Bitcoin Forum

THESE 4 TRAITS WILL MAKE TRADERS SUCCESSFUL

If you have a passion for trading, Dr. Brett Steenbarger has some choice words for you: you're not going to make it. Instead, traders need to be passionate about markets. It may sound like a minor distinction, but it's not. In decades of working with billionaire hedge fund managers and traders, he's found that traders that are passionate about trading don't put in the work and trade too much.

To be successful trading, Dr. Steenbarger has learned:

1.   A rule of thumb for how traders should control losses so that they never lose more in a morning than they can make in an afternoon, more in a day than they can make in a week and more in a week than they can make in a month;

2.   Why traders should not just focus on minimizing their weaknesses, but also maximizing their strengths;

3.   A simple trading journal that will help you improve each day; and


4.   That the best traders are ones that embrace losses and use them to become better.

Author: Dr. Brett Steenbarger

Source: https://blog.topsteptrader.com/brett-steenbarger-limit-up-futures-trading
 
www.tallinex.com wants you to make money from the markets.

That's why I like to see new traders experienced mistakes at their first phase of being a trader because that will make them a better trader in the future. Even how serious a newbie trader in reading and studying the pointers of being a good trader so that they can't be loss, they will not truly absorbed it due to the fact that they don't know how to deal on that in the actual scene.

Anyways if people are really serious in becoming a good trader someday, just continue to do it regularly until they will be used to it. They will realized that no need to undergo a serious studies about pointers of becoming a good trader because they have the ability now to make a self analyzation about what will they do.

Couple of things which I have observed is that a trader should always set the goals and have the upper and lower limit of the price. If that is trigger they should exit the position and should not be greedy which can cause a huge problem. As market being very volatile it can go other way around and you make more losses if you do not exit it on right time as per your principles.

Every traders will use their own trading principle for the bitcoin trading.And some people had separate principal for bitcoin trading and separate principal for altcoin trading.Because bitcoin and altcoin strategy is entirely different.For bitcoin , you can expect short term profit.But for altcoin ,you have to wait for a long to get some reasonable profit.

Off course experience is the best teacher just as any successful trader will know success is a bad teacher. Mistake (failure) are needed for every trader to learn from. After your experience that mistake and learn from it positively you will notice your trading performance will improve. And when it comes to strategy making, it depends on the individual. Choose what suit & works for you. Just because Trader A uses strategy C and it worked for him/her doesn't mean it will work for Trader B

This looks hard to do but makes sense if you are a day trader and you wanted to maximize your profit. Trade actively and wisely is the key to achieve this and it was quite a challenge.


We always have to learn from mistake all the time and instead of crying when loosing some money, we better think of a better strategy next time.


This is very effective specially if you are a type of person who writes down important details from your own experience in trading.


I believe that this one is similar to number 2

Simple way of making yourself a good trader is by losing some of your trades and try to understand everything you have lost and try not to do it again in the future.

As a trader, you have to strive not to be constantly influenced by the emotion fear of missing out.  You have to be able sell your bag and not worry one bit if it runs higher thereafter. This is very important to being successful in trading.

I definitely wouldn't make up this list without including.."Do not be greedy"

It's synonymous with traders,as one wants to make as much profit as possible and ends up investing far more than you can afford to lose, it sure has sent some traders to their graves..

Always invest the little you really can afford to lose

1) Good mindset
2)money management
3)develop there own trading system
4)never complicate things , use simple things it works great,
5)practice   

Also traders work in patterns, they tend to create new indicators because of this. They find that if a movement is made each and every single time after something they start to look for that pattern, after a while they bet on that pattern.

Basically a traders mind works in to find a fix in the system and try to make money thanks to it, either because they believe they are smart and found something others couldn't find before or they have figured out a way that other rich people are doing in a secret way and not telling the world but he found it. It doesn't matter the reason but patterns has always been a big part of trader world even before the crypto currency era started.

Of course after crypto currency era started, it spilled over here and now all of a sudden there are thousands of people who never heard what bollinger band means just couple years ago go around selling signals based on it now.

I think the most important if to be succesfull to become a trader you must control your emotion because all the knowledge that you have been mastered  won't help you when your emotions can't be controlled.

The problem with most traders that I have seen over the years is that they assume trading to be a pure gambling and they approach it that way and in such cases, there is absolutely no way they will never eventually get screwed and flop most of the time. Trading is wide and complex and you need to give your time into learning first if you want to get the best from it. Without learning and some pretty good practice, you cannot even come by with a strategy, have an idea how to control loss, not get emotional, maximize opportunities and focus on how to fine tune their strategies over time

The best trait I would say for any trader that wants to be successful is to have the keen interest to learn and never stop learning. This is a huge profession and if you manage to get the idea that it something easy which you can just hop into without some great deal of knowledge, the chances of seeing yourself get screwed will always be there. One thing with trading is that as long as you can learn well, and be dedicated to it, as well as practicing to get better, then there is no way you won't be able to put some attributes and skills into good use.

Normally, trading itself is not even something you should always expect 100% win, strategy is just there to guide you. I know so many people who have made the mistake of thinking that once they have the knowledge and strategy, they are already set for big wins, but it is trading, and you are only taking advantage of possible fluctuations, so you really want to put in mind that losses are also possible, but how you are able to manage them is what would determine how good you tend to do eventually.

not only that can make our trade work well, but with patience is the key to our success because by overcoming the market conditions that are destroyed again, patience is what we will definitely use to avoid losses that will be received

the biggest loss in trading is greed. that's what I felt so far. continuing trading in an emotionally unstable situation will lead to greater losses. experience will shape a better person, and trade will be a fun challenge.

Sometimes, when I see the way people analyze patience when it comes to trading, I tend to wonder if they actually understand what trading means at all.

Trading is not investment that you are just holding for the long term, which in this case, you are basically taking advantage of the fluctuations, and patience is actually the last thing you want to be considering.

Have knowledge, build a strategy which includes where to buy, sell and place stop loss, and then execute it with confidence after practising for a while, and i see no way patience should even come into that equation at all.

I read somewhere that for you to be really good in trading, you have to trade with NO emotion.  I realized that this is true when I tried day trading a shitcoin. Like I couldn't care less whether I loose it all. But I keep gaining.  ;D  After a few days from 150k pieces it went up to 580K. That was awesome.  ;D  I hope I can be like that when I'm trading some token I have that are of a bit value. But honestly personally, it it hard for me.

trade can make motivation for many people. I see the trading trick about the loss can be used as a spirit to continue to do the best because if you give up after getting a loss I think it is not the best action for success in traders.

To be a good trader, i think he should not be afraid to commit mistake and always explore the possibility of finding an opportunity. Each one of us can commit mistake but we should make this mistake a lesson for us to grow.

