Bitcoin Forum

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Discipline, Patience and logical thinking(or an attachment to the affairs of whatever you're trading) I notice many new traders in Trollboxes on exchanges panic sell or sell too early(including myself, I'm more passive). To be successful you need to void your emotions and endure losses as learning experiences. To me, at least.

Yes at least those two characteristics is a must the Discipline and the Patience when a trader does have that two characteristics then it will be easy for him to be a professional trader because he will able to manage the risk properly and get the things done in a proper way. Having patience and discipline is the best key to get a lot of profit.

I confirm these characteristics. You should have the discipline to become a professional trader, if you don't have this and if you are so gullible with what's the people are keep on telling that an alt will be pumping soon, you'll lose discipline. Patience, it's a normal thing that you need it since the market is slow when it comes to pricing but you need it and always be calm when you see the trades you've got seems to be collapsing. And last, logical thinking, you need to study on how the market cycle works.

Troll box wa designed to confuse newbie traders. Thus, I disregard every chat in a crypto currency exchange. Once a trader learned everything such as precautions in holding such a coin, it would maketh them be a better trader that would lead them tl gain such profits.

To be an expert on the chart analysis. I guess the important aspect if the newbies must learn to gain more experience on the Speculation and analyzation method.
Another important aspect such as the nature of the person. But they must have a good mentalism, it will Prevent get the feeling of panic and fear to the market movement.
Be a careful person.

To become a professional trader I guess the most of important thing is that you need to experience downs and ups by yourself.

Because even you want to become professional trader by you don't experience on how to fall, you don't know how to learn new things on it.

Once you already had it, you will just learn the next important things from that lesson which is going to make you good.

Timing,patience,knowledge and everything.

I think newbie traders should know atleast the basic of reading of candles so they will know if they need to BUY or SELL a certain coin. Also from how to read candles using different time frames, 5MIN, 30MIN, 1HR, 2HRS, 4HRS, 1DAY, 1WEEK, 1MONTH.

Check out the pattern below.

https://i.imgur.com/UocZazY.jpg

We must have system trading (trading plan/rules of trading that can give constant profit from trading) to become a professional traders the caracteristics to be developed, how to control feels greed and fears on trading activity, it related with physicology trading, the professional traders very understand about system trading and physicology trading.

Do these candlestick patterns apply to Bitcoins and altcoins? Basically what I'm asking is do the trading patterns of cryptocurrencies follow the same trends as stock market trading?

The caracteristics to be developed is patient wait following the trend of price, if the markets is up trend,
they will be entry in market but if the markets is down trend, they will be patient wait and see to entry market
if the trend is back to up, they never against the trend of price.

Yes candles of Stockmarket, Forex ,Bitcoin and even Altcoin functions the same. The difference is volatility.
For example, heres the current candle for DNOTE at Poloniex using the 24hrs (Day) chart. Did you some bullish pattern from the graph? And yes the price keeps pumping.

https://i.imgur.com/HWHDPkd.png

Once you see a Bearish pattern, expect it to DROP , so you need to sell.

well it is hard to say, when it comes to cryptocurrencies they sometimes work and sometimes don't. in bitcoin they work most of the times and is good to have it in mind and do some analysis there.
but when it comes to altcoins, most of the time they are being manipulated and most of the analysis using candlesticks won't work when there is an unpredictable factor called 'pump and dump" is at play. although again it helps.

There are a lot of thing to learn if you want to become professional, you need to have deep analysis skill and need to understand deeply about the factor that control the crypto currency price, and then with the help of your knowledge and experience then you can become professional trader,and trader need to learn from their mistake so they can become better trader and eventually become professional trader

Definitely patience.

The one thing i've learned whilst doing 2 years of altcoin trading is that you never give up halfway through trades. When I was a newbie at things i would always close out my position 4 days in because the markets are moving sideways.

And when the pump finally comes, i have already sold my coins and i spend days regretting.

When you make a plan as a trader, you should always, always follow that plan no matter work. This will also boost your self esteem as gain more and more confidence in yourself as you follow your own goals and succeed.

Or simply we can say, being ready to learn continuously. When one traders is capable of learning new things both from books and from his mistakes, he will keep on reducing mistake and maximising the possibilities of making profits. Updating skill and knowledge is more important for becoming a professional trader.

