Print Page - Million dollar advice for trader's 🙂

1. #Family#
▪︎Family is very important in a trader's life.One thing about a successful trader is very common that the relation with theirs family is very joyful.

▪︎If your relationship with your family is not good then you cannot become a successful trader.If you are good with your family, then your decision power will also be good.

▪︎If your family relationship is not good, then its direct impact will be on your trading and it will also be negative only.

▪︎So try to make your relationship strong with the family.

▪︎keep in mind, Humans cannot do body work 24/7. In the same way you cannot trade 24/7.

▪︎Successful trader goes out with his family because he can relax his brain. So give some time to your family,wife,friends and your loved once.

2. #Brain power#
▪︎If you are happy then your trading will also be happy
If you are in loss then you will think that I will recover in next time and that is good You will be satisfied.

▪︎But If you become like aggresive then you will think that I will bring the profit of take it away in aggressive mode.Then you will be at a loss.

▪︎If you are a trader, your brain power should be more powerful than other people.

Last but not least
If you try to avoid lose, then the profit will come automatically

Happy trading.....🙂

Quote from: RahulBaria1987 on June 08, 2020, 07:24:55 AM

Last but not least
If you try to avoid lose, then the profit will come automatically

Happy trading.....🙂

Somehow I'm related on all your point except this one because we all know that traders are always aiming to have a good profit and loss is part of it too. Saying that try to avoid lose is quite Ironic for traders tho. You can only just decrease of losing but you can't avoid it. Trading can compare to gambling. There is no guarantee profit out here.

And its too obvious that if you didn't lose then you win lol except you have break even. I agree on the first comment above that you must have a supporting detail like study on that particular subject before you can claim it as a million dollar advice. ::)

Your advises are dealing with psychological aspects of traders and I agree that we need to be mentally free so that we can focus on decision making while trading. For being mentally light, I agree that our family and friends are playing vital role. I have noticed from my own trading sessions that I am taking good decisions like out of many signals which is going to hit target when I am happier at the same time when I am feeling depressed I could not make any good decisions.

I believe brainpower is nothing but our analytical capability. I guess it is possible for anyone just by learning and practicing. I mean you can gain your brainpower through lots of study materials and from watching videos. At the same time brainpower is again related to our emotions. When we are happy then we can find our brain is working promptly to take right decisions on time.

Quote from: Twinkledoe on June 08, 2020, 07:27:51 AM

Do you have at least reference on what you are saying here or just your pure opinion on this matter? We know that the 2 items have impact on your decisions but would appreciate if there are some kinda study about this.

I don't think there are studies out there on the web, but OP's "advice" is the most generic advice ever that you can literally see almost anywhere, and than you could pretty much apply it to almost anything. More of a "generic life advice" than a "million dollar advice" in my opinion.

Quote from: RahulBaria1987 on June 08, 2020, 07:24:55 AM

The relaxing time is true.
But the other notes is kind of difficult for others.
This may not really be necessary.

Family as you say it. What if you live alone?
Does that mean you don't have the opportunity to be a successful trader? I guess not.
A plus to someone who want to relax, but we all have our own way to enjoy the day.
It could be alone time with a book and a cup of coffee.

Quote from: RahulBaria1987 on June 08, 2020, 07:24:55 AM

If you experience emotional troubles during work; then it is wrong.
There is a saying that sayys you cannot bring troubles from home to work; nor take troubles from work home.

You need to strike emotional balance and ensure that you are always in the right state of mind while trading crypto currency.

These tips relate to psychology rather than to teach you how to invest/trade correctly, just as the points that I have mentioned are general, for example:
The family may have a negative role because it achieves psychological pressures, and thus fear of failure, which means not taking risks or playing on the safe side.

Quote

If you try to avoid lose, then the profit will come automatically

This is the worst advice. Whoever fears losing will not make any profits.

Quote from: RahulBaria1987 on June 08, 2020, 07:24:55 AM

▪︎If you are a trader, your brain power should be more powerful than other people.

Last but not least
If you try to avoid lose, then the profit will come automatically

Happy trading.....🙂

Though I see myself knowledgeable enough in trading but I'd rather to keep at a low and open-minded person who is willing to listen, accept new ideas, and accept failure. A trader/s who thinks like this will make them succeed rather than to keep pretending that we are fully back-up with knowledge and skill. Learning in trading shouldn't be stopping by and having new ideas will help us to improve and if we close that this to us, we are also closing the chance to develop. That is why we don't need to shout that I am a trader and I am greater than you.
Then, if you don't want to lose, you can't be here in trading because it surely you can't avoid losses.

