Topic: Wait for the right set-up - page 3. (Read 577 times)
I have seen many newbies say that trading is easy money. You will become rich overnight if you trade. But they are forgetting the golden rule that, trading is equally risky and you can also lose your bankroll, your hard earned money in an overnight. So yes, you need to give time to the market and wait for the perfect time to trade. Once you find the good set up, use some of your balance to take little profits from the market with little risk. In this manner you can really make good money.
Repeated trading does not mean you will be more profitable. Those who think like that can never make a profit by trading. Trading cannot be over-leveraged. Trading always requires knowledge and skill. The rules of trading include that too much leverage brings trading losses. You made a profit in the first two trades but in the third trade you might lose all your capital. Every job has a structured set of rules. That is, each task has a defined setup. It is possible to get success if you work accordingly. To be successful, certain rules of work must be followed.
People actually don't know how important it is to wait for the right set-up, some traders think that the more you trade the more money you make which is very much unlikely, trading doesn't work like that, you might make a lot of money from 5 to 7 trades, and use just only one trade to lose everything including your initial magin.
That's what most think of trading, they're only looking at that time when it's profitable. But, they have to remember that not everyon becomes successful so quickly with their very first trades.Telling that they can make money with 5-7 trades, that's even a quick and lucky time to trade and make money out of someone's trade.
Because the normal process will have to make someone the most of losses first before going on with profitability.
But waiting for the right set-up gives you an edge in the market
I think whatever you said is true and I highly agree with it. A good trader often waits for the right opportunity and when he/she sees that opportunity then he/she makes a trade. In my eyes, a good trader is like a good hunter, a good hunter waits for the right opportunity to attack the prey and in the same way a good trader waits for the right opportunity to make the trades.
Those traders who make many trades a day are the greedy fellows who can lose everything with a few wrong trades. So, it's 10x better to be patient trader than a greedy fellow.
People actually don't know how important it is to wait for the right set-up, some traders think that the more you trade the more money you make which is very much unlikely, trading doesn't work like that, you might make a lot of money from 5 to 7 trades, and use just only one trade to lose everything including your initial magin.
A really good concern Op you've indicated the more you trade the more you earn is not a fact, but an inner feeling we call greed, TBH on the trading field as Op mentioned the right set-up in my terminology I call it the right ball haha which is inspired from cricket, stand on the pitch and wait for the right ball to score a six, these six's make your portfolio 4x 10x and whatever you expect from them.
I'm not saying don't trade, trade to stick to the market wait for a good opportunity with your saved capital and then score a six. To score big you need to save yourself.
People actually don't know how important it is to wait for the right set-up, some traders think that the more you trade the more money you make which is very much unlikely, trading doesn't work like that, you might make a lot of money from 5 to 7 trades, and use just only one trade to lose everything including your initial magin.
But waiting for the right set-up gives you an edge in the market, when you trade only when you sees an opportunity, you will mostly comes out profitable, as long as you knows the craft a little, but probing the market every now and then will only make you lose money, because trading is more of patience and knowledge.
But waiting for the right set-up gives you an edge in the market, when you trade only when you sees an opportunity, you will mostly comes out profitable, as long as you knows the craft a little, but probing the market every now and then will only make you lose money, because trading is more of patience and knowledge.
The problem most traders have is a lack of patience and emotional control. Some traders see a big candle and decide to act on it, abandoning their previous well-thought-out strategy for emotional desire. And then what happens? Reversal, loss of control, panic-selling.
But waiting for the right set-up gives you an edge in the market
I think whatever you said is true and I highly agree with it. A good trader often waits for the right opportunity and when he/she sees that opportunity then he/she makes a trade. In my eyes, a good trader is like a good hunter, a good hunter waits for the right opportunity to attack the prey and in the same way a good trader waits for the right opportunity to make the trades.
Those traders who make many trades a day are the greedy fellows who can lose everything with a few wrong trades. So, it's 10x better to be patient trader than a greedy fellow.
