Topic: Wait for the right set-up - page 3. (Read 1227 times)

In my opinion, if you see the setup you want in the market, you should trade. Seeing the setup you want will not always show up, and it needs a lot of time. It's an opportunity, I would always trade with that setup because waiting can sometimes cause unnecessary decisions that will lead us to trade without the clear analysis.

This is a main point that is making so many users lose in the trading, they don't wait for their rights time, and some people's problems are their lack of trading experience. Because once some people's win a huge amount of money in trading with in 2 to 6 days, they will be thinking that is how they will win, and some will take all this amount of money that they win and take it to trading so that they win  earn a huge profit. They are unaware that any of the successful things also have a failure time. 
Waiting for the right time to come is the best key to everyone's success, because if a person has a plan for trading and has also done much research on market strategies, they will not see trading as a difficult thing. Because some people's doesn't have the patience about the trading and that's they definitely lose to the trading immediately they introduce themselves into trading.

Trying to figure out a way where you can make a lot of money is not that easy, and you should probably consider how hard it would be, so you wouldn't be too upset about it. I understand that we are not going to end up with anything that crazy, but we need to just realize that it is not going to be too simple. Which is why I think it should be something that will take a while, but not going to be impossible to handle.

We need to just make sure that we know what we are doing, and as long as we can do that, then there won't be any issues at all. Of course you can't make money at all turns, but at the very least you could make more profit than you lose, and if you can handle that, then you are going to end up with a greater return without a doubt.

It is actually more on discovering strategies that are applicable in the market condition. I usually set for 1hour time frame but also it changes depending on the market trend. It varies and we keep on searching for the best strategy that works so well which is why experience and patience are very important. That is why trading never works for people who are impatient and those who keep rushing because trading it is not a simple job that we learn in just a few days but months and even it takes years. Our experience. In reality, we make losses first before earning a profit sadly, most traders don't understand.

Honestly I actually fell into this trap of trading many setup when I started trading unfortunately in the long run ended in streak of losses, however I took my time off from other stuffs to do more research on trading and I later discovered that 2 to 3  A+ weekly with atleast 1:2 RR is enough to become profitable that has also enable me to frame my setup from weekly timeframe down to 4 hour timeframe while entry is on 15 or 5 minutes timeframe that means I have to exercise enough patience for the setup to materialized before taking my entry with consistent profit taking which is better than taking as many trades.

I don't think you constructed this well as they look looped together and expose that you might not really be a trader, or you are not deep in it. First, having the perfect setup before you pull the trigger has nothing to do with a "guarantee," (no one is preaching that in this context), but a means for you to have a trading system and plan and also strictly follow them with all determination. This doesn't mean there won't be challenges in trading as no one can vouch for a 100% winning system, so that's not the point. The point is for traders to be patient for their trading setup to fully align and I am certain that the trader who does this frequently will have an increased winning percentage.

However, fine, traders can lose at any time as no trader or system is perfect, but the shortcomings that the trader could lose at times will be covered up with viable money and risk management. That is trading for you! There are already laid down rules if one can explore them properly. Nevertheless one thing that is certain is for the trader to ensure that he first fully understands what he is doing before totally giving in to trading. Once you know it and your system is working fine, trust it and follow it without doubts or change of plan which makes many traders lose their money through impatience, greed and fear.

 

Trading is something that needs attention and concentration especially must be informed and study various coin to trade. Most of those coin that are launching newly in the market doesn't have any dependency like a form of reliability so when dealing with these coin they should do more research about them because one could eventually buy to trade and it automatically dump on them.

Trading can never guarantee profits especially that there is high probability that the market will end up at the opposite end. That’s how unpredictable the market is, that even if we are seeing a big chance to be in profits at the beginning of our trade but when the market suddenly becomes unfavorable, our trades will definitely end up in losses as well. That is why patience is a must in trading, otherwise we will be trading at a loss most often if we fail to recognize even the basics in trading. Study the market first before one should decide to get into trading.

They say too much of anything is bad , and with regards to trading.. over trading can easily go from winning to losing in a split second and before you know it you are chasing your losses which if you don't back down early with the capital left , it could mean being liquidated to zero.

I just wish many of us watched some podcasts or vlogs of some of the profitable traders out there...most have already said their secret to their success is less trading to protect their capital and proper risk management. Guys and girls success is a slow process, don't rush it!!

I like this, but prefer if you said stick to your strategy because as far as I know, most traders have A setups and B setups and waiting for the A setup always could mean not trading at all.

Trading can sometimes be very tempting especially when you are making profits while trading but you have to control your urge and wait for your setups.
If you can't control your emotions and just dive in to pick every other trade then you will just be losing money.
I have done the same and lost quite a significant portion from my portfolio and so I have learnt my lesson and now I wait for the right setup to get an entry.

