Topic: What do you need to become a successful trader? - page 14. (Read 6343 times)
To become a successful trader you need to get a laptop with good internet connection and electric which is not eratic,you need to get basic training on how to trade and also to update yourself with knew tactics
I personally did trading but still not called as successful trading because i was suffering plenty of loss during my trading activities but those who deserve called as successful trading might be they who can avoid loss everytime trading and maybe to reach that achievement people should learn and became an expert from trading knowledge such as technical analysis or how to predict chart movement and the most important is experience and good mentally to facing downtrend is necessary too
You don't need to think of other people say because you don't know if that is true or not. The analysis that every trader learn will be different as we need to find what analysis that can help us to analyze the market. They can say analysis A will not work for them, but it's work for you, then they cannot say that is a bad analysis because you can use the analysis with good. What you need to do now is only learn as many others here suggest, find your own method to make a profit from trading. When you can do that, just stick to it and still trying to make more profit than before. So when you can do that many times, then I think you can become a successful trader.
I personally did trading but still not called as successful trading because i was suffering plenty of loss during my trading activities but those who deserve called as successful trading might be they who can avoid loss everytime trading and maybe to reach that achievement people should learn and became an expert from trading knowledge such as technical analysis or how to predict chart movement and the most important is experience and good mentally to facing downtrend is necessary too
I think psychology will affect a lot of your investment because the current market is not really good so surely many investors will have huge losses. I usually do not trade during this time period because the risk now is very high and it can completely put me under pressure to invest. I believe the current solution is to hold Fiat and wait for new growth in this market
You will always lose if you follow the strategy someone else I bet for it. Become a trader is not about learning what someone else did, you will only focus on their strategy and I think that is the bad thing. First thing that you can do is learn more the analyst either technical or fundamental and I suggest don't focus on youtube you need to read as well. If you just focus on the video you will always remember it and it will become a benchmark as your strategy. You have a chance to make your own strategy and you can aplicate it if you will trade so as when you got lose or even when you got profit you can evaluate it by yourself and as a source when you trade later.
To become a successful trader you need to believe that Techincal and fundamental analysis only play a 10% role and the other 90% is psychological analysis. To learn what is psychological analysis and how important it is, read out the best trading book "Trading in the Zone" by Mark Douglas, The early you read the better you learn.
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.
That's what I also did when I first started trading and the only motivation that I have is what I heard, its easy to make money in trading, buy low and sell high, but after loosing money, that's the time I have to take it seriously, I started to learn how to use graphs and follow mentors and see how they did 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.
Technical Analysis is bullshit to those who doesn't know how to use it or has not gained profits in using it or maybe, they know how to use they earned from it, but they simply hate using it because it will eat up their time analyzing candle sticks. 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 problem lately i watched some people saying that technical analysis is bullshit and I'm really confused
the people who say that are just terrible at employing TA. they tried trading, lost some money, and now they tell everyone it's a scam. that's not to say TA is perfect nor easy to practice either, though. it takes rigor and you need to have a talent for it. most people don't have what it takes.
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.
And which is the best market to trade for a beginner.
i recommend completing the free online course at babypips. anything TA-related applies to all markets, not just forex: https://www.babypips.com/learn/forex
there are no "beginner" markets. which markets work best for you depends on your trading style. i hate trading stocks personally---too many fundamentals to worry about and i hate how the market is closed most of the time. bitcoin is perfect for my style: it's volatile, classical TA works well on it, and it trades 24/7.
You can become a successful trader if you follow the right people in the industry. Learn about their methods, put them to practice to ascertain the one that will work best for you. Doing this consistently will make you a better trader.
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.
And which is the best market to trade for a beginner.
You want to trade using harmonic patterns without knowing the basics of TA? You're jumping on high waters with no warm up my friend.
The best market is the one with high liquidity like binance. The higher the liquidity the less the exchange is prone to flash crashes.
Being knowledgeable with TAs are highly recommended because this is your basic foundation in trading. Your experience and acquired skills through the years will aid you further in moving forward with trading. But you should not forget the basics. Though in crypto markets, TAs are not really applicable in some coins like the pump and dump ones, yet you need this to assess other markets.
The best market is the one with high liquidity like binance. The higher the liquidity the less the exchange is prone to flash crashes.
That's true, but even the more reputable exchanges have orderbooks consisting of a lot of spoof orders (orders that are in the books but aren't meant to be filled). In the stock market spoofing is illegal, but in crypto that rule doesn't seem to apply yet, which is why you shouldn't pay too much attention to orderbook depth to either consider the market bearish or bullish.
Last year Ethereum went through a flash crash from ~$100 to ~$13 on CoinbasePro, which is the most reputable and most liquid actual fiat exchange. It's something you can't avoid unfortunately (or fortunately for those who get their low orders filled). Some exchanges do reverse the trades, so even if you managed to buy in super low, you will probably not benefit from it.
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.
And which is the best market to trade for a beginner.
