Topic: How do you make `Trading` profitable? - page 3. (Read 830 times)

Just be contented on what you had made and just try again.Dont get upset nor regretful when you sell to early because market is unpredictable in the first place.

You wouldnt know on when it would shoot up and you wouldnt know on when it would dump down.Sometimes gut feeling or intuition would be helpful on times like these.

There are scenarios on where i did experience that selling would be ideal since the price is already on the peak even though we cant precisely predict on whats the peak price but base of in experience
you can spot out if there is already no buying power or force behind.

For me that is too technical, reading and analyzing what and when should I take profits and loss, so I usually do swing trading and get a decent amount of profits but also some small losses, I'm an amateur in trading so buy low and sell high is compatible with someone like me, I usually gain 60%-100% but it depends on how many days I'll wait. I get lucky on the altcoins which some twitter users shill and do my own research, you can try that too, find some low cap coin and fill your bag and sell when you got your ideal profit. So for me, I'm making my trades profitable through doing my own research about my investment, patience, and beginner knowledge about trading.

One way or another, the results of cryptocurrency trading depend primarily on the studied fundamentals of this activity and on their technical fundamental analysis. at the same time, you need to take risks very often and be confident in your actions. But it is very difficult and at least for me, it is very bad at it, especially today, when the market is moving up. I stopped trading Ethereum because I don't want to miss my chance if the price goes even higher and I sell coins unsuccessfully.

Hello webtricks,

Happy to share my opinion with you 

Many times I be in the same place as yours and I often get confused whether to sell or not but from my experience I have realised that it is always better to follow your targets. If your target is to sell at X price then just sell it and don't regret.
I know how it feels when the price increases more than you expect and then you regret that you could have made more if you would have hold.
But the thing is that we must be happy with what we have and never have the greed to earn more.
Selling at the target price would already get you the profits and the market always gives you the opportunity to buy back.
So the ideal thing according to me would be following your target price.

I speculate we need to have much integrity to formulate trading profitably.  We merely have to knowledge about trading, like -
Market place, Which derivative is going well in the market, A good relationship with the person with whom the bargain will take place, How to make a profit, and upgrade in trading, How to resist loss. In comprehensive, you have to very robust, efficient, and smart. It is also important to be eligible to adjust to all situations.

By simple creating a strategy on how to execute my trade. We all have different style in trading and it doesn’t matter as long as our goal is to become profitable, then it will work.

I don’t usually share my strategies in trading because of being embarrassed and to be judged by doing it, its just a simple way of buy low and sell high. I mean, you need to focus on your own no matter what people will say to you, trading is stressful so bashers are.

We all know that most of the altcoins are volatile in the market. Meaning, there is no chance for us to
determine if it is profitable or not. This will depend on our hands if We get profit or not. Besides, trading is not that easy
as others expecting it. But this trading really needs skills, understanding, and patience as well.

Well everyone has their style to trade, in my case I make sure to find the Exchange that gives me the most security in terms of tools such as making deposits and withdrawals.

For you to always have the best scenario due to your predictions you must do what Jesse Livermore did, lengthen your profits and cut your losses, many times when we place the Take Profit we leave the position, but if we withdraw 80% profit and We let the other 20% run You are already lengthening your profits, usually the traders do the opposite. In case the market goes against you, let your Stop jump, and assume the loss, it is better to assume the loss and not lengthen it or buy back hoping, it is better to cut the loss, and look for another opportunity, the market always gives opportunities.

actually trading in cryptocurrencies is different from when trading in forex, stocks or commodities...
I have worked as a stock and commodity broker but it is very difficult to apply my knowledge when I trade in crypto, if you trade coins like litecoin, bnb, eth and ripple then the political conditions of a country will not affect the price, for successful trading in cryptocurrencies so you should pay attention to changes in prices on Bitcoin.

Trading is not that hard to learn and it is profitable to everyone who are willing to learn more and become good at it.

Good decision making is always needed in order to make your plans in control and you are in the right path in your trading journey.

Just always manage to practice self-discipline and self-control to prevent having mistakes and losses that can interrupt your profits. If there's a time that you make mistakes, learn from it and don't stop trading if you are really determined to make profits and become successful in life. Mistakes are normal but if you are doing the same mistakes then that's the real problem.

In order to make trading profitable, it should've start with your knowledge and discipline.

Once you engage in trading, you should not rely on those trading bots that they say are profitable, where in reality, trading bots will just make you ignorant on how trading really works, especially if you're new in trading industry. You should gain experience and practice the strategy and master technical analysis with yourself in the market and that's how you will make trading profitable.

If you are only into the use of trading bot and you are not knowledgeable about how trading really works in the market, then good luck to you because technical analysis is the most important thing to learn at first to become effective in trading.

