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Staying at home has helped me to study and learn and today, i will be referencing the key virtues that is learnable to be a trader

Trading psychology refers to mental or emotional state that defines or dictates if a trader win or lose.

Why do traders lose?
Neutrally, most traders are attached to their funds and capital which affects their emotions and force traders to trade not to lose money.

I advise that we all Have a winning mentality while trading, Because in the market today; there are tendencies to lose few dollars or money on every trade, but we can overcome by having a solid reason to enter a trade (DYOR).

5 fundamentals to help traders in the market:

1. Discipline: Coming into trading with a mindset not to gamble. You can use TA (Technical Analysis), because it teaches discipline to use it. Fundamental analysis meanwhile is about understanding market emotions correctly and trading with it.

Discipline helps you to see exactly what the market doing.


2. Patience: To be a patient trader; it means that you understand what the market is saying and the emotions attached, what the market could likely do and being calm and composed enough to follow what you see.

Why do traders/holders buy or sell too early ??


It happens because they do not know what is happening in the market, being patient while trading helps you to read properly and perfectly your analysis to a definite stage and also helps you to understand whatever the market is showing you without unnecessary emotional attachment.

To be patient, you need understanding, and to understand; you need to build a strong the fundamentals of what you are understanding.


3. Planning: Planning goes down to your analysis, your position sizing and also your trading psychology. For planning to help, you need to understand your analysis; and also understand that you must not trade more than you can afford to lose, once you go overboard; its gambling.

Planning helps you to accept the probability of how much you can lose and equally what you stand to gain from the trade.

Planning helps you to accept what will be earned or lost from the trade.


4. Persistence: Persistence helps you understand that the goal is to make more profits than loss.

5. Flexibility: This is quite difficult because as a newbie trader, you might not understand perfectly what the market can do; and there are some market moves that comes as a shock. Recent example is bitcoin losing 4000$ in a stretch few weeks back.


Discipline keeps your focused
Patient allows you to learn
Planning keeps you level headed
Persistence keeps you in the trade.
Flexibility allows you to combine all of this to trade.


And finally

Trading psychology is more of understanding people’s emotions and yourself

I am open to learn even further, and i welcome everyone suggestions

Many traders are share also information like that it is ordinary because I saw many thread who share idea about what a trader needs.
But still thank you for creating this maybe they have some details that we can get and use in our daily trading.
Also it is guide for them and hope that every traders will have that characteristics to most of us will earn money.

A discipline trader will always win on this market and I’m sure they are confident on their skills. This is a great insight and advice mate, though a right mindset should be learn by everybody not just a trader by everyone who are investing their hard earn money. Patience is fine but if you don’t have good discipline then you will still lose money.

Patience becomes a very important part related to the emotions and psychology of traders.
Because if a trader does not have patience and stable emotions, planning or trading strategies will not be implemented properly and reach the target.

Patience is also accompanied by discipline in planning that has been prepared and does not violate the rules made by yourself.
I am also still learning to control my emotions when I trade, but sometimes I am inferior to emotions and start to worry about what steps to take when trading.
Every trader has different characteristics and mindset.

Crypto trading is really a interesting stuff if things goes our way, If you want to be a successful crypto currency trader we need to make a right decision to secure a profit.

Decision making is fore most important thing if it goes wrong then you lose money, also Investing in a right coin too is important else things will go in a wrong way. It's always better to research several times before investing in a coin.

Very interesting topic especially to the newcomers of a crypto trading business. I like to read this kind of knowledgeable stuff because until now I still sharpen my mind when it comes to trading. Just like techniques, tips, and of course those all kinds of analysis.

For me, discipline is the most important because, in that way, discipline will handle and always remind you to avoid your decision becomes worst. Maybe you forgot this kind of mindset, never go in trading if you have a negative emotion, just like when you stress, angry, depressed or even maybe you are drunk. Because you can't control your self at that time even you have self-discipline.

This is a good advice and guidance as well which will help upcoming traders at the same time helping experts to re-evaluate themselves. In addition, I would like to point in one thing which is greed. This is also one of the factors which makes traders lose money, mastering the act of removing or resisting greed from/during trading will go a long way in helping as well and this can only happen if the trader is disciplined enough to resist it and stand to his views about trading. Lastly it is good to be positive about trading altogether, because it helps to shape the right mindset.

I have some friends who are very disciplined traders who always buy and sell at a fixed profit or loss level.
For example: They will sell as soon as the profit reaches 3% or lose 5%.
By such disciplinary deals they have achieved success in this market.
However, I'm not a disciplined trader, so I chose for myself a long-term strategy.

Patience mean waiting. Waiting for the right signal is easy thing to do but this will really take a lot of time wasting that will not turn you an aggressive trader who will earn almost every week.  It may vary which indicators you use and your trading personality. Some people are just not risk takers so they will wait til RSI tell them that BTC is overbought in the monthly chart which means he has waited for months, that could either be discipline or time wasting.

Its so much to read but i think you have done well with your summaries and i hope you do put it to practice

In addition, do you know that even with proper planning, disciple, and others, without a proper method to do your own research and get facts in, you would be lag behind ?
Nothing beats a well research investment, you will always win.

And this thread also applies to bounty hunters, who always want to earn from bounties

Hopefully the newbies would be able to read this, because I am pretty sure that many of them will panic at these kinds of situation.
The volatility of the market leads them to an impatience and that should be remedied by at least discipline.
I would advise OP to at least share an experience from how does these mindsets can help traders especially the new ones, because words are easy to say rather than done sometimes.  :)

Learn from your mistake is another important think should be followed by a crypto trader, which can be related to patience as well.We need to take notes when we lose and remember what we did wrong there and try to get better at them next time and there will be a new problems again and again so keep learning so one day you might learned everything so you can go hard without any fear.

Experience would be the best key to keep you learning from trading and these different mistakes that will keep on appearing will give you lot of lessons to learn. Patience should be the best virtue in trading, because without it, you'll never last long in the field of trading.

I agree with the point that in the end it is greed that kills the profits of a trader and turn them into losses, secondly i think one should first fully learn to read charts and then enter only when he sees atleast 2 confirmations with this strategy he will surprisingly increase his winning trades ratio, this is something i am working on myself.

These are nice traits for a trader but to be honest, the most important amongst the list are patience and discipline. These two matches on our needs. Trading is a risky business and we all knew that. Going to do some trading needed skilss and mentally prepared attitude. You dont want to be running losing just because you cant handle consequence.

There will be none if you follow your own rules or standar when it comes to gambling on market trading.

Also you can add the experience OP upon seeing important parameters and key points on trading. Analysis helps but these arr also factors on helping us improved our skills.

Reality check. This really happens.
Falling in love with the coin or because of the members that are making positive statements about it.
This happens mostly in telegram groups or discord.
I had been there. I saw it. I felt it.
Loved one coin for like a year and putting my trust that it will moon someday.
Worse happened, it did not. Went to dust.

Learned my lesson and moved on already even if those were large amount of money.

That's a good step by step strategy in lessening the risk in trading. You'll be surprised after you gain enough experience and make good trades unnoticeable how you have improved in analyzing market movements and TA's.
I've been in the same track as you before, but my day job demands most of my time and I ran out of patience to trade while I constantly lossing due to lack of focus and composure.

Discipline is hard to achieve and we should focus on having it especially if want to profitable in the volatile market. Being a discipline trader is all about following his plan where he follows to cut his trade if it achieve the invalidation levels. Being discipline trader can help us to earn profit and avoid major losses.

Nothing is hard to achieve if you have the determination. You can become disciplined on your own rules as long as it works. You dont have to follow some well known "guru" and their preaching to become disciplined. Have your own code while trading and follow that, doing so is the key objective of being disciplined.

But being so will not be something that is fullproof. You will lose money and that is a part of the trading experience. Some days you will see green across the boards and make a lot of profit, other days will not be same. So important thing is you need to be versatile and very flexible about losses and profits.

we have to face reality, people buy a currency and then the currency falls and they don’t use Stop Loss thinking that the currency will recover soon, but time goes by and the price of the currency keeps falling, but what makes me shocked Is to see the continued optimism that the currency will rise eventually, I am not telling people to stop being optimistic, but one cannot be optimistic to the point that the optimist is a certainty. We have to trade using Stop-Loss always and never put feelings

As i can observe about trading.
You can control the price if you hold a large amount.
It is the best way to manipulate the price.
But with the existing regulators of the price we cant still predict what will be the price for tommorow or on the future.
Thats why there will be always a risk involve on every trade you make.

What OP says it is right, and I agree that add discipline in the first because without having discipline we can be drag into deep things that maybe we don't understand, and that can make us get losses in trading. Learning discipline is not easy, but we have to do that if we want to be a pro trader or in another field. So with having discipline, we can learn step by step about trading, and we can get the time to practice the lesson, and we can hope that what we learn can help us to improve the skills.

as we know that trading is a very high risk and also very profitable if you are an expert trader. Most lay traders trade and lose a lot of money caused by panic and cannot control their emotions. but every trader I think has a different strategy including you. for me to gain profit in trading is when we can be patient, be able to control emotions, understand coin price movements and not be greedy.

The OP is very accurate, the reason why traders fail in this market is that there is no discipline and impatience. These are the two main factors that help traders to succeed in this market, they need to trade disciplined and always have the patience when needed. Don't panic if the market collapses

It's the reason why many newbies to trading always said that it's a scam. They didn't manage their emotions towards the possibility that they can lose their money. It's very important that you have those factors like OP said because it helps you a lot. Many people will always traps in wrong movement if they lose one of those factors. We should also learn how to get trading signals by analyzing the market situation and from there we can our analysis in proper execution in the right time to buy or sell.

You can also consider this;

• Creating RISK Management Plan in Trading.

-Not just the plan but the risk associated with trading. This will assist you all through out your trading, it also lessen the risk by managing the stop loss from your trading entry.

• Disregard GREED

-Setting up your target profit and loss is important. If we set some limit, we can manage our greediness. Remember, this type of emotion won't be a help especially in trading. There are times we wanted more profits but ended up being deficit.

It is always very easy to talk about the rules of trade, but it is not easy to follow them. usually about the trading rules speak those people who are not engaged in trading but know about it in theory. I have already started and finished trading many times, and I think that for a start you need to trade for a small amount for a long time to develop strong discipline.

Weldone dude, that was a good piece. I love the point patient . I have discovered that the patience goes with proper sensitivity. I mean not being too slow to know when to sell and to buy... "Being accurate in trading" probably that's an additional point. Trader must also not be greedy, it is very dangerous. It has a link with the patience because some will keep waiting expecting rise until they loose.

What OP has mentioned is most accurate. People tend to suffer from a loss due to their own mistakes and then later blame their fate for it.
If we control ourselves and stick to the strategy then we will surely become more accurate on our targets and will soon start earning profits from our improvised strategies. What is more harder is that some people despite knowing what you mentioned in OP tend to make the same mistakes over and over again. Such people end up losing all their earnings by repeating their mistakes.

Trading is not an easy adventure because your TA may tell you something, while you are well very patient, a news may just come up and scatter your whole plan, you will need to adjust again, which care is not taken may make you loss control of your psychology and trade with emotion other than intelligent. 