Yes, there will be no perfect definition for being a professional trader, but we can assume if a trader who is not making losses often and able to make consistent profits on weekly or monthly basis could be considered as a professional trader.

i think the most important that we should have is patience because every time we see the price is getting down from our buy price, we can get panic and then we are doing panic sell. be patience is something that we should manage and handle as we only follow with market movements so every time we are seeing the price gets drop, then our patience will be tested. how long we can be patience, its depend on how much you want to wait until the price is back normal again.

use candlestick parttern can accurate prediction bitcoin price or all altcoin price
how much about accuration prediction price use candlestick parttern

To become professional trader it needs skill and have brain also, knows how to read candlestick and have Patience to trade wheter if the the price dump just wait for the next pump
 
Always saying
• Dumps "Love" Pro
• Newbei hate it (think first)

As i can see "newbei" is the reason why always the coin dumps because they cannot control here "emoticons" in short "Panic Selling" so

Well this is the always tracking in my mind when i'm now in trading "Emoticons"

So i just want to say "Don't trade with Emoticons"

These are the "Advantages" and "Disadvantages" when you trade with Emoticons, this is always saying my Mentor

https://i.imgur.com/tWVWGzk.jpg?1

Professional traders both in forex and crypto currencies trading are those that have developed their skills and knowledge on how to trade the market profitably. They always have their trading plan and reviews it periodically with the aim to catch up with market trend and fundamental and technical issued arising from day to day activities of the market.

Very nice explanation, I think emotion really affects the results on how we make trades. For me, trading needs skill, you should know how to analyze and monitor the prices. It needs patience, you can't rush it as you wanted. Other says it is unpredictable that's why it also need awareness.

I think the main core of being the best trader would be the patience and the instinct to when you should stop or still go on.
Patience would help in times to when you cant decide to whether dump or buy more. You can just wait until you have the best decision, at this point you wont have to be forcing your way into just making a little money but can wait for the enough profit where you will be satisfied.

I believe we do not need any emotional nor psychological aspects for successful trading career when we are having very strong technical analysis capabilities. Yes, earning skills about trading is more than enough to become professional traders imho. Over experience, I believe we can learn emotional control like not getting greedy on seeing profits.

Learning trading skills is not possible until we touch live market, so practicing in demo accounts is the basic simple way of becoming professional traders.

As a newbie on trading we do really struggle on the very first place but we should not rush up to make money on trading because its not really an easy thing for you to learn it for a very short period of time.To be a professional better to study the most important things like technical analysis,fundamental analysis and gradually gaining experience on your past and current trades.

Discipline. It will help to develop skills and become professional.
Emotional. If you can control emotional I'm sure in the trade you will make the right decision.
Principle. By this a trader will have a good technique and fundamentals in trade.
Patient. To learn trading takes time, so this must be done in order to become a professional trader.

I think it is a characteristic that should be developed to become a professional trader. If you can develop it all, I'm sure your trading skills will develop gradually and become a professional.

Everyone can be a professional trader. But before that one should have specific knowledge in order to have a good tradings. Like many of us we gain ideas and knowledge through reading topics here in forum so i suggest to read and read to forum to inorder to have knowldege and idea. Then start appliying on a signature campaign  so you can earn bitcoin for you to have capital on bitcoin trading. Bitcoin trading is much more preferable on trading because its value increases dramatically day by day. It rate always change so value exchange always exist. If the support of the community will stay no doubt bitcoin will develop and upgrade for it future to be better.

I think the only time and patience

I can't find the second method :D

yes i agree. So..the things i think must be in trading is:

1. Trading Plan . (ald include ur long or short trade)
2. Feel good for your profit and loss (set your profit and loss easily)
3. Update bitcoin and altcoin news frequently
4. Patience


 

It's a very good thing in the growth of the bitcoin, because if a greater number of transactions in the trading will be increasingly higher growth bitcoin. You need to know that if you want to become a professional trader so the main thing is there on the attitude you do. If you have a bad attitude, like rush or greedy, then from now on replace the position. Because as good as whatever strategy you use if your attitude does not support then the results you get will not be useful
 

This is pretty damn helpful. My new wallpaper, thanks! :D

Some lil tips from well experienced trader: buy low, say high.
All the rest will come along through time.

