what do i need to be a successful trader ? - page 6.

cabron

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Quote from: molsewid on June 06, 2021, 10:36:05 PM

Quote from: Ucy on June 04, 2021, 10:52:14 AM

A successful trader should consistently make money in whatever direction the market goes, whether up, down, bull or bear...there are lots of opportunities to earn money in either ways.

Rather than relying too much on indicators, just simply buy low and sell high for profits. If the market dips significantly you buy, buy again if it dips again... Every significant dip is a good opportunity to buy. You can also sell in similar manner for profits when price starts going up... This strategy works most of the time if you know what you are doing.

You funds could be reserved in stablecoin for gradually buy up the dips and selling high(if you need to). Do this multiple times and watch your stablecoin reserve grow.

It's important to only trader with what you can afford risk/lose, and probably use that for your learning experience. It's much easier to learn trading if you are not taking big risk(or gambling).

Being a successful trader doesn't happen in an overnight process. It takes time, it may cost you so much time of engagement in learning about trading even it is a basic trading strategy it may cost you time. Your basic knowledge about trading will be your guide while starting your journey in trading. Also it is important to know what token or coin is worth to trade on there so many kind of coin we have in crypto space today so choose which one is good for you. And lastly, patience, in trading it takes a lot of patience to be able to learn the process of trading step by step.

If you make money out of trading whichever the market goes, you are definitely a great trader by that time. This would be possible if you really know how the market will reach despite some news and price action. Not everyone can do it actually I have tried many times to do it with options and it failed me several times. It's actually easier to do it on the FOREX market than on crypto market but what I do is just buy low and sell high.

molsewid

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Quote from: Ucy on June 04, 2021, 10:52:14 AM

A successful trader should consistently make money in whatever direction the market goes, whether up, down, bull or bear...there are lots of opportunities to earn money in either ways.

Rather than relying too much on indicators, just simply buy low and sell high for profits. If the market dips significantly you buy, buy again if it dips again... Every significant dip is a good opportunity to buy. You can also sell in similar manner for profits when price starts going up... This strategy works most of the time if you know what you are doing.

You funds could be reserved in stablecoin for gradually buy up the dips and selling high(if you need to). Do this multiple times and watch your stablecoin reserve grow.

It's important to only trader with what you can afford risk/lose, and probably use that for your learning experience. It's much easier to learn trading if you are not taking big risk(or gambling).

Being a successful trader doesn't happen in an overnight process. It takes time, it may cost you so much time of engagement in learning about trading even it is a basic trading strategy it may cost you time. Your basic knowledge about trading will be your guide while starting your journey in trading. Also it is important to know what token or coin is worth to trade on there so many kind of coin we have in crypto space today so choose which one is good for you. And lastly, patience, in trading it takes a lot of patience to be able to learn the process of trading step by step.

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

should I add anything to this?

You learned a lot and now really can give everyone advices how to trade correctly. But before doing that try theoretical material on practice; otherwise it will be just a theory forever and you will never understand how everything works.

Well, learning is very easy to achieve, but the problem is how to apply such knowledge that you had learned.
For me, there is nothing much more important is to have experience in trading, the more experienced you had the more you will become successful in trading. We cant call ourselves an expert because we will have a possibility to have a loss by our own mistakes, perhaps emotions or wrong decision, but it does not mean it's time to give up. If you have a trading plan, it would be better if you will stick to it whatever happens.

Strategies + execution = result

Let us see which strategy and trading tools are working and which are not. Trading is just like making a trial and error and we need to use the most effective strategy and stick to it. We suffered more losses because we never change our strategy and we never correct our mistakes. If that so, no matter how long we've been in trading, we surely have to lose again ana again.

The OP need to work on a working strategy out of the numerous ones online basically they can found on YouTube or forexfactory, pick one work on it by applying some of those indicators practice the strategy via demo trading to correct all the mistakes made do during trading until consistent profits is guaranteed, then goes to live trading with $100 or less to have a feel of real trading, if successful then he can increase the trading portfolio.

Nrcewker

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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?

There is no word like “successful” trader.
Again it depends what do you mean by the word “successful”. Does this mean making huge amount of money?
If you think of this, then sad to say that no one is successful yet in trading.
Future is unpredictable so as the market?
So how can someone give perfect calls to be come successful in your words if he hasn’t seen the future.

Op you missing out the basics of trading that is understanding the market. When the market pumps or dumps.
Hope this gave you some extra knowledge on your queries.
Good luck with your trading.

pawanjain

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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?

Yes you should add one of the most important things to this list and that is practice and experience.
If you practice well you will get good experience and with that you will be well prepared for anything that comes in your way.
You will become more aware of how the market behaves and thus you will be able to use the indicators well and strategize accordingly.
Just learning about the indicators won't do you any good because eventually you will have to put it to practice and only that will give you the perfection.

