Topic: How are you trading more efficiently?. - page 3. (Read 807 times)

Bots are quite tough decision to go with, there are a lot of people who made mistakes using bots and lost a lot of money.

Remember, those are just software, machines, they are not having any emotions or thoughts, you tell it to do something and it does it, it never goes "this feels wrong" and stops, they just keep doing whatever they do, and because of that reason I keep believing that people should try to avoid trading with bots, usually the results aren't always that good and it just does what you tell it to do and you could always tell it to do wrong things, you believe it is the good way of trading but it will end up being bad and it will continue to trade like that and make you lose a lot of money.

Do you mean you've been doing following up the news strategy to getting your profits? That is pretty nice because it works best for you I think. But what I know is that, it doesn't go as planned all the time, most times news strategy fail especially when it's a fake information from wrong source also. You are lucky enough if it always work for you.

For copy trading, I don't usually trust the traders to be copying from, I rather use my instinct to follow up my predictions than following up someone I don't know either, but if you find it working for you, then you stick to it and be sure to select the best expert trader to follow and also be sure to use what you can afford to loose.

Basically, you do not have to be "efficient" as long as you are profitable. Most people in the world, famous people, didn't become famous until very late in age, and I would rather arrive where I want to arrive, then be quick and not reach anywhere.

So at the end of the day, we aren't going to be doing anything more, we just need to focus on how to do whatever we can do, and there isn't really anything I can do to make it more efficient, but quick and short and failed isn't what I want, so slow and inefficient and profitable is a lot better. This is how we improve, then you can try to be more efficient if you want later on, try to optimize everything, IF you want, there isn't anything you can do to make it look different than just profits and losses, nothing else matters at all.

Being efficient means achieving maximum productivity with less wasted effort, hence the only way to be efficient in trading is to accept your failures and losses and learn from them. Trading is a learning process, the more you expose yourself into trading and gains valuable experiences, the bigger chances of becoming an inclined and professional trader. There’s no efficient trader that happens in an instant, everything should start from the scratch until you gain mastery and expertise everytime you decide to trade.

You can somehow explore many strategies in trading, OP, but there is one thing I was sure of: there is no easy trading in real life. Sad to say, but finding the easiest way to earn from trading can't find instead that only lose your direction and focus. It is better to master 1-2 strategies rather than having a lot of them to help us not be confused. And most of all, we must accept the fact that trading is not an easy job. Losing and winning is part of the journey, so be it.

Learning how to become a good trader is something that takes time, and while I am sure that there are many efficient ways than mine, I try to just stick with my plan. I trade only 1-2 hours a day, and only on weekdays, on weekends it's my vacation time and I avoid trading as well. I have a set amount of strategy, indicators that I use, and use tradingview for most of the time, and whenever something looks like it's going to go up, I buy, and if nothing looks like it will go up, then I do not trade at all.

There is no need to rush into it, you are not going to make extra money out of it neither, you need to be careful with it. So, I believe that we are going to profit whenever we find any time, so it's the most important part of the deal without a doubt.

There are thing people don't usually learn while (or) when trading, they so much focused on the profits and the possibilities to explore for effective trading, of course is good to explore additional modelaties for effectives trading but, they had refused to take note of their past mistakes  within their trading histories and how they have performed so far while trading. If they would learn to spot out those errors while trading the better for them and it would give them an edge for corrections and learning additional methods to win the market.

Fundamental analysis is good, but it is not always clear.

There are some news events that you can be sure of the effect it will have on the market while there are some other news events that you will be uncertain if it will make the market bullish or bearish this is why technical analysis is always needed to support fundamental analysis to increase the efficiency and chance of winning a trade.

Profit is profit and this is should be having that main priority into your mind on now matter how small it is as long it do shows green then it will really be that counted. Therefore, you should really be that knowing on what are your priorities and on what are the things that you will be that trying out to achieve. When it comes to trading then we do really know that on the moment that you will be having that tons of adjustments because on the moment or time that you had that become that too hasty with your decisions or simply being careless then it might be understandable if you are new but if you are already that old and having no learnings and adjustments into your trading then there's something wrong with you.

After all the hours that you've been dealing up with trading then it will really be that impossible that you cant be able to distinguish on which are the things that be wrong or something not ideal on doing so. Experience will really be the key because lack of experience will be leading out to mistakes and errors but as you do go ahead then you will be that eventually learn up all things along the way. Just dont make yourself on a rushed way on dealing up with things because this will really be that having that very huge problem and might ending up for you to have that huge problem and ending up on surrendering or stopping your trading career just because you cant be able to sustain or survive up.

Yes it may be in general form or knowledge but lets agree that it really affects the market. Like the recent win of Donald Trump, during that time of the election when Donald Trump almost secure the office the bitcoin market pump hard since Trump is bullish on it. So we didnt need chart analysis there as major markets agree to its sentiment.

