Bitcoin Forum

A conclusion that I get from years of trading-----

When you are concentrated, you will be oblivious of yourself and forget those messy thoughts, namely a state of "unintentional". If you got this calm feeling, which is amazing, you need to maintain this in your work and life so you can achieve more success. The more we use this feeling, the better result we get then more skilled we are using.

I used to listen to more senior friends: "Don’t be too close to the stock. The closer you go, the worse you will be." It’s correct. However, the stock market needs to be learned. If you don't go deep into the research, how can you be wise? So, at first glance, this seems to be very contradictory. But this is a question of high skill: people with deeper skills can stay close to the market without being confused by the market.

Learning and actual operations, from a certain point of view, are two different things. It belongs to two different stages. When studying, we must be serious in thinking things over deeply, and researching repeatedly. The spirit of perseverance is important, as well as careful work, aiming at the pursuit of perfect high standards, and not to be sloppy in the details.


In short: you need to be incisive and subtle, then you gain success. However, when your skill is practiced and you enters the market, you go to a higher level in which you will be bold and resolute, not punctilious in details and only focusing on the general trend.

In other words: When you are a student, it is inevitably being close to the market, because you need to look at it, dissect it, analyze it, and have to go very close to it. However, when it comes to reaching the edge of the winner's realm, it feels that there is a distance from the market and it is no longer as close as it used to be.

When we do trading, it is also the same four layers: At beginners’ phrase, there will be many wrong ideas and techniques, which will make us doubt the correct method, even do not want to learn, so it is very necessary to focus on studying at this time.

I hope that the garbage knowledge in the brain will be removed. Then the burden of brain is lightened, and a good weight loss effect is achieved, which is a very natural state. At this point, operating the stock naturally follows the Fa-rectification, not deliberate, not tweaking. Since you have reached the height of unintentional heights, it’s undoubtedly the best time to work harder. Currently, everything is developed normally, trading is operated naturally, and you are free from emotional shackles. Everything is natural, and you just go with it, achieving with minimum fuss and maximum efficiency.

What is said above is normal steps of learning. However, most people probably have no chance to follow the steps to learn. For my part, the actual situation is as follows:

1. I just entered the market, I don’t know much, I don’t care much, I’m lazy, and I look at the market table occasionally. (In fact, this is a bit of a state of "unintentional")

2. Suddenly one day, I felt that the opportunity to enter the market came. I went to buy stocks (or emptied) (because I was "unintentional", it was easier to find real and big opportunities to enter.)

3. After a little bit of sweetness, I want to learn more (in fact, I want to learn more short-term operation knowledge), to see if I can "frequently operate" so that I can make more money (this is greed, then I began to lose the realm of "unintentionality" and entered the world of deliberate creation. This heart is a delusional heart, no longer pure.)

4. When I realized that I was going in the wrong direction, I made up my mind to jump out of small places, small details, small short lines, and small patterns. I wanted to find my original heart back, which was pure and kind.

5. Then I got rid of weed and kept the flower of the leek. I returned to the state of “lazy” when I first entered the stock market, but that was only the surface. The correct knowledge was ready.

6. While waiting for the next opportunity, I will not ask for it, I will not be anxious, and I will not lose my heart. Because I have forgotten that I am waiting (ahh, I envy this kind of relaxing life)

7. The opportunity is coming... "The god of opportunity will come knock my door" - if you are ready, you will hear the ringtone. You don't need to listen every night, every minute, every second. When the opportunity comes, you will know and naturally act.

I get all your point and it actually made a lot of sense, but every trader have a different story to tell, everyone did not learn it in same way, like in my case, trading has always been a thing of fun especially when I was still learning, I know I lost a lot of funds but I saw it as an opportunity to even learn more and get better, it helped me not to repeat same mistake twice and made me get better.

I understand the thrill of trading, but there is no such a thing as fun trading when you are risking your hard earned money. People thinking trading is a fun thing are mostly the ones who end up losing in the long run.

A few lucky profitable trades don't make you a seasoned trader. I'm not directly referring to you, but people in general considering how they assume that trading allows them to generate an x percentage of profit per day.

The most important thing is to not underestimate the irrational nature of this market, especially with how every single crypto currency represents speculative value, and that's what most people don't seem to understand.

Crypto can always go lower, the crash from $6000 to $3000 was a brutal example of that.

People do have different treat up regarding on the things they are engage too.We say that we are risking our money on doing trading and that thing doesnt sounds fun since we know the tendency of losing but
this is just like on gambling too, you are risking money for fun so they might the same reason or view but well gambling and trading is a different.
Each trader do have their own experience and on how they do learn up things.Some lose hope and some accept loss,move on and continue to learn.

When people are trading with the money that they can afford to lose, it will be more fun. In this case, we wont think too much about losing the money but at the same time we have the chance to earn profit. I agree with milewalda, "it depends on how you treat trading".
Of course losing too much in trading is not fun at all, but if you lose what you can afford to lose then it wont be a big problem especially if we are in learning phase of trading.

Trading is all about self-discipline and focus.Ge trid of bad habits,don't eat junk food,sleep 8 hours every nights.This will help you "clean" your mind and stay optimised and concentrated 100%.It will help you gain willpower and motivation.Never get addcited into crypto trading.Just think of it as it is your 9/5 job that you actually enjoy working.

