I think the difference here is one is talking about not trading during crazy times of crypto world itself and one talks about not trading during your best hours. Sometimes, people are not on their best case mentally, you might be tired, you might be angry at something, basically you might be either emotionally or physically in best shape and that means you are not in the best time of your life to trade, trades during those times usually end up being filled with emotions and result with bad results.
However, trading during crazy crypto markets when it goes up or down a lot due to volatility could be depending on how good you are, if you are a good trader you can make profit at anytime, if you are not then it is risky. Those are very different two things and should not be mixed.
Topic: Keep proper distance but not losing passion - page 2. (Read 13447 times)
Traders should use what works for them. I don't make my trading complicated. I keep it as simple as possible. Learning trading from complicated trading methods don't work very well for me.
I agree on this because not all strategy or method that a successful gambler use may work on the other gambler, in my opinion, it is more difficult to follow what others are doing it is better to make a strategy own your own because it has higher chances of positive results.
Frankly speaking, everyone will have their own result in trading, because it is influenced by a huge number of factors, the time when a person started doing this, how much he can devote to this activity, whether he calculates well and sets goals in numbers
keep your distance from trading can be one of the strategies to get peace in trading so you can get new courage and clear mind in doing the next trade.
Maybe you mean on keep some distance on particular scenarios or situations when you do trade.If you do see that you are making some loss or wont able to perform well on your trade then its wiser to stop or pause for a while and
make yourself calm and relax and analyze on how to do the next move.
keep your distance from trading can be one of the strategies to get peace in trading so you can get new courage and clear mind in doing the next trade.
Maybe you mean on keep some distance on particular scenarios or situations when you do trade.If you do see that you are making some loss or wont able to perform well on your trade then its wiser to stop or pause for a while and
make yourself calm and relax and analyze on how to do the next move.
I seems also not all time the market can grow up each moment they will do some how it can be possible to manage some time to spectate the market growth each single day.
Its possible if you know how it is going to go one certain day. If you manage to get a tip about a certain partnership between two bitcoin giants than the market is going to go up pretty soon. Again a lot of FUD being done may crash the market and keep on bringing it down like anything. It is not possible for every trader to get such news beforehand so what I suggest is to put orders at different levels against previous buy orders. Make an excel sheet to keep track of buys done and correspond sell orders to those. In that way whatever level the price reaches to you will have some orders going out and money being made.
I think this method of yours can still work in a cryptocurrency trading if the trader does not apply margin trade, provided there is no margin trade, and one trades a reliable coin, I think we should not lose any of the order placed at those different levels, just that some might really take time to get fulfilled.
I agree with the opinion of the author, only peace of mind and time will help to earn in the market, long-term investments give more profit if you do not have enough time for daily trading and little experience
I seems also not all time the market can grow up each moment they will do some how it can be possible to manage some time to spectate the market growth each single day.
Its possible if you know how it is going to go one certain day. If you manage to get a tip about a certain partnership between two bitcoin giants than the market is going to go up pretty soon. Again a lot of FUD being done may crash the market and keep on bringing it down like anything. It is not possible for every trader to get such news beforehand so what I suggest is to put orders at different levels against previous buy orders. Make an excel sheet to keep track of buys done and correspond sell orders to those. In that way whatever level the price reaches to you will have some orders going out and money being made.
Traders should use what works for them. I don't make my trading complicated. I keep it as simple as possible. Learning trading from complicated trading methods don't work very well for me.
I seems also not all time the market can grow up each moment they will do some how it can be possible to manage some time to spectate the market growth each single day.
I get all your point and it actually made a lot of sense, but every trader have a different story to tell, everyone did not learn it in same way, like in my case, trading has always been a thing of fun especially when I was still learning, I know I lost a lot of funds but I saw it as an opportunity to even learn more and get better, it helped me not to repeat same mistake twice and made me get better.
Practice and experience are the most necessary things when you are a trader or investor. I have read many books and knowledge that I still cannot understand only when I stumble really.I think we should practice more, stumble more to become stronger in the future. That is the way I learn and it is also a way to help me grow better in the future.
Having experiences will enhance our wisdom to create liable strategies to become a successful trader. Consequently, the value of some coins are just bouncing due of price fluctuations. And trading at this moment is too risky but it is about our own dleiberation to contour the possible outcome.
I got this hint from a professional trader and this is also what I am still doing now, every time the market becomes quite risky, rather than pulling out, I use that market condition to study more, and thanks to some trading platform that has provided demo trade that one can use to learn, if one is able to overcome every challenge we encounter during this period with thorough practices, then we will surely perform to the best when we trade under normal market.
For overall learning it doesnt really necessary need to be either quiet or moving market for you to learn.
You should make yourself versatile on any situations you faced.
I get all your point and it actually made a lot of sense, but every trader have a different story to tell, everyone did not learn it in same way, like in my case, trading has always been a thing of fun especially when I was still learning, I know I lost a lot of funds but I saw it as an opportunity to even learn more and get better, it helped me not to repeat same mistake twice and made me get better.
Practice and experience are the most necessary things when you are a trader or investor. I have read many books and knowledge that I still cannot understand only when I stumble really.I think we should practice more, stumble more to become stronger in the future. That is the way I learn and it is also a way to help me grow better in the future.
