There's no such thing as a waste of time if you're investing it in useful learning. But newbies do tend to spend a lot of time on the non-critical aspects of trading. e.g.:
1. why is my deposit taking so long?
2. I should check the market again, maybe it's changed since the past 1/5/100 minutes.
3. Maybe there's some important news going on, lemme check.
If you've got a strategy, be disciplined and stick to it. Allow your trades to execute on the prices you set, allow stop/losses and take/profits to trigger. I fall into such time-wasting traps myself, just mindlessly looking at charts without taking notes or reading empty conversations in chatboxes. And getting excited at how close to my orders the prices are coming/going. It's human.
Topic: Don't Spend Too Much Time Trading? is that true? - page 42. (Read 17492 times)
it depends on what you mean by "spend time". wasting time for example is not proper way of spending it. and that's what most people do.
but if you spend time constructively by
studying the market,
analyzing the charts,
learning how to trade,
reading articles,
watching the movement on charts and thinking about reasons for each change
....
that would be a good thing.
some people even start "demo trading". if the platform allows that (crypto trading platforms rarely have this feature) then even better, but if not on paper or in an excel sheet. placing imaginary buys and then watching if they get filled, then placing imaginary sells and finally seeing if you could make profit.
all trading needs is experience. to know how things work and then acting fast.
I'm agree with you if spend time for learning something about trading then that should not wasting the time.but if you spend time constructively by
studying the market,
analyzing the charts,
learning how to trade,
reading articles,
watching the movement on charts and thinking about reasons for each change
....
that would be a good thing.
some people even start "demo trading". if the platform allows that (crypto trading platforms rarely have this feature) then even better, but if not on paper or in an excel sheet. placing imaginary buys and then watching if they get filled, then placing imaginary sells and finally seeing if you could make profit.
all trading needs is experience. to know how things work and then acting fast.
If you have spend much time and make many stupid mistake you should stop trade for a while and refresh your mind, I think this month many trader make mistake like sell in panic situation.
You can spend time but it should not be much that results to stress and lack of sleep during nigh time. Limit trades and set your time if you are a day trader. In my experience the more time you overspend looking at those charts the more emotional you becomes.
If you don't want to spend much time on trading then I will advise you to buy a bot that can trade on your behalf. Many traders are making a lot of coins using bot for trading and you can now have time for yourself.
i'm one who spend too much time for trading. I made so many stupid mistakes because of thinking emotionally instead of logically. 
what is your opinion?
what is your opinion?
Sometimes the best trade is no trade at all.
It is very difficult to predict the future, and we can make mistakes if we start feeling the pressure to sell or to buy, staying away helps to gain perspective.
This is not true providing you know the trading techniques and know when to buy/sell and from where to buy/sell. More you trade better will be your understanding and prospect to buy/sell frequently will yield you profits during the course of time. There may be few losses as well considering the price fluctuation which bitcoin go though but this should not stop you from trading as sometime it also goes in your favor.
i'm one who spend too much time for trading. I made so many stupid mistakes because of thinking emotionally instead of logically.
what is your opinion?
what is your opinion?
If you spend time analyzing the charts to prepare a trading strategy for the upcoming moves, that can be time well spent. At least if you actually stick to your analysis and follow through with your plans. If you just stare at the charts and start second guessing yourself at every minor move... that's time wasted.
If I know something is that you should never sell out of fear. Let's take for example the current situation with 1st august, everyone started selling because they thought there will be a chain split. The price reached almost 1800$ and then, BIP91 locked in and more news showing that SegWit will actually get activated soon, the price started increasing again at ~2800$.
Those who sold lost a lot of money (If they bought again) but that wouldn't happen If they only waited a little bit. If you are trading some pump and dump coins, the market could crash in a matter of seconds, instead, trade coins that worth it and you will definitely see results in the long term.
Those who sold lost a lot of money (If they bought again) but that wouldn't happen If they only waited a little bit. If you are trading some pump and dump coins, the market could crash in a matter of seconds, instead, trade coins that worth it and you will definitely see results in the long term.
it depends on what you mean by "spend time". wasting time for example is not proper way of spending it. and that's what most people do.
but if you spend time constructively by
studying the market,
analyzing the charts,
learning how to trade,
reading articles,
watching the movement on charts and thinking about reasons for each change
....
that would be a good thing.
some people even start "demo trading". if the platform allows that (crypto trading platforms rarely have this feature) then even better, but if not on paper or in an excel sheet. placing imaginary buys and then watching if they get filled, then placing imaginary sells and finally seeing if you could make profit.
all trading needs is experience. to know how things work and then acting fast.
but if you spend time constructively by
studying the market,
analyzing the charts,
learning how to trade,
reading articles,
watching the movement on charts and thinking about reasons for each change
....
that would be a good thing.
some people even start "demo trading". if the platform allows that (crypto trading platforms rarely have this feature) then even better, but if not on paper or in an excel sheet. placing imaginary buys and then watching if they get filled, then placing imaginary sells and finally seeing if you could make profit.
all trading needs is experience. to know how things work and then acting fast.
i'm one who spend too much time for trading. I made so many stupid mistakes because of thinking emotionally instead of logically.
what is your opinion?
Its not really bad on spending too much time on trading since there are are active traders which do really spend their times on doing trading. This would really depend on what kind of trader you are. The suggested thing on here is when you do know how to stop specially when your mind or brain is quiet tired on doing trading because once you are tired you cant execute trades properly which causes mistakes. which causes for us to lose up money. what is your opinion?
i'm one who spend too much time for trading. I made so many stupid mistakes because of thinking emotionally instead of logically.
what is your opinion?
what is your opinion?
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