You should always learn from your mistakes. Instead, we cannot get anything by saying that I know so much that I do not look at anything or do not know anything at all. Just, you should find the most appropriate way for yourself and continue from here.

It was a welcome wake-up call for me too. I got so comfortable with it last year that I needed to be reminded of what this market is about. Another thing is that I underestimated the severity of having an important support level break, and went long on the way down and got rekt in the process. Initially it sucked, but it taught me an important lesson which I will put to work whenever we go through a similar correction.

But crypto trading is like gamling so we are going to get addicted more for it as long as we are motivated on it,and we can't consider it as our 9 to 5 job because in job we are not going to face any risk if we are doing work or not it is not going to give any direct results because we are working for someone but crypto trading is like business so if we face any loss our mind will work hard to make profits for the losses that is how it keeps continuing.

At least for what good thing about you was that you learned from your own mistakes, unlike to others they repeatedly do the same way of their
wrong way of doings. They really never learn, and I don't know why they continued despite of their mistakes. If we did something, let us not do it again. Because, trading is a matter of showing who you are in my opinion.

I respect your conclusion and opinion

However for my own perspective, part of being successful in every ways is to establish an effective knowledge foundation built by intensive learning, experience and mistakes or success

If the foundation is not yet strong, there is no time for Laziness

You can relax when your portfolios are far more greener than reds in bear market


 

You're taking your emotions with you when you say that dude. Trading doesn't show who you are, it shows how well you can set your emotions aside just the the other guy here. That's one of the lessons you're going to learn in trading. Keep your interest but make sure you don't get carried away.

I myself have experienced quite a few lucky breaks in my few years of trading, but I still don't consider myself as a seasoned and experienced trader. I also never try to get my feelings heavily involved as I know that it wouldn't be good for me since I will always try to recoup whatever losses I might incur. I might have done it on gambling and online casinos before, but certainly not on trading as I know that I can always make a way to profit compared to online casinos which is just pure luck honestly.

Points are valid and taken, and newbie investors should keep such things in mind.

And there are lots of proponents that says the price won't go to $10,000 (coming from the last all-time-high) and yet here we are, @4,000 and even struggling, so it was really a brutal wake up call. So we as traders, needed some adjustment and mindset totally change as well, otherwise all the money we have made in the 2017 peak would have went to nothing, so to speak. So this is really a journey, lots of ups and downs, but the most important lessons is how we get out and chase and won this game in the long run.

Keeping both the passion and profession in equal state will definitely be important for everyone because if you go only with your passion the improvement of your life will that happened if it will not success so doing some jobs is also more important for a person to live without any problems.

As high rank members we may need to share some thoughts to the new people and explain the perfect information to the people does not know so we may be able to help them with the information if they wish to learn things in crypto field.

I do not think there is a right or wrong trading strategy, it depends on what works for a trader, and how it fits into the other aspects of their life and their time. Success is the only universal goal, the route could be changed or tweaked.
There is not strategy which guarantees success. There is no guarantee in trading.

There are so many factors that need to be known and no one is perfect when it comes to knowledge about certain things. Even the best investors keep on reading the latest and the history to know more about how things work in different situation. So, I think if you keep on learning about something, you would be good at it and it will help in future to maximize the money.

yes you are right first of all we need to trust our confidence about what we are doing then only the next process will be simple and useful for you otherwise there was to that who appeared in this field not take any profit from this situation and it will be very important situation to handle for everyone more properly.

the different way of trading method that I did, I did not dare to enter the trade without a guide because we have not yet understood the price movements and the way we trade without experiencing huge losses. to anticipate things we don't want, the presence of a teacher helps us a lot. so learning becomes safer.

To understand the market, what I did was read books ... to have my own criteria about trading, it is better to read books by famous speculators, before someone tries to teach you things that do not have to do to understand the market, however , I do not anticipate, I simply react to the market to open my trading position.

Yes, reading books give more knowledge but if you ask me I will tell you that reading books and guides are not applicable for this current market success trading.
Like mapanlah said ,we are yet to understand the market movement but I can assure you that if you watch the market closely you'll understand the market movement.
1) most traders and investors are keeping their distance.
2) when some good tiding news happen (like hard fork, private company implement crypto payment etc occur) the market will experience some bullish.
3) To make a success trade apply the FA/TA analysis with genuine news which will drive the crypto market price then you make a profitable trade.

I think we need to be persuasive and passion about trading then we can achieve success, I don't see why we need to keep the distance, the closer we learn the better we understand the product, and there are few ways to determine the product potential and sometimes it can clash our judgment, that is when we take a step back and learn more before we decide, but I agree that each traders got their own experience and strategy

Having confidence in what ones do pave way for a reasonable thinking and decision at the right time. Unfortunately, having confidence is not enough to provide a crypto trader profit because the inclusion of knowledge, research of new update and genuinely information about the market are needy to make it complete.

I think having over confidence about trading gets a lot of people, I had a friend who made a lot of money during the bear run of 2018 and believed he was some sort of magical trader that can make money any time in any market, dude lost all he profited and than some with couple bad trades after a while.

Do not forget that trading is something you constantly learn, even after years of denying to invest into something he doesn't understand Warren Buffet decided to invest into Apple and got some stocks which fell in value and gave him a loss. Basically, all I am saying it doesn't matter how much you learn and how much experience you have, there is always more to learn and more to experience in order to be better, every single day you become a better trader than previous day.