Having experiences will enhance our wisdom to create liable strategies to become a successful trader. Consequently, the value of some coins are just bouncing due of price fluctuations. And trading at this moment is too risky but it is about our own dleiberation to contour the possible outcome.
I got this hint from a professional trader and this is also what I am still doing now, every time the market becomes quite risky, rather than pulling out, I use that market condition to study more, and thanks to some trading platform that has provided demo trade that one can use to learn, if one is able to overcome every challenge we encounter during this period with thorough practices, then we will surely perform to the best when we trade under normal market.
keep your distance from trading can be one of the strategies to get peace in trading so you can get new courage and clear mind in doing the next trade.
I get all your point and it actually made a lot of sense, but every trader have a different story to tell, everyone did not learn it in same way, like in my case, trading has always been a thing of fun especially when I was still learning, I know I lost a lot of funds but I saw it as an opportunity to even learn more and get better, it helped me not to repeat same mistake twice and made me get better.
Practice and experience are the most necessary things when you are a trader or investor. I have read many books and knowledge that I still cannot understand only when I stumble really.I think we should practice more, stumble more to become stronger in the future. That is the way I learn and it is also a way to help me grow better in the future.
Having experiences will enhance our wisdom to create liable strategies to become a successful trader. Consequently, the value of some coins are just bouncing due of price fluctuations. And trading at this moment is too risky but it is about our own dleiberation to contour the possible outcome.
I get all your point and it actually made a lot of sense, but every trader have a different story to tell, everyone did not learn it in same way, like in my case, trading has always been a thing of fun especially when I was still learning, I know I lost a lot of funds but I saw it as an opportunity to even learn more and get better, it helped me not to repeat same mistake twice and made me get better.
Practice and experience are the most necessary things when you are a trader or investor. I have read many books and knowledge that I still cannot understand only when I stumble really.I think we should practice more, stumble more to become stronger in the future. That is the way I learn and it is also a way to help me grow better in the future.
You don't need to run from trading, just make sure you act wise, when I mean act wise: buy bitcoin when the price reduce and sell when it goes up... With that you will make your profit.
Yes, but that will need an effort to do that because not all traders can buy bitcoin at a low price, and that is why they need to learn more about trading. Once they can know the right time to buy bitcoin, I am sure that they can be able to buy bitcoin at a low price and they will make a profit again. It doesn't matter if the profit will not bigger as the other people because you will have your time to earn a big profit in the future, especially if you can learn more deeply about trading.
I think you're saying this the wrong way. From my understanding, what you're trying to say here is that we all should stop being greedy while investing right? Cause I don't see how keeping a distance from the market and not knowing anything is going to help you become a better trader. Things doesn't work like that, if you want to be good in cryptocurrency trading then you will have to study and learn how to trade crypto and also follow up with what's trending cause that's what is going to help you know where the market is likely to head to. If you don't do these, then you're as good as a failure.
I get all your point and it actually made a lot of sense, but every trader have a different story to tell, everyone did not learn it in same way, like in my case, trading has always been a thing of fun especially when I was still learning, I know I lost a lot of funds but I saw it as an opportunity to even learn more and get better, it helped me not to repeat same mistake twice and made me get better.
Agreed. We are all came from different reasons and perspective but as long as you keep on fighting we are all the same. The temptation and the greed in this kind of industry is hard to look back and the main reason why traders are loosing their focus. If you feel that youre not doing good anymore , take a rest then go back again.
like in my case, trading has always been a thing of fun especially when I was still learning, I know I lost a lot of funds but I saw it as an opportunity to even learn more and get better, it helped me not to repeat same mistake twice and made me get better.
I understand the thrill of trading, but there is no such a thing as fun trading when you are risking your hard earned money. People thinking trading is a fun thing are mostly the ones who end up losing in the long run.A few lucky profitable trades don't make you a seasoned trader. I'm not directly referring to you, but people in general considering how they assume that trading allows them to generate an x percentage of profit per day.
The most important thing is to not underestimate the irrational nature of this market, especially with how every single crypto currency represents speculative value, and that's what most people don't seem to understand.
Crypto can always go lower, the crash from $6000 to $3000 was a brutal example of that.
It actually depends on a trader how he look at trading some may find fun will trading and at the same time gain profits while some may find it very stressful. I think the common mistake of trader that's why they lose is because most of them assumes that they can get profits easily when in fact you need to study the market very well and how it works for you to be able to make a good trade. The market is very unpredictable at times and you can't just assume that if it goes up for a couple months then that would be the trend all the time, sometimes it will drop due to a lot of factors surrounding it.
You don't need to run from trading, just make sure you act wise, when I mean act wise: buy bitcoin when the price reduce and sell when it goes up... With that you will make your profit.
defeat is not the reason for you to stop trading, in my opinion when trading has become a passion, loss is not a bad thing, but a valuable lesson for you. trading is not a place for sadness, if you have passion in it. You will be ready with all the possibilities
What is "beaten" in trading? The trader does not get defeated, but only have been fooled to put their money in the wrong place. Its another way of holding on to something that is no longer having any value. This once happened cannot be reversed back but this can be prevented in future by not buying shitcoins that have their own propaganda in promoting them over bitcoin.I would say that not everyone gets luck in trading. Yes to some extent luck needs to favour you so that you manage to get the right coins at the right time and sell at the right time too. But this needs practice and that will take time and some bad investments as mode of sacrifice.
Jump to: