Pages:
Author

Topic: Characteristic of trader - page 3. (Read 853 times)

full member
Activity: 196
Merit: 100
February 09, 2018, 07:36:09 AM
#91

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 this is the most needed characteristics of a good trader.  Patient is the first thing that trader must be learnt as their first lesson.
member
Activity: 182
Merit: 10
Algo Trader
February 09, 2018, 07:24:16 AM
#90
Here are few things I would like to add:

  • Patience
  • Willingness to loose
  • Descipline
  • Dedication


Understanding the technology is also important and needs to be checked before trading.
full member
Activity: 476
Merit: 100
February 09, 2018, 07:05:02 AM
#89
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

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 kevoh

   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

yes you mentioned very true and currently many new players who only have emotions and do not have a very high level of patience because if you know the key is in the patience you have.
newbie
Activity: 181
Merit: 0
February 09, 2018, 06:56:37 AM
#88
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

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 kevoh

   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
The characteristics needed when you are trader is to have a too long patience in able to deal in every  trading and also it requires a wise thingking that also can lead into success in every moment when you are trading. Entering a trading is needed a more effort and willingness to sacrifice just to gain  and be a successful at the other side everyone can avail ti trade but time,effort and long patiece needed and when you have these thing you would be able to become a successful trader.
full member
Activity: 462
Merit: 100
February 09, 2018, 06:07:22 AM
#87
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

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 kevoh

   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
All of us experienced this, doubts is there but you need to believe in your coins no matter what, also there are down market but we need patience to wait for the best price. Never become greedy because that will make you lose which is very true. You are right when you hold or we hold we need to have price goal to not lose your profit again. You must hold with goal.
member
Activity: 286
Merit: 31
February 09, 2018, 05:46:17 AM
#86
Trading success comes from screen time and experience.Because of that,different characteristic developed.The best traders have a well documented plan,the important is they know exactly what they are looking for and follow that plan to the letter.Best traders know their limitation and expand a lot of energy in limiting and controlling their risk before thinking about profits.
A proper paper work is very important for achieving your goals and targets. Without a proper plan followed by backups, it is not possible for vine the smartest person to achieve exactly what he or she wants. As far as becoming successful trader is concerned, the thing is that it demands specific things from the volunteer. He or she should have very good technical knowledge along with handsome experience.

Yes this is true that trading plan is very important to prepare for succesful trading.
Technical knowledge too, not only technical, fundamental knowledge also not less important. But this thread specially concern about characteristic only. But thanks for feedback.



This is a very good article to observing the quality of your trading, based on what you said is all about emotion and how to overcome it but i think mostly people failed in trading because they dont have strategies in every trade they make and only depend based on guts and how low the price has been dropped. Based on my experience i would like to add this few things and hope it works  Grin Grin
1. Always have and exit plan
Getting into the market and buying a coin is easy, what harder is having an exit plan. When will you close your position when you already gain some profits but the chart still looking strong and the price keep pumping? When will you cut your losses when the price dropped, or you just hold your coin and hoping in uncertainty that one day the coin will back into my open position price.

2. Maintain your capital / leverage
Either you trading using full capital in exchanger or using leverage in some trading platform, you should be aware that cryptocurrency trading has lots of risk and you should never overtrade or eat more that you can chew. Instead of using all your capital to buy 1 coin, i suggest to diversify it into other coins. Whether you diversify half into a long term investment and the other half for trading is based on your choice. However you should always keep some of your cash money for your own expenses and not overtrading and throw it all in the exchanger otherwise in market condition like these day, you will surely trapped with emotion whether you need to eat and cutloss your position or holding your position hoping for miracle while you starve to death  Grin Grin

Its very helpful too. Thanks for adding.
Those two also all about technical. I know without technical, trading will not have rule and goal. Its like blind trading.
But one more this is special for characteristic so thats why i dont add in thread.  Once more thanks
member
Activity: 336
Merit: 10
February 07, 2018, 10:15:00 PM
#85
For me im a trader but im not a perfect trader or proffesional im a simple trader that starting study about a technique of the best trader. For become a trader you need to study the basic candle sticks and pattern. You need to control your emotion to make some profit for every trade if you dont have emotion you will lose or make some profit about trade you will sell if you have profit and you sell if the coin dump so control your emotion .
sr. member
Activity: 882
Merit: 251
February 07, 2018, 09:56:57 PM
#84
I think this is good to know specially for newbie who want to start trading.
Skill is number 1 but we can not deny also this characteric because those are very important.

