Topic: what do i need to be a successful trader ? (Read 1723 times)
Whatever your strategy is, of course we must always develop it, in the sense that it is always evaluated, so that our development continues to increase. For this reason, continuous practice is needed. because there is no trader without some experience. and from that experience that will make us smarter in trading and form trading intuition naturally. maybe strategy can be learned in theory, but in reality it is experience that will solidify our strategy
The current where risk the board will assist you with limiting your misfortunes while amplifying the benefits, it will assist you with turning into an effective merchant, believe me. I figure connection with dealers will likewise add greater advancement by means of exchanging.
To be a successful entrepreneur, you must have many qualities.You have to work hard and follow all the qualities that other traders have.Because you always have to donate time to learn.Only then can you become a successful trader.
For starters to become a successful trader you must not be affraid to lose trades because you will not always win all your trades and most importantly to stay in the game for a long time... One needs to master the art of risk management which will give you an opportunity of not always loading cash into your trading account.
And lastly dont trade with emotions, enter trades based on analysis not because you lost a bullish trade and want to go all in for a sell... This will cost you, stick to your trading plan.
There is something in the Pregnancy Market whose experience is a part and there is something better about trading here Prakrit If you lose money on the first attempt, on the third attempt or even on the third attempt, it will be seen here that you will lose your maximum. You will be able to take a good amount of profit and if you have no experience of trading then it will be seen that you will only lose. And lastly dont trade with emotions, enter trades based on analysis not because you lost a bullish trade and want to go all in for a sell... This will cost you, stick to your trading plan.
To be a successful trader one must have a good knowledge of different exchanges. Moreover, he must have the right idea about the future of coins.
Good in controlling their emotions and good on controlling their greed and good on making out wise investment decisions and some common sense.Overall you would really
be needing these factors for you to sustain out into this market and you should bare up into your mind that learning everything couldnt be possible but as long you do
gain sufficient experience then you would definitely able to gradually to gain up knowledge which would really be a big help for your success in trading career.
Even though it wont really be that an assured thing but it isnt impossible imho.
I agree, not all succeed even they are fully equipped with knowledge that they needed, some failed because of greed oh maybe most failed because of greed, as even they have good plans before they make an entry but because of over thinking to where the market will proceed, instead of collecting their set targets, they choose to move forward and continue seeking for much better value, ending it up with losing position when the market fluctuates.
Though most are really taking a good path with good knowledge and keeping their trading skills being enhanced, they've got a better chance of collecting winning trades and continue to sort the market and taking a decent amount of benefits.
From here, if you are not well prepared for editing, then you must have a gradual idea. It has been seen that you have no idea. You have started trading with readiness to trade. All the time you will just go to a stage where you will be at a loss, you will stand up, you will be ashamed, all your balance will be zero and you will not be able to gain from here.
Where can I do Bitcoin trading as a beginner?
i learned about
Japanese candles
classic analysis
EW theory
harmonic analysis
and about the Indications, i learned how to use
RSI
MACD
stoch rsi
and volume profile
should I add anything to this?
To be a successful cryptocurrency trader, you must have adequate knowledge. These skills you have acquired are important, but you must also know how to apply them properly. To be a successful trader, you must understand the principles of risk management so that you can plan your trading strategy.Japanese candles
classic analysis
EW theory
harmonic analysis
and about the Indications, i learned how to use
RSI
MACD
stoch rsi
and volume profile
should I add anything to this?
Yes technical terms are much important to analyze the market. And need to get updated with whats going around the coin you have invested in and on crypto industry as the news might affect the growth of the coin you have invested besides the technical terms guidance. Besides all these, needs patience. Yes all struggle in the beginning with panic sales and losses. But yes their experience with strengthen the individual. Patience is he key to take the right and a satisfying decision.
For starters to become a successful trader you must not be affraid to lose trades because you will not always win all your trades and most importantly to stay in the game for a long time... One needs to master the art of risk management which will give you an opportunity of not always loading cash into your trading account.
And lastly dont trade with emotions, enter trades based on analysis not because you lost a bullish trade and want to go all in for a sell... This will cost you, stick to your trading plan.
There is no need to be afraid of losing anything here because part of the experience here is trading. They can get better. To get education here you go to the first endeavor, the second endeavor loses your money in the third endeavor, but this is normal. You need to choose the right strategy. You need feedback. Your sister needs to be raw. You need to learn a good way to train and learn how to do better with less risk. Losing money should not leave you as it is in every business. And lastly dont trade with emotions, enter trades based on analysis not because you lost a bullish trade and want to go all in for a sell... This will cost you, stick to your trading plan.
In terms of the theory that you learn, it's good that you also add skills and experience in trading because just theory is not enough if we don't practice directly. With this experience, we can increase our knowledge as well and we can also see what shortcomings can be improved for the next trade. the point is don't give up easily and keep learning and practicing so you can become a good trader. Becoming a successful trader also takes time, effort, and thought so we need to be patient and never give up on that. the results that will be obtained from trading depend on how we manage the assets we have, so be more careful.
