A good advice for every traders.

[Hypnosis00]

5. according to the records , if you find something wrong with your trading logic, fix it

All of you mention are more important for us if we doing in trading.
And Ill agree with this number 5 in your list, Because they have time we are make some mistake in trading on why we are losing some profit in trading.
So we need have some records of which are we have wrong for trade, So that we can fix it early and avoid it if we trade again.

It was risky if we are in trading situation so thats why we need more plan and strategy for trading.

Finding solutions to our mistakes is really good but don't just stop to that, the most important thing is we need and must have to do is to don't let it happens again. Most traders come to lose their funds cause they don't consider trading as a serious task (which I believe it was). Then I have to say that, having a concrete plan is very important, not only that it will guide us but also it helping us to find which part we've been wrong.

[1715320648]

1715320648

[1715320648]

1715320648

[1715320648]

1715320648

[adzino]

Just blindly believe in your trading "logic"? Well, I guess you this won't end up well. Never believe in everything confidently. If you are trading with your strategy/logic and then you see that you are continuously making loss, then don't just keep on believing that you will eventually make profit (unless it is backed up with some true facts and mathematically). You will need to admit your believe is wrong and then you need to see whats wrong over there. Eventually you will be able to fix your "logic", thus improving your trading profit.

[Dart18]

Usually, we are trading with market, and we have our own trading logic. But , after you are trading for a long time , you will find you are trading with yourself and the biggest enemy is you.

Everything else doesn't matter if you are doing this already.
Trading with emotions.
That had been discussed here for so many times.
Emotion is what comes after a newbie luck.
Happened to me way back. I thought I was the luckiest guy in the world but yet loss happened. I didn't quite understood at start but it came to me when so much loss happened.
It takes experience. It wont go to your head with just a little amount of time.

[tambok]

Usually, we are trading with market, and we have our own trading logic. But , after you are trading for a long time , you will find you are trading with yourself and the biggest enemy is you.

Everything else doesn't matter if you are doing this already.
Trading with emotions.
That had been discussed here for so many times.
Emotion is what comes after a newbie luck.
Happened to me way back. I thought I was the luckiest guy in the world but yet loss happened. I didn't quite understood at start but it came to me when so much loss happened.
It takes experience. It wont go to your head with just a little amount of time.

We can't please everything and we can't guide everyone here, they do have their own strategy how they are going to maximize their fund, and if they are too hard headed , then it is not our fault but it is their own responsibility and consequence for being carelessness, so they don't need to blame the team or anyone from here.

[yarlungzangbo]

5. according to the records , if you find something wrong with your trading logic, fix it

All of you mention are more important for us if we doing in trading.
And Ill agree with this number 5 in your list, Because they have time we are make some mistake in trading on why we are losing some profit in trading.
So we need have some records of which are we have wrong for trade, So that we can fix it early and avoid it if we trade again.

It was risky if we are in trading situation so thats why we need more plan and strategy for trading.

The time for thinking must be more than the time that your are trading, just like Warren Buffet, the 80% of his time be used to read and thinking, how wonderful life it is .

[tmfp]

A good advice for every trader?

Don't.

It's a common fact that in forex, 96% of new traders lose money and give up when their funds run out.

There is no reason to believe that this % is any different in crypto: if you factor in the extra risks of being scammed by wallets, exchanges and sundry thieves, the % is probably even higher than that.

[Triffin]

5. according to the records , if you find something wrong with your trading logic, fix it

All of you mention are more important for us if we doing in trading.
And Ill agree with this number 5 in your list, Because they have time we are make some mistake in trading on why we are losing some profit in trading.
So we need have some records of which are we have wrong for trade, So that we can fix it early and avoid it if we trade again.

It was risky if we are in trading situation so thats why we need more plan and strategy for trading.

Being new in trading I really don’t know enough about trading but as per my short time experience I think you said all right things that we should try to make list of our mistakes and we should know about good time to trade. We should be aware of time to purchase and time to sell. Trading as a newbie is good for long term and avoid being so emotional.