And I see a trader as a person, who is intelligent, patient, thoughtful, risky and the guy, who can take decisions very fast. I suppose all traders should be also educated people.
member
Activity: 224
Merit: 28
February 07, 2018, 08:41:48 AM
#83
That's an interesting thread!
Here are my characteristics of a good trader:

A GOOD CONTROL OVER SELF EMOTIONS: Be rational in your decisions, not emotional

PATIENCE: Don't chase a trade, instead let it come to you

ANTICIPATION & ABILITY TO READ MARKET SENTIMENT: Know when to buy (or sell) before everyone else know they need to buy (or sell)

HAVE A PLAN: Know what price you want to enter, what price you want to exit, your trade size and stop before you play your trade

LESS IS BETTER: It's better to know all the ins and outs of just a handful of tickers (coins) vs. jumping around 50-100 different tickers in the hope of finding the perfect setup

DIVERSIFICATION IS NOT FOR TRADERS: Diversification is a "BAND-AID" against ignorance.

CHART STORY: Learn how to read the story the chart is telling you
full member
Activity: 210
Merit: 100
February 07, 2018, 08:17:16 AM
#82
Each broker loses cash, and you should have the capacity to acknowledge this as a reality of your recently picked existence without freezing. Everybody in this field loses cash, yet the character attribute that isolates terrible merchants from fruitful choices brokers is the capacity to continue onward and to gain from the misfortune. Utilize the misfortune as a learning opportunity, to see where you can move your technique on, or alter it to lessen the hazard.
legendary
Activity: 1442
Merit: 1008
February 07, 2018, 02:40:08 AM
#81
everything you mentioned is true and all this has a solution and there is one key where you can control all these keys is patience, no matter how they trade and what character is just one solution, patience.
Exactly if they will have time to wait and money to trade in bitcoin then nothing will ever beat them but if they will be impatient then not sure for better future and profit, so in my opinion a trader should be, smart that he will have the power to trade and earn good profit, he should be wise and disciplined. Growth of bitcoin is depending on time of trading and amount of money that how much you are trading with smart time.
I think it could be misleading when it comes to trade something like an altcoin that created for short term purpose to die soon or long term purpose I mean like when you do so patient waiting the price move up to the highest level but then it's so stable on low value, your patience could be mean nothing but a huge loss. It's pretty clear conditional not only about patience but various factors.
full member
Activity: 854
Merit: 140
February 07, 2018, 02:35:41 AM
#80
This is a very good article to observing the quality of your trading, based on what you said is all about emotion and how to overcome it but i think mostly people failed in trading because they dont have strategies in every trade they make and only depend based on guts and how low the price has been dropped. Based on my experience i would like to add this few things and hope it works  Grin Grin
1. Always have and exit plan
Getting into the market and buying a coin is easy, what harder is having an exit plan. When will you close your position when you already gain some profits but the chart still looking strong and the price keep pumping? When will you cut your losses when the price dropped, or you just hold your coin and hoping in uncertainty that one day the coin will back into my open position price.

2. Maintain your capital / leverage
Either you trading using full capital in exchanger or using leverage in some trading platform, you should be aware that cryptocurrency trading has lots of risk and you should never overtrade or eat more that you can chew. Instead of using all your capital to buy 1 coin, i suggest to diversify it into other coins. Whether you diversify half into a long term investment and the other half for trading is based on your choice. However you should always keep some of your cash money for your own expenses and not overtrading and throw it all in the exchanger otherwise in market condition like these day, you will surely trapped with emotion whether you need to eat and cutloss your position or holding your position hoping for miracle while you starve to death  Grin Grin
hero member
Activity: 2940
Merit: 613
Winding down.
February 07, 2018, 02:34:15 AM
#79
All the trader must have target and must be consist so there wouldn't be any regret. Target when PUMP or DUMP. And you have to feel enough with the result, Good luck
That's a basic thing to consider when you are a trader, actually you need a lot of things to consider because the market does not
only move in one direction, there are times that it's profitable and there are times also that it's not, every situation requires different approach.
full member
Activity: 532
Merit: 101
February 07, 2018, 02:20:45 AM
#78
All the trader must have target and must be consist so there wouldn't be any regret. Target when PUMP or DUMP. And you have to feel enough with the result, Good luck
Good traders are well aware of what the trade is all about. They have mastered all the necessary skills for trading apart from just the knowledge about their trade. They know how to be patient when things does not seem to work for us, they realize their fears and they face them. Their decisions are based out of anger or emotions. A good trader must know how to calm in situations when others are expecting them to behave violently.
full member
Activity: 420
Merit: 101
February 04, 2018, 06:26:26 AM
#77
All the trader must have target and must be consist so there wouldn't be any regret. Target when PUMP or DUMP. And you have to feel enough with the result, Good luck
hero member
Activity: 2744
Merit: 541
Campaign Management?"Hhampuz" is the Man
February 04, 2018, 04:41:36 AM
#76
   I will add a few important rules:
- Do not work with borrowed money.
- There is no high price to start purchases, there is no low price to start sales.
- "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.
- You should not trade. You must manage the risks.
what a great advice this is the most important attitude traders must have,the Patience which always reason why traders failed to success in this field,never go with you emotions you must follow your instinct and feelings..panicking is the result of every uncontrollable emotion that will lead you to decide quicly though the end is failure.for the potential traders,you should read this thread its very helpful
member
Activity: 121
Merit: 10
February 04, 2018, 04:21:54 AM
#75
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