That advice is more of a psychological-related. Don't have a connection with how to win trades. It should be obvious that traders should not reach the point wherein their trading activity now affected their family life in a negative way. We should be relaxed, still on our minds, and can cope with whatever struggle we encounter while doing trades.

But not just because we are good outside trading life, it will always yield good results in the long run on our trading activities. To win with trades, we must have the ability to create a good strategy at any given trend. Being a good person just contributes that we are responsible traders despite being busy in doing trades.

Quote from: RahulBaria1987 on June 08, 2020, 07:24:55 AM

If you try to avoid lose, then the profit will come automatically

In the volatile world of crypto, you can't avoid losing. Even professional traders still lose today.

What you need to do is to minimize it while building a good winning stats.

Quote from: harizen on June 09, 2020, 12:23:49 AM

Quote from: RahulBaria1987 on June 08, 2020, 07:24:55 AM

If you try to avoid lose, then the profit will come automatically

In the volatile world of crypto, you can't avoid losing. Even professional traders still lose today.

What you need to do is to minimize it while building a good winning stats.

True! If a trader can't separate their work and life, then they are more likely to be controlled by their own emotions. I think it's not only about traders, it's about human! Furthermore, a trader always has to know and accept the risk of losing capital, if you trade based on the faith that you'll lose nothing, you are actually going to lose a lot more! Minimizing risk is an important knowledge that a trader should know!

Quote from: RahulBaria1987 on June 08, 2020, 07:24:55 AM

Op, I decided to group all these you have said into one fold as quoting it. These whole is just based on psychology and good living. Doing the right thing to people and family to live and take rational decision to life. If you relate it to trade, then you are simply saying a trader should have a relaxed mind and atmosphere to do better including knowing when not to hastily jump into an order just because mother of your child runs away and leaving the trader to baby seat the child... Lol.

Remember however that a bad strategy or plan in trade can never make a better trade even if you have the most serene environment and home.

Quote from: hugeblack on June 08, 2020, 09:37:46 PM

Quote

If you try to avoid lose, then the profit will come automatically

This is the worst advice. Whoever fears losing will not make any profits.

The most essential thing in trading is your mental health, you should never let your mind become the most affected to the results of your trading. You should learn how to keep yourself from those negative effects that you might get in trading once you experience losses.

Learn how to discipline yourself, learn how to make yourself become more mentally healthy. You need to maintain and improve your peace of mind because in that way, you will become more concentrated about your tradings. Being mindful about everything in trading will help you achieve your goals.

Mental health is really the core of your trading, you should not let yourself become really affected by the losses and results, you should become always optimistic of your trading and lessen the risk of your trading. Risk management will do.

Don't stop learning to trade, even you if you need to learn it daily. You need to spend some of your time to learn a new lesson from many sources. Don't forget to learn how to control yourself in trading because that will determine how good you can see the chance to pick the coin to trade. Your family will support you if you do a good thing, and you don't forget about your family besides doing trading.

You need to rest for some time after you work (trade) because that is the important thing that many traders forgot. They think that if they take a rest for a while or sleep, they will miss something about the market. Perhaps, they miss something, but they will have the next chance to select the coin and make a profit. It is normal if you get lost in trading because all traders will have it too, especially pro trading, but you will have another opportunity to recover your loss.

Quote from: maydna on June 09, 2020, 10:03:52 AM

The more time you do engage yourself into trading then the more you do able to take grasp into the market. Dont know on what a million dollar advice is but having that consistency and dedication would be surely be the one of the recipe to be successful in this field.

Success will vary on how you do handle up yourself.Of course, you should need to learn from basics and as said, you should keep learning because theres no such thing about knowing everything.

Emotion will be the common enemy on here plus that some mix of greediness. Technicals is common and you should have at least some grasp of it.Its better to have these things than
to trade nakedly.

Quote from: carlfebz2 on June 09, 2020, 01:00:53 PM

Quote from: maydna on June 09, 2020, 10:03:52 AM

Yeah, experience is indeed the best way to be a good trader. You can read and watch all the videos about trading, but what is really going to make you successful in this field is your experience. Emotions is the one that is not written on the book cause you are the one that is going to handle that, experience is going to teach you how to handle any kind of emotion in trading.

