Is it just me? Labelling it with such system makes it sound like a scam that we usually see on the web.
However, it is true that it all comes with a strategy or you call it a system.
There have been too many traders that think trading is an easy thing and profitable without having solid foundation and knowledge.
But little did the know, they have to go through extreme losses before understanding the profitable strategy that they will come up with.
Topic: My trading constitution. (Read 791 times)
If you don't think about your profit or loss before trading, how can you proceed with trading? Check and trade for a long time, of course we will get proper success. Trade many times even big traders lose patience so we should not lose patience if we can trade patiently with long term investment then we can build our life beautifully from this trade
legendary
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But it is not an easy thing to just know you need to buy low and sell high. How can you execute that if you don't know when the price of the market will be considered low now and later on it will go up?
When the bitcoin price drops below 60k, it is a buying signal and if it further 55k and so on, you should definitely be buying. If it continues to drop, ration your available funds into different buying levels as the price continues to drop. Follow this till you are out of cash to spend on buying from your allotment.Now the selling starts when you start to break even from each level. Keep the least price of buying held back for the maximum profit form that and you can start selling the rest of the positions.
This is one summary of how to apply a buy low sell high method, there are variations to this and you can modify this as per your funds and needs.
I've come to understand that psychology plays a significant role—about 90%. However, I've realized the importance of having a profitable system as the foundation.
That profitable system that you all are saying is about the strategies that you're going to apply in trading. There's so much to look at with all of these "systems" and "strategies". But the important part here is how profitable they are. Because if they're not profitable at all, you need to make sure that they've been tested and whichever works for you, that's the actual thing that you've been looking for and can that it is your profitable system as the backbone of why you're into trading because you've discovered how to be profitable on it.
Trading completely depends on your own skill. The more skill you have, the more likely you are to profit from trading. Most of us traders take trades based only on a guideline rather than using our skills. The guideline is that the price of a coin has gone up a lot and has gone from a lot up to a lot down. But the trading system does not follow this principle at all. A person has to acquire adequate knowledge about trading only then that person becomes fully skilled about trading.
The only skill one needs is buying low and selling high. Keep patience through through the price changes and you will do well in the long run. Trading is a long term game not a one day affair hence patience becomes very important.This becomes complicated if you are going with altcoins trading and not keeping yourself limited in the number of assets. The altcoins carry higher risk and the risk appetite of every person varies. Traders learn this over time and it's vital to recognise - most traders can handle the stress only if they are doing this well.
I've come to understand that psychology plays a significant role—about 90%. However, I've realized the importance of having a profitable system as the foundation.
That profitable system that you all are saying is about the strategies that you're going to apply in trading. There's so much to look at with all of these "systems" and "strategies". But the important part here is how profitable they are. Because if they're not profitable at all, you need to make sure that they've been tested and whichever works for you, that's the actual thing that you've been looking for and can that it is your profitable system as the backbone of why you're into trading because you've discovered how to be profitable on it. legendary
Activity: 2828
Merit: 1213
Call your grandparents and tell them you love them
I've come to understand that psychology plays a significant role—about 90%. However, I've realized the importance of having a profitable system as the foundation.
The mindset needs to be fixed and then it is no longer in conflict, this is what I have seen. If you are knowing that the bullmarket is the time to sell and not buy like FOMO-madman, you are doing it correct and the opposite in the bearmarket, although the crowd sentiment might be different. This applies to bitcoin and all the big company stocks, because they are here for the long term.This may or may not work for altcoins and shitcoins, which I never recommend to a newbie or even a veteran trader.
Also patience is essentially important to be able to time your trades properly.
I've come to understand that psychology plays a significant role—about 90%. However, I've realized the importance of having a profitable system as the foundation.
I liked this thought and i'd like to add that:
The longer you trade, the higher your confidence
How do you deal with your mistakes and what happens with them?
It is important to remember that trading is not a sprint, a marathon and loss is a neccesary part of it.
Seeing other people trade and trading by yourself are two different things.
90 percent includes very subjective.
Why not 91 or 60?)
But I agree that trading is a very emotional thing and a lot depends on psychology
Confidence should be tied to our competence, a trader with years of experience and good results on this market has all the right to be confident as they know they have the skills to back that confidence.The longer you trade, the higher your confidence
How do you deal with your mistakes and what happens with them?
It is important to remember that trading is not a sprint, a marathon and loss is a neccesary part of it.
Seeing other people trade and trading by yourself are two different things.
90 percent includes very subjective.
Why not 91 or 60?)
