Getting Used to The Market Situation is The Key to Becoming a Reliable Trader.

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Quote from: South Park on February 15, 2022, 01:34:00 PM

Quote from: seleme on February 07, 2022, 03:22:49 PM

Not knowing what you are doing is like recipe for disaster, the more you swim on the ocean the more swimming skills you will get to go with the flow or not. Having a working trading strategy is not enough on this volatile market, you have to make your decisions according to the trading plan and never chase your losses. Cutting loss is the key here and you have to be patient to take profit if the bear market takes so long. In your situation, you have to wait for the higher price levels and put the limit orders above the key resistance points instead of selling early.

Chasing losses is probably the number one reason why people lose money in the markets, most people have a decent strategy when it comes to trading the markets, however when it comes to applying that strategy that is when people fail, after all they see that their trade of which they had high hopes begin to go against them and instead of simply selling and accept the small loss they keep holding thinking that things will turn around, but they do not and if they were using leverage they run the risk of getting a margin call and their position being closed forcefully.

Just like in gambling then if you do chase your losses or trying to break even or trying to recover losses would be the biggest mistake that you could have which you should really be aware on that kind of behavior

which could really cause for you to commit out mistakes just because you do really let yourself get minded of on how to recover immediately.If you do tolerate out that emotion of yours then you would definitely
be having some problems later on which could cause even more losses on the time that you would be having a hard time on accepting it.

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Quote from: seleme on February 07, 2022, 03:22:49 PM

Not knowing what you are doing is like recipe for disaster, the more you swim on the ocean the more swimming skills you will get to go with the flow or not. Having a working trading strategy is not enough on this volatile market, you have to make your decisions according to the trading plan and never chase your losses. Cutting loss is the key here and you have to be patient to take profit if the bear market takes so long. In your situation, you have to wait for the higher price levels and put the limit orders above the key resistance points instead of selling early.

Chasing losses is probably the number one reason why people lose money in the markets, most people have a decent strategy when it comes to trading the markets, however when it comes to applying that strategy that is when people fail, after all they see that their trade of which they had high hopes begin to go against them and instead of simply selling and accept the small loss they keep holding thinking that things will turn around, but they do not and if they were using leverage they run the risk of getting a margin call and their position being closed forcefully.

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Quote from: michellee on February 09, 2022, 11:25:36 AM

Getting used to the market situation without learning more about trading will not work for you because when the market moves but you do not know what you should do, that will not help you anticipate or have a chance to make a profit. No matter if the market is on a bullish or bearish trend, you will not know when you leave or enter or even stay at the market, which can confuse you. But you should not worry because you are not alone as many new traders and experienced traders can panic when the market moves out of their prediction. So at least, you should learn something related to the trend so you will not make a wrong decision.

Yes ofcourse,knowing all about trading and how it works is the first criteria of becoming a successful and reliable trader.One that has zero knowledge about trading and how trading goes can never be a successful trader.
One must be acquinted to the dynamic nature of the market,when changes occur and and when the market is stable.These and many more are things to put into consideration while trying to be a reliable trader.

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Quote from: iv4n on February 09, 2022, 11:30:32 AM

Quote from: passwordnow on February 08, 2022, 02:36:32 PM

Well, definitely it is. When you're used to the market, you're aware of how it goes and it's like an easy thing to you anymore. That's what happens when we're used to things. Being reliable depends on how good you are, how experienced you are.
And with what you've experienced, everything is going to dependent to you and when you end up with good results, that only means that there's something that you get to understand as you trade.

Experience comes from practice... more we practice more we get used to the changes in the market and how to act accordingly! One thing we must learn is to keep the head cool and have strong hands! It's learning how to feel comfortable even when rocks fall around you, you are trying to get the best from dip by buying when others are selling in panic, and to selling when others think it will grow more!
In the end, becoming a reliable trader depends on many factors, I think anyone should be free to try it to see what will happen!

I agree about having cool head and being a strong hands. There's another call for having a strong hands these and that's having a diamond hands.
As for the experience of a trader of getting used to the market. The one that's likely to succeed is the one that have more failure than wins. Having more losses makes that trader learn on where he's wrong and what he must do to avoid it on his further trades. That's why when you ask successful people, they have a lot to tell about their failures that they've used as a ladder to their success.

