One of the Best Weapons in Trading - page 2.

TheUltraElite

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Quote from: quality.crypto on May 12, 2020, 09:01:37 AM

Trading is a completely different job which the traders need to analyze the market situation, technical analysis and fundamental analysis are always needed in trading.

It is a risk vs reward system of money making. Will not call it a job unless someone is doing it for earning their daily bread, or they are paid to trade on behalf of someone like a financial advisor/investment bankers.

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Without these skills, it is impossible to survive in the crypto market.

Its not just crypto market, without skills you wont survive in any sort of job. If you are learning something new, unless you have a passion for it and are able to develop the skills, it will be job that you will hate. Now trading is a bit different here because there is a risk involved and in a job the risk is lesser.

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Yes, some traders will always gambler with their money in order to make huge profits.

There is a difference between betting on prices and buying/selling assets. The second one is spot trading and that is less likely to be a gamble if you do your research first. The futures and options market are more of a gamble, though analysis helps.

rexxarofmoknathal

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Quote from: TheUltraElite on May 12, 2020, 01:56:49 AM

Quote from: ?? on ??

Just stop buying when the market is high and keep collecting powerful coin to trade when the price is low wo awareness and knowledge is the best weaphon according to me.

I think is it not right to call powerful or not powerful. It is a question of performance and through bull and bear markets is what defines it.

Knowledge or fundamentals is important but to what extent the market is going to move is somewhat understood from the technicals though I tend to take TA with a 50% grain of salt. Grin

I would not say either of them as a weapon. But different tools that can give you an insight. What is important is that you have a set target to buy and another to sell. Be sure to modify them but dont stretch them to unreacheable proportions. Taking these decisions need the help of data from past charts.

I agree with the above in that there isn't an ultimate weapon one can use to always be successful in trading since it is all dependent on the market highs/lows. What I'd say is of extreme relevance is the ability to read and understand the trends or even spot them and act accordingly to minimise loss. Knowledge thus is by far the best more robust avenue to ensuring success in trading, and all of it is irrespective of the exchange platforms used!

quality.crypto

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Quote from: AakZaki on April 23, 2020, 10:02:43 AM

Quote from: GreatArkansas on April 22, 2020, 10:09:30 AM

Lol. I don't believe in LUCK on trading, especially you are in cryptocurrency trading.
Doing trading needs a skills and you should love it. If you want luck in trading, much better go play a dice game in some casino.
Even a lot of people saying trading is like gambling, well there's some points but still, a skilled trader way greater than lucky person.

What you say is true, friend. That in trade there is no luck but skill.
Because basically trading requires technical or fundamental analysis. It is not uncommon for me to say that those who trade but cannot conduct technical or fundamental analysis I say they are gambling traders.

Trading is a completely different job which the traders need to analyze the market situation, technical analysis and fundamental analysis are always needed in trading. Without these skills, it is impossible to survive in the crypto market. Yes, some traders will always gambler with their money in order to make huge profits.

TheUltraElite

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Quote from: ?? on ??

Just stop buying when the market is high and keep collecting powerful coin to trade when the price is low wo awareness and knowledge is the best weaphon according to me.

I think is it not right to call powerful or not powerful. It is a question of performance and through bull and bear markets is what defines it.

Knowledge or fundamentals is important but to what extent the market is going to move is somewhat understood from the technicals though I tend to take TA with a 50% grain of salt. Grin

I would not say either of them as a weapon. But different tools that can give you an insight. What is important is that you have a set target to buy and another to sell. Be sure to modify them but dont stretch them to unreacheable proportions. Taking these decisions need the help of data from past charts.

milandres0207

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Using stop-loss I guess was really an effective tool to use when we do trade in the actual platform.
Thanks for these very good tips, Sir. I will keep trying to understand all the information you've posted
here in this section thread.

Spaffin

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Quote from: GreatArkansas on April 23, 2020, 08:32:20 PM

Thanks for understanding it. That's why I made this thread to help some traders there to use some tools or ways to improve their trading skills. We don't need luck here.
I don't agree with you they are gambling traders, but we can re-phrase that, the term could be more like "wasting money", "giving away money", in short, it is much better to do it on some gambling websites if they want to use the luck on trading.

With experience and good knowledge in cryptocurrency trading, each trader will be able to get very good income from their activities. But the results of this work may vary depending on a combination of certain circumstances, which are quite a lot and quite often on the cryptocurrency market. it is this circumstance that can bring a trader luck or failure. therefore, I do not agree too that luck does not exist in trading. Of course, the Results will depend on What actions a trader will take in the event of a successful set of circumstances on the cryptocurrency market.

GreatArkansas

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Quote from: AakZaki on April 23, 2020, 10:02:43 AM

Quote from: GreatArkansas on April 22, 2020, 10:09:30 AM

Lol. I don't believe in LUCK on trading, especially you are in cryptocurrency trading.
(...)

