Bitcoin Forum

"Getting used to the market situation is the key to becoming a reliable trader. "
is that right? Or not?

What do you guys think?

 I think this is true.
Because this is based on my personal experience in trading.

My first trade. I'm not very familiar with the (crypto) market situation where it turns out that prices always go down and up quickly.
Because of that I became a person who easily panicked.

When I bought at a high price and the price after I bought it turned out to be down drastically.
Because I didn't know the market situation and conditions, I panicked and was in a hurry to resell the coins I had bought at a high price. and in the end I lost.

But here after I know the market is bullish or bearish then I become calmer and don't panic easily.

This usually happens to beginners who are just getting into the world of cryptocurrency trading

I mean, that should be a given, no? Trading a market you don't know anything about is like trying to do a job you know nothing about; it's almost always a recipe for disaster.

Thank you very much for the correction. I have re-edited it.

Yes you are absolutely right. it's a disaster when we jump into work that we don't know about the situation and conditions of the job

You are right, if you are getting used to it then you know what are the right ways to take advantage to the market but in reality it's not always the same since the market is volatile and the situations are either coincidence only but of course if you get used to that similar market experience or situation you would be able to adapt and do the right decision and in result you will become a reliable trader.

It's like getting experience in trading.

Ya... Experience is the best teacher. Like that on trading too. Be patient and dont be greedy is key for be success trader.

Thank you very much for comment on my topic .

that's why it always recommended to learn first and to practice skills before starting in trading because you will end up losing money if you're lack of information wherein it's like you're dashing money for free. So always remember to invest time first to obtain specific information if you really want to succeed. Indeed all the information can be found around the internet easily and they're free so make it as your priority to have a good journey in trading.

You are talking regarding the trend and surel picking out the trend gives you a confidence that you are in the right spot even when the price moves a little against you because it will reverse encourages you to wait a little more. Usually trading against the waves of trend is a risky adventure because it does a little profit and huge losses. So being on the trend always whether bear or bull is a guarantee for profitable trade.

Exactly true there are so many things about which you have to learn before starting trading. As a beginner i know you will be unable to realize that what is going and how you will get benefit in such circumstances as you are not familiar with the market. So in such cases there is always some individuals who faces huge loss. Know about market situation is really good in order to get profit.

This is definitely true. Making research on a project and identify if its reliable is important, but more important is to identify the current the overall market position. Crypto currencies like most other asset classes move in cycles, there are 3 parts in the cycle. A upwards trend, a sideways trend and a downward trend. If we don't pay attention to the part of the cycle we are in, then trading becomes very difficult. Even the best projects are having a hard time in bear markets. That's why technical analysis is so helpful to identify these cycles for us. The real difficulty lies in the prediction of how long the bull or the bear market is going to last.

You never succeed in anything by "getting used to" the situation in that thing. Whether it is a market or a job or anything else. The only way to become successful is to understand the situation first and then come up with useful ways to deal with each scenario.
For example in the altcoin market if you just get used to being dumped on, you will always lose money but if you understand why you get dumped on and you can find a way to dump the altcoin before others dump you can avoid losses.

Right somehow especially if you have the consistency too. You become a reliable trader once you are also committed to it and have consistency.
Some traders especially newbies are just intended to do some trades at the beginning, after losing a few trades or winning, they intended to stop and back again if they want.
Another example is, "the best teacher is experience".

Exactly mate, and I do agree on the fact that getting used to the market situation especially here in crypto is the key to becoming reliable trader. Gaining experience and necessary knowledge on what you are doing needs a constant practice, constant learning because it wouldn't learn by just first attempt. Though we may get already knowledge if we perform primary research but learning through experience is one of the best experiences that a trader or investor can gain through his journey.

This requires research and reading of speculative thread to see what some experts are saying about the price direction and if we follow some of it, dumping or raising of our coins won't be difficult to notice so we can be ahead of others or the market like you said. Especially following bitcoin speculators, will give an edge because bitcoin is the direction that altcoins follow. So the rise of bitcoin is a way to know the cryptocurrency market

Yeah, you will become a profitable trader when you gain real time experiences. At the same time, getting used to different market scenario alone will not help you but you need to learn by heart on every situation so that you could take right decision which will end up in cutting losses or making decent profits. Simply, experience always helps traders as only time could get you that and nothing else.

