what do i need to be a successful trader ? - page 10.

pragna

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Quote from: Mahmoud70 on February 11, 2021, 05:55:25 PM

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?

I think theoretical things only look beautiful in book but if you want to be a successful trader you must need practical experience. So you should go for small amount trading to take practical experience or you can go side by another big traders who can give you teach from his practical experience. In my life i lose may money to see the book trading but fail to implement as practical market not the same as book market. This is only assumptions.

Porfirii

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And if you don't have experience in advance, I would start with little positions and then go increasing them gradually at the same time you gain some experience in trading.

Of course, another thing that you need to be a successful trader is to invest the money you don't need and you wouldn't mind to lose. If not, you'll finish making some bad movements due to the pressure of not being able to suffer more loss, and you could end up liquidated.

Atek33

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Of course I want to tell you that if you want to be a full and successful trader then you must take training from a good friend about trading before you can work in online market so that you can easily trade and train a good amount. You can change your position so that you can improve to the best of your ability and you must be trained to be a perfect trader.

Sled

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Quote from: geegaw on February 14, 2021, 07:42:03 AM

Quote from: Sled on February 14, 2021, 02:50:48 AM

Quote from: seleme on February 13, 2021, 05:31:47 PM

snip~

But only a few people could manage to do it and that is a reason why many who tried trading will fail. I may not call myself a successful trader as I don't have any impressive results to show and I only have limited knowledge in TA but the good thing is that I was able to make money by just using my guts and relying on the candlestick.

maybe there is a thing I need to improve but as the situation given to us, and that I feel confident to continue by using what I learn base on my experience, I think this was enough.

I would love your comment because you are an honest person when you talk about your experiences in trading, you accept yourself as a very ordinary trader and nothing stands out, talk about limitations but in return, you keep growing on that experience, I believe you will soon become a successful trader while others talk about techniques, very common problems, they never succeed and what they say is just theory. If someone asks me about this question, I can only say that they need to create their path, the surrounding experience is just the basis for the development, not the path they need to take

I don't want to think I was really good at trading, I'd rather have to keep myself innocent and empty when talking like this and this gives me a reason to improve rather than having too much confidence. I know there are a lot of trading tools and strategies that exist but this only gives me a headache and not able to use them in real life.

In fact, this will not measure if you are a successful trader because you have them all, but it was referring to how much we achieve. And I notice that it is more effective and has efficient results if we are focusing on 1-2 trading tools.

Natsuu

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Quote from: Mahmoud70 on February 11, 2021, 05:55:25 PM

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?

1. Discipline - This is one of the fundamental attributes that a trader "MUST" have. Though discipline can be nutured by;
2. Experience - By gaining this, you can adopt to the sudden changes in the market and trading environment.

gideonpadang

newbie

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Kindly use a Trading Plan, Exert effort and always think that Trading Like a Business, protect Your Trading Capital, study the markets and most especially invest what u can afford to lose! Want to trade profitable with crypto? ETH is the best choice!

geegaw

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Quote from: Sled on February 14, 2021, 02:50:48 AM

Quote from: seleme on February 13, 2021, 05:31:47 PM

A successful trader is the trader who can make money and get REKT less frequently. The technical analysis is not as important as you mentioned in the first post, the combination of fundamental, technical, sentimental analyses are very important for being successful in trading.

But only a few people could manage to do it and that is a reason why many who tried trading will fail. I may not call myself a successful trader as I don't have any impressive results to show and I only have limited knowledge in TA but the good thing is that I was able to make money by just using my guts and relying on the candlestick.

maybe there is a thing I need to improve but as the situation given to us, and that I feel confident to continue by using what I learn base on my experience, I think this was enough.

I would love your comment because you are an honest person when you talk about your experiences in trading, you accept yourself as a very ordinary trader and nothing stands out, talk about limitations but in return, you keep growing on that experience, I believe you will soon become a successful trader while others talk about techniques, very common problems, they never succeed and what they say is just theory. If someone asks me about this question, I can only say that they need to create their path, the surrounding experience is just the basis for the development, not the path they need to take

iv4n

legendary

Activity: 3122

Merit: 1171

To be a successful trader you need to make profit most of the time! And if your successful rate is over 70-80%, that is a success!
How to make profit all the time?! It's the tricky part, you can use any tool you want, you can read related news, you can check what others think and their predictions... but in the end it's up to you how process information, your conclusions, and in the end your final decision!
So what's important is to find your own ways, in terms of information processing and choice of trading strategies! Of course before everything you need to learn about bankroll management! After all, your success will depend on your capital and how you use it!

chippy.hogan

newbie

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Its all about the your skill with Technical analysis and not sleeping most of the time

Sled

hero member

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Bitcoin- in bullish time

Quote from: seleme on February 13, 2021, 05:31:47 PM

A successful trader is the trader who can make money and get REKT less frequently. The technical analysis is not as important as you mentioned in the first post, the combination of fundamental, technical, sentimental analyses are very important for being successful in trading.

But only a few people could manage to do it and that is a reason why many who tried trading will fail. I may not call myself a successful trader as I don't have any impressive results to show and I only have limited knowledge in TA but the good thing is that I was able to make money by just using my guts and relying on the candlestick.

maybe there is a thing I need to improve but as the situation given to us, and that I feel confident to continue by using what I learn base on my experience, I think this was enough.

CryptopreneurBrainboss

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Quote from: Atek33 on February 12, 2021, 08:56:31 AM

Of course I want to tell you that the first thing you need to do is if you have a friend or someone who is trading, then of course I think you need to get some idea from them because it will give you a little more idea about your trading.

