What do you need to become a successful trader?

[lemipawa]

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.

That's what I also did when I first started trading and the only motivation that I have is what I heard, its easy to make money in trading, buy low and sell high, but after loosing money, that's the time I have to take it seriously, I started to learn how to use graphs and follow mentors and see how they did 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.

Technical Analysis is bullshit to those who doesn't know how to use it or has not gained profits in using it or maybe, they know how to use they earned from it, but they simply hate using it because it will eat up their time analyzing candle sticks.

[Herry Toms]

To become a successful trader you need to believe that Techincal and fundamental analysis only play a 10% role and the other 90% is psychological analysis. To learn what is psychological analysis and how important it is, read out the best trading book "Trading in the Zone" by Mark Douglas, The early you read the better you learn.

[Ridwan Fauzi]

You will always lose if you follow the strategy someone else I bet for it. Become a trader is not about learning what someone else did, you will only focus on their strategy and I think that is the bad thing. First thing that you can do is learn more the analyst either technical or fundamental and I suggest don't focus on youtube you need to read as well. If you just focus on the video you will always remember it and it will become a benchmark as your strategy. You have a chance to make your own strategy and you can aplicate it if you will trade so as when you got lose or even when you got profit you can evaluate it by yourself and as a source when you trade later.

[alan2here]

I personally did trading but still not called as successful trading because i was suffering plenty of loss during my trading activities but those who deserve called as successful trading might be they who can avoid loss everytime trading and maybe to reach that achievement people should learn and became an expert from trading knowledge such as technical analysis or how to predict chart movement and the most important is experience and good mentally to facing downtrend is necessary too

I think psychology will affect a lot of your investment because the current market is not really good so surely many investors will have huge losses. I usually do not trade during this time period because the risk now is very high and it can completely put me under pressure to invest. I believe the current solution is to hold Fiat and wait for new growth in this market

[pieppiep]

You don't need to think of other people say because you don't know if that is true or not. The analysis that every trader learn will be different as we need to find what analysis that can help us to analyze the market. They can say analysis A will not work for them, but it's work for you, then they cannot say that is a bad analysis because you can use the analysis with good. What you need to do now is only learn as many others here suggest, find your own method to make a profit from trading. When you can do that, just stick to it and still trying to make more profit than before. So when you can do that many times, then I think you can become a successful trader.

[bobmag]

To become a successful trader you need to get a laptop with good internet connection and electric which is not eratic,you need to get basic training on how to trade and also to update yourself with knew tactics

[7777wonder]

To become a successful trader you need to learn from other established trader and also get the necessary skills with basic computer knowlege of trader with good electricity connection

[babysweetTiger0401]

If you really want to become successful trader in crypto industry, first you must have capital, have a passion to learn everything here in this business, don't be emotional when every time you are in the actual trading platform, Don't be greedy, be positive always, and always apply
patience.

[Bitcoin Seller]

Don't focus on technical analysis just focus on "buy low and sell high" crypto or bitcoin is unpredictable and no signals.

If you want to make a profit try to trade on Binance they have some tools that can prevent you from losing.

Check this for a quick guide: https://www.binance.vision/tutorials/what-is-a-stop-limit-order

Don't trade with yobit again because it's not actually safe place to trade.

Crypto traders need to buy even before the start of growth, with a short or long-term fall, otherwise, you can fall into the trap of manipulators. And assets should be sold, respectively, with growth, when the price reaches the second half of the expected peak. At the same time, as a beginner, you should not try to actively play on the rebounds. As a rule, this results in lost profits.

[suzanne5223]

I personally did trading but still not called as successful trading because i was suffering plenty of loss during my trading activities but those who deserve called as successful trading might be they who can avoid loss everytime trading and maybe to reach that achievement people should learn and became an expert from trading knowledge such as technical analysis or how to predict chart movement and the most important is experience and good mentally to facing downtrend is necessary too

I think psychology will affect a lot of your investment because the current market is not really good so surely many investors will have huge losses. I usually do not trade during this time period because the risk now is very high and it can completely put me under pressure to invest. I believe the current solution is to hold Fiat and wait for new growth in this market

You both prove your point and you're both right and wrong. Bering, you're yet to understand crypto trading very well, your level of patience is not concrete, you're making losses and you still choose to do day trading.
Alan2here, every time is good for crypto trading only if the trader actually have the required knowledge and patience because one's cannot make lost in crypto if invest in the right utilized coin like bitcoin cause it will later pump in price.

