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Author Topic: What do you need to become a successful trader?  (Read 6128 times)
serantepe
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September 05, 2019, 05:27:38 PM
 #41

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 .
It also seems to me that to be a trader you should have a cold brain and a decent supply of money.

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September 05, 2019, 06:09:09 PM
 #42

If you had a gold mine would you teach others where is it?

So why all those people are pretending to be able teaching you something?

Why they are just not making money themselves with all that wisdom they have?

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September 05, 2019, 06:27:40 PM
 #43

If you had a gold mine would you teach others where is it?

So why all those people are pretending to be able teaching you something?

Why they are just not making money themselves with all that wisdom they have?


For some people, even give them a gold mine and show them how to dig, they will throw a pickaxe and start complaining how hard it is for them.
And if on the topic, then there is no magic recipe. There are some common points, let’s say most of the people who succeed, work hard, tirelessly. And that’s it.  Smiley
There are some who were just lucky at some point, but there are few.
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September 05, 2019, 06:39:43 PM
Last edit: September 05, 2019, 07:00:26 PM by johnwhitestar
 #44

If you had a gold mine would you teach others where is it?

So why all those people are pretending to be able teaching you something?

Why they are just not making money themselves with all that wisdom they have?


For some people, even give them a gold mine and show them how to dig, they will throw a pickaxe and start complaining how hard it is for them.
And if on the topic, then there is no magic recipe. There are some common points, let’s say most of the people who succeed, work hard, tirelessly. And that’s it.  Smiley
There are some who were just lucky at some point, but there are few.

That's true. Trading is a job as any other, but it much more risky so much more stressful.
People tend to concentrate their attention on possible high profits that a trader can make, but for one who makes profits there are others that lose money.

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September 05, 2019, 07:26:47 PM
 #45

to be a good trader, in will give you 3 advice.
1. learn to make a good study of the market scaling, be wise enough to know when to sell and buy
2. Associate yourself with good traders, ask questions when needed in order to be guided and kept abreast of what may be above your head and don't be greedy.
3. Look for good trading site that will make your trade less stressful.
 
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September 06, 2019, 01:12:42 AM
 #46

for any trading such as forex, crypto or other trading I think you should try to do an analysis of the trading. You must be smarter and more able to try to be more experienced in having knowledge and skills in trading because that is the main key to trading success.
Keep learning everyday, we never just be confident enough if what we've doing today cause in the following days, this strategies will be obsolete.
As we know, learning will takes time and we never make things possible in just a day but most probably a years.
To think of becoming a successful trader, we need to survive from all the challenge and it takes years to finally promote our self as a successful trader.
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September 06, 2019, 01:21:17 AM
 #47

for any trading such as forex, crypto or other trading I think you should try to do an analysis of the trading. You must be smarter and more able to try to be more experienced in having knowledge and skills in trading because that is the main key to trading success.

You should have a will to learn to trade harder than the other people if you want to be a successful trader. No one when that person can reach his goals in the short term or long term but one thing that we should know that if we are trying harder to learn something, it will use the best result someday. We will be able to get the biggest profit in the future, and of course, that is because our learning in the past that always help us to gain profit.

But you cannot imagine getting a high-skills in a short time because trading is not as simple as you thought. Trading will need the patience to understand step by step of the lesson so you will be able to improve your skills. That will be a long journey to become a successful trader in the future, and I believe that every people have the same chance.

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September 06, 2019, 06:30:00 AM
 #48

what determines to become a successful trader include, large capital, psychological, money management, analysis. the greater the funds used, the better, because our goal is trading for living. with a large fund and a small percentage of the target, the target will be easily achieved, and this prevents psychological disorders if the price reverses direction

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September 06, 2019, 09:59:27 AM
 #49

for any trading such as forex, crypto or other trading I think you should try to do an analysis of the trading. You must be smarter and more able to try to be more experienced in having knowledge and skills in trading because that is the main key to trading success.
Keep learning everyday, we never just be confident enough if what we've doing today cause in the following days, this strategies will be obsolete.
As we know, learning will takes time and we never make things possible in just a day but most probably a years.
To think of becoming a successful trader, we need to survive from all the challenge and it takes years to finally promote our self as a successful trader.
continue to learn from mistakes, and find a gap from all of it. when you find it, you have to combine it with the knowledge you get. confident is necessary, but confidence alone is not enough to make a profit from trading.
I suggest continuing to learn to read chart movements that occur at this time. keep doing the exercises, and don't hesitate when doing it. but, in this case, of course, you need to prepare yourself from all the risks that can occur.
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September 06, 2019, 11:26:49 AM
 #50

On top of everything that's been said so far, you will also need the right set of tools.

