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Author Topic: Characteristic of trader  (Read 547 times)
pugi2
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January 29, 2018, 10:25:24 AM
Merited by orka39 (8), Icaxx (4), milewilda (1), pikebu (1), Oceat (1), frowsiter (1), aoihs00 (1), Kambal2000 (1), PX-Z (1), Manc89 (1), Layonk (1)
 #1

Hello everyone
I am newbie here in cryptocurrency trading so i can feel what newbie feel when they start trading.
As newbie, one thing we have to do is learning. Learning can be from any source for example this forum, google, youtube or maybe private with expert. You can choose betwen those source to learn how to start trading so of course we do it to get skill which we can use to trade. Skill is very important but there are other thing such characteristic that we can not learn so easy from those source.

1. Greedy
Greedy is first characteristic that can make us ending in loss. If we trade without profit target, this greedy can kill your profit. Try to make target for your trade for example 50% or 100% from your capital in long term or 5% in short term. Sell your asset after touching the target, if not the price maybe go back to bearish.

2. Patience
This is specially very important for long term trader. Dont ever sell your coin in the bottom of buying price. We should be patient waiting the price return back to bullish.

3. Panic
Panic can be solved by choosing the right coin. Becasue if we choose the shit coin then we will sell it in panic if the price goes down rapidly. So panic also very dangerous for our asset value.

4. Confident
Confident is needed when we try to pick the right coin. Without confident, we can miss the big chance of the profit because waiting too long to execute. But please dont over confident.

5. Doubt
Dont ever doubt if you think that is the good coin, just do fast reaction to make good profit. This doubt can be solved by doing good research before picking the coin.

I think all trader have noticed those above characteristic but thats special for newbie like me and other newbie.
I am not expert so i can not explain it well and i hope any expert can correct and add others if i miss it.
I hope it can be usefull for newbie.

Edit

Emotions :
The ability to rid yourself of all emotions and taking profit the moment the coin you invested increases in significant value before the coin gets dumped on you. This applies mostly to day traders.

Trading pattern :
Every good trader should recognize trading patterns especially for pump and dump coins which are usually always similar.

Thanks to kevoh

   I will add a few important rules:
- Do not work with borrowed money.
- "The biggest enemy is nerves." Control emotions. Discipline and patience!
- Before entering the market, decide how much you are willing to lose. If you do not decide, do not go in; you will definitely lose everything.
I add this from kolega. Thanks

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January 29, 2018, 10:40:22 AM
 #2

I think this is good to know specially for newbie who want to start trading.
Skill is number 1 but we can not deny also this characteric because those are very important.

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January 29, 2018, 10:59:48 AM
 #3

Good list of the some bad characters that one trader should never have. Yes you are covering few good point here and this is quick tutorial for those who wants to start with new position.

However regarding this point here :

Quote
5. Doubt
Dont ever doubt if you think that is the good coin, just do fast reaction to make good profit. This doubt can be solved by doing good research before picking the coin.

It doesn’t count really because when you are going for the trade you actually have to go for those which you have studied already. So there is no question about POST-Studying them.

There is nothing like fast reaction, as you said with your 2nd point you have to be patient about it. ;-)


Quote
I think all trader have noticed those above characteristic but thats special for newbie like me and other newbie.
I am not expert so i can not explain it well and i hope any expert can correct and add others if i miss it.
I hope it can be usefull for newbie

It’s all right. At least you are trying. :-)

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January 29, 2018, 11:29:03 AM
 #4

One thing I've noticed as a trader - There is no better feeling than finding an amazing coin that not many people know about. It's like you can smell the profit, and it is addicting

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January 29, 2018, 11:48:26 AM
 #5

Emotions :
The ability to rid yourself of all emotions and taking profit the moment the coin you invested increases in significant value before the coin gets dumped on you. This applies mostly to day traders.

Trading pattern :
Every good trader should recognize trading patterns especially for pump and dump coins which are usually always similar.


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January 29, 2018, 12:21:45 PM
 #6

Trader should be very fast when something new happens.
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January 29, 2018, 12:28:24 PM
 #7

A trader must be emotionless when trading because if you loose a trade you will seek revenge and can do some stupid things when trading and it will cause you loosing more, and a trader must be educated to have a big and passive income daily weekly monthly etc.

