|
hahahafr
|
 |
July 10, 2019, 07:52:28 PM |
|
Patience is the character that i believe almost every trader needs to have or else you will always get emotional in your trading positions and that could make you lose huge amount of money. Just recently, when Bitcoin rose to about $13k i wanted to accumulate further but my instinct kept telling me it's going to come further down and luckily enough it came down. this is why patience is very important when it comes to investing into cryptocurrencies.
|
|
|
|
|
|
|
|
|
|
|
TalkImg was created especially for hosting images on bitcointalk.org: try it next time you want to post an image
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
|
chriseasan
Copper Member
Newbie
 Offline
Activity: 224
Merit: 0
|
|
July 10, 2019, 08:16:09 PM |
|
You should always be patient and you cannot get away from it. Especially in trading, being calm and patient is 50 percent of success. Even if you would do a mistake, you can always learn from it and keep moving towards your goal.
|
|
|
|
|
|
gabbie2010
|
|
July 10, 2019, 10:04:59 PM |
|
Lack of patience while trading is an experience that I personally passed through which lead to losing some of my trades which later turns Green,
honestly patience kills emotions and to be a successful trader, for instance with respect to hodling bitcoin a trader that hurriedly sold the coin while the price had not peaked will lose some profit having impatiently waited for the perfect and right time to sell these are problems that are difficult to control especially FUD.
|
|
|
|
|
CoinsOrDie
|
|
July 10, 2019, 10:46:07 PM |
|
Experience and patience makes the best and quality traders in cryptocurrency. While in the journey you will make several mistakes or even from mirroring trades from mentors and experts but those moments are time to be patient and learn to horn your skills. Experience is very important, most times, you cant build up all these trade skills form e-books resources platforms but form practice.
|
|
|
|
Marble777
Member
Offline
Activity: 736
Merit: 11
|
|
July 11, 2019, 03:30:09 AM |
|
patience is an important role in trading, if you cannot control your emotions when trading you will quickly lose money. pay attention to the price movements of your coins and discard them when you see an opportunity.
|
|
|
|
|
Ridwan Fauzi
|
|
July 11, 2019, 04:01:50 AM |
|
I wonted to use my experience as a lesson when I choose a trade as my income.
An analyst, greedy nature, a patience, decide to buy and sell and choose a time prime all these thing need an experience.
I have to make an evaluation in all my trade because it is really needed in order to I can entry the market at the right time.
These it all, trading and investing has a risky but I can passed the risk with my experience.
|
|
|
|
|
Kezacky
Member
Offline
Activity: 743
Merit: 10
https://www.epsiloan.xyz
|
|
July 11, 2019, 06:41:28 AM |
|
Everything thing in crypto requires been patient and not trading alone. Personally, I value been observant and analysing frequently in terms of trading to been patient. I don't think trading requires that too much since you will have to make a decision within some short periods in order to make good profits
and that also depends on the coins you trade. many things we need to pay attention to in trading, especially emotions. this often makes us lose money quickly because we cannot control our emotions. but it is true that patience is important in trading. |
|
|
|
|
wack slacker
|
|
July 11, 2019, 06:54:18 AM |
|
Many people say when we trade, what is needed is patience and discipline in our own strategy. I think all the methods and strategies used are good and profitable, but if we are impatient, it can lead to losses
When I look at Bitcoin and EGT I feel a bit optimistic. I lost everything in 2018. My investment strategy now is to keep altcoin top 10 only and expect them to grow steadily even slowly. I learned how to cut losses early to buy back at a better price than to sink in a downtrend. Even if there is less loss than losing everything. |
|
|
|
|
GGmith
Jr. Member
Offline
Activity: 394
Merit: 1
|
|
July 11, 2019, 07:09:21 AM |
|
Your topic is apt. For you to be a trader, all emotions must be killed this is because if you don't kill emotions while trading, it could affect you negatively health wise. You need patience, especially when the trading is going against you with patience you will win but when emotion set in, you could sell off and sell at a loss.
yes you are right, which I often experience in trading cannot control emotions, this is what makes me lose. but this has also made me gain new experiences in trading, so patience is indeed an important role, besides that I also think we are not only focused on one coin, but with a few other coins if you want to make a lot of profit. |
|
|
|
|
gurunanakji777
Full Member
Offline
Activity: 2086
Merit: 100
Chainjoes.com
|
|
July 11, 2019, 08:38:57 AM |
|
We all have different different strategy to trade or buying coins for long-term. In my opinion crypto trading is altogether different from forex trading. I noticed forex trading techniques does not work in crypto market. Study yourself about the crypto market and make your own strategy that works for you & always remain calm in panic selling. Yes trading is risky with less knowledge & We all improve our trading skillset by our past mistakes and most important thing I learn apart from patience is always do partial buying when when market drops. Do not invest all your capital atonce.
|
|
|
|
Torps1
Member
Offline
Activity: 574
Merit: 12
Kuvacash.com
|
|
July 11, 2019, 08:51:45 AM |
|
That's correct,
If one is able to exercise patience and put emotions under control, then the rest work will be as easy as reading ABCD
Many traders, both in cryptocurrency and Forex need to learn about patience and controlling their emotions because they are also as important as any analysis and strategy one may use.
|
|
|
|
|
|
tbterryboy
|
|
July 11, 2019, 10:35:43 AM |
|
this is my experience...
as we know Crypto Market is very volatile and very unexpected, more because of its anonymity. Trading is also risk-related, so you succeed as a trader, you have to have an open mind about trading, and you can't do fundamental analysis like you do for forex, because the opportunities are so low that we know when there will be big purchases or sales. However, trading can be very useful if you trade one day and focus on long-term investments too.
when you think the market has reached its lowest point and you can do simple technical analysis and find support or resistance - this will not give you a perfect picture but you can still find the mindset of traders in the past with this tool and speculate.
