Bitcoin Forum

Professional trader know the methodology of trading. Most skillful trader  didn't trade with emotion they have their predetermined exist plan and have good trading plans. 
 

There are 2 kind of tradings. Online which is the most risky one and offline in which a trader usually makes profit.

Here is an example: Online you are betting on a pair, on a single product price like commodities for the price to go up or down. In such environment usually most of the people lose.

Offline, what I do with my local currency in my country. My local currency is EUR, and now is very weak compared to the USD. I don't do anything in such scenario. When the Euro is strong I buy USD with it and then wait for a time like this in order to buy the Euro back when dollar is stronger, resulting in increasing in the number of my Euros.

I suggest to you and every one else physical trading over online trading.

You realize that you can invest in Euro/USD while online, right?

Unless I'm reading this wrong, if by offline you mean long-term buy when low and sell when high on your local currency, then yeah that's a pretty safe investment, althrough that could be said for a lot of other things including Bitcoin, regardless of how violatile it is, it still has been historically very profitable long-term wise.

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trading is professional job
if you want to professional trader in characteristic, you must learn to soros
soros is the best trader

it's not that difficult to trade forex

Like other said trading is professional skill but you should start in basic knowledge about trading before you become professional you need to start in basic trading and discover some methods how to grow your capital in trading.. it is not easy to trade but if you can learn to analyze and some methods that you can make profit and learn and discover new methods to increase your profit..

as it was said, you can do what you are explaining online too. and it has nothing to do with being offline or online for making successful trades.

besides it seems to me like when you are using the term "betting on a pair" it shows you are not so familiar with trading. because trading has nothing to do with making a bet or buying something and profit if you are lucky and price of it goes up.

instead you buy something (currency, commodity,....) when you analyze the market and make the conclusion based on observation that price is at its lowest and also when you do a risk assessment about the profit and loss that is possible to happen and then buy at the bottom to sell when the price went up.
although this is a simple explanation but it is the whole idea of it which has nothing to do with betting and hoping price goes up.

The most skillful trader is the insider trader, you can study 2000 books but trading is always a mystery, especially bitcoin trading

To be a skilled trader you have to endure a lot of losses first and learn from your experiences, but one advise that is always very effective in knowing where prices will go is watching out for news and latest economic calendars.

It is there are professional trader who can manipulate trading and coins to be decrease and increase. And most of skilled trader are good when they are pumping nor dumping the coins to get a profit their are some plans so they can earn high profit.

Every professional have different view on how will they deal with their tradings goals. If such cases that their own plan give them success they will stick into it and will enhanced it more.

So same even with putting emotions or not. It will not dictate the overall trade after all since it's not predictable.

They don't trade with emotion but they try to learn the psychology of other traders.  ;D
Elite traders don't look at doubling or tripling their bankroll, they used to set fix profit range per week/month and work according to it.
Experience however plays big role in trading practices and skills, you can't be professional trader within few weeks or months.

Professional trader know when to sell and know when to buy, it is the experience that sharpen their skills not some theory from book or internet, they can even make profit from the most difficult situation and for sure they didn't follow their emotion and they not blindly follows market trends

but for me, i think not all skillful trader didn't trade with emotion, i think its because the trader itself should have many experience when they do trading and this will give impact for them. the more experience they have, they can control their self when they do trading and its really important for us especially for me, to control myself to avoid the greediness.

Emotions is really a big problem with doing trades because it will affect you psychologically and if this will happen to you, you could not able to decide properly and might be derailed on your listed plans or methods that you should do thats why its really hard when you let your emotions overcome you when you are in the middle of a trade.

Skillful trader don't acutually needs advices or he just seeing the graph of the coins where it to drop or when it increase they stocking lot's of altcoins (alternative coins) to earn more than they know. Emotion is really big problem also in trading if you are just a newbie in this industry then your about to scared loosing money.

you have said it all. Emotion is the major reasons many inexperienced traders loss in trade and you should also know that its still the same reason experience trader make alot of money from trading. You should know that five percent of trader make the money of the loss of the remaining of ninety five percent.