You want to trade using harmonic patterns without knowing the basics of TA? You're jumping on high waters with no warm up my friend.
The best market is the one with high liquidity like binance. The higher the liquidity the less the exchange is prone to flash crashes.
Every strategy that you learn is not a waste of time because they all have their own area where they fit into, and if you are able to learn all the available strategy, if strategy A does not work here, then strategy B will work there.
The most important thing right now that you really need for you to become that successful trader is for you to accumulate enough of knowledge about trading cryptocurrency because it is really not easy, and never you rush into trading without first ensuring that you have made enough practices first so that you didn't end of losing and not know what the cause of it is. As you have also mentioned too if you should go for those learning, I would say that you should go for it really. It would really pay you in the long run when you start to make the full trading.
The most important thing right now that you really need for you to become that successful trader is for you to accumulate enough of knowledge about trading cryptocurrency because it is really not easy, and never you rush into trading without first ensuring that you have made enough practices first so that you didn't end of losing and not know what the cause of it is. As you have also mentioned too if you should go for those learning, I would say that you should go for it really. It would really pay you in the long run when you start to make the full trading.
You need discipline, Reading and interest to learn. Spirit to bare the ups and downs.
Oh, kid. Look, you'll become a pro when you stop asking such questions. 
What you need to do at the beginning is read, learn, watch, study, explore, and trade using demo money. Start slowly. Learn both technical analysis and fundamental analysis to balance between them. Only charts or only news can't help you to trade like a pro. Combine them, add some luck, don't forget about intuition, and then, maybe, you will success. Overall, it's all about experience.
And here's one hint from me as a pro trader and businessman. Use automation. It helps greatly because you don't have to sit nights near the screen checking prices and placing orders. With modern platforms like Superorder, you just can create a strategy, run it, and relax. Feel free to change conditions or orders whenever you want depending on the current market situation. But you don't have to trade manually. That saves a lot of time and helps to study more creative things like strategy building and risk management.
Good luck!
What you need to do at the beginning is read, learn, watch, study, explore, and trade using demo money. Start slowly. Learn both technical analysis and fundamental analysis to balance between them. Only charts or only news can't help you to trade like a pro. Combine them, add some luck, don't forget about intuition, and then, maybe, you will success. Overall, it's all about experience.
And here's one hint from me as a pro trader and businessman. Use automation. It helps greatly because you don't have to sit nights near the screen checking prices and placing orders. With modern platforms like Superorder, you just can create a strategy, run it, and relax. Feel free to change conditions or orders whenever you want depending on the current market situation. But you don't have to trade manually. That saves a lot of time and helps to study more creative things like strategy building and risk management.
Good luck!
You don't have to adhere to the rule of "buy at a lower price and sell at a higher price to make a profit."
This is faithful to the most important things you should do:
- Stay away from listening to people who claim to be experts in analysis, especially those on YouTube and Telegram channels.
- Technical analysis of long-term predictions cannot be relied upon.
- Learn how to take advantage of the factors that lead to a higher price.
- Learn the factors that affect price, such as news, laws, analyzes and more.
This is faithful to the most important things you should do:
- Stay away from listening to people who claim to be experts in analysis, especially those on YouTube and Telegram channels.
- Technical analysis of long-term predictions cannot be relied upon.
- Learn how to take advantage of the factors that lead to a higher price.
- Learn the factors that affect price, such as news, laws, analyzes and more.
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.
Study, Study and Gain experience and utilize this experience for your learning and apply it on your own trading system.Theres no such thing on being a successful trade that haven't any losses yet loses are inevitable but somehow this risk can be lessen up if you do know on what you are doing.Its hard but not impossible that's the good thing of it.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.
Yes,you can make money for the rest of your life if you do able to get or manage yourself on such situation.How to achieve? This wont be built overnight and it might take years for you to get it on.What tools? Technicals aren't an assurance but somehow if you do expertise on this one there might be a chance but as we all know that these indicators aren't that precise that's why we have those news or fundamentals to rely or to add on anytime we do able to read it.Just discover and do apply these things along they way and youll realize
that you need up these things somehow.
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.
If you really going to be a full time trader for the rest of your life then its worth to learn all the strategies available to predict the prices but don't trust any of them too much since cryptos are highly volatile.You can make either lot of money or lose everything as well so keep your coins diversified and stay on the basics of trading while buying and selling the crypto currencies. 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.
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.
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.
I normally keep my technical charts simple and it works for me, I don't know what will work or not work for you. I would just learn the basic ones if I were you and maybe learn the how to use the higher tools later. You could search which tools works better... I'm sure there are good answers for this on youtube or Google
Although, there are many requirement to become successful in trading but simple ingredient is knowledge and able to work out a quality strategy, as there is just no way you will succeed otherwise. I am using a broker that gives me room to trade both Forex and Crypto. I would suggest others too for picking Trading Broker only which allows both since it only increases up your potential as far gaining good amount of money is concern.
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