How do I succeed as a trader in 2024 - page 8.

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Quote from: GeorgeJohn on January 01, 2024, 03:57:24 PM

Quote from: kioprince on December 28, 2023, 05:54:53 AM

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

It's better since you are having such intension or passion in trading then you devote out precious time to learn the basics things that concerns trading, many people doesn't like to learn and understand the basic foundation of trading before they ventured into it and that is what makes than to experience lost everytime, so I will encourage who wants to venture into trading to first acquire the concept of trading through manual and youtube tutorials video before you venture into such so that you will not experience loss because not all that shines or glitters is original gold or silver

Everything cant really be learn in a short period of time on which it would really be just that right that you should really know on the things that you are doing on which it would really be just that sensible that you do deal up with things on the right way so that you wont really be putting up yourself on such trouble on the time that you do hover yourself on trading field or career. If you do have plans on having that trading success
then it would really be just that right that you should be doing those basic stuffs when it comes on dealing with it. You cant really just that make yourself having that confidence specially when you are just new.
There's no way that you could hover up yourself and able to succeed without having those challenges.

Thrive and be serious or having the passion towards trading is something that you would really dealing with. You cant really just that be able to attain those skills and success in a short time.
You would really be experiencing tons or error and trials along the way on which there's no way that you could be able to handle it out immediately. It takes time.!

GeorgeJohn

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Quote from: kioprince on December 28, 2023, 05:54:53 AM

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

It's better since you are having such intension or passion in trading then you devote out precious time to learn the basics things that concerns trading, many people doesn't like to learn and understand the basic foundation of trading before they ventured into it and that is what makes than to experience lost everytime, so I will encourage who wants to venture into trading to first acquire the concept of trading through manual and youtube tutorials video before you venture into such so that you will not experience loss because not all that shines or glitters is original gold or silver

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Quote from: kioprince on December 28, 2023, 05:54:53 AM

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

Are you someone who can't control your emotions? if yes then before you trade, you have to learn it first, what's the point!! In trading, controlling your emotions is very important because if you trade but still use excessive emotions then you are just gambling. After that, another thing that you must master is analytical skills, this is the next very important thing, you must master technical analysis and also fundamental analysis in trading, when you master that then be sure everything you do in trading will run smoothly, try that too to create a demo account, the average active trader uses a demo account to test their strategy, also use small capital because you are still a beginner.

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Quote from: kioprince on December 28, 2023, 05:54:53 AM

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

If you really aim to maximize the profits by 2024, do not settle only with trading but invest and do long term hodling with bitcoin. I believe both will bring substantial profits once you have performed them correctly and successfully. Focusing on trading or investing alone may bring significant profits but it will be more massive and huge if you do both, as two heads is better than one.

However, success do not just happen without putting extra efforts on it. It takes a lot of discipline and bravery in facing different risks with trading and long term hodling. If you are fearful, hence learn to be fearless. You won't create positive changes if you never take risk. And by taking risk means you will do everything to succeed and be profitable no matter how hard and tough the process. Having the spirit to overcome all those risks is a must.

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Quote from: I_Anime on December 28, 2023, 06:59:20 PM

To succeed in trading is to first learn how to control or manage your risks, in trading what most people don't know is that trading not just about the number of profit you made is the number of risk and losses you've reduced. For instance you might make alot of profit just in one day but just a slight mistake might lead to you losing all those profits ones. So focus on minimizing your losses and gathering little profits as time goes on you will see the progress in your trading.

Doing research and learning from others is a bundle if you learn properly, it is automatic that you will be able to handle risks. When it comes to trading, there are limits to finances; utilizing all of your cash to trade is quite irrational if someone tries, they may liquidate. There is no way to avoid losing money, but there are simple tactics to lessen such risks. People usually desire enormous returns, and as long as your risk is low and your losses are low, everything else should be appreciated. People think trading is hard but it is not hard all.