[Peashooter]

5. according to the records , if you find something wrong with your trading logic, fix it

All of you mention are more important for us if we doing in trading.
And Ill agree with this number 5 in your list, Because they have time we are make some mistake in trading on why we are losing some profit in trading.
So we need have some records of which are we have wrong for trade, So that we can fix it early and avoid it if we trade again.

It was risky if we are in trading situation so thats why we need more plan and strategy for trading.

Being new in trading I really don’t know enough about trading but as per my short time experience I think you said all right things that we should try to make list of our mistakes and we should know about good time to trade. We should be aware of time to purchase and time to sell. Trading as a newbie is good for long term and avoid being so emotional.

Mistakes aren't avoidable but it can be lessen. Listing it can help but it's hassle for you since it can be easily remembered by our minds. I think it's better to focus more on strategies and technicalities rather than figuring out what wron we have done. In terms of type of trading, as a newbie it's not good for them to trade for long term because it could lead them to failire since they can lose too much if they are holding on somethint they know not too much about.

[pundit]

Usually, we are trading with market, and we have our own trading logic. But , after you are trading for a long time , you will find you are trading with yourself and the biggest enemy is you.

You may have a good trading logic , and you always earning money from the market , but you are still afraid of lossing, am i right?

Every trader should believe in his own trading logic just like a belief, you can't move it. Lossing are not terrible and you should like it.

So i have some advices:

1. make sure you are believe in your trading logic
2. record the reason when you open trade
3. take profit and stop loss strictly
4. back to the records when you close trade, and think why you are earning or lossing
5. according to the records , if you find something wrong with your trading logic, fix it
6. add your trade into a trade journal (advice from @GreatArkansas)
7. do the things 1-6 above again


Does any trader record the reason of opening trade? And how do you guys practice it? Let's talk about it.

That is something which can make a trader successful. Most of the traders try to recover the loss after any negative trade, they fight with the market taking illogical trades leading more losses to their account. Trading is a game of probability, even trades taken on guess have 50% chances of success. If you trade with a logic (record the reason when you open trade) you have more chances of success. Trade should be well planned with pre-defined SL and TP, we should accept whatever market gives us.

[Asmonist]

These are great guidelines. Its really helpful in trading transaction. Mostly it always depends on our own instinct or strategies. These guidelines are also dependable and eventually we can make our own strategies from the experiences we encountered everytime we trade. Stopping lost strictly is quite very risky and somehow hard to avoid but definitely needs time to monitor every trading or market statistics.

[crisanto01]

These are great guidelines. Its really helpful in trading transaction. Mostly it always depends on our own instinct or strategies. These guidelines are also dependable and eventually we can make our own strategies from the experiences we encountered everytime we trade. Stopping lost strictly is quite very risky and somehow hard to avoid but definitely needs time to monitor every trading or market statistics.

We do have a lot of ways, guidelines are available out there, so here is no reason for us not to learn trading unless we don't have the plan in learning it, for me, better to try everything that you think could make you maximize your fund and could make you rich rather than just wasting your time in some aspects that really don't matter at all.

[Altcoins enthusiast]

Trading is not for all of us and those that should trade in the financial market or cryptocurrencies market should be those that has spent more time in managing their own emotions and are ready to see loses as the road to success. I have see people selling a coins only to see that coins making 3x the following days.

[EdvinZ]

I also have one good advice for every trader who can't trade with profit, it is to become an investor. Just admit that trading takes your money and you turn into a regular ludomaniac. Conquer your weakness, invest for a long-term in worthy projects, and devote your free time to useful things.  

[kanayaTabitha]

I also have one good advice for every trader who can't trade with profit, it is to become an investor. Just admit that trading takes your money and you turn into a regular ludomaniac. Conquer your weakness, invest for a long-term in worthy projects, and devote your free time to useful things.  

Becoming an investors also need to be skilled like a trader, because seeing the potential of a coin is not easy sometimes a coins offer a really good future to their investors but in a year or 2 the coin is still stagnant and not making a good growth, so the investors will just wasting a lot of time.

[AliMan]

I also have one good advice for every trader who can't trade with profit, it is to become an investor. Just admit that trading takes your money and you turn into a regular ludomaniac. Conquer your weakness, invest for a long-term in worthy projects, and devote your free time to useful things.  

