Topic: The secret of successful part-time traders (Read 619 times)
Also, an important thing to include is to have the experience to gain and to learn from it, most of the points that the OP mentioned will be the part of your previous experience stacking it to your skills to make you a successful traders most especially how to deal with your investments as to when are you going to sell and buy, good list for the starters.
The amount of time spent on the trade is very important especially to most part time traders, even the time to spent to analyze which of the two possible coins should you go for should be accounted for in the market, not treating the trading as some sort of work that lazy people do. Trading is a business and a full term business of some whales
Thanks for the idea and also i can apply this to my self. You have said that the part time traders that only used limited time is difficult and this is also my problem, from work i spend 12 hours of work and when i got home so tired, so i need to rush Checking my buy and sell orders. because i need rest earlier from tomorrow's work. i think i need to arrange my plan before going home to do trading faster.
very good. I can recommend it to my friends
To be a successful part-time trader you have limited time since you cannot invest all of your time in the numerical analysis so you move on the top new, the only news you study is the news of the cryptocurrency world and how global political policies are changing with respect to quit
Successful traders have learned a lot and they have a lot of technical analysis skills. Then they traded the day in robots . This does not take much time and is profitable.
1. Define your method of transaction and style
The biggest problem for part-time traders is the amount of time used for trading. If you can only spend one hour per day for trading, it will be very difficult to make actual profits. You must have a clear plan. What would you do in an hour? Will you trade in scalping or long-term or mid-term? Asking yourself these question, having a detailed plan for trading, then choose the best method.
2. Maximize your transaction time
As mentioned, time is the key. Time management is an important skill for traders, especially in the early stages. In addition, you must have a specific plan to improve your trading skills such as review charts, backtest tools, and tracking basic economic information to make a critical analysis. Even in the bear market, maybe all it needed is to sit down and do those things above because you would not trading anyway. Be patience and chances will come.
3. Improve your specialized knowledge
Because your transaction time is limited, you need to gaining trading knowledge and experiences by reading a book or consult an expert analysis.You need to build scripts for your strategies from different perspectives and always control your emotions when making forecast.
4. Keep your head cool
You are not a robot and you cannot follow the price chart 24/7. If you miss a chance, lets it be and move on. Trading is long-term and opportunity is one thing that market never lack of.
5. Join the professional Forex community
Due to the popularity of Forex forums, you will not be alone in trading. Take time to participate in forums and learn from professional traders. They may point out things that have yet known. TraderViet.com is a great community. Definitely check that out!
6. Clear trading plan
A trading plan can maintain a relaxed and prepared state in trading. As planning ahead, you will likely to have a wider and further vision of the market, wasting less time on monitor price charts. It helps keep you calm and abides by the rules you set. A complete trading plan will help you accumulate more profitable and faster on the way to becoming a professional trader.
That’s all of my secrets, what do you think?
Actually, those people who are just part time traders might have a work in the corporate world and they will only wait for the right price before trading and in that way they can make more good decisions.
The only secret to make money in here is just to be a patient guy and do not be an anxious one who want to make $1000 on a daily basis, that is not possible at all
The points the OP makes are very good but I have always believed there are no secrets when it comes to almost anything, what you need to do is to work hard, there are many people that try to become traders but they do not take the time to study books about the subject and as such they fail, if people dedicated as much time to their trading and financial education as they do to watch TV or to check their social media accounts we will have a lot more millionaires in this forum.
The secret is simple - buy at right time and sale at right time. But this will need a lot of experience, so it is very hard to imagine, that first time trader can make profit each month without losses. Therefore trade practise is the only tool to make some stable profit in future.
Everyone knows that earning and losing is the part of business, no one can become milliner within one day, so if you get a miner lose for the sake high profit in future then it does not matter, be strong and have patience to face any of situation bravely, I am sure if you will remain alert while trading, buy at low, hold sell high will help you avoid all kind of risk and lose, so you can get huge profit even at first attempt for trading.