Humans are not evolved to stare at the screen all day, so automating your trading is an important avenue for becoming more efficient and, thus, successful. In this day and age, traders should focus on the creative aspects of trading solely (designing strategies), and leave repetitive tasks (like monitoring the market 24/7 and executing trades following a certain logic) to machines.

I'm personally working on a trading bots platform for non-coders that you may want to check... take a look at the Superalgos Desktop App. It's open-source and it's free.
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September 06, 2019, 11:48:21 AM
 #51

On top of everything that's been said so far, you will also need the right set of tools.

Humans are not evolved to stare at the screen all day, so automating your trading is an important avenue for becoming more efficient and, thus, successful. In this day and age, traders should focus on the creative aspects of trading solely (designing strategies), and leave repetitive tasks (like monitoring the market 24/7 and executing trades following a certain logic) to machines.

I'm personally working on a trading bots platform for non-coders that you may want to check... take a look at the Superalgos Desktop App. It's open-source and it's free.
I do not trust  to trading bots  and prefer to work only with my own head and not rely on luck.

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September 06, 2019, 11:57:04 AM
 #52

I do not trust  to trading bots  and prefer to work only with my own head and not rely on luck.

Luck should always stay out of the equation, couldn't agree more.

About trusting bots, you may want to think you don't trust bots, but you do every single day of your life, even with things ore important than money.

So, it's mostly a matter of getting familiar with a good platform that gives you total control on what the bot does. And the bot should do what you tell it to do, not what a random person has pre-configured. You should be able to backtest strategies with historic data and paper-trade until you feel comfortable with it. Then start trading with small funds until you are confident everything is going well.
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September 06, 2019, 12:11:39 PM
 #53

Of course to become a successful trader you must knowledgeable in everything , what i mean all the related things  about doing ,wherein in order to reduce risky situation and you know what to do if there's a problem occur. Lastly you know as well to control your emotions and you have patience because in it you cannot get good return if you don't have specific strategy and you always change mindset. So better change your self first before jumping on it. Educate your self more to avoid problems.
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September 06, 2019, 09:17:47 PM
 #54

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 be a successful trader you will have the attitude of being patient. Patience is the best behaviour in trding to succeed in life. Traders are probably have patience in monitoring prices so that you can profit big amount. So traders really love volatility  to have it.
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September 07, 2019, 11:43:50 AM
 #55

It seems to me that, in the first place, in addition to the initial knowledge that every trader should possess, a person should also have the ability to select more suitable coins for trading, which will give good results both in daily trading and in creating orders for a long period.
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September 07, 2019, 02:57:31 PM
 #56

Of course to become a successful trader you must knowledgeable in everything , what i mean all the related things  about doing ,wherein in order to reduce risky situation and you know what to do if there's a problem occur. Lastly you know as well to control your emotions and you have patience because in it you cannot get good return if you don't have specific strategy and you always change mindset. So better change your self first before jumping on it. Educate your self more to avoid problems.
- Agree, in-depth knowledge is what we need in order to become a successful trader and the definition of knowledge here, which is an ongoing upgrade and exchange, this means we need to know more and more every day, can not stop with the old knowledge, it will soon be outdated and worthless to this market. And the next factor that leads to success, that is the nature of a successful investor, there are many factors that make up this success, some people will say patience and control, except for these, it still has many other factors.

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September 07, 2019, 03:11:51 PM
 #57

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.



TA is just a part in a big picture. Price can be affected by many other factors such as news. Especially with a small capital market like crypto, price can also be affected by whales/exchanges, so you need to join some good channels to collect as much news as possible. Then the combination of TA and news should work
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September 07, 2019, 06:24:46 PM
 #58

To my opinion there is no unique receipe for everyone. Each individual has its own goals and experiences but still there are some general gidelines that could help in efforts to become successful trader. First of all knowledge about cryptocurrencies and the market, how the system is functioning. Then ability to react and make decisions quickly but in cool head and to control panic and emotions. Setting the realist goals and not to hurry to get profit over night.

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September 07, 2019, 09:21:17 PM
 #59

I'd say the best way to profit in crypto is to go short.
I.e study the charts and take note of hours when prices rise each day; sell your coin during peak hours and buy the coin back during dumping hours - when prices fall.

It happens daily so you can eek something out daily.

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September 07, 2019, 11:25:07 PM
 #60

As a person we have different knowledge about it, so what ever the technique you use make sure it is compatibility to your knowledge it is good because they have some person who use any techniques even they are not compatible for them to use it.  A successfum trader do a lot of things to learn and to decide also to their own and do discover by their self.
Yes, because everyone has a different suitability from the way they analyze for trading, so even if we follow the same way with the person who succeeded first it does not guarantee we will get the same path, because every movement there will be many differences and changes that will making our skills and experience first in this regard. So to be a successful trader at least it must be done every time so that we get experience that continues to grow and develop continuously by always learning what it has gone through.

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