considering the fact that trading is highly profitable and responds majorly to knowledge and skills, this means its needs full attention and concentration consistently. i have noticed alot of new and upcoming trader gets carried away easily with little profits or loss. this makes many to quit or feel complascent. becoming a good trader is like going to a school, you do all necessary things consistently without any distraction untill you succeed. this is one of the things that i feel is needed to incorporate into trading learning process and lifestyle.
I would think that this should have been incredibly obvious and yet most people do not know this, revealing the low level of knowledge they have about trading and the markets in general, trading is hard anyone that says otherwise is lying or does not know what they are talking about, and the only way to become successful at it is to always watch the markets as you do not want to miss a single opportunity, as those opportunities appear and disappear relatively quickly.
Topic: trading needs consistent attention and full concentration - page 5. (Read 992 times)
~....this means its needs full attention and concentration consistently.... ~
This is why I stopped day trading back in 2019. It was eating all of my time that I could have spent in something more...fun. I mean I already have my job, and I would cut off tired and just straight up looking at the charts is kind of tiring even during my day-offs.
It is usually we are dragged by some influential people who told us that trading is profitable and easy, well, it was different when we are in actual trading and we can feel the difficulties especially when we struggled to understand the situation and suffering losses.
In trading, we are indeed required to explore deeper trading knowledge and don't be complacent with the results we get. so psychologically we have to feel we still have a lot of shortcomings so that this is a motivation for us to study harder and work harder
It means that we need to go beyond what we have today and make every day a habit to learn more until we find enough to deal with the market behavior.It is likely to have the confidence and when we feel that we got what we want to happen on our trades.
All of this stuff needs passion and motivation, and we don't have to underestimate trading. Many got to fall and suffer failures because of such action and we don't need to be like them, otherwsie.
Depending on self preference since not all would really be that having that kind of mindset but since we do have own decisions in life then its up to personal choice on which path you would take.
Neither you do focus on having a job and would enjoy it or would rather stick out on boring things but you are earning more? You can choose which one but for me i would rather choose
on seeing those charts and would really be cherishing out bigger income or profits even though nothing is assured but still you know the things you could do when you do have
more money compared into those day workers out there.
For some trading is kind of fun that it doesn't get them bored while they're doing it even it cost them all day to do the thing but there are also some of us who didn't a full time trader which also have had some things to do aside from trading. But here's one thing I know as a trader it may really cost you time and effort and it requires a constant learning because the price is not constant same also as the trend. As the trend keep on constant changing then the need for us to be updated and learn new things is a must.
In trading, we are indeed required to explore deeper trading knowledge and don't be complacent with the results we get. so psychologically we have to feel we still have a lot of shortcomings so that this is a motivation for us to study harder and work harder
It means that we need to go beyond what we have today and make every day a habit to learn more until we find enough to deal with the market behavior.It is likely to have the confidence and when we feel that we got what we want to happen on our trades.
All of this stuff needs passion and motivation, and we don't have to underestimate trading. Many got to fall and suffer failures because of such action and we don't need to be like them, otherwsie.
The title's right, that's why you should think twice before getting in trading because it will take up a lot of your time and you will be surprised if you underestimate the time needed to trade each day especially when the market is bearish and you have to watch out for opportunities.
In trading, we are indeed required to explore deeper trading knowledge and don't be complacent with the results we get. so psychologically we have to feel we still have a lot of shortcomings so that this is a motivation for us to study harder and work harder
considering the fact that trading is highly profitable and responds majorly to knowledge and skills, this means its needs full attention and concentration consistently. i have noticed alot of new and upcoming trader gets carried away easily with little profits or loss. this makes many to quit or feel complascent. becoming a good trader is like going to a school, you do all necessary things consistently without any distraction untill you succeed. this is one of the things that i feel is needed to incorporate into trading learning process and lifestyle.