No everyone will accept OP point about trading mindset, the first time I start trading was a very bad time for me, I was holding usdt and buy Bitcoin at 9200 and Bitcoin dropped to 3600$, that's a huge loss for me

This is an important aspect of trading/investment that must not be left behind.
Traders should never fall in love with any token whatsoever, because it does not let you take profit, when you are supposed too.

Stay independent of your emotions while trading.

Well, thanks for your effort mate for making this thread and share your thoughts about the right mindset while doing trading, Honestly speaking I'm also a small scale day trader I'm doing it in a daily basis sometimes I gain some profit but most of the time it's just break-even or just small and just enough for my fees because I never let my holdings stayed in Bitcoin since I'm afraid that it will be devalued because of the fluctuation thats why I frequently converting it into a USDT for safer value on the next day. In my experience since 2017, most of the time my wrong moves/calculation is giving me so much stress that was triggered by my emotion that results in a loss.   

Yeah, I certainly agree to all, you reallt can't take one over the other as it they play huge role in trader's journey. And let me add one more thing that IMO traders usually overlook. What I mean is that don't be afraid to fail specially in your first try. Sounds lame but I think it is really necessary, since failure would open up you to new ideas, and opportunities by means of finding out your shortcomings as a trader. Never ever let the embarrassment hold you back on pursuing though.

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I kinda think this topic must be moved to Trading Discussion.

I really like the way you presented the informations you do want to tell us and those that you have shared are basically right and are needed for the traders since trading is one of the possible ways you can be able to earn money into this type of industry we are all currently into which is run by cryptocurrencies. Having those five basic concepts you have provided will be a great key for understanding and to be able to educate those people who do want to try trading that can possibly make the successful on doing trading as their way to earn in crypto. Having the right mindset towards trading will be a good start for a great journey on trading to come and to avoid getting regretful and doubtful on your trades.

every trader has a different character and also not everyone can take advantage continuously, especially in trading. trading has a high risk, at least you have basic knowledge about trading. someone who is greedy, not disciplined, cannot be patient, has no expertise at all in this field can easily lose money.

Traders need to understand that everyone's psychology is different, how trader A trades might not suit you, so it's better to discover what your style is and stick to it only making improvements where and when necessary.

This is the importance why you should avoid applications that are offering copy-trading from "experts". Particularly, here in crypto trading. It is better to learn the ins and outs in trading. Also, overtime, you will know at first glance those coins that are worth trading for. Because you will encounter a lot of crap coins or tokens that were launched for the dev's pockets. So you have to be careful in stumbling with pump and dump coins. If you entered at a wrong time in those coins, you will be left bag holders of worthless coins. This forum alone will give you a lot of hints what to look for in a valuable project. Their specific thread here will give you insights how the project is building and you will know if it has empty foundation because the dev has nothing much to say if users are asking them questions relative to their developments.

Trading isn't as easy as people to see it, as a trader you need to get focused and have confidence, know when to sell off and don't be greedy in your trading, many have been hurt and caught in the act including me, one thing we should understand is market isn't our family house and not certain to predict how good it will end up but best is for one to be smart and monitor market, sell when you have to and always learn to buy at dip.

Exactly! All those points the original poster mentioned does not apply for everyone.  He ended up generalizing everyone. Emotions and habits does not act the same way in everyone. You will need to have experience first before you start trading. This way you will get to know what are your problems and how badly it is affecting your trading. You will also make mistakes while trading which will help you learn!
Now if the person does not want try to "fix" his problems and mistakes, then that is a whole different story.

Are you aware that our financial IQ is composed of 90% emotional brain and only 10% of our rational brain. It means that our emotions have great factor especially when it comes to investing. There are 2 main emotions in the market, it is greed and fear. There are people who have this two whete they cannot fully control their emotions that makes them to lose in a trade. We should remember that trading psychology is also important and we should consider it.

But we can make it a general style or method. There is a time that Ive enrolled on a trading coaching not much rate, but he teaches us how to be specific and be like him. He is  really good on trading and lots of experience, I like the thought of being him someday, but I am keeping what I learn from him. I even follow what he suggest so later on, If Ive seen a pattern like that then I know what to do cause thats what he thought us whether we are wrong or right at least we have the same principle of knowing the right move for every chart pattern.

Of course, exclude trading attitude such as confidence and patience.

If you read my post again, you will see that I never mentioned anything about emotion not being involved in trading. Yeah, I know emotion does matter a lot when it comes to investing and trading or taking any financial decisions. What I am trying to say is "these emotions (psychological effect)" different people in different ways.
Original poster talks about discipline, planning, flexibility and so on. One needs to "experience" first before they can bring out those perfect plan, patience, positive mental attitude etc.

@adzino, I think you are right. I would look abstract when one begins to analyze emotions without practicalizing it. Apart from trading, the fact remains that we have put our emotions into test through different encounters in life. Coming into trading now is a different ball game. It is until you do the trading itself before you will know how strong or weak you are emotionally and constant or active trading can help to tame or control it, particularly when it comes to risk management, because trading itself is risk taking.

Planning and discipline are the key factors of consideration for me.

1. Knowing the right exit and entry points, best stop loss point and buy pattern are all other planning. While

2. The patience to remain on course is discipline

Trading is a prediction game, predicting the price movements of cryptocurrencies is quite tricky compared to stocks because no matter how good the fundamentals of a project, the price will always follow the development of bitcoin prices. We all understand that the price of bitcoin is determined purely because traders' assumptions are not due to progress or fundamentals such as stock.

it is an interesting topic. If we can concern to the five fundamentals maybe we can do all the projects fluently and get an amazing result in the end. I really agree if we should be patient. Emotion can influence us in making decision. We should be patience in facing market situation but we must smart in using it too.

The right trading mindset is something you need to start working on. You need to make a good strategy. You need to know the do's and don'ts. You need to settle your emotions as we can see, emotion is the biggest obstacle a trader has no matter how good you are in trading, reading charts, doing Technical analysis. We must have a positive trading mindset that will need to be continually improved and protected throughout our life as a trader.

Nice post, this should be ready by traders it would be a great help for them especially if they really want to be successful in trading. Trading is not a simple thing not like investing, so you really need to read and learn some skills and techniques you may use to be a better trader.

Good thing is that you may read some information gives ny the OP, one of the best advisable for me is to keep on learning, technology evolves which is prior on trading so you should keep learning to ne always update on the technology and trading techniques, which is really good way of making money.

The only thing that must be owned by everyone if we must be patient and never try to be a greedy person. Mostly people who are greedy to expect a huge profit from the market can't be patience for sure and they are using it to trade and then they were getting a big loss. Patience is key in trading whatever kind of platform.

Yes, that's right, in this condition, patience and how to deal with the market situation so that we can have the benefits we expect, because whatever the job is if it starts with an emotion, it will end with regret.

It's easier said than done, how will you learn without losing? If you entered crypto trading world with the mindset of ( I don't want to lose ) you will come out with nothing, every pro traders have some lose stories to share

I'd suggest that luck is also a factor in trading. No matter how good your analysis is, no matter how you plan things, if there will be a factor that would arise in a sudden that would alter hoe you planned things to happen, different outcome may be formed; keep in mind that the market in the first place is unpredictable and consistency do not exist in this industry, which is in contrast with analyzing things because in order for analysis to work, there should be consistencies with the variable you are trying to measure.

Let's put it in a scenario, trading a coin perhaps. You have created a deep analysis to a particular coin, that it has a good token supply, it has the popularity or it simply convinced you that it is a good coin to trade or invest. You have that patience to wait for the right time thrn suddenly there is a huge decline for some reason. This would immediately ruin your plans, I think. And you will again startover.

There are four tenants in trading psychology; greed, fear, hope and regret. It would be long to discuss all of these, but to make it simple, is becoming ready to expect what should and should not be expected, a matter of conditioning your mind, in order to come up with a good trade, not literally controlling the variables. Hope you get my point.

That's exactly one of the points of OP, and I have to admit that i am impressed with the summary.

As a trader, apart from the teachings and the learning, there must be mind determination and persistent to achieve success ; and believe me it goes a long way

even though you can't avoid losing trading. however, with that mindset, you can reduce the risk that could occur. so far, people who trade without a clear mindset, sometimes they only trade without a strategy and just try.

In short, some novice traders always make the same mistakes before trading, they are focused on making a profit and how much they are willing to make a loss, but when they make a profit, they forget about their original goal and think about how to get how more profit is possible, I think this is the main factor why Novice traders always lose, this does not mean that experienced traders will always win, but from the point of view of consistent experienced traders, they are more diligent and have their own goals, therefore, if they lose today, they stop and try it tomorrow or another time, like their plans in the beginning.

people that have that mindset are risk takers and are willing to push more becuase in thier minds they cant loose but of course that is not always the case that happen so they end up loosing big  but having a weak mindset is also bad   . all we only need is a balanced one  .

 not too strong and not too weak ( just like what op are saying  )    .  but you are right that having a clear mindset is also good so that we can think properly  .

Well advise but the key to them all is patience. Once you don't seems to have it, you'll be highly frustrated cos your whole mindset is to strategize and make quick money. Crypto market requires the ability to wait and keep your emotions aside while the market fluctuate until it favors you

I am having just the opposite opinion when compared to yours. In cryptocurrency market, you need to make quick decisions. When a token or an altcoin is going down, in almost all the cases it will never recover. So you need to study reasons behind this drop and dump the coins as soon as possible. If you hold on to shitcoins, then the chance is that you may lose all of your investment.

That's right! I also think it's better to get a loss by selling the coins right away than turn into a holder! ;D
In my opinion, all altocoins are designed to take away your bitcoins! ;)
Successful traders on the stock market are about 5%... I think that there are even fewer of them on the cryptocurrency market!

Well patience is necessary in trading but it depends on the coins we invest in. Im a long term holder but still taking profit at times if I see an opportunity to do it, my instinct says to take advantage the hype and make sure to gain already but left some for my preferred target  price. We need to balance the situation because we're the only one who can determine if its time to sell not base on our emotion but because you understanding whats happening.

YOu can't create a good strategy when you are not even understood about how to know the fundamental value of a coin combined with the technical analysis. Emotion should be the last point to maintain our activity in the market. We must never try to take everything easily dude.

Generally traditional market traders stay away from cryptocurrencies due to the volatility of these assets. The way it rapidly changes its trends and pretends to be cool after a severe dump.

In Benjamin Graham’s book, The Intelligent Investor, that inspired Warren Buffet,  [based on the traditional stock market] he says:

‘Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop’.

What the traders of the crypto community need to do is that they should notice substantial rise and drop happens within seconds.
Trader should have the mind and follow what the mathematics defines an envelope of values; by using the highest high or the lowest low of the last ‘n’ periods.

There are many strategies in trading. To my knowledge, one technique is to analyze price changes based on different time frames. Learn the pattern, which is why this is not something that can be learned instantly and will not be maximized if it only relies on feelings.

You have pointed out the core characteristic; the patient trader will always win, even in losses.
And you can only learn trading strategies better, when you are patient.

The most important factor after patience, is doing your own research to the grassroots; it helps and guides alot.

In fact, these are basic things that traders can easily access but to follow is a long and difficult process, which many people do not pass.

yeah right, that's all it must have at the time we want to plunge into the world of trade. because sometimes if we have felt a loss, our feelings of emotion and hope to get benefits after this. but precisely because we are emotional we don't think clearly so that it will cause us to lose its true worth ... ;D ;D ;D ;D

as I know new traders will not think too far because they only think about how to be able to get a lot of profit from cryptocurrency trading while the experienced traders I am sure they will think more than new traders.