Trading has many things to follow and the first basic thing is patience..trading results depend on the exchange you are trading and the choice of your altcoin.i usually rely on chart patterns and the news.I choose some coins by technical analysis,follow them on twitter,join their slack..check the dev activity and then enter the coin.i usually never trade when bitcoin is on the move because alts will bleed

yes patience is a basic characteristic but only if it is supported by technical knowledge, otherwise it is stupidity. when you are backed up by knowledge and you know that your psoition at the end will preval, then it is really important. for that there must be a base ground of how trading works

Technical knowledge and perfect timing is the best thing in a professional traders. In order to do that, I agree that they have a good knowledge but there is more than that. A professional always read articles, and never stop learning. No matter how busy they are, they would tend to learn more rather than keeping too easy.

This is the basic in trading : buy low ,sell high.
A well experience trader is using here experience in trading such as analysing market growth and making a good decision.

We always start from a new scratch, from small to big and as a newbie we can be professional too. Experience will teach you on how to achieve your goals  to be an expert. It needs dedication and the willingness to learn and to take the risks.

Yes. I believed in what you said. It is better to start from nowhere to learn and become a professional trader. You just have to be true to yourself  that you can do it and everything will follow. Obviously, it will not a be good ride in the beginning. Few bumps here and there. But the good thing is you grow and learn as you go a long the way. And don't be afraid of the risk, its part of the game.

Only when we are experiencing more struggle with trading, we could find ourselves as professional traders. So we should not hesitate to take risk but it should be in calculated manner. Instead of risking real funds, learning skill could be done with demo accounts.

I believe using demo accounts effectively would be the easiest way to find ourselves as professional traders but we must remember our emotion control will not work if we do not feel the real heat of trading.

True, nowadays here in my country trading in Forex is very trending now in the internet which can be seen most often in a social media such as Facebook, and sometimes they conduct seminars in executive hotels together with registration fee for them to attend the seminar conference ;).

I guess it will be more easier for you to become professional traders if you are ready to follow them. Forex market always having very big advantage of sharpening our skills in demo markets. I believe that is alone more than enough to make our self as a professional trader.

Being ready to learn continuously must be the basic characteristics of becoming professional trader. We just need to be patience to learn different things of trading environment. Achieving professionalism in trading is not just a day job, this like learning a new mother tongue. You need to be preferred yourself like a child to learn new things.

Since this is a "professional trader" topic, anyone with a golden heart would tell how to spot a rising coin, do you have altcoin signals? Any tips where to spot them?

No one will give you that golden tip that you are looking for unless if theres a whale decide to announce they will pump a particular coin but it would be really rare or doesnt happen at all. This is the hardest part on trading on which you wont know on when a coin does move and which way it would go.

Thank you, I thought theres a clue for a rising coin in crypto currency, just like in Forex where there are dozen of free Forex signals that gives higher chances of getting profit from good placement of position.

That is an ideal situation of how trading ought to be, but the crux of the matter is with how to recognize a low price for buying and a high price good enough for selling? The books and other resource materials would do their bit in empowering newbie to trade, but to become a better and profitable trader, one has to spend quality time putting what they have learn to practice in live trade, only then does lot of things become clearer for a trader and that takes some time and not learn today and become an expert tomorrow.

experience is important the profesianal trader always has a long experience which molds him. emotional Intelligence mean can control the emotions of fear excessive when there has been no change in price and things analysis like read candlestick.

As to me, the best trait which you should develop to be a successful trader is to completely detach yourself emotionally from the process. The most common mistake in this regard is when you think that you don't care while in reality you do care deep inside. In other words, you can't tell or order yourself to get free of emotions, you should really feel like being void of any emotion. When you become emotional you are prone to a multitude of possibly fatal errors. Emotions may be good in love (though even that is debatable), but certainly not in trading

This is basically how market fools most traders, i.e. by making them emotional (greedy or scared, or whatever)

I do not think hat a person can become a professional just by asking and developing some characters in them but they have to get admission in a special institute where they will be trained by other trained and professional Al traders

its still much better to learn it by yourself mate, asking some help will need you to invest money most of the time its expensive but if you invest your time and research about how the alts moves and what are those particular things that affecting the project, its hard at start but if you have strong will you can also achieved and became pro.

