The right mindset needed for all traders

[lienfaye]

Well you got it right but being patients when trading may still ruin one, I think being smart is better, you maybe patients and miss out or be patience and still gain, best is to study the project as crypto and trading isn't like before. Many projects now do pump and dump and some do not have good plans for their coins. Best is to be smart.

Well patience is necessary in trading but it depends on the coins we invest in. Im a long term holder but still taking profit at times if I see an opportunity to do it, my instinct says to take advantage the hype and make sure to gain already but left some for my preferred target  price. We need to balance the situation because we're the only one who can determine if its time to sell not base on our emotion but because you understanding whats happening.

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[bittick]

The right trading mindset is something you need to start working on. You need to make a good strategy. You need to know the do's and don'ts. You need to settle your emotions as we can see, emotion is the biggest obstacle a trader has no matter how good you are in trading, reading charts, doing Technical analysis. We must have a positive trading mindset that will need to be continually improved and protected throughout our life as a trader.

YOu can't create a good strategy when you are not even understood about how to know the fundamental value of a coin combined with the technical analysis. Emotion should be the last point to maintain our activity in the market. We must never try to take everything easily dude.

[Odebowa]

Generally traditional market traders stay away from cryptocurrencies due to the volatility of these assets. The way it rapidly changes its trends and pretends to be cool after a severe dump.

In Benjamin Graham’s book, The Intelligent Investor, that inspired Warren Buffet,  [based on the traditional stock market] he says:

‘Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop’.

What the traders of the crypto community need to do is that they should notice substantial rise and drop happens within seconds.
Trader should have the mind and follow what the mathematics defines an envelope of values; by using the highest high or the lowest low of the last ‘n’ periods.

[gundala]

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What the traders of the crypto community need to do is that they should notice substantial rise and drop happens within seconds.
Trader should have the mind and follow what the mathematics defines an envelope of values; by using the highest high or the lowest low of the last ‘n’ periods.

There are many strategies in trading. To my knowledge, one technique is to analyze price changes based on different time frames. Learn the pattern, which is why this is not something that can be learned instantly and will not be maximized if it only relies on feelings.

[cytpoway121]

Well advise but the key to them all is patience. Once you don't seems to have it, you'll be highly frustrated cos your whole mindset is to strategize and make quick money. Crypto market requires the ability to wait and keep your emotions aside while the market fluctuate until it favors you

You have pointed out the core characteristic; the patient trader will always win, even in losses.
And you can only learn trading strategies better, when you are patient.

The most important factor after patience, is doing your own research to the grassroots; it helps and guides alot.

[BlacksmithCorporation]

In fact, these are basic things that traders can easily access but to follow is a long and difficult process, which many people do not pass.

[suryapro]

yeah right, that's all it must have at the time we want to plunge into the world of trade. because sometimes if we have felt a loss, our feelings of emotion and hope to get benefits after this. but precisely because we are emotional we don't think clearly so that it will cause us to lose its true worth ...

[gunungkembar]

as I know new traders will not think too far because they only think about how to be able to get a lot of profit from cryptocurrency trading while the experienced traders I am sure they will think more than new traders.

[travwill]

It’s not enough just to be patient and follow this advice. It is important not to go about your emotions if they push you to violate premeditated actions.
So, for example, you can sell ahead of time, although you were not originally going to do this, and make a mistake.
It is important to understand what you are doing at every moment of time, and most importantly, why are you doing this. Patience for the sake of patience is nonsense.

[andycarrol]

It’s not enough just to be patient and follow this advice. It is important not to go about your emotions if they push you to violate premeditated actions.
So, for example, you can sell ahead of time, although you were not originally going to do this, and make a mistake.
It is important to understand what you are doing at every moment of time, and most importantly, why are you doing this. Patience for the sake of patience is nonsense.

I don't think anyone knows when cryptocurrency has the right time to buy and sell, you can say that because it looks at the chart that has already happened and doesn't know what happens in the next move, because the cryptocurrency price when it falls and you buy it can still collapse again, just patience and applying long-term trading which in my opinion is still a bit safe for trading.

[htsy585]

Staying at home has helped me to study and learn and today, i will be referencing the key virtues that is learnable to be a trader

Trading psychology is more of understanding people’s emotions and yourself

I am open to learn even further, and i welcome everyone suggestions

To be honest, you did a great job and i must say staying at home do really helps you as you've gather enough experience needed of a trader. Virtually every point you listed out are important and just as you mentioned in the conclusive part of the thread, proper management of greed and emotions play the key role in excelling in crypto trading

[Wayrey2020]

You have stated the proper and most essentials details for every traders and prospective traders to follow in this space, while trading or before trading.

In addition to this effect, i will also like to add that we need to understand how fundamental anaylsis FA, and technical analysis TA works.
FA, is an important analysis for long term investments, while TA is for short term gains.

