Traders need to learn - page 6. | Bitcointalksearch.org

asriloni

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Quote from: Ifemini on April 03, 2020, 02:09:57 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

Just try to determined the decision that we will take it based on the chart is not enough. We must also learn a lot about how to determine the fundamental that will be affecting the price of crypto.
To build the mentality the traders must always try to trade in the market and they can adapt with the market itself.

bttmember

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I have been trading through different markets earlier from forex to commodities, from stocks to crypto and i have found out that what ever your strategy is and what ever is the level of your skill you are still going to see bad days and weeks making losses, so there is nothing as good as daily profit.

20kevin20

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Dunno if it's some psychological stuff or I simply don't have the luck and gift of being a trader, but no matter how confident I am, whenever I'm buying a coin the market goes bearish and whenever I sell it goes extremely bullish. It happens every single damn time so I just gave up trying. Like all my trading history from 2013 'till today is a history of missed trading moves.

My last investments are now worth less than half of the money I invested. I might just happen to be the unluckiest one out there and miss every single damn trade.

Heisenberg_Hunter

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Quote from: DarkDays on April 03, 2020, 04:22:58 PM

I think cryptocurrencies traders should stick to demo trading platforms for the first few months of their journey. Sure, you'll likely miss out on some profitable trading opportunities, but you will also save yourself some money when you inevitably make serious mistakes.

The cryptocurrency market is no easier to trade than traditional markets like forex and stock indices, don't think that just because you know a thing or two about cryptocurrencies that you are suddenly an expert trader.

Take your time and learn the fundamentals before risking real money.

Crypto on the whole is highly volatile and risk of losing the money is probably very high. Stocks aren't subjected to higher volatility and hence the percentage of losses in terms of a stock market is too low while comparing it to the crypto market. But the problem with the traditional stock markets is that they indeed need to be legally accepted in the country through which we are trading in but that doesn't go with the crypto trading. All you just need is an account in a crypto exchange and you are good to go. So does the gambling sites as well...

In terms of gambling market, you can never play physically when a country has banned the gambling. But in terms of crypto, there is absolutely no restrictions and you can play by using a VPN.

adzino

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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.

DarkDays

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I think cryptocurrencies traders should stick to demo trading platforms for the first few months of their journey. Sure, you'll likely miss out on some profitable trading opportunities, but you will also save yourself some money when you inevitably make serious mistakes.

The cryptocurrency market is no easier to trade than traditional markets like forex and stock indices, don't think that just because you know a thing or two about cryptocurrencies that you are suddenly an expert trader.

Take your time and learn the fundamentals before risking real money.

ScamViruS

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Quote from: Ifemini on April 03, 2020, 02:09:57 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 a trader, you must have confidence. But it will require good trading knowledge. And trading knowledge is not made in one day. If you are a good trader, you have to be patient with trading knowledge. However, there is no basis for all trade wins. Big traders do not always win. There is no system that can take 100% of the winning trades.

mersal

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Quote from: Ifemini on April 03, 2020, 02:09:57 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

Being over confident also sucks,you should have to act according to the situation,if it is going to assit the traders then do trades or just hold trading mode and enjoy the holding.In trading losses happens so no need to worry if you lost money but never go with the money which you can't afford to lose.

Learn different types of trading as well and pick which one suits you most.

Denreal

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As a trader or whoever aspires to become a trader, you would need to quickly study the range of fluctuation in the market, because trading is best done in a fluctuating market. Also, you should expect to see win and loss on trading, but while it seems you are losing, particularly when buying low, in the real sense of it, that is not a loss, but that you are accumulating for the future, for s time that the price will rise again. However, when its rising, do not allow greed to set in. Always take your profit when it is available or at your disposal.

Teawhalee

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Anyone trading without being confident is not yet a trader. The most important thing is yo have enough knowledge to the fullest. This will be bring confidence and assurance anytime you analyse and take trades.

Youghoor

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In addition to what the OP has stated I think crypto traders need to avoid mixing emotions when trading cryptocurrencies. Also, traders should set targets for their trade and also not be greedy waiting for a particular coin to moon before cashing some profits out of it.

Mianae

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As trader, you will not always win there are some times the market reacts to a sudden news. What a trader should learn to do is playing safe if a trade starts to go against you, you close such trade if its in your favour don't be greedy keep to your set targets. The first step is having a trade plan and following it judiciously come what may.

cabron

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I have been trading for awhile to which I came to a realization that only USD matters at some point. When crisis strikes, its the USDT that we kept to hedge. When the bear market came and everyone panics, its the USDT that saves us from not losing more than -80%. So when you trade keep this mindset as always and you'll not lose by holding a coin in unusual times.

cengat

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Quote from: Ifemini on April 03, 2020, 02:09:57 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

Honestly it is more likely that traders need to learn more about companies/coins they are investing in.
Your attitude and confidence matters for your mental health, not for results and profit

Ifemini

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There are consequences for every action

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

Topic: Traders need to learn - page 6. (Read 873 times)