The only way to be good in trading is practice, application and consistency. :)

Quote from: RahulBaria1987 on June 08, 2020, 07:24:55 AM

1. #Family#
▪︎Family is very important in a trader's life.One thing about a successful trader is very common that the relation with theirs family is very joyful.

▪︎If your relationship with your family is not good then you cannot become a successful trader.If you are good with your family, then your decision power will also be good.

▪︎If your family relationship is not good, then its direct impact will be on your trading and it will also be negative only.

▪︎So try to make your relationship strong with the family.

▪︎keep in mind, Humans cannot do body work 24/7. In the same way you cannot trade 24/7.

▪︎Successful trader goes out with his family because he can relax his brain. So give some time to your family,wife,friends and your loved once.

2. #Brain power#
▪︎If you are happy then your trading will also be happy
If you are in loss then you will think that I will recover in next time and that is good You will be satisfied.

▪︎But If you become like aggressive then you will think that I will bring the profit of take it away in aggressive mode.Then you will be at a loss.

▪︎If you are a trader, your brain power should be more powerful than other people.

Last but not least
If you try to avoid lose, then the profit will come automatically

Happy trading.....🙂

The way I read your statement, I found out this could be your own opinion only. Being a trader it really needs an understanding
to overcome those possible things that we didn't expect to be happen. Now, I don't understand what is the connection of family relationship when we the actual trade. Because, for me trading is trading matter only and same goes with Family matter as well.

Quote from: Yatsan on June 09, 2020, 02:23:46 PM

Quote from: carlfebz2 on June 09, 2020, 01:00:53 PM

Quote from: maydna on June 09, 2020, 10:03:52 AM

~snip~

Both of you are right. We need to spend time learning to trade, and we can practice the lesson so we can have more experience in trading. With that way, we will become a good trader, and we will have the opportunity to make a profit while we trade. That will give more chances to us if we can analyzing better from the current market so we can see the time to trade.

Managing the money with the emotion will give us a way to manage the risk too because we will not use all of the money to trade, but we will use some money as the backup trading. When we have much experience, we can be a pro trader who will have the chance to make a profit many times.

I would say that this is a holistic approach in life, not just in crypto trading though. So I don't know if this can be consider as a million dollar advise, the bottom line, enjoy what your are doing, enjoy your life with your family and everything will have a good positive impact on you. Just remember though that loss cannot be avoided, it's part of growing up, you just need to take everything in stride and not make the same mistakes again.

In short, in order for us to make a lot of money, we need a solid foundation behind. Family affection is indispensable and it makes you a lot stronger in making money and building a fortune. This problem is also quite related to the psychology of trading, we need to have a stable psychology to trade. If our lives are too turbulent and always under stress, then trade will become a failure. So find yourself a happy family so our minds are at peace.

Quote from: btc_angela on June 10, 2020, 04:02:17 AM

Yea, exactly that, approach in life! It can be applied on trading, but has little or no connection with trading itself, where your trade depends on other factors, not connected with your family or any other kind of relationship. We people learn from our mistakes (or we should learn, probably some people need to make the same mistakes several times before they learn), and it's the same in trading, we make mistakes, and we learn what we can and what we can't do!
My advice for traders is to try, and try, and to not give up easily after losing. Search for strategies, follow successful traders, learn the process and one day you can be a profitable trader.

Quote from: samcrypto on June 10, 2020, 02:16:50 PM

Trading should not be connected with any emotions, its too risky if you get emotional. Family is important and that’s why you’re trying to be good on trading so you can get more profit for them, so keep in mind to be more effective in trading. You have to get all the knowledge about trading, be physically and mentally fit for that.

Yes. Emotions should never be involved once you start trading because if you always do, you will never be enough to be a good trader. Family is always there, but you need to focus more on creating good analysis particularly on the market price movement. Good traders are not only those family oriented people, but even those who are not can also be good traders if they do trading in a very positive way.

Quote from: RahulBaria1987 on June 08, 2020, 07:29:36 AM

Quote from: Twinkledoe on June 08, 2020, 07:27:51 AM

It is my thinking only.. and learnt from YouTube video..not only for traders but for all humans...