Yes mistakes can be the lesson for us to grow, experienced would be great to be become a good and successful trader in crypto.  Every traders here have own strategy, knowledge about in trading, make a research for sure it would be great.

absolutely because we have enough experience and knowledge so we do any trade it will definitely be successful and run smoothly, and the last one in trading must have great patience

Great points listed there sir and am not surprised they all talk about mistakes, mistakes, Robert Kiyosaki said the best way to learn is to fail fast and learn fast those mistakes.Jack Ma also said "we learn from others mistakes not because we want to escape them, rather to help us so we can solve it fast when we encounter one. Thanks for the education sir :)

These method can be helpful only when people will realize that they are walking on wrong road. Now, people take trading as simple things. But they have to remember that it is not a easy work. Buy low and sell high, make 3-5% profit also can help to be successful on trading.

The point is that losses aren't always not a bad thing that you should cry about, many traders become experts because they learn from their losses, experience provides the best knowledge because it provides actual solutions to your problems in trading, what is important is not to be sad because of losses

Patience to learn or patience when it comes to trading? If you are referring to patience when it comes to trading, I really do not see that as an attribute a trader should be having because you really do not need it. You may need it as a long term investor who is holding, but as long as you are a trader, you should always have a strategy, and it is that strategy you want to be executing, not patience.

So in this case, you are assuming you should not have a strategy when it comes to stopping loss, or when it comes to when you want to be selling. What will make you avoid losses as a trader is your knowledge and experience, and not patience bro.

One of the main reasons you need to learn it all before you even start trading at all. Some always think if they can just learn some form of technical analysis, then they are good. There are so many things that actually pertain to trading that a lot of people do not get to learn and in that case, they tend to flop a whole lot than they can imagine.

Trading is all about how you are able to build a strategy, know how to manage risk and your funds, and have the ability to trade with your strategy without having to put any emotion at any point in time. Just know what you are doing and keep building your confidence and you will be fine.

You know the main thing that makes you have the ability to control your emotions? That is knowledge! Trust me, there is absolutely no way you will be able to deal with emotion, if you are not even confident of your own capabilities and ability to make good trades.

Now, this is something that is always subject to your approach to trading most of the time, and for most people that tend to always approach trading without knowledge, strategy, and continuous practice and back testing before entering the real world, will always keep having problems.

There are so many things a trader must do to be successful. You just have this learn about them and know where you are standing. A trader must learn how to control his or her emotions. Don't allow free take over you.

Not only with the single step when you begin trading you may successful, but you also have faced many losses before you've learned in trading strategies. OP has been a good point on the post, but an experience to be a successful trader is a must and not relying on others hand work just like listening to others opinion. Of course, don't forget to choose reliable and having good reputation exchanges.

This looks like the titles that the guys who sell things on the internet


The only things people need is:

- knowledgeable

- Money can afford to lose

that is all.
 

Hmmm... what's this? Is some magic formula to get rich?

You took a very high risk by trying to trade a shit volatile coin in the first place, and you should just thank your stars that you got lucky because that is something that most of the time usually does not end well. Trading without emotion is not just about trading whatever you like or however you like and emotionlessly just hitting the market like you are gambling, there is no way you won't get emotional at the end when things start going awry.

However, when you have knowledge of what you are doing and a perfect strategy to execute your trade, over time, you will get confident in yourself and see that emotion is not even going to be a thing at all.

One more important thing is discipline. I just attended a seminar on how to invest good stock. All of them give an answer that is disciplined. We have to put ourselves in a mold and set the plan. Never invest without a strategy or plan. Because greed will make us fail.

True! I tend to think sometimes, a lot of people always never get to know that beforehand that losing is also part of trading and that is why you need to know that to be able to know how you can always manage the reward and the risk anytime you are trying to make a trade.

Like you said, with strategy, and TA, they are more or less like a guide to anticipate what the market is possibly going to bring, set a trade for yourself based on some price action and your strategy, and then know what you are looking at when it comes to setting stop loss, where you are picking your profit and where you are getting in.

Embracing losses is a mistake, learning from them and accepting they're inevitable is correct but you shouldn't pursue losses and they should still hurt. You need to minimize how often you lose and how much you do lose.

cheers for the insightful lessons and i find that very relevant for the intermediate trader

also its benefiticial to learn the high level concepts and tactical knowledge

https://www.altcoinsidekick.com/blog/thinking-in-threes

Yes, good trading principles, the main thing is not to fall into the excitement, clearly follow your daily or monthly plan, do not put everything on one asset!

You're correct mate, it made me remember the warren buffet phrase "don't put all eggs in one basket". That's a simple word was so simple yet deep to understand, because it states there that we need not to risk our asset in just only one investment. If we find another good coins in crypto then it can be a staggered tradings, which could really have huge potential profit gains.

I think the success depends on how well we can control ourselves and our emotions. Skills also matter but they are useless if panic or impatience take over. Additionally, the exchange you're using matters as well. And it's important to stick to reliable crypto websites with a good reputation and quality customer support. Like CEX or Coinbase. I prefer the exchange that supports cards and operates in many countries. CEX is good, you can buy not only major coins there, but also altcoins like BTG: (https://cex.io/btg-eur).

I really recommend the number four you are pointing to. That is the real deal when it comes to trade daily in crypto world. All are gambling when it comes to investment, it defends on us on how to gamble our money in such a way we can gain a profit from it or not.

all traders know that if we control greed fear and learn gain knowledge and many things trading will improve but doing all this and implementing takes lot of time some people will leave trading because they dont have patience in doing all these , people who do this things can become successful in trading   

Who embrace losses.  ;D I got my so many hugs by now.  ;D

I think it will a good thing if you can really forget all of it once you wake up in the morning but that is not always the case.
The tendency of getting back those losses the next day is higher than making a reset.

The thought of losing a number of dollars from the other day will be a nightmare that will keep on going back. There is no cure to it.

Well I slightly differ from this. Don’t lose intentionally. You can’t make yourself a good trader by losing intentionally and then thinking what are the measures to be taken. Be realistic and put every possible effort to make thing successful. When you lose in this way, you would get to know the potential of your work and how can you tackle these problems next time.

This is not easy to realize that you are walking on the wrong road until and unless you loose the money. Only then one can know that his decisions and choice to invest in coins had been wrong.

This is the reason why it is always advised to have enough knowledge before making a decision that absorbed your income. One should invest only in the kind of asset or coin that gives prominent returns and has had a good history. These trading tips can be very helpful if followed.

Normally, there is no one on earth that will want to be deliberately losing as that would be uncalled for actually. The reason a lot of people tend to lose most of the time is because they are doing things they are not supposed to be doing in the first place and the most of it is not to ever trade without the knowledge and skill of how to trade.

It is pretty amazing the way people approach trading in a way like they can just blend in, learn from their mistakes and get better. Mistakes will happen even after learning, but without knowing the basics, building a strategy with those basics, and then keep learning as much as you can, you won't be learning from your mistakes, you will be failing woefully over and over again with your mistakes until you get frustrated.