It's true that just relying on theory will not be enough because when we enter the market it will be different,in trading not only requires skills and knowledge but there are several other things that are important to have,
such as managing emotions, analyzing and others are also important therefore trading is not an easy thing and very complex
If you want to become a successful trader, first you must have the willingness to learn. Treat trading as a serious business. Know how to handle your emotions, have a good money management skills, disciplined and be patient.
https://www.investopedia.com/articles/trading/10/top-ten-rules-for-trading.asp
Top 10 Rules For Successful Trading
Rule 1: Always Use a Trading Plan
Rule 2: Treat Trading Like a Business
Rule 3: Use Technology to Your Advantage
Rule 4: Protect Your Trading Capital
Rule 5: Become a Student of the Markets
Rule 6: Risk Only What You Can Afford to Lose
Rule 7: Develop a Methodology Based on Facts
Rule 8: Always Use a Stop Loss
Rule 9: Know When to Stop Trading
Rule 10: Keep Trading in Perspective
https://www.investopedia.com/articles/trading/10/top-ten-rules-for-trading.asp
Top 10 Rules For Successful Trading
Rule 1: Always Use a Trading Plan
Rule 2: Treat Trading Like a Business
Rule 3: Use Technology to Your Advantage
Rule 4: Protect Your Trading Capital
Rule 5: Become a Student of the Markets
Rule 6: Risk Only What You Can Afford to Lose
Rule 7: Develop a Methodology Based on Facts
Rule 8: Always Use a Stop Loss
Rule 9: Know When to Stop Trading
Rule 10: Keep Trading in Perspective
The first thing you need to do to become a successful Tate trader here is to never lose your temper. You can be a successful trader only if you accept that it will be profitable for you at some point and you have to be alone.
Temper has to do with emotion so yes it is needed because trading is a stressful activity. Different emotions can come depending on the flow of the price and to the news that your going to hear around you so it's important that we have a control of our emotion or self so that you won't get carried away and make a wrong decision because that can affect your trading performances and worst can make you lose.Accepting the reality or the fact that trading is risky and there's no way to make easy money can make you feel more contented or confident about your trade. That's one way indeed to become successful but I don't get what you mean by "to be alone"? but most traders are already trading alone although it can be beneficial to work on a team of traders.
Most of those who succeed in this field are the ones who are good at controlling their emotions. Instead of quickly judging the market, they pause for a while to study the flow. It's important to have a good mindset while working in this industry. Many failed because of following their emotions instead of working it out and find the value of any decision making that they are taking.
It's true that a successful trader begins with working with knowledge, investing with proper education in terms of the system
that they'll going to use when dealing with this kind of industry.
be needing these factors for you to sustain out into this market and you should bare up into your mind that learning everything couldnt be possible but as long you do
gain sufficient experience then you would definitely able to gradually to gain up knowledge which would really be a big help for your success in trading career.
Even though it wont really be that an assured thing but it isnt impossible imho.
The first thing you need to do to become a successful Tate trader here is to never lose your temper. You can be a successful trader only if you accept that it will be profitable for you at some point and you have to be alone.
Temper has to do with emotion so yes it is needed because trading is a stressful activity. Different emotions can come depending on the flow of the price and to the news that your going to hear around you so it's important that we have a control of our emotion or self so that you won't get carried away and make a wrong decision because that can affect your trading performances and worst can make you lose.Accepting the reality or the fact that trading is risky and there's no way to make easy money can make you feel more contented or confident about your trade. That's one way indeed to become successful but I don't get what you mean by "to be alone"? but most traders are already trading alone although it can be beneficial to work on a team of traders.
Most of those who succeed in this field are the ones who are good at controlling their emotions. Instead of quickly judging the market, they pause for a while to study the flow. It's important to have a good mindset while working in this industry. Many failed because of following their emotions instead of working it out and find the value of any decision making that they are taking.
It's true that a successful trader begins with working with knowledge, investing with proper education in terms of the system
that they'll going to use when dealing with this kind of industry.
all you need is to always be hungry for knowledge so that you will continue to strive to upgrade your trading skills and mental. Have you ever asked yourself, what would you do if you saw your asset valuation drop below 50%? you must find and do the best answer, remember never to sell when you are losing, it is a condition not to lose when trading.
I think its enough for a beginner. You have already discuss about the basic knowledge. The next thing is that how you run with the market. It is very important to judge the situation of market. If you judge the direction of market then it is very easy to trade in market. And the one more thing you only discuss about indicators. You did not not discuss about time frame. It is another most important thing brother. Keep it in mind.
The first thing you need to do to become a successful Tate trader here is to never lose your temper. You can be a successful trader only if you accept that it will be profitable for you at some point and you have to be alone.
Temper has to do with emotion so yes it is needed because trading is a stressful activity. Different emotions can come depending on the flow of the price and to the news that your going to hear around you so it's important that we have a control of our emotion or self so that you won't get carried away and make a wrong decision because that can affect your trading performances and worst can make you lose.Accepting the reality or the fact that trading is risky and there's no way to make easy money can make you feel more contented or confident about your trade. That's one way indeed to become successful but I don't get what you mean by "to be alone"? but most traders are already trading alone although it can be beneficial to work on a team of traders.
The first thing you need to do to become a successful Tate trader here is to never lose your temper. You can be a successful trader only if you accept that it will be profitable for you at some point and you have to be alone.
Being a successful trader needs so many requirements,in order to be a successful trader,one must have the ability to have a nose for good coins.He must be able to make research,read,learn and study the best times to invest and when not to invest atall.There are so many things that a successful trader needs in other to be the best in what he does.He needs enough capital to start his business too,securing the right coins and selling them when they've done well is another thing that a trader must do to be successful in what he does.
Read about the coin you want to invest in,research more about quality and promising coins,learn from what has happened to others in the process of investing.
Read about the coin you want to invest in,research more about quality and promising coins,learn from what has happened to others in the process of investing.
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