[hulla]

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.

The technical analysis is the key to win in this market but that does not guarantee you been a successful trader because.
1) Technical analysis doesn't always give an accurate result due to the level fluctuations of the market.
2) if you don't have the knowledge about the right time to invest, you'll still make lose
3) You also need to know how to choose the right coin to invest either. However, I will advise you to work on what I said while you study the TA and harmonic pattern.

With that been said, you jumping to forex trading because you make a loss in crypto trading is just like gambling your fund because you can still make your lost investment back in crypto if you wait till it bullish season.

[Shutup]

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.

To become a successful trader you need to be patiently monitor the price of of your tokens and get ready to learn about trading, because there's a lot of people became rich because of trading. Thats why lm so much interested of to trade in here. I want to search more for about it.

[serantepe]

It seems to me that the most important thing is to have your own trading strategy that will bring money.

[Yamifoud]

It seems to me that the most important thing is to have your own trading strategy that will bring money.

Yes, you might have your own but of course, we need to see also what successful traders do before they'll got its name. That is very important to gather ideas and could help to create our own. Keep learning is what we need for in order to succeed and not just relying of a single strategy. Things might change as well as the market demand, this need to take action by then and be vulnerable in all market condition.

[leowonderful]

Patience is a big part of it. Don't force a trade to happen when you are unsure of what might unfold or if you're not confident in a trade, look for good setups and trades with good risk relative to reward. There's definitely no-trading zones out there, and recognizing when you shouldn't be trading can be the difference between your balance staying the same and losing a few hundred dollars. You also don't need to use extremely complex TA to trade; I often use simple support and resistance levels and it works out very well for me.

[serantepe]

It seems to me that the most important thing is to have your own trading strategy that will bring money.

Yes, you might have your own but of course, we need to see also what successful traders do before they'll got its name. That is very important to gather ideas and could help to create our own. Keep learning is what we need for in order to succeed and not just relying of a single strategy. Things might change as well as the market demand, this need to take action by then and be vulnerable in all market condition.

Therefore, you should read and watch YouTube more, but do not listen to everyone in a row, a lot of  practice and build your own strategy.

[South Park]

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.

Your biggest issue is your mentality, it seems you believe that if you learn a magic formula you will be set for the rest of your life, trading is a lot more than trading signals, your psychology plays a very important role, even if you were to develop a strategy that gave you a lot of profits it will be for nothing if you do not have the mental fortitude to follow your strategy after you have lost a few trades, another important factor is money management, many traders have good systems but their trades are too reckless and they lose all their capital before their system has a chance to make that money back.

[Kasabus]

OP probably missed something from what the others say, he/she might forgot the risk and just only focusing on earning every single day. Anyway, there is no wrong with that cause in the first place, that is our goal and that should be. But what I see to this person is that, he never knows really about crypto and don't have enough knowledge in trading putting himself/herself at full risk and getting worse of losing his/her hard work money.

[barbara44]

you might have your own but of course, we need to see also what successful traders do before they'll got its name. That is very important to gather ideas and could help to create our own. Keep learning is what we need for in order to succeed and not just relying of a single strategy. Things might change as well as the market demand, this need to take action by then and be vulnerable in all market condition.

Therefore, you should read and watch YouTube more, but do not listen to everyone in a row, a lot of  practice and build your own strategy.

With all sincerity, I have never been to a trading school before and the level of what I know In trading today which has paid off for me was gotten through YouTube and some articles that I do read over the internet. Provided that one has the ability to learn on one's own.

YouTube is still the best place to actually learn because on YouTube, the learner will be exposed to different tutors from different part of the world, and they all have their own strategies which they usually share with their viewers, I think that it would be best sometimes to just always go on YouTube even as an already existing trader to learn from those that are better than us, and you know that developing a strategy requires getting lots of experiences from different angles.

[evader11]

To become a successful trader, you need to make your mindset open, you need to put always in your mind that you will be successful in trading. So this will make you more eagerness in doing how to trade and there is two types of analysis, fundamentals and techniqual .