One of the Best Weapons in Trading

[CarnagexD]

When I got started into the world of trading it takes a lot of problems because in the world of trades it is hard I thought on the first thing on trading is just predicting the market price of the coin on the first week in the start I always earned a lot of profit but in the next few weeks I lose double on my investment because I'm not mentally stable and this is quite bad because of something problem but still ignore those and I start in trading then I lost on the first trade in the next coming trade becomes stable and after I lost for over two times for the consecutive trades in loss to and I make a double wage that is not a good plan and lose now I'm holding a lot of coins because having a bad trades and it takes a lot of time before I do some changes and to make earnings.

[GreatArkansas]

~snip~

Maybe you were right that patience and discipline are a must in trading but I don't see any reason that this makes become the best weapon. Probably for me the best weapon is "luck" and followed by "skills", once you have this since the start when you are in trading. Well, trading is for you and you may continue your journey in trading. But if you don't, stop, and find another way of earning money because trading is not for you.

Lol. I don't believe in LUCK on trading, especially you are in cryptocurrency trading.
Doing trading needs a skills and you should love it. If you want luck in trading, much better go play a dice game in some casino.
Even a lot of people saying trading is like gambling, well there's some points but still, a skilled trader way greater than lucky person.

[MCobian]

I strongly agree that stop-loss is the best weapon in trading. Because stop-loss can save the capital we have, with stop-loss when
the market suddenly drops in price, the losses we experience can be minimized. Therefore trading without stop-loss is very risky
at all, because we could be threatened with losing large amounts of capital. With stop-loss also avoid we hold coins for a long time.

[SolarWindMiningCompany]

Stop losses are as important as a good entry point and exit point. Once a trader has built enough discipline, it is the life saving move for him. Most times naive traders wait out a trade to pump back before selling (which works sometimes). But history has taught me that accepting my loss early enough at maybe 5% helps me in two ways
1. I restrategize early and find another good reentry point
2. I don't lose majority or all of my funds if the coin tanks 1000%. So technically, on a long run, stop loss trader always come out better

[dunfida]

~snip~

Maybe you were right that patience and discipline are a must in trading but I don't see any reason that this makes become the best weapon. Probably for me the best weapon is "luck" and followed by "skills", once you have this since the start when you are in trading. Well, trading is for you and you may continue your journey in trading. But if you don't, stop, and find another way of earning money because trading is not for you.

Lol. I don't believe in LUCK on trading, especially you are in cryptocurrency trading.
Doing trading needs a skills and you should love it. If you want luck in trading, much better go play a dice game in some casino.
Even a lot of people saying trading is like gambling, well there's some points but still, a skilled trader way greater than lucky person.

People do really have these kind of perceptions and you can differentiate between a true trader than to those who do trade blindly or just purely relying on luck.

SL are one of the best tools specially when you do make active trades but if you do go for long term then it isnt really that needed.There are lots of tools needed for you to

survive this market and not just jumping into the water without any proper preparation.It might not be precise but it is way more better than have no basis at all.

Market is always been unpredictable even how good our analysis are but at least chances on making profit is there and not just relying on intuition or guts.

[CHENIEN]

practically, a lot of experience in business is the best weapon it's because more accomplishment in trading satisfaction is a very useful command to gain more ability in trading, so if you have it you will, actually so many successful business owners start with small and endured until it grew up therefor if you are a newbie in the field of the crypto world you should never mind the pain and stress.

[AakZaki]

Lol. I don't believe in LUCK on trading, especially you are in cryptocurrency trading.
Doing trading needs a skills and you should love it. If you want luck in trading, much better go play a dice game in some casino.
Even a lot of people saying trading is like gambling, well there's some points but still, a skilled trader way greater than lucky person.

What you say is true, friend.  That in trade there is no luck but skill.
Because basically trading requires technical or fundamental analysis.  It is not uncommon for me to say that those who trade but cannot conduct technical or fundamental analysis I say they are gambling traders.