It’s not enough just to be patient and follow this advice. It is important not to go about your emotions if they push you to violate premeditated actions.
So, for example, you can sell ahead of time, although you were not originally going to do this, and make a mistake.
It is important to understand what you are doing at every moment of time, and most importantly, why are you doing this. Patience for the sake of patience is nonsense.

I don't think anyone knows when cryptocurrency has the right time to buy and sell, you can say that because it looks at the chart that has already happened and doesn't know what happens in the next move, because the cryptocurrency price when it falls and you buy it can still collapse again, just patience and applying long-term trading which in my opinion is still a bit safe for trading.

To be honest, you did a great job and i must say staying at home do really helps you as you've gather enough experience needed of a trader. Virtually every point you listed out are important and just as you mentioned in the conclusive part of the thread, proper management of greed and emotions play the key role in excelling in crypto trading

You have stated the proper and most essentials details for every traders and prospective traders to follow in this space, while trading or before trading.

In addition to this effect, i will also like to add that we need to understand how fundamental anaylsis FA, and technical analysis TA works.
FA, is an important analysis for long term investments, while TA is for short term gains.

Never mix them up, and ensure you use the best of exchanges to read your charts.

It's easier said than done, every pro traders have their bad days you know, OP makes it sound like doing all his point will make you are winner well in trading there will always be winning days and losing days, the greatest enemy of trading is our emotional part

As long as we don't be upset for a long time because of the losing money in trading, we can try to recover the loss while we still have much time to get the money back. We need to remember that if we trade, we cannot always make a profit because the market will always change every day. So we also need to learn more about trading so we can analyze the market and back to make a profit.

If you are serious and dedicated investor then you need no right time to buy because you will Buy that cryptocurrency you want as you believe in the potential and the future of the said currency and not because you want to make easy money,like Bitcoin that those who purchase from the Beginning is now sitting in tons of money while the late adopters are always looking in

"When the market will be in  Bullrun again"?

and this is always Sucks to read because this is not a one day millionaires market(But yeah there are several manipulation that others become millionaire in a splint of time) but this is not happening everyday.

Let us learn how to wait for profit and not to just ask for it faster because this is greed and the way why many falls to zero.

It's much easier to be said than done, that is what confuses many new traders. They read stories about success, but they only see success, not the entire road to that, and that road is bumpy! Constant learning is what you need for all traders, you learn when you make a profit, you should learn even more about when you lose, to check what happened, to try to avoid making the same mistakes again.

Yes, all traders have experienced hard times and happy times, and of course to win in a trade is clearly not easy as imagined by everyone, this can also be seen from most predictions that have missed and not as expected.

A new trader needs more experience to realize about that, so if they get lost in trading, they can take it easy and start trading again to recover the lost. If they only read stories about success without reading the whole story, I think they will not understand how hard one pro trader trying to get up after he loses the money. Learning from the mistakes will be an important lesson for all traders so they can know what the mistake is, and they can know how to avoid another mistake.

It's not only pro traders but everyone have their bad days but when they can handle their bad experience and try to be a better for the future and they will get a lot of experience.That's why we must able to control our emotional and never try to follow it. It will always bring us to the loss. 

Yub! Emotions in this market such as angry, sad, happy, etc are very important. When you're sad, you can think about giving up this market. When you're angry, you may do some stupid thing that blow all of your money. Happy seemed like a good emotion but no, when you're happy you may act without thinking wisely. Emotion-control is just as important as risk management. Keep your head cold when you do anything in this cryptocurrency market!

Emotions are part of life as we can do many things with these and its really good way to have some good and positive atitude for good future if we are sad then we will able to think and if we are happy then surely we are going to earn more but still we need to go with control and patience as its very important for good future and expereince in trading and life.

i think psychology and knowledge about risk managemnt is the most important thing for traders
a lot of traders lost their money because they don't know how to manage the risk in their trading activity
regards

Also many traders have lost their money because of other people's advice! That's why you don't need to listen to anyone to restrain your emotions! ;) Otherwise someone else's opinion can change your perception and you will make a mistake despite your personal strategy...

Never invest if you don't know how to do your research. And investing on the advice of others is an act of suicide, surely his money will quickly disappear

Trading is a prediction game, predicting the price volatility of cryptocurrencies is quite difficult compared to stocks because no matter how good the fundamentals of the project are, prices will always follow the evolution of prices. Bitcoin, this should be ready by the traders, it will be of great help to them especially if they really want to succeed in trading. Trading is not a simple thing unlike investing, so you really need to read and learn some skills and techniques you can use to become a better trader.

I guess when the suggestion could be suggested you to invest in the promising coin and i thought that that will not make you loss your money or make it disappears.
What we need to dig it even deeper to know whether that's a good suggestion or not.

controlling emotions is the main key to be able to get success in the world of trading, when you are easily influenced and selling your assets at cheap prices it will only make you lose, so be careful when trading cryptocurrency do not let you take the wrong step.

No matter how good we do the analysis of various aspects, including fundamentally and technically, it could be missed from the movement that occurred. That is a risk factor. Cryptocurrency is filled with surprises and unpredictability. Technical matters like this must be balanced with psychological and mental health. When psychological factors have been influenced by the opinions of others, for example, FOMO, hype, etc. will certainly affect the analysis. Confidence in trading is also very important. Mental readiness to deal with losses must also be prepared.

Individual trader has to control their emotion the way I will deal with my emotion will be quite different with the way another trader will deal with it, this is obviously bow down to the fact that a trader has to be emotionally balanced before embarking on any trading journey coupled with the mindset highlighted by the OP a trader without those qualities such a trader might ended up losing and rekting of  funds. 

Big question trader has to set his mind to take profit from trades. In today's world everbody want real quick money that is reason for loosing their money. Traders mindset to just relax and hold some times after you invested money in any type of market. Patient is the best freing for everyone in this world. The person who has the patient will always going to success in life.

I WIll like to explantiate and broaden your claims.

Psychology deals with the traders mindset and overview of the market space, while knowledge is what we have learnt as a trader, put to practice, and dedicated time to relearn it.

The perfection of the learning process leads a trader to having a trade principle

   All that comes with practice, experience is what you build from early days and on all mistakes you
make in your path. Knowledge comes from reading and researching, experience comes from trying to
put theory in reality, with all good and bad sides.
   Mindset is something you work on, something you can shape, if you are focused and dedicated it
will be simple for you to develop yourself in trading.

I have to disagree with the first mindset of Discipline: Coming into trading with a mindset not to gamble.
To be honest, cryptocurrencies are pretty much gamble and no way you can change it with """ analysis""", chart, graph and other to justify your choice or investment.

Nice observation about how traders behave. You hit the right understanding on how traders act when trading. In the current situation and unpredictability nature of the crypto market, indeed discipline and patience are ingredients to make one a suv=ccessful trader. I would add that experience would eventually make you before confident when trading.

Among all your points mentioned, self-discipline is very much needed for any trader. This decides how strong your will is to win or lose a trade. Keeping stop profit levels is as important as keeping stop loss levels in any kind of trading.

well it is true that with very high confidence can provide peace for trading and of course confidence is still not enough, of course you must be able to control the patience that might have an effect to sell at low prices and you should be able to avoid it.

You seem to have mixed it up, being disciplined in trading is prominent and you need to understand that trading is not gambling.

Discipline can be a way you guard yourself to maintain a consistent rewarding trade pattern that brings profit.

E.g if you decide to always take 2-5% daily, then you need discipline not to force ur trade over 5%.

In short, ability to stay true to your own ideology and principles is discipline

Well, I know that crypto trading is a different field. For me it is not already a form of gambling because you are the one who maneuvers your money already and not mainly depending on the luck that you have. Maybe what only saint_casanova meant is that since investing in crypto is like risking your money in a sea of volatility then so as trading :D.

Anyway, I like your example. It shows a great discipline and guard against greed. I'll take note of it.

Yes, you know the point of that. As long as we can learn more about trading, and we can improve our skills from the lesson, we will have a chance to make a profit, and that is not gambling. I agree that we should not chase a bigger profit if the market is not moving good because that will make us feel difficult. It is better to make a profit in a small amount, but we can get it over and over to make a bigger profit at an unknown time.

It isn't prediction if you have the experience and can see some pattern or particulate trend on certain kinds of crypto. For example, we can notice a typical pump and dump if data about orders, volumes,... available.

Lot of good points there. Everything in there is really important in trading, most especially the self discipline and patience. Lot of traders ot even not in trading lack in self discipline especially if we are talking about money. It is really easy to be eaten by greed knowing that it's a human nature. This is where this discipline takes place. We need to control our emotions in wanting to gain more by trading more money which we can also lose in the end. Also, patience is a must like the OP said to have better understanding about the market to avoid doing rush decisions.

These guidelines can greatly help guide us in our daily trading. All of the above are correct and it is best that we apply them to our own trading, but always keep in mind that cryptocurrency is volatile so it is more important to learn about risk management.

it only applies to certain assets. because of the market character of every coin we cannot equate. trade charts will tell us but all of that has to be analyzed. we must develop our abilities first before we can carry out such an analysis.

This is another important aspects in crypto currency trading.
As a trader you need to accept the volatility of the crypto currency space.

Let it be your guide as you dyor and study trade charts to becoming a good trader

will doing the things mentioned above make you a reliable trader and will not lose?
I don't think so, it does not guarantee that you will always profit in your transactions, because things like this cannot be predicted 100% correctly.

Thanks for your effort mate for making this thread and share your thoughts about the right mindset while doing trading. Most lay traders trade and lose a lot of money caused by panic and cannot control their emotions. but every trader I think has a different strategy including you. Trader must  not be greedy, it is very dangerous. It has a link with the patience because some will keep waiting expecting rise until they loose. we should be patient, Emotion can influence us in making decision. We should be patience in facing market situation but we must smart in using it too.

Trading is a combination of profits and losses in short time period so we have to decide first whether we have to trade or not.You can make money from trading with huge risk or can earn the same amount of profits by holding which takes more time than a successful trader do.

In simple words we have to understand the emotions of traders and should act opposite to that to bring more profits to ourselves.

Traders that are confident on their skills and have experience is prone on getting a high chance on profiting every trade. And also not being attached to your money is a very good tip, Because being attached to that money your mind tends to be clouded which tends to affect your decisions when trading. So trading confidently with that winning instinct is essential for a "pro" trader.

mentally, emotionally, maintaining patience is one of the main keys of a trader, Fundamental and analysis techniques are the plot, remember that many people fail to become traders because they cannot hold their emotions and go with the flow

Yes you are right, maintaining patience is key; Which is why from the mindset, we have to take discipline very important; you cannot neglect it, work on it and perfect it.
Most times it is not difficult to handle emotions; but it is difficult not to be greedy and want excess more profits; which causes decline after an initial pump.

I completely agree with you, emotional stability and patience are extremely important. When there is a series of unsuccessful transactions, you can lose all your money on emotions, I also when I started trading more than once succumbed to emotions and lost a lot of money. When you experience negative emotions or are not sure of yourself it is better to do something else and distract yourself.
But unfortunately there are some people who can not cope with this, such people should not engage in trading otherwise they will only lose money.

and some of them include your financial management, before trading make sure you can manage your finances correctly and coins that have high trading volumes. besides you are not greedy and can control your emotions when trading. and don't use shady exchanges, this is risky.

that could be the main reason too. It's so hard to control our emotion when we were getting a big loss. I have seen some people have made their own thread about their loss.
It's not an easy task that can be done by the new users.