The professional and novice traders will be doing almost similar things but their plans and management will definitely differ. Only with experience a person may become professional trader not by just reading some books. So, good management and profitable trading tactics will be possible only through experience alone.

Yes you have to take the emotion out of it. You need to avoid panic selling or buying and set up a system for trading. I preset buy and sell orders and just let them clear when they reach that point.

I've seen problem with people's emotional nature a lot while I traded on my local exchange.
Sometime out of a blue one huge sell order appears, when rest of traders see it some of them lose their composure and panic, setting much cheaper sell orders.
And how chain reaction usually begins - in extreme cases I noticed that BTC price can go down even ~$100 - before someone sane appears an buy BTC from these idiots.

Yes emotions will kill your trading plans. Usually traders do start their day with some predetermined plans and discipline regulations. But when they are facing market movements against their decisions, they lose their emotion control and start breaching their own trading-plans and disciplines.

Failing to control emotions will not help a trader to become professional. But emotion control will be possible only through experience, most probably professional traders are expert in emotion controls.

Yes you are right, to become a professional trader should start from the basic. To be able to learn and success in trading requires learning, and it requires a fairly long time. A professional trader already has a very long trading experience even more than two years. I believe professional traders never make mistakes in trade but they can overcome it.

and its need time before we can get success like a professional trader. beside that, we should ready to learn anything lesson from others experience and apply in our trading with a modification that can work with us. i think its normal if a trader make a wrong decision in trading and many trader to do this but with a good effort, they can get their profit back to them and continue to trading and make another profit.

Don't really need a long time. if you were gifted on this thing then you just need short amount of time. the most important thing is gaining an experience from other by following course or reading book about trading and then you will know the basic of trading or even having wider knowledge.
that's seem very simple but really important

Trading is not an easy job, it may take some time to predict the coin which will give you profit, today every coin is like pump and dump coins only, there are many people who are trading marginally. In starting you may loose some money but you will be great after learning lot of mistakes.

to be professional traders you must start it with step by step and there is no instant way for that also most of professional traders have their own method how to analysis the market and trade with successfully but you must remember that even the professional traders also had experience to lost and don't ever think professional traders always got profit from their tading activities

Professional Traders know about methodology of trading, each corner of trading. But how will you be determined as "professional traders"?
So I guess, having a very tricky mind will make you professional on that.
like other says, there are 2 kinds of traders online and offline as they stated.
Both trading method is risky but all you need is to think so many times on this because you might reversed and be tricked.

Yes because everyone is able to understand something different time. But I think that people can trade like a professional it takes time. I've searched about successful traders article that can generate millions of dollars with certainty of trade, on average, they can become a successful trader and make a lot of money from the trade certainly take up to one year more. Not easy to do that, and I think that takes time. And you're right we have to expand the knowledge of the trade like other people's experiences, reading books, etc. It would be helpful to become a successful trader.

Pro traders doesn't always win still, this is why they stick to BTC because this coin always win. if you are talking about FOREX then thats more complicated due to each county's economy.

Most of the newbie traders trade with emotion, so they used to loss so much due to panic selling when price get dumped and buying in panic when price is getting pumped.

Elite traders just do opposite, buy when price is seeing some correction after pump and sell when price is pumping hard and stay at peak for sometime.

To become a professional trader you need to get a good experience of trading, you also need to have good knowledge about trading mechanisms of different technical analysis aspects.

A good trader always do a lot of study and find out the good and bad aspects of the commodity in which he is going to invest.

Bitcoin like any currency has ups and downs and if you are unable to predict the movements then you are going to lose money, so no if you trade with bitcoin you are not going to always win, although it is a good investment.

The safest way to trade bitcoin without risks is to buy and hold for a long time - maybe till it reaches $10 000. ;D
Regular trading involves some amount of risk.

an elite trader / professional trader not always trade with that style
it could kill them in a secs if they continuously do it
a professional trader is the one who can make profit steady even low amount only
they never think to make money a lot in one night , they are the survivor.