To become a professional trader, that person needs to go through a lot of basics to be learnt like learning through the losses, always using stop losses as well as take profit margins, never trade in an immense way like doing it continuously but should do when an opportunity actual strikes, should never tip anybody unless they can initiate and remain in that trade till they reach the goal. ;)

In the event of a pump and dump: You'll notice a sudden high increase in trade volume in a day, prior to the (usually)next day which the price will rise by at least ~80-90%. This is pretty much all you need for trading altcoins if you're doing something similar to day trading. This is a strategy I follow since it's hard to follow up on altcoins due to the lack of news/events. Generally the price in altcoins rise over time.

It's common since they are still on early phase of doing trades.

Being a professional one means a trader already established a good trading experience. Mistakes and losses are part of doing trades that's why to overcome or minimize that, every traders must learned a lesson out of that mistakes to prevent future big losses in the future.

Continous doing of trades will enhance our trading skills and while building experiences, we can slowly make our own analysis without the help of other traders.

Even a professional traders are sometimes experiencing a struggle to gain profits especially if the volume on a certain asset/ bitcoin/ altcoin was on a shaking party scene. That is a common challenge for a traders, newbie, average or professional one.

What characteristics should be developed? Honestly while people are engaging themselves in the art of trading regularly, they can developed their trading skills without focusing on a single or couple of traits that a professional must be. Just put some seriousness on this profession and don't take it as a joke. If on some cases that a trader isn't developing well their trading strategy even they are in the business for a long period of time then trading activity is not appropriate for them

I believed that to be a successful "professional" trader one may look at it as your business. Meaning you have to engaged in it full-time and with all your effort to learn this profession. Otherwise, you will just lost a long the way and will give up. And yes, its no joke because it involves money, a lot of money for big time traders. So if you feel you can't devout full time then look for alternatives because trading might not be for you.

There is nothing wrong to admit that forex trading can be insanely helpful as a training for trading with cryptocurrencies, at all you trade pairs in both places, for example USD/GBP on FX and BTC/XMR at any crypto exchange.

Good trader should never let emotions to touch him when he is making plans for further activity, same with executing orders.
Stick to your technique, do your trades calmly and observe what are the hottest topics among the rest of the community and with enough courage and determination, you might start reaching your goals

First off, you should have some capital to begin with, no matter how small it is as long as you would be able to initiate trades. You don't have to go and get btc trading that fast since altcoin and btc trading share the same principles too. Next, you need discipline and control with whatever you are getting since if you don't have any, you will just end up spending them in nonsensical things thus defeating the purpose of you trading. Also, you need to have guts as hard as steel and no fear of losing money, ready to take risks whenever possible.

The biggest thing you need to professionally trade is a big bankroll. Once you have enough money to invest, you have to have patience to know when to buy and sell and you need to study the charts and news for any coins you want to trade.

Big bankroll without big balls to risk all that worth nothing! I know about patience, but when you are investing big I doubt that you have same opinion like now, when your legs are shaking from uncertainty in final result. Big balls are the first thing that professional trader need to have, to be ready to risk in any moment. In what he will invest leads us to other characteristics that person need to posses, that is knowledge about community, how will community react on some news, will there be panic selling or maybe buying, he need to predict that and act immediately.

You need big balls when you are gambling, not trading

If you feel that your legs are shaking and your arms are trembling with fear, you are not trading you are in fact gambling. If you feel like that, you'd better stay away from trading altogether, since it is obvious as day that you are set to lose and will surely lose. This is a first sign that you do something inherently wrong. There is no use in taking risks, trading is about reducing risks actually, though it may look as if someone has huge balls and goes for insane amount of risk, in reality, he just may just know what he is doing and certainly more than you. Regarding patience, you are obviously confusing surety with it. In short, things are (often) not what they seem to be

I too was a newbie some time before. Most of the Newbies make a mistake by selling the coin quickly. They think of small profit. None business can give you a lot of money at starting but first try to learn patience. Trading highly depend on patience. You can also use some tricks in trading to gain some extra money. You can  register on multiple trading sites like cryptopia, yobit, etc etc
Check the price of coins in all trading sites. Some coins have huge difference in alternate sites. Just you have to be spontaneous. Quickly purchase the coin on low price and transfer it to a site having high price and sell it immediately there. NOTE- kindly also calculate the transfer fee in the profit. You can earn high by this trick if you invest high. Small coins will give you loss using this.
Thanks.