Yes, it's not easy even for experienced traders. It's not only about trading or doing businesses, controlling our emotions is a hard thing to do in our lives as well. That's the hardest thing when you have to control your angry, greedy, sad, etc to avoid the effects of those to your ability of making decisions.

The effort will pay you anything dude, at least when you collect as much as a knowledge then you'll know how much risk that you will be facd and also how much profit that will you get. When have learnt how to trade and all the basic thing against trading we will be easy and know how to get profit in it. Morever with the current sitaution you can get profit when sell the bitcoin at the decreasing situation. So, there will be much opportunities for every trader and they will get much profit if they still learn and understanding how the market move.

I think the most integral part of being a trading Decision Making, You need to be very much decisive in making any moves in order for you to get in to right position of being a good trader, but having those attributes is a huge foundation as well and well male you a well rounded trader cause at the end of the day is your assets that are at risk.

Profit making should be the key for every trader no matter what kind of trading we are involved, so always look for profits which will be hard at the bad market condition that is why we need to learn about selling and buying at the right situation.Technical analysis will give some edge on predicting the price but never believe on technical analysis for 100%.And also we need to have backup plan if our trading is not profitable for a while.

If you have a good mindsets and you have the right attitude success in doing anything is always possible, traders who are gaining success practice this well, more on no emotions while trading inside the exchange.

Even experienced traders also preventing being influenced by any emotions that might happen while trading. It's too difficult to work with your own self determination and self will play a lot to build your confidence.

So if you trade by emotions you will very likely loose money on the longterm. Therefore you should try to stick to your strategy and use as much technical tools for chart analysis to avoid trades lead by emotions

In addition to the above summary here; if you can do your own research, and ensure you learn the basics and understand trading perfectly; believe me the sky is your limit when it comes to crypto currency trading. And even other aspects of life.

Traders who are extremely emotional do not apply TA at all before buying a coin. If for example you analyze properly, you should know where to set your stop limit (stop loss) and sell order. What I normally do is, after buying a coin, I set sell order and SL using OCO incase the market goes south.

The points you have stated are clearly elaborated on the simplest way that is understandable by the reader and it is great because it will really be a good help specially for those that are wanting to start up doing trading because it will lead or would guide them on learning how to handle doing trading that on a simple manner must not be driven by emotions on doing decisions because you might just regret it right after.

All of the stated points are all agreeable and what I can say is that those points are really that essential or helpful to be followed whenever you are into doing trading since I do also experience same thing and I guess most of us do also have the same. Following those tips of what a right mindset a trader must have would be a key leading for a great success but still the main key would always be on the trader himself if he would or wouldn't follow those stated above.

Using stop loss or no is subjective and every trader has a different set of rules in trading, especially for volatile global markets trading without SL can lead to stop out or margin call. Precaution is mandatory in such cases and using take profit orders will guarantee the profit at the end of the trade.

thanking you for this wonderful piece. i have learned a new thing. a lot of traders usually lose because of lack of patience and inability to do enough research. in addition do not follow pump groups or signals.

A very good advise to those newbie traders out here. I think the most important fundamentals is the planning. Without a goodmplan first we cannot execute a good outcome. Choosing a good plan may lead to profit in the long run and that's for sure. However when circumstances comes, its pretty good enough to be patiently wait or wait until the right time comes for trading to earn profits.

firstly, all traders should know that they can't be gaining always there will be sometimes there will be a loss. But in order to reduce the rate of losing there are somethings that trader must know which:
- Always positive mind when trading
- Patience: being patience when trading can go along way
- keeping learning: As we all know that experience is the best teacher and knowledge is inevitable

It seems very interesting specially on the newbie on trading that was greedy on the market and doesn't have patience for waiting when their holding would be pump they are afraid on losing but they didn't know that losing was part of the process to learn on their mistakes they don't have any discipline all their mindset was taking profit.

To some extents you are right; but you are not necessarily required to stick to a strategy, but you need to improve your strategy and trading techniques from time to time; so that you can get upgraded, and more informed even in the crypto currency space. Also, irrespective of the level of experience, always do your own research,

Always have the room for improvements, not because you are doing a great job with your current styles means that you'll be stuck doing it from time to time, you need to enhance and grow for more successful journey towards your trade,

always find that space inside you and not to lean to only one patterned.

For me, i think you need more than just a positive mind when trading, yes it is good to be patient and to keep learning, But also in trading you do not need to master sophisticated methods to trading, You can simply choose the easiest trading pattern known to you and still pick up your profits steadily.

Indeed it is very important that traders have the correct mindset when trading in crypto. The crypto market is very unpredictable and it is very important that traders are very disciplined and not get easily affected by the abrupt movement of the crypto they trade in the market. they must set target prices when to buy and sell for gains.

I want to set this back for us, to enable us to take note and remain astute. As we approach another bull run in the market with enormous prices you must maintain your trading psychology

Be patient, avoid greed and remember that it is never advisable to buy bitcoin at the top, do your own research and make the most of the bull run

Shouldn't this thread be on trading discussion?

Anyway, I think the most important aspect that a trader must have is planning and discipline. A trader must have some kind of strategy, he must know his entry and exit when trading and to execute this, he should have the discipline to stick to his plan, so he won't get caught in FOMO.

I made the post few months back with little knowledge about the forum, i will move the topic to the trading discussion soon.



You are right, but also planning and discipline is also dependent on every individual and it is one reason why one has to stick to plan, and not lose focus. Not losing focus deals with handling every profits, and loss in a matured manner.

It is indeed a good read but bumping an old topic without having something valuable to add is not worth it, in my opinion. I mean you can bookmark it for yourself if you feel the content is important and you want to have a look at it more often. Never mind though because the OP is actually a good read for someone who is new to trading.

If you are talking about BTC bull run, then I would say even investing/buying now is not a bad idea because the price is going to bloom even further and as we approach the next year we can see some crazy records reached in terms of price. If you are talking about altcoin market's bull-run then I don't see any bull run in fact most of the coins have gone down (in ratio with BTC) like Tron has lost it's ratio with Bitcoins although has done well to stay relevant with USD market.

You have stated rightly; the bull run has progressed significantly and bitcoin event attained new all time high more thann 4 times as bitcoin trades at 28,000$ yesterday. And also etherum and even litecoin has joined in the price progression. This is why we have to do our understand and understand the core concepts of trading psychology.

It is wrong if you try to avoid trades lead by emotions; as a trader; you should be neutral in your mind and very realistic with yourself not optimistic; the moment you second guess while trading; then it is no longer on probability but gambling. Emotions can be in form of greed, fear or panic; you need to overcome totally so that your trades can bring profits and you can be unbothered with hypes or fomo around you. Once again; do you have the right mindset to trade ?

For a trader, the most important thing is correct positive thinking, namely positive, because many people withdraw into themselves if they leave the market in the red and abandon the trade for many years, the market is not without defeats. Therefore, you must always think positively, even with a minus, each unsuccessful deal will teach you not to make such mistakes in the future.

Yesterday I read post describing if a coin has more circulating supply don't buy that, I've little concerns over it.

It is not what's the price is, what matters is for how much time you hold the coin.

Let's say:

If you have purchased bitcoin at

7000$ and now it is 47000$ means 7x

The same you could earn with doge if you have accumulated earlier although doge is a meme coin having no fundamentals so leave doge for now

Let say you have bought ada at .10$ (when btc was 7000$ ada used to be even lower .10$)  now recently it touched .99$ so almost 10x. So you got 10 times profit of your initial investment. So circulating supply doesn't has so much impact.

Yes there could be a minor difference as BTC is king and will always be as it came earlier than others so has more hype but if put btc aside and compare other coins with limited supply you can get 10x with any good coin having more circulating supply.

Yeah, I agree with all of these points, and what I prioritize is the first point, which is discipline. With this discipline we can run the four points under it.

Because it is the main key to mastering various things well. Practicing discipline is not easy, it needs persistence, patience and a strong intention to live it. Sometimes we also often neglect a job and even waste time with activities that are not useful or just for pleasure. This is where our discipline is tested and laziness will emerge.

If we can control our emotions and desires or desires that make us lazy, slowly an attitude of discipline will arise, and we become accustomed to being on time in doing a job. This discipline needs to be trained and used.

Of course, the right mindset is essential for any trader. Discipline is cool. But discipline alone cannot accomplish much here. Holding on to a scam shitcoin and being as disciplined as possible will not succeed. The first thing to start with is choosing the right asset. If you are too lazy to understand crypto projects, then the easiest way is to stop at Bitcoin. But don't panic about drawdowns. With the help of drawdowns, those people who are called weak hands are shaken out of assets. This is where the discipline is needed so as not to sell for less than you bought.

Yes, choosing a promising investment asset is not an easy task. 

In my opinion, the scale of the idea underlying the project is very important.  A large development team is also important.  At the same time, the connection with the real world for the project should be minimal, it is much more important for the project to be large-scale within the framework of virtual reality. 

For example, Ethereum cryptocurrency was positioned as a global decentralized computer, and EOS cryptocurrency was positioned as the first operating system on the blockchain. 

It is important that both projects were headed by controversial, but interesting and bright personalities (Vitalik Buterin and Den Larimer).

A professional trader will never hold a drawdown of an asset! He always uses the stop-loss rule... Moreover, he won't think about "weak hands", he either sells or buys... ;)
What you're talking about can be classified as investing, not trading...

Well elaborated,Its genuine that teach dealer will continuously win on this advertise and I’m beyond any doubt they are sure on their aptitudes. Typically a extraordinary knowledge and exhortation mate, in spite of the fact that a right mentality ought to be learn by everyone not fair a dealer by everybody who are contributing their difficult win cash. Persistence is fine but if you don’t have great teach at that point you may still lose cash.

You cant say such thing yet there are trader who do uses these stop loss specially to those who are really making out some active trades unless if you are
a long term holder then you would definitely not mind if you do lost since you can held off your position no matter how long the recovery of price it is.
Its just up to someone on how they do gonna deal with it because not all will really be having the same will or things in mind in regards into their
possible next action.What matter most is on how you do end up on getting profitable.

I highlighted the following because it has all come into play in the bull run since december 2020; The persistent holders and traders are one who have picked up maximum profits; the patient ones are the ones who day trade in the bull run taking maximum low profits; while the flexible ones are those who are able to trade both in the bull market and bear market excellently.

In trading, if you are not disciplined; you may find it hard to take profits or plan for a rug. Do your research always.

This is my second post in over a year after i participated in a Manual Recovery process for my Bitcointalk account. I arrived at such a crucial point where the crypto currency is at a base, a bearish base and a bearish mode.

With Bitcoin nearing 15k, and all alts struggling tremendously. This is the crucial time to take trading psychology seriously and apply its technicality and process in this bear market. Believe me when i say you will win !!!

A trader really needs a certain mindset, or rather just a mindset. Moreover, I noticed that most often it comes during work.