[GreatArkansas]

Lol. I don't believe in LUCK on trading, especially you are in cryptocurrency trading.
(...)

What you say is true, friend.  That in trade there is no luck but skill.
Because basically trading requires technical or fundamental analysis.  It is not uncommon for me to say that those who trade but cannot conduct technical or fundamental analysis I say they are gambling traders.

Thanks for understanding it. That's why I made this thread to help some traders there to use some tools or ways to improve their trading skills. We don't need luck here.
I don't agree with you they are gambling traders, but we can re-phrase that, the term could be more like "wasting money", "giving away money", in short, it is much better to do it on some gambling websites if they want to use the luck on trading.

[Spaffin]

Thanks for understanding it. That's why I made this thread to help some traders there to use some tools or ways to improve their trading skills. We don't need luck here.
I don't agree with you they are gambling traders, but we can re-phrase that, the term could be more like "wasting money", "giving away money", in short, it is much better to do it on some gambling websites if they want to use the luck on trading.

With experience and good knowledge in cryptocurrency trading, each trader will be able to get very good income from their activities.  But the results of this work may vary depending on a combination of certain circumstances, which are quite a lot and quite often on the cryptocurrency market.  it is this circumstance that can bring a trader luck or failure.  therefore, I do not agree too that luck does not exist in trading.  Of course, the Results will depend on What actions a trader will take in the event of a successful set of circumstances on the cryptocurrency market.

[milandres0207]

Using stop-loss I guess was really an effective tool to use when we do trade in the actual platform.
Thanks for these very good tips, Sir. I will keep trying to understand all the information you've posted
here in this section thread.

[TheUltraElite]

Just stop buying when the market is high and keep collecting powerful coin to trade when the price is low wo awareness and knowledge is the best weaphon according to me.

I think is it not right to call powerful or not powerful. It is a question of performance and through bull and bear markets is what defines it.

Knowledge or fundamentals is important but to what extent the market is going to move is somewhat understood from the technicals though I tend to take TA with a 50% grain of salt.

I would not say either of them as a weapon. But different tools that can give you an insight. What is important is that you have a set target to buy and another to sell. Be sure to modify them but dont stretch them to unreacheable proportions. Taking these decisions need the help of data from past charts.

[quality.crypto]

Lol. I don't believe in LUCK on trading, especially you are in cryptocurrency trading.
Doing trading needs a skills and you should love it. If you want luck in trading, much better go play a dice game in some casino.
Even a lot of people saying trading is like gambling, well there's some points but still, a skilled trader way greater than lucky person.

What you say is true, friend.  That in trade there is no luck but skill.
Because basically trading requires technical or fundamental analysis.  It is not uncommon for me to say that those who trade but cannot conduct technical or fundamental analysis I say they are gambling traders.

Trading is a completely different job which the traders need to analyze the market situation, technical analysis and fundamental analysis are always needed in trading. Without these skills, it is impossible to survive in the crypto market. Yes, some traders will always gambler with their money in order to make huge profits.

[rexxarofmoknathal]

Just stop buying when the market is high and keep collecting powerful coin to trade when the price is low wo awareness and knowledge is the best weaphon according to me.

I think is it not right to call powerful or not powerful. It is a question of performance and through bull and bear markets is what defines it.

Knowledge or fundamentals is important but to what extent the market is going to move is somewhat understood from the technicals though I tend to take TA with a 50% grain of salt.

I would not say either of them as a weapon. But different tools that can give you an insight. What is important is that you have a set target to buy and another to sell. Be sure to modify them but dont stretch them to unreacheable proportions. Taking these decisions need the help of data from past charts.

I agree with the above in that there isn't an ultimate weapon one can use to always be successful in trading since it is all dependent on the market highs/lows. What I'd say is of extreme relevance is the ability to read and understand the trends or even spot them and act accordingly to minimise loss. Knowledge thus is by far the best more robust avenue to ensuring success in trading, and all of it is irrespective of the exchange platforms used!

