Want to achieve success in trading?

[Coin-Desk]

Trading is not easy at all. It is very difficult and technical work. It is difficult to achieve success in trading. I am giving some tips which hope to work better in trading. Hopefully these will be successful in trading if you follow them.

Set your goal first
Do not invest more than you can afford
Be patient
Use prudent leverage
Stay aware

[goaldigger]

There are numerous posts here which has the same thought but this one is lazy. OP didnt even explain it further. Seems like he gets one tip per post then make some topic here.

Anyway, being brave is what you need to start trading. Your guts will become your fuel to try risking your money and end up learning. After this you will realize that the loss you gain from trying is now paying. Red will become green and giving more usefull tips after.

[numanoid]

Do not invest more than you can afford

Why there is don't invest in trading? Trading doesn't need any investment. Trading isn't investment, which you only need to wait until your investment growing.

And don't forget, trading isn't a way to rich quick

[omonuyak]

Trading is not easy at all. It is very difficult and technical work. It is difficult to achieve success in trading. I am giving some tips which hope to work better in trading. Hopefully these will be successful in trading if you follow them.

Set your goal first
Do not invest more than you can afford
Be patient
Use prudent leverage
Stay aware

All what you listed doesn’t make one a successful traders,it is just a careful’s tips! I will advise anyone that wants to become a successful traders to developed he or her skills and become a professional in trading as only the professionals tradings in both forex,stocks, commodities and cryptocurrency actually do makes money from the market.

[DoublerHunter]

Well, those are not always the things you have to adapt if you want to be a successful trader. I understand the point you have since you considered trading as an investment. But technically it's not, it is a separate category. Investing and trading are two factors you cannot compare that much. If you want to be successful in trading, guts and risks are always there. You have to be hurt before becoming a successful one. Experience is always the best teacher. Being naive is really not a good thing. You have to learn and eat more food first!

[MinMan]

Trading is not easy at all. It is very difficult and technical work. It is difficult to achieve success in trading. I am giving some tips which hope to work better in trading. Hopefully these will be successful in trading if you follow them.

Set your goal first
Do not invest more than you can afford
Be patient
Use prudent leverage
Stay aware

Uuhmm… I think being patient has to do with when you're not a day trader and just someone who likes to hodl? Cause hodl'ers are the ones who have to do their analysis earlier on and invest if there is any chance for the market price to go up. They invest and then they wait and have patience to make profit in the near future. But as a day trader you just have to be smart and fast and know the right time to pull which key so that you can make profits and not losses. I do like your first point… people who are trading should always have their set goals at first and fight for that. Cause when you don't have any goals, you wouldn't have anything to focus on, but just anything that comes your way and that means you're hardly going to hit a profit. Stop losses are important as well.

[Questat]

Do not invest more than you can afford

Why there is don't invest in trading? Trading doesn't need any investment. Trading isn't investment, which you only need to wait until your investment growing.

And don't forget, trading isn't a way to rich quick

What probably OP meant is to invest money as your capital in trading, that amount is the total amount you will use in your entire trading journey, so if you loss it, your journey is over and it's necessary to invest what you can afford only so you life would not stop there when you loss.

[maldini]

To become a successful trader is only one way, learning, learning and learning. A successful trader has gone through a lot of problems in learning, well in that problem he gets valuable experience, so when you get experience that means you have the ability to go up one level and do it as much as possible until your experience is equivalent to a professional trader.

And everything you mentioned above is just a tip on trading, not a tips for becoming a successful trader.

[arbiter5]

Wow! Thanks Coin-Desk! You pretty much reposted what people have been saying about trading pretty much everywhere! Appreciate it a lot! +420!

[CryptoMobster]

I cannot take this post seriously... Where is the word education? You cannot be successful without actually knowing...

Lazy.

