Traders need to learn - page 5. | Bitcointalksearch.org

Btc_1856

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Quote from: Lhaine on April 04, 2020, 04:48:17 AM

Quote from: patz22 on April 03, 2020, 08:00:14 PM

There is one thing that I learned being a trader for not so long, that is to control your emotions. Yes, emotions, I learned that if you are going to use it not your mind or knowledge about trading, you will lose a lot, yes, I did lose a lot but of course, I learned an important lesson and with that, I know how to use or make trades.

Actually emotion can only make you lost the more important thing you better know is the news so you can sell it or buy it earlier when the news you heard might give high impact on the price. Emotion will only came if you make a late reaction even you already have idea about the given news and how these news will affect the market.

You are right, emotions will always make us to loose hopes in the market, even though people try to analyze the market situation, but sometime it will not help them to make a profit. Of course, sometimes the news from the company will not help us to reach our desired target and this will surely create panic for the trader.

MUG1WARA

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indeed that is what must be done but sometimes everything doesn't go as expected, experiencing losses and profits is common in trading and it is unlikely that the trader will always get a profit

irixo10

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One of the things to get rid of during trading is emotions followed by greed. One needs to understand trading, learn it before embarking on it because there is alot that affects it such as news etc and therefore when a trade Isn't going as planned the best thing to do is to exit the trade and not try to be smart. Lastly I think no one trades to lose, every trade comes with a good expectations but once it is not falling in place exiting with little or no profit is far better.

Bezobraznike

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Quote from: Ifemini on April 03, 2020, 03:09:57 PM

One of the core troubles accustomed to traders of crypto currency is their mindset.

Believe me, as a trader, you need to be confident and always trade to win and make profits.

Never have it in mind that you are trading to lose, develop a strong mentality and always dyor

Your mindsets determines what you see on a trade chart anytime

I agree with you Ifemini, but believe that for long-term holding you need to have a mindset as well. To invest and wait
for years, maybe decades before you decide to start spending profit from that. Depends on your mindset you will be able
to survive all ups and downs, hard times and volatility to not sell, to not get weak hands and quit.
For everything you need to have a mindset, I agree that mindset determines what you can do and be good in that, it's
just a problem to find what it is, that's why we need to try everything and find our place.

Question123

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Quote from: Ifemini on April 03, 2020, 03:09:57 PM

One of the core troubles accustomed to traders of crypto currency is their mindset.

Believe me, as a trader, you need to be confident and always trade to win and make profits.

Never have it in mind that you are trading to lose, develop a strong mentality and always dyor

Your mindsets determines what you see on a trade chart anytime

As trader we need to believe to the coin that we purchased because we do that we can earn money but behind that a research can believe you more if you see the advatanges of the coin .

Strong mind is really need of the tradee and also forgetting your emotion is really good because that id the tradere weakness characteristics of the trader that can possible for them to lose more money.

What ever your minset even that is good or you think you earn money but they have timed that all of us losing money because of the dumping of the market that we can we cannot avoid because that is natural sometimes but mostly it is panic selling.

Fallenkeith75

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Hi Crypto Friends :)

Quote from: Ifemini on April 03, 2020, 03:09:57 PM

One of the core troubles accustomed to traders of crypto currency is their mindset.

Believe me, as a trader, you need to be confident and always trade to win and make profits.

Never have it in mind that you are trading to lose, develop a strong mentality and always dyor

Your mindsets determines what you see on a trade chart anytime

This is very important yes. One thing alot of traders do is let their emotions play a part in their trades. When you're trading, you need to trade with the mentality that you should try to sell as high as you can, and if you see an opening, you should try to take it. Alot of people say "hodl!" especially when their favorite project goes up sharply during a pump event / sharp price rise (as an example), but you can often sell on the rise and buy back when the project drops. It's also important to be mindful of events when trading. New exchange listings, coin burns (seems to happen alot lately with smaller projects to boost price), new milestones, etc all tend to affect the price of various projects as well.