When you get solid analysis and then clear signals on price levels then you may able to remain calm as you are aware of what is going to happen and what you need to do when market goes against you. So, being skillful will help any trader to remain calm and successful.

Pretty much yeah. I mean, if you don't get used to it, you're always going to make weird decisions backed by impulsive decision making, which is, in general, very wrong. There might be cases where your decision-making would result in something good, but that is in the end, a one-time or two-time thing, it's not always going to happen. getting used to the market means understanding that what is happening is normal for the market, and that you should be able to act accordingly.

It depends of what do you mean by "getting used to the market situation".
Simply knowing the market situation isn't enough.You have make a good technical and fundamental analysis of the market situation and you have to pick the right trading signals.
You also have to take complete control over your emotions and not freak out every time the price moves to an unexpected direction.
Practice is the key to success.Failure is the best way to learn(unfortunately it costs a lot of money wasted on unsuccessful trades,but everything good in life comes at a high cost).
Even the best traders had lost lots of money.You can't become a "reliable trader" on Day 1.

You know we were all wired differently, I must point out that getting used to some situations that is being able to adjust and adapt is much more easier for some persons than others, trading IMO is much easier for such persons. For the others who dwell on situations and don't easily adapt to them, it is going to be a hassle. If you fall into that category, that is the type that don't easily adjust and get familiar with situations, you must personally strive to develop this ability to be able to keep up with the everyday drama in trading.

Since I've known bitcoin since 2015, the statement you said is true. The market cycle has developed rapidly there are new habits emerging and that's very different to what I've got a few years ago. A trader should continue to be able to read the ever-changing market situation. Otherwise they won't thrive and I think they're likely to suffer losses. Of course to avoid losses you should always adhere to a plan about the management of losses.
Bitcoin's habit of being the mecca of movement of all altcoins has been very different in 2015 and now. Maybe if you already know trading that year then you will know. For many years, the market has been very difficult to guess.

Most of traders fail in the market and most of us can not beat the market.

So even if you can become a winner, a successful trader, I believe you will have to spend expensive cost before you get succeeded in market. Especially it's a very volatile market like crypto where there is no circuit break, no margin of changes intraday.

Only you can protect your capital. Remember, protect your capital is your first priority, not gain profit. Because as a trader, you will lose all if you lose all your capital. After losing it all, you will have nothing to do in the market.

Obviously, playing in situations you are familiar with will always give you a big edge in your game. Moreover, trading is all about knowing the market, you have to make trades based on the historical patterns or how price behaved the most recent time it came to that point. You are saying about the market as a whole, I think you should even familiarize yourself with a few coins, read and study only those few coins, study the price behavior of those coins, study how they moved when they touched a certain point. You should be this well versed with the coin you are trading and only then trading can be profitable and consistent otherwise you are just trying to hit the bullseye which you will easily miss.

There's no pattern if you do ask me because market could really move out on random way just like into those old years on which it couldnt really be predicted until now.
The difference we do have here is the level of recognition and adoption on where it do add up volume and liquidity which is really great and as a trader or investor
then you should really get yourself get used to it and getting those things via experience is the most common way.You wouldnt sustain this
market if you dont have sufficient experience since you wont know on what you gonna do.

No, not all the beginners are not losing in crypto trading because being a beginner is not your mistake but getting into crypto trading without practicing in demo market and then without proper knowledge and experience must be your biggest mistake which was the simple reason why you faced losses.

When you are good in technical analysis then there will be less possibility for you to get panic and to react according to market situations. You must learn all the required skills of technical analysis and then you should practice in live market with very least capital; after these if you enter into trading again then you will be able to make profits without getting driven by market fluctuations.

If you aim to be more profitable in trading, then you should have to be more familiar on the market scenario and get used to it. Not only that, you need to understand too why such scenarios had happened and what's it causes. Because it will certainly happen again and again so you have to prepare for it so you won't committing the same mistakes again. For newbies, trading will be tough at first because they are new to the market and is not familiar yet, but once they become used to it and knows the reasons why they are happening, then they will know how to dwell with it, by not being panic and keep patient.

