Some qualities a good trader should have - page 3.

Dewi Aries

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Quote from: Rampagoe004 on October 25, 2024, 07:33:48 AM

Quote from: Adams0001 on October 24, 2024, 12:11:45 PM

You are correct, all of this is quite normal for traders to be aware of, but many individuals are unable to do so since they are only interested in making money from trading without understanding why they are doing so. If you don't understand anything about trading, it's like putting money on fire and watching it burn without getting anything out of it. Trading isn't for everyone because many people will try every time but still achieve their goals, so some people don't waste time and move on to something else where they can try to get something out of it. But I usually believe that anything is possible for a person who is patient enough to understand things and be professionally like others, because I don't think they have something that is impossible. But if you says you can't wait patient anything you will always be difficult for you.

The most important thing in trading is to be aware of what traders must do to make money. Many of the traders are not able to learn the things that are needed so that traders can produce what they have to do, many traders are unable to apply certain rules so they move on to other things that produce results quickly,
I think whatever is done in a hurry without waiting patiently will This is a big risk for a trader. Don't complicate yourself for the sake of an instant desire in trading, it could be a bad start in the future.

True, learning various things to find out about what a trader needs to make a profit is something that a trader must do because after all, that is the only way we can achieve a number of benefits considering that the profit in trading depends on how skilled a person is or how much knowledge a trader has. Another thing related to a trader who is unable to implement the various suggested plans or those who do not want to learn various things first before entering the market is that they are most likely to come in a hurry due to a misunderstanding in terms of understanding what and how trading really is, and in the end of course this is what makes some traders end up failing and losing more money instead of making a profit, on the other hand we must know that trading is not a get-rich-quick scheme, as in general that everything requires a process and sacrifice first in order to produce.

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Quote from: Adams0001 on October 24, 2024, 12:11:45 PM

You are correct, all of this is quite normal for traders to be aware of, but many individuals are unable to do so since they are only interested in making money from trading without understanding why they are doing so. If you don't understand anything about trading, it's like putting money on fire and watching it burn without getting anything out of it. Trading isn't for everyone because many people will try every time but still achieve their goals, so some people don't waste time and move on to something else where they can try to get something out of it. But I usually believe that anything is possible for a person who is patient enough to understand things and be professionally like others, because I don't think they have something that is impossible. But if you says you can't wait patient anything you will always be difficult for you.

The most important thing in trading is to be aware of what traders must do to make money. Many of the traders are not able to learn the things that are needed so that traders can produce what they have to do, many traders are unable to apply certain rules so they move on to other things that produce results quickly,
I think whatever is done in a hurry without waiting patiently will This is a big risk for a trader. Don't complicate yourself for the sake of an instant desire in trading, it could be a bad start in the future.

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Quote from: GigaBit on October 25, 2024, 05:41:17 AM

Discipline is required to successfully manage any work. A trader has to constantly make various strategies and plans but he must follow the plan. The market sentiment may change from time to time but the trader must remain consistent with his target.

Many times greed works in traders which traders need to understand. If they fall into that temptation, they will surely face huge losses. A trader should set a limitation on his profit. Especially those who are short term traders can be satisfied with a small profit. Then they can definitely succeed in trading.

There is no guarantee that a trader will be successful just by following certain guidelines to make profit. Appropriate decision should be taken by understanding the market well. Otherwise there is a possibility of exposure to loss at any time.

Although the theory is not very useful in this platform but if you know it is possible to do well in trading.

Trading responsibly means you will learn much more in the long run.
Otherwise, you may not see the boons from your positions in the end, thus ensuring that you wouldn't succeed in the long run.

GigaBit

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Discipline is required to successfully manage any work. A trader has to constantly make various strategies and plans but he must follow the plan. The market sentiment may change from time to time but the trader must remain consistent with his target.

Many times greed works in traders which traders need to understand. If they fall into that temptation, they will surely face huge losses. A trader should set a limitation on his profit. Especially those who are short term traders can be satisfied with a small profit. Then they can definitely succeed in trading.

There is no guarantee that a trader will be successful just by following certain guidelines to make profit. Appropriate decision should be taken by understanding the market well. Otherwise there is a possibility of exposure to loss at any time.

