For experienced trader, what's the things you wish you knew when you started?

[mk3000]

I've been considering starting trading and I would like to know from more experienced traders what things they wish they knew back when they started, what tips or otherwise useful information can you share with me and the other beginners? thanks!

[Idrisu]

To be a successful traders both in commodities, forex, bitcoin or cryptocurrencies generally you most developed your skills and knowledge in the following keys areas:
1. You must know that trading has a mind on its own therefore, you most know the principle of money management in trading. I did not take this into consideration from beginning.
2. Buying when others are buying, selling when others are selling. This a very big secret in trading.
3. Never abandon your strategies because of loses.
4. Don't increases lots size because you are losing.

[angrybirdy]

https://bitcointalk.org/index.php?topic=1414824

look for the trading bullet. Good Luck.

-continous observation and dedication is the key.

[mk3000]

To be a successful traders both in commodities, forex, bitcoin or cryptocurrencies generally you most developed your skills and knowledge in the following keys areas:
1. You must know that trading has a mind on its own therefore, you most know the principle of money management in trading. I did not take this into consideration from beginning.
2. Buying when others are buying, selling when others are selling. This a very big secret in trading.
3. Never abandon your strategies because of loses.
4. Don't increases lots size because you are losing.

Thanks! very good advice. one question. what exactly do you mean by "money management"?

[cpfreeplz]

I wish I knew there were lower fee exchanges back when I started. The fees are what kill you. Also I wish I took advantage of arbitrage more often but I didn't know what I was doing so doubted myself and missed out.

[Idrisu]

To be a successful traders both in commodities, forex, bitcoin or cryptocurrencies generally you most developed your skills and knowledge in the following keys areas:
1. You must know that trading has a mind on its own therefore, you most know the principle of money management in trading. I did not take this into consideration from beginning.
2. Buying when others are buying, selling when others are selling. This a very big secret in trading.
3. Never abandon your strategies because of loses.
4. Don't increases lots size because you are losing.

Thanks! very good advice. one question. what exactly do you mean by "money management"?

most skillful traders focus on one aspect of their trading life and that is survival. Trading money management is how you manage inflow of risks capital in trading in other to survive in the market. An experiences traders analysis and technically place a trade or open a position based on the principle of survival the have in place. Skillful traders don't click sell or buy except their have calculate the lots size, where to exits if they're making profits and where to exits if they are making loses. Your money management principle enable you to survive in trading after a large loss and still remains in business. To the skillful survived is the first task after that makes profits.

[beerlover]

I've been considering starting trading and I would like to know from more experienced traders what things they wish they knew back when they started, what tips or otherwise useful information can you share with me and the other beginners? thanks!

I lost some big amount of bitcoins in my initial days of trading due to lack of knowledge on selecting altcoins.

My suggestions would be.
- spend more time with paper trading.
- start trading with possible lower capitals.
- carefully choose your trading pairs. Have in-depth research on them.

[SAMKUSH]

Make sure you know exactly what you can lose, by using stop losses or trailing stop loss you can control exactly the most you will lose. Once you start to limit your losses you can start to profit overall, not all trades are likely to make you money but as long as you make money overall you are successful.

[davis196]

To be a successful traders both in commodities, forex, bitcoin or cryptocurrencies generally you most developed your skills and knowledge in the following keys areas:
1. You must know that trading has a mind on its own therefore, you most know the principle of money management in trading. I did not take this into consideration from beginning.
2. Buying when others are buying, selling when others are selling. This a very big secret in trading.
3. Never abandon your strategies because of loses.
4. Don't increases lots size because you are losing.

I can`t agree with rule number 2.You have to stand out from the crowd.Buy when the others are selling(because ussually this is panic selling) and sell when you feel the price is high.
The other rules are fine.

[Zadicar]

I wish that i knew already from the start that trading isnt an easy money and i do also hope that i can already control my emotions from the very first start since these things does really affect me too much when i was just starting on doing trading until know but i already how to handle them.

[talkbitcoin]

I've been considering starting trading and I would like to know from more experienced traders what things they wish they knew back when they started, what tips or otherwise useful information can you share with me and the other beginners? thanks!

there aren't anything that can come to my mind that i wished i knew, and this is because i started very slowly. at first i learned many things about trading, the basics, ... and then i started doing it with small amounts trying to put those things i learned to test in real action. and for a while i just worked with that small amount and every profit that i made from that small amount i put back in trading again and in time i grew my investment, making more over time.

you can do the similar thing and never regret a thing.

[xuan87]

one of the hard lesson I learned from experienced is never do a panic sell, I had lost amount of money because I saw the market down and I sold all of my coin at a very low price and just with in few days the price bounce back, the other one is don't easily believed to someone on which coin to trade, you need to do your own research

[jacaf01]

For me, it was human psychology, this is as important as learning all the technical charts. The way markets react to bad news, news of hacks in particular. Once you can anticipate the way man will react to some things in a particular time, is going to help your decision making.

[densuj]

For me, it was human psychology, this is as important as learning all the technical charts. The way markets react to bad news, news of hacks in particular. Once you can anticipate the way man will react to some things in a particular time, is going to help your decision making.

Yes i agree except about analysis technical and fundamental
there is something other must be learned on trading activity
and it is psychology of trading,
unfortunately there are no many source about psychology of trading
or talking about psychology related with trading activity.

[ipanks]

To be a successful traders both in commodities, forex, bitcoin or cryptocurrencies generally you most developed your skills and knowledge in the following keys areas:
1. You must know that trading has a mind on its own therefore, you most know the principle of money management in trading. I did not take this into consideration from beginning.
2. Buying when others are buying, selling when others are selling. This a very big secret in trading.
3. Never abandon your strategies because of loses.
4. Don't increases lots size because you are losing.

Thanks! very good advice. one question. what exactly do you mean by "money management"?

i think money management is useful for us to manage our money, how much we want to use to buy the coins, how much we want to get profit. if we have the profit, will we use all money plus profit to buy the coins and etc. money management is the hardest thing if we don't know how much we want to spend so if we are not manage with good, we only spend all of our money. we should have back up money if something bad happen in the market.

[hisuka]

When I enter the world of trading, I wish i never done panic selling on trading an altcoins. Money management, dont trade with emotions. I wish I had these things before I started in trading. Because I loose a lot of money when I do panic selling, trade with emotions. These are important things that we should keep in mind.

[pooya87]

i wish i knew most of the altcoins are not moving logically but with hype and pumps instead. i would have saved up on so much loss and made so much more profit.

also another thing that i have learned is stop loss. it saved my ass so many times that i have lost count of.