Overconfidence is also a bad thing. It all boils down to speculation and analysis of history of trades. Those who bought at a price are going to sell at one time. So you wont have to lose interest - you know its going to pump and then dump. Problem is that there are so many stuff to look into that its often a herculean task to do all that and make money in doing so.

One thing that you can be confident about is the bullish nature of bitcoin and its future. Buy it and stock up to sell during pumps. :D

Good thing you shared your experiences in trading. If we learn more about it, it boost our confidence. Though trading is not always fun. There are also times that you have to be serious about it to win and gain your desired outcome.
You are lucky you have friends who are able to advice and teach you whenever their is a vague situation in trading.

Ahhhh. So me. I was hit by this one while reading it.

I dont think you will be able to get it back. It is already tainted. The mark will be left there even if you are trying your best to be back to the original one.

:o
Thanks for the good story. Had a good time reading them all. Just quoted the special ones.
Merits for the effort of writing and sharing it.
Good luck to you.

Reading through your writing, some aspect got me laughing while others made me laugh because of my own experience but I will just say that trading is fun but not always when your account is about to be blown off  :)

That is the point, everyone all have their own way of learning and assimilating and we can’t all follow one direction and that is the sweetness of trading, one must loose for one to win. I don’t read any how books or read any how book because it is not everyone trying to transfer knowledge based on their own opinion or perception are all right.

I strictly scrutinize any analyst I pick interest in before following or any book on trading before reading, I look at their trading history first, their success and how they have been able to influence the market. I used whatever method I grabbed from them with my own personal technical analysis to open my own trade.

All of your these are informative and helpful to some traders like me. Struggles are somtimes going along the way when we are tend too confident in our trading. Learning it by experience is a lot better than reading some advices that are lame. That is why  I envy you.

Forcing yourself to be like one of the person on where you do read up a certain book would only stress you out.Not all traders or people would be really the same since we do have different
systems on how we do apply our knowledge that we learn from the past years here on this trading field.
Following others path isnt bad but dont rely too much and get a portion of the tools they are using and apply it on your own.Just a matter of trial and error until you do able to
get the right profitable trades for you.

Personally I prefer simple way to do something especially for risky one.
Since I won't to be complicated things, I just let it be so it can grown but itself.
Remember that Warren B is the long term investor because he believed that those investment that have been choose will change his life  !

Reading books, article, listening to new, watching trading clips from expert and so on has whole lots of role to play to be successful in this current market sir.

New things, new strategies that you can apply to your trading keeps popping up day by day and if you don’t keep yourself abreast of information by reading, listening or watching articles, you end up not gaining much in the market and you find it too difficult to cope.  I get all your 3 points but the whole thing still amount to reading and studying.

On my own opinion, yes, trading is technically a gambling because you have the money and will and chances of winning and losing literally a gambling process. Somehow it is business, same rythm as gambling there is a chance of winning and losing but with deep knowledge to the market you can make huge difference.

There is nothing to envy those who are good in something. They have had their bad days too when they started from scratch and then rose to a profitable trader. Its all a part of the learning cycle and it is obviously going to be profitable to those who know about how to handle their money and then put that in the proper coins. You should also try trading some top altcoins and see what happens. However I would suggest trading bitcoin more than altcoins because they would bleed out soon and then never come back up but bitcoin will always do so.

Dont waste your time watching someone make money. Use that time to sharpen your own skills and trying your hand at it.

right and with this information we all can trust our trade because this information is very useful for me because it is good for future trading

yes understanding the market situation is always been an important and needed things to be a good trade and here because there are lots of we are available to make your knowledge about cryptocurrency field and trading also so I also been learning something to do before making any decision.

Learning is tool which help us get so many things that we never even imagined in our life, when we struggle to get something, it is impossible to be unsuccessful getting it, so you really has given us a precious advice that a trader should never stop learning about trading skills as it is only way to overcome all fears of lose and to get maximum profit, in trading knowledge works as weapon.

Understanding the market movement is more important. The situation may be dire but you can understand the trend - then it will be useful to turn the tide of war into your advantage. Like when a bear market is going on you should not panic rather take out a loan in dollars and use that to buy coins and dump when the prices start rising again. Whales do that to manipulate the market when long bear markets are ongoing and they take advantage of it dumping on those who think that a bullrun is not coming up.

This is the best way to learn crypto markets - by trading yourself. If you lose some money in the process consider that as teaching fees.

When you talk about loan, you mean real loan or leverage trading load ? If it is real loan, I really frown at loans because it is very dangerous since the market is unpredictable and no one knows the waiting time for the bear to become bullish, which the lender will eventually be a pest on one’s neck overtime.

Since, the investor already has an investment which can never turn zero no matter how deep the market is, it is better the investors wait for the bull run  till his original investment comes out for him to withdraw and make amendment in whatever mistake he made that made him buy when market was BULLISH.

Waiting, that's what makes people lose a lot of money. I really noticed that we're dealing with more people that keep hodling their coins regardless of what the market is doing, but don't actually believe in the coin they invest in.

In this case you would expect them as an investor to take a loss and let the market bottom out, but nope, these brand new investors think a bull run is close every month which is what they prepare themselves for.

Overall, if we look at the weakest hands, they very likely have outperformed the majority of the investors/hodlers here. People here made fun of those who sold last year, but seriously, they did the right thing panic selling early on.