Never mix them up, and ensure you use the best of exchanges to read your charts.

[Mighty_crypt]

It's easier said than done, every pro traders have their bad days you know, OP makes it sound like doing all his point will make you are winner well in trading there will always be winning days and losing days, the greatest enemy of trading is our emotional part

[michellee]

It's easier said than done, every pro traders have their bad days you know, OP makes it sound like doing all his point will make you are winner well in trading there will always be winning days and losing days, the greatest enemy of trading is our emotional part

As long as we don't be upset for a long time because of the losing money in trading, we can try to recover the loss while we still have much time to get the money back. We need to remember that if we trade, we cannot always make a profit because the market will always change every day. So we also need to learn more about trading so we can analyze the market and back to make a profit.

[Reatim]

I don't think anyone knows when cryptocurrency has the right time to buy and sell, you can say that because it looks at the chart that has already happened and doesn't know what happens in the next move, because the cryptocurrency price when it falls and you buy it can still collapse again, just patience and applying long-term trading which in my opinion is still a bit safe for trading.

If you are serious and dedicated investor then you need no right time to buy because you will Buy that cryptocurrency you want as you believe in the potential and the future of the said currency and not because you want to make easy money,like Bitcoin that those who purchase from the Beginning is now sitting in tons of money while the late adopters are always looking in

"When the market will be in  Bullrun again"?

and this is always Sucks to read because this is not a one day millionaires market(But yeah there are several manipulation that others become millionaire in a splint of time) but this is not happening everyday.

Let us learn how to wait for profit and not to just ask for it faster because this is greed and the way why many falls to zero.

[Barbut]

It's easier said than done, every pro traders have their bad days you know, OP makes it sound like doing all his point will make you are winner well in trading there will always be winning days and losing days, the greatest enemy of trading is our emotional part

As long as we don't be upset for a long time because of the losing money in trading, we can try to recover the loss while we still have much time to get the money back. We need to remember that if we trade, we cannot always make a profit because the market will always change every day. So we also need to learn more about trading so we can analyze the market and back to make a profit.

It's much easier to be said than done, that is what confuses many new traders. They read stories about success, but they only see success, not the entire road to that, and that road is bumpy! Constant learning is what you need for all traders, you learn when you make a profit, you should learn even more about when you lose, to check what happened, to try to avoid making the same mistakes again.

[memed97]

It's easier said than done, every pro traders have their bad days you know, OP makes it sound like doing all his point will make you are winner well in trading there will always be winning days and losing days, the greatest enemy of trading is our emotional part

Yes, all traders have experienced hard times and happy times, and of course to win in a trade is clearly not easy as imagined by everyone, this can also be seen from most predictions that have missed and not as expected.

[michellee]

As long as we don't be upset for a long time because of the losing money in trading, we can try to recover the loss while we still have much time to get the money back. We need to remember that if we trade, we cannot always make a profit because the market will always change every day. So we also need to learn more about trading so we can analyze the market and back to make a profit.

It's much easier to be said than done, that is what confuses many new traders. They read stories about success, but they only see success, not the entire road to that, and that road is bumpy! Constant learning is what you need for all traders, you learn when you make a profit, you should learn even more about when you lose, to check what happened, to try to avoid making the same mistakes again.

A new trader needs more experience to realize about that, so if they get lost in trading, they can take it easy and start trading again to recover the lost. If they only read stories about success without reading the whole story, I think they will not understand how hard one pro trader trying to get up after he loses the money. Learning from the mistakes will be an important lesson for all traders so they can know what the mistake is, and they can know how to avoid another mistake.

[lobo13hf]

It's easier said than done, every pro traders have their bad days you know, OP makes it sound like doing all his point will make you are winner well in trading there will always be winning days and losing days, the greatest enemy of trading is our emotional part

It's not only pro traders but everyone have their bad days but when they can handle their bad experience and try to be a better for the future and they will get a lot of experience.That's why we must able to control our emotional and never try to follow it. It will always bring us to the loss. 

[Blue_oxen]

It's easier said than done, every pro traders have their bad days you know, OP makes it sound like doing all his point will make you are winner well in trading there will always be winning days and losing days, the greatest enemy of trading is our emotional part

It's not only pro traders but everyone have their bad days but when they can handle their bad experience and try to be a better for the future and they will get a lot of experience.That's why we must able to control our emotional and never try to follow it. It will always bring us to the loss. 

Yub! Emotions in this market such as angry, sad, happy, etc are very important. When you're sad, you can think about giving up this market. When you're angry, you may do some stupid thing that blow all of your money. Happy seemed like a good emotion but no, when you're happy you may act without thinking wisely. Emotion-control is just as important as risk management. Keep your head cold when you do anything in this cryptocurrency market!