Essentials for Traders - page 6. | Bitcointalksearch.org

farosa

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1 & 0 😏

Quote from: creeps on March 21, 2018, 11:32:04 PM

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.

In my opinion, experience is also. Well, with the money and knowledge, you're not a trader. You should apply your knowledge, as a time goes, you will develop more. The mistakes will make you as a trader.

geteks

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Nice post! In addition, emotional mastery is needed, because one of the most difficult aspects of being a successful trader in the crypto market is knowing the basics of sticking to the strategy during times of price turmoil. This is a serious problem in the crypto market due to the volatility of cryptocurrency.

logicgate

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Quote from: geteks on August 16, 2018, 11:05:56 PM

Nice post! In addition, emotional mastery is needed, because one of the most difficult aspects of being a successful trader in the crypto market is knowing the basics of sticking to the strategy during times of price turmoil. This is a serious problem in the crypto market due to the volatility of cryptocurrency.

During price turmoil we have to follow good strategy so that we may not get hurt by any decision which may not suit the market conditions. Getting updated with the market conditions will remove all your queries only if you have knowledge of the market and basic knowledge as well which provides a path for you so that you successfully walk on it towards your destination.

TimeTeller

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Quote from: pandanaran on May 27, 2018, 02:12:09 PM

Quote from: creeps on March 21, 2018, 11:32:04 PM

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 think those three things are indispensable not only in trading but in many things, the problem is how to do it especially on knowledge, most of them can not implement it when they know that 3 things are very in need.

Those are basic things to consider before investing on anything, even not in crypto.
I like point #2 - don't depend to anyone. You need to do your due diligence.
You are alone in this battle. No one will help you in trading. They will give you pieces of advice but that's it.
But for #3 -actually FUD sometimes help. Just like what others said. You need to learn how that works in trading.
Every coin or token is different. You should study first the trend's behavior when fud happens. But that's only a guide.
It might not work on your next target. So be alert in the trading world. You need a lot of time, patience and understanding if you want to be a real trader.

kent47400

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Quote from: Andrey123 on March 22, 2018, 01:52:17 AM

Patience is a matter of course.

but I feel patience is the key that is most powerful for a person's life to achieve success.

we can see if people trade "without patience" then all the capital will run out.
and it causes a feeling of greed.

pandanaran

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Quote from: creeps on March 21, 2018, 11:32:04 PM

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 think those three things are indispensable not only in trading but in many things, the problem is how to do it especially on knowledge, most of them can not implement it when they know that 3 things are very in need.

andriarto

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Quote from: Granxis on March 25, 2018, 06:12:47 AM

Quote from: zhekinsp on March 22, 2018, 02:19:49 PM

The real essentials for a crypto trader is combination of good investment with well expericence and little bit of luck to make money in crypto trading,since the profit from crypto trading is actually loss of other trader so you need to be luck too to get money.But trading will not suit for everyone and trading will not much effective as much as holding.

There is no chance factor in trading, people who do not trade with a certain method can lose money. I do not know anybody who has earned money by doing random trading before.

i think in trading we have to analyze the biggest opportunity, because there is no definite formula. then we should find the lowest price to enter market and release it at highest price. to be like that we must have good trading skills

Reid

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Mostly new traders have their good amount for capital and yet they lose it in just a short run.
I guess they have also picked the wrong token.
They dont want bitcoin cause its too expensive. They go to cheaper coins like cents of a dollar per token and not knowing it will justgo to waste.
Experienced this when I was at Yobit. Good thing Binance now dont just accept tokens which are trash and they make them pay large amounts to see how legitimate they are.

mronezigger

newbie

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i accept the fact,but also,money management is also essentials for traders,day trading requires money management because it will help you not to stay long in trading thereby not entering into bad trends of markets.

myworkstrade

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Discipline, if you have discipline you will not lose. If you have plan you will follow your plan if you have goals you obey all the rules you made because you have discipline in trading and you know the consequences if you don’t follow your rules. I am agree with your pointers you just add discipline and determination and love what you do, its not inly for money you just need to enjoy what you are doing and have a risk management when you do trading like they said practice makes perfect but I don’t belive it. I only believe is practice until you succeed never quit and focus. Good luck

Granxis

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Quote from: zhekinsp on March 22, 2018, 02:19:49 PM

The real essentials for a crypto trader is combination of good investment with well expericence and little bit of luck to make money in crypto trading,since the profit from crypto trading is actually loss of other trader so you need to be luck too to get money.But trading will not suit for everyone and trading will not much effective as much as holding.

There is no chance factor in trading, people who do not trade with a certain method can lose money. I do not know anybody who has earned money by doing random trading before.

Leonard2016

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I'm agree with you , Capital is the most important thing , and if you are rich enough you can be patient too because you don't care how down coins go!

bitcad4u

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Quote from: creeps on March 21, 2018, 11:32:04 PM

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.

