Essentials for Traders - page 4. | Bitcointalksearch.org

gantez

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Quote from: creeps on March 22, 2018, 12:32:04 AM

Trading is risky in every market and if you are not well prepared you might ended up losing money.
Here's some example of the skills and things that you must have before you start trading:

1. Capital - Amount that you are willing to lose and you might don't need in the next 6mos. If you want good amount of profit, you can start with a higher capital but since you are just newbie start with small and invest big later on.

Although that you said it in the last part of your sentence, it is very advisable to start trading with small capital, this will help you learn more because of the small money there. You won't have so much fear with small capital and with time, your expertise and confidence will increase.

btc_angela

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Quote from: Thanasis on March 30, 2019, 10:26:20 AM

Quote from: Distinctin on March 30, 2019, 02:24:30 AM

Quote from: Nifflerco on March 29, 2019, 09:43:08 PM

In most cases markets start pumping after people lose hope and sell. It's just a never ending cycle.

That's the trend that only few have noticed.
Experts said that we should not panic when the price dump, they said we should buy the dip and sell the bottom, and be greedy when people panic.

Trading is like an art,so everyone can't be a Picasso in it only the people who can handle all the trades and manager much kind of trading patters will get profits.If everyon want to make profits then it is impossible because profits came form loss of another one.

I like how you put it. For me it's a journey, like you start being young unexperienced and then you grow up to learn a lot from your past mistakes and became a better man/trader. And it's not like you suddenly grow overnight learn to trade and became successful.

Thanasis

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Quote from: Distinctin on March 30, 2019, 02:24:30 AM

Quote from: Nifflerco on March 29, 2019, 09:43:08 PM

In most cases markets start pumping after people lose hope and sell. It's just a never ending cycle.

That's the trend that only few have noticed.
Experts said that we should not panic when the price dump, they said we should buy the dip and sell the bottom, and be greedy when people panic.

Trading is like an art,so everyone can't be a Picasso in it only the people who can handle all the trades and manager much kind of trading patters will get profits.If everyon want to make profits then it is impossible because profits came form loss of another one.

hyunee

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Quote from: creeps on March 22, 2018, 12:32:04 AM

1. Capital - Amount that you are willing to lose and you might don't need in the next 6mos. If you want good amount of profit, you can start with a higher capital but since you are just newbie start with small and invest big later on.

I like the amount that a person is willing to lose. That phrase could be applied also in trading.

Quote from: creeps on March 22, 2018, 12:32:04 AM

2. Knowledge - You must equip yourself with this thing and keep on learning because in trading you can learn even you lose money. You must know how to execute the basic, buy and sell and study more about the charts, don't depend to anyone.

It's true that you need to read a before you try trading or even though you're trading, being knowledgeable in trades is very essential.

Quote from: creeps on March 22, 2018, 12:32:04 AM

3. Patience - You must be more patient in this kind of market, there's no room for your emotion here and your trading decision must really based on your study and not on any FUD news.

Being driven by emotions doesn't have any place in trading. If you continue having this kind of mentality then it will be the end of you in trading.

michellee

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Quote from: Distinctin on March 30, 2019, 02:24:30 AM

Quote from: Nifflerco on March 29, 2019, 09:43:08 PM

In most cases markets start pumping after people lose hope and sell. It's just a never ending cycle.

That's the trend that only few have noticed.
Experts said that we should not panic when the price dump, they said we should buy the dip and sell the bottom, and be greedy when people panic.

That is what people should do regards of the price dump but the reality, many people still panic, and they think that the price will still down. We still cannot make a better decision when the price is down, and we decide to sell some amount to prevent a big loss. But if we can stay calm, we will use the moment to buy more. So we need to maintain our emotion don't panic when the market is down.

Distinctin

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Quote from: Nifflerco on March 29, 2019, 09:43:08 PM

In most cases markets start pumping after people lose hope and sell. It's just a never ending cycle.

That's the trend that only few have noticed.
Experts said that we should not panic when the price dump, they said we should buy the dip and sell the bottom, and be greedy when people panic.

Nifflerco

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Quote from: Altero on March 29, 2019, 06:46:47 PM

Quote from: BUK2016 on March 29, 2019, 05:56:46 PM

How to control one emotion is very important when it come to trading and one of the way to control emotion is by strictly follow your money management policy which you have sent before the commencement of the trade.

If have a long engagement in trading, we can learn on how to control our self emotion and even can decide what is right and what is wrong. We mostly have that problems(decision making) especially during the times of bearish season. People will get bored (patience) and even thinking to sell their coins(worries) earlier before it dumps hard, but they'll might be wrong with their perceptions and possible regrets after(blaming).

In most cases markets start pumping after people lose hope and sell. It's just a never ending cycle.

Altero

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Quote from: BUK2016 on March 29, 2019, 05:56:46 PM

How to control one emotion is very important when it come to trading and one of the way to control emotion is by strictly follow your money management policy which you have sent before the commencement of the trade.

