Topic: What do you need to become a successful trader? (Read 6340 times)

Yes! This  is the most important thing to do, we must do some research before everything else. So that we will regret investing any coin, when it dumps or when it fluctuate and never comeback, these is the best thing to do , since you are a beginner and not want to lose so much, when you have experienced enough, you may now take risk and buy anything you want to invest.


Yep, there are many ways to learn trading, and it will help us to know more and add more ideas in our trading, OP just need to search for that in youtube or even in google. It is very easy, there are free ebooks as well, just pm me if you want some.

Well, youtube is really an information channel that contains a lot of materials so that we can explore and understand how the market works, from there we will have more suitable and more profitable strategies, instead of not having a clear trend in the first place but learning at youtube is only a small part of this game, knowledge is only average and over time, we will not be able to live in this market, need new knowledge. And to have new and more practical knowledge, help us be more successful, traders need to plunge into market research more, looking for someone good enough to explain everything to you

There are many videos of that kind on YouTube. I do not wish to recommend any particular here, bacause of someone may see my choice as a scam's project promotion and ruine my activity here. I do not want that to happen, so everyone who really interested in visual learning - search yourself. It's easy 

In any case, the ambitions of each trader should not diverge from the real possibilities, because otherwise, there can be no talk of any success.  The fact is that the most important rule for a trader, especially for a beginner, is to always set real goals and adhere to a specific plan before starting a trade.  In this case, not one iota Do not depart from the planned, because it already increases the risk of losing cryptocurrency funds.  In addition, each cryptocurrency user always wanted to make a lot of money, especially after various forecasts or stories about the possibilities of becoming a millionaire, but in this situation you never need to be greedy.

To all of this I will add being realistic about what you can achieve with your trading activities, many people want to earn 10x or more in less than a year and while we have heard stories of people that did exactly that not everyone can earn so much money out of their investments, you need to set up for yourself a set of realistic goals and until you do that your success will never come.

A more realistic goal for this market will be to make between 15% to 25% per year, which is really high especially if you are trading with an important amount of capital.

Depend on the trend of the market because if you invest a large amount of money you will see price of the coin every hour so it is very difficult to not look at the chart. I think trading requires knowing how to analyze and learn new things because not everyone is an expert. In fact, you only start $5 and that is a small amount of money not worth your attention but if you invest $5,000 or $50,000, everything will be very different.

Any investment has its own risks and it is difficult to predict because crypto market is very easy manipulation. Of course, that's just my thought on this issue and depends a lot on your decision.

This is something that almost never gets mentioned but it is true, most people are interested in the positive outcomes that they can get out of trading and I cannot blame them, after all if you are able to master trading or investing you are going to have one of the most valuable and profitable skills in the entire world so I get why people get interested for financial reasons in becoming a trader.

But most of them are not interested in the process of becoming a good trader, they do not want to study the markets, they do not want to work hard to devise a strategy that beats the markets, they do not want to watch the markets and they do not want to talk or to think about the markets and such a person is never going to become a successful trader.

If you never achieve at the first attempt, try harder next time. A very famous quotation try, try again is applicable everywhere in your life. When you enter in your practical life, with the passing time the nature of difficulties also get stronger. To overcome the strong risk you have to use a strong strategy. Never give up by losing confidence, prove the world that you have capability to perform best duties.

Commitment is a prerequisite if you want to be a successful trader in the long run. But if we look at the figures it is very difficult to mark those examples that could actually be termed as passionate traders. Trading is not easy at all. I mostly find people trying to earn money through it. They are not interested to get into it with heart. In simple words no one finds it fascinating enough to trade.

That is not right mate, what you said is contradicting. Patience is required and I agree to that but I do not agree when you said that technical analysis is not important. You said buy with the dip but we cannot know if the dip will dip more without using technical analysis. Buying dip is a counter trend strategy where there is high risks but there are also high rewards. For newbies it is not preferable to use due to their lack of experiences.

If you have patience, you really don't even have to learn any technical analysis. If you buy in whenever and sell at the next all time high then buy in during a big dip again, you'll make money. This is kind of what I have been doing with my free $5 from Robinhood as an experiment to see how high I can get it. I've already almost 4x the balance on there and we haven't even been in a good bull run since I've started. Haven't looked at a chart once for it.

I used to lose a lot in the past but instead of being depressed, I always try for the next trading because no one was born an expert. For traders, knowledge is the most important because this is the deciding factor to your profit. In addition, the mentality must always be stable because if the red market suddenly appears, you will have to know what to do next.

Of course, relying on that alone is not enough and you need to learn more because the market is always changing big.

To have the goal i never give up might be the part of success but from my own experience.I can say that there is no exact receipe. Everyone of us i different, has different background, experiences and knowledge and different trading methods and goals.
But I can say never stop learning, be patient, don't be greedy and don't let emotions get control over you.

Yeah, this is out an external wish and eternal need that makes us good us good traders. We should work to gain knowledge as knowledge is important in trading. We should keep patience in making trade and not be so greedy about making a quick profit because when you become greedy you will make mistakes and mistakes leads to losing in trading so be careful always.

Your opinion is right!
Whatever we imposed strategy and techniques, if we lose hope then we are loser. I believe that we should try our best even it is failed. Atleast, we have experienced and we can realize our flaws. Remember, mistakes are our bridge to reach our goal. We just need to focus, learn from mistakes and never stop on trying.

Commitment and passion is what we need, most of the traders want to become successful trader but they do not have commitment and passion. Trading is not something that we can learn in a short period of time, trading is a process and we should expect that it will really take a time for us to become a profitable trader. Passion is something that we should have, it make us to seek more information to enhance our skills and to improve what we are currently know. Commitment is also a matter because some people are just seeing trading as boring but for me, analyzing is what I really love. If we have better mindset, it can boost our psychology in order to make better decision.

I'm a trader in both cryptocurrency and stock market, my goal is different from others because it is about consistently earning within a year and not to become a millionaire. There are people who want to become trader because they want to become a millionaire, that kind of mindset are prone into losses. I also treat my failure as opportunity to grow. People are sseing failure as the end of their career but the thing is failure can make us better trader. There will be no improvement if we fail.

We cannot become succesful trader if we are not doing what we love, I'm passionately in terms of trading and it boost my economic engine and that is why I love trading. We can become better in a task if we love what we are doing.

A little covetousness and confidence. If you want something more, it's a covetousness. Greed will drive you to work hard to achieve your goal and to work smartly. But it's too bad for us to have a bit greed. Confidence is something we should have as well because it helps us as a strong person where we can conduct our company without questions and second thoughts. Confidence isn't something we can quickly achieve, it's growing, and good communication and training can help us get it.

Every trader might have experienced losses out of their regular trading practice. With every loss experienced, one needs to learn something out of it. One to be successful in trading user needs to have patience and better learning about trading basics. More the learning easier will be the prediction about the market movements. When you make perfect prediction about the market profiting happens automatically.

exactly, almost all of the successful traders now or professional traders have experience a loss and almost thibk of quiting from my friends story but they didn't give up and learn and learn again. I believe that if you really want to be a successful trader you should picture it out make it a goal and try and learn every steps.