People actually don't know how important it is to wait for the right set-up, some traders think that the more you trade the more money you make which is very much unlikely, trading doesn't work like that, you might make a lot of money from 5 to 7 trades, and use just only one trade to lose everything including your initial magin.
As much as I think your idea about having many open trades looks bad, I don't really think it's really that bad to have many open trades as long as you can manage. Maybe as a new trader, I will say you don't need it because might not have understand how the market works but a professional trader can has 6 open trades, 3 can give him each 20% each and the remaining 3 can give him 5% each. When you do the maths, you will have 60% profits and 15% losses. If you subtract profits from loss, you will have a realized profits of 45% for that day, I hope you see why some traders has many open trades.
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But waiting for the right set-up gives you an edge in the market, when you trade only when you sees an opportunity, you will mostly comes out profitable, as long as you knows the craft a little, but probing the market every now and then will only make you lose money, because trading is more of patience and knowledge.
Your idea is cool but works very well during the bear market. In a bull run where you can literally see all coins becomes greenish in profits, it will be difficult to applied them here because what you are saying actually works better in bull run but you need to also applied risk management into your train, it's not every trade you see too good you should put money into, you might experience bad result.
People actually don't know how important it is to wait for the right set-up, some traders think that the more you trade the more money you make which is very much unlikely, trading doesn't work like that, you might make a lot of money from 5 to 7 trades, and use just only one trade to lose everything including your initial magin.
That's what most think of trading, they're only looking at that time when it's profitable. But, they have to remember that not everyon becomes successful so quickly with their very first trades.Telling that they can make money with 5-7 trades, that's even a quick and lucky time to trade and make money out of someone's trade.
Because the normal process will have to make someone the most of losses first before going on with profitability.
hero member
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Well, in trading, you cannot be 100% accurate all the time. There are still times when you will think that you have seen a great opportunity to enter a trading position and make a profit. The moment you enter that trading position, the market can just take a big turn against you, and you will still end up losing.
I am not doubting that there are times when the chance of making a profit is usually high and a risk is worth taking. Sometimes that opportunity can look very bright, but the moment you enter the trade, the reverse can be the case, and the trader will still face losses.
As a trader, it's good to keep learning, master your strategy, and always readjust to changes. Look out for better trading opportunities, but always know that opportunities don't workout all the time. That's why I said, readjust to changes.
I am not doubting that there are times when the chance of making a profit is usually high and a risk is worth taking. Sometimes that opportunity can look very bright, but the moment you enter the trade, the reverse can be the case, and the trader will still face losses.
As a trader, it's good to keep learning, master your strategy, and always readjust to changes. Look out for better trading opportunities, but always know that opportunities don't workout all the time. That's why I said, readjust to changes.
Every trader counts meaning to every set-up, they sees it as something that could fetched them good profit in they enters the market. Then when trading we have to classify the kind of trading they are involving themselves, is it spot trading, future trading or forex or binary trade. There results are not alway the same with those who are trading on spot, somethings Binary is more risky and have a very tendency to lose and sweep one equity unlike the forex that people most monitor weekly days, the best day and best time to trade.
In summary spot trading seems to be the easiest and simplest one to trade on and risk level is not that higher, one can still trade comfortably even though the market isn't going that find. Whichever trader makes money either bear run or bull run.
In summary spot trading seems to be the easiest and simplest one to trade on and risk level is not that higher, one can still trade comfortably even though the market isn't going that find. Whichever trader makes money either bear run or bull run.
People actually don't know how important it is to wait for the right set-up, some traders think that the more you trade the more money you make which is very much unlikely, trading doesn't work like that, you might make a lot of money from 5 to 7 trades, and use just only one trade to lose everything including your initial magin.
But waiting for the right set-up gives you an edge in the market, when you trade only when you sees an opportunity, you will mostly comes out profitable, as long as you knows the craft a little, but probing the market every now and then will only make you lose money, because trading is more of patience and knowledge.
