WHAT DOES A TRADER NEED? - page 3. | Bitcointalksearch.org

Karmakid

sr. member

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Quote from: huige007 on November 22, 2019, 11:51:22 AM

Quote from: sandra_1 on November 21, 2019, 08:35:23 AM

Broad topic Cheesy

Trader needs patience and knowledge about cryptocurrencies, that's the most important.
Another thing is to have right exchange, safety first. I can recommend Kraken or CoinDeal.
Trader need to remember not to invest more than he can afford to lose!

In my opinion, most important skill of trader which will actually help him in becoming successful far earlier than his fellow, is knowledge. If he understand his asset, digital market and this profession very well, nothing can stop him from becoming rich. After acquiring this weapon, he won't have to work on his patience and tolerance. They will develop naturally in him. he should never ever give up. In exchanges, Binance is also a good option.

I agree. Knowledge is power. So if you have a lot of knowledge in your mind then you can outperform everybody in the game. Knowledge is the basic and most important thing that you need to have because you will be able to identify the things that you need to do in order to get into the place that you wanted to go. You can achieve knowledge by continuously studying through articles, videos online, courses and books.

Swordsoffreedom

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Leading Crypto Sports Betting & Casino Platform

Quote from: bettercrypto on November 21, 2019, 10:47:56 AM

Quote from: DimitrisLodirogas on November 01, 2019, 06:04:15 PM

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

Reading news always is not enough for a goid trades. Most of the time, we need to consider the chart and volume. Traders need to have knowledge in TA and FA profoundly. Because depending on news and signals are just opinion of others and we don't know how they find it. I better to depend on myself than to them.

In Forex trading like gold/USD or currency trading like EUR/USD, understanding news is very important in my experience. Things like unemployment forecasts or economic growth predictions can reverse a trend and it happens often times. So with just technical analysis you could expect one direction, but some news or announcement, or Trump's tweet for example, can neglect entire chart pattern.
In crypto, TA is usually enough, except if some major news are released.

huige007

sr. member

Activity: 887

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Quote from: sandra_1 on November 21, 2019, 08:35:23 AM

Broad topic Cheesy

Trader needs patience and knowledge about cryptocurrencies, that's the most important.
Another thing is to have right exchange, safety first. I can recommend Kraken or CoinDeal.
Trader need to remember not to invest more than he can afford to lose!

In my opinion, most important skill of trader which will actually help him in becoming successful far earlier than his fellow, is knowledge. If he understand his asset, digital market and this profession very well, nothing can stop him from becoming rich. After acquiring this weapon, he won't have to work on his patience and tolerance. They will develop naturally in him. he should never ever give up. In exchanges, Binance is also a good option.

bettercrypto

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Activity: 1372

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★Bitvest.io★ Play Plinko or Invest!

Quote from: DimitrisLodirogas on November 01, 2019, 06:04:15 PM

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

Reading news always is not enough for a goid trades. Most of the time, we need to consider the chart and volume. Traders need to have knowledge in TA and FA profoundly. Because depending on news and signals are just opinion of others and we don't know how they find it. I better to depend on myself than to them.

sandra_1

newbie

Activity: 59

Merit: 0

Broad topic Cheesy

Trader needs patience and knowledge about cryptocurrencies, that's the most important.
Another thing is to have right exchange, safety first. I can recommend Kraken or CoinDeal.
Trader need to remember not to invest more than he can afford to lose!

Malamok101

full member

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Proof-of-Stake Blockchain Network

Quote from: DimitrisLodirogas on November 01, 2019, 06:04:15 PM

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

As a crypto trader needs to become focus and more than experience to learn about those, needs to manage on their trades. It will be a good way to make money on trading.

DimitrisLodirogas

jr. member

Activity: 147

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Quote from: Magkirap on November 19, 2019, 09:01:08 PM

Quote from: Serco on November 02, 2019, 06:43:18 AM

Quote from: rijaljun on November 02, 2019, 05:22:01 AM

Quote from: DimitrisLodirogas on November 01, 2019, 06:04:15 PM

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

A lot!

But one most important thing for trader is stability of emotion.

No matter how great you are at analyzing with different tools, no matter how long you do a research, mo matter how much time you invested to get experiences, if your emotion is not stable then you might take a wrong decision.

emotion controlling and lot of practice will help us to be good trader.most of traders didnt prepare their self with good skill before join in market.tools just a tool that could not used if trader doesnt understand how this indicator work.if ever heard false signal, it caused by trader that confused with tools utility. I am agree capability in controlling emotion will make us survive in our trading carreer.

Emotions are going to be a poison for us if we will not control it properly because mostly we will not notice it until we have lost some of our money, controlling emotions will lead us to a better decision in our trades which can help us lessen our loss and indeed no matter how good you are at technical analyzation if your emotions are not stable then you are at risk of losing.

This 'emotion' thing is getting concerning for me since everybody talks about it. I'm not new to trading but can imagine how it feels when starting to lose big money...will see

Cherylstar86

sr. member

Activity: 1484

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Quote from: Magkirap on November 19, 2019, 09:01:08 PM

Quote from: Serco on November 02, 2019, 06:43:18 AM

Quote from: rijaljun on November 02, 2019, 05:22:01 AM

Quote from: DimitrisLodirogas on November 01, 2019, 06:04:15 PM

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

A lot!

