Topic: What makes a successful trader, not a gambler? - page 3. (Read 2499 times)
Since 2 years in trading activity, now i know my mistake. I did alot of mistake in trading and this mistake just natural emotion that difficult to control it, that is not disiplin with trading plan. I also make mistake when first jump in to trading because i did margin trading that has more risk.
To be a successful trader, we must master various analyzes such as price analysis and trends, although many say that analysis is useless but for me analysis is a map for walking.
Well, the basic is that before jumping into something, you make sure that you know the possible repercussions of which. You do not just get yourself involved into something without knowing the possible risks, benefits, processes, and so on. There are so many crybabies and whiners in crypto. But the blame is to be put fully on them because they did not even care to learn the basics before joining. The crypto world is not for the lazy and emotional ones.
Here are some characteristics of successful traders and gamblers:
A gambler:
- Have no transaction method.
- Do not take notes of your views on the market trend daily.
- Don’t care about risk management
- Spend most of your time focusing on winning and making profit.
- Let emotions dominated their mind when trading
-Place orders without consideration.
- Place too many orders
A trader:
-Understand and master an effective trading method
-Have a clear and specific trading plan and comply with it.
- Have a daily note on market view and trend
- Pay attention to risk management for each trading order
-Don’t set making profit and winning as their 1st priority
- Only make the deal when the price model matches the method.
-don’t let emotions control their actions
- Consider coin trading as their career and daytime job.
If you have those characteristics of the gamblers, you should change it immediately. If you have trader traits, maintain them for as long as possible and remember to always think twice before doing.
A gambler:
- Have no transaction method.
- Do not take notes of your views on the market trend daily.
- Don’t care about risk management
- Spend most of your time focusing on winning and making profit.
- Let emotions dominated their mind when trading
-Place orders without consideration.
- Place too many orders
A trader:
-Understand and master an effective trading method
-Have a clear and specific trading plan and comply with it.
- Have a daily note on market view and trend
- Pay attention to risk management for each trading order
-Don’t set making profit and winning as their 1st priority
- Only make the deal when the price model matches the method.
-don’t let emotions control their actions
- Consider coin trading as their career and daytime job.
If you have those characteristics of the gamblers, you should change it immediately. If you have trader traits, maintain them for as long as possible and remember to always think twice before doing.
Your opinion is that good, but for me to be successful trader, my idea is a long time trading for successful observation of various trades where low-cost tokens and those who invest and wait to grow even when it comes for months.
any trader should have a trading strategy, methods of entering and exiting the market and the ability to learn from their mistakes
Yes, trader should have strategy and keep following his strategy no matter at what conditions. Emotions may arise as a response to the market condition, but it is better to keep calm and steady with our first plan. That's a little suggestion to avoid us to become a gambler in trading platform.
Well i agree. It's all about sticking to your gamr plan. Sometimes we either get to scared or too greedy when the market makes a big fluctuation. Learning to stick to what's planned will keep your emotions in check.
Yes, exactly you right sometimes it is impossible to control their emotions which makes them lose their value in the market. While trading we have to set some rules and regulation in order to implement even though the prices are decreasing. A person who has patience when the market is going down will be making most of the money through cryptocurrency.
I think what makes a lot of traders can be very successful and can get a lot of profits is because they can control the patience they have so that they can make this trader be successful and never lose because they can be patient.
Yeah you right. patience is one of the important points in determining your profits. but in my opinion there are other aspects that are also far more important. like your experience, your knowledge, and the skills you have. keep learning and sharpening your skills. I'm sure the longer you will become more and more expert
I think what makes a lot of traders can be very successful and can get a lot of profits is because they can control the patience they have so that they can make this trader be successful and never lose because they can be patient.
Yeah you right. patience is one of the important points in determining your profits. but in my opinion there are other aspects that are also far more important. like your experience, your knowledge, and the skills you have. keep learning and sharpening your skills. I'm sure the longer you will become more and more expert 
it seems that what makes a lot of these traders successful is from the traders they do, when they trade then they must be able to control the patience they have and certainly must be able to avoid the panic that might occur to some traders when prices fall.