Although the theory is not very useful in this platform but if you know it is possible to do well in trading.

justdimin

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Quote from: Adams0001 on October 24, 2024, 12:11:45 PM

all of this is quite normal for traders to be aware of, but many individuals are unable to do so since they are only interested in making money from trading without understanding why they are doing so. If you don't understand anything about trading, it's like putting money on fire and watching it burn without getting anything out of it. Trading isn't for everyone because many people will try every time but still achieve their goals, so some people don't waste time and move on to something else where they can try to get something out of it. But I usually believe that anything is possible for a person who is patient enough to understand things and be professionally like others, because I don't think they have something that is impossible. But if you says you can't wait patient anything you will always be difficult for you.

If you only focus on "making more money", then you are going to forget about all the details that you are going to need for something like this. Obviously everyone trades just to make money and there is no other reason to trade, but if you focus on the most amount of money then you are forgetting how that is done. Studying, learning, experience, learning from mistakes, all of these are important and if you just focus on making most money then you are going to be looking for the next trade and nothing more and you will be rushing and making a mistake.

This is why I believe we should be careful with what we have and nothing more. I believe we could be making some money while learning about it and not rush into this at all. I think this will be a very tough situation but we can't really see what is going to happen and this should be a very hard to focus in the future. This won't be a simple situation, but we can make this work one way or another.

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Quote from: betswift on October 23, 2024, 01:47:02 AM

Quote from: Adbitco on October 22, 2024, 06:34:35 PM

Quote from: Hamza2424 on October 22, 2024, 03:22:09 PM

Note: Keep in mind a reason is necessary why you want to be a trader why not an employee why not to be an enterprise and anything else you can be.

I think people love trying the alternative and for that he decides to go into trading which is fine and I know but, have he also considered the effects? Well, everyone with their choice of side hustle or additional source of income but sincerely, before someone can stabilized in trading there would be so many lessons which he must undergo before definitely start earning, so as for me it's advisable to look into investment than trading.

It should be done slowly, step by step.
The market won't be generous to you without the needed tools, knowledge, and expertise.
For some time, you would need to combine your work and your side job, per se.
Only then you would be able to take a decision whether to go full-on trade mode or not.

It mostly depends on the nature of their jobs, which i believe most of the foreign countries do works on hourly basis and not our people who works 9-10 hrs and they are underpaid. It is easy to work hourly and do trading and for that one can decides for short trade or but if he gives more priority to trading then he would work less and put more efforts on their trading. But however, i still gives more priority to investment as it's less hassle free and you wouldn't be that in a hurry to meet up and learn much about the trading to start succeeding with the trading. But investment can be hold for years after which he may decides to sell off and take his profits.

Adams0001

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Quote from: retreat on October 23, 2024, 11:55:00 AM

Those are very common basic things that traders need to know, but in practice not all traders are able to fulfill these things. In fact, there are still many traders who still trade with a gambling mindset or they just enter the market and then exit with a loss. Because saying it is very easy compared to practicing it, but if a trader is able to practice it, it can make them a good trader as you said.

You are correct, all of this is quite normal for traders to be aware of, but many individuals are unable to do so since they are only interested in making money from trading without understanding why they are doing so. If you don't understand anything about trading, it's like putting money on fire and watching it burn without getting anything out of it. Trading isn't for everyone because many people will try every time but still achieve their goals, so some people don't waste time and move on to something else where they can try to get something out of it. But I usually believe that anything is possible for a person who is patient enough to understand things and be professionally like others, because I don't think they have something that is impossible. But if you says you can't wait patient anything you will always be difficult for you.

beerlover

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Quote from: Fiatless on October 22, 2024, 06:55:39 AM

Quote from: Dzwaafu11 on October 22, 2024, 02:51:54 AM

Is all end up in a good trader should have understanding of how the market works. Market movement is what makes many traders lose their money; they don’t study the market well before taking any further decisions, and that’s why many of them will later regret their actions at the end. Some of them are not emotionally stable when trading, and that is why instead of making the right decision, they think if they continue leaving that trade they will lose the money.

Some people find it very difficult to learn through online materials. They prefer to have face-to-face lessons because it makes them understand faster. Such people could locate physical crypto trading schools where they can get the basics of trading. They might then proceed to online platforms to expand their knowledge because trading is vast and dynamic.

