Topic: Patience is the main key of success on trading platform. - page 10. (Read 1678 times)
The problem is we dont know how high the price will to go when uptrend. But the solution we can use trailling stop and for take profit is open so when the coin keep pumping we can maximize the profit.
Patience is just part of how to be a good trader. You also need a lot of knowledge in trading to be successful. You need to anticipate the market condition after placing a Sell or Buy order, patience alone can't help you with that, you need to learn how to use tools and read graphs to better anticipate what will happen next when hitting that Buy or Sell button.
Patience, indeed, is key and the can't be truer when it comes to the markets. We tend to have great plans and strategies, but don't have the patience to wait for those strategies to play out. In the time I have traded in the markets, I have realized that the market rewards only the patient. When I started learning to control my self and follow my strategy, I started becoming successful. Great traders like Anil mangal mastered their techniques but even they would agree to the fact that patient is the key to success in the markets
He is correct. The reason why 99% of the retail traders have trouble making any money in the markets whether its Crypto or Stock or Metals or Oils is because they are impatient and they don't want to wait.
Basically I was like this also. I bought one stock, it didn't go up the next day so I sold it and bought another. That stock didn't move either, so I sold it and bought another. Eventually I was losing money due to commissions and spread even though the stock hasn't moved at all. Then looking in hindsight if I only held the stock a couple weeks, I would of made some money.
This is also largely that most retail traders only have a few hundred or thousands of dollars in the markets. So if you are trading stock, you can't buy any more than 1 or 2 stocks at a time, even on margin. So you are sitting around waiting and its easy to get impatient. So this is why having more capital sometimes help in trading.
Basically I was like this also. I bought one stock, it didn't go up the next day so I sold it and bought another. That stock didn't move either, so I sold it and bought another. Eventually I was losing money due to commissions and spread even though the stock hasn't moved at all. Then looking in hindsight if I only held the stock a couple weeks, I would of made some money.
This is also largely that most retail traders only have a few hundred or thousands of dollars in the markets. So if you are trading stock, you can't buy any more than 1 or 2 stocks at a time, even on margin. So you are sitting around waiting and its easy to get impatient. So this is why having more capital sometimes help in trading.
I too and often experience the same thing as you, where I am always sorry after the rush to sell for fear of losing. But now I keep trying to learn from my mistakes and hopefully I can succeed in starting now and can control my panic.
Panic selling will kill the profits of a trader.So you need to have some desired profit to achieve for your holding which is the way you can avoid about the market situation.
With patience, we can be able to set our time and our mind to think the next step and we can analyze the market better than the others. The patience will only works good if we know how to control ourselves in the trading and we will avoid to make a mistake. We will be able to see the chance in the market and the important thing is we can always solve the problem especially if the market moves unpredictable.
well, patience can give maximum results, but you have to know that not everyone who can control his patience and the price movement of cryptocurrency does not rely on patience because prices will not rise if no one buys, so try to invite your friends to buy coins that you have so that the coins you have can be sold and you get profits.
I believe everyone know about this sentence, "patience is the main key of success of trading platform". But I am realising that in practical. I have patience but not enough I think. Because you can see the trend of RVN, I was hold it and just sold almost in 20% profit. But I didn't wait even volume was increasing, I just missed my own logic. I had enough patience really. But who know RVN will touch 1400+ satoshi but I sold it 450 satoshi only. That's why I am realising patience is the main key if success on trading platform.
And unfortunately patience is in short supply not only in this market but all over the world, the advances in the technology that we have experimented during the last few decades have made people very impatient, this is bad for them but it is good for you if you can control those tendencies within yourself, because as you say if you are able to hold a trade that is giving you profits and take the risk of the market going against you and to avoid being sorry if the market doesn't do what you were predicting then you will be a successful trader. 
I too and often experience the same thing as you, where I am always sorry after the rush to sell for fear of losing. But now I keep trying to learn from my mistakes and hopefully I can succeed in starting now and can control my panic.
With patience, we can be able to set our time and our mind to think the next step and we can analyze the market better than the others. The patience will only works good if we know how to control ourselves in the trading and we will avoid to make a mistake. We will be able to see the chance in the market and the important thing is we can always solve the problem especially if the market moves unpredictable.
well, patience can give maximum results, but you have to know that not everyone who can control his patience and the price movement of cryptocurrency does not rely on patience because prices will not rise if no one buys, so try to invite your friends to buy coins that you have so that the coins you have can be sold and you get profits. 
I agree, without patience no one will win this field I definitely sure if anyone had stress and fear he will not make his decision properly and it will take him to a very difficult situation that's why patience are most important key for winning everything.
You did not make the wrong decision. Because it was unknown that the price would increase that much, and 20% earnings could have turned into a loss even if you had expected more.
I think they believe the RVN because still they don't sell this token. Few of the times our expectation comes true so it is our own risk because if we need more profit we must take risk in this investment. But 20% earnings are also enough for me but others choice are depends on our own stability.
You did not make the wrong decision. Because it was unknown that the price would increase that much, and 20% earnings could have turned into a loss even if you had expected more.
With patience, we can be able to set our time and our mind to think the next step and we can analyze the market better than the others. The patience will only works good if we know how to control ourselves in the trading and we will avoid to make a mistake. We will be able to see the chance in the market and the important thing is we can always solve the problem especially if the market moves unpredictable.
True but sometimes it depends on your goal too.
You must know when to exit. You must know how much profit you want to make before exiting.