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Quote from: panukurap on February 09, 2022, 09:48:18 AM

Yes, I agree with you if understanding the market situation is the basic key to becoming a reliable trader. When you know what the market situation is and can take the right steps or strategies you can get big profits and vice versa. Moreover, in determining when to buy and sell coins, this is also an important point that you must also hold on to. The problem of timing in crypto is closely related to patience because sometimes the market moves slowly so you have to be prepared to wait for it to stabilize again.

The longer you stay the better you get as well, that is a key factor. Even if you are amazing at the very first day (which nobody really is) you get to be even better in the future. I have met with a guy who started out with 0.5 bitcoin at first, that was around 1k-2k at the time of course, and then he turned that to 8 bitcoins over course of 2-3 years, and then he turned that into 100-150 bitcoins just from last year to this year as everything went up.

We have to remember that we should not compare ourselves with other people, we should compare ourselves against old selfs, that way you can see if you got better or not and if you do not get better for a while back to back, then maybe you should change some stuff.

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Quote from: passwordnow on February 08, 2022, 02:36:32 PM

Well, definitely it is. When you're used to the market, you're aware of how it goes and it's like an easy thing to you anymore. That's what happens when we're used to things. Being reliable depends on how good you are, how experienced you are.
And with what you've experienced, everything is going to dependent to you and when you end up with good results, that only means that there's something that you get to understand as you trade.

Experience comes from practice... more we practice more we get used to the changes in the market and how to act accordingly! One thing we must learn is to keep the head cool and have strong hands! It's learning how to feel comfortable even when rocks fall around you, you are trying to get the best from dip by buying when others are selling in panic, and to selling when others think it will grow more!
In the end, becoming a reliable trader depends on many factors, I think anyone should be free to try it to see what will happen!

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Getting used to the market situation without learning more about trading will not work for you because when the market moves but you do not know what you should do, that will not help you anticipate or have a chance to make a profit. No matter if the market is on a bullish or bearish trend, you will not know when you leave or enter or even stay at the market, which can confuse you. But you should not worry because you are not alone as many new traders and experienced traders can panic when the market moves out of their prediction. So at least, you should learn something related to the trend so you will not make a wrong decision.

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Yes, I agree with you if understanding the market situation is the basic key to becoming a reliable trader. When you know what the market situation is and can take the right steps or strategies you can get big profits and vice versa. Moreover, in determining when to buy and sell coins, this is also an important point that you must also hold on to. The problem of timing in crypto is closely related to patience because sometimes the market moves slowly so you have to be prepared to wait for it to stabilize again.

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Quote from: Subbir on February 09, 2022, 01:26:27 AM

Quote from: passwordnow on February 08, 2022, 06:39:45 PM

I agree to you, counting those mistakes will help you to be a good trader but that's part of being used to the market. As you become used to the market, you're gaining experience and that's included on it.

Open order is executed due to volatility as soon as the market is open to understand the trading market in advance. An experienced trader can go to profit by making perfect judgment at this time. But apprentices are advised that the first 15-20 minutes of the market start, the time between market hours is less volatile to understand the nature of market movement and the volatility is seen to be revived as the last hour approaches.

Even experienced traders, they are having a shortcoming with trading. It's not that everyone is secure with profit and despite having the experience, they still make some mistakes with their trades. Mistake in a way that they're losing a trade and didn't anticipated some overturn has come. This is very normal and about the market hours, it is 24/7 open so there's really no connection to it when you've become reliable trader. Whether you trade day or night or you have some allowance in time, still it's all up to you.

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Quote from: Ahli38 on January 02, 2022, 12:23:44 AM

"Getting used to the market situation is the key to becoming a reliable trader. "
is that right? Or not?

What do you guys think?

I think this is true.
Because this is based on my personal experience in trading.

My first trade. I'm not very familiar with the (crypto) market situation where it turns out that prices always go down and up quickly.
Because of that I became a person who easily panicked.

When I bought at a high price and the price after I bought it turned out to be down drastically.
Because I didn't know the market situation and conditions, I panicked and was in a hurry to resell the coins I had bought at a high price. and in the end I lost.

But here after I know the market is bullish or bearish then I become calmer and don't panic easily.

