What do you need to become a successful trader?

[Assface16678]

Don't be carried away based on what people do say about trading because many of these people don't even trade but they claimed that they are traders. I have a friend who who is good in analysis of the but he will never risk his own money for trading but he do advise people on what to do and what not to do while trading crypto, forex and others.

Perhaps you friend has a virtual account only and he's not confident that his knowledge is enough. Thus, it's better to just learn trading by your own rather than listening for an advice from people who haven't experienced dealing in a real market. Trading composes of a lot of business people that are looking for an opportunity from novice in this field.

Indeed, giving advice without real experience seems not reliable. He should apply first his advices on his own journey in trading before thinking others on how to trade safely.

To be a successful trader (regardless which market you choose) requires knowledge and experience. You cant master it overnight but as time goes by you're going to improve and thats your stepping stone to succeed.

Many people are strugglings in trading because they always lose their trades and cause of not gaining of profit, today there are a lot of sources in the market how to become a good trader, and that is good for us because the knowledge is not limited in trading, most of the time when you search in the internet they likely suggesting about knowing about trading, this is the most important in trading you must know what kind of transaction do you want to do if long term or short term because in the short term you are earning money or trading for daily it depends on the coin where you invest if this gives you profit bitcoin is not suitable for short term trading better to use the altcoins, next is the long term trading that takes a lot of time to earn money but it gives a lot of money if you win the investment. You must trust your investment because sometimes they are afraid if they see they are losing their money and withdraw it that can cause of loss of income, trading is full of risk and once you start taking risk better, you perform until the end.

[The-Devil]

To be a successful Trader I think I just need experience. Because experience can make a person successful. So the more I trade, the more my experience will grow. So you have to trade more. It doesn't matter whether the trade is a profit or a loss. Learn to trade by trading. I think that is how the experience should go. So I just need good experience to be a good trader.

[Blackdeath]

All you need ro become a successful trader is perseverance and patience because a lot of people who started in trading don't take long due to risk and impatience, that is why even you are experiencing a difficult time in trading you should continue it and learn how to control your emotions to avoid panic selling.

[mojtaba56k]

You have to practice a working pattern for you and rely on it.

[crisanto01]

Of course, you will be needing to bring a lot of patience, a lot of knowledge, a lot of perseverance, determined to do what you need to do, there are no successful traders who made it instant, they spend a lot of their time, sacrifice their sleep and they are doing their best and effort to make their dream come true.

[Wend]

Ill think they answer it already on how to become a successful traders.
And all of the comment in here are all true, So if who are now in trading must better to read those comments in this thread
It has been big help for a newbie in trading if they want to become a successful in trading.

I will add more to become a successful in trading, Be patient and be smart always, Dont be affect for what you loss make it right in the future.

[Pinkris128]

A lot of people already have become a successful trader because they are dedicated to become one, so i think the first thing to be a successful trader is you know the movement of the market charts and it's volumes, and you also need to have patience and to control your emotions to avoid panic selling.

[drlukacs]

What i want to know is how can i become a successful trader and make money for the rest of my life. Should i learn technical analysis or harmonic patterns......
And which is the best market to trade for a beginner.

Yes, you should first learn the knowledge needed to trade. You should carefully study Price Action and indicators such as Stochastic, RSI, EMA, Fibonacci. After that, when you have enough knowledge, start listening to the advice of some good traders on capital management. You should then use $ 100 or $ 200 to start trying with your methods. In particular, at this stage you will realize something new or better than theory, but if you want to succeed in trading, you should be disciplined. It will determine how good you are in 1 trading year.

[Savemore]

For us to become a successful trader we should overcome the laziness that we have. In order to overcome the laziness we need to be a little greed. Desires are good because it motivates us to get what we want but not too much greed because it is bad and it can lead to lose. If we have a little greed then our mind will think on what should we do in order to become a successful adn profitable trader.

[Kevondo]

Don't be carried away based on what people do say about trading because many of these people don't even trade but they claimed that they are traders. I have a friend who who is good in analysis of the but he will never risk his own money for trading but he do advise people on what to do and what not to do while trading crypto, forex and others.

Perhaps you friend has a virtual account only and he's not confident that his knowledge is enough. Thus, it's better to just learn trading by your own rather than listening for an advice from people who haven't experienced dealing in a real market. Trading composes of a lot of business people that are looking for an opportunity from novice in this field.

Never ask for trading advices from those who themselves are simply in the learning phase. No one is either interested in seeing you progressing or they want to charge for helping you out. So in both case it is a lose-lose situation for you. I believe that we shall learn trading by practicing with small amounts and using exchanges for practice purpose before jumping into the market with real coins.

[MWesterweele]

All you need ro become a successful trader is perseverance and patience because a lot of people who started in trading don't take long due to risk and impatience, that is why even you are experiencing a difficult time in trading you should continue it and learn how to control your emotions to avoid panic selling.

Yes every sucessful trader has a trait like that, but first and foremost we need to patient, so that everything will be under our control, this would be very useful when doing a long term hold, especially now that bitcoin price is very unpredictable like other alts in the market now. And we need to have a strong mind and heart because we need a firm decision wether we will sell our coins or we buy more of it.

[jcpone]

For us to become successful trader, I think always continuous or never stop learning about in crypto trading, Be patience too, must know how to read candle stick, chat/graph, and always do some research about the token you are gonna buy in the platform before investing it. Always check the platform too that has a good reputation as well in the market.