I totally agree with your list. there are many gamblers now who think that they are experts. they do not have any knowledge and skills in anything but they still trade and lose. That makes the market falls down
Successful trader lives for the market 24 hours a day, literary. He has knowledge, experience and short term and long term strategy what he wants to achieve and it's dedicated to that goal. He makes analysis, records trends and keeps his emotions under control. Successful trader doesn't make decisions by his hart but with his head.
Gamblers only relay on luck and makes random rules. No matter some similarities traders are not gamblers.
Gamblers only relay on luck and makes random rules. No matter some similarities traders are not gamblers.
any trader should have a trading strategy, methods of entering and exiting the market and the ability to learn from their mistakes
Yes, trader should have strategy and keep following his strategy no matter at what conditions. Emotions may arise as a response to the market condition, but it is better to keep calm and steady with our first plan. That's a little suggestion to avoid us to become a gambler in trading platform.
Well i agree. It's all about sticking to your gamr plan. Sometimes we either get to scared or too greedy when the market makes a big fluctuation. Learning to stick to what's planned will keep your emotions in check.
the trader always knows at what point he is going to enter the market and at what point he is going to exit. this is the main feature to describe in a few words
I agree that a thorough understanding of technical and fundamental analysis make trader a good trader. But i think the crypto trading is still a gamble because there are a few who run the market which makes crypto a highly manipulated market. I have seen many good traders getting ruined in cryptos.
any trader should have a trading strategy, methods of entering and exiting the market and the ability to learn from their mistakes
Yes, trader should have strategy and keep following his strategy no matter at what conditions. Emotions may arise as a response to the market condition, but it is better to keep calm and steady with our first plan. That's a little suggestion to avoid us to become a gambler in trading platform.
hi.
1. we need to differentiate a trader from an investor.
1.a by measurement unit
- for trader it's liquidation value
- for investor, it's asset quantity
1.b by target
- trader follows volatility
- investor follows trend
each of the above criteria deserve their own commenting, but that's not the core right now.
2. both should
2.a have a clear objective (how much and when)
2.b keep losses short. if you're losing, you're losing. get out.
2.c operate the minimum, both in size as in frequency. the more you do, the more you lose.
2.d know where the market is going. it's all about the right market call.
3. to have patience. it takes 20 years to be an overnight success.
Best!
fernando a. bender
https://greenfield-br.com
1. we need to differentiate a trader from an investor.
1.a by measurement unit
- for trader it's liquidation value
- for investor, it's asset quantity
1.b by target
- trader follows volatility
- investor follows trend
each of the above criteria deserve their own commenting, but that's not the core right now.
2. both should
2.a have a clear objective (how much and when)
2.b keep losses short. if you're losing, you're losing. get out.
2.c operate the minimum, both in size as in frequency. the more you do, the more you lose.
2.d know where the market is going. it's all about the right market call.
3. to have patience. it takes 20 years to be an overnight success.
Best!
fernando a. bender
https://greenfield-br.com
Why are you comparing these two? It is not like they're directly relative to each other but they have some anonymous characteristics when it comes to making their money move. Successful trader and a gambler still does the gambling game in trading and they still get losses. It is part of nature of being a trader anyway,but comparing them directly isn't gonna come out anything new.
I think what makes a lot of traders can be very successful and can get a lot of profits is because they can control the patience they have so that they can make this trader be successful and never lose because they can be patient.
Playing a gambling is like a trading too. Every dice you will role every coin that you will buy and sell to and same for huge funds and huge profit.
A trader is quite different from a gambler. A trader is one that has a strategy and applies caution in his trade. He also uses stop loss to manage his trade while a gambler is one that wants to get rich quick. He can lose all his money in a moment. This are the differences between the both
A gambler can also make his own strategies, and the professionals usually do it. However, the casino finally never lets you win. A trader can become a very successful businessman.
any trader should have a trading strategy, methods of entering and exiting the market and the ability to learn from their mistakes
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