Topic: Things to know before trading. - page 8. (Read 912 times)

Learn first how to read chart. I remember I bought 3 ETH for 30usd.. I sold it all when ETH reached 20usd. One of my biggest mistake as a newbie

Yes you must know all these things before trading. Because if you don't know all these things then you can't survive by trading. You just have to be more discriminating with the help you render toward other people And must possess courage. For example, when you go to future training, you must buy or take short with low leverage.However, there must be a stop loss. Again during Spot If you buy a coin during training and if the price of that coin goes down a lot later, then you have to be patient.Patience cannot be lost here. If you lose patience and sell those coins later, you will not make a profit by trading.

I also agree with that point. We crypto traders are too impatient and expect to get rich within days which is possibly the worst way of looking at crypto trading. People who trade in the regular stocks market are not even earning 1% daily and we crypto traders are not happy with a 5% jump because we are expecting to double the money we are investing.

Keeping your goals realistic and giving time is important in crypto trading as it is with almost anything in life. Setting unrealistic goals and being impatient only makes you upset even when you end up with small profits in a trade.

Yes for successfull trader many thing  know about trading because trading is more risky without any knowledge first learn then earn so we need know about market movement and do technical analysis with out any issue any time so first learn about trading then start trading

if I may summarize it, actually there are 3 things that we must master in trading, where all three form a pyramid, the first at the bottom I put psychology, where psychology is the main determinant of a trader's success. then in the middle is money management, where we have to measure the RR for each of our transactions. and the top one is analysis, where actually analysis occupies the smallest percentage that determines our trading success

Trading is not easy thing because trading is most risky for successfull trader we need to learn about market how to move market some thing which know everyone for successfull trading do own technical analysis chk market next movement and most of the important thing we know about coming up news which make every coin pump

Great solution, I agree with your opinion. An important point before starting to trade is to really understand the basics of cryptocurrency. In addition, you also need to train your emotions so that they can be more controlled. Trading takes time, not just an instant in an instant, therefore you must be patient and control your emotions as well as possible. After you have mastered these 2 things, the next thing to do is find the right strategy for you, this is important so that you are not confused and swayed by unstable market conditions so that your goals can be clear. Lastly, don't forget to be disciplined and consistent with the strategy you have chosen.

Only four? I believe that we must need at least 100 such principles we need to learn and practice before start risking in crypto trading. Because, market volatility requires high precious approach to get sustaining profitable experiences.

Still, I agree one new trader does not require all the high level things at once but they must need to be open to learn anything new and required. Continuous learning is more vital thing is crypto space. We need to be proactive to analyse each and every step of trading so that we could handle market pressure more efferently toward profit making.

I am interested in point 3, where at this point many traders fail. they think that by trading on cryptocurrencies, they will quickly get money, but in reality many of them fail because they cannot control their emotions to quickly get a profit. By being able to control emotions, we can enter the market according to the analysis, so we are not in a hurry

Agree, point 3 is the most effective for trading it is not possible for a businessman to be successful without patience and control of emotions. It is foolish to come to crypto to make quick money those who come to power faster are more vulnerable it is not possible to proceed without analysis so even if I fail in the long run without rushing I will have to wait and see what happens next try to know the trading strategies.

Number 3 and 4 look similar but I agree with all of them.
Learning and practice will be included in the number 1 as, by learning and practice, you will have a good strategy that you can use to trading.
Commitment and consistency in learning and practice can help you improve your skills from time to time to help you become a pro trader.
There is no stop time to learning more about trading because the market will always move up and down, and if you do not learn more, you will not have a chance to make a profit.

I agree with the idea of the owner of this post. Although I have read and watched those ideas a few times, they are very effective especially in handling losses.

I also want to add this youtube video that has given me a lot of help to minimize losses and increase my profits per trade:

Trade Like a Casino for Consistent Profits by Adam Khoo

Super emphasis should be placed on this. The time factor is very important and beginner traders should understand that trading is not as easy as they they thought and that if they check properly the background of the traders that they are drawing inspiration or motivation from to trade, they would find out that the vast majority of them have dedicated ample time to trading and developed strategies modified and best suited to them.

Patience is very important, because in the duration of time you will be tried, there will be both sad and happy days while you trade,  but the patience to understand that there is a very important factor called "time" in learning is what will count.

Give yourself time.

About dedicating all of your time in trading, well there's truth on it.

But with those traders that I saw, they're not really dedicating all of their time on it. Successful traders allocates around 4-5 hours of their time at the best timing that they can.

And with that period, they have to make money from it. I guess it still ends up on #1.

Many people have been investing in cryptocurrency, and some have been complaining that they are losing money, particularly newcomers, so I believe this will really help you as a trader. The following will guide everyone to be a successful trader.

There are four keys to successful trading.

1. Find a strategy that works for you: If you are dedicated and forced to put in the effort, you will undoubtedly find a strategy that works for you. There are a variety of strategies available for you to try out.

2. Risk management: You must work on your risk/reward ratio, know how much you must invest in a coin, and only invest what you can afford to lose. If you are trading futures, always use a low laverage and don't forget to use a stop loss.

3. You must give yourself time: Because cryptocurrency requires patience and dedication, you should not rush to make money at the same time This is impossible since if you buy a coin now, it may take weeks or months for it to pump, so don't expect to make money quickly with cryptocurrencies. Give yourself time to investigate and plan. Because trading is a long-term endeavor, you must devote sufficient time to learning.

4. Dedication and commitment: If you truly want to be a good trader, you must be able to devote all of your time to it. Since you are making money from it I believe it really worth giving all your time.