That should no way be the very first thing you'll need to become a successful traders, we have professional today that started without having anyone to mentor then physically beside we're in a time where all the mentorship you need can be gotten from who even your adore from the comfort of your home through visual or voice platforms. The very first thing you'll need is determination back by willingness to learn and take corrections.

Trading has more to do with experience, as the time goes by you'll perfect whatever strategy you're working on if you stay focus and not get distracted by all the distractions the market has. If you deployed your strategy and work on them, with time you'll become a professional in that area.

Why many traders fail is because of greed and lack of determination to succeed as a trader, they come in to make money but fail to learn along the way.

seleme

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A successful trader is the trader who can make money and get REKT less frequently. The technical analysis is not as important as you mentioned in the first post, the combination of fundamental, technical, sentimental analyses are very important for being successful in trading.

Quote from: Renampun on February 13, 2021, 05:19:00 PM

Quote from: Mahmoud70 on February 11, 2021, 05:55:25 PM

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?

*what you learn is only the theory of trading...
Trading is not an exact science that can only learn theory, it takes a strong mentality and also careful analysis to be able to make a profit. It has been discussed hundreds of times in this thread that theory must be mentally balanced so that you can make the right decision to sell or buy.

The mental side of trading is important too but there are more important things before the mental side of the trading. The profit is the last part, the risk control and money management parts are more important if the trader wanna to get more profit with minimized risks. Selling financial assets with margin trading is a dangerous game and it is called double edge sword for the mentioned reasons on this thread.

Renampun

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Quote from: Mahmoud70 on February 11, 2021, 05:55:25 PM

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?

*what you learn is only the theory of trading...
Trading is not an exact science that can only learn theory, it takes a strong mentality and also careful analysis to be able to make a profit. It has been discussed hundreds of times in this thread that theory must be mentally balanced so that you can make the right decision to sell or buy.

Ridwan Fauzi

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Activity: 1330

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Make sure if those strategies and indicator match with your trading fashion. That is the best part in a trading field, it will be useless if you learn and force yourself to like a strategy but in fact you don't like it then it will make lose your money.

Also, you need another factor beside it. Yeah, you have to learn about psychology trading. Remember in the trading field there are three factor that important, mind, money, methode. If you have these three factors you can enjoy what you want.

doomloop

hero member

Activity: 2268

Merit: 581

Quote from: Mahmoud70 on February 11, 2021, 05:55:25 PM

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

I think anybody can still learn these things and not be able to implement what they have learnt, so that means you still don’t have the skills. You have to do some practice if you believe that you have gotten full knowledge on how all these things works, because practice they say makes perfect. So, you have to keep doing it till you have gotten it 100% perfect.

Sometimes there are people who will learn these things but they will still need someone to put them through before they can have full understanding of what it’s all about. So if you try doing it and you seem not to be getting it perfect, you can still request for the help of an well experienced expert.

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: Mahmoud70 on February 11, 2021, 05:55:25 PM

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?

Better but not really that necessary to know all of those yet this will really be giving a headache if you do apply these indicators on every single chart you would tend to look for.
Also, dont stick with technicals too because there are instances where fundamentals would also play a big role into this market but if there were none then majority mostly
being using technicals which is helpful but in my case i do only make use of support and resistance line ,trend lines and RSI and with some mix of EMA.
This is already enough for me but you can still make use of these things if you wanted to as long it can really be effective into your trade then it doesnt really matter
on how many of it you will make use.

isaac_clarke22

sr. member

Activity: 1596

Merit: 264

Quote from: Mahmoud70 on February 11, 2021, 05:55:25 PM

~

Quite disappointing that some people here didn't read the OP's questions and just straight up reply after reading the title.

@OP
Those are a lot of technical analyses you learned. Now on to the next part, how will you actually use them in real-life situations in trading.
That's where your "learning" gets tested. It's like learning how to strum guitar and play different notes then you'll use those learnings to make music.

sana54210

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Merit: 1128

Quote from: AliMan on February 11, 2021, 06:21:25 PM

You need to develop your skills and analysis, once you become expert of different strategies in trading you won't fail in different situations. Learning stage isn't easy, patience and control of emotions is very important. Of course your self confidence always matter, everytime you deal with pressures and struggles in the midst of trading difficulties.

Yeah, I can't believe people think that just because they learned about TA they could become a good trader. This way you could potentially make small but sure tiny trades that would make you tiny profits here and there, or maybe even a bit bigger profits if you are ever lucky, but it is not going to be enough, that is not going to make you rich neither.

The reality is that if you end up trading into something that is profitable in the sense that you make 5-10% per trade and you think you can keep doing it, that will be rare and not constant, not sustainable, you can't make 5-10% profit per trade for many times a day for many days and years, if you were capable of doing that, you would have been world's richest person in a year even if you started with 100 dollars. So smarter decision would be to learn TA of course, but also try to see what the public opinion is and go in with courage to things you like as well.

Atek33

jr. member

Activity: 462

Merit: 1

Of course I want to tell you that the first thing you need to do is if you have a friend or someone who is trading, then of course I think you need to get some idea from them because it will give you a little more idea about your trading. Loss You must have an idea of how to train in a successful way without any loss because this is how we can train without a very important subject. I think you must work hard.

Maslate

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Quote from: Mahmoud70 on February 11, 2021, 05:55:25 PM

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?

You already have the tools to have a good trading output. What you are going to do now is to engage more in trading(experience), you need to know yourself if these tools are really effective or there is a need to remove some. Actually, I'm not using all these things as I was considering most on the candlestick, volume, and most of all, I rely on my instinct.

And also, you don't need to worry about committing mistakes coz this will help you a lot to improve and develop the part in which you are less effective.

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