In world of altcoin if you are just predicting the movement you will never make  a good income.. for me i was choosing old or well known altcoin or you can choose top 20 altcoin in coinmarketcap those are live for a long time.. that usually you can hold for a long time for long term investment you can make a good profit if you have a good patience if the price is not increase right now you can still be wait..
If you choose newly release altcoin without background check you can also lose it..

I don't think my age still enough for it. Risk will always there.

The pro wasn't likely to be a king in trading. Newbie can win anytime. It has caused by The only once coin which has the best sustainability.

I am a proffesional trader
You have to find a stategie that suits you and it is for everyone else
In the beginning, you make mistakes
but you also learn from your mistakes
It's my profession and I know from experience that not everyone who has gift
You need time to do your analysis and read your charts
Once you have this under control you can start trading.
It takes time and patience and self-control
Believe in what you buy and manage your charts and buy at the right time
You can learn a lot every day

its a good suggestion for us and i really learn with this, i hope in someday, i can be like you. but yes for first time its really hard to make analysis with the coins, but from time to time, i am sure we can be familiar with that and finally we can be easy to make an analysis and we can buy and sell with our methods.

Correct,everyday is a learning day and we are making our selves to be good on trading as the day will passed since experience and mistakes will mold you to be a better trader and you should not really quit if you commit mistakes at first since its a normal thing to happen even on longer runs you will still suffer losses but the most important thing is to maintain profits even you are lossing some.

Yes professional traders have their own method, there's no quick way to be a professional trader, the biggest mistake from newbie trader is they thinking trader is all about profit they're not realize that can be losing to with trading but always learn and control emotion and control the fund we use for trading is important too

To be professional in bitcoin trading, users needs to make perfect decision on selection of the digital currency as well the for the trading purpose. Then needs to make close observation of price variation and fix the profit margin. Based upon these factors trade volume could be increased.

Still we can see the successful traders with the low volume and high range transactions. You could check with the localbitcoins where you can start with the low investment and money limit starting according to your country's fiat currency, I would just simply price chart make decision thats it.

Depends on the type of trading we are doing like for example I often do bitcoin's price trading and make money while I am not really a pro trader and at the same time when it comes to alt coins trading then I am really bad at it because neither I am professional nor its like bitcoin's price trading where I can just wait and sell. So, I suggest BTC trading if someone is not a pro trader.

Actually yes with localbitcoins even a normal person can become a professional trader because we can make two listings on LBC one for buying bitcoins and other one for selling and obviously keep a little difference between the sell and buy price and hence easy profits. Just make sure someone does not send you money from hacked accounts to bank.

Actually to become a professional trader you have to make your actions more and more natural and obvious.
If you start thinking and feeling from inside like professionals then it would be the opposite that will happen. It is always better to make some obvious moves and learn with time to become a professional.

Many coins, in fact, are just pumps and dumps. Actually, this holds for more than ninety percent of them. So the first step is probably to choose the right cryptocurrencies to trade, then you have to identify the factors that can lead to a rise or fall in the price of the currencies. You also need to know the team behind these projects, and be aware to know if the improvements will be delivered on time.

Those are the important things you should pay attention because if you follow these behavior or standards you could actually choose the most potential altcoin out there and not goig or putting money into the wrong ones. Emotion do really matter especially when you are in the middle of trading because you will definitely make some bad decision that would really lead you to lose of money.

You are right emotions also takes a big role in trading on that time of buying and selling you should decide well to sell it or buy it. Just control your self. Well you should know also what is the best altcoin to invest on so that you wont loose your money. Trading is good :D

if you want to trade like a professional, then you need skill and precise predictions. you can have it by playing continuous trading. if you do that, I am sure, you would find your way separately to make more money from trading, and you're probably going to be a professional

That is not even enough to be a good trader, you need also to read predictions of other traders and that will surely help you to trade professionally. Even though you may eat your pride by doing it but it doesn't mean that you are not good enough. That's what we call strategy, just like in buying and selling you need to canvass first.

experience will allow you to keep learning more and more and most pro really invest their time and effort for them to learn how to make good decision in placing their investment i'm sure if you keep doing it you will be trade like a pro.

professional traders' are made and not born. I have been around forex for the past 8 years and one thing I have find out is that; new methods or a new price pattern are developing every day, therefore we need to open our minds to a new ideas and information daily for us to remain a successfully trader.

