A good advice for every traders.

[Twentyonepaylots]

It was quite a while since I've updated my #6. I stopped day trading because I wasn't having enough time to do and learn the ropes of in-depth day trading plus it isn't a pleasant start so I was kinda demotivated to continue day-trading 5 different coins in Binance. That was the exchange that where I day traded first.

Glad you stopped a while in trading in the past months because it is very tragic, really.  I have lost my 30% capital in the past month due to too much confidence with my analysis, I expected the market to plummet approaching the holiday season since people are getting their extra pays for this year. With this kind of market Binance who has the biggeat trading volume is the best option you got coz you'll have a huge chance than the lower trading volume exchanges.

[doomloop]

It was quite a while since I've updated my #6. I stopped day trading because I wasn't having enough time to do and learn the ropes of in-depth day trading plus it isn't a pleasant start so I was kinda demotivated to continue day-trading 5 different coins in Binance. That was the exchange that where I day traded first.

Glad you stopped a while in trading in the past months because it is very tragic, really.  I have lost my 30% capital in the past month due to too much confidence with my analysis, I expected the market to plummet approaching the holiday season since people are getting their extra pays for this year. With this kind of market Binance who has the biggeat trading volume is the best option you got coz you'll have a huge chance than the lower trading volume exchanges.

There were indeed high hopes from the market by the end of the year as you quoted the reason for these hopes and that was the very reason there were speculations about the increase in the values of cryptos by the start of December but the market is still not showing any positive signs for sellers. It is favoring only buyers. I will suggest you simply holding onto your coins and do trading only with altcoins.

[yarlungzangbo]

It was quite a while since I've updated my #6. I stopped day trading because I wasn't having enough time to do and learn the ropes of in-depth day trading plus it isn't a pleasant start so I was kinda demotivated to continue day-trading 5 different coins in Binance. That was the exchange that where I day traded first.

Glad you stopped a while in trading in the past months because it is very tragic, really.  I have lost my 30% capital in the past month due to too much confidence with my analysis, I expected the market to plummet approaching the holiday season since people are getting their extra pays for this year. With this kind of market Binance who has the biggeat trading volume is the best option you got coz you'll have a huge chance than the lower trading volume exchanges.

90% win rate means when you traded 5times you only have 59% win rate to win these 5times trading. So keep less your do, and think more about yoursel/market.

[yarlungzangbo]

Another thing is that anyone who wants to be a trader needs to consider the coins they choose. There are lots of coins in the market, and some of them have a huge market cap, whereas others have a market cap that is smaller. You should know what these means for every coin. If you're choosing a coin that has a smaller market cap then you should know that they are vulnerable to wild volatility, but coins with bigger market caps are not.

The next thing one has to check is the trading volume, trading volume is a very important thing to check for. And as you have said, using stop losses and pre-determined levels taking profits is very important.

Overall there are infinite aspects and factors, every trader must need to focus and should be being conscious while trading. No one could list out all of them as covering each and everything could be possible only be experience. This is the reason why professional traders are suggesting about continuous learning as the only way to be staying competitive in trading field.

Yeah, you are right. The succeed people who get good profit in trading, they only believe in some good subject. We always heared some story about bitcoin make people rich, but we few to hear the story about altcoins make people rich. Lol. If someone new trader want to earn money, just buy bitcoin

[Pinkris128]

Another thing is that anyone who wants to be a trader needs to consider the coins they choose. There are lots of coins in the market, and some of them have a huge market cap, whereas others have a market cap that is smaller. You should know what these means for every coin. If you're choosing a coin that has a smaller market cap then you should know that they are vulnerable to wild volatility, but coins with bigger market caps are not.

The next thing one has to check is the trading volume, trading volume is a very important thing to check for. And as you have said, using stop losses and pre-determined levels taking profits is very important.

Overall there are infinite aspects and factors, every trader must need to focus and should be being conscious while trading. No one could list out all of them as covering each and everything could be possible only be experience. This is the reason why professional traders are suggesting about continuous learning as the only way to be staying competitive in trading field.

Yeah, you are right. The succeed people who get good profit in trading, they only believe in some good subject. We always heared some story about bitcoin make people rich, but we few to hear the story about altcoins make people rich. Lol. If someone new trader want to earn money, just buy bitcoin

In my own point of view, we should not focus only in bitcoin because it is much better to split our profit to avoid huger risk, especially when we are facing a bear market. If you will choose a coin you better invest your money in top coins in the market for you not to worry to much. When you are trading, you also need to control your emotions, especially when the price of your coin is down, so that you will not panic sell and will not have any regrets.

