Trading Practices and habit

[pooya87]

trading is 90% about having a good understanding of the market and having a good analysis and most importantly a good plan and 10% about unexpected things that happen in the market.
in my experience when someone keeps checking prices multiple times a day it is a sign of not having a good plan and in most cases those people are gambling not trading which is why they keep checking to see what the result of their "bets" are. i have been like this which is why i say this.
a good plan is when you buy at a price and have an exit strategy and some automation for the "stop loss" which eliminates needing to check the price constantly. for example you buy some shitcoin while it is starting to pump and then set a sell order (or a couple) at a price you want to exit like 30% higher than current price and be done with it (30% being the result of the analysis of the market at that point).

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[michellee]

I don't have a habit of trading because right now, I feel it is difficult to enter the market. After all, the market is running without I can predict. So I don't trade every day, but I will check before I purchased, and if I think that I can see the chance to buy at a low price, I will buy it, but if the market is unstable, I will decide to leave the market. That will help me to avoid the loss because I don't think that I need to force myself to enter the market if the situations are not right.

[bitgolden]

Just only considering the market prices might not be enough to keep you close to the markets. You have to make a deep analysis before moving onto trades as it is something which would make you earn profits in trading. You have to start thinking exactly similar to how most of the professionals think about the markets.

You could not have profits by just keeping a watch on the price by buying at the dip and waiting for the price to pump back so that it could give you some instant profits. This might give you profits for the initial stage but as you move forward in trading, you would even face some major loss by not using proper trading skills. You have to build various habits like staying active in various chatrooms, learning how the charts and patterns work, making deep technical analysis and even fundamental analysis, etc.

[pragna]

I've been trading for a long time and I've been wondering about other trading practices and habits. It's been years since I started to trade cryptocurrencies and I built some and practices like when I wake up every morning the thing I will do first in the morning is to get my phone and check the market price of the coins/tokens I have, I built a practice on checking the price each time I got extra time or when I think too, I don't have a single day without doing this practice unless it has a certain circumstance like having no power in my device.

What are the trading practices that you have built over the countless trades you have?

Same here. I also do same thing in every morning because every time is very important for traders. We have to keep eyes on market and i also make coin price crossing alert so that when it cross that limit, they warn me it may be day or night.

thanks.

[TrevorS]

I am not a supporter of checking market prices in the first hour after waking up. Immediately after waking up, I take care of myself for about an hour. If suddenly the market prices have changed a lot, I will receive a notification that will tell me about it, in all other cases I start my day with morning rituals. Such as sports, education and meditation.

[semobo]

Actually,checking the prices of crypto currencies at every morning is not a weird or special habit,almost 9/10 crypto investors will do that even if they don't have any intentions of doing trades on that day.But what I do is something which is not done by everyone, I often try checking some cryptos prices on different exchanges so that I can able to arbitrage trading and get some quick profits.

[Kasabus]

I am not a supporter of checking market prices in the first hour after waking up. Immediately after waking up, I take care of myself for about an hour. If suddenly the market prices have changed a lot, I will receive a notification that will tell me about it, in all other cases I start my day with morning rituals. Such as sports, education and meditation.

It is not my habit too to check often the price chart because it will only ruin my day once i have found out that all my coins are dumping. What i often do is to research more on the different news that might affect the crypto market so i will have an idea if this is a good timing or not for trading. I always make my own analysis on the market so i will have my own guidelines on the next step i will be taking.

[TitanGEL]

I've been trading for a long time and I've been wondering about other trading practices and habits. It's been years since I started to trade cryptocurrencies and I built some and practices like when I wake up every morning the thing I will do first in the morning is to get my phone and check the market price of the coins/tokens I have, I built a practice on checking the price each time I got extra time or when I think too, I don't have a single day without doing this practice unless it has a certain circumstance like having no power in my device.

What are the trading practices that you have built over the countless trades you have?

There are habits that formed when I started trading, I also always checking my portfolio when I wake up every morning. I also do charting every morning in order for me to know the entry and exit points that I can use to get or sell my positions. There are a lot of good habits that formed because of trading, I also keep reading different books and vlogs that can help me to become profitable trader.

[rodskee]

I've been trading for a long time and I've been wondering about other trading practices and habits. It's been years since I started to trade cryptocurrencies and I built some and practices like when I wake up every morning the thing I will do first in the morning is to get my phone and check the market price of the coins/tokens I have, I built a practice on checking the price each time I got extra time or when I think too, I don't have a single day without doing this practice unless it has a certain circumstance like having no power in my device.

What are the trading practices that you have built over the countless trades you have?

Don't you have some alerts about the tokens/coins in your folio?
i am not that Trade
 because i tend to try but i lose though i still doing it when there is a good signal from my expert trader
friends so with His advice i am going with him but of course not perfect sometimes i lose but mostly gaining
even small amount.but about Habits?i think like you i am always looking at the chart of my Holdings because this is how
 i am expecting growth in semi long term strategy.