This is called arbitrage, thanks for letting us know

The main problem with altcoins is that the big discrepancies between prices of the same coin at various exchanges are not there without a reason. There are enough arbitrageurs in the markets to level out prices pretty fast if it were worth time and effort. These reasons may include but certainly not limited to withdrawal issues as well as high volatilities. For example, Cryptsy prices back in the day looked pretty attractive for many arbitrageurs but it was a hell of a job to withdraw coins from there (and this was a clear signal on its own to stay away from this exchange altogether). Another reason is devastating volatility, so even if you can withdraw and deposit coins fast enough, the price will likely change even faster, so arbitrage loses all meaning and becomes an exercise in futility (since you can't be sure that the price will still be there when your coins get credited to your account). This is not to say that arbitrage in cryptocurrency markets is not possible, it simply means there are more often than not some hidden reasons why it looks easy at the surface while in fact it is not

Professional traders are not born but they are made! to because a professional trader you most developed you skills through practice Account or demo trading. you most be experts both in technical and fundamental analyst and understand money management rules.

If you are trading alts, look for a coin that is liquid. Check that the daily volume is bigger than the buy and sell orders stacked up, otherwise you could be waiting weeks for your ordes to execute.

The top ten coins tend to have plenty of activity, and you don't need pumps to make a profit, just daily volatility.

someone will be professional when they have tremendous skill. and the experience is a thing that makes us have the skill. formed a professional trader of experience that is so long.

I would say today is very hard to be professional Bitcoin trader. Trading is not anymore as it used to be, it requires many knowledge, skills, experience and full dedication, almost 24/7 presence at the market. For me professional trader is one that is able to make for a living with Bitcoin trading and I think there are very few of such people.

How can you say the trading bitcoin or becoming a professional trader of bitcoin is too hard? For your information, Bitcoin trading is not that hard because it is easy to understand and you just need to study the basic fundamentals like reading charts, analyzing the news or updates and so on.. you don't need to spend 24/7 in front of the computers that you got, you can trade within a minutes or hour and still make a profit.

Trading professionally is possible if you are ready to spent time and money on your skills and knowledge on how trading work.  you need to also developed your patients and loose management skills as this form integral of successful trading. never go into place an order without plan and advice knowledge of what is going to happened in market.

im learning trading too until a month. Almost done with reading , then i will do some paper trading ( not for long) and trade  Forex etc. I found  few pro daytrader streams  and its help a lot ! For exemple   they gave me somes great site for begining :  Babypips  Tradingview  and Myfxbook
I'm learning on internet for  free but i will pay for some follow-up .
Marathon just began for me ^^

And besides all this, you need to have a lack of emotions during the trade and tremendous patience.

Professionalism depends upon the skill which is gained by the hard work over the time. No matter how much you have knowledge of things and trading, its the practical experience which gives you real insight and make you a successful trader.

professional traders and successful traders are  a rare breed,there are many so called professional traders who are proud
of the amount of books they have read and the amount of time they spent trading
as for me a successful AND professional trader ought to have these traits:

1.keep records and calculate your profits and loss carefully
2.always have a clear plan in trading
3.be patient,try to control your emotions
4.learn from your losses-they are inevitable and you have to adjust your strategy accordingly
5.understand the market,learn every day
6.like what you are doing,but don't live to trade (or trade to live :)  )

Beginners very often panic and want to earn easy money, but you can not give in to gambling otherwise you can lose all your money and be disappointed in the trade. To begin with, you need to be ready to spend time learning and maybe for the first time in practice you will have to lose some of the funds in order to gain experience and become a professional trader.

First, must be set our goal to become a professional trader in future. Hard working is the most efficient method of learning about trading. There does not require a lot of capital only meet some requirement - Analyze trading behavior, good activities on marketplace, follow those who already proved himself like this, anyone can trade like a professional trader.

Don't set any target, just learn all methods in trading, if you lose some money also don't worry you will recover it in next trade. It is possible in trading. Every mistake in trading will teach you a new lesson. So to become professional in trading, you should trade and solve all problems. When you will never get lost in trading long term. Then you become a professional trader.

Becoming a professional trader doesn't mean you didn't lose. Becoming a professional trader means that you are more precise and hands on on your trading. If thou must trade and lose your money, don't cope for recovery's sake but cope for your goal's sake. Being a professional trader doesn't measure by time and experience, it is his way of trading that matters.

