What do you need to become a successful trader?

[virasisog]

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 know some friend of mine who traded Crypto that also went interested in stock or forex trading and Vice versa.
I myself started as a crypto traders but now i am having interest in forex trading as well.
As a trader basically you will need to put hard efforts in learning and i believe it is a continuous study.
Its very satisfying to be able to get your hard earned profit or money from what you have worked for.
I am not yet a successful trader yet but i am eager to be.

[1714887048]

1714887048

[Ailmand]

All the seasoned trader in both forex and crypto had failed and lost tons of money before they become pro. And being pro doesn't mean all your trades will be good. Just be patient and don't be disheartend when you fail. And keep all your failures as a good learning experience so that you will not commit the same mistake in the future. Never be greedy and control you emotions when trading. Good luck

[negancoin]

First of all, you can't be a professional trader without learning technical analysis. yes it's true it can't predict the future, but it teaches you when to enter a trade how to close your position if the price goes against you with minimum loss and allow to trade base on data, not on some emotion feelings. Fundamental works for the people with good, it's good for long term investment, as a normal person must learn technical analysis and do swing trading if he wants to increase his capital. About your question, how about learn everything that can be useful for you since you want to be successful trader.

[Kaller]

First of all, you can't be a professional trader without learning technical analysis. yes it's true it can't predict the future, but it teaches you when to enter a trade how to close your position if the price goes against you with minimum loss and allow to trade base on data, not on some emotion feelings. Fundamental works for the people with good, it's good for long term investment, as a normal person must learn technical analysis and do swing trading if he wants to increase his capital. About your question, how about learn everything that can be useful for you since you want to be successful trader.

Technical analysis is only the first step to become a successful trader. on top of that, you need various tools to analyze the market on a deeper level than your own brain. Computers are able to detect trends and patterns in market charts that we are simply not capable of understanding. The top traders on the world are using these softwares to make millions of dollars on an everyday basis.

[ardentvolcanoes]

First of all, you can't be a professional trader without learning technical analysis. yes it's true it can't predict the future, but it teaches you when to enter a trade how to close your position if the price goes against you with minimum loss and allow to trade base on data, not on some emotion feelings. Fundamental works for the people with good, it's good for long term investment, as a normal person must learn technical analysis and do swing trading if he wants to increase his capital. About your question, how about learn everything that can be useful for you since you want to be successful trader.

If you have that passion to learn more about the business that you are in to, there's no way that you won't be able to get reference around, you need to be Keen as continuing from this market need to have enhance skills from time to time. System like technical analysis gives you basis to anticipate the market movements, from that point you can position your  investment with much higher confidence.
If there's a will, there's always a way keep that in mind.

[Shinpako09]

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.

Skills is the most important which you can achieved through trial and error as time pass by. Also, you  must not be a lazy person because it really requires time and effort if you want to succeed in trading. Controling your emotion is also important, to make sure you won't commit mistakes too often. Also, capital, big sum is not required or advisable in the beginning since you are on a training in order not to get you burn. Make all-in or add your capital if you learned trading.

[Jsmbugu]

.............

Skills is the most important which you can achieved through trial and error as time pass by. Also, you  must not be a lazy person because it really requires time and effort if you want to succeed in trading. Controling your emotion is also important, to make sure you won't commit mistakes too often. Also, capital, big sum is not required or advisable in the beginning since you are on a training in order not to get you burn. Make all-in or add your capital if you learned trading.

I already started trading and learning at the same time and it's something that i like to do so i can't be lazy with it, the hard part is to control my emotions the whole time because i did it for a week or two but then i try to make double profits or more with high risk and no analysis and i loose all my money. I'm learning technical analysis and also trying my own strategy because i need only 50% of success to make money with a good money management.
Thank all of you for the support and advices.

[Colt81]

It is not that hard for you to be a trader and to make a successful trade all you have to do is don't panic that you should be confident on your analysis, you should be good in managing your profits, and you should not always think to recover all of your losses because there is a chance that your earnings will turn bad.

[bitcon]

In order to have become successful trader you must have this following characteristic:
-Patience
-always have a plan for trading
-control your emotions
-risk only what you can afford to lose.
-be updated on the market
-study the market
-know when to stop trading

These are the only things I know how to to have a better trade. The more experience you've gain the more trading tips you'll get.

from what I have observed, patience is indeed the foundation in playing trading. There is already plenty of evidence that shows that patience in trading can produce results. many people give priority to information before trading. but they don't have patience, which results in them not being able to maximize the profit they can get.

after that, the points you mentioned are things that need to be in us after having patience.

Trading cryptocurrencies is a very profitable occupation, but only for patient people who are able to devote time to market research, technical and fundamental analysis. Trading is a process that provides a unique opportunity for a profitable investment. The main thing is, among hundreds of cryptocurrencies, being able to choose the right asset for investing money, otherwise, all expectations may turn into disappointment.

Patient is indeed the foundation of all things that we do in life, patience means we are discipline enough to not rush things that is need to be polish to shine. It is like yourself, when you first time enter the Trading world, you don't have to expect that you are gonna do well in the first Trade, of course you will experience some crazy stuffs like losing profits because you accidentally set the wrong price when you sold a coin and so many more.