It's normal for them to get carried away because they're only thinking of the return and that's why with even a small loss, they're already panicking but that's not a good take on this market because it reflects the results as they trade. Actually, it's good that they quit quickly so that they can save themselves from further losses which might happen if they stay for so long in the market that they're not accustomed to.money or risk taking and its on different level on each person so you would really see different outcomes about this and when talking about things needed about trading then it would really be needing full attention and concentration for you to succeed even though its not guaranteed but you would likely to succeed into this market if you do have this kind of behavior unlike others which do easily
quit when they do experience first loss.
considering the fact that trading is highly profitable and responds majorly to knowledge and skills, this means its needs full attention and concentration consistently. i have noticed alot of new and upcoming trader gets carried away easily with little profits or loss. this makes many to quit or feel complascent. becoming a good trader is like going to a school, you do all necessary things consistently without any distraction untill you succeed. this is one of the things that i feel is needed to incorporate into trading learning process and lifestyle.
When it comes to short-term trading, it is necessary to do so, but in my view of trading I prefer to do it in the medium and long term, I have found that peace of mind in trading is the best thing to have.
My technique is the following, I place an order where there is stop loss and take profit, I just have to wait to see what happens, and so I don't have to be stuck to the PC.
In my beginnings I always operated without detaching myself from the PC but that did not give me time in my daily life to do anything, just wait and see the PC, and that is not healthy either, I think that trading should be seen as a business, at least I have. learned from the books and advice of the great masters of trading, such as Wyckoff, Livermore, among others.
considering the fact that trading is highly profitable and responds majorly to knowledge and skills, this means its needs full attention and concentration consistently. i have noticed alot of new and upcoming trader gets carried away easily with little profits or loss. this makes many to quit or feel complascent. becoming a good trader is like going to a school, you do all necessary things consistently without any distraction untill you succeed. this is one of the things that i feel is needed to incorporate into trading learning process and lifestyle.
It's normal for them to get carried away because they're only thinking of the return and that's why with even a small loss, they're already panicking but that's not a good take on this market because it reflects the results as they trade. Actually, it's good that they quit quickly so that they can save themselves from further losses which might happen if they stay for so long in the market that they're not accustomed to.money or risk taking and its on different level on each person so you would really see different outcomes about this and when talking about things needed about trading then it would really be needing full attention and concentration for you to succeed even though its not guaranteed but you would likely to succeed into this market if you do have this kind of behavior unlike others which do easily
quit when they do experience first loss.
considering the fact that trading is highly profitable and responds majorly to knowledge and skills, this means its needs full attention and concentration consistently. i have noticed alot of new and upcoming trader gets carried away easily with little profits or loss. this makes many to quit or feel complascent. becoming a good trader is like going to a school, you do all necessary things consistently without any distraction untill you succeed. this is one of the things that i feel is needed to incorporate into trading learning process and lifestyle.
It's normal for them to get carried away because they're only thinking of the return and that's why with even a small loss, they're already panicking but that's not a good take on this market because it reflects the results as they trade. Actually, it's good that they quit quickly so that they can save themselves from further losses which might happen if they stay for so long in the market that they're not accustomed to. 
~....this means its needs full attention and concentration consistently.... ~
This is why I stopped day trading back in 2019. It was eating all of my time that I could have spent in something more...fun. I mean I already have my job, and I would cut off tired and just straight up looking at the charts is kind of tiring even during my day-offs.
Neither you do focus on having a job and would enjoy it or would rather stick out on boring things but you are earning more? You can choose which one but for me i would rather choose
on seeing those charts and would really be cherishing out bigger income or profits even though nothing is assured but still you know the things you could do when you do have
more money compared into those day workers out there.
~....this means its needs full attention and concentration consistently.... ~
This is why I stopped day trading back in 2019. It was eating all of my time that I could have spent in something more...fun. I mean I already have my job, and I would cut off tired and just straight up looking at the charts is kind of tiring even during my day-offs.
considering the fact that trading is highly profitable and responds majorly to knowledge and skills, this means its needs full attention and concentration consistently. i have noticed alot of new and upcoming trader gets carried away easily with little profits or loss. this makes many to quit or feel complascent. becoming a good trader is like going to a school, you do all necessary things consistently without any distraction untill you succeed. this is one of the things that i feel is needed to incorporate into trading learning process and lifestyle.
