-Indicator
-Money Management
-Emotion control
3 important things that must be considered for all traders. I keep using the indicators that I have learned to be able to analyze the market. and also sometimes see insights in TradingView to add other insights. all traders are required to be able to analyze the market using indicators. if they cannot analyze the market, of course it will be detrimental because they will definitely experience losses
Topic: Do you stick to your trading plans - page 3. (Read 657 times)
I am still zero experience in trading, always can't analyze really good and sometimes only follow what my friend trade. Honestly i can be more calm if have friend when stuck in a coin or maybe like, "he is stuck too, and i am not alone". Still trying to fix that because someday i must be can do trading alone with my own plans.
Start by learning how an indicator works and how it could tell you its time to buy and its time to sell. The very easy one to learn is the RSI which most traders are using. Its amazing how much you have spent time here but not trying to at least give a little experience. But since you have already bought and sold tokens, I supposed that a bit of an experience in the orderbook exchange.
- 1 power failure for developing countries
- 2 lack of internet access
When it comes to internet connection then this one would really make me get pissed when it comes to be unstable ones.You cant make out scallping due to jumping off prices due
or been affected with your connection.
Sticking out with your trading plans is a must but due to the behavior of this very unpredictable market then its just right for you to make back up plans.
And sticking to your trading plan is a good idea but with this high volatility market I think you have to adjust and adapt to the system rather than losing for no reason because you stick to your plan.
I always stick to my trading plan but sometimes when there are a lot of variation on the charts, I have to be flexible and improvised. Fortunately, I rarely do it thanks to being disciplined and follow strictly my path so only a small modify is needed whenever the market state slightly changed
stop loss is mandatory. You cant trade for a long time if you do not have the stop loss to protect yourself from unusual phenomenon
we must be dinamic when facing high volatility market, stuck on our trading plan make we will suffered lot loss. and i am agree with you , we must dicipline no matter what happen to our position in market. it could decrease risk alot and we will stay survive longer than traders didnt dicipline with their plan. stop loss is mandatory. You cant trade for a long time if you do not have the stop loss to protect yourself from unusual phenomenon
- 1 power failure for developing countries
- 2 lack of internet access
When it comes to internet connection then this one would really make me get pissed when it comes to be unstable ones.You cant make out scallping due to jumping off prices due
or been affected with your connection.
Sticking out with your trading plans is a must but due to the behavior of this very unpredictable market then its just right for you to make back up plans.
In as much as trading isn't gambling, we can only trade according to the trend and make a profit from it and as well withdraw once we get a reversal signal that the present trend is coming to an end.
Trading may be gambling once we don't use any analysis or even considerations, only paying for lucks in order to get profits from trading. Moreover, trading is not only about buying the dip and selling high, because we don't know how dip or how high the price will be in most percentages.
different factors might play out during their trades like:
These may be general conditions that not only inflicting trading or investing activities but also for other general activities.- 1 power failure for developing countries
- 2 lack of internet access
- 3 Intraday activities
In fact, making certain strategies in trading is very important. We can see how to work the strategy on the market condition at that time. The strategy may be developing depending on the market and also the situation of the crypto world.
I always stick to my trading plan but sometimes when there are a lot of variation on the charts, I have to be flexible and improvised. Fortunately, I rarely do it thanks to being disciplined and follow strictly my path so only a small modify is needed whenever the market state slightly changed
stop loss is mandatory. You cant trade for a long time if you do not have the stop loss to protect yourself from unusual phenomenon
stop loss is mandatory. You cant trade for a long time if you do not have the stop loss to protect yourself from unusual phenomenon
I don't trade a lot these days because I see that every single time, the market's fluctuation is higher than before. I'm sticking to my plan and that is to hold.
The no brainer strategy that has been so effective for everyone who doesn't like to trade at all from time to time. No need to exert that much effort into it yet very profitable.
The no brainer strategy that has been so effective for everyone who doesn't like to trade at all from time to time. No need to exert that much effort into it yet very profitable.
Higher market fluctuation/volatility also causes more losses for plebs like us. It’s not just a few plebs, MANY people in the forum, I believe gave up trading to HODL. It’s a more feasible strategy for us, the plebs. Let’s accept our plebness, and just HODL.
HODL is the key and there's no need for any strategy to be built as you hold. But for those that are liking to trade, it's fine as long as they know how to manage the risk that each of their trades have.
Yes! I do strict to my actual plan of trading, that is, "buy the dip". But this strategy at time test your patience. But to date I always got profit through this strategy. Always set a limit at which you wish to sell your coins and do not get greedy when the price is surpassing your set target.
You should really follow on the things you do had in mind when you are trading and we do have our own analysis that we do make everytime we do make out some trades so this would really vary on person to person on what are the levels that had been set for them to take out the profits.Its always been recommendable that you should set plans
rather than on just going for more because market is way too unpredictable and there's no way you can make out precise speculation from time to time.
If you do see yourself on profiting on your own way or method then better stick to it.
Sometimes I do get tempted when seeing unexpected new opportunities but if my technical analysis not showing anything like that then I will simply leave off that.
You sound like having plenty of experiences in crypto trading and because of that only you are able to leave off those opportunities which are happening outside of your technical. Have checked how much you might have gained or lost of you have gone for entering positions on those opportunities? Sticking within our trading plans is always good, but sometimes unexpected opportunities may lead to unimaginable profits as well.I am not saying trading without plan is good but you may trade even out of your technical part yet you go with stoploss. It means you are taking calculated risk which may go either side. If you catch 5 good trades out 10 unexpected trades, how will you rate your usual trading plans?