Balance and make a good plan before making a decision, it's about how patience will play a big role in this market, always doing research on market movements with every coin you will drive, buying at the lowest point and selling when you see good opportunities, always calm when analyzing your assets. and one is not greedy. if you see an opportunity, just throw it away!
How about you? I want to learn from your experience too.
Anyone who is investing and trading cryptocurrency, whether for a long term or on a daily basis should have plans. If you don’t have plans then you’re just there to waste your time cause you’re not even going to achieve anything, and will be running around in circle. You should know that the market can go against you at anytime and also have it in mind how much you can afford to lose before you call it a quit, or how much you plan on making as a profit. That way you will know what you want and then work on purpose and once you have accomplished that, you can decide to wait and see whether more profit will add on to what you have got or not. |
|
|
|
|
HK88
Jr. Member
Offline
Activity: 193
Merit: 3
|
|
July 11, 2019, 06:17:57 PM |
|
the first thing to remember is that trading is a very high risk, if you don't really understand this, you will quickly lose money and vice versa, you have gained new experience so you begin to understand that patience is the key to success in trading.
|
|
|
|
|
|
Ucy
|
|
July 11, 2019, 06:27:32 PM |
|
I agree with you.
Cryptocurrency trading is as risky as any other investment though.
You made good points... I like the part about buying low, selling high and being patient/disciplined.
Combining day and long-term trading is another good point. I usually leave a part of my bitcoin long term and day trade with other part...so that I have something to console myself with when the bull moves up sharply against my plan
|
|
|
|
|
|
axel2078
|
|
July 11, 2019, 09:17:22 PM |
|
That one of the things about trading. If you can master patience, then experience will be yours there is no two ways about it. Most people losses because of lack of patience. Another thing trading teaches is the ability to be contented, if one also masters this, he will be a good trader too. This being contented is all about not being greedy and exiting the market with the little acquired profit.
|
|
|
|
BeginToMine
Full Member
Offline
Activity: 434
Merit: 101
https://www.payaccept.net/
|
|
July 11, 2019, 09:22:51 PM |
|
I have tried trading and one virtue I have learnt is that you should be patient and most importantly, you should know when to move on, sure I have sold some coins that turned out to be very valuable almost immediately I switched out of impatience and sometimes the reverse has been the case. But one thing that is constant is that your should never fall for FOMO, Always do your due research before investing in any coin.
|
|
|
|
|
bitc0000
|
|
July 11, 2019, 10:23:50 PM |
|
That's true and certianly what trading teaches anyone who is ready. By learning patience, we will know when to enter a trade correctly as well as being patient for our target to hit so far the analysis was correct. Before getting involved with trading, it is always wise to know everything about it first, if not the result might be catastrophic. In addition, to learn everything about trading, comes with its own patience.
|
|
|
|
|
passwordnow
|
|
July 11, 2019, 10:43:14 PM |
|
Trading for few times and focusing on long term investment such as holding is teaching me patience too. I'm not that very patient when it comes to the flow of my assets but in crypto things became different. I'm used to the movement of the market and understood that volatility sure is high risk but is very rewarding. This isn't for everyone because there are investors that can't take the volatility of the crypto market and they are good with slow motion markets.
|
| ..Stake.com.. | | | ▄████████████████████████████████████▄
██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄
██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████
██ ██████████ ██ ██ ██████████ ██ ▀██▀
██ ██ ██ ██████ ██ ██ ██ ██ ██
██ ██████ ██ █████ ███ ██████ ██ ████▄ ██
██ █████ ███ ████ ████ █████ ███ ████████
██ ████ ████ ██████████ ████ ████ ████▀
██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██
██ ▀▀▀▀▀▀▀▀▀▀ ██
▀█████████▀ ▄████████████▄ ▀█████████▀
▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄
██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄
█ ▄▀▄ █▀▀█▀▄▄
█ █▀█ █ ▐ ▐▌
█ ▄██▄ █ ▌ █
█ ▄██████▄ █ ▌ ▐▌
█ ██████████ █ ▐ █
█ ▐██████████▌ █ ▐ ▐▌
█ ▀▀██████▀▀ █ ▌ █
█ ▄▄▄██▄▄▄ █ ▌▐▌
█ █▐ █
█ █▐▐▌
█ █▐█
▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄
▄██▀▀▀▀█████▀▀▀▀██▄
▄█▀ ▐█▌ ▀█▄
██ ▐█▌ ██
████▄ ▄█████▄ ▄████
████████▄███████████▄████████
███▀ █████████████ ▀███
██ ███████████ ██
▀█▄ █████████ ▄█▀
▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀
▀███████ ███████▀
▀█████▄ ▄█████▀
▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
|
|
|
|
|
Mysteryla
Jr. Member
Offline
Activity: 420
Merit: 3
|
|
July 11, 2019, 11:48:32 PM |
|
If you remove patience out of a trader, then you have introduced failure to him. Patience is required to be a good trader and that is part of what will determine how successful you will be.
You will make a lot if mistakes, but if you can imbibe such attribute, your mistakes will be the laser to climb in order to become successful.
|
|
|
|
|
|