This is very tough in today's world but you can still find some classes that happens at zoom if they can handle that. It's not exactly face to face, but you still see someone and you talk with them and it's a class, so it's not one on one class but it's with plenty of people, depending on how good quality it is, usually with a lot of people. I joined one free session once, I earned from some purchase, normally people pay about 49 bucks a month for these classes, and there were about 20 or so "students" in there, I got in, knowing everything about bitcoin there is because I have been here for over ten years, but wondered how good this class is.

I have to say, learning this way is definitely far better than just reading material online or some youtube video. People should realize asking a teacher about things you didn't quite understand is ok, and maybe other students would be annoyed, but you make sure you understand everything well that way.

Dewi Aries

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Quote from: Pandu Geddon on October 23, 2024, 11:48:37 AM

Quote from: Dewi Aries on October 23, 2024, 11:06:51 AM

As you said that trading can be an easy activity to learn but that is also only when the person has a high spirit in dedicating himself to learning and also only when the person goes through everything gradually and carefully, in the sense of coming with the right approach and understanding that trading is not a get-rich-quick scheme.

Indeed we must admit, more beginners learn trading because of the desire to make quick profits. Traders may have a strong motivation to learn trading or develop their trading skills. but unintentionally, the intensity of trading or learning trading sometimes makes beginners fall into an explosive desire. they can actually be wrong in taking good trading positions, trading continuously and they may even chase losses.
learning trading may be easy to do on your own. but getting control from those who are more experienced may be better for someone who is learning trading.

In most cases, it is this misunderstanding that ultimately often leads a trader to various setbacks such as losing an unnecessary amount of funds, wrong mindsets and perspectives such as assuming that trading is a place to make money easily and quickly will make a trader act hastily every time they enter the market, or in the sense that this mindset is very likely to encourage a trader to act rashly in the approach they have so that in the end the amount of loss increases from what it should be.

Learning trading certainly requires strong intentions and determination but also requires spending or sacrificing some money in the adaptation stage and of course when a trader has the wrong mindset and approach, the possibility of the amount of loss will certainly be greater and usually unbearable in the sense that it makes them lose a lot of money until they finally lose interest in continuing the journey in dedicating themselves to learning, therefore this is why having a mentor is also quite recommended to continue monitoring you so that you stay on the right track.

DediRock

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Great points! Discipline, intellectual adaptability, and mental fortitude are indeed key qualities for success in trading.
I also believe that having a well-thought-out risk management strategy is vital to navigating market uncertainties.

How do you personally handle emotions during trades, especially when things don’t go as planned?

retreat

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Those are very common basic things that traders need to know, but in practice not all traders are able to fulfill these things. In fact, there are still many traders who still trade with a gambling mindset or they just enter the market and then exit with a loss. Because saying it is very easy compared to practicing it, but if a trader is able to practice it, it can make them a good trader as you said.

Pandu Geddon

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Quote from: Dewi Aries on October 23, 2024, 11:06:51 AM

As you said that trading can be an easy activity to learn but that is also only when the person has a high spirit in dedicating himself to learning and also only when the person goes through everything gradually and carefully, in the sense of coming with the right approach and understanding that trading is not a get-rich-quick scheme.

Indeed we must admit, more beginners learn trading because of the desire to make quick profits. Traders may have a strong motivation to learn trading or develop their trading skills. but unintentionally, the intensity of trading or learning trading sometimes makes beginners fall into an explosive desire. they can actually be wrong in taking good trading positions, trading continuously and they may even chase losses.
learning trading may be easy to do on your own. but getting control from those who are more experienced may be better for someone who is learning trading.

Hamza2424

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Quote from: South Park on October 22, 2024, 04:17:51 PM

While a great deal of the time we concentrate on skills like reading the charts, money management, the signals created by your system and other similar skills, I consider the emotional stability of a trader to be even more important, this is because it does not matter if you have the best strategy ever created, if you cannot apply it under pressure and you crumble because of it then you will lose money, while someone that has a mediocre strategy but that can take difficult decisions under pressure will make money given enough time.