+1

the thing is that the more time you spent trading in daily basis along with level up the knowledge .. the more experience you gained that leading to minimize the risk as crypto market alone is a super high risk market among others so yeah you might ended up in loss most of the times.
if it was what you mean op , i think it's an absolute yes.

Of course, if you have nothing left in your wallet, then you can't perform trading anymore. The point here is if you have been trading for long, you might have been aware on the consequences of the market when trading, but as your experience grows, you are also growing in your part not just of profits but also with the knowledge on how the market really looks like. As long as you get used to it and be able to understand its pros and cons in trading, i think that will be an edge to refrain your from committing losses.

Getting used in this crypto market is based on personal experiences.
I mean that the more we know the jo and activities, the more we can understand and know about what we are doing, understand the risk, understand the positive and negative sides, understand what to do and not do.
Especially in trading crypto in which is very risky, it needs some personal experiences to be usual in trading and we can set our strategies, metal, emotional, and also other types of management to be better and better.
The most difficult thing is maybe when we are just starting, we may experience many losses, moreover if this is a new thing for us. that is why, always learn at first, learn and learn before we are umping into this crypto world or even other new jobs.

Yeah, instead of getting used to market conditions with big capital and losses, all the beginners must be having alternate methods like you have mentioned to experience all the market fluctuations and to get used to them to gain all real time experiences like professional traders. But, not sure why beginners never consider demo accounts and out of greed, they do start with huge capital and then lose them very quickly.

Yes, learning should be the very first thing for crypto trader. When beginners are not patience to spend time and efforts to learn all the basics of trading, they might be never fit for highly challenging trading career because here everything is a test for our emotions.

The more experienced in the crypto world, the more we will understand how the crypto world works. So it will be easier for us to understand how
to make a profit when trading crypto. In order to have experience in the crypto world, of course we must dare to start trading crypto, and get used
to starting with small capital. So when we experience losses, we will not be stressed and can consider the losses experienced as learning costs.
It doesn't matter if we lose a few times when we first trading, from there we will begin to learn to correct the mistakes we make, until we really
understand how not to make the same mistakes and can generate the profit we want. So don't be afraid to lose when trading, because it's part of
the learning process to become a successful trader.

Rather than the market situation, the key factor is the trading part. Its impossible to know the market situation on an instant basis at all times, just like you can never know if someone is about to sell hundreds of millions of dollars worth of coin in the next minutes. The best trading strategy you can provide for yourself is not to become emotional and never to sell because of emotional thinking.

As long as you're not driven with greed or emotions, either in trading or in investing, then that will create positive results. In trading, you cannot guarantee making gains all the time as there will be inevitable losses even if you say you are an expert in the market. But if you can get used to the market situation and be able to understand the cause of every price movement, then it will always give you an edge to win over losses as you know already when is the best time to trade, and what coins will be most likely to be profitable in trading. Just stick to your plan and never be motivated with greed, i know you will attract good profits in the end.

This is the reason experience must be vital skill for any trader to have for being profitable in consistent manner.
Because you cannot turn experienced on the moment you decide about it but you need to be working hard and need to remain patience to gain knowledge and experience over the time. This is the reason even people are good in technical analysis facing losses due to lack of real-time experiences.

Getting used to market pressure will help anyone but at the same time you should focus on learning from your mistake and if you are not gaining any real time knowledge from your own experience (which happened due to your mistake) then staying with market for years may not make any differences.

I agree on you. It does not make sense even if you've been trading in the market for long and yet, you are still making the same mistakes again so most likely, you are still end up losing. Experience will always matter the most. It will help us enhance our trading skills by leaving us valuable lessons to learn and not to do the same mistakes again. And definitely, with our trading experiences, we get to understand more the market that will help us to improve more our trading strategies.

It is getting right, but not all. What I mean is that we can make use of the situation to take advantage but this never means that we become a reliable trader, maybe it was just a good trader with a good strategy. We'll have the chance to become a good trader but that was too hard to become a reliable one. Ain't that easy...
As for what I know about reliable traders are knowingly more than usual traders and they can make adjustments very fast. That is likely we can expect more on the gaining side than losing dollars.

