What do you need to become a successful trader? - page 10.

jhonjhon

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Quote from: Jsmbugu on August 31, 2019, 04:59:59 PM

Quote from: Gozie51 on August 31, 2019, 04:38:26 PM

So many traders don't depend on either technical or fundamental, they just watch the market, enter and take their profit.

Quote from: Jsmbugu on August 31, 2019, 04:27:04 PM

What i want to know is how can i become a successful trader and make money for the rest of my life. Should i learn technical analysis or harmonic patterns......

You have to practice a working pattern for you and rely on it.
Research for how to trade profitably.
Don't be greedy and trade with the believe that you going close the brokers shop. Angry

How they can make profits just by watching the chart for that's not trading but gambling. And anybody can do that but eventually you'll lose all your money.

I'm not being greedy or want to be rich. What i want is to learn the right way to become a trader. I don't wanna wast my time learning something fake as they saying that technical analysis is bullshit.

Its not just by mere looking at the chart but the market, meaning look at the markets movement you can search as well along the way to check what made the price go down and up. Technical analysis is what some people do and became successful but it may not be applicable to everyone. Its like a strategy of the other person may not work for you, thus, you have to understand the market on your own and come up with strategies that can help in getting profits.
In my own experience, I find it hard to trade forex or stocks compared to crypto and if you aren’t that expose yet to forex market better not jump right to it. It is important you study first the forex or stocks market and do a little transfer as to not waste ur time and money trading on something you aren’t sure about.

LUCKMCFLY

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Leading Crypto Sports Betting & Casino Platform

Quote from: Jsmbugu on August 31, 2019, 04:27:04 PM

Hello guys, I'm here because am so lost and confused about this whole thing of trading bitcoin or any other market as forex, stocks ...... first, when i started trading bitcoin it because i heard and saw many people talking about it and that you can make a lot of money. I mean yeah at first i made some profits by buying small amounts of bitcoin in Yobit then selling it again when the price goes up, but when day when the bitcoin went down i lost a lot of money.
I didn't quit trading but i moved to forex market. And as all they say technical analysis is the key to win in this market and there's many youtubers showing their money by trading forex anyway I'm not sure of it. The problem lately i watched some people saying that technical analysis is bullshit and I'm really confused

What i want to know is how can i become a successful trader and make money for the rest of my life. Should i learn technical analysis or harmonic patterns......
And which is the best market to trade for a beginner.

The main thing that I recommend is that you learn to understand the market, in my case when I started in the world of trading I lost a lot by following Youtubers advice, there was only one that said what it was, and the technique is that you should read and create your own criteria, so that you do not fall into the smoke sells, that is, read books, especially from famous speculators such as Wyckoff, Livermore, but that is not of technical analysis but that you learn under what criteria the speculators of the 1800s They traded, accordingly it will help you make more coherent decisions, you will know what stage of the market you are in, and you will understand many things that they never say.

serantepe

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Quote from: neoxsverige on September 14, 2019, 07:47:14 PM

It depends how much you want to earn. If you want to make money every day, than the best option is to invest in Cloudt9ken. Feel free to check it out https://cloudtoken.young-earners.com/cto-lp-english/?id=0527867568
A other one i love is Minerva wich pays 0.714% per day and compounding from 5€ up.

https://www.viralteambuildersystem.com/minerva/?ref=338041889

Me, I am happy with them.

I have been never heard about these guys, I think that’s not a trading platform .

trickyriky

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Quote from: bitcoinst on September 14, 2019, 08:41:40 AM

Experience experience and experience again. The market does not lend itself to logical forecasts. Even large traders say that they constantly manipulate volumes in the market,
therefore you need to understand how whales think and replay them, which, in my opinion, is almost impossible to do on your own. Find a teacher, this is the best and fastest way to gain knowledge and experience.

Before you start trading cryptocurrency, you should get the basic knowledge about the asset being traded. Look at the charts, the book of orders - this will help to understand the framework in which the coin is being traded and determine its volatility. A novice trader is better off choosing digital assets with medium volatility. In this case, the price movement is more or less predictable, and the chances of losing an investment are minimal.

neoxsverige

newbie

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It depends how much you want to earn. If you want to make money every day, than the best option is to invest in Cloudt9ken. Feel free to check it out https://cloudtoken.young-earners.com/cto-lp-english/?id=0527867568
A other one i love is Minerva wich pays 0.714% per day and compounding from 5€ up.

https://www.viralteambuildersystem.com/minerva/?ref=338041889

Me, I am happy with them.

PuertoLibre

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Activity: 1890

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Quote from: serantepe on September 14, 2019, 03:59:37 PM

Quote from: mersal on September 12, 2019, 09:41:48 AM

Quote from: toantrinh on September 12, 2019, 02:41:45 AM

It has a lot of factors, but as my experience reducing the trading fees is important factor to become a successful trader!

Not that much! Because on the exchanges you might pay 0.1% to 0.5% which is not too high when comparing to the how much profits we can make with cryptos in short time.