Kong Hey Pakboy

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Quote from: Kez1817 on June 04, 2021, 12:04:59 PM

Quote from: Kong Hey Pakboy on June 04, 2021, 12:43:26 AM

A lot of money and a lot of knowledge and experience are some of the essentials to be successful in trading, without one, there's a possibility that it will take a long time before you can be successful as a trader but you don't have to fret over money, you can grow your capital overtime if you are really good.

Knowledge, patience and strategy is the essentials in trading. Knowledge alone is not enough to be a successful trader. You should apply your knowledge and through your experience, you can create your strategy, most importantly is don't be greedy.

You just copied my reply almost, strategy is under knowledge in my opinion. But I do agree that you shouldn't be greedy and just go and get what you can get and just be content.

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Quote from: ?? on ??

I suggest you also have to understand what fundamentals are. Many traders don't really rely on chart reading. They only use news or fundamentals on one coin or token, or news that is hot in the crypto world, like the clown's tweet (Elon).

That's why fundamentals are important and we don't just follow the hot news in the cryptocurrency world,
I don't think such news will last long and we must also be able to read market movements,
because that way we can know and not carelessly make decisions membuat

Hypnosis00

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The future of our trades comes from what we have done today. We all have a lot of trading tools that could help us to succeed but there is more thing that I think is a must to acquire and that is how to manage ourselves . To be honest, it is too easy to say and think about this but it finds to hard applying it in real life. And to know why? It is because we bond for a lot of challenges that include time management, risk management, and last one is emotions.

In general, we need to win all of these challenges before we succeed and yes, it could be tough. And we need to be more focused otherwise we just fail.

SacriFries11

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Quote from: andriarto on June 03, 2021, 11:05:35 PM

I am also still learning to become a successful trader. as far as I know, take some indicators that we know their nature, because the more indicators we will have more consideration, besides that we have to practice a lot in order to find our comfortable trading style.

Fundamental analysis is also very important not just purely technical analysis. It's different thing. You can also depend the graphs in previous week or year, they also some same pattern.
Applying risk management is one thing that is very valuable and make you successful in trading. Attitude towards every trades and don't be greedy, OP should also consider it.

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ComboLabs

if you want to be a successful trader it's very easy, just study and learn,
follow good and correct trading rules, don't be greedy and don't get emotional, make sure your mind is calm when trading, and have fun,
oh yes one thing you must you know, don't panic!, if you panic when you see the dump price you are not suitable as a trader

molsewid

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Quote from: Kong Hey Pakboy on June 04, 2021, 12:43:26 AM

A lot of money and a lot of knowledge and experience are some of the essentials to be successful in trading, without one, there's a possibility that it will take a long time before you can be successful as a trader but you don't have to fret over money, you can grow your capital overtime if you are really good.

Being able to call yourself as a successful trader you would probably went through a lot of process, continues learning and worst a huge loses that may drained your pocket but would fill your mind with knowledge about the lesson learned that you have gained from all of your failure experiences. Actually the question that if do you or do we need to be a successful trader I guess the answer is yes. If you're really wanted to be a trader or wanted to earn a profit from trading then aim to become a successful trader because earning a profit in trading is not simple, it is always risky and may require with so much knowledge that the only way to spare you from another loses which is inevitable but at least a minimal loses is bearable.

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Quote from: Ucy on June 04, 2021, 10:52:14 AM

A successful trader should consistently make money in whatever direction the market goes, whether up, down, bull or bear...there are lots of opportunities to earn money in either ways.

Rather than relying too much on indicators, just simply buy low and sell high for profits. If the market dips significantly you buy, buy again if it dips again... Every significant dip is a good opportunity to buy. You can also sell in similar manner for profits when price starts going up... This strategy works most of the time if you know what you are doing.

You funds could be reserved in stablecoin for gradually buy up the dips and selling high(if you need to). Do this multiple times and watch your stablecoin reserve grow.

It's important to only trader with what you can afford risk/lose, and probably use that for your learning experience. It's much easier to learn trading if you are not taking big risk(or gambling).

That's the hard part that I stopped trading for, making profit while market is going down. I rarely ever do a short deal, I actually never do it, I try to buy when it is low so I am still not profiting because I am just dropping my average and then profit quicker because my average is lower, but that's about it.

It is really not that easy to make a profit in crypto when things are in a bear market, the only times you can make a good profit for me is when the price is going up, and it was really a crazy period when the price went up, I made so much profit, if I sold at the top for everything I bought, I would have about 11 thousand dollars right now, instead I have 700 dollars saved up, that is the difference, do you know where I started? 200 dollars! This is the type of market we are in, it is really crazy, you can get insanely rich or insanely poor over night.

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Quote from: Kez1817 on June 04, 2021, 12:04:59 PM

Quote from: Kong Hey Pakboy on June 04, 2021, 12:43:26 AM

A lot of money and a lot of knowledge and experience are some of the essentials to be successful in trading, without one, there's a possibility that it will take a long time before you can be successful as a trader but you don't have to fret over money, you can grow your capital overtime if you are really good.