Without goals, there will not be a serious and responsible approach to learning and applying knowledge in practice. The goal is a successful pledge to learn new knowledge.

Each one of us do really have a goal and we should really set it up on trading and yes if we do like to engage to trading we do usually have target goal which is making money and we do know that trading could really give us these opportunity  but it wont really be an easy task hence we would really need to eat rice and does need time for us to learn.

Professional traders may be seen from their patience and thoroughness in making decisions. because, professional traders have a tremendous opportunity to get a big profit, because they are very eagerly waiting for it. they are not quick to panic with the situation, as most traders will sell the coins they have when the price goes down, or up, but did not provide a profit that much.

Precision is an important requirement as well...

Not just in trading, everywhere the professionals/experts are not born. Only through hard work people do turn professionals.

Trading always requires smart work, one of the smart work we need to do is getting experience the every aspects of trading for free of cost, yes experiencing in demo account for each and every different possibilities of trading situations will make any trader as a professional trader.

What do you mean exactly by "precision"?
I guess that you are talking about timing in trading.

Ineed, it is very important because in some cases, if you execute the trade a few seconds later because of not being precise, and possible also because of the lag you may get your profit lowered a lot, or even lose it!

It is crucial to be quick when there are essential events going on the markets (at forex, the price sometime is extremely volatile) such as news about pay rolls, etc,

Sometimes, we also have to do cutloss to avoid bigger losses. Yeah you are right
that patience is a major factor for us to be a professional Trader.
Without a patience we often will be loss than profit.

Precision could be accuracy in our trading calls, yes when we are capable of generating trading calls with more accurate price level, the possibility of making profits will be much more and easier.

Honestly, time is real money in trading, if we miss out an opportunity, we will never get back or our profits will get diminished according to our delay. Precision could be time related as well. But I believe I never make trades exact prices I prefer to. I do get only approximate price levels.

Usually in those volatile market, I do prefer to stay away from trading. Instead of getting into the wrong price levels/directions, I always prefer trading in less volatile markets. My precision may vary but I will adjust them with some other trades still with less volatile conditions.

I have always thought that a good trader does not exist without proper money management.
To be able of doing successful trades and making profit on a longer term you need to play only on correct pairs.

It is same about forex and altcoins trading, you won't get the returns constantly if you dont know the market.
In my opinion the risk is bigger on altcoins trading than on the forex, because the markets are simply so volatile. An altcoin like Voxels can go -50% in one day simply because poloniex has delisted them.

People will regret if miss a chance to sell at ATH, but the problem is ; we don't know precisely when this happen unless it has passed.
But, if a traders sell his coins and then next day the price rise up, he regret his decision yesterday.
I mean, people ususally ungrateful and being greedy in trading. So, make up your decision in the early stage (how much % profit you want) and deal with it, at least you make profits from trading.

I think the professional traders personal characteristics was self discipline, self-control/know how to control emotion. Those virtues I think is a sign of professional traders which traders supposed to be have it ;)

There are tons of the characteristics which will be deciding the profit level of one trader. I believe only the profits and the frequency of profit will be deciding a trader as a professional or not.

I'm not seeing only very few characteristics will be helping traders to become as a professional traders because if it is not that much simpler one then we will be having more number of successful traders but actually trading is not working in that way.

Making profits from trading is a highly challenging job and every trader is working hard for their personal profits and in this process they are finding themselves as a professional traders.

The real professional trader need to do many homework, even i can't do it.
They need to build their portfolio, some got customer to funding them, they need to build other's portfolio also and report.
Know financial calender.
Prepare of the big mindset towards company or related industries, check their information, balance sheet etc.
Watch many charts in one monitor, charting etc.
Set their trading time

very high challenging, i try before...

All we need when we do trading is patient when your incopetent then you can make it, discipline to our self know when to spend money by investing it from altcoins y'll can be a professional trader as long as we understand everything we do from it controling emotions and wlling to wait for the result.

Precisely, the main things that must-have is patience. Because patience is the Foundation of every action will be done, if we are not able to control or have no patience then most likely is we get a big loss, let alone a trader is a job that should require analysis and precision, then from now on should be instilled a good soul and always think of all the things that concerned about long term plans
 

I guess self control and self discipline are the things which are useful for preventing losses but has no importance for generating profits in trading. But professional traders are being identified only through their performance levels especially by profit levels. Skill on profit generation is more important for becoming professional trader.