Getting used to the market situation is not enough to get a successful trade, because "fake outs" always exist in charts, you thought it was going to dump, but it didn't. In order to make a profitable trade, a lot of things should be right, first is of course your technical analysis, that's your biggest money in trading. Second would be the stop loss and take profit, without it your greediness would take over and will take away all of your money in no time.

Many people nowadays are seeing trading as just a basic thing like predicting the market trend and you will get a good profit with easy money and higher leverage but no as you are now deeply understanding how the market and the cryptocurrency works this might help you to lessen the possible risk to lose your money. Lossing assets are part of it but of course, analysing the mistake lessens the risk. Ride the market when there's a proper signal skip when your doubt.

This is why some people recommend demo accounts where you can practice your skills before you trade for real, now I know it is not the same thing as you do not get the same feelings of anxiety that you get when you are using real money, however demo accounts really help you to get accustomed to this market and its volatility, and this is important as a great deal of people that think they could get some profits in the market quickly find out this is not the case as they panic as soon as the market begins to go down a little bit.

Market conditions driven market pressure is not same for every trader but it is purely depending on your open positions; which is the reason many traders are claiming like that demo accounts many not serve the purpose of gaining control on our emotions and risk managements. So, just watching the fluctuations of bitcoin market may not help any trader to learn something useful for their future trading but when you trade yourself and when you work hard for profit making then you may find many life long useful lessons for sure.

Similarly when you trade more frequently then you will develop the habit of right decision making even under pressurizing moments. Timely decision making is more important for any trader because for active trading, timely action is more important than technical analysis. Getting used to market fluctuations must be always a key; no doubts on that.

I ask a question based on this, can timely active trade override technical analysis ? No is my answer because technical analysis is a direction for trade to be made for an experienced trader. Again on that you can't get adequately used to the market fluctuations without  the technicalities of the market this is what is important. Taking note of the graphs, charts and indicators is important to check the fluctuations.

Well said, I completely agree with you. There is no doubt that being familiar and at ease with how the market works is an edge because such situations that may be encountered won’t be much of a drastic surprise that could disrupt everything. But, for timely action an decisions to be made, the technicalities of the market and thus the ability to analyze such next rise or fall is important. And so, getting used to market situations is important, but it is everything, and it does not end there to become a good and reliable trader.

Losses is actually part of it and doing analysis can reduce it, yes I like that response . It should give newbies the confidence that if they do real time research and study the market then profit will be higher than losses. Now the market is bear but it doesn't stop good traders to keep getting profit out from the bear because they do a real study and do research of the market.

And it's applicable to everything we do in life, for anything you venture into with no or little knowledge, the outcomes can never be compared to stuffs that are done with well packed and articulated knowledge, it's very obvious. You want to do something and stand out at what you do??

Then study 1st, ask questions where necessary, get to learn from people's mistake and be ready to unlearn too

Know what you want to buy and don't let it follow the ambition of advice from people who already have a field far more than your knowledge. Don't be in a hurry, there will come a time when you will understand the market situation over time. Knowledge and a combination of experience will be more effective. Don't feel lost, because that's when you gain new knowledge, no matter if you lose or whatever, because the process will ultimately be a valuable lesson that you always remember that wrong decisions in the past make your trading more structured in the future.

I think it's true because as a trader, everyday food is a crypto market. Seeing the market going down is a common thing for traders but it may come as a surprise to beginners. it's okay, all come from beginners and eventually learn and keep learning until finally become a good trader. At the beginning of joining, it was not easy for me to accept these ups and downs in the crypto market, but as time goes on and in our career, we will know our own trading flow. What strategy is right for us at certain moments will we get when we are ready to learn and learn more to trade.

Exactly. With further experiences in trading, either good or bad, it will always give new lessons for us to make our trading more improved in the next days. Trading is a step by step learning , and the making of a good trader will always follow a process starting from a scratch until success comes in. So there's no need to rush in trading, we will all get there if we are more patient and becomes more knowledgeable in trading.

