Topic: How to become a successful trader (Read 401 times)

If you want to be a successful trader , then you have to focus on the process and trying to get more knowledge about it. Ask people that you think that I’ve been trading before you make sure you read books about Trading go and watch some YouTube videos online more knowledge on Trading because Trading is not something you should just go into with that having a full understanding about it, you end up losing a lot but you can be Trading why you are learning more about it, you enjoy trading them more when you understand it more better and you get more knowledge about

You are correct, since if you do not have a solid income, it is not good to engage in trading because you will not succeed, and trading is not something you would simply engage in with the expectation of making a lot of money. Trading is beneficial, but you must first have sufficient expertise before you can begin to enjoy it. It is not like other investments that you can leave for an extended period of time and earn from. I don't think if you learn trading effectively and start making money, you'll want to do anything else again, because some individuals succeed at trading and transform their lives.

The first thing I notice. If you want to be successful in trading, you should first understand how to trade for 7 to 8 months before risking your money, and second, you should have a consistent income so that if you lose, you can acquire another money to risk and get your capital back, as well as profit if he likes you again. The final thing I'll say is to be patient because if you don't have patience, you won't be able to do anything. When you fail for the first time, you may be afraid and feel you can't win in trading anymore, sometime you lose so you may learn from your mistake and correct it next time when you stake again. but put in mind that trading is not something that is easy to do and get profit easily and is high risk more then investment.

Exactly true, trading is not as easy as people might think and see the results from other people. Grading is not gambling, yes it is not gambling. If someone thinks it is gambling, then they might be lazy about studying. The combination of various efforts made, lean ring process, emotional management, and also discipline in trading is very important. If one of them fails, then what happens is that it might fail too. Moreover, all of this also affects the ability to manage the fund. And fund management is one of the key factors in trading which functions to optimize profits and minimize losses.

Success in every work requires concentration and patience. Without these two, it is not possible to succeed in any work.  Trading is no exception. Trading requires patience. And concentration. The more effort you put in, the more success you will get. And trading is all about knowing and learning. The more you know about trading, the more success you will achieve. Basics of Trading  Trading theory can be mastered by knowing the rules and practicing more and more.

Focusing on the trading we do is of course very important, even though there is still the potential for experiencing losses in the trading we do, I agree with you, even though they have become experts as traders, we cannot prevent them from losing, but by focusing on the trading we do, this will can reduce the risk of loss that we will incur.
Continuing to learn trading is of course very important even though we already have the knowledge and skills and this will really help us in deciding something when trading which will give us the opportunity to make a profit from the trading we do.

it is good you focus on the process and also the same time focus on how to make money to because if your focus is to dependent on process you might be scared of taking some kind of risk, and to reduce the amount of stress it will be much better if you just hold and have your eyes on the market. because a lot of people are scared of losing there money so it will be better to focus on holding than trading because trading needs time and you must also know how to do market analysis. because a lot of people are always avoiding losing money and that is one thing that discourages people when it comes to investing or even trading they want to make money but they don't want to lose money which is not possible.


when anyone start trading there will be series of mistakes that will be encountered but continuity you will become a master in trading and that does not make you immune to losing money because even professional traders lose money this shows that nobody is an exception to this and it shows that you are learning and you will continue to be better at what you do. because the market can change even with your analysis done, and would you give up because of a view analysis. getting deep you need to have in-dept idea of what is going on in the market, it takes more energy than when you want to  hold, holding it setting your limits makes everything very easy. compare to when you want to trade.

if you think like that, then you should save your money and not invest and trade. If you save your money, then you will not find a big risk to the money you collect. but investing and trading, still come with risks. even if you have very bad luck you can lose all the money you have collected.
I agree that trading requires a process and sufficient capital. but if it is not supported by the development of trading skills, it is the same. keep learning and trying, it will make us better. In fact, I'm sure professional traders will also continue to develop their abilities.

Well, you can't say that one wouldn't have any loss if they stayed focused but it can reduce the potential losses they could get if they weren't completely focused. A trader can't trade without any losses at all, even if someone is an expert in the market, they will still have losses because you can't be right all the time, especially when you are in such a volatile and unpredictable market.

You are right about focus being a necessary aspect if someone wants to be successful in something, especially if it's something where you need to keep yourself updated with what's happening. When we talk about financial markets such as cryptocurrency market, one needs to know every single thing happening to be able to gain success.

That's right, bro, because all of this requires process and struggle, it is impossible for us to be immediately successful without process and struggle, in achieving all of this we must be consistent and learn from the failures we have experienced in the past.

Having sufficient capital, we can think ahead by allocating our funds for investment, so that we can manage them enthusiastically without feeling like giving up, because life in the future will be more difficult when we don't have enough savings.

Having money is an advantage, so we can easily grow an investment opportunity if we know it will cause growth in the capital that we have. Of course, it is necessary to be wise in choosing
the investment that we choose to make.

As long as we are always ready for the investment we will make, we must be willing to take risks in any investment that we allocate our capital to.
That's just what we always do as capitalists, right?

