Want to achieve success in trading? - page 3.

gabbie2010

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Quote from: Coin-Desk on June 17, 2019, 06:13:40 AM

Trading is not easy at all. It is very difficult and technical work. It is difficult to achieve success in trading. I am giving some tips which hope to work better in trading. Hopefully these will be successful in trading if you follow them.

Set your goal first
Do not invest more than you can afford
Be patient
Use prudent leverage
Stay aware

Its easier said than done obviously its a big challenge to follows those itemized points when it comes to live trading a lot of traders emotionally or psychologically might not follow those rules again having incurred some losses in some trades and in a bid to recover those losses they bypass those rules and at the end incurred more losses having a mindset of greediness to their detriment of their set rules.
Experience matters most when becoming a successful trader because such a trader had been well punished by the market thus will trade with caution.

EdenHazard

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Being a successfull in trading field are not about how much strategies do you have but more than that you should have a lot practices and experiences. What I have been felt when I do trade it is not all about buy low and sell high or put the management risk on the first strategy also how much money that I can afford to lose it is not about them. You will find another lose when you ignore your privously trade which mean the experience when you get a lose or you get profit you don't make an evaluation against it. Remember the sentence of the history will repeat itself it is very useful in trading too, pay attention about market condition and remember it maybe it will be good for you.

mersal

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Quote from: bettercrypto on June 24, 2019, 08:43:26 AM

Quote from: Coin-Desk on June 17, 2019, 06:13:40 AM

Trading is not easy at all. It is very difficult and technical work. It is difficult to achieve success in trading. I am giving some tips which hope to work better in trading. Hopefully these will be successful in trading if you follow them.

Set your goal first
Do not invest more than you can afford
Be patient
Use prudent leverage
Stay aware

Those are good tips in trading but I think there still one left. We need to be determined and faithful. We can perfect our trades. In fact, if you have patience soon it will die! Specially, if you see that there is nothing changes. Therefore, determination is good because you always have dedication to pursue even you are in the darkest nights. Being faithful also, not in yourself but by Divine Providence. It may help you to accomplish your trades and be successful.

There is no perfect trades,we just need to assume them as because prices changing for minutes to minutes so it may increase or decrease at the next moment so all you need to do is concentrate on how much money you want to make .

Anyway it is an easy job but not easy to be successful in the long run so it might need determination as well to stay without quitting even when the market is deep down.

bettercrypto

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Quote from: Coin-Desk on June 17, 2019, 06:13:40 AM

Trading is not easy at all. It is very difficult and technical work. It is difficult to achieve success in trading. I am giving some tips which hope to work better in trading. Hopefully these will be successful in trading if you follow them.

Set your goal first
Do not invest more than you can afford
Be patient
Use prudent leverage
Stay aware

Those are good tips in trading but I think there still one left. We need to be determined and faithful. We can perfect our trades. In fact, if you have patience soon it will die! Specially, if you see that there is nothing changes. Therefore, determination is good because you always have dedication to pursue even you are in the darkest nights. Being faithful also, not in yourself but by Divine Providence. It may help you to accomplish your trades and be successful.

sana54210

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Quote from: DoublerHunter on June 19, 2019, 12:17:04 AM

Well, those are not always the things you have to adapt if you want to be a successful trader. I understand the point you have since you considered trading as an investment. But technically it's not, it is a separate category. Investing and trading are two factors you cannot compare that much. If you want to be successful in trading, guts and risks are always there. You have to be hurt before becoming a successful one. Experience is always the best teacher. Being naive is really not a good thing. You have to learn and eat more food first!

I often do hear these statement a lot that one has to be hurt to become a successful trader,, I know that trading is full of risk, but there is a stage you get to with practice that the real live trading becomes easy for us,.

The reason why many of us feel we have to loose several trades before we can become perfect is because we use live trading for practice which is not right, one thing I learnt from my mentor is that you can start getting it right the moment you start live trading, but you must have practiced a lot for months and years through demo, this is the path many does not want to take, they learn a little and start using live trading as practice which I don’t think is the best approach.

maxreish

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It is better if you elaborate all the tips you have mentioned here. And also, it is very important for a trader to control their emotions. Greed and regrets, those two we should manage when their is unexpected sideways in the market. Also, do not follow the trend. When most of the traders sell, do not sell. That's how it works often times.