Becoming an investors also need to be skilled like a trader, because seeing the potential of a coin is not easy sometimes a coins offer a really good future to their investors but in a year or 2 the coin is still stagnant and not making a good growth, so the investors will just wasting a lot of time.

This is the common situation that mostly happening on different projects right now. The stagnant and non moving crypto coin was very rampant, and not being listed with any group of popular exchanges. That's how worst people thought about trading these days, and we can't even blame someone who panicked after seeing their holdings wasn't able to reach the profitable value. To give some advice, keep holding and don't listen to any manipulation or some negative analysis, because it might give you wrong decisions.

[Twentyonepaylots]

I also have one good advice for every trader who can't trade with profit, it is to become an investor. Just admit that trading takes your money and you turn into a regular ludomaniac. Conquer your weakness, invest for a long-term in worthy projects, and devote your free time to useful things.  

Becoming an investors also need to be skilled like a trader, because seeing the potential of a coin is not easy sometimes a coins offer a really good future to their investors but in a year or 2 the coin is still stagnant and not making a good growth, so the investors will just wasting a lot of time.

I agree with this, Not just because you fail as a trader you will just jump out being a trader to become an investor. As a matter of fact, being an investor is much harder than being a trader, why? Because as a trader you have the control on everything from the money flow to decisions unlike being an investor that you'll just sit waiting around until the investment clicks that is why being an investor needed more skill than being a trader. In the end it's your choices that matters, so be wise on making your decisions every time.

[BuNga_cute]

In my opinion the best advice for all traders is to be able to control the emotions that we have. Because sometimes we as traders often
carries emotions when trading. For example, because market prices suddenly go down, our emotions start to be affected, we panic, then
we can't think calm and clear. Because of panic, we immediately sell all the coins and experience a substantial loss, even though if can
control emotions. We will not sell suddenly, be calm learn the market first. Sometimes the price drops, not long the price can go up again
suddenly too. In the end we don't have to suffer losses if we can control our emotions.

[cotton ball]

Usually, we are trading with market, and we have our own trading logic. But , after you are trading for a long time , you will find you are trading with yourself and the biggest enemy is you.

You may have a good trading logic , and you always earning money from the market , but you are still afraid of lossing, am i right?

Every trader should believe in his own trading logic just like a belief, you can't move it. Lossing are not terrible and you should like it.

So i have some advices:

1. make sure you are believe in your trading logic
2. record the reason when you open trade
3. take profit and stop loss strictly
4. back to the records when you close trade, and think why you are earning or lossing
5. according to the records , if you find something wrong with your trading logic, fix it
6. add your trade into a trade journal (advice from @GreatArkansas)
7. do the things 1-6 above again


Does any trader record the reason of opening trade? And how do you guys practice it? Let's talk about it.

Many trader when looking their trading assets have higher price keep holding and waiting with more higher price again until down and exactly when assets have lower price never take for cut lost, they have never want to adopt with take profit and stop loss strictly because still greed with trader and keep trusted with their coin assets back with higher price.

[johnwest]

Reading is the first step for successful trading, you need to know allot of things in order to make profit regularly in trading. Also people use different strategies as some are aggressive and try every experiment and some do long term holding. Also be careful of sudden pumps or dumps of Bitcoin as alts will go down whenever there is a fluctuation.

[Innocant]

5. according to the records , if you find something wrong with your trading logic, fix it

All of you mention are more important for us if we doing in trading.
And Ill agree with this number 5 in your list, Because they have time we are make some mistake in trading on why we are losing some profit in trading.
So we need have some records of which are we have wrong for trade, So that we can fix it early and avoid it if we trade again.

It was risky if we are in trading situation so thats why we need more plan and strategy for trading.

Being new in trading I really don’t know enough about trading but as per my short time experience I think you said all right things that we should try to make list of our mistakes and we should know about good time to trade. We should be aware of time to purchase and time to sell. Trading as a newbie is good for long term and avoid being so emotional.

Their are time we cannot make sure if we are newbie and choosing for those long term that you mean.
Because we need have time find away on how to earn, Must better to start in short term and slowly to learn in trading than those long term that we only focus in one. But it depends on us of were we are comfortable.

Being emotional in trading it was part on us but we need to control on the time.