Those weak hands on last years did really make some money which we can really actually say that being weak into those times do have significant positive impact to them.
I agree that do most people hold do losses more compared to those who sell early even they do keep saying that they would regret later on that they sold early but look at what happen now?
Who the one still holding and waiting?

Everyone has a different incentive to start working. Someone inspired by the successful story of another person and began to study trade. And someone need to make a lot of mistakes to start doing things right.

Either of the two. The purpose of the loan is get money in the hand to trade with. Both of them serve this purpose.

Thats your opinion. ;) We have leverage traders who live on these methods to make money. Its nothing new and has been happening from the stock market trading.

True but there are differences in the methods of trading of different traders. Some prefer to jump in on the bear market and bet in the opposite direction to make money. I am not saying it is good or bad. It is a method some people follow. Other prefer to hodl for long term and sell when bull run appears. There is nothing wrong there either.

It is actually the passion that has made man enter in to cryptocurrency. A number of investors in cryptocurrency have entered due to FOMO because people around them have been making big crazy profits which turned as a motivation for them to invest as well. So I think that no one who understands the crypto ideology would loose passion but would rather be more passionate.

I think that the time has already passed when cryptocurrency users madly chased profits and tried to earn a lot of money. It is time has passed, Because the possibilities have changed. But I understand that stress is very difficult for people who bought cryptocurrency at the end of 2017 to cope with.

The time has passed but it will come again. It's not passion or anything else that drives people here but money.. You probably will develop your passion once you've successfully made money already. Though it can be very tiring in the long run plus the string of losses you'll accumulate along the way. But if you're really after what it will be in the long run, then the interest will still be there.

The biggest part of bagholders have entered in that manner. That includes the whales who are playing with crypto. You have to appreciate that they are also the reasons why the market capitalization is so huge.

There will always be honest traders who buy bitcoin for its future price and then sell at a good price and then buyback at lower price. They are the most sensible of all investors. Only thing that they need to sustain is the intervals between these transactions and the criticism that they face. Its tough to be one of such hodlers but its one of the safest and profitable ones out there other than leaving your money in the bank at give it a 6.5% boost every year. LMAO ;D

I agree we can only trust that will be not a good idea because the other job also important for a person to get the required income like to make his journey more easily otherwise it will be always difficult in the price of your investment was reduced.

If there where people still hodling those coins bought at the end of 2017 will be very few because in 2018; there where still an opportunity for those bought coins to yield profits if discretion was applied. I was a victim by this said circumstances and i overcame by trade, and at the end was able to get back my profits.

I guess the point is here to not get married to your investment. Broadly speaking, it depends on your definition of "fun". For example, Linux was started "just for fun" but that didn't prevent it from turning into a major milestone in the operating system development and information technologies in general. So there is a grain of truth in approaching trading with a sane bit of superficiality since otherwise you wouldn't be able to deal with the losses which are inevitable on your way to success at this endeavor. And let's be honest here, many of us like the thrill of trading, especially if we have a backup income not related to this activity

Simply put, when you are penniwise, you'll never win the highest prize!

Here is the root problem. People get inspired by reading other peoples story of success. I would say they actually get "excited" by reading other peoples success story. The stories they read makes them disillusion. They think that the traders got lucky over night and made some quick huge profit. Even though this is not the reality, the readers still jump into the market hoping they will get rich too. And this is exactly where those traders suffer the most.

I would support that. Based on stories of others people often think that trading is easy and making money with Bitcoin is easy. They don't know how much efforts, experiences, knowledge and risk taking stays behind that. Yes, some success stories could be good motivation and like for any other job for trading you also need some passion but in such cases people have difficulties to tell the real situation from some illusion.

Such stories definitely have some ground and substance

In fact, making money with Bitcoin was pretty easy the whole time since the second half of 2015 and till the end of 2017 (which is over two years, just in case). You could simply buy a few bitcoins at any price back in the day and then wait patiently for your investment to double or triple (and if you were extremely patient you could even quadruple your starting capital). The hardest part was to curb your greed when it was the right time to call it a day. That's what these stories typically don't tell

Definitely agree on the thing you have said about the situation where making money with bitcoin was pretty easy into those years unlike now that volatility isnt really that much
which cant really give out chances on making profits.When it comes to money making stories and failures then most people would really have the same story for sure.

This automatically implies that everyone is a whale and indirectly saying whales are honest traders, lol. I said this because you did not breakdown the future, have you forgotten that future could be tomorrow too. So, if I come to pump money into the market now and I see a price that profits me tomorrow, I can as well as dump it and not be tagged as whale.

I am just kidding with but on a seriously note, I think we need to define the number of years an investor can leave their money before pulling it out to consider such investor as an honest traders because the activities of whales are not far from what you said, they buy at dip and sell at good price, the only different thing about them is that they manipulate this with large funds.

i think that is an exactly mindset of a beginner in crypto trading. you must pass through that feeling and pains of concentration.  it is not easy to maintain a top class with passing through different chapter.

You're right. You very well described situation through which passes every newcomer. Thank you for this information. I hope that she can help many and prevent their mistakes.

Well all of in crypto have different story about their losing in trading and even investing but sometimes because of losing we've learned many things so we know what we do next time. And it's part of being trader and investor to lose sometimes the important thing is you learn to what happen.

Holding is actually solid advice, history tends to repeat itself.  You don't want to be trying to time the market, TIME IN THE MARKET BEATS TIMING THE MARKET.

Daytrading is essentially gambling the money is in long term holding.

