Topic: Unknown fact our profitable colleagues won't tell us - page 3. (Read 716 times)

It's really true, a successful trader is constantly learning. At the same time, he arranges, so to speak, a natural selection of knowledge and ideas. He discards those ideas and practices that did not suit him and did not justify themselves in trading; leaves those that pass the test. As a result, he gradually accumulates a baggage of ideas and technologies for profitable trading.
       There is such a thing as the evolution of a trader. This is a thing that is not customary to talk about. For some reason, it is believed that a trader should stop developing and not learn anything new.

Such traders will only regret it. they may see a colleague who is successful with trading. and those who saw it wanted to start and follow his successful path. they thought it would be as easy as making a profit. but without knowledge and experience, trading will only give you losses.
Beginners and experienced traders alike must take lessons from every trade they make. it can provide advantages or disadvantages. everything is developing and if we can't adapt to the market, then we will be left behind.

This, people out there seem to think that to become traders the only thing they need to do is to open an account at an exchange, make some trades and money will follow, but trading is way more complicated than that, you need to select your trades very carefully and let the market come to you, and if a trader cannot do this then they have almost no chance to succeed as they will take any trade that may come their way, not understanding they need to be way more selective than that.

Losses are inevitable for traders, even if they are experts. Perhaps the difference is that the percentage of losses they will receive will be lower compared to a beginner or someone who is learning about trading.
Profits and losses will always go hand in hand in trading, we do not abolish either of the 2 words. Maybe minimizing it is the best word to say someone who is already an expert in trading. The market cannot be predicted precisely every time, especially this is a trade that once the movement will be very detrimental. Unlike investment which does take a very long time to take profits.

It's not possible for a trader to always achieve a specific profit target with their trades. So you can't win 60% or more out of all your trades if you are aiming for a 1:3 risk-reward ratio. A trader needs to settle down with much lower rewards on a lot of occasions, and they might lose bigger trades than what they have gained in earlier trades. Cryptocurrency trading is just like a rollercoaster, it has a lot of ups and downs but it's also fun sometimes.

The cryptocurrency market is highly unpredictable, and that is the reason why even the experts have to face losses sometimes, and that's not a problem at all as long as you are not giving up. A trader must learn from what they experience and improve their knowledge and skills to become more efficient with their trades.

This is what people should realize on the first place so that they wont really be finding themselves really that impulsive on the thing that they are doing. If they are really that making themselves that having those kind of mindset on which it really turns out that they are really that making themselves delusional then this is something that they must avoid it on the first place. If you are that someone who do have those kind of hopes and targets in the first place then it cant really be denied that it would really be that making you desperate and this is where actions that had been made would really be definitely be ending up into those actions
which arent supposed to be done.

Trading is something that wont really be easy because if it was easy in the first place, then tons of people would already be that making money and making themselves that rich but we know that
this is a market that cant really be just easily be handled in the first place. Its not something that you could be able to learn overnight and this would really be  taking up years
and would really be that involving tons of trial and error which you do need to handle.

In fact, that's a very easy way of catching who isn't a trader but claims they're. Anyone who tells you they don't lose trades just know they're lying. Every professional trader you see now do experience moment of loss too. What makes someone a profitable trader isn't because they don't lose trades but because they have short or small loses with long and big wins. That's the only way they will remain profitable. In trading, no one holds the holy grail. We're all speculators. If anyone were sure where the marked is accurately headed every time, they would be very rich overnight.

In a normal circumstances, its obvious that trading is something we know that have to do with research and careful and consciousness, so when you come in aspect of trading, it's quite obvious that trading don't have to do without continuous learning, its a skill that you need to note down any point of what you are doing, so I believe that when you learn trading today and you continue to practice trading their is some certain things you have learn again in addition of what you have experienced when practicing than the one you learnt

You cannot stick to the one and only strategy that you know when it comes to crypto trading. 1:3 ratio is a good start but without proper knowledge or a decent strategy, you may lose everything. The cryptocurrency market is evolving every second and only technical analysis is not enough to survive in this evolving market. Sometimes quantity beats quality. Even if you are making less profit, you can do multiple trades to make that numbers go up.

It is important to know that many have become successful by following certain strategy but it does not apply to everyone because those who are successful have some kind of skills within them. Not everyone can do that.

That's true.

Your quality of your trades and how much they are in with those are the most important ones. Because if you're not going to be buying that much and you're always on timing with your sell offs. That's what matters.

The timing that you do and the execution of your trades are the ones that's going to make you money. Even if they're few but the accuracy is 100% and ratio you're doing is favorable for profit, it is what is giving the profitability of a trader.

