5 Things All traders should Do

[el kaka22]

I always lose when it comes to trading because I trade with emotion but thank you for sharing this strategy, It's very helpful for newbie trader like me, hope that I will successful trader in the future.

If you don’t control emotions then they play with you. Trading is all about the risks and the things going up and down. As you are new for trading just relax when trading, just make a strong decision based on analysis of price charts and also follow some strategy along with money management techniques.

I guess any 5 things alone will not be sufficient for perfect trading. We need to focus on lots of aspects of trading so that we can have successful trading experiences.

[1714836040]

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[onrise]

1. Stop trading
2. Hold
3. Hold
4. Hold
5. Hold

This may not be true always especially if you do not have knowledge and analytical skills to analyze market. Just for example I bought at 4500$ and say in future the prices is continuously falling, so as a smart investor I will sell off my holding and if further the markets dip I would buy more at a low. As bitcoin price will rise so I will sell later and can easily average out if any loss incurred in previous selling.

[devrawal93]

The following 5 things are easy to internalize because these tips were “written in blood” (my own blood  Lols   ). However, it’s still difficult to apply them in real-time. After all, we are not rational human beings.

1) Reason For Entering Trade: Start a trade only when you know why you’re starting and have a clear strategy for afterwards.
Not all traders make gains from trading, since this is a zero-sum game (for everyone who benefits someone else loses on the other side).The Altcoins market is driven by large whales (yes, the same ones responsible for placing huge blocks of hundreds of Bitcoins on the order book).

2) Target & stops: For each trade we must set a clear target level for taking profit and more importantly, a stop-loss level for cutting losses. A Stop-loss is setting the level of loss where the trade will get closed.

3) Meet FOMO (fear of missing out): Indeed, it really isn’t fun to see such situations from the outside – when a certain coin is being pumped up like crazy with huge two-digit gains in minutes.

4) Risk Management: little pig eats a lot, big pig gets eaten. This statement tells the story of the market profits from our perspective. To be a profitable trader, you never look for the peak of the movement. You look for the small profits that will accumulate into a big one.

5) The Asset creates Volatile Market Conditions: Most Altcoins are traded according to the Bitcoin value.
Bitcoin is a volatile asset (relative to FIAT) and this fact should be taken into consideration, especially in the days when the Bitcoin value is moving sharply.

There are many things like Maintaining a Journal,Upgrading your strategy,Dynamic change in market Behaviour, Checklist for your Trading Plan, Psychological Mindset , all these plays a vital role in traders career and these are also important to know for Every trader.

[AweJohn]

Great info you put in here !
Even do it is great information, I think that 90% if not more of newbies will still find out the hard way what should be done and when should it be done...
It's easy to read something and then forget about it, but when you get that sick feeling in your stomach when you experience your first big dip and you see
the falue of your portfolio sink ... well then you get to see what you are made of, do you panic and sell to save some of your money or do you reread what others
that experienced this time and time again said.
So if you get in that hard place where your coins go down just read what others more experience said and apply it.
It's as easy as that ( in theory anyway ) .

[Lanatsa]

1. Stop trading
2. Hold
3. Hold
4. Hold
5. Hold

This may not be true always especially if you do not have knowledge and analytical skills to analyze market. Just for example I bought at 4500$ and say in future the prices is continuously falling, so as a smart investor I will sell off my holding and if further the markets dip I would buy more at a low. As bitcoin price will rise so I will sell later and can easily average out if any loss incurred in previous selling.

There are people who have this kind of mentality on which they do fixed their minds on just holding.Depending on what kind of investor you are but as a wise one we should really always secure profits on peak prices and sell them off on those ranges and then buyback when theres a dip i would be that you will able to enjoy on seeing profits on short time than on longer ones.If you dont like the risk then stick on what you believe.

[wurth]

1. Stop trading
2. Hold
3. Hold
4. Hold
5. Hold

This may not be true always especially if you do not have knowledge and analytical skills to analyze market. Just for example I bought at 4500$ and say in future the prices is continuously falling, so as a smart investor I will sell off my holding and if further the markets dip I would buy more at a low. As bitcoin price will rise so I will sell later and can easily average out if any loss incurred in previous selling.

There are people who have this kind of mentality on which they do fixed their minds on just holding.Depending on what kind of investor you are but as a wise one we should really always secure profits on peak prices and sell them off on those ranges and then buyback when theres a dip i would be that you will able to enjoy on seeing profits on short time than on longer ones.If you dont like the risk then stick on what you believe.