Sometimes you may become over patient and in the end the price corrects and you see at a much lower price than even 400 sats
So
- Timing
- Profit goal
- Patience
All work together.
You must know when to exit. You must know how much profit you want to make before exiting.
Sometimes you may become over patient and in the end the price corrects and you see at a much lower price than even 400 sats
So
- Timing
- Profit goal
- Patience
All work together.
I added one more thing dude, patience can be the key if were gonna use it in a proper way and right timing just like what you said.
It can only be the key if you are a long term holder of altcoins or bitcoin and make sure that the coin you are going to hold is really has the capacity to increase in the future like for example Ethereum and Neo and mostly Bitcoin of course.
I'd agree to some extent, but "Patience" is plays a huge factor. But, I disagree on timing, How one could initiate a perfect timing when the industry itself is volatile? Though, Knowledge is a factor. Nevertheless, I consider first hand facts and research as key to success in this field. And TBH, Patience is applicable to everything not only in this field. Also, just to add, a good decision making and a balls of fury do contribute for the success when engaging in trading.
I believe everyone know about this sentence, "patience is the main key of success of trading platform". But I am realising that in practical. I have patience but not enough I think. Because you can see the trend of RVN, I was hold it and just sold almost in 20% profit. But I didn't wait even volume was increasing, I just missed my own logic. I had enough patience really. But who know RVN will touch 1400+ satoshi but I sold it 450 satoshi only. That's why I am realising patience is the main key if success on trading platform.
Patience will give better rate if you are holding a good coin.
RVN is good and doing well so far, but you also need to ensure that you have a target so you can sell it at the right timing, being greedy is bad, you might regret it if you fail.
Every project has a chance to grow in any market situation if the people will see it's worth to invest, but if you are looking for bigger price for better profit, you should hold longer and it does mean you are only seeing one price movement, there are times that it will dump and might affect your spirit of holding, so it's up to you to decide, whether you take profit early, or wait and hold until you get a bigger profit.
I think we have all been there, where you think you should've sold a lot of your shares or something like that towards the profit side and missing it out, you wait. Even though you expect, it's uncertain that it would come back right to the point where you want it to. I just imagined how many times I failed to realize the profit I should've and possibly made more if you made the trade. I think if you are going to trade, you need to be emotionless towards all the times you feel biased. You don't need to be part of that and bots like Gunbot, help me decide on that.
Look at my cases :
1. I bought waves around 35k to 40k satoshi and it went up to 110k satoshi but I did not sell and waited for bigger targets but right now it is trading around 68k satoshi.
2. I got docademic from bounties and it went up to 6k satoshi (on listing it was trading around 200 satoshi). I booked 25% at 250 satoshi and another 25% around 5k satoshi and still holding the remaining 50% but it is trading right now around 300 satoshi.
Being patience alone cannot be key for success in trading all the times. Still, cryptos are at its early days hence it will keep growing bigger in coming years and if you want massive returns for your investments then you must need to be more patience to harvest bigger.
1. I bought waves around 35k to 40k satoshi and it went up to 110k satoshi but I did not sell and waited for bigger targets but right now it is trading around 68k satoshi.
2. I got docademic from bounties and it went up to 6k satoshi (on listing it was trading around 200 satoshi). I booked 25% at 250 satoshi and another 25% around 5k satoshi and still holding the remaining 50% but it is trading right now around 300 satoshi.
Being patience alone cannot be key for success in trading all the times. Still, cryptos are at its early days hence it will keep growing bigger in coming years and if you want massive returns for your investments then you must need to be more patience to harvest bigger.
Yes patience is not all to successful trading because at some point, you have to sell. Like in your own case too, knowledge of when to sell would have seen you in profit and happy with yourself. So knowledge and timing too is key to success.
I had the knowledge of all these yet, I still didn’t follow my instinct, I didn’t even follow chart to see when the coin was on dumping, left it and hoping by the time I come back to it in some months time, I would have been swimming in dollars, reverse was the case, it ended up so low that I had to even lose about 40% of it to exchange as withdrawal fee when I tired transferring it to my ether wallet. If I had sold it then, would have made my gain and also buy virtually 10X of my initial holding.
Trading is primarily a psychological game about oneself. Learn to have calm, rationality and then things come by themselves.
You can do a perfect technical analysis, but if you don't have patience and you get anxious, everything becomes more difficult
You make it sound a bit more like gambling. I think that there is difference in both. Trading eventually depends on how much do you understand about the market and about the phases of investment and withdrawal. Patience is also something that helps you stay calm and make the best decision.You can do a perfect technical analysis, but if you don't have patience and you get anxious, everything becomes more difficult
Try to keep your initial cost low and initial volume of coins high which means that be active in bear market. Technical analysis can help you as well.
I believe everyone know about this sentence, "patience is the main key of success of trading platform". But I am realising that in practical. I have patience but not enough I think. Because you can see the trend of RVN, I was hold it and just sold almost in 20% profit. But I didn't wait even volume was increasing, I just missed my own logic. I had enough patience really. But who know RVN will touch 1400+ satoshi but I sold it 450 satoshi only. That's why I am realising patience is the main key if success on trading platform.
It could've gone either way as well you know. What if the priced didn't gi up and dumped before you werr able to sell? Getting out with 20% profit is already a sign of being patient. There's a difference between that and being greedy. Sometimes, patience is having the self cobtrol of not letting greed take hold. You didn't know what was going to happen but you got out with profit and that's as good as anybody in trading can have.
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