Characteristic of trader

[icons6]

Trading success comes from screen time and experience.Because of that,different characteristic developed.The best traders have a well documented plan,the important is they know exactly what they are looking for and follow that plan to the letter.Best traders know their limitation and expand a lot of energy in limiting and controlling their risk before thinking about profits.

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[Theb]

To keep it short a trader must be highly composed on what he is doing. Composure is really important as it will be the one that will make you stick to your plan or strategy without you losing focus by its price action or FUD you are seeing. Also without being composed you will most likely not think about your plans anymore as you will be in a state of panic, instead of being in that stage you must now be prepared for your contingency plans as any good trader has one for any of their plans.

[orka39]

Well i think all of the characters above are available on all of the human, in trading activity we just need to taking control the emotions in trading depending on the trend of price in the markets, target of profit in trading activity and any other related with the trading until we to be sucessfull in trading and getting the active income profit from trading. In trading we need more control on our emotions, there are some people said that we need to know about the psycology of trading.

Yes all of the character is in all human but how we can learn how to control it.
Successfull trader not only depend on their skill but psychology too as trader. Control emotion, dont greedy and more like mention above.

[pugi2]

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.

Thanks for your support. Steemit also good source to learn how to trading and dont forget youtube. Learn from video is more easier.

   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.

Thanks for your post. Borrowed money is very dangerous money that we will use for trading. All know we need money, small or big amount at least we are ready to loss it.

[EtherATM]

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.

From my point of view, I personally suppose that there are many factors which is necesarry for all of us to do good for trading. However, there are  three factors basically help us most. The first I think that KNOWLEDE is the most important. We all know that when we have trading for something, we should prepare time for learning or enrich our knowledge foremost and maybe it requires you much more time. The second is EMOTION. Well, you all know that trading in crypto currencies, you have to face with many troubles through its extremely volatile. You must keep your head , be patient in anytime ,especially you’d control your emotion, which will help you a lot to trade for a long term. The last one is ANALYZING. To know whether you should or shouldn’t do, you must read and read currently the information updating through the internet, which helps you to analyze well and make an accurate decision.

[royale143]

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

Good read. I agree with the characteristics you cited, but I would like to add some. You should also be knowledgeable. It is a very critical character because if you have ample knowlege, you won't be easily tricked into going for trades and deals that may seem good on the onset, but would amount to virtually nothing in the end. You also have to be brave; you can't be afraid after a loss. You should keep at it because one should know that there are times that even you prepared for every possible outcome, bad luck still strikes.

[audrey12]

Traders are those optimistic people who sees thing in a positive outcome despite any setbacks they may encounter. For you to become a successful traders you must be willing to take a risk but should be confident enough in choosing your target market. You should also be patience not all the time is a winning situation neither losing. Traders study their market and willing to learn everything to succeed in their chosen fields.

[GoodLuck2]

Nice thread,  its a big help to those who don't have enough  information how to prevent loses in doing trading , and also all things that required to be a good trader is attached already this thread . Good time to add some strategy and also this is good to those newbie who lack of information and want to enter in trading.  

This is really inspiring and quite lively that people on this forum intend to help each other or one another in the best possible way from the core of heart. Such threads should be made quite often because they are very helpful for newcomers. Newbies are usually experiencing losses because of wrong directions they following or lack of guidance. Being trader is not an easy thing and it is moral duty of experts to help newbies.

[pikebu]

Well i think all of the characters above are available on all of the human, in trading activity we just need to taking control the emotions in trading depending on the trend of price in the markets, target of profit in trading activity and any other related with the trading until we to be sucessfull in trading and getting the active income profit from trading. In trading we need more control on our emotions, there are some people said that we need to know about the psycology of trading.

Yes all of the character is in all human but how we can learn how to control it.
Successfull trader not only depend on their skill but psychology too as trader. Control emotion, dont greedy and more like mention above.

Yes, unfortunately there are no many source of information about the psycology of trading especially in trading alternative coins, the professional of traders alternative coins still keeps the secret about the psycology of trading alternative coins, complete explanation about the analysis fundamental and technical especially in alternative coins, include the plan of trading alternative coins to be getting active income profit on every condition of altcoins markets ( up trend or down trend).

