What is the main factor to be successful in short-term trading?

exstasie

legendary

Activity: 1806

Merit: 1521

Quote from: VonSeed on March 22, 2019, 06:31:23 AM

Hi guys.

Please answer me this. Will help me tremendously in my quest to present the most complete trading guide ever.

Cheers.

They are all important. I would say "Right Mindset" and "Traders Psychology" are the same thing. Basically, don't trade based on emotion.

The thing is, if you have proper risk management, you won't trade based on emotion. You won't FOMO because the risk/reward usually isn't good enough to enter a trade. And you won't let losses run because stop losses are crucial to proper risk management. So I think "Risk Management" edges out and "Right Mindset" and "Traders Psychology."

It's a tough call between that and "Trading System with an Edge." If you don't have an edge, you'll never profit unless you're just lucky.

alisafidel58

full member

Activity: 364

Merit: 127

I did go for money and risk management. Short-term trading has a lot of risks because crypto trading is so volatile and cant promise you profit in short-term as the market price moves constantly. If you have the money and is not afraid of the risk then maybe you can hit a jackpot for short-term when you hit a bull run while you are trading.

ryzaadit

legendary

Activity: 2660

Merit: 1261

Depends on what coin you are gonna invest, I have some several methods for my trading activity example i trade with a shitcoin because they all really good for short term trading.
Money & Risk Management
Speculation
Calculation High & Low Price
I use all of them for my trading if you trade on shitcoin, but if you investing on major coin better to makes you should learn more about Technical Knowledge, Psychology & MM.

ajqjjj

hero member

Activity: 1498

Merit: 507

Not your Keys, not your Bitcoin

Quote from: VonSeed on March 22, 2019, 06:31:23 AM

Hi guys.

Please answer me this. Will help me tremendously in my quest to present the most complete trading guide ever.

Cheers.

All the above are important in short term trading because If you looking to start a trading all the needs are important to increase the profit so we will not said anyone But we can shuffle the preference of each one. In my concern Money and risk management make huge profit or loss so short term traders read the facts.

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

experience!

you would be surprised how simply having experience would make a huge difference in this market. in order to be successful in trading cryptocurrencies people must spend time watching and analyzing the market for a long time and also trade them for some time to learn how things work and become more familiar with things that can really affect the price and things that seem they can but they don't.

there are a lot of other things that are helpful, like money management, risk management, having the right mindset (as in not acting emotionally when you buy or when you sell), knowing some technical analysis, maybe even using tools like bots,...

Bitinity

legendary

Activity: 3066

Merit: 1312

Voted for Money and Risk management. Simply because short term trading will require more money than long term trading in order to make profit because the price movement is not much. So with big capital, a trader can make nice profit although the price movement is few percents only. Risk management obviously needed, short term trading which required a big capital should be accompanied by good risk management. In this case you should able to set sell stop and buy stop.
But I have to admit that all factors on the vote list are all needed, so if you are able to combine all those factors in daily trading then you'll be able to make profit.

neonshium

hero member

Activity: 1134

Merit: 515

I selected trading system with an edge, because I am a trader myself and I have to trade of short-term basis and I have never regretted doing it because of the method I always use in trading that works for me, even if the market is bearish or bullish.

The trick is that I trade between normal coin and stable coins, once I see that there is going to be a drop in a coin am in possession of, I dump it for stable coin immediately until the dip is over and then swap back thereby making loads of profit.

VonSeed

newbie

Activity: 14

Merit: 0

Hi guys.

Please answer me this. Will help me tremendously in my quest to present the most complete trading guide ever.

Cheers.

Topic: What is the main factor to be successful in short-term trading? (Read 164 times)