You are right.This are the essential one for the trading.Without the capital need for your inversment ,you can't start a trade.
If you had start a trade without the knowledge of trading,you will lose your money invested in trading.
If you don't have patience in trading,you will lose the invested money.If you have patience means,you will gain a lot from the investment.

breathlessz

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Trphy.io

Quote from: BitcoinCommodor on March 24, 2018, 01:30:18 AM

Quote from: Andrey123 on March 22, 2018, 01:52:17 AM

It's all useless.
Without money, there is no trade.
Patience is a matter of course.

Experience will come only when you lose $ 10,000.
And if after that you can not learn himself, then it's not yours.

Give the idiot 1 million and he will lose it, and who knows how to trade with 1 dollar this million will do.

Not really man, but you’re also right. I don’t fully support the one of having patience cause sometimes, holding on does more damage than letting go. So if you can’t trade with $1, if you are given a million dollars you will still end up losing all of them, no matter the amount of patience you have.

beside having patience we must more trading exercise to get more experince too. in trading i think capital and patient is not first factor to consistent trader. but from experience and learning by mistake is make tough trader

BitcoinCommodor

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Quote from: Andrey123 on March 22, 2018, 01:52:17 AM

It's all useless.
Without money, there is no trade.
Patience is a matter of course.

Experience will come only when you lose $ 10,000.
And if after that you can not learn himself, then it's not yours.

Give the idiot 1 million and he will lose it, and who knows how to trade with 1 dollar this million will do.

Not really man, but you’re also right. I don’t fully support the one of having patience cause sometimes, holding on does more damage than letting go. So if you can’t trade with $1, if you are given a million dollars you will still end up losing all of them, no matter the amount of patience you have.

Oasisman

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Before anything else, when youre new in the field ofcourse you need Capital or money to start trading and of course what you comes first in mind is to gain profit. Then next will be learning the basic for you to be able to engage in trading. Then that for sure you'll lose certain amount from your capital, then you will learn from your experience. After learning from your experience, you can now insert the "Equip yourself with enough knowledge" and "Patience". This sequence will probably always happen to most of the experienced trader.

entrepmind23

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Quote from: creeps on March 21, 2018, 11:32:04 PM

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.

Obviously you cannot trade without capital. The problem with this one is that when some people heard that trading cryptocurrency is profitable, they would think of getting involved too and sometimes they even borrow some money to be use as capital. Borrowing for capital is a big no especially if you are just learning to trade.

Quote from: creeps on March 21, 2018, 11:32:04 PM

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.

Learning the basics of trading is important. There are so many trading resources out there and some people cannot even do a simple research what is the meaning of bull and bear market. Do not be afraid to lose because you will learn more when you lose. It is more satisfying being in profit because you made the right move and it is in your plan than being in profit because you got lucky.

Quote from: creeps on March 21, 2018, 11:32:04 PM

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.

It takes time to have some patience in this market. When you are equipped with knowledge then you will be able to control your emotions since you have an idea of what to do whatever happens. If you have a trading plan, knowing when to enter and exit a trade, it is a big help to be patient and wait for the right time. One of the major mistakes of traders is panic buying or selling because they are impatient.

giarised

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This makes quite some sense. I believe you need capital first, after you might have gotten the capital you can then seek for the knowledge that is required in trading. As for patience, uhm… I don’t know if I would really consider that option when I’m on steady lose. Patience is good anyway, but if you keep on losing on a steady basis, I don’t see no reason to consider Patience anymore, all you have to do is quit and go and seek for a solution to your problem.

Johnyz

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Quote from: zhekinsp on March 22, 2018, 02:19:49 PM

The real essentials for a crypto trader is combination of good investment with well expericence and little bit of luck to make money in crypto trading,since the profit from crypto trading is actually loss of other trader so you need to be luck too to get money.But trading will not suit for everyone and trading will not much effective as much as holding.

Trading might not be good for everyone even if they know how to do this simply because they cannot control their emotion. This might be helpful for those who wants to become a trader who think its easy to do so. Just keep on pushing yourself to the fullest so you can maximize this opportunity.

stomachgrowls

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Quote from: Andrey123 on March 22, 2018, 01:52:17 AM

It's all useless.
Without money, there is no trade.
Patience is a matter of course.

Experience will come only when you lose $ 10,000.
And if after that you can not learn himself, then it's not yours.

Give the idiot 1 million and he will lose it, and who knows how to trade with 1 dollar this million will do.

When it comes to bankroll or capital differences there would really be things which do big amounts will always have the edge since we do know that we can able to extent or adjust our position since we do have the big funds to trade on. Money is really the key on here for us to trade no money then there would be no trade.We know this is an investment on where money would be always present.Losing out money cant really be avoided as long we do gain experience and learnings.

Topic: Essentials for Traders - page 6. (Read 13886 times)