There are two type people trading on market, holder and trader.
Holder is people set target and sell their coin at this target, they not care about price of their coin up or down in short time, because they believe their target always right!
Trader is people trading their coin when have more fluctuation on market as @onrise said, however if your predict is wrong, you will need take loss if do not want miss buy back your coin.

[Emilyearl]

Priceslide Strategy
1. Never be emotional – especially afraid

It’s easy to come in with mentality that it’s exciting to make money, because it is. However, trading has to be looked at with a cold and calculating eye. Don’t let the ups get you excited, or the downs get you depressed. People with a loser’s mentality trade with emotion. When the coin is down, just start slowly buying. When it’s up just start slowly selling (more on this later). If you allow fear to come into the trading process – fear of missing out, or fear of selling too soon / too late, you will never be an effective trader.

2. Always be prepared

Know your market, read the ANN thread of the coin you’re buying. Know the development team, their past, their scam accusations. Know the total amount of the coin in circulation and the inflation rate. Know how many coins the top holders have. Plan on coin accumulation over time – even when a coin can seem at its bottom, there’s always a chance scared people will push it 20% lower before there’s someone to pick up the pieces

3. Never put all your eggs in one basket

This should be obvious to everyone, but never champion a specific coin. “believing in a community” is the single most ridiculous thing that the altcoin traders have come up with. The dogecoin community was massive and actually got a nascar sponsorship through, but the excitement of the past doge days is long gone. My point here is that no community sticks around for too long, because there’s nothing to actually lock anyone in after big traders have abandoned the coin.

4. Always be logical

The same as never be emotional, stated in the positive. It is important enough to restate, because it is the single most critical, and common, mistake that traders make. The herd moves with what “seems” correct. Buy when a coin is going up. However, you should be selling when the coin is going up. That is the time to take profit – when everyone else is trading with emotional excitement, thinking only of their greed. It’s easy to take advantage of if you know what to look for

5.Never sell all your coins at once

Space your trades out – pumps can start and stop at any time, and any price level.

Even if you “know” it’s at the top, it can always go higher. Don’t live with that regret.

This is from my blog !

https://priceslide.wordpress.com/2016/09/20/5-things-all-traders-should-do/

Just stumbled on this. Thanks for the advice. Sometimes greed doesn't let one see clearly and can lose it all in that spilt second. Will take a look at your blog am sure there will be more helpful trading tips.

[Emilyearl]

The following 5 things are easy to internalize because these tips were “written in blood” (my own blood  Lols   ). However, it’s still difficult to apply them in real-time. After all, we are not rational human beings.

1) Reason For Entering Trade: Start a trade only when you know why you’re starting and have a clear strategy for afterwards.
Not all traders make gains from trading, since this is a zero-sum game (for everyone who benefits someone else loses on the other side).The Altcoins market is driven by large whales (yes, the same ones responsible for placing huge blocks of hundreds of Bitcoins on the order book).

2) Target & stops: For each trade we must set a clear target level for taking profit and more importantly, a stop-loss level for cutting losses. A Stop-loss is setting the level of loss where the trade will get closed.

3) Meet FOMO (fear of missing out): Indeed, it really isn’t fun to see such situations from the outside – when a certain coin is being pumped up like crazy with huge two-digit gains in minutes.

4) Risk Management: little pig eats a lot, big pig gets eaten. This statement tells the story of the market profits from our perspective. To be a profitable trader, you never look for the peak of the movement. You look for the small profits that will accumulate into a big one.

5) The Asset creates Volatile Market Conditions: Most Altcoins are traded according to the Bitcoin value.
Bitcoin is a volatile asset (relative to FIAT) and this fact should be taken into consideration, especially in the days when the Bitcoin value is moving sharply.

There are many things like Maintaining a Journal,Upgrading your strategy,Dynamic change in market Behaviour, Checklist for your Trading Plan, Psychological Mindset , all these plays a vital role in traders career and these are also important to know for Every trader.

When I first started out with trading some months back, didn't know much about risk management and my blood got spilled everywhere in the market. But with time and write ups like this I got to be better at executing trades. I did fomo countless times and lost almost all my funds. Starting new is easier with the right information as this. Thanks

[imsotiredofmoviereboots]

Wow! This is really a useful thread for a newbie trader like me. I don't usually read the ANN of a coin and I just always base on how popular the coin is.

[dasher797]

Priceslide Strategy
1. Never be emotional – especially afraid

It’s easy to come in with mentality that it’s exciting to make money, because it is. However, trading has to be looked at with a cold and calculating eye. Don’t let the ups get you excited, or the downs get you depressed. People with a loser’s mentality trade with emotion. When the coin is down, just start slowly buying. When it’s up just start slowly selling (more on this later). If you allow fear to come into the trading process – fear of missing out, or fear of selling too soon / too late, you will never be an effective trader.