I also agree that setting lowest leverage like 2-5% is better to save from the liquidation. The higher the leverage, the higher chance of being liquidated.

coinluisa

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Quote from: Coin-Desk on June 17, 2019, 06:13:40 AM

Trading is not easy at all. It is very difficult and technical work. It is difficult to achieve success in trading. I am giving some tips which hope to work better in trading. Hopefully these will be successful in trading if you follow them.

Set your goal first
Do not invest more than you can afford
Be patient
Use prudent leverage
Stay aware

That's true it's not easy it comes in trading we need a lot of idea and strategy to make it successful our trades in crypto. Because the crypto market is volatile. Any many thing will be need to avoid and needed to apply to ourself especially patience.

zhekinsp

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If you want to achieve something in your life you need to be Adamant on that then only the success will give the hand for you otherwise if you don't take any effort are don't have any mind about the success then it will not easily came to.

Golftech

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Quote from: Findingnemo on June 23, 2019, 10:31:43 AM

Quote from: Coin-Desk on June 17, 2019, 06:13:40 AM

Trading is not easy at all. It is very difficult and technical work. It is difficult to achieve success in trading. I am giving some tips which hope to work better in trading. Hopefully these will be successful in trading if you follow them.

Set your goal first
Do not invest more than you can afford
Be patient
Use prudent leverage
Stay aware

Start crypto trading if you are curious to take risks at any moment and also you need to live an uncertain life.This might not suitable for the people who always think conservative so choose trading depends on your mindset.

Choose trading depending on what capabilities you have, there's always factors that needs to affects your mindset when you are inside this market,
each time you make any decisions you should keep following your plans, never to over react and keep your assets safe free from fuds.

JohnBitCo

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Quote from: Coin-Desk on June 17, 2019, 06:13:40 AM

Trading is not easy at all. It is very difficult and technical work. It is difficult to achieve success in trading. I am giving some tips which hope to work better in trading. Hopefully these will be successful in trading if you follow them.

Set your goal first
Do not invest more than you can afford
Be patient
Use prudent leverage
Stay aware

Everyone is aware of these best practices in trading but very few follow it religiously. In most cases emotion take control of over us when we do trading and then we beginning to ignore these golden rules. To be remain patient in trading is most difficult things as we are also tempted to panic sell and fomo buy in trading.

Things to avoid in trading:

1- Fomo Buying
2- Panic selling

Rufsilf

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Quote from: Coin-Desk on June 17, 2019, 06:13:40 AM

Trading is not easy at all. It is very difficult and technical work. It is difficult to achieve success in trading. I am giving some tips which hope to work better in trading. Hopefully these will be successful in trading if you follow them.

Set your goal first
Do not invest more than you can afford
Be patient
Use prudent leverage
Stay aware

Sure did, trading can be very difficult if you haven’t study about trading, in trading you have to be patient because you have to study hard to become a good trader, you may need to experience losses to become better. Trading is a serious thing that we should not be joking about.

Kiefner

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You very briefly wrote those tips that everyone knows and adheres to them. These topics on the forum very much. Therefore, your advice is no different from others.

ryzaadit

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Basic step and everyone already doing all of this, but still getting lost on their capital. Would be glad if you share your result trade history at here too, not only just make this guide/tips without a proof you already successful doing this guide/tips went you doing a trade activity.

Findingnemo

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Quote from: Coin-Desk on June 17, 2019, 06:13:40 AM

Trading is not easy at all. It is very difficult and technical work. It is difficult to achieve success in trading. I am giving some tips which hope to work better in trading. Hopefully these will be successful in trading if you follow them.

Set your goal first
Do not invest more than you can afford
Be patient
Use prudent leverage
Stay aware

Start crypto trading if you are curious to take risks at any moment and also you need to live an uncertain life.This might not suitable for the people who always think conservative so choose trading depends on your mindset.

