WHAT DOES A TRADER NEED?

[michellee]

It's not difficult to find what the trader needs. The first time, the trader needs to know where he can trade. Maybe he can read on the crypto news every day so he can add more knowledge to himself. But to analyze more, he needs to learn about learning the analysis so he can do analyze for the coin he wants to buy. That is not easy as he needs to practice more and more so he can find when to enter the market. He needs to select the right coin, as that is what he needs to find if he wants to make a profit.

But all will not work if he cannot learn about trading because many traders give up when they need to learn. Many of them are the group signal, which cannot give them the profit.

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[crossabdd]

for me, first read the news, after getting the news then go to the coin that was preached. after that make a chart pattern, after it is formed then determine the buy and sell positions. and the next is waiting. noted: buy when there are rumors, and sell when news releases.

[DimitrisLodirogas]

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

Honestly, you can answer that by yourself.

You got some useful and helpful advice here: . You just need to understand what others told you.

And I think, even by a bit, you already have a knowledge about choosing a coin to trade based on your preferences so I believed you already know the basics,

If you investigate and evaluate the project correctly you can make a profit from any good coin. But definetely prefer to stick with proven ones. My top alts NEO, XRP, XLM, NWC...

The reason why i asked the main question (what does a trader need?) is because i think that i sometimes overcomplicate and over analyse everything (same for other things in my life).
I have basic knowledge but don't feel comofortable to start daytrading (which is my wish)
Would like to make the process as simple as possible, systematically.

[DimitrisLodirogas]

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

A lot!

But one most important thing for trader is stability of emotion.

No matter how great you are at analyzing with different tools, no matter how long you do a research, mo matter how much time you invested to get experiences, if your emotion is not stable then you might take a wrong decision.

There was a post (not sure which category) talking about this matter. I firstly took it as a joke but it's actually really important, what scares me is the part...no matter how much time you invested to get experiences.

[DimitrisLodirogas]

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

Tradingview and whatever social media the coin you're trading generally uses are really all you need. It's pretty self explanatory why you need Tradingview. The social media information is key because sometimes you will see a huge, almost instant fall off and you'll want to invest at that time. But, you really need to go check the social media and see if there was some important reason for the fall off and decide whether or not it's worth the risk.

So tracking each coin you own on social media? Being constantly up to date with their progress/work?
Or did you mean following 'general discussion'/news on social media?
Thank you!

[DimitrisLodirogas]

What do you think in yourself that you are lacking? Its all about the experience in answering these questions though. No matter how many preparations you've made, the experience would still be the one answering what you yourself are lacking. Of course, this doesn't mean i'm discrediting proper preparations. Those are still important like research, exchange to use, studying, analysis etc. I'm just iterating that only experience would show what you yourself is missing, in addition to those preparations you've made yourself.

What i'm lacking is the question i ask myself everyday. And i don't have much time lately so i'll probably just stick with reading news and looking at new coins etc.. Thank you!

[Apened]

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

Honestly, you can answer that by yourself.

You got some useful and helpful advice here: . You just need to understand what others told you.

And I think, even by a bit, you already have a knowledge about choosing a coin to trade based on your preferences so I believed you already know the basics,

If you investigate and evaluate the project correctly you can make a profit from any good coin. But definetely prefer to stick with proven ones. My top alts NEO, XRP, XLM, NWC...

The reason why i asked the main question (what does a trader need?) is because i think that i sometimes overcomplicate and over analyse everything (same for other things in my life).
I have basic knowledge but don't feel comofortable to start daytrading (which is my wish)
Would like to make the process as simple as possible, systematically.

You have to work on that part over analization will end up with nothing. That basic knowledge is all you need as of now master that basic knowledge try to figure out how can you apply it well in your day trading activity.
Don't overcomplicate especially using tools and indicators. I will give an example :

Trader A use tradingview and he knows where is the support but he keeps on adding many tools and indicators so the tendency his Technical analysis will become completely complicated
Trader B us tradingview he only plots support and resistance and use 2 or 3 indicators and tools so he can decide quickly and analyze the chart effectively with the other simple details.

[rijaljun]

A lot!

But one most important thing for trader is stability of emotion.

No matter how great you are at analyzing with different tools, no matter how long you do a research, mo matter how much time you invested to get experiences, if your emotion is not stable then you might take a wrong decision.

There was a post (not sure which category) talking about this matter. I firstly took it as a joke but it's actually really important, what scares me is the part...no matter how much time you invested to get experiences.

I'm sure this is the first rule of trading and other activity like gambling.

Ideally you don't want your decision affected by your feeling. It doesn't matter what you feel, happy or sad, both could affect your decision making and that definitely could ruin your valuable experiences.