There are psychological trading courses all around the internet. Discipline, patience, focus etc, like trading psychology and discipline rules are there, but these are all basic for all traders need and more than that, all need one strategy too. We choose our strategy   based on our weakness. It is the practice that you need to achieve your goals.

These guidelines can greatly assist us in our day-to-day trading. All of the above are correct, and we should apply them to our own trading, but keep in mind that cryptocurrency is volatile, so learning about risk management is more important. If we are patient and never strive to be a greedy person, the only thing that must be owned by everyone. Most people who are irrationally expecting to make a large profit from the market can't remain patient, so they use it to trade and end up making a significant loss. Whatever the trading platform, patience is essential.

Discipline is indeed one of the important things to have in trading and sometimes some still underestimate it,
basically risk-free trading is impossible because we know for ourselves that crypto market movements are very volatile,
clearly needs a lot to be prepared for the traders

I love this topic in particular, it is well detailed and so explanatory. Indeed, patience solves a whole lots of problems and it is very important to exercise a lot of patience while reading, there are so much knowledge and ideas to learn while trading because when you rush into trading, the probability of you loosing all your money is high. Trading is so wide that it requires plenty wisdom and learning in order to ascertain positive goals and less negative outcomes. Another factor is our mental health while trading, our brain is not a robot, so it is very important to identify the possible best time to trade and when not to trade especially when we are mentally drained as a result of one personal related issue or the other. Our mind and mental health holds a lot of activities on daily basis.

But before ones get disciplined will make a few mistakes or a lot of them... Trading is risky, and there are no guarantees! Too many things depend on choosing the right pair, the right timing, and sometimes even the place where you trade can be substantial!

I guess that people really learn once they get into the fire! It's why practice is important... it's about reading and planning, when you make a move that's it, you will either make some money or you will lose some!

There's no indeed guarantee whatever market you would be touching since price couldnt really be precisely predicted since it would be affected by lots of factors which would make price movements to be
totally unpredictable thats why as a trader then you should really be preparing up yourself for losses or instances where predictions are really not that giving assurance.
Mindset is to versatile on different conditions where you do able to prepare out yourself and dont expect on something so that you wont really get that frustrated too much.
Whenever you do anticipate or been too positive and on the time that market goes opposite then you would really be freaking or boggle up your mind.

That "precise" part is the most important thing. The day I realized that I can't really know what the rpice would be like, I realized that all I could do was hope for bitcoin to go up, and it usually did. That meant if I could just buy as many as possible and hold it for as long as possible then I would be fine. I can't really trade very well, I try my best but usually it turns out to be wrong, I even used and sold gunbot for a long time which was a trading bot and I rarely managed to make a profit myself whereas many people I sold to ended up becoming rich, so its obvious that I am much better at long term holding, because trading isn't for everyone.

Of course, no one can trade perfectly without mistakes. Mistakes force us how to be disciplined, because people mustn't want to repeat the same mistakes. With a big risk in crypto trading, people must begin to learn more seriously and discipline whenever they did a mistake. But doing a mistake isn't a must, if we can avoid doing it, it is much better. Regarding choosing the right coins, entry/exit timing, and the strategy, can be learned along with the more our trading activities. It is related to experience.

You would really be needing that concentration plus having those knowledge and research on certain things which do correlate to trading.We are dealing here on an unpredictable market
which it would really be just normal that we should really know and be aware on what are the happenings on this market.

Mindset is to be versatile on different conditions and expect losses but dont tolerate it and minimize the percentage as small as possible since
its impossible to avoid losses but you should do your best on minimizing it.

Dont be too confident and always watch up with sudden market trend change because this would really be affecting most of the time on your daily trades.

I also think the same.  In all trading activities, planning should be done to establish information gathering strategy and risk management.  If we failed to plan our trading strategy, no matter how discipline or patient we are if we failed to create the blueprint of our success (planning trading strategies) we will be lost in our trading venture.

In fact, these two things become the most difficult terms to do in crypto trading. Sometimes, we want to be responsible for our trading activities and be more disciplined. But in fact, we are too way far from discipline. We may not even have a good routine and preparation for trading.
Moreover, about patience, many of us are willing to be more patient in facing every market condition, but in fact, we are too afraid of losing and we become impatient.

it is because not much experience in the market is owned by the trader. for those who are already day traders. the best bet is to try to reduce the risk of loss. and if what is done is not in accordance with the efforts and plans. Of course, traders must know and be ready to take risks.

who still think like that, we can call beginners. they do not have peace of mind in making decisions. certainly requires more experience in trading.

I think patience and discipline can be obtained already just before a person enters trading but once he learned how to trade, he can greatly enhance this two positive traits due to how hard trading was. Day trading is pretty risky and I think the only way to reduce the risk is by reducing the money that we will be using.

It is important that whatever we do is based on the plans that we have created because if you don't have any plans, that is the start that you will have a doubt. You will worry if what you did is correct or not. You won't have a peace of mind, which is not great to have because it can affect our performance and also our overall health.

Before trading in bitcoin, know the fundamentals of market and then invest in it, more funds and capitals will surely attract you, but you have to know the market behavior then only you can perform well in it.

Maybe it's good to add to your topic what is called Self-control and Don't get emotional if the result of gambling is not good.

If these two can be implemented in the right way, it is certain that even if it leads to a loss, the number of sets that can be bought or sold in the exchange will be limited. Let us always be in control of every analysis we do on a chart or graph as an individual traders whether it's a centralized or decentralized exchange.

A winning mentality is important in trading, we need to be convinced of our ability to make money and not doubting ourselves. In case we feel uncomfortable trading larger positions than we might not be ready yet and go back to trade sizes that make us comfortable. A little bit of doubt is good to keep us grounded and reflect our actions, but too much doubt will lead to fear over time. And once we are afraid of losing money in a trade emotions will take over and our decisions are not rational anymore. As a trader it's very important to be a realist and make decisions based on logic and research. I found it very helpful to reflect on past trades and see if I would make the same trade 3 month again. If not I need to decide to sell that position or not. As a realist we need  to accept when we are wrong and take a loss to switch more profitable trades.

In fact, every person's mind should be clear during trading. Greed does not cross anyone's mind during trading.True greed makes people completely destitute. Especially those who are greedy in the trading platform will never be able to profit from the trading platform.So I would say always trade with a clear mind or else you may lose your entire money from the trading platform.

All the fundamentals you remarked here are the key to success and i think that if a traders possess these talents he will be easily gaining too much profit. If a person just concentrate on the ways that lead him to success and do not think about the suggestions provided by the people then he can do the best. A strong mind can become the causative agent of profitable results. Sharp thinking and tolerance can be useful tools.

This one what makes people lose the most. They are thinking that simply following the advices from other people with their picks and without any further research could gain you something. Relying on people with the picks are not healthy to do in long run especially when you are going to trade it by yourself, you don't know what to do for most of the time.

Same goes for picking blindly without any analysis at all, most of the time new traders are having hard time with this.

Also having a backup plan is always coming clutch in worst cases. Your investment not going well? You can always cut loss or do some side-trade in the meantime to recover the losses. Stuff like this is always great to learn, otherwise you will always stuck in one cycle of doing nothing where you can regain your losses in another way.

Not that really bad on snipping out some ideas from others for you to add it up into your own analysis which you shouldnt really close up your mindset because nothing beats out if you do have that kind of behavior

since not everything would really be acquired or attained easily without having those kind of little help but its true that nothing beats out if you do only just rely with your own and be independent.
But if you do have chances or opportunities on getting some ideas then it wont be a bad consideration.

Learning up trading does really takes a long time and there would be lots of trials and errors would be made up.

I don't really understand about 'clear mind' you state above. Every trader should have their own mind, it is varied. I doubt if it is possible to make all traders think in the same way. Greedy is something natural, and cannot be avoided. You cannot expect it doesn't cross the trader's mind. Every trader should ever experience greed in trading, but it should be controlled or handled by the traders. Experience traders must know well how to deal with greed, especially when they know it is bad effects.

All of those will have a great contribution for a traders success. It will be majority of the successful traders will be basing on their experience and also having that relaxed mind in reading their trades and before committing.
An attitude of not being greedy too is also going to one fundamental that a trader needs to have.

Crypto trading is not just buying at a low price after that we sell it at a high price, if it were that easy a lot of people got rich from trading crypto.
While the reality is that more people fail to trade crypto than people who succeed in trading crypto. And very few traders make crypto trading their
main job. It's all because our mindset must be right first, how to make our mindset right when trading. Everything requires a long process, so we have
to learn about trading properly, after that we trade with small capital first, slowly we will learn from every loss we experience when trading. From there,
we usually start to form the right mindset on how we can become successful traders. The most important thing is never to give up if we fail, we have to
get up and fix every mistake we make. You are right greed is one of the important things that we must avoid in order to become a successful trader.

Actually, it was easy to understand like that. Buying low and selling high but yes, the hardest part is to determine when you must do that and not everyone knows when is the right time and when to execute those trades. It's true that many fails as a trader and those that don't give up are the ones that capitalizes their experiences and manages to profit from it as they stay. It's not that easy as we say on how to do it because there's more to it as you keep going.

I do not think that is what OP wanted to say.  As far as I understand it, OP wanted us to know Technical analysis and fundamental analysis and apply discipline in using them.  We should know when to use TA and FA in order to take advantage of the market.  It isn't about listening to someone's TA, because why listen when you can do it and verify it yourself.



True,  always has a backup plan, even having a back up of backup plan is also good. ;D  Well, the market is unpredictable so we never know if our backup plan is a better fit for the situation, so having a back up of our back up plan would assure us of more option to profit.  In short have a mutliple option available when planning a strategy.

Self-confidence and a well-established psychology are needed to carry out the planned strategy, so we will buy when the price enters the buy area and will sell it when the price hits the sell area, so that greed and fear of missing the moment do not happen to us, maybe we have the same technique but it will be different in the end, because the psychological level of a person is different

Trading is very broad and complex so a trader needs to have knowledge and skills for capital in trading,
profit is basically an end result of what we have done as traders,
The most important thing is never stop to learn

Our wrong mindset can make us make wrong decisions when trading, which as you say can make us bad traders. Therefore, before starting trading,
we should first fix our mindset towards trading, make sure we have the right mindset. By having the right mindset we will easily find an effective strategy
for trading, then we must learn how to have the right mindset from traders who are experienced and proven successful. Because if our mindset is correct,
even though we have different strategies with successful traders, we will still succeed in generating large profits. That is why the right mindset is needed
by all traders, because without the right mindset it is impossible to become a successful trader.

I concur that a trader's gains inevitably die and turn into losses due to greed. Second, in my opinion, one should completely grasp chart reading before trading, and only do so after seeing at least two confirmations. He will significantly increase the percentage of winning trades by using this method.
Also this post will be useful to newbies Because I am confident that many beginners would fear in situations like these. They become impatient due to the market's volatility, which should be corrected at the very least by discipline.

I agree post something like this will help new people who want to start trading, since many of them probably saw some ads that tell them trading is easy, with trading they can become millionaires in short of time, with trading we can quit our job and the other things that will make us got baited to start trading without any sufficient knowledge.

I once had experience with trading ads on social media platforms and I just believed it. Then I tried it with little funds and immediately lost. Of course I take it as an experience that trading is not easy, I finally learned fundamentals and technical analysis, at least it managed to get a profit and can avoid a lot of losses.