This is also a complicated question

Up to a point where such overgeneralizations become meaningless and utterly misleading. To put it differently, you can't possibly say that day trading is gambling while long-term holding is not as both can be gambling just as easily as they may not. Obviously, it all depends on the individual engaged in any of these. It should be clear that people can lose money irrespective of their investment horizons (short term versus long term) just as they can earn profits riding both short-term volatility and global trends

Traders should use what works for them.  I don't make my trading complicated. I keep it as simple as possible. Learning trading from complicated trading methods don't work very well for me.

With the current situations where the market is a bit stable for some time already, it is better to start building up portfolios by acquiring stable coins. It might be a good strategy of somehow not thinking of the profit right away. Instead, think of the future bullish event. This year is just like 2015-2016 where only few people believed, until 2017 made a huge transformation the cryptocurrency. Moving away from trading, staying by investing long term.

Day-trading can be a bit complicated and riskier than long term trading and perhaps so @Indamuck compares day trading along with gambling. Day-trading usually goes smoothly with higher trade volume coins as there always are much buyers and sellers for the particular coin flying the price and giving us a opportunity to make minor profits in short term trading.

Whereas we entirely wait in long term trading to expect the price reach above our limits and than we place sell orders. Usually long term trading can be profitable and hence is considered by various traders. Short term trading will really require a lot of knowledge and ability to graph the price index to see profits growing up.

I think with short-term trading you have more control over your future

Just holding some coin is no guarantee that it won't turn into trash in the future. In fact, it is almost a given that the majority of altcoins are going to bite the dust eventually. With day-trading your future is in your hands, metaphorically speaking. Indeed, there is no guarantee of success here, either but your options are open at all times

In an unpredictable environment which cryptocurrencies fit perfectly into more control ultimately means more chances for success. If things go wrong, you simply get rid of the dying coin without much ado and futile hope. Compare that to the attitude of a typical bagholder who hopes against all hope till the very end

Losing makes us much braver to face the ups and downs and it is never that bad to loose at the start. There always are a number of things which should be learnt before moving onto our trading career. As a investor, i have failed a lot of times but some of my holding always goes much profitable.

Most easy way to earn profits without much efforts is long term holding as the coins we see the potential in may fly up in the upcoming future and would also give most out of the minimum investment. Unless and until we gain some practical knowledge by actually going through it, we can't expect profits. Traders have a long way ahead of knowledge with maybe immense and unstoppable ocean of knowledge.

Its all a part of the perspective. What is complicated to one person is simple to another person. Fact is that the first person is less educated in that field than the second one.

So it is not a first time impression of what trading is rather a long term experience and knowledge gained from that used to determine is it complicated or not. In fact learning them does not do you any harm but obviously is good if you are willing to use that knowledge to trade in future and correct previous mistakes. Of course at this moment holding is the thing to do. Do not buy at the pumped price of bitcoin but watch where it goes to.

Very close to how i do, there's alot of sweetness when the market boom, capable to earning money that wouldn't be possible as a student, but still to immature and young to close my position, observing and study trends of market that ultimately lead to pitfalls that barely recoverable, bitter but there's always light to be proactive again with my efforts to work harder for better investments. Proper distance? yes and no. Trading is about dealing with real time market with close speculation unless you have lots of funds or somebody to keep an eye out for you

If there are opportunities to be evaluated, keep holding in the background. So, holding is also tactic, but a little dead. Do not know, just waiting for the time when the market is right for you.

Thats a very general concept of the market that you should not panic and continue to hold if prices drop. You have entered the market because you have the belief that the asset you bought is going to go up. With bitcoin you can always be sure that in future the long term price rise will be happening and it wont end up like what inflation did to fiat.

What becomes difficult for traders, specially the new ones is how long to hold. They become impatient and that is what takes away a golden opportunity. Someone out there is willing to buy in case you panic sell. So its your loss if you do that, but you are welcome to do that if you feel so. :D

Doing shortcuts with yourself from learning wouldn't make sense and it wouldn't benefit you from anything, it just makes a person crazy. The ability of people to want to learn is the thing that we should value the most. If you want to learn something, you would do your best to do it, but if you just push yourself and not really care about what you are doing, you are most likely to lose faith and passion in it.

It depends on what knowledge you are letting in your mind, like the "garbage knowledge" that you are saying, what is that? Knowledge is knowing whether or not it would be useful. It depends on how specialization of things come to play with that, the priority of learning also is to check yourself out if you are doing the right things and assessing yourself if you are doing a great job in it.

Learning to trade is hard, automating it is easier. Gunbot  (https://gunbot.ph)would help you a lot with that.

Having no passion would just normally lead you out on engaging to things on a short duration or do simply surrender when you do experience hardship or problem. Facing up scenarios that you havent expect
will really be part of the learning process.Its up to you if you would accept and learn from it and decide to move forward or do just simply let yourself wrapped up with feat which would result into quitting.

Anything and everything can happen, that has always been a constant in the market. In terms of trading, I somehow agree with keeping that ample distance because it gives you the chance to see the bigger picture. That way, you can plan of your actions pertaining to the market whilst seeing everything that is happening. On the passion aspect, it should always be there to enable one to keep believing and move forward in he market despite all the negative things happening around.

