Need advice on becoming a successful trader

[TimeTeller]

And most importantly start with a small capital first. My advice is don't follow trading signals or use trading bots, it will only provide short-term
profits. It's better to trust your own abilities by doing manual trading.

It is good if the signal still give you a profit because as far as I know the trading signal especially the free signal will just make you get a lose. Even I just thinking the people who give a signal will make the signal hunter meet a loosing first so as they will try to premium signal. I will feel like that, to recovery lose I'll do anything to gain profit to close my loosing money.

That is true, the safest way become a trader is believe to yourself and your strategy. Someone will be an expert to trade and they will always find a knowledge to avoid something bad happen. At least they will know any situation so as they only have a small chance to lose a lot of money.

Following trading signal groups especially those free ones is really not advisable.
I have tried that several times just to see if what they were saying was true, and it was not.
Only them can gain from this strategy, those who owned the group.
So if you want to be a trader, do it on your own. Learn the tricks thru experience.
Each alt has their own time but you need to follow closely their updates.
You should select only the coins that you want to focus on, as there are a lot of them and you might lose in tracking them.

[imstillthebest]

And most importantly start with a small capital first. My advice is don't follow trading signals or use trading bots, it will only provide short-term
profits. It's better to trust your own abilities by doing manual trading.

It is good if the signal still give you a profit because as far as I know the trading signal especially the free signal will just make you get a lose. Even I just thinking the people who give a signal will make the signal hunter meet a loosing first so as they will try to premium signal. I will feel like that, to recovery lose I'll do anything to gain profit to close my loosing money.

That is true, the safest way become a trader is believe to yourself and your strategy. Someone will be an expert to trade and they will always find a knowledge to avoid something bad happen. At least they will know any situation so as they only have a small chance to lose a lot of money.

Following trading signal groups especially those free ones is really not advisable.
I have tried that several times just to see if what they were saying was true, and it was not.
Only them can gain from this strategy, those who owned the group.
So if you want to be a trader, do it on your own. Learn the tricks thru experience.
Each alt has their own time but you need to follow closely their updates.
You should select only the coins that you want to focus on, as there are a lot of them and you might lose in tracking them.

if all people depend on signals then it will be ez pz but nah  . many feedbacks i heard were bad  . its really true that no ez money on this world not even on the trading scene  .

if you want good signals then you need to pay for premium but this does not mean that all premium are legit just because they require  fee  . i think it would be better that we still equip our selves with few knowledge in general trading and on the group that we are trying to join

[Quidat]

And most importantly start with a small capital first. My advice is don't follow trading signals or use trading bots, it will only provide short-term
profits. It's better to trust your own abilities by doing manual trading.

It is good if the signal still give you a profit because as far as I know the trading signal especially the free signal will just make you get a lose. Even I just thinking the people who give a signal will make the signal hunter meet a loosing first so as they will try to premium signal. I will feel like that, to recovery lose I'll do anything to gain profit to close my loosing money.

That is true, the safest way become a trader is believe to yourself and your strategy. Someone will be an expert to trade and they will always find a knowledge to avoid something bad happen. At least they will know any situation so as they only have a small chance to lose a lot of money.

Following trading signal groups especially those free ones is really not advisable.
I have tried that several times just to see if what they were saying was true, and it was not.
Only them can gain from this strategy, those who owned the group.
So if you want to be a trader, do it on your own. Learn the tricks thru experience.
Each alt has their own time but you need to follow closely their updates.
You should select only the coins that you want to focus on, as there are a lot of them and you might lose in tracking them.

if all people depend on signals then it will be ez pz but nah  . many feedbacks i heard were bad  . its really true that no ez money on this world not even on the trading scene  .

if you want good signals then you need to pay for premium but this does not mean that all premium are legit just because they require  fee  . i think it would be better that we still equip our selves with few knowledge in general trading and on the group that we are trying to join

You do learn up trading for you to earn up money and not to give out or paying up some fee just for you to learn.All of learning tools or informations are
already on the internet and all you do need is to study up on yourself and learn up things along the way which would be a great help for you to become a
better trader.In logical side, if those so called experts where profitable then they wont mind to let theirselves to be followed by several people or either
handle out or management funds.

[BitcoinTurk]

The first rule of being a successful trader is to conduct research and gain experience by applying the knowledge obtained through the research by trial-and-error method. A good trader always researches and never claims he knows everything. Also, in order to be a good trader, you should watch trainings, read articles and apply them with trial accounts. When you do all of these things, you will have more experience and knowledge. This will be the biggest proof that you are a successful trader.