You've listed out quite a good number of points here , Trading is something that emotion and psychology plays important role, hence most traders neglect this.One thing is sure in trading, either you win or loose and too don't expect to be 100 % in the money all the time.
Lastly one very important thing to note about trading is , Literally , it's not about how many times your right or wrong that matters, it's how much you loose when you're wrong and how much you make when you're right.

Curiosity could really lead up with those kind of actions which is really that not something new specially when we do try up something on what we are seeing and that was our first time.
Due to curiosity and some interest to know on what it is, specially if it do talks about earning money, then this is where we do immediately
trying out to deal up with things.

We wont really be that able to avoid those kind of mistakes on which it would be normally on that phase since we dont have knowledge and skills.
Being a trader wont really be that easy because it does really need off those qualities.

Discipline is the deal breaker. If you're consistent and patient, you can become successful over time. Moreover, once you start seeing small, positive results, you build confidence. So, follow a good trading process. And learn from your mistakes.

But the fact is that whether it's consistent or patient is not an easy thing,
indeed to become a successful trader it takes a process and of course there are many things that must be done,
learning from mistakes is one of them and it's important

It is very important for every trader to have skills and right thinking.Otherwise, they will not be able to win in the market. The current market is completely random and without the right mindset and thinking, there is no way to win in this market.Patience and Consistency Even if you invest, you can profit from it.If you have this trait in you, you can become a winning trader with the right mindset.

This is sound advise and direction that will benefit new traders while also assisting seasoned traders in self-evaluation. Additionally, I want to draw attention to one factor, which is greed. The ability to master the act of removing or resisting greed from/during trading will go a long way toward helping as well, but this can only happen if the trader is disciplined enough to resist it and stand by his or her beliefs about trading. This is another factor that contributes to traders losing money. Finally, it is beneficial to have a positive outlook on trading as a whole because it helps to develop the proper mindset.

Its understandable when we are just still new or starting up on which it would really be that normal on having those mistakes.The important thing on here is that you do make yourself able to learn.

You would eventually be aware on how things works and what are the actions needed for you to do so, so that at least you do know on what you are doing.

Mindset is never been preferred on being greedy.Dont make yourself fall into this category because it would be resulting into lots of mistakes.

those who have been successful in trading must have also experienced failures and losses in trading. without sufficient experience, they can only analyze with tools. while those with experience in the market can choose the right asset and time to buy and start trading.
people who spend a lot of time in the market, of course, understand how to make sure steps to make a profit. Patience in controlling emotions is also very important.

failure is a very valuable experience as a lesson to be better when trading again.
indeed, the main key that a trader must have is patience and being able to control emotions. because if a trader who already has expertise and experience in trading but still doesn't control his emotions, he will get a loss. well, even though you already have expertise, it's normal to still get losses, but if you can control your emotions when trading, it will reduce the losses you get.

I think those two can only come second or third but the most important here is knowledge or the capital. Once you have that two then you can practice on how to deal with your emotions to be able to trade properly. This is the reason why many traders neglect it because they think it wasn't really that important and for them having a capital and then some knowledge is already good to go in trading but they will only realize their mistakes once they lose their money due to wrong decisions.

Trading is risky so it's not advised to put 100 percent of our money on here even in investing which is also a less riskier than in trading because we still don't know the flow of the cryptos.

Those who will trade will have profit and loss. There are some traders who lose their head when they lose. I think it is not right to make a sudden decision when losing.  There is a fear of losing all the money if you trade with a sudden decision. If you lose by trading, the trader has to keep a cool head and trade. Then you can learn a lot.

that is why traders are advised to be able to control their emotions, and traders must have skills to analyze the market,
because that is important, otherwise the trader will be crushed and will never win.

If you are making a trading decision when you have pressure in mind, it will be a bad one probably. Trading is a combination of patience, self-discipline, knowledge and timing. The more time you spend in front of charts to learn about the market, the more you will find certain repeated movement of it. People like to gamble their funds instead of using their minds to take logical action.

Yep. That's why we don't panic both in buying coins and selling coins.
If we panic or can't control our emotions, we only risk money in trading. Instead of getting profits, this way only wastes our funds.

People who don't have sufficient knowledge and experience, gamble their money.
This happens mostly for beginners or those people who just know to trade. However, they finally will be aware that it is the wrong way. People who have a big intention in trading, will learn more and fix their mistakes. But people who are not patient, may quit immediately.

Its overall and you would really be needing that along the way where decisions are really that prone to emotional aspects which would really be affected and it would really be just right that you would really be that able to control so that you wont really be bothered with this aspect along the way.
The mindset of being a trader is that you should really be that able to adjust on whenever or whatever conditions you might able to face along the way.
It wont really be an easy journey which you would really be facing lots of errors and mistakes which you would be needing to adapt and finding out ways for you to avoid
on next encounter or something that you would be needing to adjust.

Making errors and mistakes is part of the journey. Keep repeating it is bad behaviour. I saw some professional traders keep a notebook with them to track their mistakes. They also think about a solution and write it down in the comment box so that they can make a better decision next time.

Life goes on we face different circumstances but we had to learn to put our personal life and business life in two different boxes. Emotion in trading provokes us to make very bad decisions.

You asked why traders lose? Well losing is normal as there's no way a trader can accurately predict where the price will go. It's also normal to be attached with our capital because that is our hard earned money and we just don't want it to lose easily but we are trying our best so that we can grow this capital that we put in.

If you are advising traders to careless about their capital then its not different from donating their money in the market but maybe reducing the money that they put in here will help them achieve it. While I don't question the 5 fundamentals that you list but they are helpful and must be followed if we want to become a better trader.

Growing the capital that is put into trading will certainly require good effort in trading. Not just a desire, financial management and doing a good analysis will help grow capital. The risk will still occur, but minimizing the risk is better than nothing. do not trade without trading knowledge, it will not be good for your capital.
do not be careless in trading, because what is at stake is our money or our capital. Sharpen technical analysis, use good strategy, and do financial management so that trading can be profitable.

You should set goals and targets when it comes into your trading capital which you would be thinking that you would make it bigger.Its better to have these target or goals which it could really inspire you on

pursuing and making trading decisions on in depth recognition or you are really that keen since you are making yourself lessening out the risk as little as possible.Mindset on minding about being rich would really

just push you into bad decisions because you are really that desperate on rushing up yourself on making huge profits which is something that it isnt recommended on doing so.
Stick into something which you do seem that it is really working out or do show positive results.

It's okay if the mistakes are happening again but, you should make sure that mistake didn't happen because you didn't apply some new strategies. It's totally normal to experience the same mistakes when you're trying to correct them. The problem may still exist but you have to be open to correcting those mistakes so that you'll correct it gradually and minimize the error.

Including your emotion in your trade won't trade. That's one of the factors that should be removed when you're trading because if you've been attached on it, that will make you invested on your emotion and won't have a good outcome.

Setting goals and targets must of course be done first, because we only rely on the initial strategy that we did. If there is a backup strategy it will just follow, depending on market conditions. I don't even have the mindset of getting rich suddenly by trading in crypto, because I know crypto has a lot of risks. and for that reason I started to be careful in setting targets and doing the analysis correctly, this will help minimize losses. Sticking to something that really works and is positive will certainly be safer, but remember that the market is very volatile, what we think is successful and positive will immediately change when the market is not good, plan B is very important.

On this market, a disciplined trader will always prevail, and I'm sure they are confident in their abilities. Though a proper mindset should be learned by everyone, not just a trader, by everyone who is investing their hard-earned money, this is a terrific insight and piece of advice. Although patience is a virtue, you will still lose money if you lack discipline.

In trading I think we need not only discipline and patience but we need many things,
trading is very complex and that makes trading not that easy,
and regarding that mindset, it becomes an important part and maybe it can be said as the foundation

a trader not only controls emotions but must have trading commitments that must be implemented and obeyed to get even more profits.
in terms of market analysis, of course, every trader who wants to become a trader, of course, they already have the skills to analyze the market. how could a trader be willing to lose money when trading just because he does not have skills in trading or analyzing the market.

and in essence controlling emotions and applying commitment in trading is one of the most important

Trading is a full fledge time consuming work and not a part-time business. Most people think that trading is a part time work and then you can earn a lot of money by doing nothing, which is wrong. In order to place the trades, you need time to study the market and only then you will be able to make 70% winning trades.

Well I agree that it is very important to have the right mindset if you want to be a successful trader.  I also think it can not be for everyone and you must be very intelligent more then most people.
It gives you the processing power to do the computations, evaluate the market and see the patterns etc. On the other hand, there are other factors that are also invaluable for a good trader.
For example, qualities like emotional intelligence may allow you to stay detached and not get absorbed by the panic selling and impulse buying. Furthermore, other traits like patience, faith and persistence are also found in great traders.

Mindset is one of the biggest make-or-break assets the trader has.
If you have a poor mindset, you are set up to lose, but that doesn't mean that you have to be perfect from the start.
You can have a good mindset and still lose money, however, over time you will grow and will be able to climb to a point where you are profitable.

First, you have to believe you can do it, then set your goals, accept every obstacle as a challenge, and view everything as a part of learning and you will get there.

Some tips for tools a trader can use (next to TradingView) :
Coinglass (Crypto Derivative Data aggregator)
Whaleportal (Crypto Trading Dashboard with Derivative Data)

Best of luck everyone!
 

The mindset and knowledge is the principal thing for s trader to have, knowledge helps a lot in trading it helps trade to be successful.  People have wrong mindset about trading that is because they are not informed,  they lack knowledge. Trading is not for everyone because not everyone, some people are just concerned about the  profit they will make in trading,  they don't have time to change their mindset by seeking for knowledge to become successful in trading.  Trading are for traders who ready to learn and to follow the rules  that is required in trading.

That's right, the thing that every trader should have to make himself even better. Sometimes many traders ignore things like this, even though this is very important for them to know and apply. Even professional traders must exercise a high level of discipline in their mindset. There is no instant process, let alone not having an adequate foundation and mindset. If you trade without something like this, it is tantamount to burning our money down the drain.

It begins with the skills, then move on to perfection and lastly building the right mindset. The right mindset sometimes can be as simple as knowing when not to trade, knowing when to close a trade be it at profit or loss and knowing when to admit a strategy need to be reviewed. The right mindset is a conscious attempt to stay in profit and reduce losses. Every trader defines what a right mindset is based on their experience but everything still point towards discipline.

It starts with willingness and eagerness to learn how to trade because without it you cant gain that skills. Followed by learning and knowledge to know how to trade and after that youll achieved that skills if you already know how to trade, able to read charts and have your own strategy. Our strategy are always modified over the time depending on the market trend as it keeps changing we should also change our strategy because if not we ill be losing also trader are always keep learning even they already know it because of that you can improve more your strategy.

Perseverance and dedication is what should i say for someone who do really wants to learn up trading and really be that successful into this type of career.This doesnt really fit out anyone because there

are ones who had been trying out their best but still failed up on this one which does proves out that there are things which arent really meant for us but lets just test out before making out conclusions.
Mindset on here is that you shouldnt really make yourself that in rush in making money because this would really just create that kind of desperation which would in result in lots
of mistakes instead of earning which the thing you should really be avoiding.

