trading needs consistent attention and full concentration - page 6.

GreatArkansas

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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.

Patience without consistency and concentration is useless. OP is right, the title of this thread says it all.
Consistency is one of the major problems of newbies, especially those people who started to trade and after few trades, they stopped and after a few days/weeks, they trade again and stop again, with no consistency.
Especially they stop when they already lost, then very huge possibility that you will not get your loss back if you stop.

Hypnosis00

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Quote from: Cherylstar86 on July 19, 2021, 05:23:21 PM

When you're into this type of income generating ways in trading, attention and concentration was just a matter of desire. If you don't have that, I guess trading wouldn't become productive because for me that's a career which involves skills and knowledge. Every successful trader undergone several challenges, however they're able to handle everything despite of struggles.

It is an absolute loss on our side. And this is common to happen for those who just jump on the market without a single knowledge about trading and they only have is capital to start. This a big mistake and found to be regretting and we can never expect that this person could generate profit but just losing their money instantly.

As we know that there is no joke in trading, it involves money and that's it needs serious attention and it is fully equipped with knowledge and skill if we want to make a profit out of trading.

Cherylstar86

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When you're into this type of income generating ways in trading, attention and concentration was just a matter of desire. If you don't have that, I guess trading wouldn't become productive because for me that's a career which involves skills and knowledge. Every successful trader undergone several challenges, however they're able to handle everything despite of struggles.

Vaculin

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Winding down.

Quote from: doctor877 on July 18, 2021, 05:21:05 PM

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 becomes highly profitable if you know how to do it. As I can say that trading is not just about learning the basics but it requires a high level of market knowledge. It gonna be continuous development and that it takes time before we finally reach where we can say that we becoming pro traders. But if we don't take this seriously, we can't also expect good results. It should have a sort of focus and dedication in order to success.

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Quote from: doctor877 on July 18, 2021, 05:21:05 PM

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.

Not only trading but in all things in life you are engage on would really be needing that consistency and concentration for you to succeed because if you do just wander around without any designated goal or something
then you arent doing things seriously.

Specially on trading where you do deal up with moving price so you would really be needing that attention and concentration or else you would really be lost on track.

Dealing with volatile market isnt something that anyone could handle off this is why these behavior or factors is really needed.

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Quote from: Alisha-k on July 19, 2021, 03:39:11 PM

A good trader is a consistent reader. You can't succeed in trading without consistency in reading. Trading is like every other occupation that requires practice and consistency just that in trading you deal with monetary equivalent either crypto or forex and has such emotions must play out so its wiser to have proper knowledge and skills which would require consistent updating.

To be successful at any endeavour, constant practice and time devotion is essential to become a master of the trade. Even the best traders I know in the crypto space are constantly learning and adapting. Any trader who isn't ready to learn and adapt won't last long. This is a problem I've noticed with most new and beginning traders. You won't get very far if you only learn and don't practice it on a regular basis. As someone who has tried trading and programming (I'm a comp. Science major), Its clear that every skill not just trading needs constant learning and practice to strive and survive. Enough said.

Alisha-k

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A good trader is a consistent reader. You can't succeed in trading without consistency in reading. Trading is like every other occupation that requires practice and consistency just that in trading you deal with monetary equivalent either crypto or forex and has such emotions must play out so its wiser to have proper knowledge and skills which would require consistent updating.

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Quote from: ReiMomo on July 19, 2021, 12:25:35 PM

Need to consider trading as a serious and professional platform where one has to constantly update oneself.

It definitely is, yes. You only need to look at the computer setup of professional traders like @philakonecrypto:

Source

Especially with intra-day trades it is often a matter of seconds when the trend turns, so the faster you notice the trading opportunity, the higher the chance that you can successfully use it.

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Quote from: doctor877 on July 18, 2021, 05:21:05 PM

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.

Right. Need to consider trading as a serious and professional platform where one has to constantly update oneself. As like, one is responsible and dedicated towards his/her career, trading should be taken in seriously. Better to even spend a percentage of amount to learn techniques, graphs moments and etc which is the key of trading.

Silberman

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Quote from: doctor877 on July 18, 2021, 05:21:05 PM

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.

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Quote from: Wexnident on July 19, 2021, 12:27:39 AM

And I wouldn't blame them for that. Controlling emotions and understanding the concept of which trading is both losing and winning takes time to actually take in. A LOT of time imo.