The secret is simple - buy at right time and sale at right time. But this will need a lot of experience, so it is very hard to imagine, that first time trader can make profit each month without losses. Therefore trade practise is the only tool to make some stable profit in future.
Joining a community or more is essential for success in Crypto trading. You will get to learn from others and receive signals also. The points you've raised are noted but emphasis should be made on learning and practicing the skills you've learned in Crypto trading. No one becomes and expect or successful over night. Patience is needed, consistency and the passion to surf even in an unfavorable market conditions.
For me the secret of the successful part time traders are they are experience well how to deal to the flow in this kind of business because they are learn from their mistakes and use it us advantage.
Patience and knowledge is the main key to be a successful trader of cryptocurrencies, if you don't have these characteristics then there is a chance that you may loss your funds.
1. Define your method of transaction and style
The biggest problem for part-time traders is the amount of time used for trading. If you can only spend one hour per day for trading, it will be very difficult to make actual profits. You must have a clear plan. What would you do in an hour? Will you trade in scalping or long-term or mid-term? Asking yourself these question, having a detailed plan for trading, then choose the best method.
2. Maximize your transaction time
As mentioned, time is the key. Time management is an important skill for traders, especially in the early stages. In addition, you must have a specific plan to improve your trading skills such as review charts, backtest tools, and tracking basic economic information to make a critical analysis. Even in the bear market, maybe all it needed is to sit down and do those things above because you would not trading anyway. Be patience and chances will come.
3. Improve your specialized knowledge
Because your transaction time is limited, you need to gaining trading knowledge and experiences by reading a book or consult an expert analysis.You need to build scripts for your strategies from different perspectives and always control your emotions when making forecast.
4. Keep your head cool
You are not a robot and you cannot follow the price chart 24/7. If you miss a chance, lets it be and move on. Trading is long-term and opportunity is one thing that market never lack of.
5. Join the professional Forex community
Due to the popularity of Forex forums, you will not be alone in trading. Take time to participate in forums and learn from professional traders. They may point out things that have yet known. TraderViet.com is a great community. Definitely check that out!
6. Clear trading plan
A trading plan can maintain a relaxed and prepared state in trading. As planning ahead, you will likely to have a wider and further vision of the market, wasting less time on monitor price charts. It helps keep you calm and abides by the rules you set. A complete trading plan will help you accumulate more profitable and faster on the way to becoming a professional trader.
That’s all of my secrets, what do you think?
So,i think learning to control our emotions would be a good addition to these methods to help us become a good or even a succesful trader one day.
1. Define your method of transaction and style
The biggest problem for part-time traders is the amount of time used for trading. If you can only spend one hour per day for trading, it will be very difficult to make actual profits. You must have a clear plan. What would you do in an hour? Will you trade in scalping or long-term or mid-term? Asking yourself these question, having a detailed plan for trading, then choose the best method.
2. Maximize your transaction time
As mentioned, time is the key. Time management is an important skill for traders, especially in the early stages. In addition, you must have a specific plan to improve your trading skills such as review charts, backtest tools, and tracking basic economic information to make a critical analysis. Even in the bear market, maybe all it needed is to sit down and do those things above because you would not trading anyway. Be patience and chances will come.
3. Improve your specialized knowledge
Because your transaction time is limited, you need to gaining trading knowledge and experiences by reading a book or consult an expert analysis.You need to build scripts for your strategies from different perspectives and always control your emotions when making forecast.
4. Keep your head cool
You are not a robot and you cannot follow the price chart 24/7. If you miss a chance, lets it be and move on. Trading is long-term and opportunity is one thing that market never lack of.
5. Join the professional Forex community
Due to the popularity of Forex forums, you will not be alone in trading. Take time to participate in forums and learn from professional traders. They may point out things that have yet known. TraderViet.com is a great community. Definitely check that out!
6. Clear trading plan
A trading plan can maintain a relaxed and prepared state in trading. As planning ahead, you will likely to have a wider and further vision of the market, wasting less time on monitor price charts. It helps keep you calm and abides by the rules you set. A complete trading plan will help you accumulate more profitable and faster on the way to becoming a professional trader.