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Quote from: kioprince on December 28, 2023, 05:54:53 AM

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

I also have taken high consideration with trading. Although trading does not really guarantee a world full of profits but if you have wide experiences on trading, you will have a big edge to make it great with trading. The risks maybe high and may lead you to high losses as well, but there's no perfect trading, everyone loses and wins at some point. But if you have the skills and perfect strategies that may work in trading, then don't wait for trading opportunities to come to you, but grab the opportunities without no hesitation as trading can provide exceptional profits that will create big changes in your life.

tjtonmoy

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The best thing you can invest if you want to learn trading is time. The more time you give it, the better you become at it. First thing first, gather knowledge as much as you can. Then put that knowledge into work in order to gain experience. After that using the experience, use trial and error method to gain data for analysis so that you can know in which particular section you are lacking in. Then focus on improving that.
One last thing that I want to include here is that, everything you learn becomes outdated the moment you learn it. Because the crypto market is evolving every second you need to be able to evolve with it. Try to come up with your own strategy so you do not stay left behind.

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Quote from: kioprince on December 28, 2023, 05:54:53 AM

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

Experience will be your best weapon in trading. If you don’t have various experiences with trading, then educate yourself first and explore the field of trading by using demo account at first and test your strategies all you want so you will know which strategies will most likely work and which are not working even in demo trading.

Trading brings financial stability if you know how to trade well, but if you trade without proper knowledge and skills, you will end up like gambling and all your funds will go into waste.

lombok

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As before, buy and hold. Buy Bitcoin and some potential altcoins. We can look for and research this by relying on current trends. As has happened before, in the previous halving round the meme trend was very mainstream and exploded, many meme coin holders made big profits. It is possible that if we apply something similar where we are able to observe the current trend and coincide with the bitcoin halving we also have the opportunity to reap profits like the previous cycle. Play spot then buy and hold until the bitcoin bubble occurs. Buy and hold has proven to be effective and safe if we apply it correctly.

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Quote from: kioprince on December 28, 2023, 05:54:53 AM

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

That's a good idea for next year and I hope you have great success. There quite a few basic things to consider, like only use money that you can afford to lose, don't chase losses, etc. I am sure you have some knowledge about trading already and look more for advanced tips. 2024 is going to be an exciting year, because asset prices are quite high at the moment and the world is very fragile. Any form of bad news could lead to another sell off and create a lot of opportunities for us traders. It's usually the times of high volatility that offers great bargains and will lead to nice profits in the future. My advice would be to try an limit yourself to 2-3 crypto projects that interest you a lot and follow them as close as possible. Bitcoin could be one of them, and the more you focus on one project the better you will be able to take advantage of over or undereactions in that project. It also helps to not fall in the trap of trading to many different coins at the same time, without having an edge over the other traders.

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Quote from: cryptoaddictchie on December 29, 2023, 06:50:46 AM

Quote from: kioprince on December 28, 2023, 05:54:53 AM

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

Trading is a bit hard to cope in my own experience. Before Id tried to do day trading but didnt able to consistently make profits or worse I ended up losing more. Now I know how to earn via investing on a good timing on tokens and more on vested projects. I am liking the idea cause its a long term perspective but for the daily or monthly income, well still doing some short trades but only on spot and its not like daily once I achieved my target I exit and when I am down I make sure that I have a 10% limit on loss and whatever it is Id accept it.

Its because whatever efforts we made there are times we surprisingly lose because volatility is unpredictable. That's why sometimes it came out on my mind that day trading is not really worth it since the profit to get there especially if we use small fun is less and the chance to lose is so big that's why I'd prefer to hold not rather than doing some movement on unpredictable market. But we also need to know that its case to case basis since we also need to consider the current condition since this gives us a hint on what possible movement we gonna take. Right now I'm still bullish on my holdings and planning to hold for more months or years then see how far we can go here.

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Next, in 2024, I want to do more in-depth research on the next trend, as previously, Metaverse and Artificial Intelligence will definitely be interesting to invest in. How we get profit depends on how much hype there is. I always follow the trend every year, that's better and not boring. Whether the project is successful or whether our investment makes a profit is part of the risk as an investor.