[TheUltraElite]

Trading is a completely different job which the traders need to analyze the market situation, technical analysis and fundamental analysis are always needed in trading.

It is a risk vs reward system of money making. Will not call it a job unless someone is doing it for earning their daily bread, or they are paid to trade on behalf of someone like a financial advisor/investment bankers.

Without these skills, it is impossible to survive in the crypto market.

Its not just crypto market, without skills you wont survive in any sort of job. If you are learning something new, unless you have a passion for it and are able to develop the skills, it will be job that you will hate. Now trading is a bit different here because there is a risk involved and in a job the risk is lesser.

Yes, some traders will always gambler with their money in order to make huge profits.

There is a difference between betting on prices and buying/selling assets. The second one is spot trading and that is less likely to be a gamble if you do your research first. The futures and options market are more of a gamble, though analysis helps.

[shield132]

Knowledge is the power, in everything. Trading isn't just A+b=C and done, it's solved whether the price will go up or down, NO! At the same time trading is an informational war between persons cause those who know what happened recently have a higher chance in it, you have to analyze information on a higher level, determine what specific news happened for example around currencies you trade and this includes every kind of news: related to exchanges, related to market cap, related to specific persons, etc. Every step has an impact on everything. But... At the same time, luck is beneficial and even a mistake can be a lucky step, believe me.

Yes, some traders will always gambler with their money in order to make huge profits.

There is a difference between betting on prices and buying/selling assets. The second one is spot trading and that is less likely to be a gamble if you do your research first. The futures and options market are more of a gamble, though analysis helps.

Trading isn't gambling alone and gambling isn't a synonym of making risks. Without risk, there is no reward. Gambling is pure luck except for some games. Everything has risks but not all of them are connected with gambling. Don't use these sentences wrongly.

[TheUltraElite]

Trading isn't gambling alone

This is correct.

and gambling isn't a synonym of making risks.

This is wrong. Gambling is same as taking a risk whether it be for the aim of a reward or not.

Without risk, there is no reward.

Correct. Which is why people are attracted to it.

Gambling is pure luck except for some games.

We can say that any type of gambling has a luck factor in it. Thats why it is same as taking a risk. A government job is not gambling because it will pay you a fixed amount of money every month whether you slack it or work your ass off.

Everything has risks but not all of them are connected with gambling. Don't use these sentences wrongly.

If you read it again, I was referring to F&O market. That is essentially a type of gambling while Spot trading is not a complete gamble. Maybe you are interpreting it wrongly and I am sure that we are both on the same page.

[Deeshawn]

You are right but no sure tips that guarantee traders only profit, profit and loss works together, maximazing your profit while you minimize your loss is what shows how good are you at what you are doing. But is definitely sure loss will come one day.

[GreatArkansas]

You are right but no sure tips that guarantee traders only profit, profit and loss works together, maximazing your profit while you minimize your loss is what shows how good are you at what you are doing. But is definitely sure loss will come one day.

Absolutely. This thread is only minimizing the loss and also in this way, you can maximize your profits since you still have less loss then possible you can gain more profits since your capital is still high.
Every trader got a loss, you can't be a succesfull if you don't experience such downsides, not everyday is a christmas day.

[Salauddin1994]

One of the best weapons of trading is to follow trading strategies and charts. By following the trading charts the losses are less and the difference between the currencies is understood. It is better to use the indicator to get the right result. However, you can still change the colours and periods of the indicators for analysis in the desktop version.  If you reduce the period you will get fewer signals but most will be correct. In this case, the risk is much lower.

[nelson4lov]

Whenever I get on a new trade, I always try to setup up stop loss orders incase the trade doesn't go in my direction (it doesn't always have to) Using stop loss, I'm able to cut my losses before they start escalating to even bigger amount. The major downside with using stop loss is that you can get stopped out of a trade, lose some percentages and then the market will continue to move in the direction you originally analyzed it to go. It's painful but then very helpful especially if you can't monitor your trades at all times.