Without skills indeed it will make our trade unable to develop,
that's why it is necessary to have skills and that we can get by continuing to learn,
that's how it should be because when we only have one strategy or are limited we can't expect it to work

At least we've tried if it is really not meant for us but there are times that we have to struggle and we thought that it is not for us but later on, when we continue it just strengthens our skills, try at least 3 times if still not working on you then rest, I am sure for few years will then come back strong and willing to start again. You are right rushing things can make mistakes but it doesn't mean that mistakes are bad, it has also had good sides to them as long as we learn from them, as mistakes are part of our experience which is also improving our skills and self.

You should never get frustrated when trending but be patient. If you are disappointed by investing in any coin then you are definitely nothing but a fool. Investing in good coins and holding them for a long period of time can definitely earn good profits later on. Of course you should not invest in any coin without understanding it, but if you trade with a good understanding it is possible to become a good trader. And if trading is done without understanding well, then losses must be faced.

When it comes to investing, you just have to be disciplined. Before investing, you should do your research on previous experience, and once you get involved in cryptocurrency, you should learn to have patience. This is because, by nature, humans are emotional about everything, and when something goes wrong, especially after investing, and is not going our way, we start panicking about what will happen next. Your profitability should be your aim. in every business you should always work on emotion.

Emotional attachments to us cannot be eliminated, but we can control them as long as we know how to keep our emotions steady even when facing extreme situations. The knowledge we have will greatly affect our emotional state, if we don't have much knowledge about the cryptocurrency space then don't be surprised if we easily panic when faced with certain situations. I also agree that experience will give us a positive effect on our psychology. With the experience we got in the past, it will help a lot about what to do in dealing with an unpredictable market like this.

I think no matter what the market is like. You always have to remember one thing. If you ever invest, the first thing you should do is always keep your head cool and think. If you ever get excited, that's it for you.  You will face a lot of big losses. Therefore, you should always invest with a cool head when it comes to investment.

If a person wishes to be victorious then it is necessary that a person should not think about his defeat, he just think and concentrate on the planning he adopted and traders must watch regularly the price and also the rules which is needed for success, if he is attached with the price chart then he will be familiar with the ups and downs so it will be very helpful for the achievement.

Being cool unlike the market situation is always good choice, but to experience the best out of the market needs patience. Even when you're into trading and the market doesn't look good, we need to take the stand to hold. Always keep in mind the worst market could turn, and the same will let you enjoy when the market is on its positive side.

I want to understand exactly what you mean, because with this scenario I'm very confused concerning what you are saying over this

Many say this, but what happens in the field is not as easy as what is said. The large number of people who panic about the market situation proves that they are not calm and do not have enough patience in dealing with an uncertain market. This is actually the problem, there are lots of theories, but in practice it will be very difficult to do. Experience will answer everything in my opinion, when we experience more and more then calm will come by itself. Because sometimes experience is a teacher that makes us even better, in any case, especially in the investment world like this.

Even veterans or to those who had already been old on this market do still really be able to feel up that panic which it isnt really that totally surprising on why people do make out such bad decisions due to impulsive

emotions which is something that cant really be avoid for some time.Mindset and emotion should really play out well on harmonious ways because if not then you would really be boggling up yourself on taking up
decisions basing into your trading decisions and positions.
If you do touch up trade then you should make yourself that prepared for whatever circumstances that you might faced on ahead.

Planning: Planning goes down to your analysis, your position sizing and also your trading psychology. For planning to help, you need to understand your analysis; and also understand that you must not trade more than you can afford to lose, once you go overboard; its gambling.

Indeed this point is really carried, I've been a victim of such,
But still I  am looking for means not to yield to the temptations of going overboard  , I will love some tips please,  to do away with such urge

In this way I have discovered that the mentality of an afternoon should always be very positive and not become attached to shares or currencies, when it comes to investment things can be seen in another way, but to be a trader it is another type of Vision, you should go for the line of least resistance, just as Livermore did, and it doesn't matter if the price goes up or down, what you should do is that you can have a better reaction, if the market goes down, go leveraged towards down and win, and if the market goes up, go all up, with good leverage, that's the style I see in trading and how traders should have.

A successful businessman will never invest with a wrong decision. If a person ever invests somewhere with a wrong decision, then he will never be able to make a profit. I think that if you want to make a profit, you should always think and invest.  Profits are available and if you invest some time, you have to suffer a lot of losses. Therefore, you must always invest properly to stay away from such losses.

Investing in the right way must also have skills in analyzing an asset, be it real commodity assets or digital commodity assets such as cryptocurrencies,
we know that cryptocurrencies are very volatile, even professional entrepreneurs or investors can experience a lot of losses.
for example investors from FTX or investors from Terra, how? what is a better way of analysis? Yes, that is, always monitoring the news that is there.

Every trader must bare in mind that trading is a very risky game,it's as risky as gambling,and any trader who have decided to join the game of trading must be strong hearted,he must know that trading is a two way thing,anything can happen while trading,either loosing or winning.Therefore,when one is on the loosing side,he must know that it's part of the game,and not to overthink or get depressed as a result of the money lost.

Yes, I think so. If someone can trade by accepting profit and loss while trading, then he can become a successful trader. And if he thinks about profit all the time, then he will face many problems.  If time is ever lost then if someone takes a hot head decision it will not bring anything good for him. So while trading you have to keep a cool head and trade.

We thought  at first to win trade is mostly because of having that winning strategy but later on, when you have that strategy your emotions start to kick in like you are having difficulty taking trades or stopping the loss as our emotions controling us. Trading is also about our emotions on how we can successfully control them as it will drive us to do unnecessary things like being greedy which leads to losses. If we have a strategy on how to control our emotions like we have before we trade then for sure it would be 100% successful to execute a trade and we can have a higher percentage of winning.

Emotion is one of the main thing that could affect someones approach when it comes on dealing up with things where it would be one of the main factors which would really hinder you out nor really make yourself

that impulsive when it comes to making decisions.On the time that you had gained up some experience and awareness on which this is where your adaptability would kick in and this is where most people do end up

on the same path and this is where you do mold yourself on being a better trader than on yesterdays.It is really a matter of experience and skills that you had honed up
for some specific period of time.

Yes , but what  if after a heavy fall of the currency then there is a sudden rise of that currency and in this case double the amount you bought it and maybe by then you have removed it with the fear of a further fall , I personally, I won't be happy with myself, I even prefer it should fall to the Lowest and I loose my money than for me to remove it and there is a sudden rise, then after thinking about the money I would have made seriously I won't forgive myself,
Anyone that buys a currency has to be a risk bearer he should know what is involved because the value of a currency Will always rise or fall .

In that context, OP is saying that as long as you are a disciplined trader; and you are confident, you will make it in every aspect of finance and life, be it normal business, or crypto currency trading. A man without patience will always fomo and run at loss, while a man confident in his abilities and is very discipline will continue to thrive,.

Remember, discipline helps you learn when to stop or start!

We can make things right when we are discipline in all aspects of life. When it comes to trading, the discipline also comes along with the eagerness to learn everything and we could use that as an edge to be successful in trading. If you don't have patience, trading will not work well for you because an impatient person can always commit mistakes when it comes to decision-making.

Yes, that's what will always happen, actually we don't need to worry about panic, because that is a trait that humans will have, but what is needed here is how to overcome it. And it is experience that will make us overcome such things, with experience we will know what to do when panic comes to us to make us calmer in dealing with situations that are not in our favor. I think this is not only talking when we experience losses, but when we are also profitable, sometimes we are confused about what we should do, continue trading or stop, don't you think?

with discipline we can know the development of our trading style, because of course we can learn to trade in a healthy manner, in which we adhere to the framework that was previously made, so that finally we can assess whether our analysis is correct or still needs improvement, on the other hand it is not easy to find the right analysis according to our trading style, which means the need for experience to eventually become a successful trader

In short, we would really be still needed to face up lots of trial and error or simply not really a smooth sail ride on learning up things which it would really cost up some funds if we arent that good on handling ourselves but of course with those mistakes and errors on which you would really be needing to adjust and learn for yourself so that in next time encounter of the said scenario then you do already
have the idea on what you should gonna do.

Persevere and sustain because acquiring such skills and knowledge isnt something that could be done in a short time.This is why you do need to survive
if you are really that serious on going into this path.

New traders like the newbie as always seeking the trading as an easy way to earn money which is the wrong mindset they just risking their money into a bad decision making, having a proper guidance and knowledge newbie traders can now make an experience which is the right or wrong path with their decision making in getting position

instead of emotions state the market situations also defines the success rate of an individual. Patience play a very vital role in the success of traders but patience does not mean that your Coins goes to zero and your are waiting that it will go more and more. There are some coins which become completely dead and they never get the higher value in future. So it's important to understand deeply about the proper coin and set a specific goal which will help you to increase your profitability.

Emotion is something that can not be taking away, people will feel emotional when they are not having a better results in trading or when they lose.  But the most important thing is that in as much we all exhibit emotion it is something that we should be able to control, not having control over emotion can affect the mindset and be a problem for the next trade. Being in a state of emotion good trading with positive result can not occur.

Discipline and patience is the biggest thing that we need for all traders indeed, for those who want to start trading without both of them will face losses in their experience of trading. Building Discipline and patience can't be done in one day because of that many people end up giving up their effort all the time.

You're absolutely right in your assertion that discipline and patience are essential traits for a trader to explore the market. Although maintaining these attributes is incredibly challenging, if you are in the appropriate frame of mind, you hold the key to unlocking enormous earnings in every trade. For instance, I've seen trades that take one to two weeks to be executed before reaching their targets. Because trading news is where big figures are generated and snipers usually don't take chances when they spot great possibilities in the market, we have top news, particularly the CPI news that always comes within the weeks. Trading is a compulsory step to take if one wants to abstain to greater heights in acquiring knowledge and online skills.

I agree with you, often times new traders always see trading as a get rich quick scheme; and this is more reason why lots of individuals lose their assets to crypto currency investment. The key word that should be emphasized is that, knowing how to trade crypto currency is not enough; every needs to follow OP teachings with regards to trading mindset and trading psychology.

Lots of lessons in this thread. Patience and Controlled emotions will make you even a better trader than you can imagine

When you are just a complete newbie then for sure you would really be having that kind of thinking that this would really be that easy until the time comes where you can say that it isnt and realize that making money is never been simple.It might really be looking so easy and basic but having that buy low sell high type of idea is never been that simple and this is why its not shocking anymore that people would really be that learning up their lessons and realization on the time that they do experience unforunate events which is really that something very common i should say. Mindset should really be that versatile if we do speak about
opportunity handling because not all would really be ending up on being successful.

One of the things that makes them think it's easy to get rich doing this is that they follow people who keep saying that it's easy to get money here and without telling what the risks are, that's what I see from most people who have that mindset. So be smart in choosing an "influencer" that we will follow. We can't blame them (influencers) because the decision will go back to their listeners, but they are one of the people who are responsible for what happens to most startups.
To avoid that kind of thing, special education is needed about this, and I think it's already there depending on how they look for it.

This is true since with the easy access of this information, there comes the difficulty of checking whether it is legit. So with this trend, we should always have the capacity to criticize and further assess the things we watch specifically related to the crypto so we won't be a victim of those who just want to use us for their own benefit.

