Getting Used to The Market Situation is The Key to Becoming a Reliable Trader. - page 4.

Luzin

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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?

Since I've known bitcoin since 2015, the statement you said is true. The market cycle has developed rapidly there are new habits emerging and that's very different to what I've got a few years ago. A trader should continue to be able to read the ever-changing market situation. Otherwise they won't thrive and I think they're likely to suffer losses. Of course to avoid losses you should always adhere to a plan about the management of losses.
Bitcoin's habit of being the mecca of movement of all altcoins has been very different in 2015 and now. Maybe if you already know trading that year then you will know. For many years, the market has been very difficult to guess.

Rruchi man

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Quote from: Wexnident on January 16, 2022, 05:39:53 AM

I mean, if you don't get used to it, you're always going to make weird decisions backed by impulsive decision making,

You know we were all wired differently, I must point out that getting used to some situations that is being able to adjust and adapt is much more easier for some persons than others, trading IMO is much easier for such persons. For the others who dwell on situations and don't easily adapt to them, it is going to be a hassle. If you fall into that category, that is the type that don't easily adjust and get familiar with situations, you must personally strive to develop this ability to be able to keep up with the everyday drama in trading.

davis196

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It depends of what do you mean by "getting used to the market situation".
Simply knowing the market situation isn't enough.You have make a good technical and fundamental analysis of the market situation and you have to pick the right trading signals.
You also have to take complete control over your emotions and not freak out every time the price moves to an unexpected direction.
Practice is the key to success.Failure is the best way to learn(unfortunately it costs a lot of money wasted on unsuccessful trades,but everything good in life comes at a high cost).
Even the best traders had lost lots of money.You can't become a "reliable trader" on Day 1.

Wexnident

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Pretty much yeah. I mean, if you don't get used to it, you're always going to make weird decisions backed by impulsive decision making, which is, in general, very wrong. There might be cases where your decision-making would result in something good, but that is in the end, a one-time or two-time thing, it's not always going to happen. getting used to the market means understanding that what is happening is normal for the market, and that you should be able to act accordingly.

RealMalatesta

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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. "

Yeah, you will become a profitable trader when you gain real time experiences. At the same time, getting used to different market scenario alone will not help you but you need to learn by heart on every situation so that you could take right decision which will end up in cutting losses or making decent profits. Simply, experience always helps traders as only time could get you that and nothing else.

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

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

When you get solid analysis and then clear signals on price levels then you may able to remain calm as you are aware of what is going to happen and what you need to do when market goes against you. So, being skillful will help any trader to remain calm and successful.

palle11

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Quote from: pooya87 on January 16, 2022, 12:47:45 AM

For example in the altcoin market if you just get used to being dumped on, you will always lose money but if you understand why you get dumped on and you can find a way to dump the altcoin before others dump you can avoid losses.

This requires research and reading of speculative thread to see what some experts are saying about the price direction and if we follow some of it, dumping or raising of our coins won't be difficult to notice so we can be ahead of others or the market like you said. Especially following bitcoin speculators, will give an edge because bitcoin is the direction that altcoins follow. So the rise of bitcoin is a way to know the cryptocurrency market

molsewid

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Quote from: pooya87 on January 16, 2022, 12:47:45 AM

You never succeed in anything by "getting used to" the situation in that thing. Whether it is a market or a job or anything else. The only way to become successful is to understand the situation first and then come up with useful ways to deal with each scenario.
For example in the altcoin market if you just get used to being dumped on, you will always lose money but if you understand why you get dumped on and you can find a way to dump the altcoin before others dump you can avoid losses.

Exactly mate, and I do agree on the fact that getting used to the market situation especially here in crypto is the key to becoming reliable trader. Gaining experience and necessary knowledge on what you are doing needs a constant practice, constant learning because it wouldn't learn by just first attempt. Though we may get already knowledge if we perform primary research but learning through experience is one of the best experiences that a trader or investor can gain through his journey.

GreatArkansas

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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?
(.....)

Right somehow especially if you have the consistency too. You become a reliable trader once you are also committed to it and have consistency.
Some traders especially newbies are just intended to do some trades at the beginning, after losing a few trades or winning, they intended to stop and back again if they want.
Another example is, "the best teacher is experience".

pooya87

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You never succeed in anything by "getting used to" the situation in that thing. Whether it is a market or a job or anything else. The only way to become successful is to understand the situation first and then come up with useful ways to deal with each scenario.
For example in the altcoin market if you just get used to being dumped on, you will always lose money but if you understand why you get dumped on and you can find a way to dump the altcoin before others dump you can avoid losses.

Mauser

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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?

This is definitely true. Making research on a project and identify if its reliable is important, but more important is to identify the current the overall market position. Crypto currencies like most other asset classes move in cycles, there are 3 parts in the cycle. A upwards trend, a sideways trend and a downward trend. If we don't pay attention to the part of the cycle we are in, then trading becomes very difficult. Even the best projects are having a hard time in bear markets. That's why technical analysis is so helpful to identify these cycles for us. The real difficulty lies in the prediction of how long the bull or the bear market is going to last.

checkmatesir

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Exactly true there are so many things about which you have to learn before starting trading. As a beginner i know you will be unable to realize that what is going and how you will get benefit in such circumstances as you are not familiar with the market. So in such cases there is always some individuals who faces huge loss. Know about market situation is really good in order to get profit.

palle11

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

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

You are talking regarding the trend and surel picking out the trend gives you a confidence that you are in the right spot even when the price moves a little against you because it will reverse encourages you to wait a little more. Usually trading against the waves of trend is a risky adventure because it does a little profit and huge losses. So being on the trend always whether bear or bull is a guarantee for profitable trade.

Ararbermas

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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

that's why it always recommended to learn first and to practice skills before starting in trading because you will end up losing money if you're lack of information wherein it's like you're dashing money for free. So always remember to invest time first to obtain specific information if you really want to succeed. Indeed all the information can be found around the internet easily and they're free so make it as your priority to have a good journey in trading.

Ahli38

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Quote from: perla on January 02, 2022, 05:02:15 AM

You are right, if you are getting used to it then you know what are the right ways to take advantage to the market but in reality it's not always the same since the market is volatile and the situations are either coincidence only but of course if you get used to that similar market experience or situation you would be able to adapt and do the right decision and in result you will become a reliable trader.

It's like getting experience in trading.

Ya... Experience is the best teacher. Like that on trading too. Be patient and dont be greedy is key for be success trader.

Thank you very much for comment on my topic .

perla

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You are right, if you are getting used to it then you know what are the right ways to take advantage to the market but in reality it's not always the same since the market is volatile and the situations are either coincidence only but of course if you get used to that similar market experience or situation you would be able to adapt and do the right decision and in result you will become a reliable trader.

It's like getting experience in trading.

Ahli38

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Quote from: mk4 on January 02, 2022, 12:29:30 AM

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?

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.

Thank you very much for the correction. I have re-edited it.

Yes you are absolutely right. it's a disaster when we jump into work that we don't know about the situation and conditions of the job

mk4

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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?

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.

Ahli38

hero member

Activity: 952

Merit: 779

"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

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