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Trading is:
80% Psychology
10% Risk Control
10% Execution
It can be rumble percentages from different factors and it varies from each trader. Your might have a good trading system,yet not be a profitable trader,to be a successful trader goes beyond drawing lines on your screen or a few indicators.
I agree, it has to appear with your results that you actually have a good strategy. Because if it doesn't manifest as good results into profits then those are just strategies that need to talk about but if the results are visible and you're a profitable trader, that is the actual goal of most traders. Work on yourself consistently and intentionally first and the rest comes easy!
Everyone is trading for one intention and that's to make profit, that's all. No one gets into trading just because he likes it but that's the sole purpose. in the beginning it's hard, it makes you cry when you lose, you almost give up when you lose every day but all that is just at the beginning because once you get the right strategy, it's addictive to trade that's how in trading you need to go through all that first in order to achieve the success you hope for you have a lot of time to spend and time to thoroughly study the crypto patient is all that is needed here in the end you are also the one who will benefit from the hardships suffered you |
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It's like you said that you invested without profit That trader has an ugly mindset, so we invest so that our invested money can grow
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For all my 5 months in trading, I'm learning only technical analysis but now everyone is talking about the concept of "Smart Money". So I think that trading is changing and speculators should stop trading based on technical analysis. Or smart money just a concept that cannot possibly work in the market,
Yes, of course you must know how to do technical analysis, this is important when you enter trading, you can't just enter basic knowledge is important if you know how to do T.A, it's good for you Discipline in trading is the most important thing |
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Aside from technical analysis and fundamentals
even if you know it, don't get bored of studying as a beginner in trading, start with a low capital before that you must have basic knowledge
All succesful trader start as a beginners
Trust the process and stay discipline
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Marami rin nag sasabi na tatlong buwan lang daw mababan ang binance dito sa pilipinas at yung iba naman lilipat nakapaghanda na para lumipat ng forex yan ang pag kakaalam lo
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Trading is hard But not complicated
DIFFICULT DOESN'T MEAN IMPOSSIBLE
IT SIMPLY MEANS YOU HAVE TO WORK HARD
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first of all, learn crypto first, get to know it first so you know what you are getting into secondly, learn basic knowledge like candles stick / boss / choch it will help you especially if you just start with crypto basic knowledge it is very valuable you have to do it step by step you can't if you learn something small you can do it right away create your demo account just for practice third, you should know how much you invest or how much you are willing to lose you also need discipline here to be successful
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I do not use stop loss again since 3 years ago when I saw its disadvantages. You will know what that I am talking about.
I trade with low leverage.
I average. People that average will likely not be using stop loss.
Those traders that uses stop loss are those that uses high leverage, or trading a very volatile altcoins and not averaging.
yes, we need that even if your analysis is 100% perfect, remember that crypto is very volatile, many things can happen so if you want to take care of your capital, set a stop loss for your safety, even if you can sleep on it, and of course, put a take profit, that would help |
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There are people who have learnt how to trade, practiced on demo accounts for long but have not had the money to try trading on the market, and so they have abandoned trading to try search for money first. While there are others who have too little income, that they cannot profit from the market trading, they are always worried about loosing and because of that they make mistakes with their technical analysis and end up loosing the little money they have. Should trading be exclusive to financially comfortable and rich because of how risky it is?
not everyone here is rich, others started with knowledge of trading, it's just a poor person like me, my capital was only 1k when I started trading, of course before I started, I studied well first, I used a demo account for practice until I got my own strategy and that's when my 1k grew |
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that's true, not everyone because most of those who enter the trade immediately have a little idea that's the feeling that they already know their strategy the others who were taught in cryto are wrong, their strategy is wrong others, when they lose, they want to take it back immediately; others, when they win in trade, they want to trade immediately again, and they lose their ability to trade. If I'm one of you, focus on a strategy, not when you learn something new and do it immediately in the trade
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With the little knowledge I have, I have seen a lot of people scalping and making it than those that does a full trading(hours, days) but they tend to lose so easily can we say it greediness or it's not advisable generally
scalping is one of the risky but the profit is fast and they only trade in minutes |
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yes, before when I was still studying crypto and I still knew little about it, I would pay for a signal just to double my capital and what I paid for was a coach who would teach me strategy in crypto
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before you get into trading you need to have an idea of what you are getting into you need to be a risk taker, you are ready to lose, of course you also need knowledge in trading above all discipline most important
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What is liquidity? Any idea some tips ?
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how do you use a stoploss
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being weak in trading is only at the beginning, as you spend time in the trading industry, you first know all the ins and outs of it and that's when being wise comes in
many of the traders have a high risk but a small risk reward ratio, why are most afraid of losing so they don't extend tp anymore the weak made wise
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if I have 1k of course I will grow it, I will make my trading plan like before when I doubled the 1k in one trade tomorrow again now my capital is 2k when I double again tomorrow again until it grows of course I still need risk management
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You just go with the flow of the market, that's the best choice for those who are starting to enter trading
the pros who are here cocounter trend because they already know the market's next move
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