[Dr.Osh]

I think I also have a habit similar to that. Well, every day I do a price check, and I do that when I wake up. however, for those who have known crypto from year to year, it seems to have the same habit, namely, there is no day not to practice trading.

[qory]

Trading do not are about how long you have been there because only thinks how lucky you are when trading, many people look easy before start trading but when buying some coin they will know how hard is it after checking and investing with some coin.

[Ridwan Fauzi]

I do the same thing and so far every I woking up for the first time I looking for is my phone and see the movement pricr of cryptocurrency, that thing is being my habit. I just interested to see the price movement because its volatility price. Because priviously I'm a forex trader and I never do that, I just see the movement price and make an analyst when I ready to entry. Also, I get used to trade at dawn, I don't know that this time is more effective to trade. Maybe that is my lucky time, I often to get profit and just a few time I got lose.

[Reatim]

i Use no habits because i am doing my own research everytime i plan to trade (because i only do this occasionally).

but the main thing i never forget if talking about trading?and that is not to listen to those shit signal provider because all of them are scammers and liars lol

I think I also have a habit similar to that. Well, every day I do a price check, and I do that when I wake up. however, for those who have known crypto from year to year, it seems to have the same habit, namely, there is no day not to practice trading.

but in this season?when market is really in diving deep?i think this habit is not necessary because we will only become frustrated and stressed in prices.

[Sternbinder]

It seems to me that basically my strategy is to plan every step. Because this is what allows me to always be well oriented to the current situation and to make decisions that can lead me to my goal. It means that at the beginning of the month I think over a specific action plan, review my long-term forecasts, find assets with the greatest potential for movement. Of course, I can't say that everything always coincides with the planned plan. Of course, sometimes I make certain corrections, like what just happened in the background of the virus. And it is normal, everyone will agree that the market often makes its corrections. The main thing here is also to remain flexible with all this. Because sometimes there is nothing wrong with taking a step back and looking around.

[Hulhala15]

It's very difficult to describe the whole system of actions that help you come to an intelligent solution. Because it consists of a huge number of indicators. In fact, first of all I look through the charts, find the most advantageous situation, look through the levels on different timeframes to determine when I should buy a position and understand how long it will take for the price to reach the predicted level. I check this on several indicators, by the way I use different ones for different assets. After that I determine the amount, in percent and figures. And accordingly I buy. I check the situation several times a day. As a rule, in the morning, in the afternoon and closer to the evening. In addition, I regularly look into the economic calendar in order not to miss some important price jump and not to find myself in an unforeseen situation ...

[DevilSlayer]

I love analyzing charts so it is simply by doing technical analysis, it became one of my daily habits where I often find opportunities in the market. Reading books also became my habit where I already finished 5 books in this current year, my target is 15 books in this year and I think I can surpass it if I will continue to allocate most of my time in reading of books.

[kolbalish]

If you yearn to be a good trader, you have to put enough exertion into it. its called practice. And when you become a good trader and get achievement, then the practice evolves a habit. The practice is your activity. And the success that depends on the activity becomes a habit for a while.

[Dragonfund]

What are the trading practices that you have built over the countless trades you have?

This isn't a habit to me, it's just what you are used to and nothing else.
Just like me, if I open I long/short a position before going to bed, the first thing I do in the morning is to check my phone if my predictions were right or right -loss was hit. It get to time that I dreamed about trading in my sleep, that's your life and its already part of it.
Remember our brain reflects what we do in day when sleeping.

[Renampun]

You don't push yourself too much...
becoming a professional trader is not a one-night job, it takes years of patience training so you can make the best decisions. the point is focus, be patient and don't panic when trading.

If you yearn to be a good trader, you have to put enough exertion into it. its called practice. And when you become a good trader and get achievement, then the practice evolves a habit. The practice is your activity. And the success that depends on the activity becomes a habit for a while.

You should be more specific about what practice to do!!!

[rexxarofmoknathal]

I've been trading for a long time and I've been wondering about other trading practices and habits. It's been years since I started to trade cryptocurrencies and I built some and practices like when I wake up every morning the thing I will do first in the morning is to get my phone and check the market price of the coins/tokens I have, I built a practice on checking the price each time I got extra time or when I think too, I don't have a single day without doing this practice unless it has a certain circumstance like having no power in my device.

What are the trading practices that you have built over the countless trades you have?

Thanks for sharing with us some of your trading practices. From what you're telling. me your practice of checking the market every morning and every day, as often as you can sounds a little too much - make sure you don't push yourself into disappear or worse get under a lot of stress.

If you get stressed out often about your investments not going so well, try maybe a stop-loss of give yourself a deadline until you'll either leave the market to its own devices and check after a few days or just consider a change of mindset that if the market is going down it will probably end up going back up again. 

If unsatisfied by this then judge and plan for an exit strategy where you get out at the min. profit/loss you'll be happy to live with. These are all practices not to get too wrapped up in all these investments and saving time, plus reducing stress.