Acknowledged, There's no doubt whether it is sports, education, or the market what matters is your mindset and a strong mindset represents strong emotional control, for the rest a full skill set is necessary. You cant be a good footballer if you run fast only.

Quote from: Adbitco on October 22, 2024, 06:34:35 PM

Quote from: Hamza2424 on October 22, 2024, 03:22:09 PM

Note: Keep in mind a reason is necessary why you want to be a trader why not an employee why not to be an enterprise and anything else you can be.

I think people love trying the alternative and for that he decides to go into trading which is fine and I know but, have he also considered the effects? Well, everyone with their choice of side hustle or additional source of income but sincerely, before someone can stabilized in trading there would be so many lessons which he must undergo before definitely start earning, so as for me it's advisable to look into investment than trading.

That's a good choice, why I've asked this because a reason can motivate you in your times I know there's motivational content around us but your reason is the only motivation for you in your start, it helps others to analyze how determined you are on the path you've chosen. It's not for fun only, it can be but for a trader it cant be.

Dewi Aries

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Quote from: Finestream on October 23, 2024, 09:50:25 AM

Quote from: Hamza2424 on October 22, 2024, 03:22:09 PM

Hmm, OP's post is quoting the emotional side of the trader but there are many other basic needs to be a trader no doubt that emotional control is one of the core attributes of a trader. To be a good trader what I've recently learned in the past few months is never to trade against the trend it can cost you a lot more than your expectations from risk to reward. In the current market trend, I can see that due to the previous desperate period, most of the faded seasonal traders are jumping again into the markets let's see how they end up now.

Note: Keep in mind a reason is necessary why you want to be a trader why not an employee why not to be an enterprise and anything else you can be.

There are actually a lot of good qualities that a trader must have. However, in order for them to achieve, you need to pinpoint first why you desire to trade and your goal in trading. If you don't clearly understand why you enter trading despite of its high risk, then you will never become a good trader in the process.

Trading can be easy for those who are more than passionate about it, despite of some inevitable losses. But for those who only trade because they want to ride the hype and anticipate quick returns, they will never have the qualities to become a good trader.

I think it is clear that the main goal of everyone involved in the world of trading is to make a profit, we all like money and most of us do various ways to get the money we expect, but sometimes this is where the problem usually starts where not everyone can walk on the right track, one of which is in the world of trading which ultimately makes them depressed. Therefore, it is always recommended to first understand what and how the activity you want to do is, at least knowing and understanding clearly that trading is a risky activity which is not only about the opportunity for profit but the risk of losing money is also always part of the activity.

As you said that trading can be an easy activity to learn but that is also only when the person has a high spirit in dedicating himself to learning and also only when the person goes through everything gradually and carefully, in the sense of coming with the right approach and understanding that trading is not a get-rich-quick scheme.

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Quote from: Hamza2424 on October 22, 2024, 03:22:09 PM

Hmm, OP's post is quoting the emotional side of the trader but there are many other basic needs to be a trader no doubt that emotional control is one of the core attributes of a trader. To be a good trader what I've recently learned in the past few months is never to trade against the trend it can cost you a lot more than your expectations from risk to reward. In the current market trend, I can see that due to the previous desperate period, most of the faded seasonal traders are jumping again into the markets let's see how they end up now.

Note: Keep in mind a reason is necessary why you want to be a trader why not an employee why not to be an enterprise and anything else you can be.

There are actually a lot of good qualities that a trader must have. However, in order for them to achieve, you need to pinpoint first why you desire to trade and your goal in trading. If you don't clearly understand why you enter trading despite of its high risk, then you will never become a good trader in the process.

Trading can be easy for those who are more than passionate about it, despite of some inevitable losses. But for those who only trade because they want to ride the hype and anticipate quick returns, they will never have the qualities to become a good trader.

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Quote from: Bloodseekers on October 20, 2024, 12:50:31 PM

When someone trades and they do not have patience of course there will be many losses that will be obtained from the trades they make because they cannot trade well, with patience in trading they will be able to know the right time to enter the market and also exit because someone could make a mistake in holding on while they have to release the assets they hold for the profits they have earned.