Thank you for information.

I have already seen some of these in every trading tutorial and every person in that tutorial is always saying that thing but none of that to be followed by other people.

The crypto market is not easy and if you are not confident about the volatility of this market, you should avoid it. Every investor should be equipped with strategies to make a profit in such uncertain situations. You will be successful.

How I wish we accept the foregoing truth and trimmed our trading activities along that line. What op listed were those things we actually need to do in other to become a successful trader. Most of us did not know that loses is part of trading and when we lose we abandon trading. Remember that without loses there will be no trading therefore, loses allow fund to circulate in the market. Used to loses and you will learn to master trade.

A man who's fond of knowledge is wiser than the rest that who doesn't posses the definite knowledge in investment and trading. That's why it is recommendable to learn the basics before attacking into the war of traders. Some newbies aren't fond of learning that's why they have to learn it in a hard way.

True! That idea of coming to terms with reality and understanding that trading is not ABC or some child’s play you can just dabble into for fun or with a nonchalant attitude, will make anyone who wants to trade to realize the importance of trying as much as possible to learn so that they do not end up screwing up before they even start.

Trading can be promising and very profiting if you know how to do it right, and if you are to do right, skipping learning is one first big mistake in approaching it the wrong way.

Proper Market Research
Patience
Emotion Control
Follow Crypto News and Updates

According to me above four things are important

In trading, the main thing is to choose the right digital assets with a friendly community, with real products and periodically fix the profit

I follow these rules:
1.Have a Passion For the Process
2. You Must Accept a Tedium of Work in Your Learning Process
3. Frustration Often Times is a Sign of Progress
4. You and Your Environment Imprint Upon You
5. Do Not Expect Immediate Results
6. Do Not Look For an Easy Way Out

Knowing where you fell is important because you will have a reference and you can avoid that from happening again. Same with trading, keep notes of every activity that you have, that way you have something to look back, read and learn and most specially share to the new ones.


No one will claim that they are an expert trader. What they can claim is that they have experienced too many loses in their trading life that they can happily share it to anyone who needs an advise but still they will not claim that re good at it, they are just sharing their views and experience.

1 - research
2- buy low
3- patience
4- sell high
Canya coin CAN will make you rich$$$

I really like the final idea. We invest in the market so that the loss problem greatly affect the investment psychology. Maybe that is the biggest weakness of the trader. We forget that flat markets can not create opportunities. Taking the hole to turn it up is better than the success of a trader. I also believe so. Thanks for your sharing!

I have ready this earlier that people think if they would lose intentionally to get a better picture of trade it would be best for them. For me, it is not. How can you lose intentionally to just check the loopholes you have in your trade? This might have some positive points but most of the cases, it would destroy your earlier investments.

Learn ,practice, discipline,discipline

That is no doubt a good observation about what a trader do to make value should. More important among them is the loss management because it helps sustain the already existing assets.

newbie will be behind strategy all the time but they should be learning about money management , psychology  and discipline also if they want to earn regular profits

and being positive is the one who make you success so even the price was will drop you should be positive in what situation if you want to overcome it

Agree, Especially with number 4, all of must know how to accept loses because not all the time we can win in every challenges in life. We must know how to accept failures and loses in life so that we can grow and learn from our mistakes, loses and failures and for is to become better and most important is to improve our knowledge and skills.

 I think you should have the best strategy depending on the altcoin you invest. If you want to make big profits, you have to have big capital to make the most profit in the day. I think you should focus on investing in top altcoin on  great coinmarketcap for day trading. The market is going down so do not choose to invest in altcoin with small oscillation fluctuations, hard to earn big profits.

Yes, sure, you need all the things that you have enumerated here. That is why it is not easy (and almost impossible) to become rich in the world of crypto. You have to work much to get the expected profit.

Success in the cryptocurrency requires you to have good knowledge and experience. Then all these methods to reduce loss and raise profit will be used simultaneously and it helps guide others as well.

This is not complete without the "plan your trade and trade your plan". Once you enter a trade you know when to exit. But I agree in all points mentioned. To summary it is:

*Risk management
*Maximizing strengths
* Trading Journal

if we want to succeed in trading we must be able to control our emotions first and then make a trading plan, being good at finding opportunities and being patient is the key. emotions and panic will only plunge us into losses, so don't ever do it if you want to succeed.

good tips, I will accept every defeat I experience and make it a lesson to be better.
because I lost a lot in the past few months and haven't thought about re-entering, but still standby if a good opportunity will arise. :)

Exactly but trading is not so easy and one cannot make money all the time by trading. In addition, when the market is down, it should be stopped to stay safe. Though these tips are very nice, yet one needs to take steps by looking at the market.

And I say learn, practice, control over emotions and strong mindset. These four traits would let a strong trader comes out of someone. Then dealing with diff coins at diff moments would be easier.

Experience is a good teacher, we learn a lot from previous days and bring it as a guide to be successful in the future. Even though we aren't perfectly mold with that but its a big help for us individually to create a perfect future. We just believe our self and make way to have a wise decision.

You should not even be stopping when only the market is down; you should have a particular point in the market that you would want to at least be making sure you have your stop loss active. The same way you are anticipating for the market to move up when it comes to trading is the same way you should be anticipating for the market to go against your plan and be ready for it.

If you are never ready for something, the chances of flopping and letting your emotions play the best part of you will always be there. When you approach the market, just make sure you always have a good plan and stick to it, and then, you will be successful.

Successful traders learned from there loses and improved on them. If you can not control your loses and manage it until you start to make profits you will not become successful.  Professionals traders are those that has gaining experience in both stocks,  commodities and forex trading and transfer the same knowledge,  understand and skills to cryptocurrencies market.  You  must know how to analyze the market through fundamentals and technicals analysis and How to manage lose in a most profitable ways. You Emotions actually do contribute significantly to how you trade professionally and that is why we need to develop patience and positive mindset as a trader.

Your hint is great and i find it helpful in my future trades. Hope i can follow some of the steps properly and be successful in trading life.

Number 4 is also very important. because that will affect your emotions and if you have lost control then you will make a stupid choice without looking at the analysis first. you will easily panic and sell even if it's a loss. if you have lost then let it happen. don't think about it anymore. because it will affect your mentality and influence your choices in trading

Number 5

A trader is not just a person who trade something and trade is not a part-time or full-time job. Trade is a way of life that also need hard work and very very strong mental capability. Especially patience.

Emotions and braking apart will end up with losses the fact is what is happening currently in the market in the dropped prices of bitcoin and other altcoins. We are down in every market in the world and crypto is no exception. Whether this was manipulated or not no body knows since its unregulated but its surely the time to buy because Black Friday is over and now we are going to see an uptrend in the next few weeks followed by more dumping by the time of new year.