I think one thing you didn't mention is to have a target and use SL/TP. If you can make up your mind with what amount you are willing to lose if things go unpredicted, then you can have much more control over your emotions. This has helped me a lot in my situation to have a good control over my emotion. If you have no regret, you can keep a clear head and continue with hesitation. But it is also important to point out that you are not making the same mistakes over and over. That way it could mess you up mentally. So as you mentioned, taking a break from it would help a lot.
And thanks for sharing your knowledge. This will help many. Though I should add something too.

In my view the most difficult for me are point number 1 2 and 3 because it is very difficult to control it, for example when I lose I have to take back immediately what is lost without thinking about a plan first, in the end I lose more :(
maybe I'll fix that part first.

These are not one of the things that we as traders always need, but I think that above all, before having these things, the most important thing is to be aware, and always seek more knowledge, because trading is based on decisions, the better decisions are. take translates into more money, and the more mistakes you have, the more money you will lose, here the trick is to do things right, for that there are books, to analyze everything with strategies and techniques, obviously knowing a lot about technical analysis, but knowing react to market movements and know what to do.

Yes You Tolking About Good Topic And I Agree With Your Ideas Because When Right Mindset Come Than Hopefully Success Soon Thinking.

i tried to fully implement this but till now i couldn't do that, i saw an opportunity then i broke my own rules, that's what happens a lot in my routine, and i'm trying my best now to do that.Some people maybe in my situation or have in my situation right now, hope they also can learn from it.

I also experienced it, even though we already know the rules that we apply ourselves, but often we still break them, I think this is part of the psychological maturation process, it looks easy to do, but not everyone can be self-disciplined, considering that things like this have to be trained repeatedly times, so I personally apply myself not to give up, because at least we already have the theoretical basis, all that remains is to implement it

Even professional traders break their own rules sometimes. Despite the application of all the proper mindset needed to succeed in trading, there will always be circumstances where we could commit mistakes and wrong decisions that we might regret which is still part of the learning process. What is important is we are learning from our mistakes and experiences and we correct the wrong decisions that we have made.

In my point of View the right mindset to have every traders to make traders after proper analysis and never do trading with emotion. Always do trading with logic. Like if you are watching there is a resistance then you must exit your trade or if any breakout happens then you must enter the market. So traders should have mindset to trade with proper analysis and knowledge. Then they will have a good return from successful trading.

Planning
Persistence

Follow according to your plan and be persistent on what you are trying to achieve but of course you should really be needing to be versatile because conditions on this market is really that unpredictable.
The right mindset you should really have is on how to achieve your goals but of course you should really be making yourself that prepared for whatever things that you would encounter on this market
where lots of ups and down and unexpected turns of events which would really be experience.So make yourself that prepared for that!

Discipline takes steps by steps and the right mindset, I think it starts from the time you picked interest in trading and decided to learn the things needed to become a professional trader, if you aren't discipline from that time then you can't change it when you start trading because you'll encounter frustrating times as a trader that'll make you want to give up

Patience and discipline works together so if you aren't discipline then you can't be patience as it takes a lot of concentration to achieve both. To be successful at trading you have to be able to master both quality or you'll fail miserably.

Apart from being disciplined like you said. A trader must also always think long term and have a plan to achieve his goals in the long term. Don't focus too much on quick results or short-term gains. In addition, Trading also involves risks and losses are part of the process. A trader must be ready to accept losses and learn from mistakes that have been made. And a trader should think objectively and not be too swayed by emotions or personal opinions. Trading decisions should be based on objective market analysis and available data.

Selling and buying early will become a cause of your failure so quick decisions should be avoided because some people do not have any idea that what will happened next but they make incorrect decision which will mislead them. Those who planned and worked according to it then it will be easy for them to take a positive step towards a success and one should keep in mind that whenever the price become low then in such situations wait for the best will be better and in such situations quick decisions will be risky. Working according to market situations accept some strategies which will also be in accordance with conditions is the actual thing to be a profitable trader.

Excellent topic, especially for those just starting out in the cryptocurrency trading industry. I enjoy reading this kind of in-depth information since it helps me keep my mind sharp when it comes to trading. similar to methods, advice, and of course many forms of analysis. Discipline is crucial to me since it will manage your behavior and always remind you to avoid making bad decisions. Perhaps you lost sight of the fact that you should never engage in trading while under stress, furious, depressed, or even intoxicated. Because even though you have self-control at the time, you are unable to govern yourself.

An experienced trader who makes mistakes will not be successful, this will only lead to the fact that he will continue to accumulate experience, but there will be little sense from this if he himself violates his own rules. What are these rules for if you don't follow them? In this case, it will be impossible to achieve success, every time such a trader loses money, he will tell himself that he is getting precious experience, but without discipline there will never be a result.

Yeah, without discipline, the chance that it will just repeat the same mistake over and over, learning from your mistakes and taking
the right action plan will improve your trades.

It's a matter of how well you can deal with your mistake and how willing you are in terms of adjustments to continue doing the right thing.

More on your enhancement and how you will perform all those strategies and plans to make sure that you will be
profitable with your trading involvement.

I agree since disciplined trader would always think that losses are unavoidable even if you used your best strategies brought by your years of experience. Discipline would make you be patient and consistent with the decisions that you make so that you would really take time in every decision that you will be making. Apart from these, we should always be able to handle our emotions very well in trading. I can see this as a way of also being disciplined since when you try to control your emotions, you can be disciplined enough in doing your trading in the long term. All in all, I think it is essential for a trader to be disciplined so success could be gained in majority of trading.

One thing we are not taking note of is that; in crypto currency there is no perfection, there will always be buyers and sellers, profits and losses and who says an experienced trader cant commit mistakes? The rekt stories we read every day online and also in this forum are from trading professionals. The only thing that stand out as an experienced trader is that irrespective of the volume of loss; they can always bounce back (because they are already grounded in the basics).

Trading generally requires one to learn a lot of things and as time goes on you will learn. these are very vital points to learn which will help a lot. aside from having a working strategy, you also need to have a right mindset which you have listed here. this is exactly things that will help you to be in good shape even if you experience some loses on the journey. 

Common newbie mistakes or to those people who are really that delusional towards their trading target or goals. If you are that someone who do have that kind of target in mind or becoming that rich kind of mindset then you would really be blindly be following those person who do give out their analysis which it do seems to be legit and precise but sooner or later you would be able to find out that
winning or profiting chance would really be always in question because it would really be entirely depending on how the market moves or behaves. If you do find yourself that too optimistic towards those analysis then on the time that the market volatility do fucked up those things then this is where realization do kicks in and this is really that a normal scenario.


This is why experience is really that important and something that you must do for yourself on which trying out to learn for yourself and never ever
make yourself that too reliant into other people because we are all speculators on here and no man or trader on this world would really be having that kind of
ability on always being that profitable and this is something that you must avoid on having that kind of mindset.

Yes, I believe that aside from having good strategy, skill analysis, funding, and plan, I think what makes a good trader is through experience. As what we are always saying that "experience is the best teacher", experience will equip us with all the things that we need to survive in the market.
In trading, it's either you win or lose, but the only one thing for sure is that you will gain experiences along your journey which will help you in the long run.
Remember that trading is a continuous learning, and even the most experienced traders out there still experience loss which only tells us that it does not matter how long you have been trading, but what matters is how much experiences have you earned during your years in trading.

Losses are going to come as any individual start trading therefore we shouldn't be running away from them but to accept them and learn from them because losses are the perfect teachers as they'll make you not to make similar mistakes again in the future and that's why it's necessary we analyze the market ourselves when we're trading and not depending on signals channels as we don't learn anything when we use them and loses the trade.

An individual that doesn't have the right trading mindset won't become successful at trading because trading needs disciples, patience, determination, commitment and other mindset too, you have to have a winning mindset because that's what you'll need to motivate you to keep learning during any difficulty times.

Trading psychology is more about understanding people's emotions and yourself. I can agree with this statement because, in crypto currency trading, people's emotions play a major role. And it affects the trading sequence as well, so controlling your emotions and knowing people's emotions means knowing the market and making a profit. It's the best trading strategy as well.

When it comes to trading taking risk and bold decisions should be an attribute of the trader, because if you are waiting for someone to come take decisions for you then you are not ready to trade, and if you can't take risk then you are not ready to trade, taking risk can hid profits or loss, but it doesn't mean you shouldn't make that risky decision, take risk but know when taking risk take risk according to your risk level, don't go trade all your savings in the name of taking risk, what of it's a loss how will you continue from there, risk management should also be put in place.

In my opinion, the problem often is that a person doesn't consider some cases as a mistake. He could see it as a misfortune or bad luck or adverse circumstances. To make conclusions one has to understand why exactly the mistake had happened. And take responsibility for it, not to blame universe or the market.

This doesn't apply to those who rely on signals or copy trading. You see, I think most of the new traders or beginners in trading tend to avail themselves of trading signals or do copy trading as there are many advertisements about trading signals, copy trading, or AI trading, which yes, can be profitable, but the thing is, the traders will be more focused on relying on these services and forgetting the true essence of trading.

Yes, trading is very risky and dangerous. I understand why they avail of those services, but even if they do, they still should work on their skill, knowledge, and experience in trading so that they could trade on their own and that their trading is not limited to what the signal or copy trading is deciding. A trader should learn how to deal with the market; that's when you can say you are a true trader.

If you want to trade, you have to control your emotions. If you trade emotionally, you will get nothing but loss. Discipline is required in every work.  No work can be done properly without discipline. And trading can never be considered gambling, trading is not gambling. The more realistic you are in trading, the more likely you are to make a profit.  Trading theory is difficult. Many people face lot of losses in the beginning. Do not lose patience in this.

Indeed, a very important thing in trading is about making the right decision, if we cannot make a decision and wait for someone else to make a decision on the trading we do, of course this indicates that we are not ready to trade and it would be better not to trade because not yet able to make a decision in the trading he is doing.
It would be better to seek a good understanding in trading before deciding to trade and also have a good understanding of the risks in trading in order to avoid the risk of losses that we will experience in trading.

You must know all of this, without seeking an understanding of trading there will be no profits to be had.
Knowing what trading risks are and tips for avoiding them must of course be studied well. As well as carrying out trade management in order to obtain good results when trading is carried out. A trader's correct mindset will certainly lead to things that provide profits and minimize losses that could occur.

We lose money from trading due to most of our wrong decisions while trading. We must control our emotions before trading so that we do not risk our money by making any wrong decisions while trading. The market condition will be good for some time while trading.  Again, it can be very bad at times, so don't be afraid. If you are afraid of the bad condition of the market, there will be more chances of losing money instead of making money from trading.

I think only one who understands when the crypto currency market is good and when the market condition is bad can profit from trading. If a person can't control his emotions while trading then he can never profit from trading.but every time he can lose from trading. While trading, we have to control emotions so that we can profit from the train.

Yeah, like most of those that you've said are on the OP and he mentioned it all.

This is what most of the new traders that came in need to realize that not all is going to be successful on their first tries. Or they should take it that everyone is going to have a bad start.

And another thing about it is when you think you're not for trading, it's fine to lose your patience and stop.

We have to keep check on market condition regularly but when market goes down then it does not means that we have to take sudden decision of selling because these unfavorable conditions are just for few days but if we make decision emotionally then it will be our big fault.

Learning about trading play an important part in one's success and if one think that he will win without learning then he is gambling not trading and in my opinion considering trading as gambling will always lead to a failure. Without learning about trading if you make an entry then you will get rid of all your money and will drop it to zero.