But I agree that trading is a very emotional thing and a lot depends on psychology
But many newbies have all the confidence on the world about the potential they have to obtain a good performance, but that confidence is completely out of place as they do not have the skills to justify it, and when the market proves them wrong they still have the nerve to think the market is wrong and they should become profitable given enough time, a mistake as they are not willing to change their ways and improve due to their overconfidence.
I agree with you. This is what I said, experience and a good result give self-confidence. It is worth noting that a good result may not come immediately.
As for newbies, the longer they think they're right and the market is wrong, the better it is for the whole market because someone has to lose money so someone else can make money.
I keep my patience consistent thinking long term investment thinking rather than short term investing. I think with these principles I will achieve success in my trading at some point.
Long term investment is better than short term investment. In long term investment you stay calm and don't get disturbed by various news in the market. You know that no matter how much the market falls, your investment is not for a short period of time but for a long period of time that you will have to wait for. It does not affect the affairs of your life.
Whereas in short term investment you are constantly connected with the market. Sometimes your fear increases when the market falls due to any bad news.You have to keep yourself updated with every moment of market news and constantly monitor the market.Sometimes, contrary to our expectations, our guesses may turn out to be wrong. The point is that short-term trading requires you to be very mentally engaged.So you are right that long term investment should be preferred over short term investment.
Trading is 90% psychology, but
- you can't build confidence without a profitable system.
- you can't have consistent gain without a profitable system.
- you can't be disciplined without a profitable system.
- you can't win without a profitable trading system.
Trading gives you money, in order to to protect your money risk management is paramount.
I have a different view mate. You can build confidence without a profitable system, You need discipline to build a profitable system, You can have a consistent gain without a profitable system but those consistent gains don't happen frequently and it doesn't last too. A profitable trading system when the trader have a plan as well winning strategy.- you can't build confidence without a profitable system.
- you can't have consistent gain without a profitable system.
- you can't be disciplined without a profitable system.
- you can't win without a profitable trading system.
Trading gives you money, in order to to protect your money risk management is paramount.
So trying to gain confidence and confidence alone is a completely useless exercise, as a trader could have all the confidence on the world, but if their skills are not up to par then soon enough the market will remind them their confidence is unjustified.
legendary
Activity: 2828
Merit: 1213
Call your grandparents and tell them you love them
Trading completely depends on your own skill. The more skill you have, the more likely you are to profit from trading. Most of us traders take trades based only on a guideline rather than using our skills. The guideline is that the price of a coin has gone up a lot and has gone from a lot up to a lot down. But the trading system does not follow this principle at all. A person has to acquire adequate knowledge about trading only then that person becomes fully skilled about trading.
The only skill one needs is buying low and selling high. Keep patience through through the price changes and you will do well in the long run. Trading is a long term game not a one day affair hence patience becomes very important.This becomes complicated if you are going with altcoins trading and not keeping yourself limited in the number of assets. The altcoins carry higher risk and the risk appetite of every person varies. Traders learn this over time and it's vital to recognise - most traders can handle the stress only if they are doing this well.
Every trader has his own trading constitution. I also have my own trading constitution which I always try to follow. As per my constitution I try to approach financial markets with disciplined knowledge and long term perspective. Before I invest anywhere I independently do my thorough research and analysis. I follow risk management strategies and do thorough research while reinvesting. I think I learn from the financial losses I incur through trading to improve my future performance. I try to stay aware of market trends global events economic indicators and above all I keep my patience consistent thinking long term investment thinking rather than short term investing. I think with these principles I will achieve success in my trading at some point.
It is great that you have your own trading philosophy and approach the markets with knowledge discipline and a long term outlook. Your dedication to making well informed decisionand safeguarding capital is evident in the substantial independent research and analysis you conducted before making an investment as well as in how closely you followed risk management plans. A key skill is the ability to use financial setbacks to better one performance moving forward. You stand out because of your knowledge of market trends world affairs and economic indicators as well as your persistence and persistent long term investing thinking. You improve your chances of succeeding in trading by remaining informed and avoiding short term thinking. You are on the correct track to achieving your trading objectives if you are persistent and apply your trading constitution. 
Trading is 90% psychology, but
- you can't build confidence without a profitable system.
- you can't have consistent gain without a profitable system.
- you can't be disciplined without a profitable system.
- you can't win without a profitable trading system.
Trading gives you money, in order to to protect your money risk management is paramount.
It gives me the feeling that I'm reading an advertisement that I used to see on pop up ads on websites that are partnered with Google ads. They keep on telling about profitable system.- you can't build confidence without a profitable system.
- you can't have consistent gain without a profitable system.
- you can't be disciplined without a profitable system.
- you can't win without a profitable trading system.