That’s the problem. Why start in the first place if you don’t want to do it? It’s like pushing yourself to the wrong person that you will become. No matter what it is, as long as you know you could try, then go. Know yourself first and understand what you are going to do

Impatience is really bad. It can cause you to lose a lot of things. That’s what made my friend to miss out on the bull we had in 2017. He started cryptocurrency before me and later he taught me about it. So, I started investing. He never had patience, which I did and I was able to gain from it when the bull trend arrived. I am not always in a hurry and I always plan things ahead of time so I don’t make a mistake.

Being calm and not being in a rush in everything you’re doing is a good thing for anyone to do. You shouldn’t always be in a rush or you might lose. Whenever I want to invest money in any thing, I make sure that I have the money I will need for that investment (an amount I’m ready to risk) and when I invest I’m not always in a hurry to make money. There are other things I can do to keep myself busy.

In most cases it turns out to be an advantage

And not just in trading (though in trading it is likely most noticeable because here it is always a question of either money lost or money earned) but in life generally. With that said though, there are also cases when you need to act fast, and unless your patience comes from an in-depth understanding of the market dynamics (which doesn't seem to be), it can easily cause you as much pain

I also have an older brother who often let his fate lead him. But I think it will be a bad action for his future. We really shouldn't be passive. After each failure, we need to be more burned and more aggressive to overcome mistakes again. Let your brain always work, don't let it relax too much.

It is necessary to start trading only having a certain knowledge. Not everyone can trade successfully. You must be  is always wise to make your trading decisions.

In reality we have to see trading as fun but it is not fun and when we began to lose really money we began to see trading as risk.  Many traders have lose money and about 95% of them has never make money from trading consistently.  I think trading is a skillful thing and before venture into it you must demo trade first.

defeat is not the reason for you to stop trading, in my opinion when trading has become a passion, loss is not a bad thing, but a valuable lesson for you. trading is not a place for sadness, if you have passion in it. You will be ready with all the possibilities

I never really traded for fun really, this is my job (not trading but crypto in general) so whenever I do anything crypto related I have to think about my living expenses as well.

If I am earning money than I am spending on buying stuff that will help me move on with my life, if I am trading money that I am suppose to use for living (not something I do frequently but sometimes I have extra money) than I am thinking about if this is a good decision or instead maybe I could use it for something useless for myself :D.

So, when trading I either be losing money that I could have used for myself or I am losing money that I don't need anyway but could still use for stuff. That is why for me crypto is something I am very careful about and never really "fun" for me.

If we loss badly with trading it's not the end for your passion, or rather let's take it as a big challenge for us to pursue more big dreams to come. Eventually, that happens with a purpose and as you move forward towards a good future with cryptocurrency losing is always a part of success. Don't give up, or rather be cautious even if you fail at first but I knew in the long run striving harder will be paid off in the end.

  Yes to some extent you are right when we have passion for something we never think about the side effects and in trading we will have to face the good and the bad of it, but we can change our luck by our self, never stop working with trading because it will give you experience and will improve your trading skill.

The only reason why people see trading as risk is because of the lack of proper understanding about trading, most people that gamble with trade stand the chance of getting fed up with it quickly.

The best way for us to see trading a fun is when we apply the right strategy that will assist us in always winning in our trade, if we don’t apply the right strategy and we continue to lose money, we will end up seeing whatever we do as a risky one. There are lots of professional traders today that are so use to trading and strictly see it as fun when they go on the platform, because they have successfully overcome a lot of things that makes trade risky like greed, emotional trading and many more.

What is "beaten" in trading? The trader does not get defeated, but only have been fooled to put their money in the wrong place. Its another way of holding on to something that is no longer having any value. This once happened cannot be reversed back but this can be prevented in future by not buying shitcoins that have their own propaganda in promoting them over bitcoin.

I would say that not everyone gets luck in trading. Yes to some extent luck needs to favour you so that you manage to get the right coins at the right time and sell at the right time too. But this needs practice and that will take time and some bad investments as mode of sacrifice.

You don't need to run from trading, just make sure you act wise, when I mean act wise: buy bitcoin when the price reduce and sell when it goes up... With that you will make your profit.

It actually depends on a trader how he look at trading some may find fun will trading and at the same time gain profits while some may find it very stressful. I think the common mistake of trader that's why they lose is because most of them assumes that they can get profits easily when in fact you need to study the market very well and how it works for you to be able to make a good trade. The market is very unpredictable at times and you can't just assume that if it goes up for a couple months then that would be the trend all the time, sometimes it will drop due to a lot of factors surrounding it.

Agreed. We are all came from different reasons and perspective but as long as you keep on fighting we are all the same. The temptation and the greed in this kind of industry is hard to look back and the main reason why traders are loosing their focus. If you feel that youre not doing good anymore , take a rest then go back again.

I think you're saying this the wrong way. From my understanding, what you're trying to say here is that we all should stop being greedy while investing right? Cause I don't see how keeping a distance from the market and not knowing anything is going to help you become a better trader. Things doesn't work like that, if you want to be good in cryptocurrency trading then you will have to study and learn how to trade crypto and also follow up with what's trending cause that's what is going to help you know where the market is likely to head to. If you don't do these, then you're as good as a failure.

Yes, but that will need an effort to do that because not all traders can buy bitcoin at a low price, and that is why they need to learn more about trading. Once they can know the right time to buy bitcoin, I am sure that they can be able to buy bitcoin at a low price and they will make a profit again. It doesn't matter if the profit will not bigger as the other people because you will have your time to earn a big profit in the future, especially if you can learn more deeply about trading.

