What do you need to become a successful trader?

[serantepe]

I have two which depends on what kind of investor you are. The first one is for poor and average earners like me, and what you need is experience, luck, dedication, patience and research. And the second one is for who earned good to high income and what they need is just like the first one except the luck because they already have the money even they don't trade. People have huge money used on trading also can have bigger profits compared to us small traders that can only invest a couple $100.

There is no matter how much money do you have, if you don’t know how to trade then you will lose everything.

[Greed Dev]

You have a long chain of losses, maybe you don't have the right approach to your trading job. In my opinion, what you need to do is have the same mindset as successful people, learn their methods, have the right trading platform, have good habits, clear goals and plans before you achieve. Get long-term profit in trading. In addition, you also need to be more patient in all transactions, waiting to be ready to seize the good opportunities that the market brings.

[Bunsomjelican]

Switching from crypto trading to forex trading when in fact, you are not yet confident from the former one is not a good step, bro. Forex trading is more risky and more difficult. I mean, if you are already quite confident like already gaining profits daily from it with your own Technical Analysis, then there is no problem switching to forex trading.

On the other hand, if it doesn't healthy anymore. Why don't you take a rest for a while. Gain more knowledge, identify what problems in the past trading, gain more confidence and trust your own TA. Then, if you are ready again to take a risk and can manage yourself, continue trading.

You already gave a good advise mate, well in my perception if you are type of traders that knows a lot about in trading, like
implementing the right timing to sell and buy, reading the proper way in the graph chart, and always have an idea about the coins
you are going to trade in, for sure there is a high chance for you to become successful in the end.

[ichai]

I think all amateur traders need is discipline. The majority of new traders often fail in bitter trading as subjective and unplanned trading.
therefore, they are always changing their strategies according to their emotions and have thus disrupted their trading portfolios.

[serantepe]

I think all amateur traders need is discipline. The majority of new traders often fail in bitter trading as subjective and unplanned trading.
therefore, they are always changing their strategies according to their emotions and have thus disrupted their trading portfolios.

No, it seems to me that practice and experience are more important then discipline in trading. Discipline is the trading strategy.

[bitcoinst]

Experience experience and experience again. The market does not lend itself to logical forecasts. Even large traders say that they constantly manipulate volumes in the market,
therefore you need to understand how whales think and replay them, which, in my opinion, is almost impossible to do on your own. Find a teacher, this is the best and fastest way to gain knowledge and experience.

Before you start trading cryptocurrency, you should get the basic knowledge about the asset being traded. Look at the charts, the book of orders - this will help to understand the framework in which the coin is being traded and determine its volatility. A novice trader is better off choosing digital assets with medium volatility. In this case, the price movement is more or less predictable, and the chances of losing an investment are minimal.

That's right, most do it. However, the market is not something that can be predicted on the charts. Even the analysis of annual dynamics does not give a complete answer to the question "what will happen next?" but only solid assumptions.

[Micerker]

To become a successful trader is very difficult because if anyone can succeed in cryptocurrencies, the Crypto has destroyed for a long time. You can only be a successful trader if you are a whale, then you can control the price at your disposal. Or choosing to become a HOLDer with this option will reduce your risk and ensure profit.

[DeathProxy]

Being a successful trader is not what you learn just a day, it is a process that occurs over time and you get better at it on a daily basis.  But nevertheless there are still some basics one need to to know.
Avoid greed
Avoid trading without emotions
Always try to buy low and sell high
But the rumours and sell the news
Don't to get emotionally attached to any coin

[Gridness]

Having knowledge in trading is very important and very disciplined learning and never forget to always try and try in trading, because experience is a teacher

[btcholder]

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.

It's a genuine thing in trade. Sometimes you make profit sometimes not. Even a good trader face also losses.

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

The bravest thing you done in your trade life is not quieting. I think this brave make you a great trader one day. Technical analysis is not a bullshit. It's also a method in trade. A good traders don't follow one method they follow that method which is need to be follow.

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......

Doesn't matter you choose what method if you really want to be a success one then be patient don't lose your hope when things go wrong. You'll never gonna a good trader if don't learn from your mistake. I don't know how many days you spend in trade but i can tell you there's still plenty of people trying to be a good trader whom spend couple of years though.

And which is the best market to trade for a beginner.

Crypto currency is too sensitive. Here markets moving fast and changes lot of in a day. If are totally new in trade then i recommend to try forex and then move crypto market. Because right now crypto is a game changer market in trading world i think.

[serantepe]

I can’t be a successful trader because I don’t have the patience, I constantly make sudden movements sooner or later.

[xSkylarx]

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......