What you say is true, friend. That in trade there is no luck but skill.
Because basically trading requires technical or fundamental analysis. It is not uncommon for me to say that those who trade but cannot conduct technical or fundamental analysis I say they are gambling traders.

Thanks for understanding it. That's why I made this thread to help some traders there to use some tools or ways to improve their trading skills. We don't need luck here.
I don't agree with you they are gambling traders, but we can re-phrase that, the term could be more like "wasting money", "giving away money", in short, it is much better to do it on some gambling websites if they want to use the luck on trading.

AakZaki

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Quote from: GreatArkansas on April 22, 2020, 10:09:30 AM

Lol. I don't believe in LUCK on trading, especially you are in cryptocurrency trading.
Doing trading needs a skills and you should love it. If you want luck in trading, much better go play a dice game in some casino.
Even a lot of people saying trading is like gambling, well there's some points but still, a skilled trader way greater than lucky person.

What you say is true, friend. That in trade there is no luck but skill.
Because basically trading requires technical or fundamental analysis. It is not uncommon for me to say that those who trade but cannot conduct technical or fundamental analysis I say they are gambling traders.

CHENIEN

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practically, a lot of experience in business is the best weapon it's because more accomplishment in trading satisfaction is a very useful command to gain more ability in trading, so if you have it you will, actually so many successful business owners start with small and endured until it grew up therefor if you are a newbie in the field of the crypto world you should never mind the pain and stress.

dunfida

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Quote from: GreatArkansas on April 22, 2020, 10:09:30 AM

Quote from: ReiMomo on April 21, 2020, 06:16:04 AM

Quote from: GreatArkansas on April 21, 2020, 06:01:40 AM

~snip~

Maybe you were right that patience and discipline are a must in trading but I don't see any reason that this makes become the best weapon. Probably for me the best weapon is "luck" and followed by "skills", once you have this since the start when you are in trading. Well, trading is for you and you may continue your journey in trading. But if you don't, stop, and find another way of earning money because trading is not for you.

Lol. I don't believe in LUCK on trading, especially you are in cryptocurrency trading.
Doing trading needs a skills and you should love it. If you want luck in trading, much better go play a dice game in some casino.
Even a lot of people saying trading is like gambling, well there's some points but still, a skilled trader way greater than lucky person.

People do really have these kind of perceptions and you can differentiate between a true trader than to those who do trade blindly or just purely relying on luck.

SL are one of the best tools specially when you do make active trades but if you do go for long term then it isnt really that needed.There are lots of tools needed for you to

survive this market and not just jumping into the water without any proper preparation.It might not be precise but it is way more better than have no basis at all.

Market is always been unpredictable even how good our analysis are but at least chances on making profit is there and not just relying on intuition or guts.

SolarWindMiningCompany

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Stop losses are as important as a good entry point and exit point. Once a trader has built enough discipline, it is the life saving move for him. Most times naive traders wait out a trade to pump back before selling (which works sometimes). But history has taught me that accepting my loss early enough at maybe 5% helps me in two ways
1. I restrategize early and find another good reentry point
2. I don't lose majority or all of my funds if the coin tanks 1000%. So technically, on a long run, stop loss trader always come out better

MCobian

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I strongly agree that stop-loss is the best weapon in trading. Because stop-loss can save the capital we have, with stop-loss when
the market suddenly drops in price, the losses we experience can be minimized. Therefore trading without stop-loss is very risky
at all, because we could be threatened with losing large amounts of capital. With stop-loss also avoid we hold coins for a long time.

GreatArkansas

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Quote from: ReiMomo on April 21, 2020, 06:16:04 AM

Quote from: GreatArkansas on April 21, 2020, 06:01:40 AM

~snip~

Maybe you were right that patience and discipline are a must in trading but I don't see any reason that this makes become the best weapon. Probably for me the best weapon is "luck" and followed by "skills", once you have this since the start when you are in trading. Well, trading is for you and you may continue your journey in trading. But if you don't, stop, and find another way of earning money because trading is not for you.

Lol. I don't believe in LUCK on trading, especially you are in cryptocurrency trading.
Doing trading needs a skills and you should love it. If you want luck in trading, much better go play a dice game in some casino.
Even a lot of people saying trading is like gambling, well there's some points but still, a skilled trader way greater than lucky person.

CarnagexD

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When I got started into the world of trading it takes a lot of problems because in the world of trades it is hard I thought on the first thing on trading is just predicting the market price of the coin on the first week in the start I always earned a lot of profit but in the next few weeks I lose double on my investment because I'm not mentally stable and this is quite bad because of something problem but still ignore those and I start in trading then I lost on the first trade in the next coming trade becomes stable and after I lost for over two times for the consecutive trades in loss to and I make a double wage that is not a good plan and lose now I'm holding a lot of coins because having a bad trades and it takes a lot of time before I do some changes and to make earnings.

rexxarofmoknathal

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The stop loss feature can be life saving. It's true, that when the market allows this can easily be used for any trader but unfortunately its limitation comes into existence once the market fluctuates in an irregular pattern and frequent basis. This is why even with stop loss I can't always guarantee profit, though at times using it does put my mind at ease Cool

TheGreatPython

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Quote from: bitgolden on April 13, 2020, 11:41:40 AM

Quote from: Mahanton on April 11, 2020, 05:35:05 PM

I would rather choose to hang on a thread for longer rather than considering on selling up on a loss.