Maybe you should work on your crypto knowledge so you can actually put in some good content and not shitpost to get paid.

and always having faith that is the only key to succeed because having faith is good for us we always positive,calm. just believe and trust to our self to reach that goal

and always having faith that is the only key to succeed because having faith is good for us we always positive,calm. just believe and trust to our self to reach that goal

There is no best teacher than mistakes. They will always be getting you remember that here you made a wrong decision in this scenario and same scenario is here, don’t do this again.

No doubt, all of these things are very important. A real trader should control his emotions and forget the word "panic". Meanwhile, you will never have any success if you do not learn about the crypto every day.

That is not bad advice especially your third point, people need a trading journal, if you do not keep very detailed records about what you are doing in the markets how are you going to improve? Most people do not keep a trading journal and they never improve and they keep losing money to the markets until they have nothing left, I am not an expert trader by any means but I have a trading journal and I can see my improvement with each trade.

Im agree with you, some people are sometimes greedy in taking profits and opportunities so that, when their funds have gone too deep, inevitably there are only 2 choices, sell or HOLD to recover even though they don't know when that will happen. in trading there is always profit and loss. so, certainly not everyone experiences a condition that is the same at one time.

These are great rules. Very important in my opinion, but many investors neglect it. For example, I never keep a log of transactions in trade, and this is wrong.

Mostly I like your post but I think you need to complete your post with your experience, are you already do that and how the result?. Many information about trading and investing already exist and many people try with different result. Not to complaint but start with how to find the best product ( coin, currency ) and recovery asset also important.

faith will help you when there are many FUDs circulating outside and there are many people who are affected and then lose because they believe too much in other people's speculations, you need to believe in yourself. isn't that a function of you studying at trade? so you can do your own analysis

It is true that one of the best ways to learn is from mistakes but no one ever told me that I need to make the mistakes myself to learn from them, look at the forum it is full of people trying strategies that could not work and they should have know it from the beginning, the only thing you need to do is to read them attentively, take notes and avoid making the same mistakes.

of course, because of the great panic and emotion that will not be able to make our work run smoothly, especially to do the trade, do not ever use emotions and never also feel panic when the market decreases

Trading is about how good our trading skills and our knowledge about trading of cryptocurrencies. It is true that the trading of cryptocurrencies is very risky investment,  but you can double your investment through the use of your strategies and knowledge.

You should also keep track of all your trades along with the price at which you are buying or selling and then compile them on excel sheets. Add in the market cap and the fiat equivalent of your assets to that and you should be able to get a proper idea of how much profit or loss you are having with time. However its not going to be a good idea to let your emotions make you feel bad when you are looking at it from the bear market perspective so you have deal with that.

Well the ones who do get so emotional are the ones who are having a bad fundamental background of crypto. Majority of wannabe people get into it as a get-rich-quick scheme and this ends up in losses because they shit their pants.

Those are quite some helpful tips for traders. Anyone who wants to be a successful trader must learn to keep their emotions separate from their trading, if not you’re definitely going to get everything ruined. Another practice you should take is making sure that you put stop loss for every trade so that you don’t leave everything you have put into a trade. Lastly, always have a trading plan and adhere to those plans.

Each traders should learn how to trade without emotions. Learn to know when to sell off and when to buy. Don't fall in love to much with a particular token. Trade also using TA and SA

Panic is a reasonable expression, there are things that can be accepted and not. who cannot be brutally panic and eliminate market logic. this is uncontrolled emotion. Cut loss is also part of panic, securing your assets is part of panic.

all parts of panic that you mentioned above are also under the emotion category  because you cannot possibly panic if you are a robot that doesnt have any emotions . so what i mean to say is that we shouldnt forget our emotion as it is still verry important to think and act properly  when compared to bots/robots  because they are only programmed by a human  .  i also believe that there isnt any succesful trader in cryptocurrency because the price of cryptos arent stable which means all of us can still loose more than what we earn  . 

a real success is able to achieve steady/stable results with minimal to no looses at all  and that isnt really possible on the case of cryptos  .

One more if allowed to say : put your daily target, if you has reach it, put off all your instrument of trading, read more reference for your next day strategy.
Remember, your greedy things will defeat you if you not well maintained it!
It's easy to say, in fact, greed still often beats me, :(
God bless us folks.

Its a good advice but all of that is too common and some people don't know how to implement it, all of us know tgat we need to control ourselves vut sometimes when we found a good opportunity to make money with limited time then we are going to rush the decision, many people also said buy low sell high but the implementation is not that simple, there are numerous factors to consider, trading need experience and and we need to keep on learning and try new things, dont afraid to fail as long as you learn to do better next time

Keep in mind that controlling losses is way different from cutting your losses. Controlling losses or stop losses is your most likely back up plan when your trade didn't go as plan or where prices that you think should go up instead it goes down. In cutting losses you are selling the asset when you have incurred extremely big losses which is more than -10%. Controlling losses is something more of a planned loss where you really want to protect your capital in order for it worthy for your another trade plan.

I think this is only limited to motivation for trading because the details for trading are more difficult than that. for a trader must be sensitive to changes in market trends, patient, not greedy and also able to make the right decisions in all market conditions

Its not possible for humans to do that. Its tough for those who are having a strong mindset but can be done if you are practicing enough. Weak hearted people are not going to get any place here.

You can never teach them that. Everyone more commonly and accidentally buy at the pump. Either they are willing to join the bandwagon to get fomoed or they were told by some "analyst" (read, Shill pumping youtuber).

TA wont give you the point to sell or buy. That you have to decide. Do lean to much on TA because sideways movement is often going to happen in the sort term.

I thinks this is the four things must do to be successfull-
1. The trader have to active 75% in a day
2. Always read the website of the altcoin you want to buy.
3. Everday visit their social media page.
4. And also knowing the market condition is more important.

Nice advice for all crypto traders that willing to learn and to earn daily but they can't stop the experiencing the bull run of the market so get lossing that they funded in the market.

dont be greedy, trade more, read more. know more.

These 2 things are the way for the traders to become successful someday. By trading each day, we can improve our trading skills and we will get many experiences. As a trader, I always accept my losses and I uses the past mistake that I did for me to become more better trader.

Interesting advices, I think I should to read more materials from this Dr. Brett Steenbarger.
I didn't hear about him before.

Exactly traders didn't accept weakness they want always positive  in their strengths
But if they realize need to accept the weakness to reform all mistakes decision

Same with mine too.Even if i made a lot of mistakes and losses in trading,i don't have reasons to give up.Instead,i have learned from them and have developed my skills in trading.Losing is just normal in trading because not all the time you can expect profits.There are times too that you will end up losing in trading.