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 kevoh

   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
I believe that to become a trader you must be very good and smart. In order to make a good judgment about the market you have to be able to analyze the chart and combine it with the market information from the information channels and make the quickest and most accurate judgments. You also need a calm personality and a good sense of market, so you know the right time to buy and sell. Traders are really good people.
full member
Activity: 453
Merit: 104
February 03, 2018, 11:00:38 PM
#74
Trader must learn more about trading psychology, it so important to make the right decision while trading. Trader must avoid greedy ,and afraid . Trader should create strategy before start trading so the decision that they take will always right.
hero member
Activity: 2954
Merit: 796
February 03, 2018, 09:26:32 PM
#73
I think a trader is emotionless, if you are very emotional it can really affect your trading. and a trader must be fast because if not you will miss or maybe loss trades because of not being fast.
I agreed on what you just said mate, being emotional in terms of trading you are under of your emotion already. Which is not supposed to be happen to you as trader. Instead you must be patience and know how to control yourself and must not greed in money. Due to once you become like this for sure you will lose in the end.
Tradee should know to decide on their own, do proper research before following FUDs or making fake news, we should know to read the graphs and mastery on the coin we chose.
full member
Activity: 308
Merit: 128
February 03, 2018, 08:53:34 PM
#72
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

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 kevoh

  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



In addition to this traits are the following:

1. Discipline
Discipline is a key trait every trader needs. The market gives you infinite opportunities to trade. You can trade thousands of different products, every second of the day, yet very few of those seconds provide great trading opportunities.

2. Adaptability
Successful traders implement their strategies in all types of market conditions, and also know when they shouldn't use their strategies (for example, during a range if they use a trend following strategy). This requires mental flexibility. A trader must be able to look at the price action of each day and determine the best way to implement (or not implement) their strategies, based on the conditions that are present that day.

3. Mental Toughness
A trader must withstand a continual barrage of punches from the market. Losses are a fact of trading, but it's we how we act (not negatively reacting) after getting punched that makes all the difference. After getting punched, or taking losses, move on, and continue following your trading plan. If you are following your plan, but you just keep losing, market conditions likely aren't right for your strategy. In that case, walk away until they are. Sometimes being mentally tough means making the hard choice of not trading.

4. Independence
Initially, you'll likely get some help with your trading, whether it's from reading articles or books, watching trading videos, or receiving mentoring. Ultimately, though, it's you who will place your trades and determine your own success.

5.Forward-Thinking

Day traders can't be stuck in the past. While day traders use data from the past to help them make trading decisions, they must be able to apply that knowledge in real-time. Like a chess master, traders are always planning their next moves, calculating what they will do based on what their opponent (the market) does. As discussed in the adaptability section, the markets are not static. We can't say we will buy at a particular price in five minutes, and then ignore all the price information that occurs during that five minutes. Day traders are constantly planning their next action, based on new price information that is revealed every second. They consider different scenarios that could play out and then plan out how they will implement their trading plan (entries, stop loss, targets, trade management, position size) under each of those various conditions.



Most day traders aren't born with all these traits, rather they possess a few, and must work rigorously on the others. These traits can be learned, which is a great thing because it means successful day trading is determined by you, and not necessarily your genes. Some of us are prone to certain weakness, but these are often offset by strengths which can help us mitigate the damage of our weaker qualities. Wink Wink
Pages:
Jump to: