A good advice for every traders.

[doomloop]

Even when your trading logic is solid, and based on watching other successful people, following the logic is the hardest part. It's simply not that easy, emotions get in the way.

Being emotional is not a good thing in trading but we should trade with good senses and overcome greed in trading. We decide to trade then will have to follow the rules as well. We saw so many successful people in the trading journey but we can’t trust them all just make proper research while trusting any trading person even if he is the most successful trader but trade only with your own knowledge.

Being creed and emotional in trading are not good once you enter in trading you should over come that to get a good profit. Manu traders are emotional once they see there holdings that drop the price. And many are become creed when they feel that they are lose big and they want to overcome this. Own knowledge is very important to trader.

Yeah never get your mind under the control of greed. Especially beginners want to gain quick profits. They should be careful about the fact that they are very new in this business and they do not know about the techniques adopted by the big traders. In the greed and wish to get huge amount of profit in short period of time they take wrong decisions and face big loses. Think from the mind not from the heart and wait for a good time for good profits.

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[Kevondo]

that is very good advice, there are many ways to manage it but the most important thing in my opinion is how to control greed when profit and panic when lose, most of traders are eaten by greediness

Manage yourself and your trade also. Hard times are also the part of trade, but how you manage to deal with it is very important. Very good traders sometimes panic in hard times, they just take the dumb in the price as the end of world and are not able to manage the situation. If you have make the decision of investment and with the big heart have invested your hard earned money in trade, show some more capabilities by managing everything with patience and care.

[Ethereums]

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.

Good advice brother, every traders biggest enemy is their own psychology. no matter short or long term, everyone had their strategy and analyst but when it goes to psychology they must strict. I had many experience which left me feel remorse back then, like why i buy at this point etc, but mostly is cause of greed i forgot my take profit point and want it more which left me burned after that. At this moment patience is very hard things to do, especially when price got sideways on this weekly.

[Visbay]

that is very good advice, there are many ways to manage it but the most important thing in my opinion is how to control greed when profit and panic when lose, most of traders are eaten by greediness

Yes, good traders must have the patience for being rich or for earning money if they will be greedy and they will try to get rich faster they maybe lose all their money and suffer loose. So we should try to keep waiting if the market is not good for you. Trading is always profitable but we should keep patience and control our greed in trading its important thing in trading.

[wildan88]

that is very good advice, there are many ways to manage it but the most important thing in my opinion is how to control greed when profit and panic when lose, most of traders are eaten by greediness

Yes, good traders must have the patience for being rich or for earning money if they will be greedy and they will try to get rich faster they maybe lose all their money and suffer loose. So we should try to keep waiting if the market is not good for you. Trading is always profitable but we should keep patience and control our greed in trading its important thing in trading.

actually by having the science of trading, we will understand the situation we face, so it will not make us panic or be greedy. because when you have science of trading you know when to enter and exit the market and of course self-control is most important because it can minimize all these problems.

[Bagaji]

"Invest only what you are afford to loose."
This was the first advice I had got from my teacher and will tell the same thing to everyone whose trying to start trading in any manner.

Go with your instincts. Logic is not perfect.

From your submission above you strongly believe that what ever trade you place you have a mind that you will lose your trade. If truly that if what you were thought and you believe it then you are trading like playing gambling.

[Ailmand]

Those are powerful advice which is applicable for most traders who are afraid of taking the risks in trading. We should accept the fact that there's no perfect trading journey and there will always be losses along the way but we have to deal with it. There will always be lapses and mistakes but we should always learn from it to do better next time.

[MWesterweele]

You should never allow your emotions take control of your intellect. I think emotions should be kept away when you are trading. If you are very emotional then a quick dump and lose can give you nervous breakdown. When you a solid logic and you are following experienced people you will achieve your target. Just set your mind before starting any trade that you will either win or lose, but both will add to experience. Positive hopes will keep you going.

This is one of the golden rule of traders. We need to manage our emotions because as we can see it really affects all the things in our life and it makes us frustrated and miserable. If we are not in good mood or in stable emotion better not to trade same as to gambling. We need to learn that we can only invest the money that we can afford to lose as well.

[pajak666]

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.

Some thoughts:
ad1. Get a strict set of rules.. don't try to rationalize everything as you can always find a logical reason to follow with your action
ad2. this is similar to 1. get a set of rules and simply don't trade if the criteria are not met
ad3. stop loss is meh, take profit based on your set of rules
ad4. thsi is quite obvious, you gotta learn to improve. if you don't, then others do and outplay you. staying in place is moving backwards.
ad5. is the same as 4
ad6. journal is a must. if you don't have your notes online on the chart then you need to keep it in a journal. it is a good idea even if you keep other type of reminders.
ad7. let's

[Janation]

Even when your trading logic is solid, and based on watching other successful people, following the logic is the hardest part. It's simply not that easy, emotions get in the way.

Being emotional is not a good thing in trading but we should trade with good senses and overcome greed in trading. We decide to trade then will have to follow the rules as well. We saw so many successful people in the trading journey but we can’t trust them all just make proper research while trusting any trading person even if he is the most successful trader but trade only with your own knowledge.

I think investors already know this.