Is this applicable for crypto trading also?as i think this trading attitude is not belongs for this volatike market or i maybe wrong so i stand to be corrected.
But i will try to apply this once i return trading from a long stop for almost a year now
The advices are great but i think i need to read the whole link for better outcome as this is a serious matter if we really wanna become a good trader

Thats right, emotional feelings are a common thing experienced by humans, but good traders who can resist their emotions so as not
to influence their calculations, analysis and choices..

Well most of the do understand their mistakes but in the market where predicting the price comes to be based on manipulation and social buzz its sometimes tough to know when to buy or sell. Those who dont rectify their method when they make mistakes dont run too long because they would keep losing money trying to make good profits.

But honestly speaking its a bit of a gamble when its something like crypto - because the level of panic associated with it is huge and people cant keep their trigger happy fingers under control.

Even on traditional investments like Forex and stocks where manipulation and problem of emotion would really be still present no matter what. This is really just like a gamble if we don't know on how to handle ourselves into this field. Mistakes cant be avoided but somehow can really be lessen depending on how we do handle it. Being successful cant be achieve if we wont able to experience lots of mistakes.

As you’re minimizing your weakness, you’re as well maximizing your strength. And it’s always good for traders to always keep records of their trades.Your post is a good one and I will also like to add that newbies should know the relationship between risk and reward, if you don’t take risk there will be no reward for you.

However if you are analysing the market for a long time you will get an idea of the trend. Like for bitcoin there has been a gradual rise in adoption and due to the fact that its the biggest of all other crypto we can be sure that in future altcoins will be manipulated by rise and fall of bitcoin. Seeing the obvious growth and development of bitcoin one can decide to invest in it but when to invest is the bigger question.

Sometimes not jumping in when other are jumping in is a good choice. Holding back to attack the market when people are least suspecting it often works. Mistakes will be made but there is no use having regret on those.

I will agree with the rules of the author, but want to add that if you want to earn on it. You should invest a lot of your time and money. Only after these losses, you will have an oppurtunity to make profit!

Yes, trading experience is very important. Sometimes you look at the BTC chart (for example), and indicators says "buy", but something inside you tells you to sell. You listen to this inner voice and in some surprising way it turns out to be right.

Right.There's no magic in trading and everything will be learned in a long period of time.You should have to endure even lot of hardships and sleepless nights,and of course enough amount of money so that in return you can also gain good amount of profits.

I agree about keeping a journal. It will help trader to view his strengths and weaknesses, analyze it and be an experience trader in the future. Day by day, the trader will continue to improve until such time that every time he will trade, he will make the right decisiob on every event which can only be gain by experience and knowledge.

absolutely right, if we are not greedy in trade then we will not fall into an empty hope.
because our desire for profit can be a lot of missteps and we don't want to receive a little profit, so we can learn about the fall of the previous players who always crave a lot of profits without seeing the potential losses that can occur,
the key is to trade by prioritizing the situation that is happening and we always react quickly.

Agree, because if you don't have a lot of free time then you won't be able to have a lot of time to monitor, analyze, and so on.
because in daytrade you look for opportunities in your monitor time, and that takes all day

Right it’s good to buy more and more coins at dropping price because if you will buy its the only way to make money with dropping price in bitcoin. After buying make the next step to hold it and let it increase by itself. Think positive as a positive mind makes more money than an active but a worries mind just buy and wait for it to rise after dropping.

Trading as an art doesn't exactly have a set of rules that govern it. What works for me might absolutely ruin another person. The problem most people have is that they often see trading as mainstream gambling. With this mentality, they will definitely be out of funds in no time at all. Trading involves learning from others and your own personal experience, to put it simply, traders must be patient.

Finally, I'll like to say that those who are largely emotional and very greedy need to work on those two characteristics before venturing into trading.

I need to go with you about this one, trading with crypto doesn't have some set of rules. It's a new ground for many people. I'm talking about that for some time, patience is for long term traders, and I support that, price rise if you wait long enough, bitcoin price never disappointed us in last 10 years.
For trading you need to know how to follow the market when you learn how to do that you start with trading, no other way around.

I see lot of traders get loss on their money even they use lot's of strategies doesn't work for them. So its better to take a advantage with those mistakes.

As you mentioned about the journal, I have observed that experienced investors set some rules for them and they never ever act beyond those rules even if the situation is in their favour. Trading is all about discipline and implementing the lessons learned in past trades. As it is said, the experience is the best teacher but not everyone can afford the lessons learnt from it. One should always try to inculcate the habit of discipline in his behaviour while trading.

that's why sometimes traders must have a decision to cut loss with the aim of minimizing losses and having a cut-off target, for example, if the loss is 20%, then it must be cut loss. any decision that we have taken should not be regretted, we can buy again at a lower price if the price still falls.
prepare your capital and mental if you want to become a true trader.

Time only helps us to learn more related trading and it’s good to spend more time in market so that you will learn good things about trading. For me to enjoy trading profit we need three basic things. Buy some coins at low price, use your patience to hold it longer and use your mind to trade at right time at high price.

Yes some of the good tricks will definitely be followed by all of us because they are the universal strategies to follow by anyone but instead of four steps there are lot of tricks that to be followed for the good profit it will not be featured by anyone we will be the teacher and the trainee also without experience nothing will be given from anyone.

So traders must be on the look out for their trades. Nobody could say when it goes down as it can't be predicted, setting on the minimum first would be a kind of help but not we should be practice everyday. It is really hard for non full time trader and I'm afraid they could just lost in any minute.

See there are traders who realize their mistakes and there are traders who continue to make those mistakes. It often leads to continuous losses one after the other as the person becomes stubborn and fails to rectify them. Hopefully they will and soon change their methods. Its important to be dynamic in being a trader.

Not every asset will give you good returns everyday so something a bit of off-period and putting time to other things helps them cope up with the boredom which I feel is often the cause of anxiety and leads to mistakes in placing orders.

Another couple of things (which might be quite enough for success)

• Do not trade on your own money  ;D
• Use stop-orders

Information is good because they can apply for sure while in their trading. In trading you do not need to learn more the important with is you know what you are doing by simple buying and selling is good start. And you can add your little knowledge about by doing sesrching and you can grow for sure. Keep reading and learning is still to do while in trading. Like me I still learning to become more succesful in trading.

I also want to a few important things
1- strong mental health and stress management
2-Self education
3-Open-minded
4-You also have to use new technology especially when you are trading at the crypto. Even big economist cannot understand BTC because they can not understand blockchain technology and they avoid to trade BTC because they think that BTC is fundamentally weak.

Nice joke, but if you are being an troll,  its a poor attempt. People have to put in their money to trade because in general it is risky. The alternative of taking other people's money whether legally or illegally are both the mentally of a broke trader. Margin trading and futures trading may be worth doing with money taken on a loan but thats only for the experts.