Not when you're trading Bitcoin because Bitcoin isn't like altcoins that you can't know when they're going to fall or rise. You can't hodl Bitcoin with full confidence that nothing will happen but trading Bitcoin can give you some certainty because you're assured that Bitcoin can recover when it has a correction. Trading with patience is important and not to be joked with but we too have to be cautious of the altcoins we're trading because some altcoins have no future and they make you broke when you buy them because you're left hodling something that you can't sell because of the value always dropping. I once traded an altcoin that I wasn't allowed to sell but I was allow to buy hence we also have to be cautious to prevent us from trading scam tokens. Exchanges that we use for trading have to be verified exchange that aren't known for scamming because there are many of them that do this.

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Quote from: Adbitco on October 22, 2024, 06:34:35 PM

Quote from: Hamza2424 on October 22, 2024, 03:22:09 PM

Note: Keep in mind a reason is necessary why you want to be a trader why not an employee why not to be an enterprise and anything else you can be.

I think people love trying the alternative and for that he decides to go into trading which is fine and I know but, have he also considered the effects? Well, everyone with their choice of side hustle or additional source of income but sincerely, before someone can stabilized in trading there would be so many lessons which he must undergo before definitely start earning, so as for me it's advisable to look into investment than trading.

It should be done slowly, step by step.
The market won't be generous to you without the needed tools, knowledge, and expertise.
For some time, you would need to combine your work and your side job, per se.
Only then you would be able to take a decision whether to go full-on trade mode or not.

tottong

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Quote from: bigmanik on September 28, 2024, 06:33:07 AM

Well although I'm new to this platform I'm not actually new to trading and during the little time that I have been trading I would love to share with you some of the qualities I think a good trader should have

First we should know that trading isn't gambling and isn't about luck if you wish to become a successful trader there are some qualities you should possess
Although I myself do not possess all these skills

Everything about trading will be much easier to understand when people engage in it responsibly and we must also understand that trading cannot always be profitable.
I believe in luck but when engaging in trading we do not rely on it because we need to understand how to trade properly so that we can avoid panic when experiencing losses.
In trading it is not only limited to the three points that you shared because it requires technical analysis, risk management and knowing how to make a return when the previous trade was a loss.

Charts and price indicators need to be analyzed properly because price fluctuations that occur in the market can change so quickly.
The risk is high if trading is not handled properly and we are worried that will lose interest when experiencing excessive losses.

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Quote from: Rockstarguy on October 22, 2024, 02:14:17 PM

I would say traders fails to meet up with discipline and skills in trading. The amount of knowledge one has towards trading will determine what will be the outcome in trading. The reason why traders normally jave challenge with their outcome in trading is because is because they feel the amount of knowledge they have concerning trading is enough to make trading successful.

Trading strategies do change overtime and one don't need to rely in a trading strategy, it is important for a trader to acquire skills that can enable him to be successful in trading. When it comes to discipline it is something most people find it very difficult to practice, knowing that trading is about discipline to obtain a successful trade.

It is a problem that often occurs even with those who have good knowledge sometimes can not control themselves by forgetting the discipline that they previously had to obey. In addition, with now where the development of technology is increasingly sophisticated, it makes it easy for us to find any information, with this we should be able to use it to find broader knowledge about trading which aims to prevent losses.
With those who trade but do not have enough knowledge in my opinion are people who are lazy to process but only want to enjoy the results.

With strategy I think everyone has their own strategy and they will continue to develop their strategy, for example the strategy they have is less accurate, the possibility that will be done is to find a new strategy that is more efficient but with those who evaluate strategies or do research it is very rare. And sometimes I see some people who have teachers in learning trading only this is not free, and this person is in my environment with luck he succeeded in trading.

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Quote from: Hamza2424 on October 22, 2024, 03:22:09 PM

Note: Keep in mind a reason is necessary why you want to be a trader why not an employee why not to be an enterprise and anything else you can be.

I think people love trying the alternative and for that he decides to go into trading which is fine and I know but, have he also considered the effects? Well, everyone with their choice of side hustle or additional source of income but sincerely, before someone can stabilized in trading there would be so many lessons which he must undergo before definitely start earning, so as for me it's advisable to look into investment than trading.

Topic: Some qualities a good trader should have - page 3. (Read 1308 times)