If have a long engagement in trading, we can learn on how to control our self emotion and even can decide what is right and what is wrong. We mostly have that problems(decision making) especially during the times of bearish season. People will get bored (patience) and even thinking to sell their coins(worries) earlier before it dumps hard, but they'll might be wrong with their perceptions and possible regrets after(blaming).

Nifflerco

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I would also add that it's worth to try simulated trading too. Many people think that it's easy to perform well on simulated exchange, but reality of the situation is that same principles apply and it's not that easy. As the co-founder of simulated cryptocurrency exchange I can tell that we have bunch of users and very little % are actually successful.

Main benefit is that newbie trader soon realise how volatile this market is, especially if you making transition from FOREX trading.

Just my two cents, but I think that if you can not perform well on a simulator, you should never go and trade with real money. Same as none of us would feel comfortable flying a plane with a pilot who keeps crashing in the pilots simulator.

P.S. Recently we have launched a rewards program, so you can spend your play dollar profits on rewards.

BUK2016

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How to control one emotion is very important when it come to trading and one of the way to control emotion is by strictly follow your money management policy which you have sent before the commencement of the trade.

yecats

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Quote from: creeps on March 22, 2018, 12:32:04 AM

Trading is risky in every market and if you are not well prepared you might ended up losing money.
Here's some example of the skills and things that you must have before you start trading:

1. Capital - Amount that you are willing to lose and you might don't need in the next 6mos. If you want good amount of profit, you can start with a higher capital but since you are just newbie start with small and invest big later on.

2. Knowledge - You must equip yourself with this thing and keep on learning because in trading you can learn even you lose money. You must know how to execute the basic, buy and sell and study more about the charts, don't depend to anyone.

3. Patience - You must be more patient in this kind of market, there's no room for your emotion here and your trading decision must really based on your study and not on any FUD news.

This 3 things can help you a lot on your journey, don't just focus on money make time for you to learn more and profit will come later.

Besides from Knowledge and Capital is the most important Emotions because there are a lot of traders especially newbie in trading are so emotional when it comes in winning and loosing in trading.

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Quote from: creeps on March 22, 2018, 12:32:04 AM

1. Capital - Amount that you are willing to lose and you might don't need in the next 6mos. If you want good amount of profit, you can start with a higher capital but since you are just newbie start with small and invest big later on.

I am of the opinion that the person should take $50 to practice and have at least 1 BTC to do trade and have some decent profit

Quote from: creeps on March 22, 2018, 12:32:04 AM

2. Knowledge - You must equip yourself with this thing and keep on learning because in trading you can learn even you lose money. You must know how to execute the basic, buy and sell and study more about the charts, don't depend to anyone.

this is the most important thing, although the technical analysis hardly works in this crypto market

Quote from: creeps on March 22, 2018, 12:32:04 AM

3. Patience - You must be more patient in this kind of market, there's no room for your emotion here and your trading decision must really based on your study and not on any FUD news.

true, but the person must be very attentive so as not to lose money, depending on the news you can see falls of prices very frightening, so the person should stay alert and must follow the news

el kaka22

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I think learning by trading is a good option. I mean you can't just read stuff and expect to be a good trader, of course if you read other successful people you will start 1-0 ahead of the person who just goes into trading without knowing anything but just reading wouldn't be enough for you. A trader is literally someone who trades and without trading you can't really become a trader, so in order to be good you first need to start trading and seeing how it all works from inside.

I have known about the technical stuff for years but my real trading started after the 2017 peak because when it started to go low I realized this is my chance, bitcoin is low once again and we know it can reach to $20k because it already did and it could do it again so it felt like a safe zone where I can trade and know that one day if I fail and lose money I could recoup it when bitcoin went up again.

raven7886

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Quote from: prtty2gal2 on March 28, 2019, 12:26:47 PM

Quote from: CoinChili on March 26, 2019, 02:41:01 AM

This three things are the main steps to become successful in trading. If i may add, less greed will also lead to more favorable result.

Yep, these three are very important and you also need to have independent thinking and not just taking whatever people say. Do make your own research too. Next is that anyone who is a traders needs to have team working ability, physical and mental stamina. And lastly, patience, as the up has said. Having is very important when it comes to trading.

Probably the person that said so is not a trader and doesn’t even understand a bit about trading because if he does, he will understand that every point the OP has mentioned is vital which is even still small compared to other things that are very necessary to make a trade successful or make one be a professional trader.

There is no professional trader that has not once or twice in their life lost money but what makes it less painful is that they trade with amount they can easily afford to lose though no hard earned money is really that easy to lose except one is extremely rich but at least the one that will not make one to be too heartbroken.

GreatArkansas

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Quote from: cryptoblue77 on March 27, 2019, 09:05:43 PM

Experience is the mother of knowledge. Start with an amount that you can afford to lose and practice real trading, as the time passes you would gain experience and that would be very useful in future trading.