But waiting for the right set-up gives you an edge in the market, when you trade only when you sees an opportunity, you will mostly comes out profitable, as long as you knows the craft a little, but probing the market every now and then will only make you lose money, because trading is more of patience and knowledge.
Others just copy, others are too lazy to study, so they only guess,
and others think that trading is just gambling, even though it really isn't.
A very good and experience trader do not take anything less than 1-3 risk reward ratio, because it's just like you are risking 20 dollar on a single trade to make 60 dollar if it goes your way, so if you can win like 40% of the trade you took, then you will surely be a profitable traders, but if you are taking 1-1 or 1-2 risk reward ratio, you would need to win like 70% of your trade before you can be profitable, which is very difficult to achieve.
People actually don't know how important it is to wait for the right set-up, some traders think that the more you trade the more money you make which is very much unlikely, trading doesn't work like that, you might make a lot of money from 5 to 7 trades, and use just only one trade to lose everything including your initial magin.
But waiting for the right set-up gives you an edge in the market, when you trade only when you sees an opportunity, you will mostly comes out profitable, as long as you knows the craft a little, but probing the market every now and then will only make you lose money, because trading is more of patience and knowledge.
But waiting for the right set-up gives you an edge in the market, when you trade only when you sees an opportunity, you will mostly comes out profitable, as long as you knows the craft a little, but probing the market every now and then will only make you lose money, because trading is more of patience and knowledge.
You know that the strategy that a trader uses in the cryptocurrency that we belong to is different. Others just copy, others are too lazy to study, so they only guess,
and others think that trading is just gambling, even though it really isn't.
So, if you are going to trade, you must have a basis, and you must also have a broad knowledge of trading. Just remember that knowing always beats the ignorant, or don't forget that.
People actually don't know how important it is to wait for the right set-up, some traders think that the more you trade the more money you make which is very much unlikely, trading doesn't work like that, you might make a lot of money from 5 to 7 trades, and use just only one trade to lose everything including your initial magin.
But waiting for the right set-up gives you an edge in the market, when you trade only when you sees an opportunity, you will mostly comes out profitable, as long as you knows the craft a little, but probing the market every now and then will only make you lose money, because trading is more of patience and knowledge.
This simple thing is actually what I also do in my daily trading. I don't always continue to place trading positions if I don't see momentum or the right time to place a position to start my trading. And everything must be done by starting with small analyzes as a warm-up and then looking for trading pairs that match the candles and charts that are formed and where to start entering. But before I decide to place a position and enter a trading pair, first I always check fundamentally whether the trading pair has any interesting news or an event that will or has already taken place. And then if it turns out there is an event that will take place then I will also assess how strong the hype can be created with a similar event. If everything shows a suitable moment to enter, then I determine the right position or price to take a position by carrying out technical analysis again. And at the right time trade orders will be filled and profits can begin to be seen. and sometimes to pick up our orders we also need small corrections in the market. And that is something that is most looked forward to. Because after a correction there will definitely be a reversal if technically, fundamentally and sentimentally the market has time to go up. So in essence even a day trader doesn't actually place a lot of trades in a short time. Most of the time we sometimes spend longer in analysis and wait for the right moment. Because if we just enter the market, we could continue to make profits in several positions and then run out again because of one position at the end. Which makes a trader feel frustrated in the end because they feel they have won before. But because of greed, sometimes they increase their capital when placing a position, so they have the potential to experience bigger losses if they lose or make a mistake in the analysis for the last position. And it would actually be better to take a break from trading and get into market monitoring mode. Instead of continuing to force trading when emotions start to dominate our trading decisions. Because usually I will stop trading if emotions start to interfere with my analysis or emotions start to interfere in decision making. But waiting for the right set-up gives you an edge in the market, when you trade only when you sees an opportunity, you will mostly comes out profitable, as long as you knows the craft a little, but probing the market every now and then will only make you lose money, because trading is more of patience and knowledge.
