I want to share my experience of trading on a well-known exchange! At first he was a complete dilettante, thought about buying a coin, breaking his portfolio into part of bitcoin and part of other coins! After buying, I began to track the market, follow the news and after a successful investment in one of the coins (+ 1500%), interest and curiosity began to play out, that it was worth waiting in six months or a year of a successful project, started acting, selling a ballast that was in the rating of successful coins, but does not grow as I wanted, sold, bought other coins .... and then it started to wear me .... coins that I bought in the beginning began to shoot up, those that I bought at the top somewhere, began to fall and grow, but in general, they stand in one place, eventually after a couple of months, until January 20 18 years, I lost about 25% of the capital, came January and already February, a drawdown on capital of 60%, I think not one of me this situation, I hope for the best, after February 2018. I wanted to share some of my conclusions, which I understood:
1. No need to rush to buy a coin that began to grow up, look at all news channels about this coin about her idea and why it began to grow, perhaps the peak of growth has already passed it and the news has played!
2. Study the news, they will help you to be in the center of events!
3. Subscribe to coins, to their groups in social networks!
4. Do not sell on the bottoms, the coin will grow in any case, if you bought not a bad coin!
5. Study each coin, its team, its idea, because at any time you can get the finish and loss of money!
But as a probyte, do not be afraid and go into the capital, which you are ready to lose! Good luck to all:)
1. No need to rush to buy a coin that began to grow up, look at all news channels about this coin about her idea and why it began to grow, perhaps the peak of growth has already passed it and the news has played!
2. Study the news, they will help you to be in the center of events!
3. Subscribe to coins, to their groups in social networks!
4. Do not sell on the bottoms, the coin will grow in any case, if you bought not a bad coin!
5. Study each coin, its team, its idea, because at any time you can get the finish and loss of money!
But as a probyte, do not be afraid and go into the capital, which you are ready to lose! Good luck to all:)
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