[Meowth05]

Hello guys, I'm here because am so lost and confused about this whole thing of trading bitcoin or any other market as forex, stocks ...... first, when i started trading bitcoin it because i heard and saw many people talking about it and that you can make a lot of money. I mean yeah at first i made some profits by buying small amounts of bitcoin in Yobit then selling it again when the price goes up, but when day when the bitcoin went down i lost a lot of money.
I didn't quit trading but i moved to forex market. And as all they say technical analysis is the key to win in this market and there's many youtubers showing their money by trading forex anyway I'm not sure of it. The problem lately i watched some people saying that technical analysis is bullshit and I'm really confused

What i want to know is how can i become a successful trader and make money for the rest of my life. Should i learn technical analysis or harmonic patterns......
And which is the best market to trade for a beginner.

I am not that perfect trader and not a newbie either. My tips are don't use other strategies but rather make your own if you will use them then just only a guide and none other than that. Be patience, just like you what have mentioned, after the Bitcoins fall down you lose your money right? Honestly, it is not, remember Bitcoin is volatile if you are willing to wait then you can gain it back or even get a profit, and you can compared this to HODL in which you will wait until the right time before make a sell. And yeah, having a technical analysis and planning ahead will be much helpful for our trade.

[huige007]

A lot of people already have become a successful trader because they are dedicated to become one, so i think the first thing to be a successful trader is you know the movement of the market charts and it's volumes, and you also need to have patience and to control your emotions to avoid panic selling.

In short, one has to have sound knowledge of the market including the projects in trend and also the exchanges which are dealing with it. To understand all this stuff, you have to read a lot and give damn time to market in order to grasp the things that are going on in the market. Controlling emotions is not that big deal. Real game changer is the knowledge of trader about the market.

[wxa7115]

Indeed, giving advice without real experience seems not reliable. He should apply first his advices on his own journey in trading before thinking others on how to trade safely.

To be a successful trader (regardless which market you choose) requires knowledge and experience. You cant master it overnight but as time goes by you're going to improve and thats your stepping stone to succeed.

Unfortunately this is true for many other financial advisors as well, there is a whole industry of books being written to teach people how to trade and yet many of those that write those books are not really traders with experience, they are just telling you what they think it could work in the markets but they never took the time to test their advice in paper or with real money.

And to me that is dishonest in a way because how you can guide people to try to become traders when you do not know how to do that by yourself, this is similar to someone that gives you advice about how to reach your peak physical condition and he is out of shape.

[asus09]

Become good trader only need much money because without have much money we can get profit and never have chance to be successful trader, skill is important but in ration 10% and 90% for successful in trading or investing is have much money, although have good skill to prediction with bitcoin and altcoin price without have much money we are nothing.

[doomloop]

Indeed, giving advice without real experience seems not reliable. He should apply first his advices on his own journey in trading before thinking others on how to trade safely.

To be a successful trader (regardless which market you choose) requires knowledge and experience. You cant master it overnight but as time goes by you're going to improve and thats your stepping stone to succeed.

Unfortunately this is true for many other financial advisors as well, there is a whole industry of books being written to teach people how to trade and yet many of those that write those books are not really traders with experience, they are just telling you what they think it could work in the markets but they never took the time to test their advice in paper or with real money.

And to me that is dishonest in a way because how you can guide people to try to become traders when you do not know how to do that by yourself, this is similar to someone that gives you advice about how to reach your peak physical condition and he is out of shape.

I don’t believe that real traders who have made great money in the world of trading are the ones who have done extensive study of these books. I personally believe that those who make YouTube videos are the ones whom we can trust because they are executing their strategies in real. Real successful traders are the ones who learn on their own by testing their strategies simply by small funds.

[Ashong Salonga]

Indeed, giving advice without real experience seems not reliable. He should apply first his advices on his own journey in trading before thinking others on how to trade safely.

To be a successful trader (regardless which market you choose) requires knowledge and experience. You cant master it overnight but as time goes by you're going to improve and thats your stepping stone to succeed.

Unfortunately this is true for many other financial advisors as well, there is a whole industry of books being written to teach people how to trade and yet many of those that write those books are not really traders with experience, they are just telling you what they think it could work in the markets but they never took the time to test their advice in paper or with real money.

And to me that is dishonest in a way because how you can guide people to try to become traders when you do not know how to do that by yourself, this is similar to someone that gives you advice about how to reach your peak physical condition and he is out of shape.

I don’t believe that real traders who have made great money in the world of trading are the ones who have done extensive study of these books. I personally believe that those who make YouTube videos are the ones whom we can trust because they are executing their strategies in real. Real successful traders are the ones who learn on their own by testing their strategies simply by small funds.

Most of traders who make youtube tutorials learned from other traders who share their knowledge, wisdom, and experiences through books. Technially, we can learn how trading works through youtube videos. However, if we will focus more on right mind set, it can't be taught completely with video tutorials because that is subjective and it will be well explained through books. At the end of the day, it doesn't make difference for a well determined trader who knows himself that what he learned isn't enough.

[pundit]

There is no any sure shot way to get profit out of trading. Some people trade with TA and many people trade based on fundamental analysis, some people trade with levels only. So its up to you which method you are interested in and want to follow. Its only the experience which can make you win the market. First either trade on demo account or open a small account, try to trade in the direction of bigger TF, learn about TA and money management, success will surely follow you.

[gweedo]

I think we need to have patience first. In this market, if you have the patience, you will certainly succeed and make a lot of profits depending on your patience. In addition, you need to have other important knowledge such as: Analysis of Bitcoin and Altcoin charts, Market news ...