bits4books

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Crypto is not a religion but i like it

Traders need special education and understanding of related spheres in order to trade effectively and not jump off the roof at the first collapse.
I believe that the level of cryptotrading culture could be better - very few people really understand the market. Most of the so-called "traders" are either yesterday's schoolboys or guys with a lot of loans and a belief in eternal growth who will not even be able to tell about BTC

Lhaine

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Quote from: patz22 on April 03, 2020, 08:00:14 PM

There is one thing that I learned being a trader for not so long, that is to control your emotions. Yes, emotions, I learned that if you are going to use it not your mind or knowledge about trading, you will lose a lot, yes, I did lose a lot but of course, I learned an important lesson and with that, I know how to use or make trades.

Actually emotion can only make you lost the more important thing you better know is the news so you can sell it or buy it earlier when the news you heard might give high impact on the price. Emotion will only came if you make a late reaction even you already have idea about the given news and how these news will affect the market.

VDraci

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Quote from: Ifemini on April 03, 2020, 03:09:57 PM

One of the core troubles accustomed to traders of crypto currency is their mindset.

Believe me, as a trader, you need to be confident and always trade to win and make profits.

Never have it in mind that you are trading to lose, develop a strong mentality and always dyor

Your mindsets determines what you see on a trade chart anytime

Your point is encouraging but doesn't stop loss I'm trading, no matter how smart you are or whatever confidence you have you can't outsmart crypto market, it's full of unexpected results, even crypto experts won't dare show off about how good they are in trading

bgaf

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Quote from: Ifemini on April 03, 2020, 03:09:57 PM

One of the core troubles accustomed to traders of crypto currency is their mindset.

Believe me, as a trader, you need to be confident and always trade to win and make profits.

Never have it in mind that you are trading to lose, develop a strong mentality and always dyor

Your mindsets determines what you see on a trade chart anytime

Too much confidence is also not good. Sometime with over confidence we forgot to be careful when dealing with trading. Yes, it is risky and though we have enough knowledge about trading, a proper precaution is always a must. Not all experienced traders, win or gain profits. Its always a 50% chance to have profits from it. Market is very unpredictable even our corrective guide is correct we cant expect it to always favor our cause. Just saying that dont underestimate trading at all cost.

Twinkledoe

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Quote from: DevilSlayer on April 03, 2020, 08:43:38 PM

Quote from: Eugenar on April 03, 2020, 08:36:55 PM

Everyone here needs to learn, we all want that, having knowledge in new things especially the knowledge that weme can use to make money like investing and trading, as what OP's says our mindset leads us to be a great trader, which is really true all things that we are doing need a great mindset, having that will make you think so clear and decide so well which is really need to be a good trader, you also need so much knowledge about it, you may do some research so you may have skills and knowledge to use while trading.

Good mindset is important in order to have determination to stay alive in the trading of cryptocurrencies. The mindset that we should avoid is having a rich quickly mindset, there are people who want to become a trader because they want to become rich in just short period of time but they not aware to the risks and also the hardships that they can face in order to have consistent earnings in the market.

Actually most of the newbie crypto traders thought that they can get rich quick in crypto. But they don't know that it depends on their strategies, knowledge with the coin, point of entry and exit points and many others. Learning how to trade crypto with profit takes time. It is not by any means an overnight task. Also, to get some good signals on what's going on with particular coin you are following, you need to check all their social media channels and see what they are talking about.

DevilSlayer

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Quote from: Eugenar on April 03, 2020, 08:36:55 PM

Everyone here needs to learn, we all want that, having knowledge in new things especially the knowledge that weme can use to make money like investing and trading, as what OP's says our mindset leads us to be a great trader, which is really true all things that we are doing need a great mindset, having that will make you think so clear and decide so well which is really need to be a good trader, you also need so much knowledge about it, you may do some research so you may have skills and knowledge to use while trading.

