The secret of successful part-time traders

[Gwapoman]

         1. Define your method of transaction and style

The biggest problem for part-time traders is the amount of time used for trading. If you can only spend one hour per day for trading, it will be very difficult to make actual profits. You must have a clear plan. What would you do in an hour? Will you trade in scalping or long-term or mid-term? Asking yourself these question, having a detailed plan for trading, then choose the best method.

         2. Maximize your transaction time

As mentioned, time is the key. Time management is an important skill for traders, especially in the early stages. In addition, you must have a specific plan to improve your trading skills such as review charts, backtest tools, and tracking basic economic information to make a critical analysis. Even in the bear market, maybe all it needed is to sit down and do those things above because you would not trading anyway. Be patience and chances will come.

       3. Improve your specialized knowledge

Because your transaction time is limited, you need to gaining trading knowledge and experiences by reading a book or consult an expert analysis.You need to build scripts for your strategies from different perspectives and always control your emotions when making forecast.

     4. Keep your head cool

You are not a robot and you cannot follow the price chart 24/7. If you miss a chance, lets it be and move on. Trading is long-term and opportunity is one thing that market never lack of.

      5. Join the professional Forex community

Due to the popularity of Forex forums, you will not be alone in trading. Take time to participate in forums and learn from professional traders. They may point out things that have yet known. TraderViet.com is a great community. Definitely check that out!

       6. Clear trading plan

A trading plan can maintain a relaxed and prepared state in trading. As planning ahead, you will likely to have a wider and further vision of the market, wasting less time on monitor price charts. It helps keep you calm and abides by the rules you set. A complete trading plan will help you accumulate more profitable and faster on the way to becoming a professional trader.

That’s all of my secrets, what do you think?

I agree with all of these methods..self-studying and learning from others are the greatest way to find good strategy to use when trading..but one problem most of the traders encounter is,how to apply it when they are doing actual trading?all those knowledge and strategies will be overtaken by emotions,fear or greed will be the one taking over our minds and this is what i see the big reason why many of us suffering big losses in trading..

So,i think learning to control our emotions would be a good addition to these methods to help us become a good or even a succesful trader one day.

[bncbnc]

         1. Define your method of transaction and style

The biggest problem for part-time traders is the amount of time used for trading. If you can only spend one hour per day for trading, it will be very difficult to make actual profits. You must have a clear plan. What would you do in an hour? Will you trade in scalping or long-term or mid-term? Asking yourself these question, having a detailed plan for trading, then choose the best method.

         2. Maximize your transaction time

As mentioned, time is the key. Time management is an important skill for traders, especially in the early stages. In addition, you must have a specific plan to improve your trading skills such as review charts, backtest tools, and tracking basic economic information to make a critical analysis. Even in the bear market, maybe all it needed is to sit down and do those things above because you would not trading anyway. Be patience and chances will come.

       3. Improve your specialized knowledge

Because your transaction time is limited, you need to gaining trading knowledge and experiences by reading a book or consult an expert analysis.You need to build scripts for your strategies from different perspectives and always control your emotions when making forecast.

     4. Keep your head cool

You are not a robot and you cannot follow the price chart 24/7. If you miss a chance, lets it be and move on. Trading is long-term and opportunity is one thing that market never lack of.

      5. Join the professional Forex community

Due to the popularity of Forex forums, you will not be alone in trading. Take time to participate in forums and learn from professional traders. They may point out things that have yet known. TraderViet.com is a great community. Definitely check that out!

       6. Clear trading plan

A trading plan can maintain a relaxed and prepared state in trading. As planning ahead, you will likely to have a wider and further vision of the market, wasting less time on monitor price charts. It helps keep you calm and abides by the rules you set. A complete trading plan will help you accumulate more profitable and faster on the way to becoming a professional trader.

That’s all of my secrets, what do you think?

I agree with all of these methods..self-studying and learning from others are the greatest way to find good strategy to use when trading..but one problem most of the traders encounter is,how to apply it when they are doing actual trading?all those knowledge and strategies will be overtaken by emotions,fear or greed will be the one taking over our minds and this is what i see the big reason why many of us suffering big losses in trading..

So,i think learning to control our emotions would be a good addition to these methods to help us become a good or even a succesful trader one day.

Study, study and study, if a person want to become successful in trading he need to have good study about the market which can insure his success in trading, but if a person is only depending on his luck for success, then trading can be consider as more risky way than gambling. You need to get the opinion of expert people so that to take a right decision in a right time.

[natsu01]

Patience and knowledge is the main key to be a successful trader of cryptocurrencies, if you don't have these characteristics then there is a chance that you may loss your funds.

[Jombrangs]

 For me the secret of the successful part time traders are they are experience well how to deal to the flow in this kind of business because they are learn from their mistakes and use it us advantage.