2. Always be prepared

Know your market, read the ANN thread of the coin you’re buying. Know the development team, their past, their scam accusations. Know the total amount of the coin in circulation and the inflation rate. Know how many coins the top holders have. Plan on coin accumulation over time – even when a coin can seem at its bottom, there’s always a chance scared people will push it 20% lower before there’s someone to pick up the pieces

3. Never put all your eggs in one basket

This should be obvious to everyone, but never champion a specific coin. “believing in a community” is the single most ridiculous thing that the altcoin traders have come up with. The dogecoin community was massive and actually got a nascar sponsorship through, but the excitement of the past doge days is long gone. My point here is that no community sticks around for too long, because there’s nothing to actually lock anyone in after big traders have abandoned the coin.

4. Always be logical

The same as never be emotional, stated in the positive. It is important enough to restate, because it is the single most critical, and common, mistake that traders make. The herd moves with what “seems” correct. Buy when a coin is going up. However, you should be selling when the coin is going up. That is the time to take profit – when everyone else is trading with emotional excitement, thinking only of their greed. It’s easy to take advantage of if you know what to look for

5.Never sell all your coins at once

Space your trades out – pumps can start and stop at any time, and any price level.

Even if you “know” it’s at the top, it can always go higher. Don’t live with that regret.

This is from my blog !

https://priceslide.wordpress.com/2016/09/20/5-things-all-traders-should-do/

Novice traders are need to learn something like this, I was trading bitcoin - usd but I miss the right time to sell , I think nobody can predict the fluctuation prices.

[babsjoe]

You can not always be all these! Those things you said we should be or be not are the very things that make us human. However having control and balance is what make you a trade duper super star

[ssb883]

The following 5 things are easy to internalize because these tips were “written in blood” (my own blood  Lols   ). However, it’s still difficult to apply them in real-time. After all, we are not rational human beings.

1) Reason For Entering Trade: Start a trade only when you know why you’re starting and have a clear strategy for afterwards.
Not all traders make gains from trading, since this is a zero-sum game (for everyone who benefits someone else loses on the other side).The Altcoins market is driven by large whales (yes, the same ones responsible for placing huge blocks of hundreds of Bitcoins on the order book).

2) Target & stops: For each trade we must set a clear target level for taking profit and more importantly, a stop-loss level for cutting losses. A Stop-loss is setting the level of loss where the trade will get closed.

3) Meet FOMO (fear of missing out): Indeed, it really isn’t fun to see such situations from the outside – when a certain coin is being pumped up like crazy with huge two-digit gains in minutes.

4) Risk Management: little pig eats a lot, big pig gets eaten. This statement tells the story of the market profits from our perspective. To be a profitable trader, you never look for the peak of the movement. You look for the small profits that will accumulate into a big one.

5) The Asset creates Volatile Market Conditions: Most Altcoins are traded according to the Bitcoin value.
Bitcoin is a volatile asset (relative to FIAT) and this fact should be taken into consideration, especially in the days when the Bitcoin value is moving sharply.

There are many things like Maintaining a Journal,Upgrading your strategy,Dynamic change in market Behaviour, Checklist for your Trading Plan, Psychological Mindset , all these plays a vital role in traders career and these are also important to know for Every trader.

Thanks for sharing this. I know I have many to learn about trading strategies. Some of the points you said I already apply them.
1, 2, and 4. I don't usually FOMO. But I feel happy when I'm already in a train that people want to join.

[nicster551]

The following 5 things are easy to internalize because these tips were “written in blood” (my own blood  Lols   ). However, it’s still difficult to apply them in real-time. After all, we are not rational human beings.

1) Reason For Entering Trade: Start a trade only when you know why you’re starting and have a clear strategy for afterwards.
Not all traders make gains from trading, since this is a zero-sum game (for everyone who benefits someone else loses on the other side).The Altcoins market is driven by large whales (yes, the same ones responsible for placing huge blocks of hundreds of Bitcoins on the order book).

2) Target & stops: For each trade we must set a clear target level for taking profit and more importantly, a stop-loss level for cutting losses. A Stop-loss is setting the level of loss where the trade will get closed.

3) Meet FOMO (fear of missing out): Indeed, it really isn’t fun to see such situations from the outside – when a certain coin is being pumped up like crazy with huge two-digit gains in minutes.

4) Risk Management: little pig eats a lot, big pig gets eaten. This statement tells the story of the market profits from our perspective. To be a profitable trader, you never look for the peak of the movement. You look for the small profits that will accumulate into a big one.