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January 29, 2018, 12:56:57 PM
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 #8

A good and successful trader must have patience, enough knowledge to deal with other crypto traders and must have the courage to take risk whatever may happen to your money.

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January 29, 2018, 01:01:44 PM
 #9

I have also observed the frequent mistakes made by traders.
To terminate early, especially lucrative transactions,
to ambition as a result of lost money investments,
and to lose time with promising investments.



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pugi2
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January 29, 2018, 03:43:31 PM
 #10

Good list of the some bad characters that one trader should never have. Yes you are covering few good point here and this is quick tutorial for those who wants to start with new position.

However regarding this point here :

Quote
5. Doubt
Dont ever doubt if you think that is the good coin, just do fast reaction to make good profit. This doubt can be solved by doing good research before picking the coin.

It doesn’t count really because when you are going for the trade you actually have to go for those which you have studied already. So there is no question about POST-Studying them.

There is nothing like fast reaction, as you said with your 2nd point you have to be patient about it. ;-)


Quote
I think all trader have noticed those above characteristic but thats special for newbie like me and other newbie.
I am not expert so i can not explain it well and i hope any expert can correct and add others if i miss it.
I hope it can be usefull for newbie

It’s all right. At least you are trying. :-)

Thanks for your feedback. Your point is appreciate.
I need such this feedback so all newbie can read here and learn from here together.

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January 29, 2018, 03:48:20 PM
 #11

Emotions :
The ability to rid yourself of all emotions and taking profit the moment the coin you invested increases in significant value before the coin gets dumped on you. This applies mostly to day traders.

Trading pattern :
Every good trader should recognize trading patterns especially for pump and dump coins which are usually always similar.



Thanks for adding the less of my post.
In my opinion, i think emotions is similar with greedy. We are always feel like the price will goes up more but we dont know if we dont take the profit then we will be facing the loss.

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January 29, 2018, 03:53:28 PM
 #12

I have also observed the frequent mistakes made by traders.
To terminate early, especially lucrative transactions,
to ambition as a result of lost money investments,
and to lose time with promising investments.


May i know what you mean loss time with promissing investment?
Do you think we will lost time and other opportunity if we invest in bitcoin such promissing investment? Not always.
We are different so we have different style how to do our trading. Slow and safety trader or extrim trader. All depend ourselves.
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January 29, 2018, 03:59:38 PM
 #13

Hello everyone
I am newbie here in cryptocurrency trading so i can feel what newbie feel when they start trading.
As newbie, one thing we have to do is learning. Learning can be from any source for example this forum, google, youtube or maybe private with expert. You can choose betwen those source to learn how to start trading so of course we do it to get skill which we can use to trade. Skill is very important but there are other thing such characteristic that we can not learn so easy from those source.

1. Greedy
Greedy is first characteristic that can make us ending in loss. If we trade without profit target, this greedy can kill your profit. Try to make target for your trade for example 50% or 100% from your capital in long term or 5% in short term. Sell your asset after touching the target, if not the price maybe go back to bearish.

2. Patience
This is specially very important for long term trader. Dont ever sell your coin in the bottom of buying price. We should be patient waiting the price return back to bullish.

3. Panic
Panic can be solved by choosing the right coin. Becasue if we choose the shit coin then we will sell it in panic if the price goes down rapidly. So panic also very dangerous for our asset value.

4. Confident
Confident is needed when we try to pick the right coin. Without confident, we can miss the big chance of the profit because waiting too long to execute. But please dont over confident.

5. Doubt
Dont ever doubt if you think that is the good coin, just do fast reaction to make good profit. This doubt can be solved by doing good research before picking the coin.

I think all trader have noticed those above characteristic but thats special for newbie like me and other newbie.
I am not expert so i can not explain it well and i hope any expert can correct and add others if i miss it.
I hope it can be usefull for newbie.
On number 3 panic can be handled if you have reserved to add in and compensate for your loss. A good trader is always cautious about his investments the confident and doubt are almost the same. One thing that every trader need to have a considerable amount of patience.