Practice and experience are the most necessary things when you are a trader or investor. I have read many books and knowledge that I still cannot understand only when I stumble really.
I think we should practice more, stumble more to become stronger in the future. That is the way I learn and it is also a way to help me grow better in the future.

  Having experiences will enhance our wisdom to create liable strategies to become a successful trader. Consequently, the value of some coins are just bouncing due of price fluctuations. And trading at this moment is too risky but it is about our own dleiberation to contour the possible outcome.

keep your distance from trading can be one of the strategies to get peace in trading so you can get new courage and clear mind in doing the next trade.

Has trade has become too risky this period, this would have actually be the best time for anyone who intend to learn how to trade to do so. Any trader that successfully practice in this market situation will surely succeed in a normal market condition that is suitable for learning.

I got this hint from a professional trader and this is also what I am still doing now, every time the market becomes quite risky, rather than pulling out, I use that market condition to study more, and thanks to some trading platform that has provided demo trade that one can use to learn, if one is able to overcome every challenge we encounter during this period with thorough practices, then we will surely perform to the best when we trade under normal market.

Good for you that you do have some specific time where you do prefer on learning up to trade.
For overall learning it doesnt really necessary need to be either quiet or moving market for you to learn.
You should make yourself versatile on any situations you faced.

I seems also not all time the market can grow up each moment they will do some how it can be possible to manage some time to spectate the market growth each single day.

Its possible if you know how it is going to go one certain day. If you manage to get a tip about a certain partnership between two bitcoin giants than the market is going to go up pretty soon. Again a lot of FUD being done may crash the market and keep on bringing it down like anything.

It is not possible for every trader to get such news beforehand so what I suggest is to put orders at different levels against previous buy orders. Make an excel sheet to keep track of buys done and correspond sell orders to those. In that way whatever level the price reaches to you will have some orders going out and money being made.

I agree with the opinion of the author, only peace of mind and time will help to earn in the market, long-term investments give more profit if you do not have enough time for daily trading and little experience

This was the exact method I applied in my Forex trading that made me lose my entire investment, when the order I put at those different levels to counter the previous order were the ones that went against me, while the previous one was the one that gave me profit later on, and if I had just been patient, I may not have lost, although I used Margin to trade then.

I think this method of yours can still work in a cryptocurrency trading if the trader does not apply margin trade, provided there is no margin trade, and one trades a reliable coin, I think we should not lose any of the order placed at those different levels, just that some might really take time to get fulfilled.

Maybe you mean on keep some distance on particular scenarios or situations when you do trade.If you do see that

you are making some loss or wont able to perform well on your trade then its wiser to stop or pause for a while and
make yourself calm and relax and analyze on how to do the next move.

I don't think it will become some loss, keeping distance is important in trading, especially if you are in a state of stress due to loss, keeping your distance will make your mind clear again, and even when market conditions deteriorate, keeping distance is also important

Frankly speaking, everyone will have their own result in trading, because it is influenced by a huge number of factors, the time when a person started doing this, how much he can devote to this activity, whether he calculates well and sets goals in numbers

I agree on this because not all strategy or method that a successful gambler use may work on the other gambler, in my opinion, it is more difficult to follow what others are doing it is better to make a strategy own your own because it has higher chances of positive results.

I think the difference here is one is talking about not trading during crazy times of crypto world itself and one talks about not trading during your best hours. Sometimes, people are not on their best case mentally, you might be tired, you might be angry at something, basically you might be either emotionally or physically in best shape and that means you are not in the best time of your life to trade, trades during those times usually end up being filled with emotions and result with bad results.

However, trading during crazy crypto markets when it goes up or down a lot due to volatility could be depending on how good you are, if you are a good trader you can make profit at anytime, if you are not then it is risky. Those are very different two things and should not be mixed.

One shouldn't let external emotions affect his trading, be they good or bad

It is a lot easier when you follow a certain strategy as in that case you can bravely ignore bad or good moods, dangers as well as pleasures, and do your thing (in this case trading) as good as ever. Otherwise, your trades will still be negatively affected regardless of your mental state, whether you are in a good mood or shape. Your "best time" may easily turn out overconfidence, resulting in as bad results (if not worse at all)

There are so many people that are being controlled by external emotion always, and that is why they are weak and when they go through any bad trade, instead of taking it as a lesson for them to amend and make it perfect, they allow emotion to rule the, get angry with the market and then exit without the intention of coming back, while someone who is good at controlling his or her emotion would see such mistake in trade as a lesson and then use it to better their skill and even if they have to exit the trading market temporarily, they do so with the intention of staying back to go learn the more before coming back to the market to become stronger. This is not only the area where emotion destroys people, there are still so many other areas too, but we just have to learn to control it.

In July, over confident makes me lose over $300 though I later make it back. I hardly depends on external factors but last month I was reading some speculations on Twitter and I became very confident that bitcoin is going down until in three minutes it recovered from $9325 to around $10,500 and that makes me force the trade to close. Currently I am seeing the same thing play out again and it is clear that we are going to see more of news and speculations this days as par what is next.