Trading is easy for those who have a lot of money and don't really need money in the real world so that when their money is trapped in the market it doesn't make them feel stressed. Many of them fail to become traders because they often panic when they see coin prices collapse and sometimes buy the wrong coins and even the trading method they use is very risky. One of them is the future trading method which can eliminate assets quickly.

They think that crypto is a classy way of earning money and becoming rich overnight. There's always the thought from the newcomers and sees crypto people have become rich doing that. They don't know that it's the same for everybody, you need to be knowledgeable as a trader and you need to be patient as an investor. So either of the two, they don't come easily and they have to grind all of their might until they reach to that point that they can make the actual easy money from the knowledge they have as a trader.

that's how it should be. We prioritize first exploring insight and experience in trading itself. enjoy the process and stay focused on the process itself. The most important thing is that we can be disciplined in learning everything from the start. Don't rush to get big profits in the near future because this will only put us at greater risk of experiencing greater losses. There are many things to learn. In fact, it starts from the management or financial management itself, which we allocate for trading capital itself. And after that we also have to be good at managing our emotions or psychology in trading itself. Because a trader's biggest enemy is actually uncontrolled emotions. Therefore, emotional management must be done and must be learned from the start. If not, we will only become traders who panic easily and become greedy. and fear and greed are two things that make a trader unsuccessful in trading. I personally may not be very good at trading. but I keep learning and learning. And we must be aware of our own limitations. And never force yourself. For example, in terms of capital, we can only use money that we can afford if we have to suffer a loss.

Even though these are the basics to becoming a successful trader most persons still feel that trading is so easy the way most influencers make it to, I have seen alot of traders online that flaunt their success stories and sometimes it just baffles me to actually see if these guys actually legit because I know trading takes alot of time and even years to develop that skills that can then yield profits for you during your trading sessions but also this sweet quick stories pushes alot of traders to do rubbish and then lose their funds especially the new ones.

The process in trading is learning. Learning is very important in trading and it can never be taking for granted. Learning makes trading outcomes to be successful and interesting. But it is so unfortunate that most beginners find learning boring and sees it as not process for trading . Learning being the process of trading is more important than money, because without the understanding of trading you can lose all the money you have put in trading. When it comes to trading money is the last thing to think about because when money is put as the priority and the main aim you would lose it all.

Learning is the principal thing in trading and it is not just about learning about trading strategies but also to understand and practice some habit that can make you to be successful in your trading, that's is why beginners needs to dedicate their time to learn because it has to do with the trading ideas and the characters that are involved in trading to be a successful trader. Their is no succcess in trading without having the right knowledge about trading.

Hmm, interesting well success and failure contain different factors ranging from your timeline, your mental level, your control over the decisions, your daily life etc etc. Hmm in every trade there is the contribution of 10% luck, 30% analysis, 40% discipline, and 20% emotional control haha this is my personal theory to execute a trade, hmm we can categorize some other factors under these terms as well. 

Being good and being a teacher are different, a lot of friends that I have who are great at trading can't explain what they are doing if their life depended on it, so most traders haven o idea. Some try, and some do teach others and they do a good job, but not all and most of them are just doing things because their brain is wired in a way that understands and grasps the inner workings of a market which makes them be able to trade very well.

This is quite good and I do applaud them for their talent and skills, but that doesn't mean all of us can be like that. Not being able to trade is fine, you can't play basketball like Lebron James neither, you can go ahead and pick up a ball and shoot, it takes like maybe 15 minutes to go to the park with hoop in my hood, can I be able to play like him? Of course not, so why would I worry if I can't trade like professionals then?

those are good to have background for trader.
usually it just requires knowledge and capital to succeed, what make trading difficult is probably the capital that it requires many people afraid of losing the capital so they make worst decision.
education in this case is not really needed but its always good to have you know having education and all.
moreover, what is the definition of successful trader here means anyway.
it could be some people with good career doing trading as their side job and they could easily be included in the category of successful trader since they are well off and still trading anyway.

Focusing on the process will make us have basic skills in trading. A trader's success depends on a combination of technical skills and fundamental analysis and this will be achieved if we focus on the process, this takes quite a long time so we have to be patient. This analytical ability will help a trader to determine the most appropriate decisions rationally, not just based on feelings which have a high possibility of error. This does require patience and difficult emotional control. A successful trader certainly has a lot of experience in terms of knowledge and experience.

Why what do you think of other people? Lazy? There are but not all of them. And what about those who are successful already? I don't think he can surpass their learnings just like that. Dedication in trading is even better but not all can do that because they also have their own obligations in life. When we are starting, it's fine to not think and pressure our selves of becoming a successful trader because like you said, it is not easy and even if we are already good at trading, the real definition of a successful trader is still different or far away from it.

Finally, trading is not gambling that you can just place a bet and still expect to win even without having an understanding in the game. If your approaches are meaningful in terms of analysis then you can easily hit success in crypto trading.