Those strategies would really help but to be a successful trader you must learn how to avoid being greedy. Always grab the opportunities to earn profit. You said you want to make it a living so you have to set a realistic daily profit to make it possible. Some traders lose money because the profit they want is based on speculation they hear.

[RealMalatesta]

I have two which depends on what kind of investor you are. The first one is for poor and average earners like me, and what you need is experience, luck, dedication, patience and research. And the second one is for who earned good to high income and what they need is just like the first one except the luck because they already have the money even they don't trade. People have huge money used on trading also can have bigger profits compared to us small traders that can only invest a couple $100.

Sometimes it is not always like that because those average earners could be the real pro in trading and when they turn that small value big for you, you will be surprised, and it is not everyone that earn big that is here to play, people worked for the money, and it is because money is not enough for everyone including those rich people that you see them putting huge money into trading with the hope that they will get something that is very big in return.

The most important thing that is needed here is the knowledge and the skills, if you have the right skill, any trader would be able to trade successfully, no matter the money is trading with, If he does not have the right strategy, he would lose It. There is a chines man that I head last month committed suicide because he was trading very high to the tune of 16 million dollars until he lost.

[serantepe]

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......

Those strategies would really help but to be a successful trader you must learn how to avoid being greedy. Always grab the opportunities to earn profit. You said you want to make it a living so you have to set a realistic daily profit to make it possible. Some traders lose money because the profit they want is based on speculation they hear.

  For daily profit all people must be sitting at the computer 24/7 hours per day.

[Polar91]

The main characteristics of successful traders are they are persistent, determined, and passionate on what they are doing. We all know that trading is such a boring thing in making profit. However, it can be changed based on your perspective and your willingness to reconsider it. Once your perspective is positive, you won't get tired of pushing yourself on something you wanted to do which is to trade.

[Janation]

For daily profit all people must be sitting at the computer 24/7 hours per day.

But their goal is not like that.

As an investor, it is efficient to generate a profit without monitoring those assets.

That would be really great as an investor. If you will be able to do that, you can get more time with your family or other jobs, you can also open time for new investments or work or maybe a hobby you can do. You are successful if you are not focussing on your job, but you are thankful that you are in that job and there are a lot of people around you that loves you.

[bitcoinst]

Experience experience and experience again. The market does not lend itself to logical forecasts. Even large traders say that they constantly manipulate volumes in the market,
therefore you need to understand how whales think and replay them, which, in my opinion, is almost impossible to do on your own. Find a teacher, this is the best and fastest way to gain knowledge and experience.

I think we should not rush to find a teacher, before thinking about it, we should re-evaluate our selves, re-evaluate the experiences and skills that we have accumulated from the market, whether we can look at this from there and grow higher, finding the right trading path for us or not. If we really got stuck and couldn't develop more, finding a teacher to define and rebuild our path was justified, more precisely, what we want from them is more in-depth knowledge, helping us to recognize the mistake we are falling into

I do not agree with you. A teacher is always fast growth and stepping over obvious mistakes with double speed. The most important thing is to find a teacher for your level.
If you are a beginner, then you just need a good mid-level teacher, so that he just puts you the base.

[HatakeKakashi]

The main characteristics of successful traders are they are persistent, determined, and passionate on what they are doing. We all know that trading is such a boring thing in making profit. However, it can be changed based on your perspective and your willingness to reconsider it. Once your perspective is positive, you won't get tired of pushing yourself on something you wanted to do which is to trade.

Trading ia challeging for me and it's not a boring, maybe it's boring because they did not make a research in every decision they made.
Positive vibes can give you energy to trade well and if you have positive income you will get.
Your future depends on how you hardwork gives and also the determination to that things just like in trading.

[ILScoin]

The problem lately i watched some people saying that technical analysis is bullshit and I'm really confused

Should i learn technical analysis or harmonic patterns......
And which is the best market to trade for a beginner.

Technical analysis ain't no bull shit,  for you to be able to make trade calls on your own,  you need a deep knowledge in technical analysis

I will advise you to learn technical, also  you need to get use to fundamental analysis,  because fundamental analysis do nulifies technical analysis,  you might draw your chat for an uptrend and,  suddenly a FUD news might come up, the next thing you see is that you will begin to imagine if you didn't draw your chat very well,  meanwhile it was due to FA,  so you need both technical analysis and fundamental analysis knowledge

[Mpamaegbu]

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.

Harmonic patterns is also Technical Analysis. Don't get that all mixed up. Anyway, back to your question, the most important thing you need in trading besides the set skill for the business is "control of your emotions or patience" This is where you get to understand that patience is a virtue. Put a check on your reluctance in cutting your loses short and allowing your profit to run deep. If you have this taken care of, your perspective of the market will take a new dimension and you will begin to enjoy trading.