Sometimes, I stick to my trading plans, especially if the price is not moving well. But if the market moves fast, sometimes I break my plans just to make a profit. That works for me, but sometimes, I miss calculation or determine the right time because the market can not be predictable. But sticking to our trading plans will be necessary, so we do not get bigger loss and can still make a profit.
For some reason that it won't and it is usually depending on the market situation. But not very often to happen to me.
Plans are very important, not only in trading but even in our life. Our strategies must be in sync with our plan in order to succeed. Nevertheless, if we don't have a strong and positive mindset, everything will be useless. Yeah, we don't go far and reach our goal, and we are just wasting our time doing for nothing.
Plans are very important, not only in trading but even in our life. Our strategies must be in sync with our plan in order to succeed. Nevertheless, if we don't have a strong and positive mindset, everything will be useless. Yeah, we don't go far and reach our goal, and we are just wasting our time doing for nothing.
For the first time I tried to trade, I was just depend on my emotion or even just guessing like gambling. But after I got a huge lose then I realize that this thing is a bad idea and will just make me spend a huge lose like I play gambling.
After that, I looked for some ways to learn how to trade well at least I can trade without lose yeah that is the first time intention after I learn about trading strategy. But, during the time I can overcome and know some trading strategy especially technical analyst.
Until now, I still learning about trading strategy and buy as much as I can about trading book. Yeah I'm more comfortable to learn in the trading book than I learn in the some trading site. I realized now that the first time I traded is that I just stupid person who just trading without some knowledge.
After that, I looked for some ways to learn how to trade well at least I can trade without lose yeah that is the first time intention after I learn about trading strategy. But, during the time I can overcome and know some trading strategy especially technical analyst.
Until now, I still learning about trading strategy and buy as much as I can about trading book. Yeah I'm more comfortable to learn in the trading book than I learn in the some trading site. I realized now that the first time I traded is that I just stupid person who just trading without some knowledge.
Depends on the market situation but moving your position because of too much emotion is not good, so avoid this kind of transactions at all or else you'll burn your portfolio by yourself.
Sticking with your trading plan is fine as long as the market trend is in favor to you, either you're a long term or short term trader it is still advisable to monitor your holdings. I don't agree with the power interruption, mobile phone will works and most exchanges have their own Apps that enables you to trade where ever you are at any time.
Sticking with your plan is in my opinion the minimum that should be required for a successful trader, entering any market without any strategy is like going out to the bad part of the town screaming that you have with you all of your money, sooner or later someone will take your money, so it is important to device a strategy and verify that it works and once you do that then you need to follow it, the only exception to this is if you find another strategy that works better than the one you are currently using and you want to replace it. Sticking with your trading plan is fine as long as the market trend is in favor to you, either you're a long term or short term trader it is still advisable to monitor your holdings. I don't agree with the power interruption, mobile phone will works and most exchanges have their own Apps that enables you to trade where ever you are at any time.
Sometimes I do get tempted when seeing unexpected new opportunities but if my technical analysis not showing anything like that then I will simply leave off that.
I am happy that you are not going anything beyond your technical analysis. This shows how strong at your willpower so that you are able to stick within your trading plans. I guess you must be a trader with years of experiences. Because, I am simply unable to execute any of my plans as I am easily get distracted by market hype time to time.I believe traders need more practices so that they could play only within their plans. When traders are giving room for any of their emotions then they are simply moving out of trading plans. This has happened many times with me in crypto trading.
not all trading systems or plans work for all occasions. when those traders say the trend is your friend, always follow the trend. it's not about greedyness and emotion but it's about making money. when something is about to bubble because of popular individuals like Elon Musk and Mark Cuban tweeting about dogecoin, buy doge!! there is a reason why they are trying this coin to trend.
about the trending trading stretegy posted by big influencers. I would say that it is ok to follow their leads and sell off with profit. but not be very greedy and think that if that person is shouting out the project it'll increase because sometime things may go opposite of that.
I am still zero experience in trading, always can't analyze really good and sometimes only follow what my friend trade. Honestly i can be more calm if have friend when stuck in a coin or maybe like, "he is stuck too, and i am not alone". Still trying to fix that because someday i must be can do trading alone with my own plans.
You may not fix that if you stop following your friend right away. Because, if you are already making profits then you will never find time to learn basics of crypto trading which includes technical analysis and risk management. I mean there are lots of things left for you to get yourself trade alone. Hence, if you start today then you may be successful after a year of time.But, I am sure people who are comfortable with other's signal never find time and efforts to trade themselves. Moreover, I am sure that your profit level and your friend' definitely will not be same.
I am still zero experience in trading, always can't analyze really good and sometimes only follow what my friend trade. Honestly i can be more calm if have friend when stuck in a coin or maybe like, "he is stuck too, and i am not alone". Still trying to fix that because someday i must be can do trading alone with my own plans.
Honestly, to tell you the truth, it's often difficult sticking to one's plan when it comes to taking profit. Traders are often tempted to push earlier proposed targets, especially when the candles get engulfed in bullish rally. We often think the momentum will get sustained and as such leave it open. Sadly, most times this has proved to be a bull trap.
On the actual entry, I do stick to my trading plan on that. It's better to target getting in at low level than actually thinking of profit level. This is why SL is more valuable for professional traders than TP.
On the actual entry, I do stick to my trading plan on that. It's better to target getting in at low level than actually thinking of profit level. This is why SL is more valuable for professional traders than TP.
Yes! I do strict to my actual plan of trading, that is, "buy the dip". But this strategy at time test your patience. But to date I always got profit through this strategy. Always set a limit at which you wish to sell your coins and do not get greedy when the price is surpassing your set target.
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