Patiend will be the key for you to be more experience in Trading, if you are patient enough to wait until you become a professional trader, I guarantee you that you, being a patient in all times would not disappoint you as you see the results of it.
 

  When you see your money loosing you will surely lose your patient. People will get emotional but if you really want to have successful trading you will have to hold your emotions, according to me a successful trader should take only wise decision  Never lose your hope just be patient keep buying at low price.

[lumierre]

In order to have become successful trader you must have this following characteristic:
-Patience
-always have a plan for trading
-control your emotions
-risk only what you can afford to lose.
-be updated on the market
-study the market
-know when to stop trading
These are the only things I know how to to have a better trade. The more experience you've gain the more trading tips you'll get.

from what I have observed, patience is indeed the foundation in playing trading. There is already plenty of evidence that shows that patience in trading can produce results. many people give priority to information before trading. but they don't have patience, which results in them not being able to maximize the profit they can get.
after that, the points you mentioned are things that need to be in us after having patience.

Trading cryptocurrencies is a very profitable occupation, but only for patient people who are able to devote time to market research, technical and fundamental analysis. Trading is a process that provides a unique opportunity for a profitable investment. The main thing is, among hundreds of cryptocurrencies, being able to choose the right asset for investing money, otherwise, all expectations may turn into disappointment.

[fullhdpixel]

Its easy to be a trader but its hard to be a succesfull trader itself because there is no perfect trader in this world. However you can reduce the risk if you are prepared and have a huge knowledge about trading specialy in cryptocurrencies. The one this you should do is patience because if you dont have that your just losing your investments.

Being a successful trader is not a hard thing, it is  lack of discipline that makes many traders fail, everything has a rule for success and if we can master the rule first, then we are good to go, what I have seen with people is that they like to jump the gun a lot, they don’t master the rule first and then go into trading, it is just like bitcoin talk, if you don't study the rules first and then keep them at heart, there is absolutely no way that we cannot make mistakes that will make the forum team to ban us, but if we adhere with the policies, we will find ourselves remain in the forum for year.

For one to become successful, one must have the right knowledge like you said, use the right platform, avoid being greedy and take cognizance of other rules of it.

[juperos]

I think in order to succeed you have to fail, you have to fall many times before, no one can get rich in one night and to do that you have to know risk management and have an early strategy. From long term to long term, all transactions must follow your plan, avoid "panic buying and panic selling" watch the market carefully.

[dewin]

patience and patience

[Chrystora123]

snip..

3 things needed to become a successful trader.. that is the ability to manage risk, analysis/fundamental skills, and finally the right signal group.  without these three things, don't expect you to be a successful trader, you are just a gambler because you play trading with only guessing and not with decisions based on analysis.

[kynaz]

It is not that hard for you to be a trader and to make a successful trade all you have to do is don't panic that you should be confident on your analysis, you should be good in managing your profits, and you should not always think to recover all of your losses because there is a chance that your earnings will turn bad.

I think it is necessary to have new knowledge in trading and to know how to use that knowledge in different circumstances to be able to make a good profit from this market. Not everyone can predict the future of the crypto market because this is a very volatile place and can completely make you lose if not careful. I personally never believe in other people's predictions and only believe in my own analysis.

[DeathProxy]

Being a successful trader has alot in play, first is to develop your trading skills and techniques,  this can be done easily buy spending much time learning from trading experts on YouTube,  learning their trading success skill and then implementing it in your own daily tradings. Another thing you need to become a successful trader is to have all the necessary tools,  indicators, charts, technical analysis,  fundamental analysis tools that will ensure smooth trading.  To also be a successful trader you also need to drop and keep away emotions from trading, look to always buying low and selling high, take profit at intervals and don't allow greed take hold of the better part of you

[Savemore]

For me, the word successful trader is about "discipline". You should have discipline when trading in order for you to perform well in the market. You need also to have  good trading psychology for effective decision making.

[zeze18]

For me, the word successful trader is about "discipline". You should have discipline when trading in order for you to perform well in the market. You need also to have  good trading psychology for effective decision making.

Luck is also big factor to become a sucessful trader in cryptocurrency because the chart movement sometimes is not same with our prediction even with a really good analysis. So we have to be a lucky person just like a successful gambler they are also need luck to become a successful person.

[Edraket31]

For me, the word successful trader is about "discipline". You should have discipline when trading in order for you to perform well in the market. You need also to have  good trading psychology for effective decision making.

Luck is also big factor to become a sucessful trader in cryptocurrency because the chart movement sometimes is not same with our prediction even with a really good analysis. So we have to be a lucky person just like a successful gambler they are also need luck to become a successful person.

There is no 'lucky person in trading, they have worked for it, they lost a lot before they will finally analyze the market, they have been stressed, depressed, most of the time they have lack of sleep, if they have predicted the market right, it is because they have studied it well, they did their best for them to be able to earn and to become successful in trader, so kudos and thumbs up to them as it is not that easy.

[barota]

most of investors just holding bitcoin i mean buy only without sell and this work is is better than trade every time. i see lot of investors find lot of deficult to hold their bitcoin especially when prices fall . holding can give lot of profit to investors for example invest in bitcoin before two years is profitable because prices grow a lot