That’s all of my secrets, what do you think?
So,i think learning to control our emotions would be a good addition to these methods to help us become a good or even a succesful trader one day.
This is my list:
2.Read the best 3 books about forex trading.I`m not going to recommend you any books,just do some research.
3.Find a mentor,who is willing to provide free info about his trading experience(tips,tricks,mistakes,failures).
I believe these two suggestions really cut the learning curve. I suggest all people take it seriously because it will make a big leap ahead for us. Especially the third option, A mentor is a really valuable person once they willing to help us, they will definitely share his/her a long tedious and steady experience to help us to be better.2.Read the best 3 books about forex trading.I`m not going to recommend you any books,just do some research.
3.Find a mentor,who is willing to provide free info about his trading experience(tips,tricks,mistakes,failures).
We can be traders but we cannot be all successful traders. I don't know if there really is a secret to be successful in this part but what I know is that some people are able gain what others can't because of knowledge, strategy and skills.
This is my list:
2.Read the best 3 books about forex trading.I`m not going to recommend you any books,just do some research.
3.Find a mentor,who is willing to provide free info about his trading experience(tips,tricks,mistakes,failures).
I believe these two suggestions really cut the learning curve. I suggest all people take it seriously because it will make a big leap ahead for us. Especially the third option, A mentor is a really valuable person once they willing to help us, they will definitely share his/her a long tedious and steady experience to help us to be better.2.Read the best 3 books about forex trading.I`m not going to recommend you any books,just do some research.
3.Find a mentor,who is willing to provide free info about his trading experience(tips,tricks,mistakes,failures).
1. Define your method of transaction and style
The biggest problem for part-time traders is the amount of time used for trading. If you can only spend one hour per day for trading, it will be very difficult to make actual profits. You must have a clear plan. What would you do in an hour? Will you trade in scalping or long-term or mid-term? Asking yourself these question, having a detailed plan for trading, then choose the best method.
2. Maximize your transaction time
As mentioned, time is the key. Time management is an important skill for traders, especially in the early stages. In addition, you must have a specific plan to improve your trading skills such as review charts, backtest tools, and tracking basic economic information to make a critical analysis. Even in the bear market, maybe all it needed is to sit down and do those things above because you would not trading anyway. Be patience and chances will come.
3. Improve your specialized knowledge
Because your transaction time is limited, you need to gaining trading knowledge and experiences by reading a book or consult an expert analysis.You need to build scripts for your strategies from different perspectives and always control your emotions when making forecast.
4. Keep your head cool
You are not a robot and you cannot follow the price chart 24/7. If you miss a chance, lets it be and move on. Trading is long-term and opportunity is one thing that market never lack of.
5. Join the professional Forex community
Due to the popularity of Forex forums, you will not be alone in trading. Take time to participate in forums and learn from professional traders. They may point out things that have yet known. TraderViet.com is a great community. Definitely check that out!
6. Clear trading plan
A trading plan can maintain a relaxed and prepared state in trading. As planning ahead, you will likely to have a wider and further vision of the market, wasting less time on monitor price charts. It helps keep you calm and abides by the rules you set. A complete trading plan will help you accumulate more profitable and faster on the way to becoming a professional trader.
That’s all of my secrets, what do you think?
Well, I guess That's all True that is the secrets of being professional in terms of trading or cryptocurrency.Yes, Im not a professional trader for now but i hope soon i will be. And as this passage says "time is the key. Time management is an important skill for traders, especially in the early stages" We must manage our time in trading especially when we have our current work. And when you are on early stages, of course you need more time to know more about bitcoin.You can read or you can ask a question to those people who know more about bitcoin.
Yes, We are not a robot we need rest. So that , Give our self a rest and vacation that is the important . Trading is not easy we need to think and use our brain in here.
it seems that suitable to be the main key to success in the world of trading is you must be able to control your patience and you should be able to not easily affected by bad news.
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