Maybe he is talking about arbitrage trading ? Becouse in regular trading I don’t see the reason to be worried about it.

At Livecoin the fees are around 0.18% - 0.02% depending on the trade size, turnover while at the Bitstamp it is always 0.5% for all traders(AFAIK). It makes sense to make an arbitrage trades at the Livecoin. A successful trader doesn't get stuck with the small costs of the trading strategy, they focus on the results of the proven track record.

For arbitrage opportunities, there are a lot of small market cap coins which can be traded between the exchanges that have a different bid/ask prices. Trading fees are not important unless the profitability of the single transaction is lower than 1%. If the last case is actual, instead of wasting time for small profit I would prefer to buy and hold for the higher profitability depending on the personal experience of the trader.

serantepe

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Quote from: mersal on September 12, 2019, 09:41:48 AM

Quote from: toantrinh on September 12, 2019, 02:41:45 AM

It has a lot of factors, but as my experience reducing the trading fees is important factor to become a successful trader!

Not that much! Because on the exchanges you might pay 0.1% to 0.5% which is not too high when comparing to the how much profits we can make with cryptos in short time.

Maybe he is talking about arbitrage trading ? Becouse in regular trading I don’t see the reason to be worried about it.

tungaqhd

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Quote from: bitcoinst on September 14, 2019, 08:41:40 AM

Experience experience and experience again. The market does not lend itself to logical forecasts. Even large traders say that they constantly manipulate volumes in the market,
therefore you need to understand how whales think and replay them, which, in my opinion, is almost impossible to do on your own. Find a teacher, this is the best and fastest way to gain knowledge and experience.

I think we should not rush to find a teacher, before thinking about it, we should re-evaluate our selves, re-evaluate the experiences and skills that we have accumulated from the market, whether we can look at this from there and grow higher, finding the right trading path for us or not. If we really got stuck and couldn't develop more, finding a teacher to define and rebuild our path was justified, more precisely, what we want from them is more in-depth knowledge, helping us to recognize the mistake we are falling into

bitcoinst

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SmartFi - EARN, LEND & TRADE

Experience experience and experience again. The market does not lend itself to logical forecasts. Even large traders say that they constantly manipulate volumes in the market,
therefore you need to understand how whales think and replay them, which, in my opinion, is almost impossible to do on your own. Find a teacher, this is the best and fastest way to gain knowledge and experience.

1BTC EQUALS 1CAR

full member

Activity: 602

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Quote from: Jsmbugu on August 31, 2019, 04:27:04 PM

Hello guys, I'm here because am so lost and confused about this whole thing of trading bitcoin or any other market as forex, stocks ...... first, when i started trading bitcoin it because i heard and saw many people talking about it and that you can make a lot of money. I mean yeah at first i made some profits by buying small amounts of bitcoin in Yobit then selling it again when the price goes up, but when day when the bitcoin went down i lost a lot of money.
I didn't quit trading but i moved to forex market. And as all they say technical analysis is the key to win in this market and there's many youtubers showing their money by trading forex anyway I'm not sure of it. The problem lately i watched some people saying that technical analysis is bullshit and I'm really confused

What i want to know is how can i become a successful trader and make money for the rest of my life. Should i learn technical analysis or harmonic patterns......
And which is the best market to trade for a beginner.

Those youtubers who showed a lot of money are just doing it for views and that is their typical clickbait like showing 6-figures and how they did it in a short span of time. If you think about it, they would not do youtube and will only concentrate on trading if they really make that much amount of profit so in short, they are all fake gurus.

To become a successful trader, you need to have experience trading 1-2 years and you will know what your mistake is and how to react and control your emotions. You are not going to become a successful sooner after that but I will guarantee you that you will start gaining more than losing.

maxreish

sr. member

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Switching from crypto trading to forex trading when in fact, you are not yet confident from the former one is not a good step, bro. Forex trading is more risky and more difficult. I mean, if you are already quite confident like already gaining profits daily from it with your own Technical Analysis, then there is no problem switching to forex trading.

On the other hand, if it doesn't healthy anymore. Why don't you take a rest for a while. Gain more knowledge, identify what problems in the past trading, gain more confidence and trust your own TA. Then, if you are ready again to take a risk and can manage yourself, continue trading.

GreatArkansas

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Quote from: serantepe on September 12, 2019, 08:58:11 AM

Quote from: GreatArkansas on September 12, 2019, 01:40:04 AM

For OP. This is my advice to you as trader, I know that feeling, I also experienced that. Always use that feelings for your future, take those as lessons.
Trading is really risky, crypto or non-crypto. You just need to know that in cryptocurrency, there you can see so much volatility on the market.

Techniques? Guides?
You should try the basics first, you will stick first for some tool you are using, if you lost some of trades because you use this method, then it's okay. Try it again, because there are no 100% in trading.

Lastly, in trading, you should think the long term, you can't be rich in just a week in trading. Grow your trading account healthy, because with that, you will end up successful trader. Risk management also, try to study about that, because some of traders now are lack on risk management, they don't know how to manage their trading funds.