This could be the best for beginners in crypto, I also learned this before I started crypto, I have many mistakes made. Especially when the time I started to trade, I didn't learn also the risk management, it is really good to start in a small amount and that small amount is good for practice how to trade and practice how to do the technical analysis and that will lead to your success in trading, step by step.

nydiacaskey01

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Whats essential are those tools in trading like Bollinger Bands that helps you decide if the trend will continue or its about to end. RSI and Parabolic SAR are good tools too that I use when I trade. When I started in trading, I use nothing but emotions, gut feeling but after loosing a lot already, I started to look the other way and study using those tools and I find it very helpful.

rizkyhiw

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Quote from: sinta23 on March 28, 2019, 03:10:44 PM

Quote from: jems on March 28, 2019, 02:44:58 PM

Quote from: creeps on March 22, 2018, 12:32:04 AM

Trading is risky in every market and if you are not well prepared you might ended up losing money.
Here's some example of the skills and things that you must have before you start trading:

1. Capital - Amount that you are willing to lose and you might don't need in the next 6mos. If you want good amount of profit, you can start with a higher capital but since you are just newbie start with small and invest big later on.

2. Knowledge - You must equip yourself with this thing and keep on learning because in trading you can learn even you lose money. You must know how to execute the basic, buy and sell and study more about the charts, don't depend to anyone.

3. Patience - You must be more patient in this kind of market, there's no room for your emotion here and your trading decision must really based on your study and not on any FUD news.

This 3 things can help you a lot on your journey, don't just focus on money make time for you to learn more and profit will come later.

I agree with you when you speak, don't just focus on money, basically I think trading is not only with money but also with strategies and strategies that will be governed by knowledge. So all the factors that you mentioned earlier are interconnected and will make us a successful trader.

in the world of crypto patience it is very important to get the desired results because like trade and investment in order to get a big profit you must have great patience and confidence too

Don't forget that patience must be based on good knowledge because it will be very decisive in the future, sometimes people who are very emotional are people who do not understand the market scheme and what must be done to become investors or traders, money is no guarantee of being rich but how we manage everything and don't consider it easy what is considered to be just a big advantage, that is a very wrong thought.

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Quote from: jems on March 28, 2019, 02:44:58 PM

Quote from: creeps on March 22, 2018, 12:32:04 AM

Trading is risky in every market and if you are not well prepared you might ended up losing money.
Here's some example of the skills and things that you must have before you start trading:

1. Capital - Amount that you are willing to lose and you might don't need in the next 6mos. If you want good amount of profit, you can start with a higher capital but since you are just newbie start with small and invest big later on.

2. Knowledge - You must equip yourself with this thing and keep on learning because in trading you can learn even you lose money. You must know how to execute the basic, buy and sell and study more about the charts, don't depend to anyone.

3. Patience - You must be more patient in this kind of market, there's no room for your emotion here and your trading decision must really based on your study and not on any FUD news.

This 3 things can help you a lot on your journey, don't just focus on money make time for you to learn more and profit will come later.

I agree with you when you speak, don't just focus on money, basically I think trading is not only with money but also with strategies and strategies that will be governed by knowledge. So all the factors that you mentioned earlier are interconnected and will make us a successful trader.

in the world of crypto patience it is very important to get the desired results because like trade and investment in order to get a big profit you must have great patience and confidence too

jems

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Quote from: creeps on March 22, 2018, 12:32:04 AM

Trading is risky in every market and if you are not well prepared you might ended up losing money.
Here's some example of the skills and things that you must have before you start trading:

1. Capital - Amount that you are willing to lose and you might don't need in the next 6mos. If you want good amount of profit, you can start with a higher capital but since you are just newbie start with small and invest big later on.

2. Knowledge - You must equip yourself with this thing and keep on learning because in trading you can learn even you lose money. You must know how to execute the basic, buy and sell and study more about the charts, don't depend to anyone.

3. Patience - You must be more patient in this kind of market, there's no room for your emotion here and your trading decision must really based on your study and not on any FUD news.

This 3 things can help you a lot on your journey, don't just focus on money make time for you to learn more and profit will come later.

I agree with you when you speak, don't just focus on money, basically I think trading is not only with money but also with strategies and strategies that will be governed by knowledge. So all the factors that you mentioned earlier are interconnected and will make us a successful trader.

prtty2gal2

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Quote from: creeps on March 22, 2018, 12:32:04 AM

This 3 things can help you a lot on your journey, don't just focus on money make time for you to learn more and profit will come later.

Funny how someone can say that op’s points are useless Grin

. If you don't calculate yourself properly when it comes to trading, you will just be losing. You have to know that there is a risk you will be taking ahead as you start trading, so you need to mind the capital you're starting and know how much you should trade and that should be an amount you're ready to risk. Yes there is profit, but you should also be prepared for the risk that can as well follow.

Quote from: CoinChili on March 26, 2019, 02:41:01 AM

This three things are the main steps to become successful in trading. If i may add, less greed will also lead to more favorable result.

Yep, these three are very important and you also need to have independent thinking and not just taking whatever people say. Do make your own research too. Next is that anyone who is a traders needs to have team working ability, physical and mental stamina. And lastly, patience, as the up has said. Having is very important when it comes to trading.

Topic: Essentials for Traders - page 4. (Read 13870 times)