Controlling emotion is very difficult when you are in open positions, use leverages, especially if you are trading with big capital and with loan capital.

Vital advice, always use your own money to trade or invest. Loan will cause pressure of loan repayment and loan interests as well. When you have unstable emotion and are under pressure of loan repayment, you might make bad decisions. Consequently, loses will knock your doors.

Instead of trading, let's buy, dca and hodl!

Check DCA and get estimation for your scheduled DCA at https://dcabtc.com/

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Quote from: doctor877 on July 18, 2021, 05:21:05 PM

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.

That's true! If you want to earn bigger profit in trading, you should learn both technical and fundamental analysis, put a lot of time and focus, and of course a huge capital. The amount of profit is base on your capital and on how you do trading. Be a good learner to be a good and successful trader.

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Quote from: Peanutswar on July 19, 2021, 07:16:12 AM

Depends on your trading plan and trading time some of the people having their trading plan because this serves as a guide to the traders if you don't have a plan you cannot make a trade because once you lose your path it's too hard for you to make decisions.

Trading time is the most important thing you need to consider when you are in the market or not this serves as a good strategy to win when the market is active once it happens you need to make more conscious because of active volatility.

We can guarantee when will the time the prices is good to trade. The market is too volatile and prices moves too fast or low. Having time to do charting and studying the possible effects of the price increases and dump can help but being able to monitor thoroughly in any time of the day will be much better especially if we are a day trader.

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Quote from: doctor877 on July 18, 2021, 05:21:05 PM

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.

Some people took trading as a full time job thus they wouldn't treat with it levity they traded with most seriousness and gave it attention, of course I don't expect any experienced trader to risk their hard earned money deposited in a broker or exchange and play around with trading knowing that a lot of skills and knowledge must be implemented to guarantee consistent profit earning else such a trader portfolio will get rekt within the shortest period of time unfortunately this is mostly common to newbie traders who without acquiring all the necessary skills jumped into trading with a mindset of making huge profits in a bid to becoming rick quickly.

ipanks

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Trading needs focus and concentration besides knowledge and skills. Traders can not feel satisfied with what they achieve because they need to adjust their skills every day. After all, the market also changes up and down. That is why they need to learn without stopping to improve their skills and learn more lessons from many good sources. Maybe we can not always make a profit, but we need to keep trying because we need to become pro traders and succeed. Enjoy the process of trading while you learn and you will see that you will get a good result in the future.

Peanutswar

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Depends on your trading plan and trading time some of the people having their trading plan because this serves as a guide to the traders if you don't have a plan you cannot make a trade because once you lose your path it's too hard for you to make decisions.

Trading time is the most important thing you need to consider when you are in the market or not this serves as a good strategy to win when the market is active once it happens you need to make more conscious because of active volatility.

palle11

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Quote from: doctor877 on July 18, 2021, 05:21:05 PM

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.

Trading is just the way life is. The the things you need to do in life to achieve your goals and they are
1. Consistent
2.Patient
3.Good passion
4. Looking and working on little details

These above three are important to our lives as living life itself is trade so we need them. Someone who is not patient who always quit at a little challenge. No trading strategy is perfect because all of them have their errors but being able to work it out takes being consistent, good passion and identifying the errors which are the little details.

Kimberl2020

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Quote from: bittraffic on July 19, 2021, 04:28:32 AM

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.

cryptomaniac_xxx

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Quote from: doctor877 on July 18, 2021, 05:21:05 PM

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.

Mostly newbie traders are emotional, so most likely they are carried away specially if they see huge margin profit in the beginning. But make no mistakes about it, trading is a journey and you won't always win. Those who stay in the game and learn from this mistakes will possibly succeed. But there are a lot of factors to consider, capital for example is one of the most important. That's why there are whales in this game and most likely they are going to profit bigger than average joe.

bittraffic

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You don't always win in trading even with your full concentration particularly in crypto because even if you are good in technical analysis the fundamental news will affect the market. Some of us said that because of the Bitcoin adoption the market isn't very risky but the truth is that it is still affected with just a simple fud and then your position in the market comes trembling.

When you say full concentration, you have to eat, drink and sleep with all the bitcoin news to be profitable. 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.

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