Things required for trading apart from investment?

[maarx]

Many do say that they lost huge amount on trading. The best i can suggest them is to have more patience and confidence besides investment if one pitches into trading or already into trading. More patience and confidence will make one think wisely and take better decision. What are your thoughts and advises on the same to traders?

[Oilacris]

Many do say that they lost huge amount on trading. The best i can suggest them is to have more patience and confidence besides investment if one pitches into trading or already into trading. More patience and confidence will make one think wisely and take better decision. What are your thoughts and advises on the same to traders?

Common and been repeatedly said for how many times but this is indeed effective but the fact or in reality this is the hardest part to be done when you are caught in the middle of the situation.Its easy for someone to say to you about being more patient and confident but as the day goes by you are struggling on the stress on what the market gives to your which there are really times that you cant really think off clearly.

[1Referee]

What are your thoughts and advises on the same to traders?

My thoughts? These traders should quit (probably best option) or invest some funds in a bot that will do the trading for them.

People are horrible traders in general and shouldn't mess with actively fluctuating markets. Bots allow people to not have their emotions form an obstacle, and also trade and think much faster. It's not for nothing that the market (especially in the current year) has been flooded with bots, and they dominate the market with iron fist right now. Only suckers trade manually, especially when it comes to day trading.

Important note; in case people do buy a bot, have a programmer at least check the code to see if there is anything nasty the seller of the bot left for you. API key attacks happen from time to time so it's definitely something to take seriously.

[pant-79]

Patience and confidence are good advice, but the most important advice, in my opinion is:
1. Study all the necessary information. This is both technical analysis and candlestick analysis.
2. Draw up a plan for buying and selling before you start trading. And you need to follow it clearly.
3. Be aware of the main news of the crypto world.
Compliance with these rules will minimize the situation when the trader is forced to simply rely on his patience.

[CodyAlfaridzi]

Many do say that they lost huge amount on trading. The best i can suggest them is to have more patience and confidence besides investment if one pitches into trading or already into trading. More patience and confidence will make one think wisely and take better decision. What are your thoughts and advises on the same to traders?

Patience and confidence can lead to worse condition if you don't know what you're doing. The most important thing in trading in knowledge. A lot of people (including me) jump into trading without proper learning. They become so excited, feeling they're genius, goes straight to exchange, start trading only to lose money not long after. I emphasize: learn and gain knowledge.

[Johnyz]

Patience is just one way of making your trading/investing successful but of course you must go beyond that. Trading requires a lot of skills and strategies so you must also learn how to read charts and how to use indicators, this can be your great weapon in this market.

[Cactushrt]

Patience is the key to be a succesful trader but you must do a research before purchasing your token because there are lot of scam coins.

[abruchifid]

There are no guarantees that profits can be make, only a level of high probability, patience is helps increase your chances. trading require a lot of skills

[Grayy]

Patience depends on the type of trader. A long term trader needs every patience  in the world to succeed while a day trader would like to take opportunities quickly and restart at different entry points.

[katri]

I don't use short trading, its risky and dangerous. I am more confident for long investment. This may give me huge profit in the future. Further, volatility is annoying, if you didn't ride good surely you will be fall to the traps.

[Bubblestonemax]

I would advice trader to write down all the mistakes they made before and put all of them into consideration for amendment. Kill greed off, always trade what you can afford to lose, do not use emotions to trade as well.

Get yourself acquainted with happenings around Cryptocurrency on a daily basis and trust your instincts

[hugeblack]

More patience and confidence will make one think wisely and take better decision.

When you talk about patience and trust, you talk about emotions; emotions are not easy to control, especially when it comes to profit and loss.

My advice is that you have to have a solid plan and strict rules before you trade so you will not sell unless you reach a certain point as well as buy.
Joining the market solely for profit or fluctuating prices is a failed plan, and you will lose your money soon. Also, achieving gains does not require the amount to rise to $ 10,000 or 100,000.

Play smartly or leave the market

[jacee]

More patience and confidence will make one think wisely and take better decision.

When you talk about patience and trust, you talk about emotions; emotions are not easy to control, especially when it comes to profit and loss.

All these that were mentioned are actually acquainted with knowledge. Someone with enough knowledge in trading can easily gain confidence that his move will not give a negative turn around and the patience to wait for the right time to execute his move. He/she also will have no trouble in setting aside his/her emotions. That's why professional traders do well with their trades.

[1NV3ST0NM3]

Many do say that they lost huge amount on trading. The best i can suggest them is to have more patience and confidence besides investment if one pitches into trading or already into trading. More patience and confidence will make one think wisely and take better decision. What are your thoughts and advises on the same to traders?

A very important point I would like to mention is that crypto trading is not everyone’s cup of tea. You should consider the amount of time you need to spend along with the amount of course. Crypto trading is not done on daily basis, but on hourly basis. You should be aware of the changes taking place in the market every minute. Then you also need to have some experience in order to be successful.

[fibrolit]

Many do say that they lost huge amount on trading. The best i can suggest them is to have more patience and confidence besides investment if one pitches into trading or already into trading. More patience and confidence will make one think wisely and take better decision. What are your thoughts and advises on the same to traders?

If you are not new to cryptotrading,it is better to identify several trading pairs in which you will participate constantly. For me personally it relieves headaches,I'm always sure my tokens will ever come back with a profit. Naturally it is better to have a lot of such pairs to trade,rather than one or two.

[skish85]

The rules of money management are one of the basic principles that traders must include in their trading plan. Only in this case they can effectively protect their capital in each specific transaction. One aspect of this rule is the risk / reward ratio.

[msk19]

One of the distinguishing features of successful traders is that they create trading systems that match their personality. What works for them may not work for you. But that does not mean that you can not learn their trading strategies.

[taiwww]

Many do say that they lost huge amount on trading. The best i can suggest them is to have more patience and confidence besides investment if one pitches into trading or already into trading. More patience and confidence will make one think wisely and take better decision. What are your thoughts and advises on the same to traders?

Yeah the usual thing. Everyone keeps sharing that they need patience and confidence but to be honest I have observed that people dont keep their words by themselves and go on loosing money. Know how? Because they loose things in very short period of time and as soon as they see the market is dropping hard they will loose their own control over the crypto trades and may end up loosing money over the time. Believe me, these could be the same people who talk about the patience and confidence. Honestly speaking, how many people do you really see successful at the trades they make? May be less than couple of thousands as whole because only few of them can master themselves in trading skills.

[Binugon]

Many do say that they lost huge amount on trading. The best i can suggest them is to have more patience and confidence besides investment if one pitches into trading or already into trading. More patience and confidence will make one think wisely and take better decision. What are your thoughts and advises on the same to traders?

Bitcoin trading is very different from forex trading, in forex trading we only know the terms long and short but trading only knows sell and buy, so don't be forced, to trade on a positive market for example we buy cheap prices and sell at prices that are slightly more expensive than the purchase price caused by market influence.

[Knabu]

The absolute most important advice i would ever give to a new trader is practicing good risk-to-reward-management. It may be not as sexy as learning how to read candles/analyze indicators etc, but taking good R:R-trades is one of the most important aspects of trading. Yet it doesnt get discussed as much which boggles my mind.