5) The Asset creates Volatile Market Conditions: Most Altcoins are traded according to the Bitcoin value.
Bitcoin is a volatile asset (relative to FIAT) and this fact should be taken into consideration, especially in the days when the Bitcoin value is moving sharply.

There are many things like Maintaining a Journal,Upgrading your strategy,Dynamic change in market Behaviour, Checklist for your Trading Plan, Psychological Mindset , all these plays a vital role in traders career and these are also important to know for Every trader.

Thanks for sharing this information. Many traders can be help by this information. Trading is unpredictable job that's why we need to learn the lessons in trading in order to make own strategies because trading can give you profit and loses on every move in trading.

[Whosdaddy]

I always lose when it comes to trading because I trade with emotion but thank you for sharing this strategy, It's very helpful for newbie trader like me, hope that I will successful trader in the future.

If you don’t control emotions then they play with you. Trading is all about the risks and the things going up and down. As you are new for trading just relax when trading, just make a strong decision based on analysis of price charts and also follow some strategy along with money management techniques.

I guess any 5 things alone will not be sufficient for perfect trading. We need to focus on lots of aspects of trading so that we can have successful trading experiences.

I will strongly agree to your logic of reasoning. Emotions play a very vital role in the world of business. You need to keep yourself under control in the time of loss even. Apart from this, you need to learn the things well, so that you may be able to earn a name in the market.

[HTracer]

I would add to a.2 following: "Never buy shitcoins. Even excellent strategy can't help much, if one's grabbed full hands of garbage".

[Cosbycoin]

You can not always be all these! Those things you said we should be or be not are the very things that make us human. However having control and balance is what make you a trade duper super star

Trading is not a school lesson that you’ll be told by someone and you will remember it in your whole life. It is just the experience which makes you a good trader. You keep on learning new things with the passage of time, which helps you out in doing effective business. But if you think that someone will tell you and you’ll become successful trader, this is near to impossible.

[Smarty14392]

You can not always be all these! Those things you said we should be or be not are the very things that make us human. However having control and balance is what make you a trade duper super star

Trading is not a school lesson that you’ll be told by someone and you will remember it in your whole life. It is just the experience which makes you a good trader. You keep on learning new things with the passage of time, which helps you out in doing effective business. But if you think that someone will tell you and you’ll become successful trader, this is near to impossible.

Not only near to impossible but totally out of question. No one is going to share their precious and secret strategies of making successful trades. We all know that experience is the best teacher, we learn best from our mistakes and I will advise the same for trading. Try to learn trading with small amounts.

[gabmen]

You can not always be all these! Those things you said we should be or be not are the very things that make us human. However having control and balance is what make you a trade duper super star

Trading is not a school lesson that you’ll be told by someone and you will remember it in your whole life. It is just the experience which makes you a good trader. You keep on learning new things with the passage of time, which helps you out in doing effective business. But if you think that someone will tell you and you’ll become successful trader, this is near to impossible.

Not only near to impossible but totally out of question. No one is going to share their precious and secret strategies of making successful trades. We all know that experience is the best teacher, we learn best from our mistakes and I will advise the same for trading. Try to learn trading with small amounts.

Well aside from these i think it's also important to develop a skill in reacting accordingly to any market situations. Most of the time this will come through experience and practice and learning how to quickly adjust will probably be as big a help in trading as having enough patience to avoid panic

[risk91]

You can not always be all these! Those things you said we should be or be not are the very things that make us human. However having control and balance is what make you a trade duper super star

Trading is not a school lesson that you’ll be told by someone and you will remember it in your whole life. It is just the experience which makes you a good trader. You keep on learning new things with the passage of time, which helps you out in doing effective business. But if you think that someone will tell you and you’ll become successful trader, this is near to impossible.

Not only near to impossible but totally out of question. No one is going to share their precious and secret strategies of making successful trades. We all know that experience is the best teacher, we learn best from our mistakes and I will advise the same for trading. Try to learn trading with small amounts.

Well aside from these i think it's also important to develop a skill in reacting accordingly to any market situations. Most of the time this will come through experience and practice and learning how to quickly adjust will probably be as big a help in trading as having enough patience to avoid panic

It is the use full for the trading and inprove the busines and skill it will resolve the issue and change the busines process it give more information for the trading and how to change process and procger it the use full one for the trating process.
1)Never be emotional 2)Always be prepared 3)Never put all your eggs in one basket 4)Never sell all your coins at once 5)Always be logical

[mast3rm1nd]

good advice; I'll do my best to follow it. what I've noticed is that trading has a slow learning curve. I wish there was like a detailed course on the matter of crypto trading.