[Innocant]

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

Ill think all the question you mention are now answer from the people knows about trading in here and you need is how to use those answer mention in actual trade. Maybe you can do it by yourself  you are interested or want to learn in trading.. And I dont have enough information or strategy in trading can I gave for you so, All i can say is be patience in trading ill know it was to risky while in trading need time also to rest and earn more profit in trading.

[aysg76]

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

A trader always need to be in touch with the latest news in the market and regularly monitor the market growth of coins in which he have invested and try to avoid unneccesaary losses.Trading platform is essential where will trade his coins and can use tools to enhance his skills.Moreover he need to have knowledge and level of skill to trade profitably in the market and vision to survive in this highly volatile market.

[V1saya]

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

Those are enough. There's one, if you are using an exchange that do not have alarms when something is hit, an app like Blockfolio can help. Outside of those stuffs, you have to be not greedy, stop being emotional, stick to your plans and last but not the least, you need to have some sleep.

[Colt81]

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

In my own point of view, a trader doesn't really need trading tools like trading bots because some traders only used trading bots to manage their trades while they are away. A trader sometimes needs a guidance from a professional trader because they needed help to decide on their trade, that is why i always watch videos on YouTube for me to know other strategies that i could used in trading to prevent and minimize my losses.

[panganib999]

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

All of these are needed but really, a trader needs to have patience and lots of it. Trading will really test your patience and will push you to your limits that's why it's a necessity. Also, what you need to do as a trader who's about to start, control your emotions and don't let it do otherwise, you can expect that you will be experiencing lots of excitement that could lead you into doing things impulsively at the spur of the moment, or experience panics as the price of the coins drop down to the pit. Bring these two with you for these will be helpful.

[Andrew Parker]

As a trader, I don’t really have list of expectations. Instead I just prefer peace and facilities to be relaxed. And this helps when you have broker like FreshForex. I feel highly in peace with them. And more importantly, I feel secure under them which helps me to trade well. And this is really what any trader wants.

[el kaka22]

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?

When I am trading I really need some sort of alerts to either my mail but if possible SMS as well to my phone, or at least notifications as an app to my phone. That is not really available in most of the exchanges. Like when bitcoin goes down or up it does notify me, that exists but I want to setup alerts to myself, like for example "notify me when bnb drops under Bollinger band x level" or something like that, it would be such a great time saver.

I hate to check these stuff, I can trade manually instead of using bots for example only if I had some alerts, that would make it so much better. Email works too but I am not checking my email all the time so any app notifications would be better than all other options for the indicators to hit what I want and get notified about.

noted: buy when there are rumors, and sell when news releases.

Due to rumors/FUDs lead collapse whereas news/announcements lead up-surge? I guess most traders are already doing these on their own but like any other strategy this also will not help to catch the exact turning points. I just want to conclude that traders always need to watch news.

[jostorres]

All of these are needed but really, a trader needs to have patience and lots of it. Trading will really test your patience and will push you to your limits that's why it's a necessity. Also, what you need to do as a trader who's about to start, control your emotions and don't let it do otherwise, you can expect that you will be experiencing lots of excitement that could lead you into doing things impulsively at the spur of the moment, or experience panics as the price of the coins drop down to the pit. Bring these two with you for these will be helpful.

Anyone that has been in Long-term investment should really not find it difficult to be patient in trading because they have had this experience for a long time now and the patience needed in trading is not going to be as long as the one we have experienced and gotten used to during our long term investment.

Patience is really needed and also, there is need for us to work on our greed level too, because one of the things that do destroy most traders is this issue of greed, many traders are so greedy when trading and they because of this always miss the opportunity that is always available to them to sell at the right time, and when they refuses to sell, they end up getting trapped in the market for a long time after they must have lost the chance.

[andycarrol]

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

I think using platforms/tools don't really need it, but reading news constantly it's important because most traders must know about the news what is happening and what will happen in the future, so that it can analyze price movements because the trading proverb says to buy when rumors, sell when news.

[josephdd1]

Reading news has little to do with how well a person is able to trade.

I think the most important thing that a trader needs is experience. Trade lower volatility markets and see if you can make a profit, or even use the demo function on a platform like Stormgain for a few weeks until you get the hang of things.

If you can't profit on a demo platform, don't even think about risking your money just because you read some BIG NEWS.

[Goodvalony]

Some said the most important tool needed in trading is T.A and news updates. many people sticks to methods and a particular procedure. the funny thing about trading is that you can still get rekt. the most importnt tool needed in trading is your mind. if you can control your mind effectively against bulls and bear movement, you will survive. this is my opinion. it worked for me.

[ufaiz50]

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

All three of which you call necessary, basically they have to know the crypto market that is strategy, information, analysis, trade and technology. With an understanding in all areas of the crypto market it is just how your expertise and experience to cultivate it all become profit in the cryuptocurrency trade.