Clark05

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Most of the tips that you given is common tips and most of us already know that. Being patient of course that is number 1 needed of the trader to achieve success in the fields of the crypto trading.

Tips is always a tips person maybe the person excluded the other tips or ignore because maybe they have other things or ways to achieve they want.

jack8989

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Quote from: RealMalatesta on June 23, 2019, 06:55:15 AM

Quote from: Coin-Desk on June 17, 2019, 06:13:40 AM

Trading is not easy at all. It is very difficult and technical work. It is difficult to achieve success in trading. I am giving some tips which hope to work better in trading. Hopefully these will be successful in trading if you follow them.

Set your goal first
Do not invest more than you can afford
Be patient
Use prudent leverage
Stay aware

Your points are straight and clear, but I usually advise people against leveraging, maybe because of my own sad experience, because one thing I have learnt about leveraging is that it attracts greed. Everyone know how good the profit can be when you apply leverage, and at first, a trader could follow the rule to apply prudent leverage, but when he sees what leveraging can do, he will be tempted to increase the leverage out of risk believing it will work at that point.

The moment a trader gets tempted to start increasing his leverage, is the moment he starts a journey to losing his trade, thiswas what destroyed my trade, although I have learnt my lessons, but it is better to stay away from it.

Yes, I totally agree with your opinion. There are quite a lot of exchange giving great offers and for us to try out transactions with $ 10k. That will make us excited and know that we will easily make a lot of money.
But margin trading is really a big threat for greedy people and there is not much knowledge about trading.
stay away from it because many millionaires have committed suicide because of market volatility.

RealMalatesta

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Quote from: Coin-Desk on June 17, 2019, 06:13:40 AM

Trading is not easy at all. It is very difficult and technical work. It is difficult to achieve success in trading. I am giving some tips which hope to work better in trading. Hopefully these will be successful in trading if you follow them.

Set your goal first
Do not invest more than you can afford
Be patient
Use prudent leverage
Stay aware

Your points are straight and clear, but I usually advise people against leveraging, maybe because of my own sad experience, because one thing I have learnt about leveraging is that it attracts greed. Everyone know how good the profit can be when you apply leverage, and at first, a trader could follow the rule to apply prudent leverage, but when he sees what leveraging can do, he will be tempted to increase the leverage out of risk believing it will work at that point.

The moment a trader gets tempted to start increasing his leverage, is the moment he starts a journey to losing his trade, thiswas what destroyed my trade, although I have learnt my lessons, but it is better to stay away from it.

Thanasis

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Quote from: quality.crypto on June 20, 2019, 07:11:21 AM

Quote from: agatha90 on June 20, 2019, 06:55:07 AM

Don't calculate profit-loss per trading position; but per certain period of time, for example per week, per month, you can install at different prices. And accuracy must be needed, so that we don't miss the moment when prices rise.

Most of the investor will bother much about the day trading only because at the end of the day what was the amount they made a profit on their investment. See there are failures and people who made a huge amount of money through trading, it completely depends upon their patience and ability to wait for it in the long term.

Day trading always been like that,you can't expect to make profits everyday but one day can even make you from recover all the previous day losses so keep day trading when you can handle the losses and make up for it on the next trades or just long term trading would be perfect.

quality.crypto

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Quote from: agatha90 on June 20, 2019, 06:55:07 AM

Don't calculate profit-loss per trading position; but per certain period of time, for example per week, per month, you can install at different prices. And accuracy must be needed, so that we don't miss the moment when prices rise.

Most of the investor will bother much about the day trading only because at the end of the day what was the amount they made a profit on their investment. See there are failures and people who made a huge amount of money through trading, it completely depends upon their patience and ability to wait for it in the long term.

agatha90

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Don't calculate profit-loss per trading position; but per certain period of time, for example per week, per month, you can install at different prices. And accuracy must be needed, so that we don't miss the moment when prices rise.

Topic: Want to achieve success in trading? - page 3. (Read 888 times)