This usually happens to beginners who are just getting into the world of cryptocurrency trading

My answer is no. You can't be smarter than the unpredictable market. Risk management is way better than calling ourselves as reliable traders. It's good that you have experienced that by yourself, but that won't happen always or most of the time. Not even the so-called trading gurus or "experts" there are accurate in their price predictions when trading cryptocurrencies.

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Quote from: TinaK on February 08, 2022, 05:29:55 PM

Quote from: Japinat on February 08, 2022, 03:33:07 PM

Quote from: passwordnow on February 08, 2022, 02:36:32 PM

Well, definitely it is. When you're used to the market, you're aware of how it goes and it's like an easy thing to you anymore. That's what happens when we're used to things. Being reliable depends on how good you are, how experienced you are.
And with what you've experienced, everything is going to dependent to you and when you end up with good results, that only means that there's something that you get to understand as you trade.

There's always an advantage if you are already familiar with the market situations, than to start a trading without even a good experience from it. But for me, getting used to the market and learning from all the mistakes we did will eventually contribute to a more successful trading, as we will never be making the same mistakes again. And once we start understanding the market, we can weigh things which strategies will work or not, as we can be more productive and successful traders if we will come to ride the flaws of the market and manage the risk.

That is right, there are a lot of things to learn before you start trading as a novice if you want to be successful. Trading is all about understanding the market, you must trade more intelligently and skillfully to safeguard your capital before obtaining profit. It is not easy to trade, and many of the finest traders have lost a lot of money and that is why it is very advisable to learn and practice skills before beginning to trade because you may end up losing everything if you lack expertise.

Never ever start trading with the aim of just trying,
making a wrong decision when trading it will make us lose money especially for someone who does not have basic knowledge about trading,
so prepare everything first before starting to trade

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Quote from: passwordnow on February 08, 2022, 06:39:45 PM

I agree to you, counting those mistakes will help you to be a good trader but that's part of being used to the market. As you become used to the market, you're gaining experience and that's included on it.

Open order is executed due to volatility as soon as the market is open to understand the trading market in advance. An experienced trader can go to profit by making perfect judgment at this time. But apprentices are advised that the first 15-20 minutes of the market start, the time between market hours is less volatile to understand the nature of market movement and the volatility is seen to be revived as the last hour approaches.

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Quote from: yayayo on February 08, 2022, 10:18:59 AM

What you have said is true if you are going to be a good or reliable trader you should know what the market situation and you are aware of what is going on since with that situation you are going to make a strategy and if you are not aware with it or you don't know what's going on in the market I think you can't be a good trader. So yes understanding and having experience to different market situation is one of the key to become a good trader.

It is an easy thing to say but a hard thing to do. Being a reliable trader who knows how to act in what type of markets have been a difficult thing. I know that most people have some sort of strategy that they follow, and that is why they are not really doing a proper job but at the end of the day if you have a strategy and you are sure that it would work even a bigger risk is to get out of your strategy.

Finding a new one would be fine, that is not a problem, we could always have a new one and we could always use that but we need to make sure that we follow it, because if we do not follow our strategy and not just change it, but just not follow it and do some silly reactionary thing then we would lose all of our money.

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Quote from: milewilda on February 08, 2022, 03:23:38 PM

Quote from: passwordnow on February 08, 2022, 02:36:32 PM

Well, definitely it is. When you're used to the market, you're aware of how it goes and it's like an easy thing to you anymore. That's what happens when we're used to things. Being reliable depends on how good you are, how experienced you are.
And with what you've experienced, everything is going to dependent to you and when you end up with good results, that only means that there's something that you get to understand as you trade.

It would really be just normal that whenever you are really aware on how things do works or on how it do behaves then you wouldnt really easily freak out
which it would really be just normal for you to deal off with and thats really one of they keys on which you could able to handle yourself well into this
place or anything you are tending to engage on.Real life experiences on certain things will give out some idea and true engagement
which would really make you learn.

That's the advantage of the traders that have been known to what they do. It's easier and you're more calm when the market is dipping. But more to it is you get more plan of action and the reaction you do is always in timing and correct. You become more reliable unlike before that you are not used to it.

Quote from: Japinat on February 08, 2022, 03:33:07 PM

There's always an advantage if you are already familiar with the market situations, than to start a trading without even a good experience from it. But for me, getting used to the market and learning from all the mistakes we did will eventually contribute to a more successful trading, as we will never be making the same mistakes again. And once we start understanding the market, we can weigh things which strategies will work or not, as we can be more productive and successful traders if we will come to ride the flaws of the market and manage the risk.

