Four Keys to Success

[lienfaye]

1.  I learned that no one can accurately and consistently predict the market.  There are many gurus out there, giving out predictions like candy.  Some have large followings and paid groups.  It gives people a sense of comfort to seek advice and predictions from these people.  But in the end, it's important to remember that no one knows what is going to happen.  

This is true, many predictions have been said and some of them came from experts but is it really reliable? No because no one can certainly know the future of each coins. However its not bad to listen but dont just rely in what they are saying, its important to have firm decision hence if something bad happen you cant blame anyone but yourself.

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[anzhanbei1214068]

Thank you for your share of the trading advice, I get the benefit from it.

When I was in the market began to decline in fantasy maybe tomorrow the price will be rise up, but didn't, the market has been down, until I lost seventy percent of their money, to begin to turn green, the market now if I could use your this way, maybe I won't lose so much money.

[timikulit]

Thank you for sharing your own strategy. it helps a lot of people which is new to trading or investing. However, i believe that every person has its own comfortable strategy to play with. Some traders are happy to make short trades even if the market is pulling down. Its a matter of your behavior on how you manage your profit and loss.

[RondoAnyar]

thanks already share the trading experience, I think many people are also implementing the same thing you do but everyone has a few different strategies and probably will apply the concept that would give a profit. I think your concept is very good.

[federico7]

Those are great. I add something that is's called WD Gann's trading rules, it's from another times, but it helped me when I was starting and of course, making a lot of mistakes.

Never risk more than 10% of your trading capital in a single trade.
Always use stop-loss orders.
Never overtrade.
Never let a profit run into a loss.
Don 't enter a trade if you are unsure of the trend. Never buck the trend.
When in doubt, get out, and don't get in when in doubt.
Only trade active markets.
Distribute your risk equally among different markets.
Never limit your orders. Trade at the market.
Don't close trades without a good reason.
Extra monies from successful trades should be placed in a separate account.
Never trade to scalp a profit.
Never average a loss.
Never get out of the market because you have lost patience or get in because you are anxious from waiting.
Avoid taking small profits and large losses.
Never cancel a stop loss after you have placed the trade.
Avoid getting in and out of the market too often.
Be willing to make money from both sides of the market.
Never buy or sell just because the price is low or high.
Pyramiding should be accomplished once it has crossed resistance levels and broken zones of distribution.
Pyramid issues that have a strong trend.
Never hedge a losing position.
Never change your position without a good reason.
Avoid trading after long periods of success or failure.
Don't try to guess tops or bottoms.
Don't follow a blind man's advice.
Reduce trading after the first loss; never increase.
Avoid getting in wrong and out wrong; or getting in right and out wrong. This is making a double mistake.

[Vit83]

I learned to be patient;) I learned that you need plan for both variants. Before you buy something you must understand where are you going to sell it if it falls or if it raises. If I see that it can fall in 50% and growth just in 5-10% I won't buy this.

[sandos]

thanks for your sharing and i totally agree with you. trading is the most difficult job in the world and you have to learn from mistakes to protect your money. and I wanna give my advice that you have to learn the way how to control your emotion. Do not too greedy or scared

[EtherATM]

The above suggestion is very helpful to the Newbie who doesn't have much knowledge about the trading. Most of the people will follow you because you have represented everything how trader will face everything in his trading journey. I faced the same situation at the beginning of my trading.

I also think that 4 keys to success above is really useful for all of us ,especially for the one who is a new in this market. I wan to say thank you to you a lot. I find the key 1 really great,every of us shouldn’t believe in anyone when you are in crypto market because as far as you know that this is completely anonymous, it maybe have many scammers,therefore you’d better do not think that it helps you natuarally. From trading for last some years,I feel like more interested in this job, especially this is the job which helps us a lot in reliazing mistakes and also we have chance to fix it.

[herurist]

I have learned some valuable lessons from trading that I would like to share.  These are my personal thoughts and not trading or financial advice.

1.  I learned that no one can accurately and consistently predict the market.  There are many gurus out there, giving out predictions like candy.  Some have large followings and paid groups.  It gives people a sense of comfort to seek advice and predictions from these people.  But in the end, it's important to remember that no one knows what is going to happen.  

2.  I have learned that protecting my money is the number one priority.  Many people develop a sense of attachment to certain tokens.  They will lock them away in cold storage, and HODL no matter what happens.  But remember that even the most solid tokens will bleed heavily during a massive market correction.  Many people with "strong hands" HODL all the way to the bottom, where they eventually sell and get REKT.  Remember that not everything will rebound.  In the real world, 9 out of 10 traditional new businesses will fail within 5 years.  Why would crypto, which is based upon brand new technology, be any different?  This is why I believe in setting stop losses.  Even if the token bounces after I sell, at least I have protected my earnings and I can continue to trade another day.