Becoming professional trader nothing but becoming experienced trader. People who are just forgetting their trading experience will never could become professional trader imho.

yes professional traders has the virtues of self discipline and self control if you also need those virtues you only need to read a book written by Brian Tracy (the power of self- discipline) no excuse! Discipline is good but is not enough to become a professional traders. Traders should see themselves as a footballers the more you train or practice the better you became.

By putting up certain thresholds and stop-losses, you are actually preventing your profit to be burned and has a lot of importance in generating future profits because you know when to stop and call it a day. Reaping up profits alone wouldn't help you becoming a great trader but also knowing when to stop because not everyday is a green day. Also, in establishing such thresholds, you will maximize your profit since you wouldn't be greedy to take them all.

No one could become professional trader from day one itself hence only experience deciding the professionalism of traders. But there are traders who are making good profits out of their skill similar to experience the traders but within their beginning days itself. I guess they are also worthy to be called as professional traders.

Yes,altcoin trading is very risky for every one.A professional trader is one who doesnot get panic and who doesnot follow the market blindly.He privately does fundamental analysis,financial analysis and successfully finds the most under valued asset.They know very well when to enter and when to exit the market.They dont do twenty or thirty trades per month like newbies and they just do two or three trades per month and earn profits more than newbies.

I'm not a professional or a newbie trader, just an average trader because im just 2months old in doing a altcoin trades but i can give you a tip to become a good trader.
The characteristics to be developed for becoming a trader is:
1. Analyzing - it is the most important thing to do when you making a trades because many altcoins turning into shitcoins and big whales making a fake pump to get a victim, the most people they victimize is the newbie because they didn't know if the coin is getting pump continuesly and they buy it in the higher price when the coin is trend.
2. Patience - after you analyze the coin you want and when you get a good news or projects about it you need to be patience if you know that the coin has a potential to rise just hold it for a long time and it's called longterm method.
3. Strategy - strategy and good thinking is best too Ex. if you buy a coin in 25sats then it will rise to 100sats then you read a news that the coins will get dumped because BTC price will getting pump, You need to sell it in 100sats and wait it to dump again then BUY then you have a 300% profit + another profit when you buy again in low price ;D
That's the only thing i know in trading but experience is the best key to success in trading bitcoins and altcoins GOODLUCK!  ;D

I agree. These are the three most important components for a successful trader. And of course we need experience that will come with the time of trade.

Good thread.I traded more than  8 years and earned my income from trading forex and stock market. BTW patience is virtue.. ;)

All of the professional traders here in the bitcoin industry is already experienced a bad thing like losing alot of money when they're begginers because they didn't know thr tactis about trading, Just accept if we lose it is normal to all of the trader but all of our loses we need to learn a new things and strategies to earn a good profit.
Take Note: a good trader take a risk because everyday is not a lucky day.

One point we must accept, every loss in trading is a way to become Professional Trader. Don't get scared when you lose money in trading. This is happening in all business you must be very strong and ready to take a challenge. Don't get panic if the price drops suddenly. The 2nd point patience you remember this and wait for some time your lucky day will come. when you start to control your feelings, then you will slowly become a Professional Trader.

I personally learned this the hard way, I was a newbie and I saw people talking about trading and how it is profitable and how they earn a lot from it so I was tempted to try it so I saved some coins and jumped into it without learning about it or having any experience and I lost all of my coins doing the wrong decisions, so I quit it and thought it was a lie and people were just lucky, but over the years i learned more about it and I tried it couple of times until I was able to get profit.

At first you cant avoid the regrets. It will always happen. But those are the lessons that you will be treasuring after.
The next trades will be better if you would just continue. I see some people that gets their hope lost in just a single trade to which they lose. I dont think that is how it works. You would need to take the next step even if there is a risk.

I agree with you. For trade, you need experience and knowledge. Ability to analyze the situation and news. I have a similar situation - I started trading without experience and lost everything. I was very angry. But then I realized that it's all my fault

Once we made mistake we can't turn the time back and fixed it we need to think it twice before making decision those dickhead who don't think are don't really had a good future from trading. We know about trading but you need to have a experience before dealing with it. You will learned it step by step trust your self.