Indeed, since trading can be learned and studied. Also long time experienced made you professional and very confident with your decisions in trading. In your long time experience,of course losses and failures are included that it makes you knowledgeable about your trade.

Before we become a professional traders, we should learn
the basic way from the start. Its a process on how to become
a professional traders. Learning is a process in trading.

Waiting for the price to increase to something like 10,000$ would be called as investing in the future currency and not really trading because trading means where your money is not stuck and is regulated at regular intervals. While trading is good, I always prefer investing in bitcoins for future too.

The truth is that you don't have to subject yourself to lots of losses to become a skillful trader as the best way to learn a thing is from other people's experiences, wait to learn from your experience might end up a fatal experiment. Good news is that there are many useful sites and resources online and that are even free to get you on your way to successful trading only time and patience is highly needed, unfortunately so many people are having them in short supply.

My suggestion is first to learn to trade forex in places like babypips, forex factory,etc to familiarize yourself with technical analysis tools and terms like, support and resistance, trendline, pivots, overbought and oversold conditions, etc and you will be standing better chance spotting when to buy or sell cryptocurrencies.

Are you a member of mt5 forum? This is the classic thread without interesting ideas to discuss that we can frequently read there because of bonus hunters. I hope you can stop this bad attitude in order to increase the quality of this bitcoin forum.

I don't think you need to undergo this kind of losses.  You can learn from the losses of others.  For there are several option to learn.  You can learn by your self, learn from experience of others or learn from the books.  The best way is to use every option and maximize its effect.  I would rather learn from the experience of other people when it comes to losses :D

But if a person study deeply about trade and learn all the tricks involve in trade and he will have a very good intelligence then he will be a very expert trader and will not lose any penny in his trades. All you need to get knowledge you will be professional.

You are always going to win if you have little patience along with some healthy bankroll because the ups lasts longer in bitcoins than the downs and hence what we all need to do when the price is low is just wait for a while.
I have given loss due to my impatience earlier and hence I know this.

i'm disagree with you when you say "will not lose any penny in his trades", even they are expert trade they can make mistake too, so one trader can always get profit, but the important point for trader is final result is gain profit example they have 2 trade, 1 trade gain 2 btc profit but in another trade they lose 0.5 btc the final result is they gain 1.5 btc, so they can be lose but they lose covered with another trading profit

While I certainly agree that it is better to learn from other people's mistakes and experiences, but it is rarely the case. And what is more distressing, people typically don't make the same mistake twice. It is usually three or more times, while some people can learn it only the hard way, very much like in gambling, and some cannot learn at all. Books can be helpful if they suggest specific techniques, strategies (which are mostly useless, anyway), or explain in detail such intricate financial assets like futures, options and swaps. Other than that, books are pretty much useless too, primarily because they tend to complicate the matters beyond what is actually required for a wannabe trader...

After all, the authors of such books have to write about something on two or three hundred pages

There is no specific methodology while trading. the only basic method is buy low and sell high and it is the basic thing to remember and understand the market and monitor it carefully and understand the resistance level and make a stop loss for damage control if something negative happens .

It largely depends on what you are trading

But with bitcoins it is quite close to that. If you don't want to just buy, hold, and wait till the price grows (which seems to be the simplest method which can still be loosely called trading), you can use a more active approach trying to ride a wave. But it is more time consuming on the whole, and you have to watch the prices very closely since they are prone to abrupt movements, in both directions. And when the price more or less constantly rises, it may not be very effective in comparison with the first approach (i.e. simple buy and hold)

The cryptocurrency market is still young, so for now your approach might seem right, but as time goes and the market stabilizes, you will discover that you may never get to win all trade and some might want to take forever to turn profit. For instance, if you had bought BTC in 2013, when the price hit over $1000, by now you would still be angry with yourself for such a rash decision.