[wajik-tempe]

It was quite a while since I've updated my #6. I stopped day trading because I wasn't having enough time to do and learn the ropes of in-depth day trading plus it isn't a pleasant start so I was kinda demotivated to continue day-trading 5 different coins in Binance. That was the exchange that where I day traded first.

Yeah we need to really motivated to do a day trading with this current condition of the market, if we really good enough at trading i'm sure we still can earn money from it but the chance is so low due to more coins are down compared to rising coins. Hope next year will be good for day trading and hoping bitcoin price is rising too.

[Meowth05]

It was quite a while since I've updated my #6. I stopped day trading because I wasn't having enough time to do and learn the ropes of in-depth day trading plus it isn't a pleasant start so I was kinda demotivated to continue day-trading 5 different coins in Binance. That was the exchange that where I day traded first.

Yeah we need to really motivated to do a day trading with this current condition of the market, if we really good enough at trading i'm sure we still can earn money from it but the chance is so low due to more coins are down compared to rising coins. Hope next year will be good for day trading and hoping bitcoin price is rising too.

I do also think that it is not the right time to day trade due to some reason that most of the coins are dump and not making any big movement. The perfect time for daily trade in my opinion is if market is in balance state where not downtrend or uptrend. Anyway, I think after the halving we might see a bit difference so just grip for a moment until the right time comes.

[Subbir]

I do also think that it is not the right time to day trade due to some reason that most of the coins are dump and not making any big movement. The perfect time for daily trade in my opinion is if market is in balance state where not downtrend or uptrend. Anyway, I think after the halving we might see a bit difference so just grip for a moment until the right time comes.

Day trade is admittedly profitable as a result of we will create heaps of profit during a short amount of your time thus we regularly like day trade. However, in some cases the quantity of vaccines becomes too high and lots of suffer from depression. However, it's true that folks like day trade over long trade.

[Stargazer]

Even if you follow all the tips from here then you can't ensure a safe and profitable trading life for a longer time. Trading doesn't follow some certain rule but yes I agree that these tips are helpful to learn and realize the trade and these will be helpful for the newbies. To make good in trade you have to have patience and brave.

[Bezobraznike]

Even if you follow all the tips from here then you can't ensure a safe and profitable trading life for a longer time. Trading doesn't follow some certain rule but yes I agree that these tips are helpful to learn and realize the trade and these will be helpful for the newbies. To make good in trade you have to have patience and brave.

   Because there are no guarantees in trading. There are no strict rules to follow to make profit, there is just market that change
directions constantly. Traders are trying to predict this changes, and nobody makes profit all the time.
   Patience is for long-term investing. It's when you believe in the future of some coin. Short-term trading is about speed, to be
faster than others, to sell before others and buy before others, and to have good timing for both.

[ChronoLite]

Even if you follow all the tips from here then you can't ensure a safe and profitable trading life for a longer time. Trading doesn't follow some certain rule

Yes correct, we make our rules and we make our own strategies. You can't follow someone advice as they are the only who knows how to do their own strategies and that's why majority of the time that someone follows others strategies are having a big failure.

but yes I agree that these tips are helpful to learn and realize the trade and these will be helpful for the newbies. To make good in trade you have to have patience and brave.

Newbie should not follow those strategies to be honest, too complicated and they won't even bother to do it.

[yarlungzangbo]

Even if you follow all the tips from here then you can't ensure a safe and profitable trading life for a longer time. Trading doesn't follow some certain rule

Yes correct, we make our rules and we make our own strategies. You can't follow someone advice as they are the only who knows how to do their own strategies and that's why majority of the time that someone follows others strategies are having a big failure.

but yes I agree that these tips are helpful to learn and realize the trade and these will be helpful for the newbies. To make good in trade you have to have patience and brave.

Newbie should not follow those strategies to be honest, too complicated and they won't even bother to do it.

why? do you have any better?

[TitanGEL]

Even if you follow all the tips from here then you can't ensure a safe and profitable trading life for a longer time. Trading doesn't follow some certain rule but yes I agree that these tips are helpful to learn and realize the trade and these will be helpful for the newbies. To make good in trade you have to have patience and brave.

