Share Tips For Newbie Traders - page 6.

palle11

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Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Is simple but first you are not alone in trading because you are interacting with your indicators, comparing while also analysing them.

To your other question on how to know you are not wasting time, of course you see either you losing your trade or you are gaining and either of those outcome is a function of your action from the interaction and analysis from your indicators.

RealMalatesta

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Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

I was trading for years but right now I am not into trading still I am able to recall those frustrating days where I was expecting market to return to my favour and other than simply watching market screen deliberately and wasting time, I could not remember what else I have done during those frightening days. Crypto training is really a wild one and if we are not knowledgeable then we might need to face life's worst days.

A simple tip from my side is, always have and follow strict stop-loss and target levels and place orders for these and leave your positions and start doing other things rather than simply watching market. If you keep watching then you may alter your stop-loss levels which may lead you to disasters for not sticking with your original trading plans.

Franctoshi

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Determination leads to success, And when you have passion for something and properly understood the things you can face or involved in your journey to success, there isn't gonna be a need to bother yourself at some point. When it comes to trading, it requires maximum attention and focus on the market without any possible distraction, So for me before I open my laptop to start trading for the day, I ensure that anything that will cause some forms of distraction is settled.

hugeblack

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Trading is the process of generating money from money, and it is an activity with potential for profit and loss, and therefore unless you have a business that pays you your bills and with a surplus that you can invest, then you will not bear to continue trading because you will not have additional money if you lose in trading.

So the first tip would be to get a job that pays your bills and has enough surplus to invest and cover your losses.
Second, control your emotions, stay away from greed, be patient and know that trading is a long term process.
Third, withdraw your capital and leave your profits to multiply. For example, if you invested in the X currency and made profits, withdraw your capital and leave your profits in that currency for a while.
Finally learn, more learning means more money.

Davidvictorson

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Livecasino.io

Trading can be a lonely and boring business at some point because, you do not have anyone to talk to and are just alone with your computer, phone, or tablet in your room, just trading. And many newbies may at some point think that they are probably wasting too much of their time. If you are in this situation right now, I want you to know that you are not wasting your time.

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Topic: Share Tips For Newbie Traders - page 6. (Read 736 times)