New investors should be wary of this. As cryptocurrencies are very volatile, we should not be calm on the pump, hence we should be ready to what might happen in the future. You know, the best thing that an investor can do is read and read and read. Knowledge can help you a lot, it could make anyone rich to be honest.

[crisanto01]

Even when your trading logic is solid, and based on watching other successful people, following the logic is the hardest part. It's simply not that easy, emotions get in the way.

Being emotional is not a good thing in trading but we should trade with good senses and overcome greed in trading. We decide to trade then will have to follow the rules as well. We saw so many successful people in the trading journey but we can’t trust them all just make proper research while trusting any trading person even if he is the most successful trader but trade only with your own knowledge.

I think investors already know this.

New investors should be wary of this. As cryptocurrencies are very volatile, we should not be calm on the pump, hence we should be ready to what might happen in the future. You know, the best thing that an investor can do is read and read and read. Knowledge can help you a lot, it could make anyone rich to be honest.

It is important for investors to remind always, as a crypto member, it is always our moral obligation to at least help each other as we also don't want someone to be a victim of scam or any kinds of fraud.  We've been there before and with the help of other people, we learned, if not for other people maybe we are still investing in new projects, trying and trying our best.

[cotton ball]

One way technique for trader always use your money for investing with several potential coin and never invest and hold only with one coin, I think if you have 1 bitcoin you can invest several altcoin kinds and use 0,1 btc each your coin investing, maybe take worth for getting profit and stop lost when your coin assets not reach with higher price.

[LUCKMCFLY]

Even when your trading logic is solid, and based on watching other successful people, following the logic is the hardest part. It's simply not that easy, emotions get in the way.

Being emotional is not a good thing in trading but we should trade with good senses and overcome greed in trading. We decide to trade then will have to follow the rules as well. We saw so many successful people in the trading journey but we can’t trust them all just make proper research while trusting any trading person even if he is the most successful trader but trade only with your own knowledge.

Based on the fact that emotions often move the market, we must learn to have enough agility to know when the movements occur because of emotions and when it is the action of whales, whales may often place their bullish traps, the trader Who learns to see this kind of movements, will have long-term gains. This type of teaching is what the great famous speculator Jesse Livermore advises in his books, although it was applied in the stock market between the years (1800-1923) they are currently valid and applied to the Bitcoin market.

[Btc_1856]

that is very good advice, there are many ways to manage it but the most important thing in my opinion is how to control greed when profit and panic when lose, most of traders are eaten by greediness

Agree, we should manage our emotions because through controlling we might place best orders when we make profits we should use the profit wisely otherwise it is impossible for us to recover from the loss. In crypto, money management will play an important role in trading.

[nydiacaskey01]

Agree, we should manage our emotions because through controlling we might place best orders when we make profits we should use the profit wisely otherwise it is impossible for us to recover from the loss. In crypto, money management will play an important role in trading.

Even if you know how to manage your emotion, if you lack knowledge in selecting which coin is good to buy at the right time, that will be useless. You will just end up buying coins that you think based on your controlled emotion is good. Knowing how to read graphs and using tools in trading is essential, then next is controlling your emotions.

[Kevondo]

Those are powerful advice which is applicable for most traders who are afraid of taking the risks in trading. We should accept the fact that there's no perfect trading journey and there will always be losses along the way but we have to deal with it. There will always be lapses and mistakes but we should always learn from it to do better next time.

Lose and mistakes do not take your trading away from perfection. As every picture has two sides, everything has advantages and disadvantages, trading also have both profits and loss. Mistakes make things more clear for you than before and make you even stronger. The best part of your life is first noticing and then accepting those mistakes, and starts your journey toward a productive end.

[SARA ISLAM]

Great idea record the reason when you open trade, I will start today recording why opening a trade I agree with you everyone should need to do record his/her trading for accurate his/her trading strategy.

[Webetcoins]

that is very good advice, there are many ways to manage it but the most important thing in my opinion is how to control greed when profit and panic when lose, most of traders are eaten by greediness

Agree, we should manage our emotions because through controlling we might place best orders when we make profits we should use the profit wisely otherwise it is impossible for us to recover from the loss. In crypto, money management will play an important role in trading.

Not only in crypto but money has to be managed wisely in every field of life because money is the only thing which can help you solve your problems and in many cases it is able to find to your happiness as well. I am basically of view that when one earns a profit in crypto market, that is the real time when one needs to show good control over emotions because that profit is the key for future investments. 

[Cacingkemi]

One way technique for trader always use your money for investing with several potential coin and never invest and hold only with one coin, I think if you have 1 bitcoin you can invest several altcoin kinds and use 0,1 btc each your coin investing, maybe take worth for getting profit and stop lost when your coin assets not reach with higher price.

combining to invest in some potential coins can certainly vary the profits we will get. the profit we get from trading will indeed be better used to buy back some potential coins so that it can be interesting to multiply the bigger profits

[plvbob0070]

Learn to know all basic about trading, charts, indicators and many more. This things is very important if you're going to enter to this field and upon reading some post of other members it seems they also said to control our emotions. Besides, our emotion have a very important role in our trading activity and when you let your emotion win and you can't control it, it will result to your big losses and can even lead to your bankcrupt. I'm not a good trader and I  am still learning more things about trading but if you are a newbie you should stick your investment within the top-performing cryptocurrencies in the market.