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Quote from: kioprince on December 28, 2023, 05:54:53 AM

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

Work More on your discipline when trading that's if you have been trading already and have a strategy with which you trade but if you don't, it will be better you focus on learning first, find a mentor and stick to one, don't cultivate the habit of having several mentors as that will further confuse you than help you because everyone have got the pattern that works for them and trying too many pattern at once may not help you well enough to getting the kind of results you desire but staying consistent with a particular strategy over time you will turn profitable.

If you want to go into trading full time then you may have to take note of the fact that you must not trade everytime and every day to be profitable els you will not make good progress, profitable traders have got systems with which the work with and they don't necessarily trade all the time.

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Trading is more of skill and experience for one to be successful in it. You should know the fundamental analysis and technical analysis, also you should have patience and know how to control your emotions if you want to be a good trader and don't allow greed to control you. So many newbies jumped into trading with little knowledge and they made big loss, which made them to stay away from trading. You should also sacrifice your time in learning and practicing trading to have the experience of the market. It is better that you should use only the amount that you can afford to lose, when you want to trade. Next year is the halving and the bull run, so it is better not to trade by then.

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Quote from: kioprince on December 28, 2023, 05:54:53 AM

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

Firstly devise your trading plan starting from adopting a tested trading strategy which I assumed is a working one with reasonable risk to reward ratio remember trading is hard and I believe you had passed through the learning process and stages and had acquired some skills needed to become a profitable trader, secondly I will advice you to start trading with some little fund after consistent profit earning thereafter you can increase your portfolio though the journey towards becoming a profitable trader is tough however with perseverance and patience you can achieve your aim of financial success next year.

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Quote from: kioprince on December 28, 2023, 05:54:53 AM

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

Trading is a bit hard to cope in my own experience. Before Id tried to do day trading but didnt able to consistently make profits or worse I ended up losing more. Now I know how to earn via investing on a good timing on tokens and more on vested projects. I am liking the idea cause its a long term perspective but for the daily or monthly income, well still doing some short trades but only on spot and its not like daily once I achieved my target I exit and when I am down I make sure that I have a 10% limit on loss and whatever it is Id accept it.

the rise

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don't have to think about that, because we just need to live it and be prepared for it all. We here really want and really want to be successful but all of that will definitely fail if we think too much. try to live within the limits of our abilities. We all have our own paths to success, especially in the financial sector. It's just a matter of when it's time for us to be successful, it's not that we can't be successful, our enthusiasm for life is needed for all of this in order to achieve it all.

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Well, there is no shortcut to become successful in trading and it will never be an easy road to become successful in this field, yes it will be hard and risky but I think you are decided and dedicated to be successful in trading, that only thing you can do is to hone your skills and knowledge about trading, build up confidence and skills also experience you will used in your journey, no matter what you read here in this topic, no matter what advise that is or guide you will never be successful if you will not apply and learn it for yourself, trading is risky and unpredictable as the market is volatile so there is no certainty in this field its up to you on how will you manage to survive and be successful in trading. You will need a lot of patience, as the road you choose to cross will never be easy.

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I think trading could eb a good resolution for 2024. However, if you really want to be a great trader, then you should consider spending months and months on learning how to trade, and that means you are not going to trade most of 2024, you would be on your way to be a great trader, and you are going to see prices go up a lot during 2024 so you would want to trade, but I would suggest you end up investing long term, until you are a good trader.

You could slowly start to trade yourself, but first you need to focus on making a profit, I believe that the best thing you could do would be focusing on how you could end up with profit by studying a ton. A lot of people start trading without knowing much about it, and end up losing all their money.

ice18

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Based on my personal experiences wayback when I first started trading this is not an easy goal, you need a lot of patience when entering crypto. Learn to control yourself, emotions and stick to your plans, market is really unpredictable so expect the unexpected this kind of business is too risky so better think twice before entering your hard-earned money into crypto, Goodluck on your journey.

Topic: How do I succeed as a trader in 2024 - page 8. (Read 1328 times)