   Because there are no guarantees in trading. There are no strict rules to follow to make profit, there is just market that change
directions constantly. Traders are trying to predict this changes, and nobody makes profit all the time.
   Patience is for long-term investing. It's when you believe in the future of some coin. Short-term trading is about speed, to be
faster than others, to sell before others and buy before others, and to have good timing for both.

There is no guarantee to win in trading if your knowledge is not enough but if you are knowledgeable enough then you can use your head on how you will win in trading. Traders are losing because they are not trained in trading where they just trading without any kind of strategy and studies. We can be prepared anytime if we have a lot of information about trading. Predicting is impossible but forecasting is possible in trading.

[Shimmiry]

Even if you follow all the tips from here then you can't ensure a safe and profitable trading life for a longer time. Trading doesn't follow some certain rule but yes I agree that these tips are helpful to learn and realize the trade and these will be helpful for the newbies. To make good in trade you have to have patience and brave.

   Because there are no guarantees in trading. There are no strict rules to follow to make profit, there is just market that change
directions constantly. Traders are trying to predict this changes, and nobody makes profit all the time.
   Patience is for long-term investing. It's when you believe in the future of some coin. Short-term trading is about speed, to be
faster than others, to sell before others and buy before others, and to have good timing for both.

There is no guarantee to win in trading if your knowledge is not enough but if you are knowledgeable enough then you can use your head on how you will win in trading. Traders are losing because they are not trained in trading where they just trading without any kind of strategy and studies. We can be prepared anytime if we have a lot of information about trading. Predicting is impossible but forecasting is possible in trading.

When you are just starting in trading, you need to have enough knowledge and skills; there are some few tips if you are beginning in trading. First is you must know about trading even you already have an idea still you need to know the other transaction inside the trading, always seek for the new and use this as an advantage to the other trader. Second, choose the best method that is suited to your trading to make sure you will not lose on your trade; one of the common mistakes of the beginners is investing on the coin that is not for long term or short term trading. In short term trading, this is for altcoins that you can go for daily trading or long term trading that is for bitcoin because the price will change before a long time. Lastly is be confident on your trade most of the time traders are afraid of losing income on their wallets and pulling out immediately their money.

[gabbie2010]

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. do the things 1-5 above again


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

Yes, I do it every day. I am also a newcomer here and I want to trade better after a few months so I decided to follow the instructions of the previous ones. They tell you to keep a record of your transactions every day for a full reason. when you lose, you still have to do it so after 3 months, you will have something to read and understand where you went wrong. Besides, taking notes shows that you are a well disciplined person and it will create a habit, it will make you love your work more and it will soon make you more professional.

My mentor is also said that my enemy in trading is myself.  Even if I created the best plan but I failed to execute it, I will suffer losses. We need to be discipline and for us to achieve that our focus should be improving our trading psychology where we can understand our emotions and thoughts. By doing that our trading skills and our mentality will improve and we can have better outcomes.

Discipline is my major enemy in my trading journey this is an area I need to work on, my plan as a binary options trader do work but greediness wouldn't allow me to stop trading for that day until I started incur losses, My trading psychology needs orientation too it would surely makes me a better trader I really valued all those advices.

[asus09]

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. do the things 1-5 above again


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

Yes, I do it every day. I am also a newcomer here and I want to trade better after a few months so I decided to follow the instructions of the previous ones. They tell you to keep a record of your transactions every day for a full reason. when you lose, you still have to do it so after 3 months, you will have something to read and understand where you went wrong. Besides, taking notes shows that you are a well disciplined person and it will create a habit, it will make you love your work more and it will soon make you more professional.

My mentor is also said that my enemy in trading is myself.  Even if I created the best plan but I failed to execute it, I will suffer losses. We need to be discipline and for us to achieve that our focus should be improving our trading psychology where we can understand our emotions and thoughts. By doing that our trading skills and our mentality will improve and we can have better outcomes.

Discipline is my major enemy in my trading journey this is an area I need to work on, my plan as a binary options trader do work but greediness wouldn't allow me to stop trading for that day until I started incur losses, My trading psychology needs orientation too it would surely makes me a better trader I really valued all those advices.

Discipline most important have adopted by every trader when they have watching and analyze with bitcoin and altcoin price and keep exist with how much profit target earn, many trader looks greed when their coin trading have raise with higher price and want keep holding until get much profit, but the have make big mistake because some coin after raise with higher price become down and never up again.