I agree to you, counting those mistakes will help you to be a good trader but that's part of being used to the market. As you become used to the market, you're gaining experience and that's included on it.

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Quote from: Japinat on February 08, 2022, 03:33:07 PM

Quote from: passwordnow on February 08, 2022, 02:36:32 PM

Well, definitely it is. When you're used to the market, you're aware of how it goes and it's like an easy thing to you anymore. That's what happens when we're used to things. Being reliable depends on how good you are, how experienced you are.
And with what you've experienced, everything is going to dependent to you and when you end up with good results, that only means that there's something that you get to understand as you trade.

There's always an advantage if you are already familiar with the market situations, than to start a trading without even a good experience from it. But for me, getting used to the market and learning from all the mistakes we did will eventually contribute to a more successful trading, as we will never be making the same mistakes again. And once we start understanding the market, we can weigh things which strategies will work or not, as we can be more productive and successful traders if we will come to ride the flaws of the market and manage the risk.

That is right, there are a lot of things to learn before you start trading as a novice if you want to be successful. Trading is all about understanding the market, you must trade more intelligently and skillfully to safeguard your capital before obtaining profit. It is not easy to trade, and many of the finest traders have lost a lot of money and that is why it is very advisable to learn and practice skills before beginning to trade because you may end up losing everything if you lack expertise.

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Quote from: passwordnow on February 08, 2022, 02:36:32 PM

Well, definitely it is. When you're used to the market, you're aware of how it goes and it's like an easy thing to you anymore. That's what happens when we're used to things. Being reliable depends on how good you are, how experienced you are.
And with what you've experienced, everything is going to dependent to you and when you end up with good results, that only means that there's something that you get to understand as you trade.

There's always an advantage if you are already familiar with the market situations, than to start a trading without even a good experience from it. But for me, getting used to the market and learning from all the mistakes we did will eventually contribute to a more successful trading, as we will never be making the same mistakes again. And once we start understanding the market, we can weigh things which strategies will work or not, as we can be more productive and successful traders if we will come to ride the flaws of the market and manage the risk.

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Quote from: passwordnow on February 08, 2022, 02:36:32 PM

Well, definitely it is. When you're used to the market, you're aware of how it goes and it's like an easy thing to you anymore. That's what happens when we're used to things. Being reliable depends on how good you are, how experienced you are.
And with what you've experienced, everything is going to dependent to you and when you end up with good results, that only means that there's something that you get to understand as you trade.

It would really be just normal that whenever you are really aware on how things do works or on how it do behaves then you wouldnt really easily freak out
which it would really be just normal for you to deal off with and thats really one of they keys on which you could able to handle yourself well into this
place or anything you are tending to engage on.Real life experiences on certain things will give out some idea and true engagement
which would really make you learn.

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Well, definitely it is. When you're used to the market, you're aware of how it goes and it's like an easy thing to you anymore. That's what happens when we're used to things. Being reliable depends on how good you are, how experienced you are.
And with what you've experienced, everything is going to dependent to you and when you end up with good results, that only means that there's something that you get to understand as you trade.

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Quote from: taufik123 on January 24, 2022, 04:49:02 PM

Trading is not just knowing about the market situation, but trading is how you can analyze the market and predict where the market will go. Technical and fundamental analysis is an absolute must-have knowledge for a trader. and trading hours are very necessary so as not to panic too much when the market is not as good as it is today. Not only beginners will panic, professional traders also panic when predictions don't match market conditions. Psychology will play an important role and everyone has a different level of psychology

The OP is actually on point when I started trading I always made profits rather than take profit and close the trade I leave it to earn more profits, however the price reverses or pullback thus ended up losing some money due to the fact that I haven't studied the market situation especially with regards to the high volatility of the price.
After some time I studied the market very well especially candlestick patterns using the daily time for my analysis while moving down to 15 minutes timeframe for entry and profits taking using Bollinger Band indicator basically TA and follow up with fundamental analysis.

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What you have said is true if you are going to be a good or reliable trader you should know what the market situation and you are aware of what is going on since with that situation you are going to make a strategy and if you are not aware with it or you don't know what's going on in the market I think you can't be a good trader. So yes understanding and having experience to different market situation is one of the key to become a good trader.

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