Knowledge, patience and strategy is the essentials in trading. Knowledge alone is not enough to be a successful trader. You should apply your knowledge and through your experience, you can create your strategy, most importantly is don't be greedy.

Those are basic stuff and when moving up with money investment emotions come into play. Controlling emotions is equally important like basic stuff.

Well i think doing basic is important, everyone needs a basic trading before entering into big trading works, doing basic trading can help you become more prudent on every decision that you male, trading involves money so we need not to considered it like a joke.

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Quote from: Kez1817 on June 04, 2021, 12:04:59 PM

Quote from: Kong Hey Pakboy on June 04, 2021, 12:43:26 AM

A lot of money and a lot of knowledge and experience are some of the essentials to be successful in trading, without one, there's a possibility that it will take a long time before you can be successful as a trader but you don't have to fret over money, you can grow your capital overtime if you are really good.

Knowledge, patience and strategy is the essentials in trading. Knowledge alone is not enough to be a successful trader. You should apply your knowledge and through your experience, you can create your strategy, most importantly is don't be greedy.

How successful is trading? do they continue to get new advantages in saying success? I do not think so.
For me, experience is necessary, but technical and analysis must also be important because in trading there are not several techniques, there are even so many that must be applied in trading.
Even a professional will definitely experience losses when the market is bad, therefore there is no need to be successful, the most important thing is that we can maintain capital and manage it well.

conected

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Quote from: Ucy on June 04, 2021, 10:52:14 AM

A successful trader should consistently make money in whatever direction the market goes, whether up, down, bull or bear...there are lots of opportunities to earn money in either ways.

Rather than relying too much on indicators, just simply buy low and sell high for profits. If the market dips significantly you buy, buy again if it dips again... Every significant dip is a good opportunity to buy. You can also sell in similar manner for profits when price starts going up... This strategy works most of the time if you know what you are doing.

You funds could be reserved in stablecoin for gradually buy up the dips and selling high(if you need to). Do this multiple times and watch your stablecoin reserve grow.

It's important to only trader with what you can afford risk/lose, and probably use that for your learning experience. It's much easier to learn trading if you are not taking big risk(or gambling).

- I see the definition of a successful trader is not making money continuously, it should be defined in the style that people can lose everything but they will definitely live, they will preserve a large amount of assets and look at the last scene of each cycle, after so many cycles, experiences have been created and they will survive, making money despite the woes, maybe not continuously but with many cycles, their money will still increase very steadily while losers will drop drastically. Indicators in my opinion won't be as successful as experience and a personal fighting style

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Quote from: Kong Hey Pakboy on June 04, 2021, 12:43:26 AM

A lot of money and a lot of knowledge and experience are some of the essentials to be successful in trading, without one, there's a possibility that it will take a long time before you can be successful as a trader but you don't have to fret over money, you can grow your capital overtime if you are really good.

Knowledge, patience and strategy is the essentials in trading. Knowledge alone is not enough to be a successful trader. You should apply your knowledge and through your experience, you can create your strategy, most importantly is don't be greedy.

Ucy

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A successful trader should consistently make money in whatever direction the market goes, whether up, down, bull or bear...there are lots of opportunities to earn money in either ways.

Rather than relying too much on indicators, just simply buy low and sell high for profits. If the market dips significantly you buy, buy again if it dips again... Every significant dip is a good opportunity to buy. You can also sell in similar manner for profits when price starts going up... This strategy works most of the time if you know what you are doing.

You funds could be reserved in stablecoin for gradually buy up the dips and selling high(if you need to). Do this multiple times and watch your stablecoin reserve grow.

It's important to only trader with what you can afford risk/lose, and probably use that for your learning experience. It's much easier to learn trading if you are not taking big risk(or gambling).

Kong Hey Pakboy

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A lot of money and a lot of knowledge and experience are some of the essentials to be successful in trading, without one, there's a possibility that it will take a long time before you can be successful as a trader but you don't have to fret over money, you can grow your capital overtime if you are really good.

Xinarae*

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Quote from: andriarto on June 03, 2021, 11:05:35 PM

I am also still learning to become a successful trader. as far as I know, take some indicators that we know their nature, because the more indicators we will have more consideration, besides that we have to practice a lot in order to find our comfortable trading style.

It is possible to become a good trader if you learn the techniques of practice and trading there are many traders who sell everything if they can't analyze the indicators properly if the price goes up later in the risk. It is not possible to trade in one day if you cannot practice properly it is better to stop for now.

andriarto

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I am also still learning to become a successful trader. as far as I know, take some indicators that we know their nature, because the more indicators we will have more consideration, besides that we have to practice a lot in order to find our comfortable trading style.

Topic: what do i need to be a successful trader ? - page 6. (Read 1676 times)