Mistakes is the one that keeps the trader better improved their trading strategy as their trading journey goes by. Even a professional trader today still experiences mistakes and big loss. But that loss doesn't mean they are shit since if we look into their whole stats, the winning percentage is good looking.


That's why a newbie must deal in an actual trades after reading some basics so that they will have an experience. Just reading will not make them an experienced trader.

I don't treat myself as a professional trader but I'm getting good profit when I'm starting to sell my alt coins. Maybe you just need to know what are the most promising coins, have a plan on what you are going to buy and set a range of limit or amount before you are going to sell those alt coins. Make sure to study each of those coins, you don't have to be that professional.

To become a professional trader, it takes a lot of time to get experiences as much as you can to learn how the trading market changing due to speculation and good development. So, you need more information (research) and good analysis (calculate) to determine the best time to buy and sell. So, we need more experience, knowledge and be patient to analyze fluctuate of the coin.

Be patient, calm and keep emotions I think it matters, how our attitude keeps it easy to panic when prices go down continuously. The latter quickly determines the decision to take advantage or get out of the market (CL). :D

This is very helpful, but for beginners like me reading charts like this is very difficult, are there any charts/candles that indicate the price will go up or down ?? Thank you if you want to share

In trading, Every mistakes you made is equal to strategies that you learn so if you'll not learning for every mistakes you make bitcoin trading is not for you, Trading is not only buying low and selling it high if you see the coin is low price it's about analyzing and looking for the good development of the coin.
Reading the candlesticks too can help us to know if the coin have posibility to get higher, many strategies you can do if you research about trading techniques.

I think that patience and discipline is not enough. It's mandatory to know math, statistics, probability theory,
 all of the important news, to know what is important and what's not.  ;)

For me it is really patience.
Proved that recently with seeing one of my friend getting a lot of profit from NEM.
It was before that we decided to buy some of it but I doubted it and took the 100 satoshis per NEM profit already and never bought back.
My friend stayed and let it be or just left it there. Now he is gaining like 3000 satoshis per NEM and still counting.
Patience is really a virtue.

Patience is the key in trading because the flactuation of price is not an instant so if you have the patience then you can be a good trader because that is the with the huge earning and another is don't trade blind.

The most important thing is to not rush to trade, the markets will always be there and you will always have opportunities to make money so the most important thing is patience and then knowledge since if you don’t know what you are doing then you are just gambling.

I agree , patience is the one that professional trader must have.
Skills to use everytime to earn profits
And research in what coin have a good potentials.

That's not a requirement and a must but still an important additional knowledge to improve the chances of earning a profit throughout the skill of reading the current circumstances and graphic.
Traders could just buy and sell with their feelings but with that mandatory knowledge you've mentioned, they'll seem to have even better potential instead of relying on luckiness based on feeling.
and more important, feeling sometimes could trick us.

Yes nothing can beats patience when it terms of trading because patience is the key in trading and if you have that, the rest of the characteristics that you need will follow just like skills because if you have patience you will gain skills by studying the market and the basics.

yes for becoming a good and professional trader you need to have a lot of experience and trading skill and you can only get experience by spending time in  trading, therefore i will say that first you should invest some small amount in trading alt coin and only through this way you can get  experience in trading alt coin. experience is too much important in trading, because without experience trading is more risky than gambling where we mostly depend on our luck.

To become a professional trader, let's set aside the skills and knowledge because it's a common answer. I like to add the experience, this is will make you as sure professional trader. Because the way you are going to trade depends on your experiences and if ever you had enough experience, time will tell that you are near to it.

Experience is the best teacher and when you have experience then the skills and knowledge will follow you because getting experience is like getting knowledge from your mistake and having a skills because you will base your moves on the things that you've learned from the mistakes that you've been done.

Yes, there are many newbies entering cryptocurrency trading without computing and analyzing what to invest. To become a professional trader, you should manage your emotions because emotions could affect a lot to you when you do trading, sometimes it is why you will lose. Patience also is the key to your success.

While all of that will make your life easier as a trader I this not mandatory to be an expert on any of those fields to be successful at trading, the most important thing is to read the most books you can and learn from them and then apply that knowledge to your advantage.

You can read a lot of good information from books, but only practice makes the user a good and professional trader. For those who do not do very well with this task, they are advised not even to take this business into account.