I think when it comes to Bitcoin, fundamentals are big in this game and can be profitable if you know how to interpret them..and the fact that we have Trump in the driving seat..this means more of those tweets means easier way to know if markets get bullish or we short the market.

But when we also talk of efficient trading,  for me less is more...you know how everyone says over trading can lead to losing more this is why I have settled for less is more and it's kind on one's mentality.

Your decision based on that fundamental was a right one. It's like getting heads-up of a token unlock and not dumping one's hodling before the time, that will be a most regrettable decision. Investors are more likely to take profit at news of a token unlock than not, unless it's a very small quantity being unlocked. I believe that was what happened with the DOJ news. I missed that news as I wasn't trading that period, I would've done the same by shorting it though not on that high leverage of yours. I only got to know of it when I noticed how quickly Bitcoin had nosedived and decided to surf online to see if there was any kind of FUD. Behold there was no FUD, it was that news and it dropped Bitcoin real hard. It simply shows that no matter what we do as traders, we shouldn't ignore news.

I have not used a bot to trade before, I don’t even know how it works so I don’t even see it as my thing. How to maximize my potential win in trading this year it to focus more on market on the higher time frame, they give more probable wins but just requires you to be patient enough for the market to reach your point of interest. I have noticed that the most profitable traders encountering less risk in their trades are swing traders, so focusing more on swing trading will be my thing from now.

For me I learned a lot from my mistakes last year and I am trying to develop my trading by focusing on avoiding these mistakes as much as possible, the problem is that sometimes you know the mistakes but you get carried away by them because of fear or greed so one of the most important basics is to practice controlling your emotions.

I also tried spot grid trading and bots but in a simple way as an experiment, it was not completely successful so I intend to develop this experience more this year when I have the opportunity.

Buying at $60,000 and trading at $69,000, well, is not a huge profit, but at least we have earned some. Could this be a good idea? Not for greedy traders, but for me, this is indeed enough rather than losing an opportunity. Honestly, I have experienced before where I ignored the notif and just let it pass. But I'm regretting it because the price never recovered back to what I thought. 

In this volatile market, one way to earn from trading is to sell high as much as possible and never hold long with your coins. Avoid being too greedy, or else this will be a reason for missing a great opportunity.

Yes, the trading market is always volatile and full of uncertainty, but if you gain skills in trading and trade using the right strategy, the chances of success are very high. However, to trade using the right strategy, you first have to learn trading, trading is not an easy thing, learning trading completely, it requires a lot of time, patience, and hard work. Many experienced traders also face losses, so to be successful in trading, you have to learn trading first, and when a new trader first starts trading after learning trading, he may have to face a lot of losses at first, but at that time if he is not emotional, and sees his losses as a means of learning, and tries to learn better, then he will be able to succeed at some point.

I am not a pro trader and only use manual trade because I don't know how to use the bot. I feels it is better to analyze with our skill because we don't have to bother to set the command on the bot when the market change the direction. If I am sure that the market will go up or down, I will use bigger leverage but I also prevent when the market moves to the other direction by watch the market moves so I can act fast before it is too late.

I am trying to focus with my trade and although my profit is not bigger than others, I will keep trying to learn and trade. That can improve my skills in trade and I will have a chance to make more profit.

That's not very simple to do, easier said than done

My simple strategy I always tell people to try is to get a trading buddy. He tells you when he's making a big trade, you tell him when you're making a big trade. And both help each other stick to the plan.

I'm not sure if that is more efficient though, as OP is asking about efficiency. I would say in this regard, learn to use limit orders. And only use limit orders. You should log in to place them, not to watch trades.

Hey ruchiman thanks for this. You've got tips on how to efficiently keep the trading journal, I always see it as as dicey. I'll also check some YT contents for this..


Okay. Does Fed rate affect crypto?  That that's only for forex . The link you sent talked about is an opportunity for trading bot users.. tasks looks simple though, so when I'm free I'll check it out in details..tq

Good for you, and that must be the reason why the market dumped really hard a few days ago.
This is also one reason why we shouldn't ignore the news because while most are focusing on analyzing the market through technical analysis, let's not forget that the news can also have a huge impact on the market as well. Good for you that you took the risk, and got rewarded with it.

This is what I'm planning to do this year when it comes to trading:
1. Focusing on at most 2 trades per day or 3-5 trades per week.
2. Be more patient because patient is a key trait that every trader has.
3. Always put a stop-loss just in case things go south.

I believe we have different ways to be efficient in trading, and for me, this is what I'm doing this year. There are some that feel that they're more efficient when they make more trades (at least one a day). There are some who aren't putting stop-losses because they can look at the market constantly. There are some who are using multiple indicators, and so on, and so forth. We just need to find the perfect or the right one that works for us.