Topic: What is your advised for being a trader? (Read 1439 times)

I might have to second your idea, high risk crypto trading, for that what you say is related.
For this reason, my advice is for beginners who are new to crypto if they have minimal trading knowledge, It's best to do an investment method at first, I think this investment method is more successful for many beginners.

I think investing is not as risky as trading, you just need to look at the types of crypto that have potential and good opportunities in the market to make good profits, that way I think it's good, Of course, trading knowledge continues to be developed, when trading knowledge is solid, step by step you enter into trading on a small scale.

Good to explore but explore with brains and explore when you have gotten enough knowledge so that as you are exploring your exploration should come with profit, doing try and error wont pay and the best thing you can do is to know what you are doing and get serious in business because losing money in this economy is not really an option so personally am against exploration i will call that waste especially when i lose money,  loses will happen but it should be minimal and proper procedures should be followed since the entire business is a risk so it will be better to do what is right always.

If you are a beginner and want to explore the world of trading, use spare money to gain knowledge from this market. Because losses will always be there even if you say, you already read a lot of books about trading. Crypto is a volatile market and the market behaviour of every alt can't be found in those books. It depends on a lot of factors.

Performance of crypto depends on -
> actual developments of the project - actual product/service
> marketing
> professionalism of the dev team
> actual use case of the project
> extent of supporters
> presence in top trading platforms
> and to top it all, definitely, the supply and demand of the coin/token

Of course it is true that trading is a risky activity, no matter who you are, whether you are a beginner or even a professional who already has a lot of experience in the world of trading, in the end you will definitely experience occasional losses. Yes, it's true that everything that involves money is usually risky in any case and trading provides the opportunity for profit to all the typical traders involved as well as providing the possibility of loss but the difference is yes, obviously you have also said the right thing above that by studying various related things about trading such as strategies or other things that are useful as preventive measures that lead to risk management, it is clear that this knowledge will be able to minimize the possibility of our losses. Smart and understanding traders are those who are always willing to learn various things, because trading is not only about the opportunity to make a profit, because trading can also be an activity that is dangerous or even destroys your life from a financial perspective if you treat it in the wrong way, so Of course, the key is to have a strong intention and determination to learn so that we can gain a lot of knowledge to be able to get maximum profits and also minimize the number of losses.

Because trading is risky that is not a guarantee for traders to just enter the market because they want to take risk to make profit. Trading is risky but the risk in trading can still be minimise by learning more about trading. In fact everything about making money is risky but when trie to acquire knowledge it helps in reducing the risk of losing money in trading. Trading being risky doesn't mean people needs to come in with no knowledge thinking taking risk is also a way money can be made. Trading is not gambling but a skill that people learn to acquire knowledge to make it easy to gain profit.

Trading is risky and we should take this risk after learning to overcome the risk because we have learned that nothing is impossible in this universe so if we try our best and learn strategies about trading then we can learn and trade to make profit.

We have to trade and not gamble so don't try to check your fate as in gambling you will lose more than you earn therefore there are lots of other ways to take advantage of trading instead of assuming it as a gambling.

Risk is in every field so we will not leave risky fields but it is also not a good idea to enter into the risky field without any equipment so learn well and then take the risk.

Anything that involves on risking up some money to gain up money does really have that certain risks on which it would really be that understandable that you would really be needing up for you to get yourself that prepared for whatever things that you would really be able to encounter ahead. You cant just that make yourself that be thinking up that you could really be able to make good trades or able to acquire such skill in a short period of time on which we know that this is something that cant be possible. Advises would really be purely be that pertaining about on sustaining yourself into this unpredictable market.
Whenever you do experience loses then try out to check it out on what goes wrong, so that on next trade you would be making then you do know on what you should gonna do.

It all matters with that adjustment and with that kind of versatility because if you could really be able to find yourself on having that kind of behavior then
this is something that could make you sustain.

I doubt even if its experienced and seasoned trader will find it easy to trade, the market sometime acts so randomly that making profit might depends on pure luck.
indeed there are some time where the direction of the market gonna be taking is obvious whether its gonna be bullish or bearish but as I've observed, it always have 50:50 chance of turning the other way around.
threfore I doubt that veteran trader as much as experienced they are finding it easy.
but I do agree with the fact that greed is such influential factor that could causes lost in trading though, indeed sometime newbies are just too greedy to want to be rich overnight the over leveraged their capital more than 25x and suddenly faces massive loss then they wonder what they did wrong and regret it.
just never over leverage guys in trading thats my main advise in being a trader.

We all know that trading is a very risky thing but we also know that if we cannot take risk then we cannot earn, if we don't gamble or make a risky decision then we can only earn a small amount or profit, so for me we need to take risk and we need to do trading in a very careful way with proper understanding, risk is always there but experience is always a good way to know more about making a good decision in the future so just continue and get a lot of experience for good.

     You know it's true that trading can generate money and can be applied in this era, both traditional and online, because of the technology we have now in the generation we are facing. But of course we must have an idea or knowledge here because we know that it is impossible to be ignorant in this type of business industry.

     And you are also right that trading is also very risky because we are talking about money here, where if we make a mistake by buying crypto, our capital will just be dissolved, that's all, but if we choose to buy correctly because we have done research here, the result will be good for sure.

Yes, I understand what you are saying and that is good, which means that as a trader who is active in the market, we should not only think about profits, but on the other hand we also have to prepare ourselves to accept the facts about losses and this is a typical trader who is responsible for his own decisions. which comes with the goal of seeking profits like other people and also having good self-acceptance of the fact about losses which, however, have become an inseparable part of the world of trading.

Simply put, if you have the opportunity to profit then there will definitely be a risk of loss and good traders are those who can prioritize themselves in various ways to minimize the possibility of loss so that the amount of loss does not exceed the amount of profit obtained, or that means the amount of profit is much greater than the loss. . In various cases, emotions are always the main trigger for problems that make traders end up in bad situations such as experiencing MC, therefore it is clear as you suggest that having a good level of patience is an important aspect that all traders must have as one of the actions to minimize emotions.

"You won't master the market. You will master yourself so that when market changed, you can cope."
That's the advice. Yes you need to have a system or a strategy that has positive expectancy over a long period of time. Yet you also need proper mentality and you need to think in a way that is different from than 95% who fails in trading. You need to accept that trading is a long game and once you rush in, bad habits will creep in. Learn to manage emotion and expectations. Lastly, learn to detach yourself from money. That is very essential when you go then consider scaling your account.

As you are saying that you have not been able to become a successful trader so far, after reading your comment, I would like to say that you have learned the basics of trading and I hope that in the future forum can be very successful traders if you stick to these principles.

Apart from this, I would like to add some more things to your knowledge. If you want to become a successful trader, the first thing you have to stop doing is trading by following everyone's advice. As you know for any work we have to work hard ourselves, the same is trading also for that we have to search for ourselves.