Trading isn't something you can read in the books. Trading isn't just learning the techniques of fundamental and technical analysis. Irony is that the bookish knowledge of fundamental and technical analysis comprises of just 20% of your trading strategy or even less. The best part comes after that. So what does an overall strategy looks like:

20% Fundamental/technical analysis
40% Risk/Reward Analysis
40% Emotional Strength

Yes this might sound absurd but truth is that other two things are more prominent when it comes to trading. Trading is just like any other business so Risk and reward analysis is very important. Many a times people analyse the stock without knowing their targets or stop losses which are too important. Now underlying concept behind is that use stocks/coins as a tool to trade not like love of your life. People tend to develop emotions for coins for example If I purchase Bitcoin now I am emotionally attached that it will go upwards now for example if for once it does reaches that point next time you would feel that bitcoin is my darling and it always reaches the point where I target so let's go for it. This is where your destruction starts

Secondly, discipline, it's a very common thing to see that coins often rise much above the metrics that you have analysed and this makes you uncomfortable about selling at a lower price but this should never happen. As soon as you close a trade just stop looking at that coin anymore. For example think of it like a train. If your journey was from station A to B why would you see the train after getting down on station B? Realize the fact that it could have happened thr other way too if you might not have sold at such price and the price went down you might lose everything. Alternatively if you really feel that you should atleast give a try to fetch such higher price you can go for trailing stop loss strategy.

Thirdly staying in the game is the most important thing so preservation of capital is of utmost important, realize it this way if you have $100 today and you lose 50% of it and come down to $100 now you have to earn a profit of 100% to go back to that point which makes it double difficult. So always stay in the mindset of preservation of capital. Keep a Maximum risk percentage you will take each day or from each trade and keep a minimum percentage of money you will earn each day or from each trade. It can be 1% or 2% but try to keep risk to reward ration at 2:1.

I hope these methods help you. Feel free to ask for guidance on any other similar issue.

With your question in mind, I don't think there's ever the right answer to it. My personal answer to that is to risk and try your luck and maybe, with the right risk management and good technical analysis, you could profit. It's never going to be a "sure" thing but it's by chance as well. If you are going with the market or against it, it's up to the market to decide.

Making more opportunities would be nice, check out this video about Gunbot to maximize opportunities too.

 https://www.youtube.com/watch?v=3-ZjI5J8_Xg

I don't think everyone can earn using a bot its not recommended to all newly traders since you can also lose big amount using a bot without a knowledge how use it.

The best suggestions is they need to learn how to analyze thing and how crypto market work before starting their journey in trading .

If I read your story in an opening post related to trading, or we focus on talking about crypto trading. Actually you have enough
accurate in predicting crypto price movements, maintain the way you analyze the market. Then the question you want to get profit
maximum, the answer cannot be. Because volatile cryptocurrency prices are too risky if we pursue maximum profit. You do not be
too greedy in the pursuit of profit, my advice in crypto trading as long as it's profit directly selling coins that you have. If you hold it
want to get a large profit the risk is very high, because the price of crypto can fall suddenly. That was supposed to profits become
losers, because delay selling your coins.

Try to use a robot for trading . I chose the CryperBot

First of all you have to realize that you should not make this kind of thing upset you, you have to learn that if you are making profit, any profit, it doesn't matter if you miss out on bigger profits. Secondly, you need to learn how to separate your profits and your capital and not make them into one big thing so that you wouldn't lose big if you are ever wrong.

When you combine these two things, put yourself a goal to make like 5% each time you trade (or change that to whatever) and stuck with that all the time, you will basically be profiting all the time without a stop anytime you see a profit to be made. Maybe you "could" make more, but that is irrelevant, as long as you are profiting that is all that matters and that is all you should be focusing on for your trading career.

I personally only invest in cryptocurrencies that have displayed a long-term bullish trend, and then I set a stop loss at around -20% compared to my entry price.

I try to go for cryptocurrencies that display less than 20% volatility over a week period and trade on high volume exchange so I don't get stopped out by scam wicks.

I also look for cryptocurrencies with a regular repeating structure in their chart, then swing trade these. If you scroll through CoinGecko you will find plenty of examples, just make sure they're not being traded on scam wash trading exchanges.

It seems you don't have a target price to sell, so you feel confused to determine when to sell. It is a problem for you, and if you still don't know or don't have a target sell price, you will not be able to sell.

Well, I suggest you make a target to sell your bitcoin so that you can close your trading with a profit, and if the price still increases after you sell, you don't have to be sad because you can make another profit in the next trade.

Trading can make someone being greedy to chase more profit, and that is why we need to have control and have a target price to sell, so we know when we need to sell bitcoin and make a profit. If you can earn 56% of profit, you should close the trade and wait for another chance to buy back bitcoin. You don't have to wait for more because that will not always happen, and if you still do, the price can get down anytime, so your chance will lose.

Candlesticks, bars, charts—all of those work but only up to a certain extent. While they convey information that are useful for your trading venture, I don’t really consider them enough to make your moves profitable. Most of the time I still look at other people’s prediction on what’s going to happen next. Then collect those information as much as I can and compare it with what i gathered so far. The reason I do this is to know whether anyone else beside me see something beyond what charts can offer, and if that’s the case, I proceed and do my move accordingly. I didn’t make much money from trading tbh, but I made enough to consider myself profitable and the venture worthwhile.