Before they became pro, all the seasoned trader in both forex and crypto failed and lost great amounts of money. And being a pro doesn't mean that all of your business is going to be good. Just be careful and when you fail, don't be dishearted. So hold all your mistakes as a good learning experience so you don't make the same mistake in the future. Never be selfish, and when trading, control your emotions.
Topic: What do you need to become a successful trader? - page 2. (Read 6340 times)
I'll say is quick: Try and never give up!
That's the key
Also read my post here: https://bitcointalksearch.org/topic/m.53633301
That's the key
Also read my post here: https://bitcointalksearch.org/topic/m.53633301
You need to be disciplined in your trades rather than making emotional decisions. Also, you should have a plan for whichever direction the market goes.
This is by far one of the most important things, most people do not really make rational decisions when it comes to the markets, they take emotional decisions despite the fact that some of them have a system to trade the markets that is telling them to do the opposite.And another important point that you touch it the most people don't really have a plan about what to do when the market does not do what they want, it is as if they are only prepared to take profits in each trade as if they expect that they are going to win every single trade and that is not possible.
Agreed that knowing the patterns of the market is very important. In fact, practicing on investing or trading can help you improve on trading skills. When you start by practicing on smaller currencies or prototypes, you can learn and observe how trading works. doing your own market/trends research is also very important as the market can always be changing.
Once you are experienced with how things work, you have already mastered the skill of observing market patterns, you can start investing in bigger currencies. This way, you wouldn't have to worry about big losses!
You can also check out this link:https://www.digifinex.com/en-ww/listing/apply
to find out how you can start small through a community with your friends.
Hope this helps.
cheers
Once you are experienced with how things work, you have already mastered the skill of observing market patterns, you can start investing in bigger currencies. This way, you wouldn't have to worry about big losses!
You can also check out this link:https://www.digifinex.com/en-ww/listing/apply
to find out how you can start small through a community with your friends.
Hope this helps.
cheers
legendary
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eXch.cx - Automatic crypto Swap Exchange.
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.
Forex and cryptocurrency are two different market although forex is more profitable considering it's more predictable and less volatile than cryptocurrency market. The skills needed in both market differs too, while as forex depends on a more technical approach, cryptocurrency can still be profitable without relying on technical analysis.
I'll suggest you learn both trading technique, they'll come in handle in different market condition, a successful trader in my opinion is a trader that have master the craft of trading and failure is hardly experience during his/her professional time of trading. A successful tradet has to be willing to learn from their previous mistake to improve on themselves.
To be a successful trader doesn't only depends on profiting from your traders since every trader can be profitable but it depends on how you have developed yourself over the years, master a strategy that you can deploy anything and it works perfectly for you, been able to adjust to any market condition and still profit etc.
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.
Prioritizing greed to trigger harder work is a mistake if you do not have a wise mindset and good self control, because when your emotions have been controlled by greed that you prioritize then it will only end in a very regrettable suffering.
You need to be disciplined in your trades rather than making emotional decisions. Also, you should have a plan for whichever direction the market goes.
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.
Prioritizing greed to trigger harder work is a mistake if you do not have a wise mindset and good self control, because when your emotions have been controlled by greed that you prioritize then it will only end in a very regrettable suffering. Before they became pro, all the seasoned trader in both forex and crypto failed and lost great amounts of money. And being a pro doesn't mean that all of your business is going to be good. Just be careful and when you fail, don't be dishearted. So hold all your mistakes as a good learning experience so you don't make the same mistake in the future. Never be selfish, and when trading, control your emotions.
When it comes to the market failure is almost inevitable, there is a significant amount of anecdotical evidence that suggests that more than 90% of the new traders lose all their money during the first months or the first year of their careers, so the most important skill that you need to learn at the beginning is to protect your capital.Even if a year passes and you have obtained no profits and you are losing just something like 10% or 20% of your capital then you are in great shape and most likely you will became one of the professional traders in the markets, now the only thing that you need to find is a strategy that you can follow that is profitable.
A lot of patience and passion can make as successful trader, being a successful trader takes years and not months or days. We cannot learn trading in a short period of time so it is a process. In order for us to become successful trader, we should allocate most of our time in researching in order to improve our skills and increase the current knowledge that we have.
This is the first thing that a traders must need, patience is very much needed, based on my experienced, I faced many losses due to my lack of patient during my early trades, I always keep on being panic, that is why most of my coin are being sold to lower price than usual, sometimes I sell my coins, lower than its ico/ieo price, but I learned my mistake and make it as a lesson for my next trades.
if a trader often fails with his own analysis, it is necessary to look at references from other traders.
Traders need the perspective of others routinely to strengthen technical analysis. Even if you have previously fully understood the basics of trading, it is still possible not to recognize some of the trends that support the actual price position without you knowing, I'm not saying this is a prerequisite for success, but is an effective solution to cover the weaknesses of personal analysis.