[VeteranH]

Joining a community or more is essential for success in Crypto trading. You will get to learn from others and receive signals also. The points you've raised are noted but emphasis should be made on learning and practicing the skills you've learned in Crypto trading. No one becomes and expect or successful over night. Patience is needed, consistency and the passion to surf even in an unfavorable market conditions.

[Red Fish]

The secret is simple - buy at right time and sale at right time. But this will need a lot of experience, so it is very hard to imagine, that first time trader can make profit each month without losses. Therefore trade practise is the only tool to make some stable profit in future.

[whaawh]

The secret is simple - buy at right time and sale at right time. But this will need a lot of experience, so it is very hard to imagine, that first time trader can make profit each month without losses. Therefore trade practise is the only tool to make some stable profit in future.

Everyone knows that earning and losing is the part of business, no one can become milliner within one day, so if you get a miner lose for the sake high profit in future then it does not matter, be strong and have patience to face any of situation bravely, I am sure if you will remain alert while trading, buy at low, hold sell high will help you avoid all kind of risk and lose, so you can get huge profit even at first attempt for trading.

in any case, to begin with, it is necessary to use both practical and theoretical studies at the same time. Thus, a small start-up capital and simultaneous study of information will give a more or less better way of learning how to trade on a crypto exchange.

[wxa7115]

The points the OP makes are very good but I have always believed there are no secrets when it comes to almost anything, what you need to do is to work hard, there are many people that try to become traders but they do not take the time to study books about the subject and as such they fail, if people dedicated as much time to their trading and financial education as they do to watch TV or to check their social media accounts we will have a lot more millionaires in this forum.

[uszaty43]

The only secret to make money in here is just to be a patient guy and do not be an anxious one who want to make $1000 on a daily basis, that is not possible at all

[rainezerr401]

         1. Define your method of transaction and style

The biggest problem for part-time traders is the amount of time used for trading. If you can only spend one hour per day for trading, it will be very difficult to make actual profits. You must have a clear plan. What would you do in an hour? Will you trade in scalping or long-term or mid-term? Asking yourself these question, having a detailed plan for trading, then choose the best method.

         2. Maximize your transaction time

As mentioned, time is the key. Time management is an important skill for traders, especially in the early stages. In addition, you must have a specific plan to improve your trading skills such as review charts, backtest tools, and tracking basic economic information to make a critical analysis. Even in the bear market, maybe all it needed is to sit down and do those things above because you would not trading anyway. Be patience and chances will come.

       3. Improve your specialized knowledge

Because your transaction time is limited, you need to gaining trading knowledge and experiences by reading a book or consult an expert analysis.You need to build scripts for your strategies from different perspectives and always control your emotions when making forecast.

     4. Keep your head cool

You are not a robot and you cannot follow the price chart 24/7. If you miss a chance, lets it be and move on. Trading is long-term and opportunity is one thing that market never lack of.

      5. Join the professional Forex community

Due to the popularity of Forex forums, you will not be alone in trading. Take time to participate in forums and learn from professional traders. They may point out things that have yet known. TraderViet.com is a great community. Definitely check that out!

       6. Clear trading plan

A trading plan can maintain a relaxed and prepared state in trading. As planning ahead, you will likely to have a wider and further vision of the market, wasting less time on monitor price charts. It helps keep you calm and abides by the rules you set. A complete trading plan will help you accumulate more profitable and faster on the way to becoming a professional trader.

That’s all of my secrets, what do you think?

Actually, those people who are just part time traders might have a work in the corporate world and they will only wait for the right price before trading and in that way they can make more good decisions.

[cpkozak]

Successful traders have learned a lot and they have a lot of technical analysis skills. Then they traded the day in robots . This does not take much time and is profitable.

[Dowrich80]

To be a successful part-time trader you have  limited time since you cannot invest all of your time in the numerical analysis so you move on the top new, the only news you study is the news of the cryptocurrency world and how global political policies are changing with respect to quit

[LukeFowler]

very good. I can recommend it to my friends

[paulo013]

Thanks for the idea and also i can apply this to my self. You have said that the part time traders that only used limited time is difficult and this is also my problem, from work i spend 12 hours of work and when i got home so tired, so i need to rush Checking my buy and sell orders. because i need rest earlier from tomorrow's work. i think i need to arrange my plan before going home to do trading faster.

[cryptodigitz]

The amount of time spent on the trade is very important especially to most part time traders, even the time to spent to analyze which of the two possible coins should you go for should be accounted for in the market, not treating the trading as some sort of work that lazy people do. Trading is a business and a full term business of some whales

[miyaka26]

Also, an important thing to include is to have the experience to gain and to learn from it, most of the points that the OP mentioned will be the part of your previous experience stacking it to your skills to make you a successful traders most especially how to deal with your investments as to when are you going to sell and buy, good list for the starters.