Getting Used to The Market Situation is The Key to Becoming a Reliable Trader. - page 2.

kamilah147

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Quote from: Ahli38 on January 02, 2022, 01:23:44 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

at first glance it's good, but in this case a little advice from me in trading is when you buy then do a simple research on the crypto currency you want to trade as a basis for evaluating how far it has developed and what prospects you will get from it.
a little bit of it will help you not to panic when you see price movements and can discuss with the cryptocurrency forums that you hold.

seleme

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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.

LUCKMCFLY

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Quote from: LastKiss on January 30, 2022, 07:10:11 PM

Quote from: Marykeller on January 30, 2022, 06:22:47 PM

The type of coin you hodl will determine how you will panic when the bearish market hits hard on cryptosphere. I only have a relaxed mind if am hodl top altcoins in my portfolio cos whether good or bad the market must bounce back to their favour just a matter of time and patience. But as for newly created altcoins, I shiver cos I can ascertain what the future holds for them during the bearish market

If that the case then we should all in to top coins in the market rather than risking our money for new coins, but because it's new coin some of them easily gain more than 100% in a few days and many people looking for that, an easy profit but high risk. If we know the uncertainty of new altcoins and we are afraid to take a risk we wont put our money there but in the reality many people depend on their luck and hope for 1000% profits.

What happens is that to diversify our money we need to know how to choose the right coins or tokens, however at this time the investment 'can falter because the market at any time can make a bearish movement, so you must be prepared to see the equivalent in fiat going down, you just have to know how to wait until the BTC takes its bullish trend and be able to see benefits, but until now you must have a psychological preparation that the price will go down.

South Park

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Quote from: LastKiss on January 30, 2022, 07:10:11 PM

Quote from: Marykeller on January 30, 2022, 06:22:47 PM

The type of coin you hodl will determine how you will panic when the bearish market hits hard on cryptosphere. I only have a relaxed mind if am hodl top altcoins in my portfolio cos whether good or bad the market must bounce back to their favour just a matter of time and patience. But as for newly created altcoins, I shiver cos I can ascertain what the future holds for them during the bearish market

If that the case then we should all in to top coins in the market rather than risking our money for new coins, but because it's new coin some of them easily gain more than 100% in a few days and many people looking for that, an easy profit but high risk. If we know the uncertainty of new altcoins and we are afraid to take a risk we wont put our money there but in the reality many people depend on their luck and hope for 1000% profits.

That is the main issue I have with all of that, newbies with no experience and knowledge want to obtain huge profits, and while I can appreciate their ambition too much of it is dangerous as it leads people to take decisions of which they are not completely aware of the consequences, for newbies even buying and holding their bitcoin will be difficult, but since they decide to buy new altcoins when the markets are presenting the highest volatility their failure is almost guaranteed, as they will be unable to hold their altcoins due to the panic they will suffer when the price begins to go down.

LastKiss

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Quote from: Marykeller on January 30, 2022, 06:22:47 PM

The type of coin you hodl will determine how you will panic when the bearish market hits hard on cryptosphere. I only have a relaxed mind if am hodl top altcoins in my portfolio cos whether good or bad the market must bounce back to their favour just a matter of time and patience. But as for newly created altcoins, I shiver cos I can ascertain what the future holds for them during the bearish market

If that the case then we should all in to top coins in the market rather than risking our money for new coins, but because it's new coin some of them easily gain more than 100% in a few days and many people looking for that, an easy profit but high risk. If we know the uncertainty of new altcoins and we are afraid to take a risk we wont put our money there but in the reality many people depend on their luck and hope for 1000% profits.

Marykeller

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The type of coin you hodl will determine how you will panic when the bearish market hits hard on cryptosphere. I only have a relaxed mind if am hodl top altcoins in my portfolio cos whether good or bad the market must bounce back to their favour just a matter of time and patience. But as for newly created altcoins, I shiver cos I can ascertain what the future holds for them during the bearish market

South Park

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Quote from: taufik123 on January 24, 2022, 05:49:02 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

This is important, when it comes to trading the markets we are all going to make mistakes, that is inevitable, however how do you react to those mistakes is the key to all of this, there are people that make the incorrect prediction and it is as if it is the end of the world is happening exclusively to them, and if for some reason it is and you will lose a massive amount of money because of it then your money management strategy is terrible and it needs to be reviewed, as no single loss should be devastating for your account.

