Trading with goal setting

[nydiacaskey01]

I remember someone saying "Failure to plan for is like planning to fail" or something like that. I would understand if its a long term investment but even if its a long term investment, you still set a goal like how many years you plan to hold on to it, unlike short term trading or day trading you set a goal by percentage and it should be an attainable one. 

[xSkylarx]

Without a goal how will you benefit to what you've been doing. On trading, goal is really a must or a target profit. You can't predict the market, it can go up or down anytime. Don't dream for such an unrealistic profit. Speculations doesn't happen always or it is just a hype imo.

[LimLims]

Cryptocurrency is really unpredictable. It can go to peak at this moment and drops $4,000 tomorrow. It can also be stagnant for the whole month or so. In this i learned that you shouldnt speculate much about its price bit rather put some goal price or margin where you sell it whether you like it or not. If you dont needed the money yet then its better because you can wait longer than others. With this you cant avoid greediness and earning depending on your goal price.

The OP is from June.
But since then a lot of things have changed.
But whatever the OP has said, is 100% correct.
While trading it's really unpredictable whether the price will go high or down. So it's always better to play a safe game.
If you want my advice,  then i can say that,  always go for stable coins.
They will really help you to prevent from losses.

[BitcoinTurk]

The most important thing when trading is to set a goal for ourselves. If we look at the movements of many investors, we will come to the conclusion that users who do not have any targets or who do not close positions despite their current target as the profit margin increases are always harming. In particular, if we look at our own transactions, we will come to the conclusion that all of our failed trades are in fact our target. For this reason, I think that there should be specific targets for every transaction and every investment and I definitely set target sales regions for myself in all of my trades.

[fabiola!]

price can be unpredictable because many factors influence price and many have different views and obviously whales play a lot with, we should be smart enough to know when to exit and take your profits and save our profits and not to risk a lot in hopes

[barbara44]

Without a goal how will you benefit to what you've been doing. On trading, goal is really a must or a target profit. You can't predict the market, it can go up or down anytime. Don't dream for such an unrealistic profit. Speculations doesn't happen always or it is just a hype imo.

You are very right, Everyone sure have a goal, without a goal, there is no way they would have even take step to put in money for investment, we all have a goal in common, and the goal is to make profit, but making that goal a realistic one is usually the problem with people and this is one thing that I have also learn to overcome through several experiences that I have had in the little time I have spent in this cryptocurrency industry.

Many investors are overzealous about the system that they forget to face reality sometimes, and it is when they are able to face reality that they can set their goal right. One thing you mentioned that struck my mind is dreaming of unrealistic profit, and I think it is greed that usually cause this, many people wants to sow little and earn big, it is just like trying to reap where one does not sow.

[marine4u]

Setting a fixed target in trading is a very good thing for investors, it helps investors have a clear orientation and a profit-taking point or cut loss to preserve profits. The market is recovering so investors should have a strategy to make a profit for themselves.

[yvesp110]

price can be unpredictable because many factors influence price and many have different views and obviously whales play a lot with, we should be smart enough to know when to exit and take your profits and save our profits and not to risk a lot in hopes

When it comes to investment in crypto, you should never expect a steady rise or growth in the value of your assets. I believe that it is both risky and lucrative. It is more about patience and believe when you have put your money in Bitcoin. Altcoins are more lucrative and could give back good returns. It is always good to have a straight plan throughout the course of your investment.

[Kasabus]

price can be unpredictable because many factors influence price and many have different views and obviously whales play a lot with, we should be smart enough to know when to exit and take your profits and save our profits and not to risk a lot in hopes

When it comes to investment in crypto, you should never expect a steady rise or growth in the value of your assets. I believe that it is both risky and lucrative. It is more about patience and believe when you have put your money in Bitcoin. Altcoins are more lucrative and could give back good returns. It is always good to have a straight plan throughout the course of your investment.

Have our plans work well? It maybe is not and we need to be versatile, and to look at another strategy that can comply with our goals.
I believe there is a perfect time for us individually and yet surprising. But of course, we should never be excited cause we don't even know when it comes and to be prepared at all times is something we must do.