[shield132]

One of the best advice to keep in mind is following: When you profit that happens because someone loses and opposite.
Everyone wants to be a good trader but we can't have all winners, so competition rises and average guys in past are now on a lower level. A good trader has to be kept in touch with everyday news around the crypto world and analyze it, both, news and market chart.
There were a lot of moments when those who were looking through news, used those moments collectively while others lose. For example moment when coinmarketcap removed some Korean exchanges from listing and it affected price, one famous exchange in 2017 locked fund withdraw for 1 day and it affected price, also hashocean's scam run affected price, china's mining ban and etc. You have to read news everyday cause people act like news pushes them to act. Positive news sometimes arouses positive feelings in them regarding price and for a lot of times negative news arouses negative feelings among crypto users and as a result, we get price falls.

[KrisAlex18]

Hello, mate welcome to this forum.

I suggest that if you are the only beginner, you should not try first to trade, try to make some research about it and if you think you have already enough knowledge then you marry it now.

Here are some of my advice when you are going to trade.
1. Trade at your own risk - you should know that trading is not a 100% sure profitable, you may lose and you may win.
2. Trade you can afford to lose - when you are trading, you should think that you may lose, so always limit your budget when you are going to trade.
3. Observe the market - this is really the most important, you should learn the movements of the graphs. Always observe the bitcoin.
4. Do not be greedy - People tend to lose their money because of greediness, think wisely when to stop and to play.

[tvplus006]

I have been learning about Stock, crypto trading from 2 weeks. I started by learning a bit by reading book about Technical Analysis (only basic/popular TAs) and other basics....

It is very easy to give advice on how to become a successful trader, only when you start trading, all your theoretical knowledge goes against the reality of the market. The market does not forgive mistakes and you need to consider the risks in order not to lose your Deposit.

[bitgolden]

Definitely studying the technical analysis would work, however knowing those indicators and those analysis would only help you to see whats going on, not what will happen, you will have the tools to realize what you could do, however you will not have a ready made thing. Many people look at TA like the end of studying, no TA is the tool, what you do with that tool still depends on you.

Let's say now you know what Macd is, does that help you? Sure it does, does that tell you what bitcoin will be alone? No it doesn't you need to know how to use that in order to see. Plus on top of all of this, you are still not going to suddenly get a lot of success, sometimes you are going to get a big loss because that is how bitcoin works, sometimes you win and sometimes you lose.

[evelynshaile]

I have been learning about Stock, crypto trading from 2 weeks. I started by learning a bit by reading book about Technical Analysis (only basic/popular TAs) and other basics.

I started with short term trading (1-3 days). Very little profit. After I tried intraday trading with margin, but had loss even in bullish market. I am not planning to touch future trading with a ten feet pole though.

Eventually I think I am able to control my FOMO, became aware of PnD schemes, bots, profit greed. I am not doing margin trading really, and focusing on quality trades over quantity. I have become very careful with trading but still I am losing money. Yesterday I lost some money because my SL was very close. Market went up but sadly after triggering my SL.

I am kind of invested full time into it right now because of lockdowns. But not investing much capital (I am okay if I lose all the invested money). My goal is to test the waters and see where I stand. Can I become an independent full time intraday trader (I am currently a freelance Software Engineer) or it should be a side-income or I should forever stay away from it.

I am wondering if you guys have any tips for me. There are so many things I can do which is overwhelming.

- Monitoring for PnD in advance by their free telegram groups, constant screening of prices. But monitoring so many shitcoins is overwhelming.

- Manual trading bots, grid bots, automatic bots. I am especially curious about DCA bots. It's not possible to do it right manually.

- Learn more about Technical Analysis. Maybe I am not doing it correctly. Is there any guide/ebook which explains it good in terms of crypto.

Any tip or advice is welcome.

I'm in a similar boat to yourself, but i have been paper trading for two years before lockdown happened boredom pushed me fully into it. Now i can make shitloads of money papertrading, the real thing is a whole different ballgame, im just about managing to stay even most of the time, when you make a bit of money its a lot easier to lose that gain. the best advice i can give you is make the smallest trades possible and do not "try" to make money, try to enjoy learning the right way to do it instead.

Two weeks of learning really is not enough, but that being said if you can afford to "pay" for your education i.e learning from your losses then its totally fine, as long as the money you are losing isnt from your mortgage fund.

[cytpoway121]

I will assume you have gotten so many tips from the forum, so there won't be any repetition.

I will advice you to be confident of your capabilities and skill before embarking on trade

Likewise, you need to understand perfectly two basic concepts, when to go in and when to get out of a trade

[Kelvinid]

I will assume you have gotten so many tips from the forum, so there won't be any repetition.

As I believe so seeing OP's reply to @thecodebear...

Thank you so much for a detailed response. I've pretty much stopped leverage trading now since last 2 days. By professional trader, I just meant independent full-time trader.