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Quote from: Finestream on January 26, 2022, 05:23:12 PM

Quote from: tvplus006 on January 24, 2022, 06:26:00 PM

Quote from: Ahli38 on January 02, 2022, 01:23:44 AM

"Getting used to the market situation is the key to becoming a reliable trader. "
...

Everyone knows that in order to become a doctor, you need to study and in order to become a pilot, you also need to study, etc.But contrary to this, it is widely believed that you can immediately become a trader trading with profit without training. Yes, this way you can gain experience, but such training will be very expensive.

But you can really compare trading without knowledge will most likely end up losses, unlike trading with first hand knowledge that will give them more ideas on how to trade the market successfully. But still when knowledge is gained, of course there should be practical applications that will follow. And having real life experiences from trading is always an edge because it makes you understand what trading is all about and you get to learned lessons from various experiences that will improve you trading skills.

Yes, and the funny part is most people don't know it yet rushing straight to trade like buy high then sell low just because they've seen a trend. They were all blind of what was coming and what they just did that's why a research to have a proper knowledge about the market will always give us benefits to take advantage of what most people didn't do.

I mean, that's how it works, right? People who doesn't know what they were doing will most likely going to lose and that would be a profit to someone.

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Quote from: mk4 on January 02, 2022, 01:29:30 AM

Quote from: Ahli38 on January 02, 2022, 01:23:44 AM

"Getting used to the market situation is the key to becoming a reliable trader. "
is that right?

What do you guys think?

I mean, that should be a given, no? Trading a market you don't know anything about is like trying to do a job you know nothing about; it's almost always a recipe for disaster.

People wont believe it until they do really fucked up thierselves with the reality.When you are engaging on the market then it is really just normal that you would really able to face up situations that you havent experienced before and on the times you do get awareness and experience then you are really making yourself way more better.

Knowledge and perseverance is the key on whenever you do engage on something like this then being sensible
on what actions to take should really be your priority.

If you do want to become a better trader then you should really be versatile in all situation that you might be facing on.

Wawa2013

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Quote from: taufik123 on January 24, 2022, 05:49:02 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

That's why trading is not an easy thing to do, because to be successful when trading we have to do several things. It is not enough just to understand
the market situation, but we need other factors in order to generate large profits when trading. For me trading is quite complicated, because it has
to combine several things, which cannot be achieved instantly. Such as analyzing the market, controlling emotions, and managing finances are things
that we must master if we want to become successful traders. Sometimes we need to lose a few times first, so that we are aware of the mistakes
we make when trading and can prevent them from happening again in the future. So never stop learning to trade, and don't be afraid to practice
trading regularly. Indeed, to become a successful trader we need to go through a long process, so we must be patient through the process.

Finestream

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Quote from: tvplus006 on January 24, 2022, 06:26:00 PM

Quote from: Ahli38 on January 02, 2022, 01:23:44 AM

"Getting used to the market situation is the key to becoming a reliable trader. "
...

Everyone knows that in order to become a doctor, you need to study and in order to become a pilot, you also need to study, etc.But contrary to this, it is widely believed that you can immediately become a trader trading with profit without training. Yes, this way you can gain experience, but such training will be very expensive.

But you can really compare trading without knowledge will most likely end up losses, unlike trading with first hand knowledge that will give them more ideas on how to trade the market successfully. But still when knowledge is gained, of course there should be practical applications that will follow. And having real life experiences from trading is always an edge because it makes you understand what trading is all about and you get to learned lessons from various experiences that will improve you trading skills.

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Quote from: Vaculin on January 24, 2022, 05:48:24 PM

Quote from: Sterbens on January 24, 2022, 12:24:09 PM

Know what you want to buy and don't let it follow the ambition of advice from people who already have a field far more than your knowledge. Don't be in a hurry, there will come a time when you will understand the market situation over time. Knowledge and a combination of experience will be more effective. Don't feel lost, because that's when you gain new knowledge, no matter if you lose or whatever, because the process will ultimately be a valuable lesson that you always remember that wrong decisions in the past make your trading more structured in the future.