But one most important thing for trader is stability of emotion.

No matter how great you are at analyzing with different tools, no matter how long you do a research, mo matter how much time you invested to get experiences, if your emotion is not stable then you might take a wrong decision.

emotion controlling and lot of practice will help us to be good trader.most of traders didnt prepare their self with good skill before join in market.tools just a tool that could not used if trader doesnt understand how this indicator work.if ever heard false signal, it caused by trader that confused with tools utility. I am agree capability in controlling emotion will make us survive in our trading carreer.

Emotions are going to be a poison for us if we will not control it properly because mostly we will not notice it until we have lost some of our money, controlling emotions will lead us to a better decision in our trades which can help us lessen our loss and indeed no matter how good you are at technical analyzation if your emotions are not stable then you are at risk of losing.

It's normal to become so emotional in terms of trading process but it depends of the user that can control their emotions. Basically, most in trading process makes us so emotional and have a possibility to have a huge losses. Likewise, the situation each of us become so clever enough by have enough experience and to learn our mistakes in the end.

conex

member

Activity: 318

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crypto enthusiast

Quote from: drachman on November 20, 2019, 09:52:45 PM

Quote from: jamesndungu1 on November 16, 2019, 10:35:56 AM

Trading tools and assets to trade Grin

My favorite trading tool i use on a daily Trading View, mainly due to its feature of over 100 indicators and over 50 charts, which allows me to create bespoke charts to suit my trading strategy. Secondly, TradeSanta comes in handy as it helps me make a profit even while I sleep through its ability to automate crypto trading.

Those are nothing but accessories, what you need is skill, and if you don't believe me then you should read about the lives of the traders that lived many years ago, before the advent of computers traders needed to draw their own charts and they needed to calculate their own indicators by hand and then draw them by hand as well, and yet many of the theories of those using those very rudimentary tools are still used by people using the most advanced computers available today.

Those were the times. Imagine doing all by drawing, will definitely try to do it even if it's time consuming (and i'm a terrible drawer). Cheesy

Claudiu.Pana

newbie

Activity: 15

Merit: 0

All the above to determine the sentiment of the market.

But for trading you need (from my perspective) 3 key points to master:
1. Money Management (you need to know how much you going to invest in 1-2-3 trades, knowing your balance, knowing how many hands you can have, knowing how many losses you can take, etc)
2. Risk/Reward (you need to chase trades with a good risk/reward)
3. Discipline (know when to go into a trade, don't rush, don't get sentimental, know when to stop, etc).

Vertex_ICO

jr. member

Activity: 602

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Quote from: DimitrisLodirogas on November 01, 2019, 06:04:15 PM

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

Tradingview is a good start! But there are definitely other resources and news sources too. Reddit and twitter are always great for news. Just remember to always do your own research.

drachman

sr. member

Activity: 756

Merit: 252

Quote from: jamesndungu1 on November 16, 2019, 10:35:56 AM

Trading tools and assets to trade Grin

My favorite trading tool i use on a daily Trading View, mainly due to its feature of over 100 indicators and over 50 charts, which allows me to create bespoke charts to suit my trading strategy. Secondly, TradeSanta comes in handy as it helps me make a profit even while I sleep through its ability to automate crypto trading.

Those are nothing but accessories, what you need is skill, and if you don't believe me then you should read about the lives of the traders that lived many years ago, before the advent of computers traders needed to draw their own charts and they needed to calculate their own indicators by hand and then draw them by hand as well, and yet many of the theories of those using those very rudimentary tools are still used by people using the most advanced computers available today.

Magkirap

sr. member

Activity: 896

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★Bitvest.io★ Play Plinko or Invest!

Quote from: Serco on November 02, 2019, 06:43:18 AM

Quote from: rijaljun on November 02, 2019, 05:22:01 AM

Quote from: DimitrisLodirogas on November 01, 2019, 06:04:15 PM

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

A lot!

But one most important thing for trader is stability of emotion.

No matter how great you are at analyzing with different tools, no matter how long you do a research, mo matter how much time you invested to get experiences, if your emotion is not stable then you might take a wrong decision.

emotion controlling and lot of practice will help us to be good trader.most of traders didnt prepare their self with good skill before join in market.tools just a tool that could not used if trader doesnt understand how this indicator work.if ever heard false signal, it caused by trader that confused with tools utility. I am agree capability in controlling emotion will make us survive in our trading carreer.