[bitzizzix]

Very thin if you expect success in trading, because your trade chooses coins that have good potential for you to buy and you will sell them to replace other coins and that is the trader by selecting and sorting coins to trade for profit and in my opinion it will not make You are successful.
if you invest in one or a few coins to invest primarily in bitcoin and make long-term investments in my opinion it can make you successful.

[avikz]

Trading is not easy at all. It is very difficult and technical work. It is difficult to achieve success in trading. I am giving some tips which hope to work better in trading. Hopefully these will be successful in trading if you follow them.

Set your goal first
Do not invest more than you can afford
Be patient
Use prudent leverage
Stay aware

These are just few psychological quotients mentioned here! In reality, it takes much more to be successful in trading! It required education, it requires strategy, it requires interest in current market news! Where are those??

I would rather suggest everyone to understand various strategies of trading that professional traders follow. There are lots of YouTube channels that anyone can follow to learn about those! Make use of those contents!

Please update your thread with some good videos about trading. Let me start,

https://youtu.be/321OSwhC1Ok
https://youtu.be/co1j-Er0Gm4

There are hundreds more but these two should help anyone to start!

[Slow death]

I cannot take this post seriously... Where is the word education? You cannot be successful without actually knowing...

Lazy.

 


OP, have you done day trade? and if so, what is your profit and losses? because most of the times it is better to talk about your own experience and give advice based on your own experience

[playboy654]

Trading is not easy at all. It is very difficult and technical work. It is difficult to achieve success in trading. I am giving some tips which hope to work better in trading. Hopefully these will be successful in trading if you follow them.

Set your goal first
Do not invest more than you can afford
Be patient
Use prudent leverage
Stay aware

Don't threat the beginners by saying it is difficult,actually it is pretty easy when we understand it.

I am occasional trader and even making money from doing trading with less efforts.

But need to understand what we are doing or we will lose at all.

[Jating]

How about having an entry and exit plan?

It work wonders for me, I don't experience the 'regret' factor, I mean when I put up my exit plan and if it was satisfied, then I quickly get out and never look back.

[Reid]

The last one will be the hardest part.

Staying aware.
It needs a lot of monitoring since the wave of market starts to move everywhere.
Just looking at bitcoin now will make you feel uncomfortable every hour.
Hundreds of dollar is being pumped or dumped in just a manner of time and also there is the possibility of a larger scale of change anytime.

Those kind of movements can make profits or also loss with a bad choice in selling and buying. That is why it becomes a daily routine for me to check the prices of every coin I hold in my portfolio.

[Malamok101]

Trading is not easy at all. It is very difficult and technical work. It is difficult to achieve success in trading. I am giving some tips which hope to work better in trading. Hopefully these will be successful in trading if you follow them.

Set your goal first
Do not invest more than you can afford
Be patient
Use prudent leverage
Stay aware

Good advice and strategy but we can't stop the market flows because its also hard to start in trading this is very risky ways to earn money in crypto should not stop to hold for long term profit.

[The Cryptovator]

All the points mentioned by OP has been discussed on the forum multiple times. I can't disagree with all of them, but most important point is "patience" during crypto-currency trading. Sometimes I have losed due to lack of patience. And that's why I believe we need increase our patience. Also we need learn market analysis, so we might get a good profits. It's not fully true the we will gain always on trading, we should accept it and move on.

[Oilacris]

Trading is not easy at all. It is very difficult and technical work. It is difficult to achieve success in trading. I am giving some tips which hope to work better in trading. Hopefully these will be successful in trading if you follow them.

Set your goal first
Do not invest more than you can afford
Be patient
Use prudent leverage
Stay aware

Basic things!

Trading is never been easy that's why most newbies are being wreck or blown up their account
due on believing that they can easily make themselves profitable and soon they do realize when its already late.

[hurry_hore]

This subject is not suitable with the content, those are not tips to be successful trader but tips for a beginner to trade safely. More explanation can be easily found such as in this article: https://www.reddit.com/r/CryptoCurrencies/comments/c2dpog/beginner_trader_this_is_trading_tips_from_cindx/