Well said, one thing that is sure in Trading is having the right mindset, plan and rules which you abide by as a Trader, the funny thing here is many Traders do not value this they feel with strategy everything is good.
As Traders we must have patience and trust our edge which helps us to wait for the right time to snipe the market and we are good wether it was a loss or win but very happy we did the right thing. This is what differentiate Profitable Traders from Unprofitable Traders, and the reason only few achieve great result.

that's right. Waiting for the moment on a particular asset is better than looking for an asset and forcing it to trade. the results will not be optimal.
most beginners force their trades because they are excited about their new knowledge regarding trading. and make a few trades that they think will be more profitable than focusing on just a few trades.

if you have ever been in a beginner position without much experience. when you profit in trading one particular asset. There is a tendency that you will repeat yourself with that asset. even though with different market situations, the planning carried out must also be different.

The more you trade, the more profit you will get. This type of investment is believed only by those who have not acquired much knowledge about trading or do not have enough knowledge about trading. Generally we all know that in trading one must wait for the right time.  Newbies who trade must first gain good knowledge about the trade and then trade. Many newbies trade in a hurry without understanding the trade relationship.  As a result of this trade they cannot be very profitable and on the contrary face losses. In trading, we must have a long-term plan. If we can trade with a long-term trading plan, we will definitely be one of the successful traders. There are many people who think that they will become millionaires quickly by trading for a short period of time, but it is not right to trade with such a mindset, because of which he will suffer greatly. In the field of trade, many big traders also lose patience. So patience is very important. We must not lose patience. If we can trade patiently with a long term plan then surely the purpose for which we trade will be successful and we will be able to earn a substantial amount of profit from the trade.

You have to understand trading before you go into it very well, trading is not something you should be unserious with, because you’ve been winning winning and you just feel like putting more and more sometimes get it right and after staking some more money and find out that the game wasn’t so good and you lost it, you have to take a good step on gaming despite that you have been winning you should understand very before putting in another game

Maybe that's the right setup for them, the more trade they do the more chances of winning their trades will be.

And so, that's the belief that they're having because they potentially think that they need to have more trades to be done for them to attract more chances of winning.

Well, somehow there's half truth with that but on trading. You need to study very well the market and the charts and you'll be the one reading it with the candles and I agree, you need to do it with the right setup.

From those factors that you know as a trader, you'll get the idea on how to do it very well but you'll learn it the hard way because you might get a lot of losses first.

Not that people don't know how to wait for the right set up, just that they are comfortable with the little profits they are earning from the trading, not knowing that they can earn more than what they are earning from the short term trading.

There are some people that like long term trading, but base some financial issues surrounding them, it will be difficult for them to wait for bull run before they can trade and it will make many things happen that will make people to mock at them, which are the reasons some people don't wait for the right set up in the market.

And, for you to see that opportunity in a bigger way, you have to wait till bull run occur which is the best season you can accumulate profits, but if you fail to wait till bull run before you trade, there is no way you can improve higher in your trading.

If someone loses in trading then they don't learn to minimize these mistakes but they are in struggle to accumulate more money to recover their loss but recovering your loss is not easy without learning about your mistakes. Complete knowledge is very much necessary and because of this knowledge trading is different from gambling but if someone trades without knowledge then there remains no difference between trading and gambling as a result of which you will just lose your money.

Trading needs more consciousness and if you don't give time to knowledge then there are more chances to lose your trade instead of getting success in it. Sometimes you are using accurate knowledge but the market is not in your favor due to which you lose money so I think not just knowledge but making trade on accurate timing is also necessary.

There is no such thing as 100% percent in trading, the same way you will gain here, the marketplace will force you to lose in the same way. Because when you make a lot of profit, you open a large trade, then the market will make you lose. If you survive wisely here in the market you can survive long. Besides, you can never last long in the market. How many dollars will you lose per day and how many dollars will you profit per day. Be sure to identify these limitations.

Bro, one of the major reason why people most people accumulate a lot of losses in trading is that they don't know when to trade and when not to trade, they will see a market consolidating, and they will choose too trade instead of waiting till the market go out of consolidation, because they fail to understand that it's not how active you are in the market that makes you profitable, but it's by how technically sound you are in the business that makes profitable.

Lastly, you also need to understand that when trading, if you don't know how to control your emotions, you will find yourself doing things you out not to be doing and that will definitely cost you dearly, because  trading is 90% psychology and 10% technicality and execution,so the earlier you understand that waiting for the right set-up is very important, the better.

Not even newbies think that, what are you talking about OP? Most traders aren't your average dumbass that would just think such a simple concept, pretty sure that some people know about the risks that entails trading so I don't think that anyone thinks that way, most likely you're the only one that thinks this one OP sorry. I'm in all agreement with what you're saying though, wait for the right time to trade so you don't lose the money and that you can enjoy your profits, learning the patterns that the market make might also help you a lot given that even in the unpredictability of the market, there will always be times where in the pattern it's basically repeated if you can compare it, sure the price is different but how they move is what you should be looking for.