3.  The trend is my friend.  When Bitcoin starts trading at lower highs and lower lows, that is the sign of a possible bear market.  At that point, I convert back into fiat and wait.  I don't try to catch falling knives, which means buy crypto as prices are falling.   I patiently wait until the market hits the bottom.  But how do I know what the bottom is?  I don't.  I wait for Bitcoin to show a reversal and solid uptrend, higher highs and higher lows, building solid support levels before I start to invest again. When I start investing, I carefully dollar cost average in.  

4.  By selling during a downtrend and buying during an uptrend, I make consistent profits.  I don't have to know where the tops and bottoms are.  And even if I make a mistake and sell my crypto too early, only to watch them rebound and moon, I have still protected my money.  Then I get back on the train and continue the ride upward.  I may suffer a little FOMO, but nothing is really lost.  

That's my personal strategy.  It's important to remember that everyone on crypto Twitter is looking out for their own investments.  They will encourage you to HODL when the ship is sinking because they don't want their bags to lose value.  But I always look out for myself first, and never get attached to tokens.

Again, this is my personal strategy and not trading advice.  What have you learned from trading?

Thank you for sharing experience and what I learn from trading just one, this is not the easy way to make money, so never trust people who can create high income in short time, that's lie. The knowledge is same but we must fix our strategy because trend always change. Fixing strategy look's simple but doing all the time is bad and not all people like this activity. I'll keep fix my strategy not because fail but follow the trend not to against.

[JC btc]

The above suggestion is very helpful to the Newbie who doesn't have much knowledge about the trading. Most of the people will follow you because you have represented everything how trader will face everything in his trading journey. I faced the same situation at the beginning of my trading.

I also think that 4 keys to success above is really useful for all of us ,especially for the one who is a new in this market. I wan to say thank you to you a lot. I find the key 1 really great,every of us shouldn’t believe in anyone when you are in crypto market because as far as you know that this is completely anonymous, it maybe have many scammers,therefore you’d better do not think that it helps you natuarally. From trading for last some years,I feel like more interested in this job, especially this is the job which helps us a lot in reliazing mistakes and also we have chance to fix it.

That is right, but although we are given already those facts if we cannot apply it in ourselves then it is useless. But still the best strategy so far is to have your own experience, if you have the guts in doing so then put up some  little amount so that we can try trading in ourselves.

[zhinaivan]

Learn how to trade,patience,searching or reading what ico legit but also you have money ro invest here.this is my four key to get success to the cryptocurrencies and i known someday you will to your children how to be success.

[kamike]

Learn how to trade,patience,searching or reading what ico legit but also you have money ro invest here.this is my four key to get success to the cryptocurrencies and i known someday you will to your children how to be success.

Patience is a key factor that everyone was saying here, but although we do have patience if we don't have the guts to take risk then still nothing to happen with our life, that is why it is so important as well that we should have both traits for us to success in life, we need to have vision for everything.

[LuanX3]

For me, it is not to trade those super volatile coins and the highly inflated ones even if you are on the short side of things. It's highly unpredictable and in the end you can be on the losing end of the stick every trade you make. Also, do not let your emotions run lose and make a panic decision that ends up you selling a lot lower than what you bought the cryptocurrency for.

[Spain2000]

In my opinion the keys to success is the time management and the hard work is the other key to success and in the crypto market the bitcoin holding is the first key to success and the other key in the crypto is the crypto investment and the third key is the trading of this currency is the other key to success while the good thing to earn bitcoin through work and for me the best thing is the bitcoin holding for the right time and crypto usage is increasing day by day and i hope that we have to be success in the market.

[okala]

You have some very nice strategies! However, many traders are in trading because of how they have that to make money through trading is very easy but in reality it is not so. Trading is a game of professional and you should not go into it without a proper knowledge on how you can make a successful trade and also make profits.

[BartS]

The number 1 lesson is the best of all and will teach you everything. Do not believe any groups that are telling you this will happen or that will happen. It will always be just speculation.
No one can predict to what will happen. The price could double anytime or could fall until you cannot take it anymore.
Then all of it will follow, including what you should do to at least have an idea to where the price will go.
Legitimate telegram group of one coin is the best one to get more knowledge.

This is an illusion that many need to forget if I knew what was going to happen in the market I will not be sharing that information with anyone I would use the information to invest every single dollar that I have in my life and make a fortune in just one or two trades, so a trader or a group of traders giving that information can only be doing that out of two reasons, one of those reasons could be they like to help people and we see people like that in the forum but the most likely reason is that they are going to try to profit from you in some way or form.