Trading is not just knowing about the market situation, but trading is how you can analyze the market and predict where the market will go. Technical and fundamental analysis is an absolute must-have knowledge for a trader. and trading hours are very necessary so as not to panic too much when the market is not as good as it is today. Not only beginners will panic, professional traders also panic when predictions don't match market conditions. Psychology will play an important role and everyone has a different level of psychology

Everyone knows that in order to become a doctor, you need to study and in order to become a pilot, you also need to study, etc.But contrary to this, it is widely believed that you can immediately become a trader trading with profit without training. Yes, this way you can gain experience, but such training will be very expensive.

That's a very precise point, that most novice traders always equate their trading with those who have an early understanding of the trading cycle. The point is we will reach the process gradually. The thing that needs to be avoided is not easily obsessed too much. because trading highlights the personal character of each. If a person does not learn to be patient, it will be seen from his trade that he always buys and sells in a hurry just because of a temporary increase.

But you can really compare trading without knowledge will most likely end up losses, unlike trading with first hand knowledge that will give them more ideas on how to trade the market successfully. But still when knowledge is gained, of course there should be practical applications that will follow. And having real life experiences from trading is always an edge because it makes you understand what trading is all about and you get to learned lessons from various experiences that will improve you trading skills.

That's why trading is not an easy thing to do, because to be successful when trading we have to do several things. It is not enough just to understand
the market situation, but we need other factors in order to generate large profits when trading. For me trading is quite complicated, because it has
to combine several things, which cannot be achieved instantly. Such as analyzing the market, controlling emotions, and managing finances are things
that we must master if we want to become successful traders. Sometimes we need to lose a few times first, so that we are aware of the mistakes
we make when trading and can prevent them from happening again in the future. So never stop learning to trade, and don't be afraid to practice
trading regularly. Indeed, to become a successful trader we need to go through a long process, so we must be patient through the process.

People wont believe it until they do really fucked up thierselves with the reality.When you are engaging on the market then it is really just normal that you would really able to face up situations that you havent experienced before and on the times you do get awareness and experience then you are really making yourself way more better.

Knowledge and perseverance is the key on whenever you do engage on something like this then being sensible
on what actions to take should really be your priority.

If you do want to become a better trader then you should really be versatile in all situation that you might be facing on.

Yes, and the funny part is most people don't know it yet rushing straight to trade like buy high then sell low just because they've seen a trend. They were all blind of what was coming and what they just did that's why a research to have a proper knowledge about the market will always give us benefits to take advantage of what most people didn't do.

I mean, that's how it works, right? People who doesn't know what they were doing will most likely going to lose and that would be a profit to someone.

This is important, when it comes to trading the markets we are all going to make mistakes, that is inevitable, however how do you react to those mistakes is the key to all of this, there are people that make the incorrect prediction and it is as if it is the end of the world is happening exclusively to them, and if for some reason it is and you will lose a massive amount of money because of it then your money management strategy is terrible and it needs to be reviewed, as no single loss should be devastating for your account.

The type of coin you hodl will determine how you will panic when the bearish market hits hard on cryptosphere. I only have a relaxed mind if am hodl top altcoins in my portfolio cos whether good or bad the market must bounce back to their favour just a matter of time and patience. But as for newly created altcoins, I shiver cos I can ascertain what the future holds for them during the bearish market

If that the case then we should all in to top coins in the market rather than risking our money for new coins, but because it's new coin some of them easily gain more than 100% in a few days and many people looking for that, an easy profit but high risk. If we know the uncertainty of new altcoins and we are afraid to take a risk we wont put our money there but in the reality many people depend on their luck and hope for 1000% profits. 

That is the main issue I have with all of that, newbies with no experience and knowledge want to obtain huge profits, and while I can appreciate their ambition too much of it is dangerous as it leads people to take decisions of which they are not completely aware of the consequences, for newbies even buying and holding their bitcoin will be difficult, but since they decide to buy new altcoins when the markets are presenting the highest volatility their failure is almost guaranteed, as they will be unable to hold their altcoins due to the panic they will suffer when the price begins to go down.