Being a trader is not easy, that’s why you will see a lot of people losing their money. You have to give it a lot of attention and you also have to be ready to learn all the time. By learning you will understand what works and what doesn’t. You have to understand the market that you’re into before you will start seeing success in it.It’s just like some that would complain that technical analysis isn’t working for them in the market of cryptocurrency. They are forgetting that it is not just about technical analysis, you also have to consider other things that happens in the market, and you have to add fundamental analysis to it. So being a successful trader takes a lot of hard work.
considering the fact that trading is highly profitable and responds majorly to knowledge and skills, this means its needs full attention and concentration consistently. i have noticed alot of new and upcoming trader gets carried away easily with little profits or loss. this makes many to quit or feel complascent. becoming a good trader is like going to a school, you do all necessary things consistently without any distraction untill you succeed. this is one of the things that i feel is needed to incorporate into trading learning process and lifestyle.
I would think that this should have been incredibly obvious and yet most people do not know this, revealing the low level of knowledge they have about trading and the markets in general, trading is hard anyone that says otherwise is lying or does not know what they are talking about, and the only way to become successful at it is to always watch the markets as you do not want to miss a single opportunity, as those opportunities appear and disappear relatively quickly. I say just do the swing traders do, you position when the price is at the lowest point and hold and then sell when the price is at its peak. By this, you don't have to put all your concentration.
How do you know which point is the highest and lowest point?
The highest and lowest points are summed up after the fact.
It is difficult for people to judge when trading.
There are indicators for this like the RSI which in different time frames like in daily chart if you trade in this timeframe you will see the RSI pointed which is high and low.
Circled in green is the highest point and the lowest point. if it doesn't reach that point, you can just sit back and wait. But then this is a daily chart, going over to the weekly chart is where you can see indicators are reacting differently.
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considering the fact that trading is highly profitable and responds majorly to knowledge and skills, this means its needs full attention and concentration consistently.
Well said, the reason many traders aren't succeeding at their trade is because they're yet to understand what they're getting themselves into. Some traders hardly give the market any attention talk more of concentration. Which is why the bear always exposed the fraud they're. They basically just speculate on the market without any analysis and because it was the bull market, they come out successful and you'll mistake them to be traders.
Like others source of income that shouldn't be taken for granted so is trading, you have to keep out time to learn more and perfect your already existing knowledge on trading. If you don't do so you'll be left in the pasts and still be using outdated techniques to try tackling the market which will most likely keep you losing.
Strategy are to be updated as the market matures, if the strategy you used few years ago aren't bringing in the profits anymore then you have to update yours. Practice is what makes you perfect and if you want to become a professional traders then you have to keep practicing constantly and sooner or later trading will become a part of you.
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Ofcourse it is, the fact that you acknowledges that trading could be really profitable could also means that trading could cause a big loss as well, remember that the profit or losses we score depends on ourselves and market decision.
People should know that trading which are short term usually requires dedication like a fulltime job to make profit.
People should know that trading which are short term usually requires dedication like a fulltime job to make profit.
In my opinion trading requires very high patience because I see when trading many of them are easily influenced by the bad news, whereas if you are not affected you will make a lot of profit, whereas if you are easily influenced it will be difficult to make a profit. so in my opinion when trading you should be able to choose coins carefully so that your patience can make a profit.
if you have enough knowledge and you know how to control your emotions when trading probably you will not get affected on what negative news occurred in the space, because what i know of being a good trader you should know what are the most important information to prevent such issue, if not and you will just rely on your skills then it's like you put your self in the middle of a war without any weapon.. So be smart enough and don't make the things rush when it comes trading because this isn't easy task wherein you can fix all the bad situations without doing anything. considering the fact that trading is highly profitable and responds majorly to knowledge and skills
Not only is it profitable, it is highly risky which is why knowledge is the key to this industry and requires some patience because successful traders don't trade everyday, you need to scan for high probability trading setups. In my opinion trading requires very high patience
Patience very important and that's one thing you learn the Hard way because your mentors, trading coaches don't tell you,experience teaches you this lesson. Jump to: