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Usually, we are trading with market, and we have our own trading logic. But , after you are trading for a long time , you will find you are trading with yourself and the biggest enemy is you.

You may have a good trading logic , and you always earning money from the market , but you are still afraid of lossing, am i right?

Every trader should believe in his own trading logic just like a belief, you can't move it. Lossing are not terrible and you should like it.

So i have some advices:

1. make sure you are believe in your trading logic
2. record the reason when you open trade
3. take profit and stop loss strictly
4. back to the records when you close trade, and think why you are earning or lossing
5. according to the records , if you find something wrong with your trading logic, fix it
6. add your trade into a trade journal (advice from @GreatArkansas)
7. do the things 1-6 above again


Does any trader record the reason of opening trade? And how do you guys practice it? Let's talk about it.

Trust your own TA. Trading isn't easy as everyone thought. Our mistakes in trading serves our lesson, it will become our   mirror that will definitely makes us a successful trader. We have different strategies, I don't do records but I still trade positively. Also, I always set stop loss and that is strongly advisable to each trader to prevent huge losses.

If you are afraid of losing, trading is not for you. We trade because we want to take the risk that will anticipate a good outcome.

They are good advice, but you need to set your goal carefully. When you define a goal, you can determine the path that leads to this goal and then choose the best path to do so.
There is no such thing as "the logic of your trading". There are goals and a way to achieve them. This method is not required to be fixed, but it changes with events.

Generally, these are psychological tips for speculators and not advice on how to do trading.

I'm expecting to read a bit of repetitive advice here such as risk an amount you afford to lose, patience, don't put all eggs in one basket , etc. but those mentioned by the OP are by far do have sense compare to other threads created before which just stated obvious and common advice.

Yes, looking at our past performance where did we go wrong can create an effective strategy in the long-run. By looking at those, we can think of a strategy to somehow avoid it next time. Not totally will avoid it but we can deal with it without any major problem.

Every mistake and error should be noted and once we are now used on dealing with those, we can now think of an effective strategy for each of those problems we encounter along the way.

The crypto market is so volatile and there will be a time that what we think as an effective strategy still will not work. That's why it's good to have a set of strategy at any given mistakes we did.

This topic is already repeated many times, but here's the thing.  It really help those beginners in starting their investment in trading and let them work hard for themselves. But this thread can help also those professional traders when they're down or not performing very well in the market.

Every mistake you've made in trading and every knowledge you want to learn is located here in this thread.

The market's capability of increasing the demand of bitcoin is very low. Like in 2017 the bitcoin price notches at $10k and that is the highest as far as I know. Learn some strategy and improve your decision making skills in trading.

"Invest only what you are afford to loose."
This was the first advice I had got from my teacher and will tell the same thing to everyone whose trying to start trading in any manner.

Go with your instincts. Logic is not perfect.

Yes, I do it every day. I am also a newcomer here and I want to trade better after a few months so I decided to follow the instructions of the previous ones. They tell you to keep a record of your transactions every day for a full reason. when you lose, you still have to do it so after 3 months, you will have something to read and understand where you went wrong. Besides, taking notes shows that you are a well disciplined person and it will create a habit, it will make you love your work more and it will soon make you more professional.

Yeah, do it every day and you will win the battle between you and yourself

My mentor is also said that my enemy in trading is myself.  Even if I created the best plan but I failed to execute it, I will suffer losses. We need to be discipline and for us to achieve that our focus should be improving our trading psychology where we can understand our emotions and thoughts. By doing that our trading skills and our mentality will improve and we can have better outcomes.

You are right . If you opened a trade that means you are very sure that why you are doing this. So set the 'take profit or stop loss' and go to bed .

:)

Stop loss is important, it may be hard to detect whether we already need to stop our loss but we should consider putting ceiling and limit in every investment we have to stop a lot of loss. I already learn my experience to stop loss as I regretted not doing it in some of my bounty holdings before.

I have additional to add on the list of advice of yours;
Using a trade journal.
This journal keeps track of your trade, any journal will do. Like you can use some excel file or pencil with paper.
You will record all your trades, lost or profits. This will help you to measure your trading profits or will help you to improve in the future.
Because here, you will know how profitable you are as a trader or when did you miss something or when you are doing good.

Nice , i will add it now.Thank you sir

Lol, executive is important

Yes this what the fundamentals of trading are, but when you get into real actual trading it gets overwhelming and hard to follow what you've learned and sometimes buy at the wrong amount then resell and loss, then try to cope up and study then return to trading but commits the same mistakes once more. So i've stopped trying to become a trader and just invest my money and buy in the dips.

The advice from the Rockerfellers is also good: "Nobody ever got poor from taking profits".

The trouble some traders have is they get too greedy.

How many people held on when bitcoin was at $20,000, thinking it would go to $30,000? They'd have been better off selling, then waiting for the inevitable crach (inevitable because the move upwards had been too fast to be sustainable) and then buying back a lot more bitcoin when the price dropped.

It looked like doing research. yeah but it doesn't hurt because everything starts with analysis to produce the best formula. But I myself did not do such a thing because I was quite lazy to write it down, maybe I just understood it even though I sometimes forgot it.

If someone records every trade, then I'm sure he will get the best formula later.

Can totally agree with all points. It's really essential to stick to your plan and believe in it no matter what. DYOR - always!!!!

Good advice for every trader is to learn and know the trade before trading. You can't trade if it's not. Every business has a loss. If ever there is a loss then do not despair the traders and correct the problem where it went wrong. Every trader has to trade from the ground up. And when trading, you need to be aware of where you want to trade.

You got it right! Was supposed to post up some links telling about older threads regarding into these advises for traders which are already beaten up to death to be discussed about but about this one
which mentioned other way around which traders should really think off this way. Dont do the same mistake again and be aware on your mistakes and learn from it. Dont repeat mistakes as much as you can
and if you do aware on each step you do make next time then most likely you would sustain this very unpredictable market.

I agree especially with the stop-loss. This can lock in you gains or even just prevent a big loss in a situation where the price drops quickly. It’s an important trading tool.

Stop-loss is almost always taken into account into trading. Without it, you're basically going all in with every trade you do. As for assuming something is wrong with your trading logic, at times, it might be wrong and at times it might be correct. Fixing it doesn't necessarily mean your logic was wrong, but rather the market moved in an unexpected way that your logic didn't take into account for. That's the time where you add that certain plausible situation to your logic, taking into account every possible situation you could think of.

But that's almost impossible since there's close to n-number of results BTC might take, so instead, limit your possible losses. It's actually more efficient to limit your possible losses instead of improving or upgrading the logic towards earning more since improving equates to risk, but limiting equates to stability.
.

Yes I do record every reason of opening a trade along with the reason of my stop loss point & my take profit point. It helps me to find out where I was wrong in construction of my strategy if it fails and also tells me if this strategy is working if I win. I personally think that there is no point in making trades without recording them because lost trades are learnt lessons. Also if you decide to manually exit from the trade the reason for opening the trade will help you find out if there is something wrong with presumption of your strategy due to which you are closing the trade or what.

Indeed, we should learn from it and use it as guidance to avoid facing the same problem because some traders keeps on ignoring it without even acquiring the decision they made to end up in that kind of situation. Just like some of you, I also improve my strategy because I know that there is something wrong about it that is why the outcome don't turn out good as I expected. We should always learn from it and be cautious to every actions and decision that we will be making because the risk is always there and you don't want your funds to be wasted for nothing.

The fear will always be there.
Fear of losing or fear of regret doing withdrawals then thinking about the aftermath which could be another pump.
A problem which most traders have while in that moment.
You cannot take that away, it adds flavor to excitement.

Besides, it could be stepping stone of being a great trader after all those experiences. Experience which was created from your own logic.

When trader has been getting a profit (maybe it is just me) they will keep it for a while and need several time to take the profit, this is often happened in my trade honestly. I don't know maybe I have a high greedy so as I need a profit more than that. And something worse, I know it is bad thing but I always do that and there just one risk that I got, I never get a profit as I wanted.

I just focus to the third point because it is comes to me often. I get used to miss some dollar because of that and sometimes I just make a fool of myself so being aware of what I'm doing won't bring me comfortable. Also I should make a target profit first and I should force to sell it when my prediction is going true.

Many traders today afraid of trading their money because they take it negatively that the money their investments will not give them a profit. There is a lot of sources that can be used in trading like on the internet there's a lot of tips and tricks you can learn. Still, I think one of the conventional methods is knowing first the coin that is fit to your needs because different currencies has a different time to rise and becomes profitable, next is you must know how to read the graphs and a lot of observations sometimes the graphs gives you an idea when is the right time to invest, last is the best way to learn ask the traders who already experience a lot that gives you an opinion what you will do. At the end of the day still, it is your decision how do you manage your trading and at the right time you will know what your technique in trading is.

Fear is controllable but only if you have a strong heart and you have the self-confidence of what you are doing.
Fear is a kind of emotion that could lead to nowhere when you are in control of this feeling. If you are a trader, it is very important to avoid this one cause this will be a reason for your failure just like it happens to most traders.

What did you say is the best word i heard in these days. Thank you sir!

I already did that and even sometimes lost I still get income. That is basic trading that people need to know and become saver from bigger lost. Use any strategy you like but start like your post, never change the number before the price reach your limit.

These are very basic logic for every single trader, if you are not doing any of these you have been doing trading very wrong so far. I agree with every single step OP has talked about because these are basically the most important parts of trading, without any of these you are looking at a trading that has no purpose and you would never know what do with your next trade since you didn't learned your lessons.

Hence, do these things but don't think that these will be enough, these are just the most basic bare things you have to do without putting anything on top of it, you do these but then you add on top of these from what you learn and make it better and better the more you trade. At least learn a bit of chart reading on top of these as well.

Some people are too greedy enough to lose because they really deserve that for taking or expecting too much. And that will trigger them to change the number that they tend to sell or buy. Trading is a little complicated if you don't have a knowledge about it you will probably gonna burn all of your balance. Trading need some patients and knowledge to use different strategies.

Looking back on our past track record might do the work. So we know what we did wrong and the next time we could fix that errors in our way of trading. You know what, when you enter the market you need to put this in your mind, how much you're willing to lose by investing in one specific alts or something. How much losses could you bear to have. That's what stop-losses are for. As the saying goes, only invest what you can afford to lose. Still, people needs to fully understand the meaning of that words.

Don't be afraid of your losses. As long as it ain't an all in move (which is investing all of your funds on one specific coin), it could be a  good experience. Don't forget your mistakes, learn from them.

Yes! Indeed! This is what I am talking about! We need to invest the thing that we can afford to lose or I mean what is our excess , do not invest all our money if we do not have extra better to have emergency funds rather than having nothing, because in trading there is no definite trading technique.

Or invest only what you have now. I've seen some people in here asking and seeking for advice if they can just sell their belongings like a valuable ring, house and even property. I never think of trading to be this obsessive. The first thing to have before entering the trading, you must have a capital either big or small it does not matter, as long as you are ready to lose it and so selling things just to risk with trading is wrong for me, unless if you are millionaire.
I don't seen any logic in trading, if it has it is only the noticeable ones. Instinct is good but it will be just only based on your knowledge towards the market so basically knowledge is a must to possess of a trader in order to succeed.

One of the most effective way is the stop loss as for those who have limited money and cannot take much risk should always go with stop loss . This is the saver for many as helps you from the downturn and also limits your losses to great extent .

From my experience, before you get into a trade, know your targets and stop loss price. Know going into the trade what percent of your capital you stand to gain or lose depending on which way it goes. be fully comfortable with either outcome and the associated gain or loss before placing your order. also Don't risk too much on any one trade. If you are a good trader, give yourself and your capital time to prove it. If you are over-leveraged a few bad trades in a row can crush you even if you are making good trades 50 percent of the time. be steady and consistent with your risk management.

Yes. Set up your end goal clearly. Before starting to trade, make sure that you are equipped already with the basic knowledge needed in trading so that if you find trading not following your expectation, you will find ways how to make it right and still make profits in the end.

I totally agree with the advice mentioned in the opening post. Especially point number 3, which is take profit and
stop loss strictly. Indeed, in trading our goal is to make a profit, therefore we must set a target profit we want to
get. And also use the stop loss feature to save the capital we have so that it doesn't run out if the price coins that
we buy have decreased. We must admit crypto trading is an activity that has a high risk, so it is we should follow
a good advice as mentioned in the opening post.

It's true that every trader have a tendency to make a profit so they have to follow some trick like what you mentioned here, I also want to add a point that no one should take any decision based on emotion because it's a place where you have to look into very carefully, If anyone could maintain a data record then it might be helpful for the further trading purpose, for me, when you have a lot of information then you can make a decision based on this and it's very true that information based decision would bring a positive vibe. so the more you study about the trading, the more you gain in this system.

Who is not afraid of losing something? Of course we all do.
It is our money and that is why we take care of it.
IMO, the greatest enemy is that. We took care so much of our money and we forgot to take the risk.
There is always that risk for a better profit. I do believe in that.
The larger the risk the higher amount you could have and vice versa.

Believing in trading logic i have much experience in this  , if we don't believe what we do then we will be in fear and even if we are right fear causes us to makes mistakes , i had this experience because i did not believe in technical analysis even though i was good in this analysis i used to make mistakes and lose , its good that you mentioned this

Agree, making a trading journal is a good way to improve your self-control during trading. It may sound cliche but controlling yourself, sticking to the plan during a trade is harder than many people think. In a pump, when the price is already above your target, you could still hope the price would go up more so you didn't close your position. This kind of immediate decision that leads to most losses.

Another way to keep yourself from deviating from the plan is setting take-profit and stop-loss right after executing the trade. Over time, when you have better discipline, these TP-SL can be changed according to current market dynamic.

I love the point take the profit and stop the loss strictly because many users expecting more profit and losing their money on investing more on money on exchanges.
See people always have trading as the partial income resource and plant the other running option partially and invest on the right coin at the right time if you follow these both things will be able to make some money and for new business I will suggest you to don't go in trading field as a newbie.

Greediness is the main reason why a lot of traders are losing trades and money. They are not contented with the gains that they are seeing on their position so they tend to wait for a higher price or just ignore it completely. Take profit target and stop losses are essentials in trading because that will discipline you enough to have a huge profit margin with minimal potential losses.

It is all about our emotion, i mean greedy, panic, fomo and anything else that can disrupt our trading activity must be reduced or at least we really must control our emotion before we go to technical analysis. After it, TA can be easily learned because there are a lot of source we can learn about TA in internet. And then to be successful trader, we only need to keep trading and then learn from mistake that might be come.

You need always to research and analyze the coin you want to buy and don't use other people's analysis before you did by yourself. But I don't record the reason for opening trade because the situation will be different from one coin to another coin. So I trade if I can see the coin can move good on that day and I can see that the chart will have a chance to give me the profit. But other things will be my reason to trade because every day, the situation will not be the same.

Nice help and a good advice for all. I am going to add more idea wherein the vast majority of the traders have different kind of ideas and approach in the market "Psychological" so not everyone can get foxed and focus im sure they will find another additional info along the way.

That was good advice but let me add my own opinion.
How about using tools in trading to have easy trading and more reliable when it comes to monitoring the market price.
And also don't rely on this, we should have DYOR in choosing good coins that have the potential to gain profit.

This is not a good suggestion because we know that for being an expert we once will have to be new to trade but if you are new you will take double care as not to panic and not to think about making a fast profit. Be slow but be wise keep learning at the earnings you invest at red and then just trade for long term never be greedy to get rich faster.

I would also like to add that you need to have patience and you should know how to control your emotions to avoid panic selling because when we are facing a bear market you should expect that we will experience losses, that is why you need to have patience, so you could wait your holdings to increased it's price for you not to have any regrets when you are about to sell your coin in a low price.

Only I could suggest here is that "Don't stop learning and find ourselves comfortable of doing this" cause nothing could help us with this, it is only "YOU". If we are about to engage in trading, we have to know the risk that we are facing in the future. The openness we have in the other suggestions and ideas the more we gain knowledge. Learning is a process and takes time.

Indeed, some simple strategies that people don't aware of, and keep suggest some repetitive advice in general.
Basically, someone who has been in trading for months should have a journal and many notes regarding the trade he had executed, for a reference in the future.
These 3 should be noted for every traders who want to maximize the chance to get profits.

I think every trader must prepare this before trading. 
1. Trading Plan. 
2. Know Your Character. 
3. Set goals. 
4. Set a Target. 
5. Risk Capital
6. Determine Your Trading Strategy. 
those are the basics that must be prepared by a novice trader or professional trader.

You are right. The most important thing that you need to always apply and always need to remember is your trading plan. Because it is the guideline that brings you to your own success. And I think you forget something on you tip list which is avoiding too much greed because it will bring you to loss.

I think I will say no to that. Greed is needed to hit the jackpot. Imagine the early bitcoin trader's if they sell their bitcoin to 1$, it will be a vast lost if you compare the price today. And imagine first bitcoin trader's that sell after they double their investment. You need greed to hit the jackpot. If all of the early trader's have that, then they are wealthy today. Just imagine the 10,000 bitcoin pizza, if he held his bitcoin until today, he would be swimming on the money.

Link for BTC10,000 pizza: https://bitcointalk.org/index.php?topic=137.0

Sometimes but not always beacuse greed can turn a profit into a loss or can be a reason of becoming broke on trading because i am once a very greedy trader who use to trade and loss so i am greedy to bring back my money and that greedily feels like i am not going to stop within that day and resulted into a revenge trading which have no good outcome at all.

In fact, you spoke very correctly and I completely agree with you, but such characteristics of a cryptocurrency user cannot be called greed, as many people do, since only a cryptocurrency user who knows how to use his money rationally and at the same time can achieve good results  .  It would also be nice to have forecasts for the future in relation to a particular cryptocurrency, in order to be able to really rely on some results in the future.

Yeah, i want to say. Long term trading is one of the trading plans.So if you have your own plan, just do it.

All of you mention are more important for us if we doing in trading.
And Ill agree with this number 5 in your list, Because they have time we are make some mistake in trading on why we are losing some profit in trading.
So we need have some records of which are we have wrong for trade, So that we can fix it early and avoid it if we trade again.

It was risky if we are in trading situation so thats why we need more plan and strategy for trading.

Finding solutions to our mistakes is really good but don't just stop to that, the most important thing is we need and must have to do is to don't let it happens again. Most traders come to lose their funds cause they don't consider trading as a serious task (which I believe it was). Then I have to say that, having a concrete plan is very important, not only that it will guide us but also it helping us to find which part we've been wrong.

Just blindly believe in your trading "logic"? Well, I guess you this won't end up well. Never believe in everything confidently. If you are trading with your strategy/logic and then you see that you are continuously making loss, then don't just keep on believing that you will eventually make profit (unless it is backed up with some true facts and mathematically). You will need to admit your believe is wrong and then you need to see whats wrong over there. Eventually you will be able to fix your "logic", thus improving your trading profit.

Everything else doesn't matter if you are doing this already.
Trading with emotions.
That had been discussed here for so many times.
Emotion is what comes after a newbie luck.
Happened to me way back. I thought I was the luckiest guy in the world but yet loss happened. I didn't quite understood at start but it came to me when so much loss happened.
It takes experience. It wont go to your head with just a little amount of time.

We can't please everything and we can't guide everyone here, they do have their own strategy how they are going to maximize their fund, and if they are too hard headed , then it is not our fault but it is their own responsibility and consequence for being carelessness, so they don't need to blame the team or anyone from here.

The time for thinking must be more than the time that your are trading, just like Warren Buffet, the 80% of his time be used to read and thinking, how wonderful life it is .

Don't.

It's a common fact that in forex, 96% of new traders lose money and give up when their funds run out.

There is no reason to believe that this % is any different in crypto: if you factor in the extra risks of being scammed by wallets, exchanges and sundry thieves, the % is probably even higher than that.

Being new in trading I really don’t know enough about trading but as per my short time experience I think you said all right things that we should try to make list of our mistakes and we should know about good time to trade. We should be aware of time to purchase and time to sell. Trading as a newbie is good for long term and avoid being so emotional.

Mistakes aren't avoidable but it can be lessen. Listing it can help but it's hassle for you since it can be easily remembered by our minds. I think it's better to focus more on strategies and technicalities rather than figuring out what wron we have done. In terms of type of trading, as a newbie it's not good for them to trade for long term because it could lead them to failire since they can lose too much if they are holding on somethint they know not too much about.

That is something which can make a trader successful. Most of the traders try to recover the loss after any negative trade, they fight with the market taking illogical trades leading more losses to their account. Trading is a game of probability, even trades taken on guess have 50% chances of success. If you trade with a logic (record the reason when you open trade) you have more chances of success. Trade should be well planned with pre-defined SL and TP, we should accept whatever market gives us.

These are great guidelines. Its really helpful in trading transaction. Mostly it always depends on our own instinct or strategies. These guidelines are also dependable and eventually we can make our own strategies from the experiences we encountered everytime we trade. Stopping lost strictly is quite very risky and somehow hard to avoid but definitely needs time to monitor every trading or market statistics.

We do have a lot of ways, guidelines are available out there, so here is no reason for us not to learn trading unless we don't have the plan in learning it, for me, better to try everything that you think could make you maximize your fund and could make you rich rather than just wasting your time in some aspects that really don't matter at all.

Trading is not for all of us and those that should trade in the financial market or cryptocurrencies market should be those that has spent more time in managing their own emotions and are ready to see loses as the road to success. I have see people selling a coins only to see that coins making 3x the following days.

I also have one good advice for every trader who can't trade with profit, it is to become an investor. Just admit that trading takes your money and you turn into a regular ludomaniac. Conquer your weakness, invest for a long-term in worthy projects, and devote your free time to useful things.  

Becoming an investors also need to be skilled like a trader, because seeing the potential of a coin is not easy sometimes a coins offer a really good future to their investors but in a year or 2 the coin is still stagnant and not making a good growth, so the investors will just wasting a lot of time.

This is the common situation that mostly happening on different projects right now. The stagnant and non moving crypto coin was very rampant, and not being listed with any group of popular exchanges. That's how worst people thought about trading these days, and we can't even blame someone who panicked after seeing their holdings wasn't able to reach the profitable value. To give some advice, keep holding and don't listen to any manipulation or some negative analysis, because it might give you wrong decisions.

I agree with this, Not just because you fail as a trader you will just jump out being a trader to become an investor. As a matter of fact, being an investor is much harder than being a trader, why? Because as a trader you have the control on everything from the money flow to decisions unlike being an investor that you'll just sit waiting around until the investment clicks that is why being an investor needed more skill than being a trader. In the end it's your choices that matters, so be wise on making your decisions every time.

In my opinion the best advice for all traders is to be able to control the emotions that we have. Because sometimes we as traders often
carries emotions when trading. For example, because market prices suddenly go down, our emotions start to be affected, we panic, then
we can't think calm and clear. Because of panic, we immediately sell all the coins and experience a substantial loss, even though if can
control emotions. We will not sell suddenly, be calm learn the market first. Sometimes the price drops, not long the price can go up again
suddenly too. In the end we don't have to suffer losses if we can control our emotions.

Many trader when looking their trading assets have higher price keep holding and waiting with more higher price again until down and exactly when assets have lower price never take for cut lost, they have never want to adopt with take profit and stop loss strictly because still greed with trader and keep trusted with their coin assets back with higher price.

Reading is the first step for successful trading, you need to know allot of things in order to make profit regularly in trading. Also people use different strategies as some are aggressive and try every experiment and some do long term holding. Also be careful of sudden pumps or dumps of Bitcoin as alts will go down whenever there is a fluctuation.

Their are time we cannot make sure if we are newbie and choosing for those long term that you mean.
Because we need have time find away on how to earn, Must better to start in short term and slowly to learn in trading than those long term that we only focus in one. But it depends on us of were we are comfortable.

Being emotional in trading it was part on us but we need to control on the time.

Personal logic must be one-way with market logic. every time we close a position with a profit target, we often automatically make a new order, if it is like this, the amount of loss will be more than the profit. each record must return to initial management so that each improvisation does not become a boomerang. It is better to cancel all failed and floating orders, and restart the original plan to prevent greater losses.

It's about the type of risk that each traders wanted to take and how they can manage to take care of each responsibilities. Traders with high hope keeps being optimistic and will continue finding the right ways. Don't rush everything  as time will allow you to learned the right system that will be beneficials with your stay inside the trading market. Wild but profitable once you learned the right attitude when investing to this business.

goals like how much $ you want to get and when it's fulfilled you have to stop, some people might have my mind about trading and if possible take as much profit as possible: p
stop being greedy, or you will be swayed like a ship without sails in the sea.

Take as much profit as you can be our goals in trading, but we need to be careful because the market will not always move as you want. You still need to check every day for the market movements so you can improve your strategy in trading, and that will help you to buy the coin at a low price. Yes, stop being greedy is one thing that we should concern because greedy will be on our side every time we take the profit. When we already consider the profit, you can stop for a while so you can calm down your mind so that you can search for another coin at a low price.

Another thing is that anyone who wants to be a trader needs to consider the coins they choose. There are lots of coins in the market, and some of them have a huge market cap, whereas others have a market cap that is smaller. You should know what these means for every coin. If you're choosing a coin that has a smaller market cap then you should know that they are vulnerable to wild volatility, but coins with bigger market caps are not.

The next thing one has to check is the trading volume, trading volume is a very important thing to check for. And as you have said, using stop losses and pre-determined levels taking profits is very important.

Overall there are infinite aspects and factors, every trader must need to focus and should be being conscious while trading. No one could list out all of them as covering each and everything could be possible only be experience. This is the reason why professional traders are suggesting about continuous learning as the only way to be staying competitive in trading field.

I'd like to the way you say "Don't Rush". People rush to Bitcoin investment because they are too optimistic about being profitable and instantly get their returns. But this is also a reason for their losses. Why? Because most of them never know exactly what they are doing. However, it is to believe that luck might be there and even they lose but still they stand cause of their trust in crypto and hoping to have luck in the next round.

There are people who are rushing in terms of investment. I have a friend where he recently became aware to bitcoin and he rushed to make his first investment. The result is obvious and it is loss, he didn't consider the risks and he rush to buy bitcoins. Before we invest something, we should first invest in learning because we can use this learning to multiply our money.

That’s good advice but don’t you think that trading also has so many profits for you but you only need to deal with trading carefully and also try to find it reliable for you. Don’t be rush to get rich with trading and try to learn to trade properly so you will find it easier the same as investing your money as trading is good to try for the long term in the beginning.

A good lesson for your friend to learn with and provably next time he will know on how to deal with things in terms of investing with bitcoins and other altcoins since we need to learn deal with risk management. I also encounter that loses when my first time here and actually after that lose I strive to learn those basic fundamentals and other things that can be helpful and now actually I manage to stretch up my portfolio and earning good with good and bad times in the market.

Learning in good and bad times isn't easy to handle, that's why we needed to strive harder to come up the best formula which can be useful in dealing with many problems that makes it harder to achieve. Even though you're good at your portfolio, its still not guaranteed you'll be able to come up at good results.
Always find more time with trading, don't just rely on one strategy, also seek opinion from other experts because it may provide you additional knowledge and skills.

Good advice especially for beginners. If I open a trade I dont really think about the reasons, I just follow my instinct and judgement on why im doing it. Im not even bother to review my past trades and analyze what should be done or not. I like your points here its a useful tips for traders who dont have concrete plan to follow and careless in trading.

weekly goals of making $ is good we will be knowing how much we have to make , this way we can manage position and avoid being greedy, knowing how to manage position is very important  

Number 3 is really important. Setting a trail stop means to control your greed as well and having a stop-limit means valuing the money you invested.
Like others said to treat your trade as your business, not a gamble.

This just means that a day trader should make a list of its every trade for him to enable to  manage his buy and sell order to make some profit. Every traders should have their own strategy to find what would be the best strategy to suit their needs when trading.

Their expectations from bitcoin are right but the problem is basically instant expectation of the returns. This is not possible with bitcoin. Bitcoin takes good time in order to make you rich and in that time you have to support it without getting panicked and selling it off at low prices. Such people simply need to understand how bitcoin and other crypto currencies really work in regard of profits.

The individual traders must have passion, dedication, and strong determination when they do trading in the exchange.
They also must be patience, don't be too emotional when the movement in the market price is not good, always calm and relax, instead of getting panic or worry it won't give any help at all in the end.

Their expectations are good but somehow it is not easy as they think. We can't have an instant return and sadly they don't expect that was will happen. People are just expecting huge money returns but they neglect to think also if somehow they could suffer or not. That is the reason why some traders easily quit when they struggle losses and then thinking that crypto is just a scam.

And that they should love and enjoy what they are doing, we all know how it is stressing crypto is but if we will not let ourselves loving what we are doing then we cannot help ourself but we willl be depressed and stressed out everytime that we are losing in trading, and also make some goal of what you want to achieve and always analyze the mistakes you made.

I believe all successful traders have this instinct. They don't think that trading could be a stressful job instead, they find themselves comfortable with doing this. Pretty sure they achieve their goals cause they have passion and dedication which is very important when you are running the business. If we think that trading is difficult to learn, it surely we won't succeed.

Giving explain with trading in bitcoin and altcoin is easy but we don't know what happen when we start for trading because many thing without prediction before happen with bitcoin and altcoin price, when we are looking bitcoin and altcoin have higher price and market looks good but few hour later price dump and we lost chance to get much profit with bitcoin and altcoin investing.

Glad you stopped a while in trading in the past months because it is very tragic, really.  I have lost my 30% capital in the past month due to too much confidence with my analysis, I expected the market to plummet approaching the holiday season since people are getting their extra pays for this year. With this kind of market Binance who has the biggeat trading volume is the best option you got coz you'll have a huge chance than the lower trading volume exchanges.

There were indeed high hopes from the market by the end of the year as you quoted the reason for these hopes and that was the very reason there were speculations about the increase in the values of cryptos by the start of December but the market is still not showing any positive signs for sellers. It is favoring only buyers. I will suggest you simply holding onto your coins and do trading only with altcoins.

90% win rate means when you traded 5times you only have 59% win rate to win these 5times trading. So keep less your do, and think more about yoursel/market.

Yeah, you are right. The succeed people who get good profit in trading, they only believe in some good subject. We always heared some story about bitcoin make people rich, but we few to hear the story about altcoins make people rich. Lol. If someone new trader want to earn money, just buy bitcoin

In my own point of view, we should not focus only in bitcoin because it is much better to split our profit to avoid huger risk, especially when we are facing a bear market. If you will choose a coin you better invest your money in top coins in the market for you not to worry to much. When you are trading, you also need to control your emotions, especially when the price of your coin is down, so that you will not panic sell and will not have any regrets.

Yeah we need to really motivated to do a day trading with this current condition of the market, if we really good enough at trading i'm sure we still can earn money from it but the chance is so low due to more coins are down compared to rising coins. Hope next year will be good for day trading and hoping bitcoin price is rising too.

I do also think that it is not the right time to day trade due to some reason that most of the coins are dump and not making any big movement. The perfect time for daily trade in my opinion is if market is in balance state where not downtrend or uptrend. Anyway, I think after the halving we might see a bit difference so just grip for a moment until the right time comes.

Day trade is admittedly profitable as a result of we will create heaps of profit during a short amount of your time thus we regularly like day trade. However, in some cases the quantity of vaccines becomes too high and lots of suffer from depression. However, it's true that folks like day trade over long trade.

Even if you follow all the tips from here then you can't ensure a safe and profitable trading life for a longer time. Trading doesn't follow some certain rule but yes I agree that these tips are helpful to learn and realize the trade and these will be helpful for the newbies. To make good in trade you have to have patience and brave.

   Because there are no guarantees in trading. There are no strict rules to follow to make profit, there is just market that change
directions constantly. Traders are trying to predict this changes, and nobody makes profit all the time.
   Patience is for long-term investing. It's when you believe in the future of some coin. Short-term trading is about speed, to be
faster than others, to sell before others and buy before others, and to have good timing for both.

Yes correct, we make our rules and we make our own strategies. You can't follow someone advice as they are the only who knows how to do their own strategies and that's why majority of the time that someone follows others strategies are having a big failure.

Newbie should not follow those strategies to be honest, too complicated and they won't even bother to do it.

why? do you have any better?

There is no guarantee to win in trading if your knowledge is not enough but if you are knowledgeable enough then you can use your head on how you will win in trading. Traders are losing because they are not trained in trading where they just trading without any kind of strategy and studies. We can be prepared anytime if we have a lot of information about trading. Predicting is impossible but forecasting is possible in trading.

When you are just starting in trading, you need to have enough knowledge and skills; there are some few tips if you are beginning in trading. First is you must know about trading even you already have an idea still you need to know the other transaction inside the trading, always seek for the new and use this as an advantage to the other trader. Second, choose the best method that is suited to your trading to make sure you will not lose on your trade; one of the common mistakes of the beginners is investing on the coin that is not for long term or short term trading. In short term trading, this is for altcoins that you can go for daily trading or long term trading that is for bitcoin because the price will change before a long time. Lastly is be confident on your trade most of the time traders are afraid of losing income on their wallets and pulling out immediately their money.

Discipline is my major enemy in my trading journey this is an area I need to work on, my plan as a binary options trader do work but greediness wouldn't allow me to stop trading for that day until I started incur losses, My trading psychology needs orientation too it would surely makes me a better trader I really valued all those advices.

Discipline most important have adopted by every trader when they have watching and analyze with bitcoin and altcoin price and keep exist with how much profit target earn, many trader looks greed when their coin trading have raise with higher price and want keep holding until get much profit, but the have make big mistake because some coin after raise with higher price become down and never up again.

It runs by our own understanding and strategy. May we learn from the other's way of perspective but it the end, we are still the ones who manage our account. In fact, blaming oneself and regrets are also common to us but from that, it gives a huge impact on our future trading journey.
If we would like to win/achieve something, we must have to work on it.

Maybe day trading is profitable for you, but for me personally, this process is unprofitable. I tried day trading, but did not succeed in this. Maybe I just was uneducated for this. All of these indicators, patterns, technical analysis. It's all so difficult really. Investing for the long term is much easier, it is a way for the lazy, but it also does not guarantee a profit.

Trading isn't for everyone and it means that trading isn't meant for you as well. We know trading could be a tough job and it requires ample time in order to understand clearly but before doing it, let us also examine ourselves if we are ready for any consequences that may happen in the future. Cause if we feel uncomfortably doing this at the very beginning, I suggest not to continue in trading and stop dreaming to become a professional trader, it only getting far from reality.

I agree with this. If you are an emotional type of trader or person then it will become a hard thing for you to become a profitable trader. That was one of the example of traits that are not compatible to become a trader and it is indeed not for everyone. People should accept it and only stick to the things that are working for them.

believe in yourself and believe that everything you have done is a very appropriate decision. that is what must be embedded in sellers so that they are not always in fear. There is a saying, don't be afraid of failure, because failure is a step towards success. I strongly agree with the advice you say to record the reasons when opening a trade, maybe this will be a very valuable lesson for me, and can motivate me to be more careful in trading so that I can get the results as expected at the beginning of opening a trade.

Try and try until you suceed, there is no room for fear, you need to try all those things that might be helpful in your trading, loses in trading is normal, but a very huge one is bad. We need  a lot of patience so that we could wait till our sell order hits, long term holding is very crucial and we can be emotional when waiting for our coin to pump.

I want to say if you are a trader then you have to be enough patince and hold your asset for long time

Its not free site way to earn money with bitcoin and altcoin investing because if always try we lost much money and how to start investing again without have money, maybe learning first with technical when have to buy and sell bitcoin, without have knowledge we can get profit and success with bitcoin and altcoin investing, we have know about internal and external of bitcoin situation.

try and try until you succeed? Trading cryptocurrency makes a difference on that quote, you cannot just try and try after try... it will be more right if it's try and try if you afford to lose because the market will test you until you lose your patience and money since volatility is at the very high rate especially top 10 coins in the market. A good advice for now is just to hold until the next halving, that might be a good strategy for the moment.

Trade won't come so easily many studies will need to be done but success will come here but so as to be a successful trader, you want to follow the instructions in order that the danger of loss is far lower Stop loss is certainly one among the foremost important things here.

Your post is right, as trader we should do that and never use bot/ trading signal for better result. I make journal to write everything I do ( strategy & money management ) as basic decision to execute my strategy. If something wrong happen I just look the journal to find the mistakes, change it and test again. This repeat activity will become good habit, train us to disciplines and respect our skill better than yesterday.

I also suggest every trader that its not good to trade without knowledge as to when you are trading its important for you know what you are exactly doing and be ready to face the problem that could come in your way while trading. Mostly new traders get worries about market changes and they sell early for panic which is not a good thing at all.

there are times when we really need to have a strong belief in ourselves in trading, because sometimes the advice and input obtained from others may not always be able to minimize losses. however, we must be able to bear all the risks we will face in the trade that we do.

So that means there's nothing in this forum that's not a scam?

have you ever found one that's good?

It is better to believe in ourselves rather than to believe other people on their opinion about the things that you should do. Just because they are making profit then that doesn't mean that they are always right, just take the tips and always customize based on your strategy. Execute base on your own point of view and if you make mistakes, improve and try again.

some time ago, around 2016 I was an active trader. and you are right. I made a lot of money but was still afraid of losing. because the advantages and disadvantages are always side by side. I once thought to record every mistake I made in trading that made me lose. but every time I profit, I always forget. This is true, it is better if these tips are applied in trading. and can minimize losses.

These are the best advice for all traders. I think it will help a lot of newcomers here and it will minimize the losses in trading. I am also a trader and I have been doing this for more than 3 years, up to now I still often lose money because every day the market becomes more unpredictable and harder to control than before and what makes me lose the most in this market is the lack of assertiveness. And a true trader needs to be assertive to act at all times in different market conditions, up to now, I haven't been able to finish it, it's really difficult

And this is all what we need as well, we all need the advice from the experts as they will be our inspiration in our trading journey, because if we will just rely on our own then I don't think that we will be succeed, so we also need to check the others opinions, skills, advice and experience for us to learn more.

I don't do recording too, there is someone who also tell me to record it, but what important is we learn in that lose, we need to know that losses is part of trading. We need to work harder to improve our skills in trading and find ways to be knowledgeable enough in what we're doing.

Change your trading strategies or styles when the existing one doesn't give enough profitable for a while.And find your trading method based on your experiences and needs don't just rely on other which may not work for you either.

I appreciate the advice you give.. but what you suggest is only a theory of how to trade well.  while in practice, self-control is what determines whether the trader is losing or profitable.  self-controlling includes controlling our greed because successful traders are traders who are not greedy and are able to control themselves and their time.

In crypto logic is little different from any other investment so beginners are loose the funding in crypto investment. But 2 years ago market was growing well so everyone earn some profit in crypto trading. I always suggest new investors are carefully participate each trade and long term investors are never loose the hope because they have secure volume investment.

2 years ago is the best time to make money from trading and no way you lost lot of funds during those beautiful days. But if it was real then is okay, no one makes real profit in the first day of trading, as long as you learn from your mistake and you fix it in the next time then you should be okay.

Let's keep learning of everything so we can adapt in any condition.

I record my trades too when I lose back then but the thing with recording is you can base your technical analysis using it so you can have better plans on the next move. Recording is helpful until I find it too complicated when market becomes crowded and whales become playful, the market became more unpredictable and so recording becomes useless anymore.

Yeah, every trader should have a strong belief in his abilities and it’s not good for them to walk on the wrong path just because other people are guiding them so traders should keep their eyes open while choosing projects. It’s traders own responsibility to know the right time for buying and for trading but don’t listen to other people for trading.

Your points are appreciated,Further traders also work on control fear of losing and just believe in having skills and decision power. Sometime rumors in news down the traders and most trader on initially stage quit on trade just because of rumors.

Stop loss option is blessing for you must apply it on your trade,will help  to save your funds. Money management have also importance in trading,Manage your money accordingly. Invest amount which you afford to loose and retain that you recover the amount you loose.

Listening to other people's advice sometimes give you good and bad decisions, so just get those some good ideas and don't use them all. You can't live all alone, so we still need others help but not all situations you can rely on them. We can do all trading with our own, and if you find it difficult just prefer to choose long term trading instead of quick trading.

If you have difficulties in managing your portfolio and watching the charts it will be better if you choose long term trading instead of daily trading because daily trading is riskier and it is a lot of work actually, especially if you can't control your emotions because you might end up having more losses than earning.

The above comments are really great for new traders. These habits are what disciplines a new trader and it's important to your long-term future victories. In my opinion, you should apply these methods to the demo account. Anyway, it is a discipline that you need to practice and the demo account will help you do it for free, do not try to make money at the beginning when you do not have a good trading plan.

Two years ago was the best time because none of the bad news came out in the crypto world and then after the ban of China of blockchain made it hard time for the crypto but again China is back for blockchain and again the halving will attract a lot of investors to the bitcoin and they all will also try to increase their portfolio so they all will again do trade and this will again make the time just like the two years ago. We have to hope for the best time and have to support the bitcoin and crypto currencies. This will again bring a best time for all of us and we all will earn in trading easily.

My only advice would be that we should always try to control your emotions. Trust me any reader out there, you win 90% battle, if you gain control over emotions. You might here that knowledge or experience is vital, but believe me, having gone through all, I can tell you even without these things you can do well if you just have the patience and control over emotions. As per rest, good broker too helps like it does for me in FreshForex.

Most of the news appearing in China will have a great impact on this market and in 2019 there was a lot of news that made this market more difficult to predict. Currently, trading during this time will face a lot of risks and you should think carefully before making a decision.

Personally, I'm afraid of the bad news because it's the time I often panic sell and it's hard to avoid losing money so hopefully this year there won't be news that will make this market worse.

A lazy trader will never succeed because all the OP said is correct and as a trader you really have to create a monitoring list for you to know and to remind when to execute your trading plan. I do have a trading book, and I'm using it every time I trade I consider this one as a real job. Trading is more profitable if you are more discipline and responsible, don't be a trader who always depend on the trading signals, market fud news and the advice of someone.

The point is you must have a target that is not too grandiose or greedy intake profit if you want to be safe when trading. The percentage of taking profit or cut loss is needed. because that's one way you manage risk. listen to your own conscience. Never make the same mistake. one of them is not listening to your heart, if you are sure to sell it then sell it. don't hold it because you listen to a friend's advice that is not necessarily true. And this often happens I guess. And regret will arrive when you make the wrong decision

Indeed, we need to put some hardwork and effort on it also, a lot of time is also needed in trading ,because we all know that in trading we can earn a lot if the coin our holding is on pump and we are selling it at that price. If we are lazy and will not be able to monitor our coin a lot of opporunity and money will surely be losing.

Every traders should have a plan. if you don't have a plan, you will fail, and never jump into a trade blindly. It is not the trade that kills you, it is the size of the trade. So, use leverage carefully. Money Management is the most important though. But you also need to make sure your trading plan will produce profits. One could use money management on a losing strategy and still lose it all, they'd just lose it slower. Also do not trade with a small amount of money. Have at least $2,000-$4,000 before start trading.

In the year of 2020 when there will be halving of the mining reward of bitcoin you do not have to worry for your money because just remember the year of 2016 when there was halving and at that year Russia banned bitcoin in their country and I remember at that time the price of bitcoin not reduced with that news and even at that day bitcoin rally continued.

You're basically just saying what most people who pay attention will realise: the only time traders consistently make money is during a bull run. Even all the famous crypto funds and basket funds and algorithm traders find a huge correlation of profit with a bull run.

What's the take away from all this? Don't waste your time trading if you're just a guy going with the flow. Buy, hold, keep your day job. At least you'll gain back all that time lost in trading to actually earn something and maybe even learn from your job.

When the bull market comes, everyone will know it, you won't need to be a trader to know when ATH hits. Then you sell what you're comfortably letting go of.

That is actually the process of long term trading or holding cryptocurrencies which is really a profitable process and no one lose in it if they have patience and they do not lose heart and sell in bad market while that is also right that traders always earn in bull market but the real traders do trade when they are in bad market and they strive to involve in trade and try themselves to earn in that market.

I think that is were the REAL problem for most traders occur. They just dont really know what they actually have to fix. Therefore ideally you need an experienced mentor and good understanding of the Basic Success Principles in Trading. So, dont underestimate that point 5  ;)

To avoid any circumstances on trading blindly, don't be too aggressive on picking those non reliable and sustainable asset. Being to rush on every decision along with the desires of quicker profit will put you at risk and you'll tend to loss everything you had. Personally, my experience could let me share to anyone in order to help them prevent any possible mistakes. It's not easy to fail, that's why we needed to choose the best asset and hold it for several months to take into full maturity before earning the profit that we wanted.

They can find it where it goes wrong because in the first place they don't know what they are doing. Losing, that is exactly where they go.
For sometimes, we also have to realize that trading won't go smooth all the time. Suffering such difference will often to happen but yet, isn't the way we should really be disappointed, tried to work it harder and be positive. 

Trading is a lot risky, it’s very difficult to benefit from trading and if you check it’s only a few people that makes profit from trading. Take your first advice for an example – imagine that someone is trusting the wrong trading plans, what do you think is going to happen ??? ??

So, the first thing should be finding the right plan that works, because it’s not every plan that is going to work, if you trust on the wrong plans you’re as good as finished because you will keep losing. Trading requires a lot of practice and as time goes on you will be getting perfect. Another very important advice any trader needs is to make sure that they are trading an affordable amount.

Yes you are right. Trading is all about keeping yourself disciplined in accordance with the need of the hour. A person who is into the trading of cryptocurrencies must have a flexible approach towards the ever changing market. This helps you a lot in taking the right step at the right time. Trading is only beneficial when you apply your techniques at the required time.

Trading is a profession where a person is required to keep patience. Trading could be good when a person is experienced. Trading of the cryptocurrencies is not beneficial when a person keeps n fluctuating between various currencies. You must stick to a single currency for some time and gain the experience about it.

My advice to you will be the following. It's very important to carefully select the place for buying and trading. In terms of convenience, it's better to stick to fiat-to-crypto exchanges (like Coinbase or CEX.IO (https://cexbro.com/)). That'll set you free from wandering around one exchange to another.

Yes, trading is all about knowledge and skills so if you properly know what trading is then you will be able to gain profit. Be good in trading by research and gain knowledge about trading,  better gain knowledge from here and use Google or youtube in this regard. Don’t trade at panic and never listen to anyone while trading as making your own decision will help you make money.

Indeed, traders should be more careful when we're talking about the trading platforms which they'll want to trade on it. My advices are basically the trading platform as well as they need to just start with low amount of money because as a newbie you'll obviously loss some money in their starting thought.

I would say that the most important is to stay cautious, there are a lot of scams in the cryptocurrency world, that's for sure. Remember to check twice every website which you want to use to buy cryptocurrencies (and do some more). Check out for example what CoinDeal's COO and Coinfirm's Co Founder speak about scams in the cryptocurrency market: https://www.youtube.com/watch?v=83JnxuUUJ5o (https://www.youtube.com/watch?v=83JnxuUUJ5o)

In addition to that, we have to check their reviews for this is a way we could put any conclusion. I know some sites have paid reviews to promote their sites and that's gonna be hard to find out. Trading is risky as we know that, it is up to us either to put trust in a certain site or just follow what the others mostly been used. It is not about holding you to try with the others but we also have to be practical unless you don't mind losing your money.

What newbies need to know is that not all trades are the same. Your reason why you bought a coin today may not be applied to the coin that you plan to buy tomorrow. Don't even think that the strategy will work all the time in all coins. We all know how volatile Cryptocurrencies are. Lastly, I agree with using stop loss all the time but you must know when to use it to avoid stop loss being triggered right away.

For beginners it will be difficult to understand about it because they do not fully understand it so it takes time to process so that they understand the notes in the trade.
First of all, be sure of the coins you buy, because that will be the best choice in your trade, and always monitor market movements so that they are not late in their increase and stop loss is very important if the price drops continuously.
So the notes are very important and we also need accurate info about the coins being traded.

Everything that we are starting was really confusing, especially in trading as you will need a lot of your time in studying about it, you will need a lot experience, as well as failures every now and then.

It's very important that we will be consistent in studying trading and be full time on it if we have time, then learn different kinds of strategies as well.

It is a good analytical strategy that can easily identify errors and help keep your head cold in view of maintaining a constant log of your thoughts regarding every transaction.
Just those traders who use such records lose less, and grow in skills faster than others. This, after all, requires additional efforts that not everyone is ready to make.

In my view, being able to control the feelings we have is the best advice for all traders. Because we often bring feelings when dealing as traders. For starters, because market prices are suddenly falling, our emotions are beginning to be affected, we are panicking, and we can't think calm and clear. Because of panic, we sell all the coins immediately and experience a substantial loss, even if emotions can be controlled. We're not going to sell all of a sudden, we're going to learn the business first. The price often decreases, the price may not go up again unexpectedly. Essentially, if we can regulate our feelings, we don't have to suffer losses.

This will be the first thing that a trader must have do, to control feelings over everything. As trader, we all know that we sometimes lose money especially when we dont hit the target, or we dont monitor our coin and suddenly the price of it dumps. We need a lot of patience and also, we need to manage our losses so that it would not happen again. Accept losses it wi be good for every trader.

Controlling our emotions and feelings while we are trading is all about psychology. It is the most important factor when we are trading, even if we know how to analyze and read charts it will all go nothing if we have improper psychology. We should focus on improvement of our psychology if we want to control our emotions in order to follow our trading plan and of course to become discipline trader.

I think it is all about patience.

Despite the many changes of Bitcoin and other cryptocurrencies over time, we should be patient and wait for the right time to execute our plan. We should be aware of the changes that is happening since with that, we can track the changes and come up with another plan pr strategy. Saying that, you should have your own record of the changes of your investment.

Even when your trading logic is solid, and based on watching other successful people, following the logic is the hardest part. It's simply not that easy, emotions get in the way.

For every single trader, these are very basic logic, if you don't do any of these you've been doing very wrong so far. I agree with every single step OP has talked about because these are basically the most important trading parts, without any of them you're looking at a trading that has no purpose and you'd never know what to do with your next trading since you haven't learned your lessons. So do these things but don't think they're going to be enough, they're just the most simple naked stuff you've got to do without putting anything on top of it, you're doing these things but then you're adding what you're doing and making it better and better the more you're dealing.

You should never allow your emotions take control of your intellect. I think emotions should be kept away when you are trading. If you are very emotional then a quick dump and lose can give you nervous breakdown. When you a solid logic and you are following experienced people you will achieve your target. Just set your mind before starting any trade that you will either win or lose, but both will add to experience. Positive hopes will keep you going.

trading logic is really very important.
I want to give one example about the traders in 2017 during the bullish season. The newbies in that bull made mostly more profit comparing to experienced traders. Because they could blindly buy and make huge profits, instead of taking the profits and exit.
But as soon as the bull season ended, these newbies lost almost everything. But the ones took profit could have something already in their pocket.

It's easy to say but hard to do. In reality, you can't easily set aside your emotional well being when it comes to trading. Of course, it's natural for us humans, to get panic and feel frustrated when our money is declining drastically. We're not robots after all ;D. However, we don't have any choice but to do so because these things could lead us to worse situations. I know it's hard in the beginning but you can get used to it in the long run :D.

Being creed and emotional in trading are not good once you enter in trading you should over come that to get a good profit. Manu traders are emotional once they see there holdings that drop the price. And many are become creed when they feel that they are lose big and they want to overcome this. Own knowledge is very important to trader.

Yeah never get your mind under the control of greed. Especially beginners want to gain quick profits. They should be careful about the fact that they are very new in this business and they do not know about the techniques adopted by the big traders. In the greed and wish to get huge amount of profit in short period of time they take wrong decisions and face big loses. Think from the mind not from the heart and wait for a good time for good profits.

Manage yourself and your trade also. Hard times are also the part of trade, but how you manage to deal with it is very important. Very good traders sometimes panic in hard times, they just take the dumb in the price as the end of world and are not able to manage the situation. If you have make the decision of investment and with the big heart have invested your hard earned money in trade, show some more capabilities by managing everything with patience and care.

Good advice brother, every traders biggest enemy is their own psychology. no matter short or long term, everyone had their strategy and analyst but when it goes to psychology they must strict. I had many experience which left me feel remorse back then, like why i buy at this point etc, but mostly is cause of greed i forgot my take profit point and want it more which left me burned after that. At this moment patience is very hard things to do, especially when price got sideways on this weekly.

Yes, good traders must have the patience for being rich or for earning money if they will be greedy and they will try to get rich faster they maybe lose all their money and suffer loose. So we should try to keep waiting if the market is not good for you. Trading is always profitable but we should keep patience and control our greed in trading its important thing in trading.

actually by having the science of trading, we will understand the situation we face, so it will not make us panic or be greedy. because when you have science of trading you know when to enter and exit the market and of course self-control is most important because it can minimize all these problems.

From your submission above you strongly believe that what ever trade you place you have a mind that you will lose your trade. If truly that if what you were thought and you believe it then you are trading like playing gambling.

Those are powerful advice which is applicable for most traders who are afraid of taking the risks in trading. We should accept the fact that there's no perfect trading journey and there will always be losses along the way but we have to deal with it. There will always be lapses and mistakes but we should always learn from it to do better next time.

This is one of the golden rule of traders. We need to manage our emotions because as we can see it really affects all the things in our life and it makes us frustrated and miserable. If we are not in good mood or in stable emotion better not to trade same as to gambling. We need to learn that we can only invest the money that we can afford to lose as well.

Some thoughts:
ad1. Get a strict set of rules.. don't try to rationalize everything as you can always find a logical reason to follow with your action
ad2. this is similar to 1. get a set of rules and simply don't trade if the criteria are not met
ad3. stop loss is meh, take profit based on your set of rules
ad4. thsi is quite obvious, you gotta learn to improve. if you don't, then others do and outplay you. staying in place is moving backwards.
ad5. is the same as 4
ad6. journal is a must. if you don't have your notes online on the chart then you need to keep it in a journal. it is a good idea even if you keep other type of reminders.
ad7. let's ;)

I think investors already know this.

New investors should be wary of this. As cryptocurrencies are very volatile, we should not be calm on the pump, hence we should be ready to what might happen in the future. You know, the best thing that an investor can do is read and read and read. Knowledge can help you a lot, it could make anyone rich to be honest.

It is important for investors to remind always, as a crypto member, it is always our moral obligation to at least help each other as we also don't want someone to be a victim of scam or any kinds of fraud.  We've been there before and with the help of other people, we learned, if not for other people maybe we are still investing in new projects, trying and trying our best.

One way technique for trader always use your money for investing with several potential coin and never invest and hold only with one coin, I think if you have 1 bitcoin you can invest several altcoin kinds and use 0,1 btc each your coin investing, maybe take worth for getting profit and stop lost when your coin assets not reach with higher price.

Based on the fact that emotions often move the market, we must learn to have enough agility to know when the movements occur because of emotions and when it is the action of whales, whales may often place their bullish traps, the trader Who learns to see this kind of movements, will have long-term gains. This type of teaching is what the great famous speculator Jesse Livermore advises in his books, although it was applied in the stock market between the years (1800-1923) they are currently valid and applied to the Bitcoin market.

Agree, we should manage our emotions because through controlling we might place best orders when we make profits we should use the profit wisely otherwise it is impossible for us to recover from the loss. In crypto, money management will play an important role in trading.

Even if you know how to manage your emotion, if you lack knowledge in selecting which coin is good to buy at the right time, that will be useless. You will just end up buying coins that you think based on your controlled emotion is good. Knowing how to read graphs and using tools in trading is essential, then next is controlling your emotions.

Lose and mistakes do not take your trading away from perfection. As every picture has two sides, everything has advantages and disadvantages, trading also have both profits and loss. Mistakes make things more clear for you than before and make you even stronger. The best part of your life is first noticing and then accepting those mistakes, and starts your journey toward a productive end.

Great idea record the reason when you open trade, I will start today recording why opening a trade I agree with you everyone should need to do record his/her trading for accurate his/her trading strategy.

Not only in crypto but money has to be managed wisely in every field of life because money is the only thing which can help you solve your problems and in many cases it is able to find to your happiness as well. I am basically of view that when one earns a profit in crypto market, that is the real time when one needs to show good control over emotions because that profit is the key for future investments. 

combining to invest in some potential coins can certainly vary the profits we will get. the profit we get from trading will indeed be better used to buy back some potential coins so that it can be interesting to multiply the bigger profits

Learn to know all basic about trading, charts, indicators and many more. This things is very important if you're going to enter to this field and upon reading some post of other members it seems they also said to control our emotions. Besides, our emotion have a very important role in our trading activity and when you let your emotion win and you can't control it, it will result to your big losses and can even lead to your bankcrupt. I'm not a good trader and I  am still learning more things about trading but if you are a newbie you should stick your investment within the top-performing cryptocurrencies in the market.

A good advice I can give to everyone is to make trades using your heads and not using your emotions and read and watch more to learn more. I've been trading way back I may say that I'm really noob that time all I know was if I saw a large red that's a great time to buy and it keeps going down and I obviously panicking and selling it at its lowest which is very dumb, the good thing is that there are some free courses and articles that you can use in order for you to step back to the game.

Now I know some of the basics and intermediates in trading and so far I'm earning a little unlike before that I literally doing shits to my assets. 

Actually, the first requirement before investing or trading is an actual amount of money ranging to a specific minimum amount to a maximum one before knowing what the basics are, because you can't do a trade by just knowing how to do it and what are the things you need to know about it, in the end the money is the first thing you should have here. If you are a beginner use only the amount you can afford to lose for less disappointment if ever you failed or do it wrong. Your experienced doing it will become your teacher for future trade, but if you still unlucky and doing it unsuccessful you need to seek for learning and advice to those who excel in trading. It is not only about  buying and selling of goods and services but also on what you can contribute to your party and society. Do not stick on what is happening today, see also what might happen in the near future. If you are brave enough to take a risk always give your best shot everytime you trade. Your mentality will be your great weapon to your success.

Most of the people see the profit, they don't check what experienced traders have to say, they do that only after they lose some money. I was like that in the beginning too, we all were probably. There're many good pointers for newbies who wish to trade. If I can give any advice that hasn't been mentioned is that newbies should take it easy when they start with trading, to not rush for profit. Spend more time observing the market, less time in trading.

Well, I accept as true with you that we should always act cautiously within the workplace additionally to recording work we should always keep a backup subfile because we will easily recover errors if they're lost or lost. Also I totally accept as true with your argument.

Personal logic with business logic must be one-way. If we don't manage to make the smart trades the losses are going to be massive and the wins will be tiny. You have to keep a close record of your trades and make sure you don't get stopped out in these massive fields of chopiness. You have to stick to your strategy if you trust it and have good money management.

I believe that a professional trader does not have any problems with analyzing his transactions and in general with practice.  Personally, I am constantly questioned by certain actions or plans, because I still do not have much experience in cryptocurrency trading.  Even when mastering scalping technology, I very often doubt the decision on which graphs to pay attention to, on the graphs of 30 minutes or one day.  Although for the most part it depends on the chosen coin.

While this method isn’t the most “efficient” way to trade and maximize profits, I believe this method allows you to have the best win percentage:

1) keep your long term bags in cold storage regardless of price action unless it lambo moons and it’s time to sell
2) keep your “play money” on a leveraged exchange and play the market each day or week as you truly believe it will play out

By following these rules: you won’t miss out on a lambo if your long term bag pops but you got caught trading it and ultimately you won’t be biased on your trading funds because of your lambo bags which will allow you to win more and at a higher rate if you use leverage.

Beating the psychological barrier to trading is the ultimate key to success. Hope this helps somebody like it has helped me.

Actually, I'm trying to use my new trading strategy. I use 24 tools on Investing.com and its correct rate is quite high. the indicators and analysis have been reported by them on their website, my job is just to see and see more buy signals I will buy or vice versa. My job now is to manage capital well and sometimes I have to look at the chart to know how much it grows and profit after that. I think this is a pretty good method and it will save you time. I currently have a 3.3% profit on my $ 500.

This is a very good advice. Having a mistake and having a loss in trading is inevitable, we cannot stop that thing to happen but we can minimize it soon , as long as we know how to trade and we understand the market. We need to learn in order for us to minimize the losses . We need to take risk in everything so that it could be a good lesson to us, whether we lose or we win.

Yes we all got to be considered when it involves business, but what's most needed is the catch you've got to figure to regulate your emotions you ought to always attempt to hold on to trading because nobody can say when a currency will rise. There are many folks who don't believe holding. a piece of honest advice for each trader is to research and trade in different places.

In the world of trading, many professional traders are also have their mistakes in trading even they know the trading logic. The digital currencies are intangible so that we can't control the price in every rate, once we input our money in trading platform we can't control it. Since we trade digital currencies they are also volatile and can change the value of currencies it may go up or down from time to time. So that even we know the way in trading platform we need to take a risk always, because we don't know if the price will go up rapidly.

This tricks is recommendation by every experienced traders for beginners because money management and risk management must be follow in trading does not matter beginners and professional traders. Crypto mentor is needed but not necessarily to someone physically helped you, specially for your supports youtube,blogs,books.

To understand whether your logic works or not, you simply have to analyze your actions in a long time frame. It will be very useful to keep a history of your thinking at the time of opening and closing deals.
Your brain constantly analyzes incoming information, therefore, in the process of the transaction itself, your decision may change several times due to new incoming data.
But most of this data is white noise, which interferes with thinking and is confusing. The analysis methodology will help to identify the right thoughts that help you clearly identify your correct actions
and thoughts of parasites that lead to errors and increase the error of your calculations. After analyzing your actions for a certain long time, you can say what you are doing right and what not.
As far as I know, a very small number of traders are engaged in such things.

That is the reason why we should be sharing some of those here.

A lot of people are creating a thread here about these scams so investors should be wary of the dangers they have in investing in cryptocurrency. Another thing is that it is common in this market so we should be extra careful. As an investor, before we put our money into risk, we should know what risks are we taking that is why I am always talking about investors should always read and never stop gaining more knowledge about this.

Thanks for sharing your experience you have suggested very good points and most important to me is your 3rd point to take profit and and stop losing any further.

Best of luck.

that is how a non greedy trader does,to keep profiting because the most problem of the investors is looking for higher profit even when market is starting to fall back.

also i wanna thank OP for this share as well because traders needs advise,either Old trader and New trader because sometimes when we are often in trading we are forgetting some rules that needed to be reminded to us.

In this life, everything is hard, if it is too thoughtful, and everything will change to be easy if enjoyed and lived slowly. I think the trade was only difficult for people who did not master the science of trade and did not have Experience in the field of trade, and it will be easy .

for people who have mastered the knowledge and experience in the trade because the trouble is only found after the tribulation. To get the science of trading enough to learn on the experience of the person who has done it, the key to success in trading is simply sincerity and mentally bold in trading.

The main step should be traveled by beginners.

There are several steps that must be traveled by people who want to earn money in the field of digital currency
-Study Vigorous
-Approaching people who are experienced
-Dare in action
-Do not get tired
-Patience in waiting for success.

yeah, just like a warrior!

Most newcomers are very greedy when investing in this market but after that time they will have more thoughts on this market. I think anyone is greedy and this is inevitable when participating. However, if you have an effective investment strategy, you should apply and always set the price to sell after buying to ensure profit. Of course, I not sure if this will help or not but this is my way to avoid greed in this market.

Recently, i am thinking how to mange the risk, this is the link about my thought. It may can help you :P

https://bitcointalk.org/index.php?topic=5249994.msg54473638#msg54473638

Good traders make decisions with relative ease because they understand their rules and what they are trading and looking for in the market. Their commitment to their trading plan and process is unshakable. The trader is a person who buys and sells financial instruments  in a financial trading market.

I execute it every day. I am in addition a newcomer at this time and I desire to trade enhance after a hardly any months as a result I sure to chart the directives of the before ones. They narrate you to hold on to a make a recording of your transactions every day for a round reason. at what time you lose, you calm down state to look after it therefore after 3 months, you will hold great to convert and take in someplace you went wrong. Besides, pleasing annotations shows that you are a considerably closely controlled anyone and it will set up a habit, it will get into you worship your happen as expected new and it will before long make up you added professional.

Thanks for the list of advice mate, it is really different from other common advice from other people here. We have different ways to win the trading but actually those ways are not 100% sure win because there is no 100% in terms of trading as well as the gambling and the investing. It will only lessen the possibility of losing your money. If you have content on some of your ways, just continue doing it, and if you find out that those ways are not working anymore try to change some of your plans and strategies to learn more and try new techniques.
That's right, those advice ar every common to all of us, those are very familiar to us in terms of testing, the good thing is that there are other advice that the OP has given which is really good.

Every thing we do in trading and investing and gambling is always done with the strategies we use, including in the trades that we discuss, all also have their respective techniques so that what we learn will make us profit in trading at least our target 30 % for profit then I think that's pretty good in trading.

All is not free from risk but we must be able to rebuild after we fall what we have done.

Trading depends on many factors that are not listed. We can't be outside of society, so it will still influence decision-making. Your wife's dissatisfaction with you may be sufficient to make a wrong decision in trading. So a lot depends on how we respond to difficulties that are not related to trade.

Yes, i am agree with you

Seems you have unforgettable experience bro

Of course, every trader must be afraid to experience a loss, even though the loss must be brave we face. Therefore learn more
regarding trading strategies, in order to improve our ability to trade and that can help us not to experience losses. Then the advice
that was mentioned in the opening post is good to understand so that every trader can avoid losses, and can produce maximum profit too.

Good traders make decisions with relative ease because they understand their rules and what they are trading and looking for in the market. Their commitment to their trading plan and process is unshakable. They do not let other people's opinions affect their judgment. They've learned to trust their own. many traders will lose money and it can't be avoided. All sorts of reasons are given for the losses, including poor money management, bad timing, or a poor strategy.

Trader is a person who buys and sells financial instruments  in a financial market. Traders may trade for themselves, on behalf of the institution they work for or on behalf of a client, acting as an intermediary between the client and a market maker. The most important thing single biggest reason why most traders fail to make money when trading the stock the market lack of knowledge.

Every trader has its own trading policy. As a real trader, he should be analytical on his own trade. Your advice is the part of this analytical process. Many traders engage in trader in a belief that their investment will give them lot of profit but after some days they loss their capital. Because they enter only the market without knowing the rules, policies and trends of the market. So, strategy is very much important for trade and every trader should have the ability to outline his own trading strategy.

Ya, so that why so many people want to become a quantitative trader :D

I think no need to written record, as a trader when we did mistakes that's our main record into mind. Next time when we did trading our memory give signal every time. Yes those are new to trading they can follow your rules and i think it will give benefit for them. Finally a man who trade more and more will be experienced person and mistakes will be lower.

"3. take profit and stop loss strictly"
I think that's just a theory. Easy to say but how many people can do it?

Sometimes you should listen to the analysis of others and from that you can either make you own analysis or add some analysis so its safe where you gonna enter or exit. Recording of your trade decision makes someone confident about trading, some people forget why they enter or exit. Emotion is very important and patience in every trading decision.

Most of the technical advices have been and I am glad that the quote above mentioned that emotion plays a role when trading, it might not look that much but I think mentality is something that we should fortify because there will hardships in trading that will break you down physically and mentally which is worse than the latter. My advice is more on practical so it might help some, and some might disagree and I am open to ideas just like others.

• Safety net- create a cushion for yourself when you are trading, remember to have emergency funds for the times when you experience losses, this safety is not for trading but for your daily sustenance when you are experiencing loss, it is advised that a 3-6 months worth of emergency is needed for insurance but if you do not want to you can set how many months of emergency funds you need.
• Side Hustle- do not put all of your time in trading, do other things that you can earn, if you have other skills that can be utilized as a free-lancer, or better yet is have a job or if you have a job when you are trading then do not quit yet because you are still starting to trade so this pretty much goes back to the first advice.
• Avoid debts(if you can)- debts is the greatest enemy of people who wants to become financially secure, but I disagree with that because if you know where to borrow money then you can use that as an advantage, one example is credit cards, you can get one and spend a portion of it and make sure that you can pay that spent portion when the credit is due, and that routine on time payment will earn you a credit score, which helps you in the long term, when you want to apply for loans and you have a positive credit score then the process will be at ease, it has no connection to the trading advice that I have given above but I might as well share this because we can use this to benefit from it.

in addition to conducting analysis, the spread is also another important factor. so far, many people have done an analysis of price movements. however, not many are patients, and some people write on their social media walls that they regret not being patient.
be patient, and having information is very important in trading.

I usually try not to hear others analysis.
I did once and I was forced to buy a coin that was not profitable and I wouldn't buy it if I didn't listen to this stupid analysis. There are a lot of people who give false info in order to pump coins for their own benefits.

Yeah, don't buy it just because someone said buy

In the year of hard work and self-reflection on your trading strategies pushing the success rate up to between high price in my experience. Discussions with other firm managers reveal stats the market. The true statistic is probably somewhere in the middle. Good traders make decisions with relative ease because they understand their rules and what they are trading and looking for in the market. Their commitment to their trading plan and process is unshakable. They do not let other people's opinions affect their judgment.

Having a trading tool that benefit traders, check out HyperLinq, their app Hypertrader is in beta so free to use and they have a strong presence in discord as well.

App Info: https://hypertrader.app
Discord: https://discord.gg/JsgvfUQ

Yub. You shouldn't hear or follow any other analysis. You can take their advices but don't bet your money in it. The best way to deal with the market is to equip yourself with informations, statistics, skills. You really have to study seriously about this market before joining it to avoid losses.

First start small amount only.Protect your trading capital, limit your risk per trade to a maximum of a 1-2% of your whole account to reduce the effect of losing as you will preserve the majority of your trading account. Study the market flow and always use a stop loss to control your order.

It's a very good advice especially to those new in trading there's a lot of new trader are complaining to their lost because of lack of knowledge about trading. Hope this is a big help to them. Hope that they can read this advice and tips to earn in trading.

I like this,Clearer mind will always save us from wrong decision making like what most traders do to fail.

I remember some Hot headed friends that always cry after failing.

Without realizing that the main reason why they loss is because of their un predictable mind.

---

and also Calculation is one good thing for taking a  trading,some has this but making greed calculating their incoming profit so in the end?

it is losing is what comes them.

How many times we will say that BOTS are not the effective in any circumstances? Yes, bots are useful depending on the market situation and your strategy, but it is not guaranteed that this bots will give you huge profits than a manual trading. That's clearly not a good tip, especially from beginners who wants to grow in trading.

Traders should not rely on a trading bot no matter what happens. Trading bots are just an alternative way on earning profits and that's not a 100% win if you use trading bot everytime. Risks are still there and you need to minimize it and it is easy to do that if you always perform manual trading in the market.

Manual trading will help you improve your technical analysis as you always monitor the market situation and that's the good thing here. You can improve yourself in making effective strategies that will help you win most of your trading transactions.

This is simple but for sure it's very difficult to apply especially if you are new in trading cryptocurrencies.
It's just like you are planning everything well but when you try to execute the plan something's wrong.
Well, it's normal for every trader sometimes. That's why if we need to become a trader we should really have a calculation plan with controlled emotion and cold headed/not greedy.

Already pointed something important. I can only say to set your goal first with your assets. Patience must be needed in this respect.

True, think what your goal is.
Have plan and strategy then stick to it.

The tips of op are helpful to traders whose having a hard time building their own trading logic or plan. Anyhow discipline and patience are needed to do this.

Planing and strategy are very important in trading, I agree. However, many traders forget about that and trade along the way making decisions ad hoc. That can the risk in trading make even bigger and lead to unnecessary losses. Although plans might change according to situation in the market it's better that you always know which path to follow to achieve your trading goals.

Each of us has our own goal and strategy in trading just to earn money from it. Sometimes it's good to follow some advice but we are still responsible on how to use it to meet our goals and to avoid loses. Also our own experienced would be a great learning tool that we can use to improve our strategy and to develop our trading skills without the help of others because in trading we can't rely to others just to earn or to avoid loses. It's all in our hands.

You need to set your goals and the right attitude to achieved and complete your journey, discipline played a big role since it's the tools to make sure that you are sticking to your plans. If you properly set everything up the outcome will take you positively as no matter what will happen you are capable handling each situations that might strengthen you to continue completing your success.

True! Besides, you should learn how to do risk management. When you set your goal, always think about the worst scenario. In that way, you can set your cut-loss target! Of course, you'll do everything and try to achieve your goal. However, in bad circumstances, you need to be wise and absolutely careful to remove the risk and accept the losses!

It all depends on the size of the initial deposit. And if we are talking about just a few hundred dollars, the amount of 1-2% may be less than the minimum that is set on the exchange for placing an order. Therefore, the owners of a small deposit place orders for the entire amount or use margin trading, thereby increasing the chance of losing the deposit.

risk management is very important...
traders who do not have risk management will only make themselves lose their assets, becoming a trader is not an easy job, it needs a plan and a mature concept in order to make a profit.

I agree with all the points above. But you need to try several strategies. And then choose the best one.

Managing risk is not always easy because if the market is not stable, you will certainly be very difficult to manage and will tend to panic when this happens. I think that before deciding to invest, there should be two plans to prevent the unexpected happenings that you can not anticipate. I'm not good at risk management but know when to stop and when to continue.

A well-planned plan and concept will make it easy to trade. Having a good trading strategy will give you direction where you need to go and make decisions. also the most important thing is to regulate the capital used and regulate the piscology so as not to hesitate in making a decision. Then later it will be followed by technical analysis, fundamental and sentimental analysis.

It is very difficult for things to go exactly as you think because I have been in this market for a long time and until now, I still have a lot of big risks in investing. I think that just having a clear plan at the beginning of trading is enough and needing a backup plan when the market suddenly has a big adjustment. Every investor's decision will affect your current assets so try to try.

Really? The last time i checked everything businesses/investment have it own risk involving and some plan also failed, my plan this year was to increase my computer skills so i can make an impact in crypto scheme but i can't do it now due to the pandemic.

Fear is the greatest enemy of success in very investment but it doing something new a day without successful execute one and finalize the result before moving to another is not advisable.

It is indeed very difficult to carry out the plan of walking exactly as we think. But trying to stay on the track is a safe choice. The problem is that our mental or psychological readiness will still be affected. Regardless of the novice trader or professional trader, mental readiness will be the most difficult to handle.
plans and strategies that are well designed will be damaged by a state of psychology that is not ready.

Emotions needs to be settled at it's best, if you have good control and you really after with your success, controlling your emotion is achievable.

Indeed, you are the only one who can suppress this emotion and once you did it right, it will be more easy to you to keep moving forward.

Better to practice and never to stop learning how to adjust in every situations that you encounter.

Continue to learn and correct mistakes that have been made so that they are not repeated again is something that must be done. Adjusting to any situation will be very helpful. the only way to practice psychology is to do hands-on practice. Feelings and thoughts must also be calm and there is no burden whatsoever.
Indeed, it is very difficult to achieve that calm, sometimes greed also makes everything destroyed.
I realize that controlling trade psychology is very difficult, but can be controlled by continuing to practice.

   Isn't this something that we can apply on everything we do!? With more practice and more learning we can be better
with time. But before we get better we can lose some money, and we can think of it as paying a school.
   AakZaki it's difficult to achieve calm, when we deal with money it's even harder. We always think about loses and profit,
and that confuse us and we make mistakes. It's why I chose long-term investing over trading, it's more peaceful, and can be
profitable as well.

Hey ;) I'm here to ask you for some advice. Recently I've been holding BTC and now I've sold it. Wanna know which alts are more profitable in your opinion at this moment?

I guess it is not always the best choice to always believe in your trading logic.
Sometimes you need to be open about new knowledge that you might have during and after any trades. If you found out some flaws about your logic, then better to accept some new ones.
Do not be stucked of what you are believing from the very beginning, unless you continuously prooving to yourself that the logic is positive and working.
But confidence is a must on trading. Believe your logic if you are confident.
Base your logic from statistical analytics tho.

Are you a newbie in trading? If yes, but high market cap coin such as $link $bnb $eth, but if you got trading skills you can look out for some small or midcap coin in binance exchange such as $knc $algo and some couple others, always ensure to DYOR

   Carry_Copper I hope you didn't sell your entire balance in Bitcoins, you should keep some amount for future. It's good to
have alt-coins, but first pay attention on top coins, later you can start adding alt-coins, but don't deduct from existing amount
try to work more and to find money for investing.
   Leo I have all those coins you mentioned for long-term holding. I would like to have them more and I am working on that!

I've been practicing the 2nd to the 5th one and to be honest, I've been making profit so far. What I've learnt from this post is believing in one's trading logic which I think I've never taking into practice and this have been making me make small profit because I cancel limit orders at times and after closing it, I always wish I had left it there. I hardly believe in my logic and I use to know if I had been using that logic, it will be working out fine for me.. This is a very good advice for traders.

A first advice to any trader is to choose a right broker and then right strategies. A broker determines your half of the profits. You will surely loose out if you have a broker with high trading cost such as high spreads. A broker that provides excellent service should be the option. Second, a right strategy, a strategy that works for you. Another advice is to be patient.

The above peice of information are very good. Most traders failed because they lack trading integrity. Doing what is right nomatter the situation of the market according to your master plan which makes you to enter into the trade in the first place

It will helps them to prevent those passed mistakes that we encounter when we
are all still a newcomer.
Helping by sharing those experiences will open their minds to explore more from
this venue of investment.


In many point, advises and personal experiences are good basis when some new
comers begins to trade.
Living with the information it will lead them to a much better patterns to follow
and succeed from this market.

but its possible to start working without a plan  ? thats confusing and you could get lost while most that i see is that they knew how to work themselve to keep going.  it means that they have thier plans too and it can be a perfect or imperfect plan . people that doesnt have a plan can realize or candream of sucess too even without doing anything but thats not good   .  better if we plan and work hard first , dont mind the success because itl only make your way rough .  success can come in the end and that is the best feeling .

These are some pretty good "rules" to go by when "trading' but the truth is that most people currently trading, shouldn't be.  Trading any sort of financial asset is a risky play and only until you have you short/mid/long term financial in place, should you consider doing short term trading.

You're right, as a trader ensure to strictly follow your master plans; not to get into the wrong hands during execution. Many traders had fall short of this and many had ended up bad. If you're to stop your loss kindly do when the time comes, when you define your percentage profit don't exceed your defined rules, integrity matters alots in cryptocurrency trade.

Not only that, the right strategy is very dependent on your personality as a person, it is easy to think that holding your coins for the long term is a very profitable strategy, and it is, but what if you are a person with very little patience? In this case trying to hold your coins for years or even decades is not really the best option for you and you will need to find another way to make money in the markets, maybe for that person day trading can be a better option that will suit his personality way better than holding for the long term.

To have personalized strategy is very important and not only because of the personality of each of us. We all have our short term and long term goals and it's very important to follow that so that we put our efforts in that direction. That will also define if for that goal is better trading and what kind of trading or maybe just holding. I find that having vision and a plan is very important.

This fluctuations that always showed inside the market needs to be on your master plan, knowing or expecting that there's  a sway that will take
place would help you to stay focused with your original plan.

Wise traders keep things accordingly, plans are intact and it will not do any executions without seeing the value of their decisions under the same
strategy.

The importance of having a personal trading system cannot be over emphasized. Often times, I've seen people make trades without having a plan, system or even documenting their trades. These are the little things we do that matters a lot. Earlier on when I started trading, I did so without a system. worst,  I wasn't managing my risks or documenting my wins and losses. It didn't take long for me to realized that I've been doing it wrongly.

For instance, documenting my trades allows me to:
- Identify pitfalls and areas where I'm lacking. This way I can focus on my weaknesses.
- Keep track of my trading performance
- And more.

Thank you for the advice. I keep it in mind. At the moment I hold some $btc, $eth and I've got some $doge
I guess $doge can pump soon. At the start of  July it has pumped and then dumped a little. Guess it could repeat

Another critical factor is to backtest your system, after all many design a system to trade the markets but how do they know if it makes profits in the markets? The only way is to use it while taking a look at the past data, but there are many problems when doing this as people have a tendency to use their knowledge of the past to make their trades making the test useless, so for the most part you need to create a set of rules that gets you in and out of the market automatically so you can verify the legitimacy of your strategy.

Most are unable to trade, that's right. But in order to understand whether you are able to trade or not, you need to try.
Most people will not take your call seriously, because we all think that we are special until we step on the same rake several times.

Everyone who wishes should try himself in trading, as he can.
Someone will understand that he likes it and will stay, someone will "break his nose" on the first deal and leave.

When someone starts to delve into something new - it's always difficult. It's important to have a little patience and endurance

Sometimes you missed out why you open a trade so it’s a big reason for us to record every trade we made. This might help us in the future to be our reference before we will make a trade. It’s not bad to look in analysis of others but also we need to check personally to make sure that we will not blame ourselves if the analysis is incorrect. Always find different analysis to trade and master the basic.

While not perfect you could use paper trading as a good way to know if you can be a good trader and not put your money at risk, if you can trade and be successful when you paper trade then you have a chance when you try to make money in the markets but if you cannot paper trade successfully then forget about it since trading with real money is many times harder, anyone that cannot rise their capital while paper trading will have no chance at all in the live markets.

First of all, this advice is for all chores - no matter what realm we go to work in, we need to be patient. Traders should interpret and understand everything in detail. Another gadget is to have the mindset to adapt to all kinds of situations. Only then will achievement come at work.

If you want to be a trader, you have to make a goal. It is better not to do the work that I did trading in any way. To trade, you have to put all your endeavors and go down to the meadow. Nonetheless, it would be wise to invest as much as there will be no dilemma if there is a loss. Contrarily, you have to deal with big threats. It will be possible to be a good trader and do something in life.

Being an individual trader first you need to have Passion, Self-discipline, determination, and Patience also you must
know how to use TIMING in the actual trading too. These all will definitely give you a good guideline behavior as an individual
crypto trader.

first thing when we will be traders was set our plan for each trades. dont ever start trade with real money without any plan at all or we will loss money when take wrong action and decision. understanding about risk investment will help us not to be frustated when we got it, so we will not blame anyone when it happen to us.

There are many rules needed to apply in crypto trading. Don’t be greedy in trading. You must know how much you will need to win. When do you stop and when do you need to keep going. It’s better that you have goals like 40-50% profit. Always do you own research and analysis in order to take full responsibility for the possible outcome of your trade.

It will take time to adjust for the market because in the beginning, every person will look out for fast profit and in the end they might loose money, he need to experience in all type of situations and it will help them to find the best possible coins to reach their target, in trading, waiting for certain period will always help them to get huge profits.

Indeed. You shouldn't hurry yourself to earn huge profit everyday in trading because it will only harm you that you will only lose your profits. So to avoid that, you should have patience to wait for the right time or to reach your target in trading that will definitely give you good profits or a successful trade.

To know the timing you should be knowledgeable.

That is the secret in order to make better decisions. Without knowledge of trading and other things that could affect the price movement, despite passion, determination and patience, that would be short for being successful. Always try to increase your knowledge and gain information as you go.

Almost people worry to stop after reach profit or lost, when getting moment price on higher they will hold for long term and never try to sell although raise profit above 40% but when lost they hold again and not brave to cut lost and take save their money although little less, this emotional face by trader when start investing with cryptocurrency.

Before you trade, you need to be careful about how much profit you make and how much you lose. Best of all, if you spend most of your time learning how to trade then we are often frustrated by the loss of the trade, so we need to be careful and try to make as few mistakes as possible. Since we are in a new situation and everyone is trying to make more profit we can say that we will get away from this idea.

If you have experience with trading will give good moment what have to do when price raise up and down, maybe almost trader will take profit about 10% until 30% and sell their coin after reach profit target, never hold coin for long time because give bad impact when price suddenly down.

We all know that patience is the key to success. In here, price can be less more than you expect or think. So you have to be patience and cool. You must have believe on you that your strategy is the best and you will win by using it. As my previous experience with trading, I can put those things as advise for newbies. Though I also replied a message on this thread earlier.

The first option what is Trading logics is the most important in Crypto market.
So I want to remark your advice by saying that You guys go for technical and Fundamental analysis.And this is a must for all traders.

Patience can still be risky for investors if they choose the wrong coin and any decision of the investor will affect the profit. I think the most important thing is to have knowledge and should spend a lot of time researching before buying.

Another thing is that trading is risky and this is something you can never avoid when you decided to invest in this market.

These are basic things we need to follow when we are into trading, in crypto timing is very important because you need to place the buy order at the time for making profits, even though you face loose, you should manage them to recover your losses without afraid about the market situation.

In my opinion, there should be specific investment strategy and it is necessary to research carefully before starting to trade. Another thing is to have good psychological preparation when investing because if you are not in a good state, it is very easy to panic when the market fluctuates. I am very careful when trading and always set a stop loss level because there is no certainty when you invest in this market.

Never hearinga ny advice from the other because they can make mistake what have you said above when bitcoin have good price $20,000 many expert give opinion bitcoin will to the moon and reach above $30,000. But in fact bitcoin going down and many people lost much money and have cry.

I don't see any wrong with what you said, those are almost right and true.
Probably, the only thing I could say is as a trader individuals let us have a characteristic of having a
patience, setting target, self-discipline and Passion, just like that only. Good luck!

Thanks for your advices for trades. I personally still newbi for trade . I have learned about trade from my experience that sometimes we will face the loss when trade. It is no problem while the profits is still more than losses.

All that I will advice is to work with proper plan and method. If we do that then we will gain well and consistently. I work with FreshForex broker, as they are awesome with low spreads, high leverage and also 101% Tradable Deposit Bonus (https://freshforex.com/traders/promotion/tradable-forex-bonus.html), so I just love it.

As long as you can stand you're ground, that is fine.

That is obvious that you don't need any advice if you can do things yourself but this is a speculative market, no one knows everything with certainity that a certain coin will be having a good movement that is why we usually based on what is happening that can affect it and the indicators on the price chart. No one knows what will happen and losing because of that is inevitable.

From me, I personally trade for low interest. Max 10% is okay for me. If anyone tries to earn huge money at a time, he can lose his capital too. So trade for low interest. Hopefully after all, you will be able to generate good profit.

Your strategy is good and it is good for all new small traders to know this. In fact, i don't have a list of the lowest and highest profits in trade because I'm happy with the profits i make every day. There are many new traders who fall short in meeting the more tempting targets. I think they need to be more vigilant and refrain from losing capital.

When you dream better, you are greedy.
When you sell it, you are weak hands.

In my opinion, it is better also if we can maximize our profits but not to the fact that we dream that it will goes 1000X, it is really a joke. Unless you are a long positional trader. Let us be honest, we tempt to sell it on higher price because there is a profit that we will get. That is how market becomes hard to predict because we don`t know if it is the limit or it will continuously move. But my advise, taking 10% target consistently than dreaming to be a millionaire in a day.

Precisely. No one knows how the market will behave after some time, because in

a single second or minute changes can take place.

You have to make your position according to how you plan and never to relied with someone,

it's much better to find your own strategy as it will build a much better future for your trading investment.

One of the reasons why many traders fail is because they cannot manage their expectations very well. There are many traders who keep getting rich quickly where they keep expecting that they will have a massive profit like 100x or more. When we do trading, it requires a good planning and wise strategies. You cannot just enter a trade without putting stop loss and target profit. Imagine if you do not have this kind of plan, how you are going to win and make in the market? Majority of people losing in trading because of lack of planning and they do not give care about risk management.

It is not that bad to be optimistic.

Despite that, you should be able to take what the movements and not be carried by emotions because what you dream may or may not happen, the price changes? That is the reality. Dreaming better is good but you should know that it will not always be marsmallows and rainbows, life hits hard and if people want to dream higher, they should be strong because they are the ones that will fall harder.

we must have a logic for each market so that we know and how we mine the right and right way to get a big profit. because if we don't know the market price we will be a big loss too.

Loss is another side of trading. If you have no much courage to handle it then may be trade is not for you. Two things i like about OP's points, one using stop loss and another the cause of earning and losing. Probably we all know about benefit of stop loss. But we don't take lightly about the cause of earning and losing. If we take that point properly it might give us more experience and help to begin a good trader in future.

I believe in invest what you're ready to loss and affordable to loss..because trading is unpredictable... you need to analyze it carefully and you have to be ready for taking any risk... I envy those people who have skills of analyzing trading and have these mathemathics and probability skills..maybe because they have passion in what theyre doing.. and again they're willing to take the risk of might they loss or win..

In general, anyone who has at least minimal knowledge and skills can take a risk. If you have problems with this, then I would advise you resources for practical exercises, with real market indicators. At the same time, you do not deposit your real funds, and the resource itself provides you with funds for trading. Such simulators allow you to get the required starting experience and skills.

Little knowledge is not enough because the cannot understand the market situation of the Bitcoin, firstly, they need to familiar about the fund management and this will surely help them to manage when the market is dropping, many people failed to balance their portfolio because they will not manage their fund management on the right time.

Everything is correct. However, the “Forget it” advice may be too hasty. Everything will depend on your perseverance and inquisitiveness. Anyone can learn to trade at any age. It all depends on how much effort he puts into it.
You can trade on paper for a year, and come to a certain skill, even have very weak initial skills. The more you train, the more abilities you will acquire. Especially in those moments when you stop believing in yourself and you want to quit.

First of all, every trader should believe in his own trading logic. Lossing is not terrible but it needs a lot of patience!!

Here is some advice: 1. Believe in your trading logic./ 2. Record the reason when you open trade./ 3. Take profit and stop loss strictly.

The Forex Market has a high level of price movement which means that there can be fakeouts. This can move you out of your position. We recommend that you find strategies that will allow you to put a stop loss in a place. That will keep your trading from being stopped out quickly.

For me, i think as a trader you should learn firstly how to trade, develop and master or master existing trade patterns, methods etc and also learn to tweak your strategy to suit the market demands. Because the crypto currency market is not the same each day. As a trader, you need to understand the market emotions, understand when to trade, understand when not to trade and always take profit.

having a good principle is very crucial in trading tho, most people who lose a lot are those who are impatient.

Completely agree with you. One definitely needs to read and practice a lot in order to be good at trading. I also use trading tools that help me with my portfolio management, since I have accounts in 5-6 exchanges, from which I use 3 regularly. The recent tool that I found is called Cryptoview and I use it to synchronize all my trading accounts. They support margin trading, stop-loss, etc. – https://www.cryptoview.com/ is their website.

Trading is a good way to earn profit in crypto but as a trader we need to consider so many things and also we need to control our emotion, beause in trading we can experience everything there are loss and sometimes we can win or earn but the very best thing is we can learn, learning on how to do perfect trading is really important and that was already earning we can earn profit and we can also learn more about trading.

I agree that impatience is a very big vice for a trader. Most unsuccessful traders trade with little or no patience and it is therefore critical to understand why patience is one of the most important “ingredients” to becoming a successful trader, and can actually make you money faster.