What happens is that to diversify our money we need to know how to choose the right coins or tokens, however at this time the investment 'can falter because the market at any time can make a bearish movement, so you must be prepared to see the equivalent in fiat going down, you just have to know how to wait until the BTC takes its bullish trend and be able to see benefits, but until now you must have a psychological preparation that the price will go down.

Not knowing what you are doing is like recipe for disaster, the more you swim on the ocean the more swimming skills you will get to go with the flow or not. Having a working trading strategy is not enough on this volatile market, you have to make your decisions according to the trading plan and never chase your losses. Cutting loss is the key here and you have to be patient to take profit if the bear market takes so long. In your situation, you have to wait for the higher price levels and put the limit orders above the key resistance points instead of selling early.

at first glance it's good, but in this case a little advice from me in trading is when you buy then do a simple research on the crypto currency you want to trade as a basis for evaluating how far it has developed and what prospects you will get from it.
a little bit of it will help you not to panic when you see price movements and can discuss with the cryptocurrency forums that you hold.

What you have said is true if you are going to be a good or reliable trader you should know what the market situation and you are aware of what is going on since with that situation you are going to make a strategy and if you are not aware with it or you don't know what's going on in the market I think you can't be a good trader. So yes understanding and having experience to different market situation is one of the key to become a good trader.

ya.ya.yo!

The OP is actually on point when I started trading I always made profits rather than take profit and close the trade I leave it to earn more profits, however the price reverses or pullback thus ended up losing some money due to the fact that I haven't studied the market situation especially with regards to the high volatility of the price.
After some time I studied the market very well especially candlestick patterns using the daily time for my analysis while moving down to 15 minutes timeframe for entry and profits taking using Bollinger Band indicator basically TA and follow up with fundamental analysis.

Well, definitely it is. When you're used to the market, you're aware of how it goes and it's like an easy thing to you anymore. That's what happens when we're used to things. Being reliable depends on how good you are, how experienced you are.
And with what you've experienced, everything is going to dependent to you and when you end up with good results, that only means that there's something that you get to understand as you trade.

It would really be just normal that whenever you are really aware on how things do works or on how it do behaves then you wouldnt really easily freak out
which it would really be just normal for you to deal off with and thats really one of they keys on which you could able to handle yourself well into this
place  or anything you are tending to engage on.Real life experiences on certain things will give out some idea and true engagement
which would really make you learn.

There's always an advantage if you are already familiar with the market situations, than to start a trading without even a good experience from it. But for me, getting used to the market and learning from all the mistakes we did will eventually contribute to a more successful trading, as we will never be making the same mistakes again. And once we start understanding the market, we can weigh things which strategies will work or not, as we can be more productive and successful traders if we will come to ride the flaws of the market and manage the risk.  

That is right, there are a lot of things to learn before you start trading as a novice if you want to be successful. Trading is all about understanding the market, you must trade more intelligently and skillfully to safeguard your capital before obtaining profit. It is not easy to trade, and many of the finest traders have lost a lot of money and that is why it is very advisable to learn and practice skills before beginning to trade because you may end up losing everything if you lack expertise.

That's the advantage of the traders that have been known to what they do. It's easier and you're more calm when the market is dipping. But more to it is you get more plan of action and the reaction you do is always in timing and correct. You become more reliable unlike before that you are not used to it.

I agree to you, counting those mistakes will help you to be a good trader but that's part of being used to the market. As you become used to the market, you're gaining experience and that's included on it.

It is an easy thing to say but a hard thing to do. Being a reliable trader who knows how to act in what type of markets have been a difficult thing. I know that most people have some sort of strategy that they follow, and that is why they are not really doing a proper job but at the end of the day if you have a strategy and you are sure that it would work even a bigger risk is to get out of your strategy.

Finding a new one would be fine, that is not a problem, we could always have a new one and we could always use that but we need to make sure that we follow it, because if we do not follow our strategy and not just change it, but just not follow it and do some silly reactionary thing then we would lose all of our money.

Open order is executed due to volatility as soon as the market is open to understand the trading market in advance. An experienced trader can go to profit by making perfect judgment at this time. But apprentices are advised that the first 15-20 minutes of the market start, the time between market hours is less volatile to understand the nature of market movement and the volatility is seen to be revived as the last hour approaches.