Trading gives you money, in order to to protect your money risk management is paramount.
But actually, it's true that when one doesn't have that. Well, that means that there's no profit at all and it's a struggle for that trader.
And for one to learn that, it requires experience and capital and upon having those, it's true that risk management is also a must.
Trading completely depends on your own skill. The more skill you have, the more likely you are to profit from trading. Most of us traders take trades based only on a guideline rather than using our skills. The guideline is that the price of a coin has gone up a lot and has gone from a lot up to a lot down. But the trading system does not follow this principle at all. A person has to acquire adequate knowledge about trading only then that person becomes fully skilled about trading.
Well, the results depend on these things;- skills/strategies
- knowledge (this includes TA)
- market approach or decision making
And we only gain success when we don't stop learning and investing more time in doing this. More experience - more knowledge which means that learning instantly is impossible but we could get this along the way while we are still active in trading. That is why we can't expect instant success while we are newbies, that will take time.
Trading is 90% psychology, but
- you can't build confidence without a profitable system.
- you can't have consistent gain without a profitable system.
- you can't be disciplined without a profitable system.
- you can't win without a profitable trading system.
Trading gives you money, in order to to protect your money risk management is paramount.
Trading completely depends on your own skill. The more skill you have, the more likely you are to profit from trading. Most of us traders take trades based only on a guideline rather than using our skills. The guideline is that the price of a coin has gone up a lot and has gone from a lot up to a lot down. But the trading system does not follow this principle at all. A person has to acquire adequate knowledge about trading only then that person becomes fully skilled about trading. - you can't build confidence without a profitable system.
- you can't have consistent gain without a profitable system.
- you can't be disciplined without a profitable system.
- you can't win without a profitable trading system.
Trading gives you money, in order to to protect your money risk management is paramount.
Every trader has his own trading constitution. I also have my own trading constitution which I always try to follow. As per my constitution I try to approach financial markets with disciplined knowledge and long term perspective. Before I invest anywhere I independently do my thorough research and analysis. I follow risk management strategies and do thorough research while reinvesting. I think I learn from the financial losses I incur through trading to improve my future performance. I try to stay aware of market trends global events economic indicators and above all I keep my patience consistent thinking long term investment thinking rather than short term investing. I think with these principles I will achieve success in my trading at some point.
- you can't build confidence without a profitable system.
How do you try to build a profitable system and do you know that trading doesn't always turn out to be profitable? Trading is not always considered suitable for some people because there are many things that need to be learned.Trading gives you money, in order to to protect your money risk management is paramount.
Management is needed in trading and skill is one that will bring us to the stage of making profits and risk management is an important force that can limit one's psychology to what will happen in trading. You have mentioned the system many times in the discussion and I also want to know what system do you mean?Trading does not always make money when we do not have basic knowledge and even people who have experience in trading are also unable to avoid losing money at certain times.
Trading is 90% psychology, but
- you can't build confidence without a profitable system.
- you can't have consistent gain without a profitable system.
- you can't be disciplined without a profitable system.
- you can't win without a profitable trading system.
Trading gives you money, in order to to protect your money risk management is paramount.
I have a different view mate. You can build confidence without a profitable system, You need discipline to build a profitable system, You can have a consistent gain without a profitable system but those consistent gains don't happen frequently and it doesn't last too. A profitable trading system when the trader have a plan as well winning strategy. - you can't build confidence without a profitable system.
- you can't have consistent gain without a profitable system.
- you can't be disciplined without a profitable system.
- you can't win without a profitable trading system.
Trading gives you money, in order to to protect your money risk management is paramount.
Trading is 90% psychology, but
- you can't build confidence without a profitable system.
- you can't have consistent gain without a profitable system.
- you can't be disciplined without a profitable system.
- you can't win without a profitable trading system.
Trading gives you money, in order to protect your money risk management is paramount.
What do you mean by profitable systems, I hope you don't mind giving further explanation to that since it seems you have been mentioning it over and over again and if you don't give further clearance to what you mean it becomes obvious that you may not get the right replies for this thread. - you can't build confidence without a profitable system.
- you can't have consistent gain without a profitable system.
- you can't be disciplined without a profitable system.
- you can't win without a profitable trading system.
Trading gives you money, in order to protect your money risk management is paramount.
At some point, I thought what you mean by a profitable system is a workable trading mechanism or skills that give constant profits.
However a trading system is not everything, because if it was then becoming a winning trader would be as easy as just finding those steps and follow them no matter what, but there are many traders out there with solid strategies that still lose money even with such system, so we need to find another way to explain the failure of those traders other than blaming their strategy.
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