[milewilda]

The number 1 lesson is the best of all and will teach you everything. Do not believe any groups that are telling you this will happen or that will happen. It will always be just speculation.
No one can predict to what will happen. The price could double anytime or could fall until you cannot take it anymore.
Then all of it will follow, including what you should do to at least have an idea to where the price will go.
Legitimate telegram group of one coin is the best one to get more knowledge.

This is an illusion that many need to forget if I knew what was going to happen in the market I will not be sharing that information with anyone I would use the information to invest every single dollar that I have in my life and make a fortune in just one or two trades, so a trader or a group of traders giving that information can only be doing that out of two reasons, one of those reasons could be they like to help people and we see people like that in the forum but the most likely reason is that they are going to try to profit from you in some way or form.

Theres no free into these days on where most people would really find methods which would able to make them money those motives are really possible. No one on this world would really share out a specific strategy which they do able to make huge profits on it but this is also just happening only in our dreams because predicting market price is just a fairy tale.

[Kambal2000]

The number 1 lesson is the best of all and will teach you everything. Do not believe any groups that are telling you this will happen or that will happen. It will always be just speculation.
No one can predict to what will happen. The price could double anytime or could fall until you cannot take it anymore.
Then all of it will follow, including what you should do to at least have an idea to where the price will go.
Legitimate telegram group of one coin is the best one to get more knowledge.

This is an illusion that many need to forget if I knew what was going to happen in the market I will not be sharing that information with anyone I would use the information to invest every single dollar that I have in my life and make a fortune in just one or two trades, so a trader or a group of traders giving that information can only be doing that out of two reasons, one of those reasons could be they like to help people and we see people like that in the forum but the most likely reason is that they are going to try to profit from you in some way or form.

For me, the best thing here is to be yourself make your own path here, don't just rely on the experts strategy, make  you own strategy based on your experience, you can do better here for as long as you are willing to take the risk and you will see at the end that it is so worth it to take risk.

[gantez]

1.  I learned that no one can accurately and consistently predict the market.  There are many gurus out there, giving out predictions like candy.  Some have large followings and paid groups.  It gives people a sense of comfort to seek advice and predictions from these people.  But in the end, it's important to remember that no one knows what is going to happen.  

This point is really important. It is the real gist an incoming or old trader needs to know. With this mindset, a trader would believe in looking out ways to better his/her trade and not always believe that mannas still fall from heaven.

[koralan]

I have learned some valuable lessons from trading that I would like to share.  These are my personal thoughts and not trading or financial advice.

1.  I learned that no one can accurately and consistently predict the market.  There are many gurus out there, giving out predictions like candy.  Some have large followings and paid groups.  It gives people a sense of comfort to seek advice and predictions from these people.  But in the end, it's important to remember that no one knows what is going to happen.  

2.  I have learned that protecting my money is the number one priority.  Many people develop a sense of attachment to certain tokens.  They will lock them away in cold storage, and HODL no matter what happens.  But remember that even the most solid tokens will bleed heavily during a massive market correction.  Many people with "strong hands" HODL all the way to the bottom, where they eventually sell and get REKT.  Remember that not everything will rebound.  In the real world, 9 out of 10 traditional new businesses will fail within 5 years.  Why would crypto, which is based upon brand new technology, be any different?  This is why I believe in setting stop losses.  Even if the token bounces after I sell, at least I have protected my earnings and I can continue to trade another day.

3.  The trend is my friend.  When Bitcoin starts trading at lower highs and lower lows, that is the sign of a possible bear market.  At that point, I convert back into fiat and wait.  I don't try to catch falling knives, which means buy crypto as prices are falling.   I patiently wait until the market hits the bottom.  But how do I know what the bottom is?  I don't.  I wait for Bitcoin to show a reversal and solid uptrend, higher highs and higher lows, building solid support levels before I start to invest again. When I start investing, I carefully dollar cost average in.  

4.  By selling during a downtrend and buying during an uptrend, I make consistent profits.  I don't have to know where the tops and bottoms are.  And even if I make a mistake and sell my crypto too early, only to watch them rebound and moon, I have still protected my money.  Then I get back on the train and continue the ride upward.  I may suffer a little FOMO, but nothing is really lost.  

That's my personal strategy.  It's important to remember that everyone on crypto Twitter is looking out for their own investments.  They will encourage you to HODL when the ship is sinking because they don't want their bags to lose value.  But I always look out for myself first, and never get attached to tokens.

Again, this is my personal strategy and not trading advice.  What have you learned from trading?

These are very meaningful lessons. I think this community needs more useful sharing like your article. Article 4 is very necessary for me in the period of market volatility as today.