Without a good trading strategy and understanding the market, everything else is not essential.
Trade is work, like any other.
If a person is quick-tempered and not balanced, then he can not work anywhere.
There are no characteristics, you either know how to do it, or you do not know how.
There is no third.
And all the books about psychology, self-discipline are complete nonsense!
Topic: Characteristic of trader - page 5. (Read 853 times)
This thread is very useful to all trader and ofcoarse to the newbie in trading. Because they can know what they need characteristics if they start trader. For me the first characteristics to be learn in newbie is PATIENCE because if you have that you can wait the price to increade and after that for sure you can make profit. Don't be greedy because sometimes being greedy the result is bad . So if you think the profit is enough it is okay.
Trading is surely one of the difficult thing to do in this world when it comes to that of earning of money. However, if you manage to learn the trick of becoming a successful trader, then making of a huge amount of money will the easiest thing to do for you using your skillset and expertise. Traders have this quality of having a huge amount of knowledge as well as power of controlling their emotions all the time. Well i think all of the characters above are available on all of the human, 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 from trading. In trading we need more control on our emotions, there are some people said that we need to know about the psycology of trading.
Yes all of the character is in all human but how we can learn how to control it.
Successfull trader not only depend on their skill but psychology too as trader. Control emotion, dont greedy and more like mention above.
Nice thread, its a big help to those who don't have enough information how to prevent loses in doing trading , and also all things that required to be a good trader is attached already this thread . Good time to add some strategy and also this is good to those newbie who lack of information and want to enter in trading.
This is really inspiring and quite lively that people on this forum intend to help each other or one another in the best possible way from the core of heart. Such threads should be made quite often because they are very helpful for newcomers. Newbies are usually experiencing losses because of wrong directions they following or lack of guidance. Being trader is not an easy thing and it is moral duty of experts to help newbies. 
Traders are those optimistic people who sees thing in a positive outcome despite any setbacks they may encounter. For you to become a successful traders you must be willing to take a risk but should be confident enough in choosing your target market. You should also be patience not all the time is a winning situation neither losing. Traders study their market and willing to learn everything to succeed in their chosen fields.
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
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.
Good read. I agree with the characteristics you cited, but I would like to add some. You should also be knowledgeable. It is a very critical character because if you have ample knowlege, you won't be easily tricked into going for trades and deals that may seem good on the onset, but would amount to virtually nothing in the end. You also have to be brave; you can't be afraid after a loss. You should keep at it because one should know that there are times that even you prepared for every possible outcome, bad luck still strikes.
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.
From my point of view, I personally suppose that there are many factors which is necesarry for all of us to do good for trading. However, there are three factors basically help us most. The first I think that KNOWLEDE is the most important. We all know that when we have trading for something, we should prepare time for learning or enrich our knowledge foremost and maybe it requires you much more time. The second is EMOTION. Well, you all know that trading in crypto currencies, you have to face with many troubles through its extremely volatile. You must keep your head , be patient in anytime ,especially you’d control your emotion, which will help you a lot to trade for a long term. The last one is ANALYZING. To know whether you should or shouldn’t do, you must read and read currently the information updating through the internet, which helps you to analyze well and make an accurate decision. 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.
After very long time I’m seeing very good thread with quality answers, wow merit system does work I belive.
Got more attracted to the answers and kept reading through all of you and looks like engaging discussion.
Moreover we can also look for some good blogs, I would suggest steemit community which gives us extensive information gathered from all over so you can easily work out the math.
That’s not a characteristic but a way to approach to trades in professional way, the studying! That’s important too.
Nice post OP.
Got more attracted to the answers and kept reading through all of you and looks like engaging discussion.
Moreover we can also look for some good blogs, I would suggest steemit community which gives us extensive information gathered from all over so you can easily work out the math.
That’s not a characteristic but a way to approach to trades in professional way, the studying! That’s important too.
Nice post OP.
Thanks for your support. Steemit also good source to learn how to trading and dont forget youtube. Learn from video is more easier.
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.
- 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.
Thanks for your post. Borrowed money is very dangerous money that we will use for trading. All know we need money, small or big amount at least we are ready to loss it.
Well i think all of the characters above are available on all of the human, 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 from trading. In trading we need more control on our emotions, there are some people said that we need to know about the psycology of trading.