Thats pretty general. Its depends on how and what a person's objective is when placing the order. If they want to buy a certain amount of bitcoin at a certain price hit then they will use it.

I really liked this ;D
Traders are the ones who use most of their brains i think and also it is not thay easy task. Traders will always have an important place in this entire universe. I do firmly respect each trader.
I would surely like to go through the article you mentioned.
Traders should always consider a number of rules before they go into it to make good profits. Also the profits should be treated much cautiously as excess anxiety can make you loose your funds.

Couple of points - Firstly if you have extra wealth they can take risk in this trading else only trade with limited capital as you should not be depended on this money just in case you lose in trading . Secondly do not get too greedy when you make money . Keep taking out profits .

Also trade in such a way that it does not effect mentally and physically on your health and of your family .

Losing in trading is a sign that we should improve something. If we have a lot of information, I am sure that we can easily handle the risks that we are taking. Gaining experience is important for us to know the strategies that we should do in every situations.

Exactly, a trader needs to be efficient in order to analyse the charts and start predicting them in a positive direction. Money management is also one of the factors to control our assets by managing them to invest in the right coin for making profits.

Mistakes are the best teacher we never know what we are doing until we make mistakes and face the consequences so if someone learned after many failure never going to suffer again doing that same thing once they got succeed and crypto trading also may fi in this.Gain experience while learning new things related to trading to be more successful.

There are many ways for us to become a successful traders pal. Here try to do some research about this  https://www.investopedia.com/university/tradingsystems/ also find out the Things to avoid Trading Mistakes?
https://www.cryptocointrade.com/education/avoid-cryptocurrency-trading-mistakes/
good luck and have a good day :)

You may have a point of reason as stated in the above. So we have a saying that " We learn from our mistakes that are accomplished "
With these bad experienced we had before, we used it as a best tool for us to make ourselves be improve more in the future. Then in every mistakes, We stand strong and became more determine to achieve our main goal target.

All is true and correct. A trader should strengthen his brain including being smart, focus and mentally ready for any circumstances that are comming. The following like emotional strength comes second. Trader should use 100% of the brain. The heart is just optional so he can decide well and not depend on just guts.

I would suggest you to take everything with a grain of salt. Just knowing a few facts and methods wont make you an accomplished trader. What you need is study of 4-5 year long charts and analysis of the same for a few months along with the technical analaysis if you are willing to do day trading and futures trading.

The toughest part is the acceptance of the mistake and then recitfying it so it does not happen again. Most of the people fail in doing so and repeat same mistakes. Like for example they tell themselves to buy at the low but then get overhyped when something is going up and then again buy being FOMO.

Those who will actually realize their mistakes in time will be able to keep control over their losses. ;)

Never take a loan to trade crypto. Golden rule :)
It will always something go wrong.

This will be a big help for a trader. But to tell you honestly, for someone like me who are not fond of writing a journal, bookmarking websites really works great for me. Nowadays, we are more engaged in technology and we always hold or smartphones whenever we go.
Also, another tip is to Trade only what you can afford to lose. With this, we can minimize any emotions with our losses.

Agreed, it is really golden advice never take a loan to others. I tell to my friends if you take loan, you will be lose you respect in the eyes of the people.
But about the thread, he is really telling us good suggestions, Actually in trading we learn in every step of trade.

1 thing trader should know most and not included on your list. And it is Do Your Own Research(DYOR). It is the most effective one I'm telling you. Let's say you know how to do Technical Analysis, it doesn't apply that you can win all trades. What if you TA a coin and you can see some sign that it will breakout, then there is a news saying that it does fraudulent activities. Then that's your lost.

Exactly emotions is one of the main things that need to be control if we want to be a successful trader. With that we also need to have enough patience. Then we will become a expert trader in crypto market.

Tips from me: Never use All In for your money because it is too risky, you cannot buy another amount if the price is getting down so you will lose the opportunity to get a low price. Always split your order buy into a few parts so you can get the lower price and that will make your average buy price will reduce. That will helps you to get the most profit if the price jumps to the highest price.

I am new to trading, and I just started a month ago. And even though it was just a month, I already learned a lot (especially about myself  :D)

I thought trading is easy, that you can earn a lot money in instant. So I just deposit on my account and without any knowledge, I do trading (without using indicators, and so much more). And then boom! I lose all my money in just a minute. That when I learn that your emotion is your greatest enemy in trading. Use your brain not your emotions in trading. I've learn that emotion can slave you, and it can lead to wrong decisions.

Few useful tips to know and yes good to see traders share their ideas to the newbies. A good initiative and yes a good support to the community members. I have learnt a lot from trading especially the patience. I learnt that if you have invested in a good coin and its value is falling down, do not panic, the moment would certainly come when you will see a good growth to your coin. Patience is the key to eradicate loses and a step towards success.

Do we still have successful traders as we speak definitely we might, in my speech is due to some have just went out of the market if am not mistaking. Because as at when market was really bad lots of traders dropped. By the way and now it's picking up and we might see some coming back to trade I guess that doesn't make one a successful trader and at the process he or she might have forgotten some techniques to tackle the market

I think the most important quality that everyone should definitely have is should be stay with your confident that you have to done your job till the end this is the thing that you want to make it success when you execute this type of things in your trading experience you will be definitely get the good profit with a next way of confident.

Correct.That will drive the positivity being a trader if you will stay confident, you have to be realistic at the same time because confident alone is useless if you do not have the skills or talent to be able to make you a good trader.Trading skills can be achieve overtime, it's not an overnight success that other people think, you will go through a lot of trials until you become successful being a trader.

I use to have a journal where I write my mistakes in trading so it will be a reminder for me on what not to do next time I trade. Another use of my journal is I put a not on why I don't buy this Token or what is the price of the coin when I buy or sell them. Sometimes emotions takes over our decision making but keeping notes will help you decide as well before you hit that buy or sell button.

Patience can save us from serious losses but it is not the only way to save ourselves when we call ourselves as traders we need to know what we have to do when the market is bearish rather than simply holding it.

I totally agree with all of this, as a trader you must not really sulk down for your losses, what you might have lost today, you can still make it up next time. Keep trying and going, take all your bad experiences and mistakes as an opportunity to gain knowledge and experience.

1. Study about markets: cycles and why market prices fluctuate.
2. Study about Technical Analysis. It is not an exact science but it will improve your accuracy.
3. Remove emotion from your trading decisions.
4. "Cut losses quick and let your winners run" - Jesse Livermore

if in my opinion 4 things that must be owned by a trader and investor to be successful quickly must have a great sense of patience, not greed, not panic too and must be sure of what we do to be good for the future

Successful traders often do things that set them apart from the rest of the crowd. A successful trader mindset is always behind these people, and this is something we can build. Below are some of the steps needed to start your journey in becoming a successful trader.
1. Have a passion for the process and remember that failure is all part of all successful ventures.
2. Do Not Expect Immediate Results. Make a resolution to learn. Set goals, do your research, seek guidance, and evaluate your progress.
3. Cultivate good habits and banish bad habits.
4. Start trading. You've learned the basics, it's time to get out from your comfort zone and expose yourself in the world of trading inorder to grow knowledge and develop skills.