[richmcrich]

This thread is very useful to all trader and ofcoarse to the newbie in trading.  Because they can know what they need characteristics if they start trader.  For me the first characteristics to be learn in newbie is PATIENCE because if you have that you can wait the price to increade and after that for sure you can make profit.  Don't be greedy because sometimes being greedy the result is bad . So if you think the profit is enough it is okay.

Trading is surely one of the difficult thing to do in this world when it comes to that of earning of money. However, if you manage to learn the trick of becoming a successful trader, then making of a huge amount of money will the easiest thing to do for you using your skillset and expertise. Traders have this quality of having a huge amount of knowledge as well as power of controlling their emotions all the time.

[Andrey123]

Without a good trading strategy and understanding the market, everything else is not essential.
Trade is work, like any other.
If a person is quick-tempered and not balanced, then he can not work anywhere.
There are no characteristics, you either know how to do it, or you do not know how.
There is no third.
And all the books about psychology, self-discipline are complete nonsense!

[vidprab5]

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.

The op really has some points in this.  Greediness is the number one thing that can make us to lose money in trading.  Some people  will like to invest all they have in trading,  just because they are looking to make bigger profit, but at the end, they will still lose it. So if one don’t want to end up in pretty bad loss, they should minimize what they put in.

[carodupuis]

   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.

Lol, quite funny 😄 only someone who’s crazy would trade with a borrowed,  that’s a heavy risk for someone to take. The best thing to do with a borrowed money is to invest it, that way, you’re sure of making profit by the end of the week or month, depending on their system.

[yadwoa69]

The first  characteristics of a trader is to know his risk to reward ratio.  To learn to cut losses short and let profit run. A trader needs to be patient, learn to read and interpret  chart. Above all greed should never be entertain   by a trader. If one can discipline  himself  to exhibit  these characters then he is a trader.

[trickyriky]

I suppose a trader should be a very educated and intelligent person, opened to everything new. He must not panic if he loses and he must always be in the process of self-education.

[futuret]

everything you mentioned is true and all this has a solution and there is one key where you can control all these keys is patience, no matter how they trade and what character is just one solution, patience.

Exactly if they will have time to wait and money to trade in bitcoin then nothing will ever beat them but if they will be impatient then not sure for better future and profit, so in my opinion a trader should be, smart that he will have the power to trade and earn good profit, he should be wise and disciplined. Growth of bitcoin is depending on time of trading and amount of money that how much you are trading with smart time.

[kateryana81]

Trading success comes from screen time and experience.Because of that,different characteristic developed.The best traders have a well documented plan,the important is they know exactly what they are looking for and follow that plan to the letter.Best traders know their limitation and expand a lot of energy in limiting and controlling their risk before thinking about profits.

A proper paper work is very important for achieving your goals and targets. Without a proper plan followed by backups, it is not possible for vine the smartest person to achieve exactly what he or she wants. As far as becoming successful trader is concerned, the thing is that it demands specific things from the volunteer. He or she should have very good technical knowledge along with handsome experience.

[19faraon88]

There are lots of thing to define the characteristics of a traders, some are impatient while others are very patiently wating, while most are greedy. It takes some situations to identify each traders characteristics,  and though those, some traits are being developed. It takes a lot of self-discipline to become a successful trader. These are only few characteristics that defined the real attitude of a trader. In the world of trade you will meet different character that you never thought you would. So be careful when you trade, you never know whose watching you because there also liars which only wants your money.

[tannerchum]

Trader should be very fast when something new happens.

We consider many things to be a good trader. A characteristics which not only you will like but also other too. In trading you should consider your emotions and virtues both will be together. Because we admit that their are times that we cannot hold on for what will be the result of trading system. Virtues because important to apply and implement to ourselves. That is the most important charcteristics.

[BobBct]

I think a trader is emotionless, if you are very emotional it can really affect your trading. and a trader must be fast because if not you will miss or maybe loss trades because of not being fast.