People actually don't know how important it is to wait for the right set-up, some traders think that the more you trade the more money you make which is very much unlikely, trading doesn't work like that, you might make a lot of money from 5 to 7 trades, and use just only one trade to lose everything including your initial magin.
Experienced traders have memorized which parts can provide good opportunities in each market situation. They can also experience things they never expected in the market even though the strategy they implemented was very good. The strategy used by the trader can have an influence on the results, but not all opportunities can be obtained on the chosen coin.For me, knowing which coins to choose for trading is better because not all coins are likely to provide profits with the settings set as well as possible.
Just like the rest been saying that you cant just make yourself that put up a position without any basis or some analysis on which we do know that this is something that crucial.
I believe it depends on your strategy butt it's important that you manage your risk. You can trade a lot if you are a market maker, but if not, you are a swing trader. It's mostly dependent on what your goal is but if you were to trade, I believe in the long-term with the long trades, like you might be holding for a long time for a month, but when you profit, you really boom, you know?
The right setup should be waited and back test a lot so you would know if it's an effective strategy or not.
The right setup should be waited and back test a lot so you would know if it's an effective strategy or not.
legendary
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Losing your money in one trade seems more in the lines of margin trading or all that non-spot trading. In spot you at least have the opposite asset at hand to sell, even though its price may depreciate. Of course in spot trading we need to be careful when you are buying or selling which is the crux of this concept. If you buy at the wrong level you will have to hold that till the crossing over occurs so you can break even and then further in order to profit. You will be paying for your mistake with time.
With dummy trading and watching the older charts, one can get an idea about this. However trading is not for everyone and if this does not seem to work out, dont trade anymore.
With dummy trading and watching the older charts, one can get an idea about this. However trading is not for everyone and if this does not seem to work out, dont trade anymore.
People actually don't know how important it is to wait for the right set-up, some traders think that the more you trade the more money you make which is very much unlikely, trading doesn't work like that, you might make a lot of money from 5 to 7 trades, and use just only one trade to lose everything including your initial magin.
Experienced traders have memorized which parts can provide good opportunities in each market situation. They can also experience things they never expected in the market even though the strategy they implemented was very good. The strategy used by the trader can have an influence on the results, but not all opportunities can be obtained on the chosen coin.For me, knowing which coins to choose for trading is better because not all coins are likely to provide profits with the settings set as well as possible.
People actually don't know how important it is to wait for the right set-up, some traders think that the more you trade the more money you make which is very much unlikely, trading doesn't work like that, you might make a lot of money from 5 to 7 trades, and use just only one trade to lose everything including your initial magin.
But waiting for the right set-up gives you an edge in the market, when you trade only when you sees an opportunity, you will mostly comes out profitable, as long as you knows the craft a little, but probing the market every now and then will only make you lose money, because trading is more of patience and knowledge.
But waiting for the right set-up gives you an edge in the market, when you trade only when you sees an opportunity, you will mostly comes out profitable, as long as you knows the craft a little, but probing the market every now and then will only make you lose money, because trading is more of patience and knowledge.
I think it's easier if we only think of being consistent. Trading is just like gambling, you analyze the data but it doesn't guarantee you a win, you win some and you lose some, that's it. But if you are good in managing your funds, and you have more good prediction than bad, then in the long run, you'll be profitable. I'm talking about day trading here as I think that's what you want to discuss about.
Long term and short term investment, this day trading belonged to the short term and honestly I find it more challenging that long term, but the moment you master your skills in trading, you should have a smooth ride.
Traders are actually aware to trade only when the right set-up is achieved, or when there is perfect opportunity to trade. However, not all traders are patient enough to wait for that to come, and majority are greedy to make quick profits. This is why majority of traders end up losing their trades, despite of their proven skills and strategies that work in trading.
Trading is not just a mental skill but an emotional skill as well. If you cannot timing your trades, because of lack of patience and discipline, then always anticipate losses afterwards.
Trading is not just a mental skill but an emotional skill as well. If you cannot timing your trades, because of lack of patience and discipline, then always anticipate losses afterwards.
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