These are very informative and helpful tips. Some of the things that I considered would be building a strong foundation of knowledge and knowing your clear goals as trader. Education and understanding are at the heart of every success. Document every success and failure and learn from them- gain wisdom. Develop your patience and learn to control your emotions. By staying connected to your goals you’ll create an inner fire and passion for the process that will make you an effective trader for life.

The key for long lasting success and happiness: a deep passion and connection to what you are doing.

What you have said is indeed the best and simplest approach into minimizing risk and a good strategy to make more profit,  as we continue to trade, there is need for us to understand that market will not always go same direction and in preparation for this, we have to take advantage of both sides by following your advice, first we have to endeavor to commit funds that will not put us under pressure for anything, and secondly, whatever fund that we have decided to use as trade, we need to split them and not out everything at ones into the trading since we already understand that the market fluctuates a lot.

It is very good that you are a realist. Great that you understand your mistakes: it means that soon, you will stop making them. Finally, you will become a skillful successful trader.

From a bad start, if you will continue realizing those mistkaes and create a good plan to work it out and avoid doing the same, it's a good way to understand and assess your capabilities, if you are open for more changes in your style, you will be able to adjust and make a good outcome after,
try to build your confidence learning to read patterned that will guide you.

Make this as a good basis before placing again another entry, it will helps you to be very patience observing around the exchange.

I think in trading there won't be any easy way to make money because we shouldn't consider it as easy. After many failure and experience will help us to make some decent profit with a lot of dedication and patience.

I think as a trader, I don't think you are afraid to see market prices fall, for me you can still be patient and keep up the spirit of waiting for a better price increase in the next few moments. So you will also still make a profit.

well, tips and good motivation. maybe we also need to add to hold emotions, and be patient in trading. we know that there will be volatility in this case, and make us feel loss when the price drops. therefore patience is really needed.

Real traders love falling prices, they can make profit in any market and thrive off volatility.  I suspect very few people on this forum are successful day traders or those that are remain quiet about their strategies.  I wouldn't expect them to give out their secrets and hard work only to get more competition. 

 Most trader's has came from failure, maybe because of lack of knowledge and skills that may become mistake. But what make people encourage to trade is to learn from mistakes and comply the wisdom to be more skillful on every deliberation we create on trading. Thus, only ourselves can mangae the possible outcome and in order not to get loses, hold the emotions that attached you to act more aggressive.

Yes, with trading users should not get afraid about the market fluctuations. As a trader whether the market is bear market or bullish it is a must to make use of the price fluctuation happening with time. With every trade there is a possibility for a loss as well profiting, it is upon the prediction that coincide with the reality.

There are actually 3 main "things" that a trader must master in order to be successful. One is technical analysis which is that secret sauce that gives you an edge. Second they need to have proper risk management and finally third they need to master their mental game. They need to know how to manage emotions. That includes both bad and good feelings.

I agree everything, when you are being and later you need to be follow some Strategies and rules that will useful for you to getting easier income without any trouble so I think these strategies will very useful for every investor and trader to get the profit without any problem in their beginning stage

This is what all traders should know that if they will not work with greed and control it, if they will gain knowledge as much as they can, it is very important to have trading knowledge so it takes time to learn everyone will have to keep patience as trading is really profit worthy investment better don’t lose the chance and trade well.

That's the function of trying, you know that you are someone who uses emotions in making choices, and you have gained experience
for that, it is one of the things that every trader must have, using their mistakes as lessons and experiences.

we cant deny the fact that most of us are still afraid when the market falls its because money is at risk here  . we value our money because money is not easy to earn nowadays   but to some traders are already used to it.  there are aware that the ups and downs were only normal and part of the game  . once the market drops , they can still recover thier capital as long as their wait and hodl  .



huh ? but  how can you trade if you dont have a money  ?  you mean using someones money ( e.g money of your mother , or of your friend ? ) thats a no good idea  meyt .

Resisting emotions and maintaining patience are the main keys to being able to make a decision properly and correctly. As a Trader, they must be able to place momentum and good decisions, without this, a trader can never get good momentum. Patience and emotional control are things that cannot be separated from a trader to achieve success.

These tips are rather superficial, I believe that it is necessary to spend a lot of time to at least begin to understand the behavior of digital assets, each cryptocurrency is individual and it is impossible to accurately guess the price movement

No matter how good trader you are, no one can guess the prices of altcoins and bitcoins accurately. Since crytpo currency is very volatile, it is very hard to achieve accuracy specially when the price movements are not only dependent upon technical analysis but also depends upon news and fundamental Analysis.

It all depends on the pattern of trade they chose to get engaged in, if its ordinary without the involvement of margin trade or leverage, they would have any issue with market price falling, it will be like normal investors holding their coin in anticipation for a full blown profit.

The only people that find it very easy and happy to see a price fall are strictly investors, especially the ones that are yet to invest or ones that are not done investing, but above all, like you said, we still need to keep the spirit high has both traders and investors for a very bright future that cryptocurrency is capable of bringing.

Very well said, these 4 things could really give motivation and giving an idea to traders especially those people who are new to this venture on how to become a successful trader in the near future. But traders should not only focus on this things as there are still many things that they need to consider on dealing with it.

No one can do it even if they are good at technical analysis,predictions are just for the hope that it will become possible but a successful trader need to minimize the losses even if they are in bearish mode.

I think this is a major reason why I read it in Jesse Livermore's books, where it emphasizes that losses must stop and profits must be lengthened, most operators do the opposite, losses lengthen them and losses cut them, This is very bad, but it is what most of them tend to teach, they hope to raise a loss and not to cut it off so that the loss does not continue to generate more havoc.

I think that in some way everything must be focused in the right way, it is a hard paradigm to break.

Sometimes even those rules that is, I want to break you do it. Once again when you deviate from the strategy basically you lose money.
The person who clearly follows the rules and rules of the system in most cases a successful trader. A good trader should not have emotions he should trade like a robot.

Lose and mistake is great combination to recorrect it trader learn it where he/she got lose because of mistake, mistake is the best lesson guide from the people want to learn and got success.

Every traders must learn from their mistake. Just a little percent of them who not do it. Like me  ;D, i know i always panic. But until now i can't get out from that feel every market get down and i loss my assets.

No trader can accurately guess the prices of cryptos and that is why it is impossible to always get 100% profit on one’s trade, but as a day trader, technical analysis will go a long way in deciding for such trader, most day traders uses charts to determine the best spot to trade.