Emotions are going to be a poison for us if we will not control it properly because mostly we will not notice it until we have lost some of our money, controlling emotions will lead us to a better decision in our trades which can help us lessen our loss and indeed no matter how good you are at technical analyzation if your emotions are not stable then you are at risk of losing.

jamesndungu1

member

Activity: 434

Merit: 25

Trading tools and assets to trade Grin

My favorite trading tool i use on a daily Trading View, mainly due to its feature of over 100 indicators and over 50 charts, which allows me to create bespoke charts to suit my trading strategy. Secondly, TradeSanta comes in handy as it helps me make a profit even while I sleep through its ability to automate crypto trading.

drachman

sr. member

Activity: 756

Merit: 252

Quote from: JC btc on November 13, 2019, 03:15:54 AM

Quote from: jcpone on November 12, 2019, 07:52:47 PM

Reading in the forum most of the time can give surely an additional idea and knowledge about in trading, aside from keeping yourself update in any of the crypto news site. And as a trader you need to know also the proper attitude when you are in the actual trading platform too. and I think watching tutorial also might give you also a good idea too.

There's a lot of trading tutorials here and over the internet so there is no excuse for us not to learn trading especially if you really want to learn it. But, we can't learn trading if we will not start now, we should start now or else time will come we will regret for not studying trading at first when we still have time. We can do trading even during our spare time. This forum also helps not only in trading, but also technical discussion when we prefer doing mining too.

While you can find information about how to trade all over the Internet very few of those sharing that information actually trade for a living, so they do not really know what it is needed to make money in the markets, so when you begin to read information on the Internet always ask yourself this question, how does the person that wrote this article earns money? And if the answer is anything other than trading then look somewhere else since the odds you are reading junk information is high.

shield132

hero member

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Quote from: DimitrisLodirogas on November 01, 2019, 06:04:15 PM

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

Of course you need to read news constantly to keep in touch what's going on around bitcoin, cryptocurrency and blockchain technologies cause sometimes that happens when one hot news like ban of bitcoin in china for example or hack of exchange or one exchange decided to stop withdraw for a while, I want to even remind you the moment when coinmarketcap decided to remove some exchanges from it's platform which affected bitcoin price. So in overall, yes, you have to read news around it.
Platforms/tools help you to create some mathematical analyzes which can also help you in trading cause sometimes charts repeat.
And what do you call trading view? When your ego tells you to buy/sell bitcoin or any other cryptocurrency? Well, I will tell you that luck is also major factor in trading.

JC btc

sr. member

Activity: 770

Merit: 253

Quote from: jcpone on November 12, 2019, 07:52:47 PM

Reading in the forum most of the time can give surely an additional idea and knowledge about in trading, aside from keeping yourself update in any of the crypto news site. And as a trader you need to know also the proper attitude when you are in the actual trading platform too. and I think watching tutorial also might give you also a good idea too.

There's a lot of trading tutorials here and over the internet so there is no excuse for us not to learn trading especially if you really want to learn it. But, we can't learn trading if we will not start now, we should start now or else time will come we will regret for not studying trading at first when we still have time. We can do trading even during our spare time. This forum also helps not only in trading, but also technical discussion when we prefer doing mining too.

jcpone

sr. member

Activity: 685

Merit: 250

Reading in the forum most of the time can give surely an additional idea and knowledge about in trading, aside from keeping yourself update in any of the crypto news site. And as a trader you need to know also the proper attitude when you are in the actual trading platform too. and I think watching tutorial also might give you also a good idea too.

rodel caling

full member

Activity: 952

Merit: 104

Quote from: DimitrisLodirogas on November 01, 2019, 06:04:15 PM

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

The list above you mention is best tools answers in your own question I add in your list as your guide as trader decision making is the best way tools also as trader always decisde yourself independently.

Quote from: Landak on November 08, 2019, 11:20:22 AM

quite simple, which is reading the news and looking at candlesticks.
reading the news is the most important in my opinion. whatever the news, usually will have an effect on market movements even if only briefly.
practice it directly by adjusting the settings on the candlestick and place buy/sell positions, and also do not forget to always use Stop Lose and Take Profit.

Exactly mate monitoring the everyday the latest market trend news is very important needs as a trader to analyst the narket situation how to make decisions buy potential coins to get earn.

suzanne5223

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Quote from: davinchi on November 12, 2019, 07:54:22 AM

Quote from: ?? on ??

As a trader, the most important thing you need is not to be greedy. Its no news that coins will appreciate and depreciate. So you must learn to take your profits even with low percentage. It doesn't have to be 100% increment before you take your profits.

You also need to stay abreast of rise and fall of the prices. A good internet facility to track rise and fall of prices is fundamental.

People have greed in them naturally, but ability not to control is s what becomes a problem, and this is why many analyst would advise that before getting into a trade, we have to learn to always try to control our emotion first at any point in time, if we can control our emotion about greed, then I doubt if there is any increase opportunity that will pass a trader by, and if we find it difficult to control our emotion, I think that there has been lost of tools that has been created like that of stop loss and take profit that can assist us in learning how to control our greed if we can always set It.

When I first started my own trade too, I found it very difficult to really control my greed, and pending the time that I was learning to naturally control it, it was this stop loss and take profit tool that I was using.

I believe the major problem crypto traders had was lack of knowledge and aware of new occasions about the market cause even when greed and emotion took over a trader, knowledge is enough to make the trader thrive and avoid loss. However, a lot of trading tools were indeed implemented to make a profitable trade but the last time I check those tools still need some unique setting before it could operate perfectly.

Topic: WHAT DOES A TRADER NEED? - page 3. (Read 1243 times)