[TheBusstop]

it is a business of patience. you don;t need to rush the market. it take time. anyone that can handle FOMO Will definitely survived this crypto business. twice i have fallen for it. buying a high price in NEO and eth last month.  i wonder when i will recover from such money.

[JohnBitCo]

it is a business of patience. you don;t need to rush the market. it take time. anyone that can handle FOMO Will definitely survived this crypto business. twice i have fallen for it. buying a high price in NEO and eth last month.  i wonder when i will recover from such money.

The best goal for crypto trading is not to sell the coins in a loss. There are lot of times when altcoins and bitcoins dump a lot and we get nervous and less everything in a loss. This is the biggest mistake any trader can make.

[bitbunnny]

I think that it's better not to start trading unless you have some goal that should be realistic and adjusted to your limits.
If you have a goal, you have the focus and it's easier to achieve what you want but all the time you should be aware of risk and you have to listen to the market and what is happening so that you can adjust. And always have enough patience and cool head, that is very important.

[Oceat]

I think most traders have their own goal settings in the first place some of us do trades because they want to trade because the price was enough already for them to earn the profit, while some do it because they have to since the market is in the right setting to take some profit. And i think that would be the difference between their goals.

[creeps]

it is a business of patience. you don;t need to rush the market. it take time. anyone that can handle FOMO Will definitely survived this crypto business. twice i have fallen for it. buying a high price in NEO and eth last month.  i wonder when i will recover from such money.

The best goal for crypto trading is not to sell the coins in a loss. There are lot of times when altcoins and bitcoins dump a lot and we get nervous and less everything in a loss. This is the biggest mistake any trader can make.

Not unless the price hits your target cut loss, then you have to sell on that level. The goal in trading is to continue making profit despite of the trend, and despite of all the mistakes that we had on our past trading. Goal is very important because it gives you the direction on where to go, trading will be more effectiven if you focus on your goal.

[Finestream]

I think that it's better not to start trading unless you have some goal that should be realistic and adjusted to your limits.
If you have a goal, you have the focus and it's easier to achieve what you want but all the time you should be aware of risk and you have to listen to the market and what is happening so that you can adjust. And always have enough patience and cool head, that is very important.

Right.It's good to have a goal first that is attainable before starting to trade so you will be more focused and knows how to make trading end up profitable.While others just keep on holding their bitcoins for more longer years,i suggest that you trade your coins when the market shows very positive price to trade and then buy coins again at its favorable price.

[bitgolden]

Following that goal, I can tell you can do it in just a short period of time.
BTC had an increase of more than 100% already and that's less than a month, so I think 20 to 40 increase from the current price now will happen this year.
With that method, that will not make you greedy, mostly if fail if we always aim for a higher price without specific target, that's the kind of mistake I made in the past and I also like to correct it this time.

I think I am still making that mistake even with this current price, sometimes when I trade and I see that bitcoin has climbed $1k increase, I still continue to hold for more profit because I don’t have any goal for my trade which I think I need to start abiding by, because of this lack of goal, I have lost lots of opportunity to make profit within a very short period of time, and you are very right, this is usually caused by greed because we want that investment of ours to have a big catch before we remove it but we forget that the volatility of the market makes the movement of bitcoin and any other cryptocurrency really unpredictable, and no matter the level of knowledge that we have about analysis tools, we may still never get it right.

[akram143]

Cryptocurrency is really unpredictable. It can go to peak at this moment and drops $4,000 tomorrow. It can also be stagnant for the whole month or so. In this i learned that you shouldnt speculate much about its price bit rather put some goal price or margin where you sell it whether you like it or not. If you dont needed the money yet then its better because you can wait longer than others. With this you cant avoid greediness and earning depending on your goal price.

I think if you are go with some goals then it will definitely not successful in most of the time because it is like emotional trading once you need the money in your trading then you will definitely made some mistakes so I think sending the gold is ok but don't force yourself to achieve that.