Never ever start trading with the aim of just trying,
making a wrong decision when trading it will make us lose money especially for someone who does not have basic knowledge about trading,
so prepare everything first before starting to trade

My answer is no. You can't be smarter than the unpredictable market. Risk management is way better than calling ourselves as reliable traders. It's good that you have experienced that by yourself, but that won't happen always or most of the time. Not even the so-called trading gurus or "experts" there are accurate in their price predictions when trading cryptocurrencies.

Even experienced traders, they are having a shortcoming with trading. It's not that everyone is secure with profit and despite having the experience, they still make some mistakes with their trades. Mistake in a way that they're losing a trade and didn't anticipated some overturn has come. This is very normal and about the market hours, it is 24/7 open so there's really no connection to it when you've become reliable trader. Whether you trade day or night or you have some allowance in time, still it's all up to you.

Yes, I agree with you if understanding the market situation is the basic key to becoming a reliable trader. When you know what the market situation is and can take the right steps or strategies you can get big profits and vice versa. Moreover, in determining when to buy and sell coins, this is also an important point that you must also hold on to. The problem of timing in crypto is closely related to patience because sometimes the market moves slowly so you have to be prepared to wait for it to stabilize again.

Getting used to the market situation without learning more about trading will not work for you because when the market moves but you do not know what you should do, that will not help you anticipate or have a chance to make a profit. No matter if the market is on a bullish or bearish trend, you will not know when you leave or enter or even stay at the market, which can confuse you. But you should not worry because you are not alone as many new traders and experienced traders can panic when the market moves out of their prediction. So at least, you should learn something related to the trend so you will not make a wrong decision.

Experience comes from practice... more we practice more we get used to the changes in the market and how to act accordingly! One thing we must learn is to keep the head cool and have strong hands! It's learning how to feel comfortable even when rocks fall around you, you are trying to get the best from dip by buying when others are selling in panic, and to selling when others think it will grow more!
In the end, becoming a reliable trader depends on many factors, I think anyone should be free to try it to see what will happen!

The longer you stay the better you get as well, that is a key factor. Even if you are amazing at the very first day (which nobody really is) you get to be even better in the future. I have met with a guy who started out with 0.5 bitcoin at first, that was around 1k-2k at the time of course, and then he turned that to 8 bitcoins over course of 2-3 years, and then he turned that into 100-150 bitcoins just from last year to this year as everything went up.

We have to remember that we should not compare ourselves with other people, we should compare ourselves against old selfs, that way you can see if you got better or not and if you do not get better for a while back to back, then maybe you should change some stuff.

I agree about having cool head and being a strong hands. There's another call for having a strong hands these and that's having a diamond hands.
As for the experience of a trader of getting used to the market. The one that's likely to succeed is the one that have more failure than wins. Having more losses makes that trader learn on where he's wrong and what he must do to avoid it on his further trades. That's why when you ask successful people, they have a lot to tell about their failures that they've used as a ladder to their success.

Yes ofcourse,knowing all about trading and how it works is the first criteria of becoming a successful and reliable trader.One that has zero knowledge about trading and how trading goes can never be a successful trader.
One must be acquinted to the dynamic nature of the market,when changes occur and  and when the market is stable.These and many more are things to put into consideration  while trying to be a reliable trader.

Chasing losses is probably the number one reason why people lose money in the markets, most people have a decent strategy when it comes to trading the markets, however when it comes to applying that strategy that is when people fail, after all they see that their trade of which they had high hopes begin to go against them and instead of simply selling and accept the small loss they keep holding thinking that things will turn around, but they do not and if they were using leverage they run the risk of getting a margin call and their position being closed forcefully.

Just like in gambling then if you do chase your losses or trying to break even or trying to recover losses would be the biggest mistake that you could have which you should really be aware on that kind of behavior

which could really cause for you to commit out mistakes just because you do really let yourself get minded of on how to recover immediately.If you do tolerate out that emotion of yours then you would definitely
be having some problems later on which could cause even more losses on the time that you would be having a hard time on accepting it.