This is what most of the traders are doing because they are more confident about bouncing back of the market. I guess it will be possible only for crypto trading and for any other trading you must exit at stoploss so that you can minimize your losses and you will get another chance to recover your losses.

Yes when trading bitcoins, we can be confident about market to turn in our favor because bitcoin markets are usually highly fluctuate which will lead to escape at margin levels at least. So, for the most cases of crypto trading, I am not considering stop-loss as a weapon to safe guard our capital. Instead of that, if you exit at stop-loss and you watch market to bounce back then that will lead to big regret which again lead to not trading for the rest of the day.

Stop-lost may seem an essential when market turns unexpected like how bitcoins market did on the news of corona out break, it lost more than 35% within a day; it means if we do not exit at stop loss then we might have lost our capital more than 35%.

ReiMomo

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Quote from: GreatArkansas on April 21, 2020, 06:01:40 AM

~snip~
Patience and discipline is an extremely important weapon but we should also practice some technical side, we need to use some of them to help our trading life better and will that will help our emotionally or mentally side.

Maybe you were right that patience and discipline are a must in trading but I don't see any reason that this makes become the best weapon. Probably for me the best weapon is "luck" and followed by "skills", once you have this since the start when you are in trading. Well, trading is for you and you may continue your journey in trading. But if you don't, stop, and find another way of earning money because trading is not for you.

GreatArkansas

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Quote from: Latviand on April 20, 2020, 03:27:20 AM

For me, the best weapon is patience and discipline. You can't be successful in trading if you're greedy enough to have a transaction even if it is not the right time to trade. (...)

That is already given and always should do before we started to trade. And it's on the more emotional or mental side which we can adapt by ourselves.
Patience and discipline is an extremely important weapon but we should also practice some technical side, we need to use some of them to help our trading life better and will that will help our emotionally or mentally side.

Latviand

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Quote from: GreatArkansas on August 07, 2019, 08:09:48 PM

Quote from: DdmrDdmr on August 07, 2019, 07:25:33 AM

The market-stop-loss option is what I thought would happen, rendering as a result option “A” with results such as those you mention (an additional 2,56% loss from the intended target sell value).

That's why some margin trading exchanges have this market stop-loss to avoid some liquidation on massive flash dump/pump of a particular coin. And additional, as far as I know, the market-stop-loss has much higher fee compare to limit stop-loss, so they have some advantages and disadvantages.

Quote from: Indamuck on August 07, 2019, 08:11:42 AM

If your in any good coin it will always rebound if you are patient enough to wait it out.

Yep, we can't really predict it. As I also experienced last few months, I have this particular coin which I bought and I decided not to put any stop-loss after buying it and look at the price now, I already lost 80% if I will sell it now, so I have no choice but to HOLD it until it will come back to my entry price or above, 4months already Embarrassed

.

For me, the best weapon is patience and discipline. You can't be successful in trading if you're greedy enough to have a transaction even if it is not the right time to trade. You need to have good predictions and technical analysis because it will serve as your guide and hint on when to have a proper transaction. You should not execute your strategies and technique without basis, because it will make you end up being a loser. In order to win, you need to become used to the predictions and understand how market moves. There are people who prefer to hold until the right time and they don't want their money to circulate in the market and it depends on you if you are really confident enough with your decisions.

TheUltraElite

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Quote from: Mahanton on April 11, 2020, 05:35:05 PM

I agree to this sentiment thats why i do seldom make use of lots of TA's or indicators when it comes to predicting price

Though I would suggest you to learn about indicators more often. They are useful but not everytime. Something like a gut feeling at times and sometimes completely opposite. Knowledge on how to use them will not go in vain though.

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but somewhat i do simply make use of support and resistance lines and dont make or use much other than that.

For the general hodlers that is enough IMO. You buy low and sell high. But most dont even buy low, they end up buying high and get stuck. Then they are trying desperately to get out of the market so things like waiting on technicals, getting scammed by fake telegram signal groups keep happening. Tongue

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SL are good to minimize loss but i do see this is more relevant when dealing with traditional markets but for crypto? I would rather choose to hang on a thread for longer rather than considering on selling up on a loss.

Holding the coins for a better price is a right decision. But this becomes difficult for those who dont have a strong belief on bitcoin and fear what will happen to it in future.

Topic: One of the Best Weapons in Trading - page 2. (Read 1079 times)