Yes all of the character is in all human but how we can learn how to control it.
Successfull trader not only depend on their skill but psychology too as trader. Control emotion, dont greedy and more like mention above.
To keep it short a trader must be highly composed on what he is doing. Composure is really important as it will be the one that will make you stick to your plan or strategy without you losing focus by its price action or FUD you are seeing. Also without being composed you will most likely not think about your plans anymore as you will be in a state of panic, instead of being in that stage you must now be prepared for your contingency plans as any good trader has one for any of their plans.
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.
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.
Well i think all of the characters above are available on all of the human, 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 from trading. In trading we need more control on our emotions, there are some people said that we need to know about the psycology of trading. 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.
Overall a trader should be smart to be able to do the right strategy to be successful.
The reality is that there are a lot of trials along the way and especially if you are new you tend to make a wrong decision as inside you,
you haven't build the right confidence yet, but eventually if you stay positive you will definitely improve.
You're totally correct mate because everything about crypto base on time/season and if crypto trader is not greedy, patient, not doubt, confidence and not panic but not smart he/she won't the right decision at a pointing time and it will be like people are stealing his/her idea. The reality is that there are a lot of trials along the way and especially if you are new you tend to make a wrong decision as inside you,
you haven't build the right confidence yet, but eventually if you stay positive you will definitely improve.
IMO, a trader should at least be rational in order to keep a clear mind when trading. It is so to not make any reckless trades when market is not in their favour.
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.
I think we should be able to understand some characteristics of traders when we will become a trader, doubtless character and greed is not good because it will only produce a minimal profit. we need to focus and be confident to become a trader because our work is not only about money but also about the best sales and the highest profit.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.
Patience: If you have patience then automatically rest of the points you will follow. Patience will reduce your greediness, and it will not let you do any panic sell or buy and if you want to buy any coins you will do a lot of research and suppose if your coins price come down you will not lose your confidence.
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.
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.
It's very helpful, one more knowledge for people like who who still learn about trading. I have different opinion, for me, we can say greedy, panic, doubt is just we can't control our emotion. Your post is look's like human nature, always been there and will never gone. If we can control our emotion I believe your list will never happen, meaning we have disciplines and focus to grow up capital not for make profit. Thank you for post.
I always follow these two rules so as not to lose a lot of money:
1- The more money there is in the account, the easier it is to trade. If you lose $10 when you have $1,000 in your account, you will not be particularly upset and will continue as planned. But if there is only $50 in your account, this could be unsettling and lead to mistakes and loss of the entire account. Not to mention the fact that in the first case there are 100 attempts to correct the situation, and in the second - only 4. It's simple arithmetic
2-Determine your maximum losses per day. For example, 15% of your capital. Once you reach the limit, stop trading no matter how "tasty" the situation on the market seems. Even if you think you see the trade of the century! Such premonitions are really mirages.
1- The more money there is in the account, the easier it is to trade. If you lose $10 when you have $1,000 in your account, you will not be particularly upset and will continue as planned. But if there is only $50 in your account, this could be unsettling and lead to mistakes and loss of the entire account. Not to mention the fact that in the first case there are 100 attempts to correct the situation, and in the second - only 4. It's simple arithmetic
2-Determine your maximum losses per day. For example, 15% of your capital. Once you reach the limit, stop trading no matter how "tasty" the situation on the market seems. Even if you think you see the trade of the century! Such premonitions are really mirages.
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.
I think we should be able to understand some characteristics of traders when we will become a trader, doubtless character and greed is not good because it will only produce a minimal profit. we need to focus and be confident to become a trader because our work is not only about money but also about the best sales and the highest profit. 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.
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.
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.
Additionally I want to say that you are not alone in trading,First of all you need to understand market psychology,There are a lot Market Moviers and you must predict their steps.Read more about 'macd',technical analysis and don't make decisions emotionally.And the main factor,don't panic because inflation is a phenomenon that everyone experiences, at least, once in life.but you must define what is the boundary between inflation and deflation for you and don't think about that you will win millions in several days,Just try to creat stable portfolio with 2-4% income in month.
In the trading field it is always risky and unexpected so you should prepare your weapon and bullets before you enter the battle. If you have less knowledge and experience of trading it is likely you will get burn easily, so it should better if you learn more about of trading and that list of OP is one of most example before we enter into trading.
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