Topic: How to become a better trader in uncertain conditions! - page 2. (Read 1292 times)

one thing is always on top of my rules in trading. when in doubt don't do anything!
which means whenever i am not sure about a condition or i can't figure out what is going on and where the price is headed i will never take risks and jump in with hope, i will just stay away until i become certain.

Yes ,this is a good statement .i also loss by taking wrong decisions to sell or not sell especially when the price was a little bit dump by an hour then the buying total is something like 0.05 then 0.1 to 0.5 onwards just always they dump and dump .so i don't get the best point on what coin to be invested.

Soros did it again, lol?

9. Knowing market conditions and then getting into it. Some traders are too much into profits that they just open up a trade without seeing the profitability of that trade. Not necessary that each trade will be a win, and might cause you big loss than you expected. People thought they may make big through Brexit, it happened, but pound was bought to $1.5 before getting dumped to $1.32, the lowest, and many made huge losses by taking the wrong decision.

7. Looking back, all the pain I endured was completely self-created, as was my ability to get through it. Your trading and your results are created only by you and you alone. There is nothing else involved in any trading of any kind. My understanding came once I was willing to accept that the entire crypto market and all price action are a perfect reflection of my own thoughts. The true study of the BTC and crypto markets is the study of your own thoughts. That’s not to say technical, quantitative or fundamental analysis of the crypto markets doesn’t have its place. It’s just that people who trade greatly
overestimate their true usefulness.

8. The only way to consistent trading profits is through self-study. By that I mean real self-study. The kind that brings you face-to-face with what you don’t want to see. The kind that confronts the deepest part of who you are or think you are. The kind that causes you to change your behavior, how you spend your time, the ones you associate with; even those you love and why.

Luck word used at no6 for an irony. Of course methodical/statistical/systematical way is the only way to become a master trader.

definitely a very intriguing & abstract approach to the concept of trading. enjoyed much reading through it.

i didn't really understand what you meant in number 6.
my approach to trading has always been much more methodical/statistical/systematical (probably because that's the way i was thought;)
since i cant really include "luck" in my calculations, i personally don't consider it to be an actual contributing factor in my trading system.

I also don't trust in luck regarding my crypto trading but always watching market moves and executing orders timely always been key to me. I am still in learning phase however i came to know that patience is key in trading including alts trading by this time.

6. The harder I work the luckier I get. The secret to the crypto market is like that: right mind, right habits, right techniques over the long term will produce good results. And it is always possible to be lucky, because this approach puts you in the way of luck, whereas wrong mind, wrong techniques invite (if not create) bad luck.

If you don't have the stomach for higher risk, it might be better to wait out the period of high volatility.
Once volatility decreases, trading might become easier.

Thanks for the read offered some useful insight, enjoyed my cup of coffee over it

Here are my thoughts:

1. For the individual who is looking for some “secret knowledge” regarding the nature of price movements, I think you will be disappointed.

2. What I think about price action can be said in the phrase “ Buy low, sell high. ” When anyone asks me today, “How do you know when it’s high or low?” My answer is, “Read what I have to say very carefully.” That’s it. There is no easy way. Don’t waste your time looking for it. As you might discover, trading is really not about price action anyway. Don’t rip yourself off by trying to reinvent the wheel.

3. I hope you experience everything that I have — all the pain, the glory, the money, the broken dreams, the unexpected joy, all of it. I don’t think you will ever become a lasting success at anything, certainly not trading, until you do. The markets are the absolute best place to find what you are looking for. If you truly and completely desire to become what you could be, very few places will give you such a perfect and lasting opportunity to do so. It took me a long time to accept the lessons market offered me. But, I suspect most people won’t learn anything and will continue to do it the hard way. That is the razor’s edge. It takes a lot of effort to swing a dull axe. Be wise and sharpen the blade.

4. The raw material of your trading art is the unique part of you found within the context of the whole. No one can fully see things the same way you do. You will never see things exactly as I do. No one can take from you or me what we have paid the price to know. It ’ s my opinion that the reason so many people never become a lasting success at trading is because they have never paid the price to really know. The only reason I have achieved what I have from the markets is because I discovered the right questions to ask and eventually had the courage to answer them. What are those questions for you?

5. The fact is the markets are made up of people who all think differently for their own reasons. The only thing we have in common is that we all participate together. In this respect, it’s like riding the subway or standing on a street corner. The guy next to you could just as easily be an axe murderer or the president of Ford. Each has a different perspective of reality and what is happening around him. In trading the only thing we have in common is that we are buying and selling in the same place — each of us choosing to look at the markets in our own unique way.

Continue with the numbers...