It's the whole point of proper risk management. The trader already knows that his trader are not going to be 100% wins, and therefore ensures he does not blow off his account to zero because of a few bad trades. The aim is to “Live to fight” another day in case the trade they made was a wrong call.

A very good winner is the one who is consistently winning if checked on the long run. In the words of the Op, no one has a crystal balls, it is a fact. At some points in time, strategies fail, even if you are well desciplined and has a very high risk management skill, a bad day will still be a bad day whenever it wants to.

OP, when I read the title of your thread, I was expecting some huge facts I haven't known. Sorry, I was somewhat disappointed. Not that what you said isn't nice or a good fact, but my expectation was high.

For us to make profits from the market, we need to get prepared and learn from the best. I have seen people asking random questions about trading here which is not supposed to be so. These are questions that need to ask but not in the forum if we know what we are doing as traders. These kind of questions need to be forwarded to our trading mentors or people that taught us how to trade.
Trading is very rewarding if we are patient and get the whole story learning without becoming too desperate to make quick money.

OP, all you mentioned showed that you know more about trading but I want to ask how successful have you been in trading, if you have been very successful I will like you to do me a favour by giving me more tips, I remember what I read about trading that involving yourself in trading does not guarantee success and again trade with what you can afford to lose, I begin to think about this orientation, I found out that the trading itself is not safe and any occurrence is bound to happen at any time, and also as a trader, you should be ready to either lose or gain, Op I sincerely appreciate you because you experience and all you have said, you just made me to get some point straight.

Risk to reward ratio is only one of such tip from profitable traders, there are some other little things that some of them have learnt from over the years of trading that can only be acquired by experience. From some conversations I have had with traders who have proven results, there is always some new things to learn. Some traders will tell you to set a strong support line at the beginning of the week to observe the trend the market is taking for that week, some will tell you to not trade on too many pairs, etc. the thing is that there is always a personal tip from every trader you meet. The more you meet professional traders and have personal heart to heart conversation with them about trading, the more you learn.

Quality over quantity would be always the best approach but people would really be trying to cope up and trying to achieve on having multiple trades but quality ones.Yes, it would really be that good if you do be able to reach out such condition or situation but we know that it wont really be that something simple but rather it would be a challenging one. I dont know on why topic title is really that totally derailed if we do speak about on the topic content itself on a side note- Going focus on that title first, no colleagues would really be telling you about their winning or losing trades on which it would be normal that we would really be that skeptical on showing up our negative or losing side even if on how close you are with your friend or to those people who you are with unless if there's someone whose really that too open then they might be telling you.

Second situation about on the methods on making yourself that profitable, then its your call and no matter on how you do deal up with those price movements then it would always be that just that depending
on how you do be able to assess such conditions on which it would be always that reflecting on how well you do make out those kind of decisions into your advantage. Thing here is that you should really be that knowing
on what you are doing and what are the targets that you are really trying out to achieve.

Multiple trades will only make one to become confuse especially if he's a newbie in the market. We don't know how it works but we just have to stick to a plan and ensure we grab significant profits and enable our stands in the space.  This present day, no one is after the crucial experience imitated, what we're all after is the profits we will draft from the space. Every trader that's actively in the market knows the specified strategy that works for him and most of these traders wouldn't want a situation were they will share the strategy that would bring enormous profits on the table.

There are different strategies implemented by traders and I don't think 1:3 ratio will be of any good, there is a huge difference between writing stuffs about trading and actually trading and following it. I don't believe in this ratio rather I believe in my own rules which I have set for trading which is a mix of multiple trades with small profits instead of waiting for one big trade. I know most of the traders don't prefer multiple trades of small profit but it has worked well for me.

It is true that psychological training is essential in helping traders become better at dealing with the challenges that exist in the financial markets and achieve success in the long term. Because no matter how smart our analysis techniques are, without good psychology, our trading and even our lives will definitely be in shambles.

In my opinion, a good psychological exercise is to trade directly using small amounts of money so that later you get used to it and create experience. We can also learn from mistakes in trading so we can reduce the same mistakes. That way we will survive, even if it hasn't improved, at least if we can survive, that's good. If you say practice, then people will think of a demo account.

You can’t make it so big in trading if you only relent on the 1:3 risk ratio for a very long time. More experienced and technical traders take higher risks than that because of the reward that comes with it and how big they will make it when they increase the risk ratio. I am not going against your logic, but it is mostly suitable for beginners and inexperienced traders that are still yet to know the difference between good and bad trades. If you can tell a good trade, you won’t have a second thought on whether to increase the reward ratio or leave it in that manner when you want to make lots of profit.