Good mindset is important in order to have determination to stay alive in the trading of cryptocurrencies. The mindset that we should avoid is having a rich quickly mindset, there are people who want to become a trader because they want to become rich in just short period of time but they not aware to the risks and also the hardships that they can face in order to have consistent earnings in the market.

Eugenar

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Everyone here needs to learn, we all want that, having knowledge in new things especially the knowledge that weme can use to make money like investing and trading, as what OP's says our mindset leads us to be a great trader, which is really true all things that we are doing need a great mindset, having that will make you think so clear and decide so well which is really need to be a good trader, you also need so much knowledge about it, you may do some research so you may have skills and knowledge to use while trading.

patz22

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There is one thing that I learned being a trader for not so long, that is to control your emotions. Yes, emotions, I learned that if you are going to use it not your mind or knowledge about trading, you will lose a lot, yes, I did lose a lot but of course, I learned an important lesson and with that, I know how to use or make trades.

oscarftw

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Quote from: Ifemini on April 03, 2020, 03:09:57 PM

One of the core troubles accustomed to traders of crypto currency is their mindset.

Believe me, as a trader, you need to be confident and always trade to win and make profits.

Never have it in mind that you are trading to lose, develop a strong mentality and always dyor

Your mindsets determines what you see on a trade chart anytime

That's a very good motivational post, sometimes I do trade but I have always doubt that I could lose money. I think this fear only exists in new traders, also I'm new. Without lost some money, you can't gain experience in trade. Only huge lose will make you more strong. Always I feel risk in new coin, if anyhow this coin died. Old coin always follow total marketcap situation.

Nalbo

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It all sums up to experience and learning from your mistakes. The correct formula for you should be found by yourself and it won't necessarily replicate for anyone else. You can't call yourself a trader if you stop trading and wait for the price of coin to rise. That's what a hodler does. A trader would actively trade and make profit even in a falling market.

btc_angela

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Right, mental toughness is one factor that can spell success or failure in your trading.

I see people being aggressive, well that's not bad, but be logical and positive but not too greedy. That's why we seen a lot of beginners suffer a lot from the start because they always think that this game is easy, and it's a way to make easy money. Learn how to control your emotions and you will surely stay in the game. This is a game, sometimes you win, sometimes you loss, and learn from your past mistakes, be confident but not too cocky.

Jating

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Quote from: Ifemini on April 03, 2020, 03:09:57 PM

One of the core troubles accustomed to traders of crypto currency is their mindset.

Believe me, as a trader, you need to be confident and always trade to win and make profits.

Never have it in mind that you are trading to lose, develop a strong mentality and always dyor

Your mindsets determines what you see on a trade chart anytime

Definitely, we need to be very positive in any way we kind because that's where it starts. If you feel that you are not that confident and can always win, then it will surely manifest it when you do your trading activity. Of course, we can't really say that we are always going to win 100%, because after all we can make a lot of mistakes. But being positive and optimistic that we can win, definitely will be a plus, just saying.

Kasabus

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Quote from: adzino on April 03, 2020, 06:22:42 PM

Okay, yeah whatever you said is partially correct, but no, they shouldn't always be thinking about making profits. If one keeps on making strategies for profit, then there might be a time where he will have to deal with a situation where he will have to make perfect exit with minimum loss, but won't be able to do so since he had never made any kind of exit strategy.
My point is, instead of thinking about profits only, try to think about the other aspects too. Try to think about what to do when you suffer huge loss. Try to think about the "mistakes" that you might make or have made.

As a trader, you should learn how to deal smart enough in times you win or you lose your capital. Accept the fact that trading is just between the two, winning and losing. But still trade with positive mindset and be skilled enough because it will minimize your losing somehow.

davesscenario

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right now can be a golden opportunity to invest in lesser known coins with big potential.
For example TemTum is going to be announcing it's partnership with multiple nations to provide them with their blockchain as a backbone for their own stable national currencies.
once the announcements are made to the press, post-corona panic, I can see TEM going $1+

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