OP's point with or without reference is still a valid advice. Emotional quotient (EQ) is something that I see is lacking for a lot of traders and investors losing money because without it they can certainly do quick and bad decisions as their decisions are always clouded by their emotions during these kinds of situations. I know trading related books will always discuss purely about technical analysis but they are always leaving out the psychological aspect of trading and this is where traders are mostly vulnerable off. You master TA as well as controlling your emotions then I think you are prepared to accept winnings and losses at the same time.

I don't understand why you are saying if you are having good relationship or family then you can be more successful, I will say the more responsibility you have then you cannot concentrate fully on your trading activities so I feel if you are also and enjoying your life then you can be more successful as well.

Not everyone have same IQ level but anyone can be successful with their hardwork, so if you are not born as an intelligent then make yourself one with your experience.

If you mean psychological and emotional aspects of traders are worth of million dollar then I absolutely agree with you. Yeah, only with peace of mind and with all tension free mindset a trader may focus on decisions of trading which eventually may get them chances of profiting up to million dollars over the course of time.

In my experience family will help a trader to groom in terms of brain power at least in a level a trader my go innovating new things which will help them cracking more profits out of trading. You do see family and brainpower as two aspects but I am seeing them as one thing or at least as a closely interlinked aspect of trading which improves traders capability and efficiency at greater levels.

Quote from: RahulBaria1987 on June 08, 2020, 07:24:55 AM

These are good key points to be a successful trader. Avoiding lost you need to get more ideas from other traders who has been in that position you are today.

** Lastly don't envy other traders instead appreciate them for their success.

I want to take it in general...
If you are comfortable in trading and have the capability to do it, bigger chances to succeed. Don't make a reason why you fail because of a lack of knowledge and skills because it is not actually the true analysis here. You lose because you don't do anything to help your self and improve your skill and that certainly because you are not adopting the situation and not in your comfort zone. We don't need to curse ourselves and put at risk, better find another way to make money rather than to force ourselves in here.

Quote from: samcrypto on June 10, 2020, 02:16:50 PM

Emotions have no role to play in trading and should be kept away as it involves money and one cannot be at comfort when the money is at stake. So, one should be very careful and be disciplined in trading as it is highly risky and more so when we are trading in volatile markets like crypto. Also risk only the capital which is extra, and you are not depended on it so that even if you lose some amount you are totally fine with it.

Quote from: Yamifoud on June 11, 2020, 11:53:02 PM

If you are comfortable in trading and have the capability to do it, bigger chances to succeed. Don't make a reason why you fail because of a lack of knowledge and skills because it is not actually the true analysis here.

Everyone starts trading as a newbie with no actual capability. Because, knowledge and skill are not inherited things to born with, which means anyone could develop them if ready to dedicate time for it. Instead of looking for another way to make money, I will suggest to go for trading for no cost; in complete risk-free way. There are multiple methods are available to trade without the need of actual money which will definitely help anyone to gain required knowledge and skills for crytpo trading.

Quote from: AakZaki on June 10, 2020, 11:56:03 PM

Maintain relationships with family so they can be more harmonious and hone their abilities and brain power to continue to think positively.

That is true. When we go into something continuously then we may start thinking and behaving differently. In order to make smart decisions while trading we must need "reset" ourselves which is possible only when we are having good relationship with our friends and family. This is the reason we are having weekends.

Quote from: maxreish on June 13, 2020, 01:07:37 AM

Well, somehow those statement of yours makes sense.
Having a good rapport and a great relationship with the family will give us a good mood, positive vibes which can also affect our trading style. It just means if we have good connection with our family, the optimistic relationship may lead to the good impact in our trading journey.

That can impact what we did too, as I believe that can make us in positive thinking. And related to the trading journey, when everything around us can be like that, it will give us feedback, which means we can have a good mind, and that can help us to our trading, and we can analyze without a problem. Maybe the profit will not be bigger than the other people, but there is a satisfying feeling in ourselves because we can get something that we can not say with the word.

The advice is quite powerful and indeed we are obliged to establish good relations with family, especially parents and siblings.
And related to brain power, we are required to maximize the use, that's what distinguishes humans and animals. Your advice
is not specifically for traders to be successful, but for all jobs. I have a good relationship with my family, but I have not been
able to use brain power to the maximum. In my opinion, successful people can optimize the use of brain power.

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Economy => Trading Discussion => Topic started by: RahulBaria1987 on June 08, 2020, 07:24:55 AM