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January 29, 2018, 04:48:09 PM
 #14

trader is not an easy path, i would extend that list much further. some would add; vision, critical mindset, psychological stability, experience, discipline
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January 29, 2018, 05:26:49 PM
 #15

As a matter of fact, For success in trading, there should be good characteristics for the trader because this field is not easy and especially for beginners. but in my opinion, the good trader must have 3 characteristics at least, as follows:

Firstly patience, When the trader is impatient, then he cannot make a lot of money in this field, especially when waiting for a currency to rise and trading in a long time.

Secondly strategic, It is very important to have a strategy and a plan for every situation can happen in the near future So that you can deal with each fall in price or jump in the market.

Thirdly confident, So trust in the same is necessary in all fields, and with regard to trading in digital currencies It is very essential that there be choices with complete confidence and this leads to financial gain.
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January 29, 2018, 11:51:48 PM
 #16

trader is not an easy path, i would extend that list much further. some would add; vision, critical mindset, psychological stability, experience, discipline

Experience will come outomatically if we start trading so its not one of the characteristic of trader that we need.
Discipline one of the important one that we need to have as trader because without discipline we might be lossing our plan.

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January 30, 2018, 12:20:44 AM
 #17

Hello everyone
I am newbie here in cryptocurrency trading so i can feel what newbie feel when they start trading.
As newbie, one thing we have to do is learning. Learning can be from any source for example this forum, google, youtube or maybe private with expert. You can choose betwen those source to learn how to start trading so of course we do it to get skill which we can use to trade. Skill is very important but there are other thing such characteristic that we can not learn so easy from those source.

1. Greedy
Greedy is first characteristic that can make us ending in loss. If we trade without profit target, this greedy can kill your profit. Try to make target for your trade for example 50% or 100% from your capital in long term or 5% in short term. Sell your asset after touching the target, if not the price maybe go back to bearish.

2. Patience
This is specially very important for long term trader. Dont ever sell your coin in the bottom of buying price. We should be patient waiting the price return back to bullish.

3. Panic
Panic can be solved by choosing the right coin. Becasue if we choose the shit coin then we will sell it in panic if the price goes down rapidly. So panic also very dangerous for our asset value.

4. Confident
Confident is needed when we try to pick the right coin. Without confident, we can miss the big chance of the profit because waiting too long to execute. But please dont over confident.

5. Doubt
Dont ever doubt if you think that is the good coin, just do fast reaction to make good profit. This doubt can be solved by doing good research before picking the coin.

I think all trader have noticed those above characteristic but thats special for newbie like me and other newbie.
I am not expert so i can not explain it well and i hope any expert can correct and add others if i miss it.
I hope it can be usefull for newbie.


This is the best way to start trading before trading them before they start trading so they can avoid losing big money in trading.


BITMONEY
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January 30, 2018, 07:40:39 AM
 #18

One thing I've noticed as a trader - There is no better feeling than finding an amazing coin that not many people know about. It's like you can smell the profit, and it is addicting
Hahahaha yes this happens. And I suppose this must had happened with all those lucky persons of 2010 or around who came to know about bitcoins and they smelt the good profits out of it. Those people are seriously so amazing who had taken bitcoins in their accounts at that starting time. And now they’re playing in hundred thousands of dollars by trading and holding and investing.

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SWISS
MADE
kolega
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Activity: 294
Merit: 11


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January 30, 2018, 09:04:41 AM
 #19

   I will add a few important rules:
- Do not work with borrowed money.
- There is no high price to start purchases, there is no low price to start sales.
- "The biggest enemy is nerves." Control emotions. Discipline and patience!
- Before entering the market, decide how much you are willing to lose. If you do not decide, do not go in; you will definitely lose everything.
- You should not trade. You must manage the risks.
aoihs00
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January 30, 2018, 10:44:59 AM
 #20

After very long time I’m seeing very good thread with quality answers, wow merit system does work I belive.

Got more attracted to the answers and kept reading through all of you and looks like engaging discussion.

Moreover we can also look for some good blogs, I would suggest steemit community which gives us extensive information gathered from all over so you can easily work out the math.

That’s not a characteristic but a way to approach to trades in professional way, the studying! That’s important too.

Nice post OP.



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