Exactly. With further experiences in trading, either good or bad, it will always give new lessons for us to make our trading more improved in the next days. Trading is a step by step learning , and the making of a good trader will always follow a process starting from a scratch until success comes in. So there's no need to rush in trading, we will all get there if we are more patient and becomes more knowledgeable in trading.

That's a very precise point, that most novice traders always equate their trading with those who have an early understanding of the trading cycle. The point is we will reach the process gradually. The thing that needs to be avoided is not easily obsessed too much. because trading highlights the personal character of each. If a person does not learn to be patient, it will be seen from his trade that he always buys and sells in a hurry just because of a temporary increase.

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Quote from: Ahli38 on January 02, 2022, 01:23:44 AM

"Getting used to the market situation is the key to becoming a reliable trader. "
...

Everyone knows that in order to become a doctor, you need to study and in order to become a pilot, you also need to study, etc.But contrary to this, it is widely believed that you can immediately become a trader trading with profit without training. Yes, this way you can gain experience, but such training will be very expensive.

taufik123

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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

Vaculin

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Quote from: Sterbens on January 24, 2022, 12:24:09 PM

Know what you want to buy and don't let it follow the ambition of advice from people who already have a field far more than your knowledge. Don't be in a hurry, there will come a time when you will understand the market situation over time. Knowledge and a combination of experience will be more effective. Don't feel lost, because that's when you gain new knowledge, no matter if you lose or whatever, because the process will ultimately be a valuable lesson that you always remember that wrong decisions in the past make your trading more structured in the future.

Exactly. With further experiences in trading, either good or bad, it will always give new lessons for us to make our trading more improved in the next days. Trading is a step by step learning , and the making of a good trader will always follow a process starting from a scratch until success comes in. So there's no need to rush in trading, we will all get there if we are more patient and becomes more knowledgeable in trading.

nurilham

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I think it's true because as a trader, everyday food is a crypto market. Seeing the market going down is a common thing for traders but it may come as a surprise to beginners. it's okay, all come from beginners and eventually learn and keep learning until finally become a good trader. At the beginning of joining, it was not easy for me to accept these ups and downs in the crypto market, but as time goes on and in our career, we will know our own trading flow. What strategy is right for us at certain moments will we get when we are ready to learn and learn more to trade.

Sterbens

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Know what you want to buy and don't let it follow the ambition of advice from people who already have a field far more than your knowledge. Don't be in a hurry, there will come a time when you will understand the market situation over time. Knowledge and a combination of experience will be more effective. Don't feel lost, because that's when you gain new knowledge, no matter if you lose or whatever, because the process will ultimately be a valuable lesson that you always remember that wrong decisions in the past make your trading more structured in the future.

Alisha-k

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And it's applicable to everything we do in life, for anything you venture into with no or little knowledge, the outcomes can never be compared to stuffs that are done with well packed and articulated knowledge, it's very obvious. You want to do something and stand out at what you do??

Then study 1st, ask questions where necessary, get to learn from people's mistake and be ready to unlearn too

palle11

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Quote from: Peanutswar on January 21, 2022, 12:20:25 PM

Lossing assets are part of it but of course, analysing the mistake lessens the risk. Ride the market when there's a proper signal skip when your doubt.

Losses is actually part of it and doing analysis can reduce it, yes I like that response . It should give newbies the confidence that if they do real time research and study the market then profit will be higher than losses. Now the market is bear but it doesn't stop good traders to keep getting profit out from the bear because they do a real study and do research of the market.

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Quote from: palle11 on January 22, 2022, 09:26:46 AM

I ask a question based on this, can timely active trade override technical analysis ? No is my answer because technical analysis is a direction for trade to be made for an experienced trader. Again on that you can't get adequately used to the market fluctuations without the technicalities of the market this is what is important. Taking note of the graphs, charts and indicators is important to check the fluctuations.

Well said, I completely agree with you. There is no doubt that being familiar and at ease with how the market works is an edge because such situations that may be encountered won’t be much of a drastic surprise that could disrupt everything. But, for timely action an decisions to be made, the technicalities of the market and thus the ability to analyze such next rise or fall is important. And so, getting used to market situations is important, but it is everything, and it does not end there to become a good and reliable trader.

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