Traders need the perspective of others routinely to strengthen technical analysis. Even if you have previously fully understood the basics of trading, it is still possible not to recognize some of the trends that support the actual price position without you knowing, I'm not saying this is a prerequisite for success, but is an effective solution to cover the weaknesses of personal analysis.
A lot of patience and passion can make as successful trader, being a successful trader takes years and not months or days. We cannot learn trading in a short period of time so it is a process. In order for us to become successful trader, we should allocate most of our time in researching in order to improve our skills and increase the current knowledge that we have.
This is the first thing that a traders must need, patience is very much needed, based on my experienced, I faced many losses due to my lack of patient during my early trades, I always keep on being panic, that is why most of my coin are being sold to lower price than usual, sometimes I sell my coins, lower than its ico/ieo price, but I learned my mistake and make it as a lesson for my next trades. 
Before they became pro, all the seasoned trader in both forex and crypto failed and lost great amounts of money. And being a pro doesn't mean that all of your business is going to be good. Just be careful and when you fail, don't be dishearted. So hold all your mistakes as a good learning experience so you don't make the same mistake in the future. Never be selfish, and when trading, control your emotions.
Not everyone is born a genius and to become an expert in this market, they certainly have encountered a lot of failures and will certainly have their own suffering. I have stayed in this market for a long time but until now I am a normal investor and often lose money when the bear market comes back. Of course, my mentality greatly affected my current profits.Personally, I never leave this market because this is the only place I can make a profit and there are a lot of trading tools available to me.
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.
For you to become a successful trader, you don't need to know anything but rather learn what are only essentials and the rest is just patience, determination, any discipline. Going back to your question, learning technial analysis is considered as essetial in tradingAnd which is the best market to trade for a beginner.
It's a must for you to understans the chart patterns. For harmonic patterns, it's your choice if you'll study it but I can guarantee that it's not a must to become successful trader. The best markets to trade for the beginner are BTC and Tether.
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.
For you to become a successful trader, you don't need to know anything but rather learn what are only essentials and the rest is just patience, determination, any discipline. Going back to your question, learning technial analysis is considered as essetial in tradingAnd which is the best market to trade for a beginner.
It's a must for you to understans the chart patterns. For harmonic patterns, it's your choice if you'll study it but I can guarantee that it's not a must to become successful trader. The best markets to trade for the beginner are BTC and Tether.
Being successful trader educate yourself and learn both Technical analysis and the psychological behavior like successful trader how they face the complex situations.If Platform is legit then no matter where are you trading just your skills and decision power will be counted,Learn to control the emotion in both winning and losing position also an art of a successful trader.
Choosing best coins mostly will take you profit at the end,so never trade on coin with no volume and market.
Choosing best coins mostly will take you profit at the end,so never trade on coin with no volume and market.
Technical analysis becomes a major role in trading if we want to become successful traders. in addition, having patience and emotional control must always be applied in trading, so we can take action when the right time to make a sale or hold for a long time until the profit target that we set in the trade that we do can be achieved
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.
For you to become a successful trader, you don't need to know anything but rather learn what are only essentials and the rest is just patience, determination, any discipline. Going back to your question, learning technial analysis is considered as essetial in tradingAnd which is the best market to trade for a beginner.
It's a must for you to understans the chart patterns. For harmonic patterns, it's your choice if you'll study it but I can guarantee that it's not a must to become successful trader. The best markets to trade for the beginner are BTC and Tether.
A lot of patience and passion can make as successful trader, being a successful trader takes years and not months or days. We cannot learn trading in a short period of time so it is a process. In order for us to become successful trader, we should allocate most of our time in researching in order to improve our skills and increase the current knowledge that we have.
There is something really important in your post, becoming good at anything not only at trading is a long process, most people want to watch a few youtube videos and become expert traders in a quick fashion and that is not the way that happens.Becoming an expert trader takes years, and you need to read several books and articles on the Internet and that is not enough then you need to test your knowledge about the markets and see if your theories about it works and then once you find something that works you need to try to keep improving upon that knowledge and that is not easy.
The problem lately i watched some people saying that technical analysis is bullshit and I'm really confused
Who said that? Technical analysis is important in trading, without technical analysis how can you get predictions to enter the spot market?From the start you trade just by looking at the market value, you only rely on luck then and it will not help you improve your trading skills. You need analysis from both fundamental and technical, you can use your intuition if you have been trading for a long time, there is a lot you need to know about market movements and who control it (whales).
A lot of patience and passion can make as successful trader, being a successful trader takes years and not months or days. We cannot learn trading in a short period of time so it is a process. In order for us to become successful trader, we should allocate most of our time in researching in order to improve our skills and increase the current knowledge that we have.
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