I think most of the traders I have seen who are day trader have successfully rely more on technical analysis, because they don’t even have much time to listen to news, because news takes a lot of research too and timing, if you completely mix both, you might end up not trading anything, technical analysis too is not that easy to study, it also takes time too and by the time you take another time to study fundamental analysis you will realize that time is already getting shifted.

If s/he can understand why s/he did wrong, it can be a good lesson, and prevents future losses. Indeed, losses should be seen as more earnings in the future. Like a game where you pass the levels.

Yes. I still believe that above all, experience still matters the most. Even if you don't have great knowledge in trading but you keep on experiencing trading with its losses and winnings, you still learn the most from the lessons it brings and the longer years you keep on experiencing trading, the better trader you will be in the future.

The ability of a trader will be tested when he decides to make important decisions, there are many things that must be considered for a trader. Mathematically, a Trader must always pay attention to the market situation, this is because the condition of the crypto market often makes a surprise so that a Trader is required to make decisions quickly. This cannot be avoided because without the ability to read a good market situation, a trader will never succeed in making the right decisions and benefiting him.

A trader can do a good analysis and can adjust to this past changing momentum due to fluctuations if he have the confidence, if a trader have a good understanding and skills to follow the market trend and observe how he can take advantage of the situations he then can successfully choose directions
to stand on, not everyone can do this as emotions always take place, but for a good and skilled traders, they will proceed without any emotion inside
of them to make sure that there's no struggles to bothered them along.

You are right. The experience does not make you lose even if in real situations, you indeed lose the money. But if you can learn from the losses and you still try to rise from those losses, I am sure that the losses will give you the best lesson which you don't realize before. And from experience, you can back to make a profit, and moreover, you can cover the loses.

At least you acknowledge your mistake. It is the first step in correcting which is identifying the topic where you are weak and then you need to work on that in order to improve. To prevent panic from happening invest in those coins that you are confident about in terms of future gains. Remember that every altcoin creator out there is after your precious bitcoins and in no matter what circumstance you fall in the amount that you give to their coins should be minimum and cashed out to bitcoin as soon as you get some gains in price.

These are not to be held for long term rather cash and dash is what should be in your mind.

Learning from the mistakes that we have done is the best thing that a trader can do in order to become successful in the future because it will become his basis for his future trading decisions because he will identify the errors and correct them accordingly and it will result for create a newer and more effective trading strategy.

it’s vital to analyze market all time, find respectable researches

Oh there are a lot of them, lately I began to use reports of velvet exchange trading platform or same old binance for instance :)

link?

probably you are right keeping the simple things always in our mind is more important than anything because they will be the most helpful for you to get the success and your points is also like this to make the success everyone need to follow this.

I hope you are aware of binance existence, moving to velvet, here u go https://velvet.exchange/#/

In order to notice the best occasions for buying and selling a trader must be very focused on what he is doing, so focus is one of the most required skills for a trader. Of course this skill could be trained overtime but essentially if you are a sloppy person it will be hard for you to become a good trader, at least the beginning will seem extremely hard.

Trading is very important for controlling emotions. patience is a key one in trading.
easy to say but in practice it is very difficult. but eventually it will become commonplace.

One of the many ways the Big traders make money is by buying coins, stock etc when a rumour comes out that something really good or really big is going to happen. People often FOMO in to the coin and push up the price. If the big boys know the news they wait until a few hours before the news comes out and sell to those FOMOing in and they can make anywhere from 3% to several 100%. They buy when the rumour starts and sell as everyone panics in.

With your proper observations and dedications to learned more inside this industry, eventually, you'll be able to adopt the atmosphere of the entire market, giving you enough edge to assess and analyze each pairs that you are eyeing for, people who have good mental awareness can easily adopt from this changing pace from time to time, moving on or play safe, patiently waiting or need to cut loses and make another entry to try to recover back.

Such things needs to be considered and learned while your interest still inside this market, find more knowledge and don't stuck yourself with what you already have now.

Yes but that not what most people do. Majority fail to understand their mistake and they act stubborn and think their mistakes are not mistakes and keep on ignoring them. While this leads to more losses or bad moves, they will blame it on other things like they moved on the wrong coin or that market went sideways. These may be true but being human we all tend to brush aside our mistake if any in any procedure.

You cant analyse at all times unless you are day trading. The word "respectable" is a bit controversial here. Many such research is paid news and doing your own research is what is the gold standard.

I think the list is not that good enough for a trader to be successful. Why? It just focuses on 1 thing, embracing every loss in trading. That's it. Nothing more, nothing less. And that "thing" to be look upon is too common for you to be a successful trader in the making.

I think we are talking about trading right? but even day trading does not mean you have to monitor the market and do analysis throughout the day, of course you need a break and that is important for a trader, stress is very vulnerable to traders, so I think you should have a plan about resting too

Break will go in our favor if we learn something in it, I know the monitor of the market is good, price is gradually rising we should contribute in making trading beneficial by holding an trading for long term, it is very important to know each and everything about trading so the more you gain knowledge the more price will recover, buy when price is low and hold with patience.

Is a good post. But we have potential of thing's on which a trader have to abide to be successful in the Crypto trading it won't just be a limited 4 in a number. I believe newbies with find this post helpful.

Well, in addition to what you have presented in your submission above i will say having a goal before trading is very important because that will guide you in your yrading decision only if you follow them strictly.

Yeah, especially you're a human too, of course resting and break is an important thing for you to health recovery, and self-introspection also, after a day of monitoring and trading. instead traders develop when they begin to understand their mistakes when they break, that's my experience..

I believe that newbies shouldn't trade too much, they have to be patient and spend more time in gaining information, knowledge about trading. They shouldn't hurry things, as with the passage of time they would learn many things on their own.

Number 4 is very substantial to me and the newbies should too. The bad traits of starting traders is that they never want to lose and all they want is a winning streak. They act like a child that when they don't get what they want, they just leave and hate trading. But I guess they are not really into it because like me, I was upset with my losses but I know that I will not give up and it gives me idea on making my own effective strategies.

A good trader takes his job as a gift. He is happy to spend all his time learning about the cryptocurrencies, choosing the most promising ones, investing in them. He is interested in his business.

Newbie should trade with moderation, it's hard to succeed if you are a newbie, so reduce the amount at risk.
What we are going to do here is to reduce the risk and be profitable, that two should go together, newbie are not well experience so most lilkely
they will make a bad decision in trading.

Learn, learn, and learn, that's what they have to do and focus so in the long run, they will be consistent.

Talking about day trading yes. People who do that mostly follow their pumped up coins. Do take it for granted that day traders make all their profit from trading. They make a lot more from selling their picks to a handful of koolaid driven gang ready to support him as a self-proclaimed god.

Stress is obviously harmful to any trader. But being in crypto if you can't handle stress and anxiety then you need to stop trading. Otherwise a better method is long term holding and selling a big pumps.