[Kelvinid]

Even if you follow all the tips from here then you can't ensure a safe and profitable trading life for a longer time. Trading doesn't follow some certain rule but yes I agree that these tips are helpful to learn and realize the trade and these will be helpful for the newbies. To make good in trade you have to have patience and brave.

   Because there are no guarantees in trading. There are no strict rules to follow to make profit, there is just market that change
directions constantly. Traders are trying to predict this changes, and nobody makes profit all the time.
   Patience is for long-term investing. It's when you believe in the future of some coin. Short-term trading is about speed, to be
faster than others, to sell before others and buy before others, and to have good timing for both.

It runs by our own understanding and strategy. May we learn from the other's way of perspective but it the end, we are still the ones who manage our account. In fact, blaming oneself and regrets are also common to us but from that, it gives a huge impact on our future trading journey.
If we would like to win/achieve something, we must have to work on it.

[EdvinZ]

I do also think that it is not the right time to day trade due to some reason that most of the coins are dump and not making any big movement. The perfect time for daily trade in my opinion is if market is in balance state where not downtrend or uptrend. Anyway, I think after the halving we might see a bit difference so just grip for a moment until the right time comes.

Day trade is admittedly profitable as a result of we will create heaps of profit during a short amount of your time thus we regularly like day trade. However, in some cases the quantity of vaccines becomes too high and lots of suffer from depression. However, it's true that folks like day trade over long trade.

Maybe day trading is profitable for you, but for me personally, this process is unprofitable. I tried day trading, but did not succeed in this. Maybe I just was uneducated for this. All of these indicators, patterns, technical analysis. It's all so difficult really. Investing for the long term is much easier, it is a way for the lazy, but it also does not guarantee a profit.

[Yamifoud]

I do also think that it is not the right time to day trade due to some reason that most of the coins are dump and not making any big movement. The perfect time for daily trade in my opinion is if market is in balance state where not downtrend or uptrend. Anyway, I think after the halving we might see a bit difference so just grip for a moment until the right time comes.

Day trade is admittedly profitable as a result of we will create heaps of profit during a short amount of your time thus we regularly like day trade. However, in some cases the quantity of vaccines becomes too high and lots of suffer from depression. However, it's true that folks like day trade over long trade.

Maybe day trading is profitable for you, but for me personally, this process is unprofitable. I tried day trading, but did not succeed in this. Maybe I just was uneducated for this. All of these indicators, patterns, technical analysis. It's all so difficult really. Investing for the long term is much easier, it is a way for the lazy, but it also does not guarantee a profit.

Trading isn't for everyone and it means that trading isn't meant for you as well. We know trading could be a tough job and it requires ample time in order to understand clearly but before doing it, let us also examine ourselves if we are ready for any consequences that may happen in the future. Cause if we feel uncomfortably doing this at the very beginning, I suggest not to continue in trading and stop dreaming to become a professional trader, it only getting far from reality.

[Karmakid]

I do also think that it is not the right time to day trade due to some reason that most of the coins are dump and not making any big movement. The perfect time for daily trade in my opinion is if market is in balance state where not downtrend or uptrend. Anyway, I think after the halving we might see a bit difference so just grip for a moment until the right time comes.

Day trade is admittedly profitable as a result of we will create heaps of profit during a short amount of your time thus we regularly like day trade. However, in some cases the quantity of vaccines becomes too high and lots of suffer from depression. However, it's true that folks like day trade over long trade.

Maybe day trading is profitable for you, but for me personally, this process is unprofitable. I tried day trading, but did not succeed in this. Maybe I just was uneducated for this. All of these indicators, patterns, technical analysis. It's all so difficult really. Investing for the long term is much easier, it is a way for the lazy, but it also does not guarantee a profit.

Trading isn't for everyone and it means that trading isn't meant for you as well. We know trading could be a tough job and it requires ample time in order to understand clearly but before doing it, let us also examine ourselves if we are ready for any consequences that may happen in the future. Cause if we feel uncomfortably doing this at the very beginning, I suggest not to continue in trading and stop dreaming to become a professional trader, it only getting far from reality.

I agree with this. If you are an emotional type of trader or person then it will become a hard thing for you to become a profitable trader. That was one of the example of traits that are not compatible to become a trader and it is indeed not for everyone. People should accept it and only stick to the things that are working for them.