There's another catch though

And this catch is what ruins not just wannabe and armchair traders but also seasoned and experienced ones. Long story short, we are not hard-wired for trading. We are made in such a way as to react quickly without a lot of thinking based on "innate knowledge" (read, a set of beliefs about something). But the problem is, in the majority of cases that leads to rash trading decisions resulting in the loss of money, and that is when you are still forced to act and react as quick as possible. It is this decision-making machinery that we are equipped with by default that ruins many a trader since it is simply inadequate for trading and it can't be easily changed or substituted (if ever)

I agree with you guys and think that emotions shouldn't take precedance over cool head. Also you should determine the enter and exit point properly. Just don't give up if you lose. If you are a beginner it's hard to control your emotions.But without self-control you won't gain a profit.Also it'd be good to use support and resistance in trading. Recently i have read an article provided by Monfex where they state "A good rule of thumb is to set your stops at support since if the price falls to consolidate at the break and fall back to the resistance, you now know that there was no demand at that price and that supply is growing.". Do you guys agree with it ?

Not all traders should act in the same way as the best way to progress and learn from the market is by failing, those mistakes often train us not to make the same mistakes over and over again. Maintaining distance results in minimal failures and therefore equal learning, maintain distance but make effective movements that generate money only the most specialized traders because they already have all the necessary experience to know when it is the exact time to make a move.

Quitting or taking some distance do have some advantage actually.You cant afford to just let yourself continuous on losing until you out source of funds.
Making some space isn't a bad decision rather the important thing is that you do know how to utilize that time to realize things or the mistakes you had done.
Losing passion is for those people who do easily give up when experiencing failures.

I started trading as a Forex trader, and when I started it was really quite very difficult for me to control my emotion and I kept failing virtually in every trade that I do and what you said now made me remember how I started controlling my trade which is to first deal with the entry and exit point, this is where emotion usually play the most.

I simply just started making use of my stop loss and take profit tool, and when I set my trade, I try to be very reasonable and not too greedy, and with time, as I watch my profit grow, I learn never to play with those tools, they are every important if we really want to control our emotion. So dear, I totally agree with you that we should always set our stop loss for any trade that we make for us to trade without emotion.

The fact is that the main thing is not only to strive to realize your goals, but also to feel your abilities.  You can say a lot, but trading in the cryptocurrency market is not as easy as it seems.  Trading carries a huge risk and becoming an experienced professional will be possible only after a long time of practice and study of this activity.

Making profits is the ultimate goal of a trader it can happen in minutes or even years depends on many factors but how much we are trying to get into that place is important.First we need to manage our funds and need to minimise losses from trading then you can feel that you are here for some profit sooner or later.

The ultimate goal? More like the necessary goal. Although some people trade for a part time method or a side job of making a few bucks some do take it a real job and they are doing their own technical analysis being an investment banker. Although there will be bad losses and mistakes people do learn from them and make sure not to repeat them.

Managing funds is important but it is also important to take a break. Sometimes it all goes against you and you need to take a time out from trading and focus on other things before coming back. It is similar to a refreshment which is often productive.

Agree with you. I also set up stop loses in order to control my losses and minimize risks.

If you take time from trading, it will make no difference if you still come back and has not taking the opportunity to learn more, rather than focusing on other things because sometime when you get yourself too involved in something, you will lose focus, it is better to still focus on that one thing that you wishes to get better on.

I think anyone that is taking a break from live trading should take such break for the purpose of gathering more skills and strategies through proper practice, and then also picking the mistakes he made from the journal that he is using to investigate and see where the lapses came from for him to really adjust and get better, so that when he comes back, he would trade differently and like a professional.

I think that means this. Do not let emotions control you. Relaxation allows you to connect with intuition and take a fresh look at things. Perhaps this will achieve great success in trade.

the crypto trading platform is a little bit similar to the forex. one needs to practice and learn the market before taking a step out. practise they said make perfect. it is a matter of time for whoever that wants to trade to bend down and learn the basic of trading. Another issue that attracts most traders close to the market is fear of missing out.

Forex you say? One of the major similarities is that they are both about currencies being exchanged but that is not important here. Bitcoin and altcoins are something that is beyond the Forex market.

People sell on Forex regularly and buy new ones but in crypto people rarely sell. This is because hodlers are found mostly in bitcoin and some altcoins and they are hoping to see huge gains for which they are patient. You could start buying at low price and you wont get a good price to sell at so easily. So you would have to wait it out. Both are speculative markets though so if you feel happy with one then invest there.

You're right. It's important to keep your emotions uder control and be patient.You have to always be focused and don't panic at every market fluctuation

I can attest to this since ive been a forex trader before and selling and buying is indeed active compared to crypto which you can potentially hold up for longer terms since you do know the rate or level of volatility that can give out potential profits which is more bigger than forex or stocks trade but somehow in exchange the risk involved is somewhat higher compared to traditional trading but people do love to risk up for the sake of that possibility.Losing is inevitable but giving up easily wont really be ideal since these are stepping stones for you to succeed and learn up to sustain yourself for longer runs.Determination does depend on a certain individual because others don't easily give up while others cant.

Probably you can tell us more about how forex actually works so as to educate some of the folks here who think that any type of speculative trading is essentially going to a loss if you are not determined and have done some basic analysis of price charts.

Sometimes I see people talk about how bad trading bitcoin has been for them and declare that they are moving on to forex. They are just angry and this is the anger outburst. You cant help them because they are faulty at their preparation phase.

They think if they put their money in any market they will make big profits, but they forget that if it was so easy then nobody would be poor today. ;D

Frankly speaking, everyone will have their own result in trading, because it is influenced by a huge number of factors