That approach would work even better then

If market stabilizes as you say and price mostly trades sideways, you could just employ the BTFD strategy directly without a second thought. The problem is that the market is hardly going to stabilize any time soon (or ever). With the price growing, we could as well expect the volatility to grow too, at least in absolute terms. The only way in which the market could stabilize (barring Bitcoin "stabilizing" at 0, of course), is universal adoption of Bitcoin by merchants and vendors which would bring down volatility

But I believe each and every trader will be doing same buy low and sell high still there are many different strategies and management techniques need to be applied to have a better trading experience.

A professional trader will find easily where to buy and where to sell whereas a novice trader will be struggling to find out those buying and selling points. Precisely the technical part may differentiate professional traders from others.

you can really make good profits on the forex exchange.
Like today you could make good profits
you need to understand the forex market and buying and selling at the right time.
There is so much to learn before you start it

You are right. To trade like a professional trader we must need strong technical analysis skills. Without those skills I believe even professional traders could not make profits in consistent manner from trading.

Anyone may become professional trader by experience but to sustain in trading we must need strong technical analysis skills.

Trading is not easy job just like other said and i think it needs to start in small amount until you you learn a new methods and good ways in order to make a good profit.. like other said experience is one a good thing that can help you discover good methods to earn a good profit in trading..

I agree with you in the sense if the price of an asset start to decrease then he is losing his money with the drop of the price and there not any skill and experience work but only one thing save them which is start trading on another asset which will cover the lose of here.

Along with experience it is also fruitful to take some lectures about trade in the beginning for that he have to join a training academy or have to join a business school so that he learn all the methodologies involved in trade.

It all boils down to knowledge and experience since amateur trader does not have any will probably make a lot of mistakes but the experimented trader will have both and will be able to make money even in a difficult market while the amateur will have problems making money even in the best of circumstances.

Those that want to learn just remember risk management. Even if your not that good risk management will work as long as you can identify trends.

The good thing about trading, knowledge and experience are that every information a trader need are free online. For fundamental analysis, forexfactory proved one of best forex news site and for daily technical analysis; investing.com proved every analysis for you for free all you just need is to visit the site. If you are known to trading, you should developed you trading skill by following this two site.

In the trading world being patient is one of the most successful keys, without being patient you can lose profit or rare get a profit. It's good to make a plan what are you going to do, what do you expect and see the result, when losing in trading we should not consider that as a lost but as a good lesson.

If you know what you are doing patience is irrelevant

It could be used as a marker in its own right. If you are impatient or feel worried, say, about where the price should go, it just means that you pretty much don't know what you are doing since you are relying only on luck (or mostly on luck). In other words, if you are sure that something will happen, it doesn't matter if you are patient as an individual or not. Other people may think of you as being patient in that case while in fact you just busy yourself with something more urgent until the time to act comes

But traders who are ignoring to learn from their mistakes and not updating their knowledge with the respect to trading environment will not able to become professional traders even they will be into trading field for years. So, just some experience will not make you professional.

A strong technical analysis capability will be possible only when you are willing to learn.

The real experts will never reveal their secrets. That's just my opinion.

There is no big secret, if after seeing my thread you still think only the top city boys know how to play the game, then forex isn't for you. follow the rules that is the key. the method plays a role but if you do not follow the rules you won't be successful no matter how good your method. you have to be a absolute genius to win by not playing by the rules

Seems some good practical suggestions to become professional trader. I just like to know you learnt these from your experience or just some books ? Because in my understanding, to become professional trader we just need experience.

Experience alone will differentiate professional traders from the rest imho.

No secret It is just about a pure luck and little strategy to success in trading

be professional in trading play is not easy. to reach it, so many disappointing things that need you feel, because to be a great person to play trading, requires a big amount. it aims to make your income higher. so, if you make a mistake, then, you will lose in large quantities. so, before becoming a professional, you need to learn the basic things in trading

I really wants to di trading but I have no experience. Some people said that trading bitcoin is different with trading forex, is it true?