How many times you need to lose your deposit before you can make some profit? Is there any advice?

It depends also how much did you deposit for starting balance, as for me, it is around 50$ before, not more than. I admit, I lost some of my trades before on my first deposit, but as time goes by, I learned different things and able to get profits with that very small capital, and I add some money to my starting capital and that's all.
Don't expect 100% win on trading, you can lose sometimes.

Crypto_Emirates

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We all know that we need some place , some info from where to learn - and best option is to learn from the best traders.

Check www.cryptocartel.co, they offer free trial to check all TOP trader info/TA/Signals etc.

Its the best chance to compare your own signals, ideas with guys on top - plus we all love insider infos.

ayoubouni95

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CurioInvest [IEO Live]

You're in for a treat, I must say. All kinds of motivation has been said as a starting point in the involvement in the cryptosphere. To earn is just one of them. You may or may not succeed in trading cryptocurrencies but the industry in general would be grateful just the same for your involvement. Learn to appreciate more about what the Bitcoin revolution is all about and earning from crypto-trading will just come as a bonus from truly being a part of the breakthrough Satoshi started!

rezakurnia66

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If I think you do not buy a lot of coins, but focus on one or two coins. So when you analyze the coin, you will easily learn it, but if you learn a lot of coins, I think it will hurt you.

But everyone, of course, will have different abilities. Trading requires patience and is not greedy, while your emotions must be controlled. Major exchanges for trading are Binance, Hotbit, and other major exchanges.

mersal

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Quote from: toantrinh on September 12, 2019, 02:41:45 AM

It has a lot of factors, but as my experience reducing the trading fees is important factor to become a successful trader!

Not that much! Because on the exchanges you might pay 0.1% to 0.5% which is not too high when comparing to the how much profits we can make with cryptos in short time.

barbara44

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Quote from: South Park on September 11, 2019, 12:52:05 PM

Quote from: serantepe on September 10, 2019, 03:48:43 PM

Quote from: South Park on September 09, 2019, 11:23:02 AM

It is interesting that you bring this up, it is widely know that many of the books which contain trading systems are created by people that do not trade and that earn their money by selling books about how to trade, if you took the time to backtest their systems you will realize that they lose money on the long term, but those people know that people will not take the time to verify who they are or to tests their systems so they can get away with their scam and no one exposes them for what they are.

And what is wrong in teaching someone from your friends your own profitable trading strategy?

You did not read my response, what I am saying is that many of the books out there about trading are sharing strategies about how to beat the market but those strategies do not really work and are not profitable, now while at first glance it may seem as if there is nothing wrong with teaching your profitable strategy to others, if you have one to begin with, the problem is that most people cannot remain silent about it and eventually more people will use your strategy, and as more people use the same strategy to earn money the less effective it becomes.

I think that it would get to a point in life where you didn’t even need to Pay attention to people's strategies, because I believe that as you study deeply on trading, one would realize that strategies come to one naturally, I usually tell most newbies that wants to trade that they should forget about strategy first, those who develop strategy didn’t learn it because you can’t learn strategy, you only use you experience to come up with strategies which means without experience, you cannot have strategy and the only way experience can also come into play is when one has a very sound knowledge about cryptocurrency.

I like to expose myself more to understanding of trading and the more that I understand some deeper things about trading in crypto, the more strategy comes to me.

serantepe

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Quote from: GreatArkansas on September 12, 2019, 01:40:04 AM

For OP. This is my advice to you as trader, I know that feeling, I also experienced that. Always use that feelings for your future, take those as lessons.
Trading is really risky, crypto or non-crypto. You just need to know that in cryptocurrency, there you can see so much volatility on the market.

Techniques? Guides?
You should try the basics first, you will stick first for some tool you are using, if you lost some of trades because you use this method, then it's okay. Try it again, because there are no 100% in trading.

Lastly, in trading, you should think the long term, you can't be rich in just a week in trading. Grow your trading account healthy, because with that, you will end up successful trader. Risk management also, try to study about that, because some of traders now are lack on risk management, they don't know how to manage their trading funds.

How many times you need to lose your deposit before you can make some profit? Is there any advice?

toantrinh

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It has a lot of factors, but as my experience reducing the trading fees is important factor to become a successful trader!

GreatArkansas

legendary

Activity: 2506

Merit: 1394

For OP. This is my advice to you as trader, I know that feeling, I also experienced that. Always use that feelings for your future, take those as lessons.
Trading is really risky, crypto or non-crypto. You just need to know that in cryptocurrency, there you can see so much volatility on the market.

Techniques? Guides?
You should try the basics first, you will stick first for some tool you are using, if you lost some of trades because you use this method, then it's okay. Try it again, because there are no 100% in trading.

Lastly, in trading, you should think the long term, you can't be rich in just a week in trading. Grow your trading account healthy, because with that, you will end up successful trader. Risk management also, try to study about that, because some of traders now are lack on risk management, they don't know how to manage their trading funds.

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