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Author Topic: WHAT DOES A TRADER NEED?  (Read 445 times)
Landak
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November 08, 2019, 03:20:22 PM
 #101

quite simple, which is reading the news and looking at candlesticks.
reading the news is the most important in my opinion. whatever the news, usually will have an effect on market movements even if only briefly.
practice it directly by adjusting the settings on the candlestick and place buy/sell positions, and also do not forget to always use Stop Lose and Take Profit.

 
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November 08, 2019, 11:43:34 PM
 #102

quite simple, which is reading the news and looking at candlesticks.
reading the news is the most important in my opinion. whatever the news, usually will have an effect on market movements even if only briefly.
practice it directly by adjusting the settings on the candlestick and place buy/sell positions, and also do not forget to always use Stop Lose and Take Profit.
For a trader, the most significant thing is to keep himself up to date. He must stay with the changes and predictions. This will certainly help him in taking right decision at right time. Moreover, he should also be able to differentiate between fake and real news. Other than that, he need to implement that knowledge as you said in a way that the basic rule of selling high, buying low gets fulfilled.

 
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November 09, 2019, 12:00:20 AM
 #103

quite simple, which is reading the news and looking at candlesticks.
reading the news is the most important in my opinion. whatever the news, usually will have an effect on market movements even if only briefly.
practice it directly by adjusting the settings on the candlestick and place buy/sell positions, and also do not forget to always use Stop Lose and Take Profit.
For a trader, the most significant thing is to keep himself up to date. He must stay with the changes and predictions. This will certainly help him in taking right decision at right time. Moreover, he should also be able to differentiate between fake and real news. Other than that, he need to implement that knowledge as you said in a way that the basic rule of selling high, buying low gets fulfilled.
In this case the main point is to synchronize the updated news and the candle itself, when you can make both of them have a uniform path then the possibility of the news does have an influence on the movement that might occur next. In trading we are not only able to focus on one point, for example news or other things, because at least there will be other factors that will make trading even better with many references obtained.

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November 09, 2019, 02:23:29 AM
 #104

But in short, tradingview is enough for ta. Just keep it simple, too many indicators is just making decision executing slower.
I can agree with that. I quite often see crypto TA influencers on social media clutter their charts with lines, moving averages, volume profiles, and so on.... how can one not get confused by so many indicators?

I use a few indicators that work for me and keep my chart clean to not lose sight of the actual sentiment and trend within the market.... the more you clutter your charts with lines and indicators the more insecure you are as trader.
Most likely they do this to seem smart, a newbie looking at that many indicators may seem impressed by the skill of the trader in the video but we know better. And there is an even more important reason, if you combine enough indicators you may come to a combination that seems to predict the market with perfect accuracy, this is called overfitting and for the inexperienced trader this may seem like he has found the perfect system, but his system only predicts the past and cannot predict the future.
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Today at 11:54:22 AM
 #105

As a trader, the most important thing you need is not to be greedy. Its no news that coins will appreciate and depreciate. So you must learn to take your profits even with low percentage. It doesn't have to be 100% increment before you take your profits.

You also need to stay abreast of rise and fall of the prices. A good internet facility to track rise and fall of prices is fundamental.
People have greed in them naturally, but ability not to control is s what becomes a problem, and this is why many analyst would advise that before getting into a trade, we have to learn to always try to control our emotion first at any point in time, if we can control our emotion about greed, then I doubt if there is any increase opportunity that will pass a trader by, and if we find  it difficult to control our emotion, I think that there has been lost of tools that has been created like that of stop loss and take profit that can assist us in learning how to control our greed if we can always set It.

When I first started my own trade too, I found it very difficult to really control my greed, and pending the time that I was learning to naturally control it, it was this stop loss and take profit tool that I was using.

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