3 Habits to being a successful trader

[Pokapoka124]

3 Habits to being a successful trader
I talked about mistakes traders make when trading in my previous post. And I thought why not talk about it from a different angle, and weeks later here we are.
Basic rituals you need to a accustomed to as a trader;
1. Manage your risk: Always ensure you use stop loss and take profits orders. Ensure that you limit your risk to an amount you're comfortable with (maybe 5-10%).

2. Control your mindset: While some would argue that it is impossible not to be emotional since we are human. It is imperative that you control your emotions and psychological mindset when trading. Don't let your decisions be influenced by greed or fear. Don't let yourself get emotionally attached to a bad trade.

3. Study the market: Analyse the market with your strategy. Use hard data to guide your strategy plan like technical analysis or fundamental analysis.

P.S: the hardest part of trading is actually going through with your plan. The market can be cruel

Trade safe and stay green!!

source

[ryzaadit]

Now the question did you succeed?

Yes, sharing some tips was good. But better to sharing how some TA analysis on your prediction, make a thread about thats, make update everyday on the thread and let's see did working or not. I believe all of these tips have been sharing with a thousand people, so these tips just like buzzword by most people when they give some tips to other people about trade.

[Quidat]

Now the question did you succeed?

Yes, sharing some tips was good. But better to sharing how some TA analysis on your prediction, make a thread about thats, make update everyday on the thread and let's see did working or not. I believe all of these tips have been sharing with a thousand people, so these tips just like buzzword by most people when they give some tips to other people about trade.

You are definitely right.Okay lets put up some examples of those threads.

https://bitcointalk.org/index.php?topic=5249066.0
https://bitcointalk.org/index.php?topic=2276488.200
https://bitcointalk.org/index.php?topic=5057913.20
https://bitcointalk.org/index.php?topic=5209574.0
https://bitcointalk.org/index.php?topic=5048060.0

and lots more.

Easy to say those very basic things but when you are on the actual situation or field then following those rules
are really hard.

[bekti3]

Easy to say those very basic things but when you are on the actual situation or field then following those rules
are really hard.

Right, buddy. your words truly represent us. and in fact everyone can provide various tips and tips for success in trading. But as you said that when in the field, theory and everything else that is used as a principle seems to dissolve and let it flow as it should.

[youdacapt]

3 Habits to being a successful trader
 
3. Study the market: Analyse the market with your strategy. Use hard data to guide your strategy plan like technical analysis or fundamental analysis.
 

I agree so much with the 3rd habit you listed; and in addition i say it is not enoughh to study the market; but you must also understand the market and market emotions; because TA / FA have flaws; your ability to understand market emotions, languages helps you to make better decisions in times as that.

[passwordnow]

Right mindsetting is easier said than done. You'll be blown up once you see the market going down and making entirely your portfolio into a bloody bath.
The #3 studying the market, it should also include you studying the news that lies within the market. They're making things worse and good depending to that news just like what we had recently from UK.

[Mahanton]

Persistence and Patience, these things are main things on where you can make yourself stand on this market.Dont fall into greed and set realistic goals or targets.
Habits on being greedy or expecting way too much would really result into common mistakes.Being successful cant really be attained in a short span of time
and it do take lots of time and effort and experience for you to attain this capability.

[cryptolord2077]

You gave good advice, but it's too vague. All of the above skills are made up of constant daily routines. Especially attention control.
To do this, every day you must focus your attention on something, on some subject for a certain time, or simply stop thoughts. It's incredibly difficult, but that's how this skill develops.

[sheenshane]

1. Manage your risk:

2. Control your mindset:

3. Study the market:

I tend to agree with all of these but it doesn't mean you will always have successful trading, this is just basic tips that you need in trading.  But it will not give a guarantee to have a successful result in trading.  It will depend on how your strategies will work and the knowledge you had, it's better if you also share the technical analysis that might you use in trading.

There's no successful trader at all times, they still experience failure due to the market is unpredictable and I think to maintain stay in a green position isn't easy at all.  That's why people tend to stay hold their portfolio especially during this bear market that everything was in the green position while holding is the safe method of earning money in crypto and for sure most commonly was successfully cut their profit during the price was on the top.

[GreatArkansas]

1. Manage your risk:

2. Control your mindset:

3. Study the market:

I tend to agree with all of these but it doesn't mean you will always have successful trading, this is just basic tips that you need in trading.  But it will not give a guarantee to have a successful result in trading.
(....)

I believe that these 3 "simple" habits to being a successful trader may be really simple and easy to practice, but when you dive deep into it, there are a lot of branches or classifications of it, like the #3 Study the market, there are a lot of questions there, how, why, what, etc. It may be difficult for some newbie in trading, but I guarantee if we will able to master it and become well known for these habits, we will become successful.
Just a tip, we should be focus and serious about these, since money is involved here, we should always protect our money, risks are everywhere.