And I believe he realizes and corrected his mistakes. People have this kind of appreciation will certainly be going far from his position today. He keeps asking, he keeps learning, and that is a thing it needs to build in order to achieve our goal.

[Taskford]

I will assume you have gotten so many tips from the forum, so there won't be any repetition.

As I believe so seeing OP's reply to @thecodebear...

Thank you so much for a detailed response. I've pretty much stopped leverage trading now since last 2 days. By professional trader, I just meant independent full-time trader.

And I believe he realizes and corrected his mistakes. People have this kind of appreciation will certainly be going far from his position today. He keeps asking, he keeps learning, and that is a thing it needs to build in order to achieve our goal.

I'm always impressed for people who always ask if they don't know on what they doing on some situation since they are the one mostly became successful since they didn't act anything under their knowledge, And mostly those losers are the one who confident that they know everything on ventures they do. This is really the most important attitude to bare by many people so that they became a pro on trading since this option needs a lot of patience and research

[Assface16678]

In terms of trading always make sure you need to find out the trading platform that is suitable for your needs and wants to make higher gains of money. Some of the people today are making deep-diving into the world of trading that has not to have enough knowledge and it causes losing their funds immediately. If you are trying to make trading it is better if you know how to read graphs first because not all the time you can do good sometimes on every single detail your mistake into the world of trading can cause too much loss to your funds. I highly recommended if you think you are not quite sure to your funds decrease the amount of the leverage because don't trade that you can't afford and use the trading signals and indicators it can give you a huge tip what is the next kind of market movement. In my long time into the world of trading, this is the concept I need to make sure to avoid getting lost of my funds.

I will assume you have gotten so many tips from the forum, so there won't be any repetition.

I will advice you to be confident of your capabilities and skill before embarking on trade

Likewise, you need to understand perfectly two basic concepts, when to go in and when to get out of a trade

Once you enter into the world of trading make sure you are prepared enough because it is full of risk you cannot make a lot of money if you do not make a huge risk on your money.

[TheGreatPython]

Someone notified on another similar topic about continuous learning and I agree about it because I too believe only with knowledge anyone can become a successful trader. At the same time, knowledge alone will not help anyone to be successful all the times in trading when they are failing to make use of their experience. Experience must be more critical factor in deciding the level of success in trading. So in summary, both learning and making use of experience will make anyone a successful trader.

This is the reason why people are not recommending to go for copy- trading or buying signals. Because when you are not capable of generating required signals for your trading purposes then you cannot make timely decisions based on market fluctuations. Signals (copy-trading) along will not help you in being successful but timely decisions.

[carlfebz2]

I will assume you have gotten so many tips from the forum, so there won't be any repetition.

As I believe so seeing OP's reply to @thecodebear...

Thank you so much for a detailed response. I've pretty much stopped leverage trading now since last 2 days. By professional trader, I just meant independent full-time trader.

And I believe he realizes and corrected his mistakes. People have this kind of appreciation will certainly be going far from his position today. He keeps asking, he keeps learning, and that is a thing it needs to build in order to achieve our goal.

I'm always impressed for people who always ask if they don't know on what they doing on some situation since they are the one mostly became successful since they didn't act anything under their knowledge, And mostly those losers are the one who confident that they know everything on ventures they do. This is really the most important attitude to bare by many people so that they became a pro on trading since this option needs a lot of patience and research

People who do keeps on questioning and trying to find or seek answers are the ones that would likely succeed on any career that they do take.
You can see the seriousness on where they do get involved into things.Its always been a bad habit or kind of character to be boastful or do know
everything even if you dont. Keep learning and dont stop on a certain point because we know that there are still lots of things that needs to be learned
until you do able to achieve success.

[crwth]

It's never too late to start learning and trading stocks, right?

There are a lot of free resources that you could digest and learn from with all the possible strategies to profit from. The possible thing that you could integrate other trading tools. As seen from your list, trading bots help you a lot and I could help you with that.

There are a lot of ways you could trade but stick to one principle and make it consistent could help you profit in the long run.

[MCobian]

Actually it is not too difficult to become a successful trader, we only need to obey the basic rules of trading. Like using money that we can
afford to lose, do an analysis before making a decision, always be patient, avoid greed, and be confident. By following these basic rules,
then added with increasing practice. I am sure to becoming a successful trader can be achieved.

[qory]

Becoming a successful trader is not easy and you have get more experience with your trading fund lost, maybe many successful trader there lost much money first time before become success and get many trick how to get much profit with trading or investing, they know good time when enter for buying and selling.

[davidroux]

Becoming a successful trader is not easy and you have get more experience with your trading fund lost, maybe many successful trader there lost much money first time before become success and get many trick how to get much profit with trading or investing, they know good time when enter for buying and selling.

It is never easy to become a good trader because you face a lot of great risks, and without the knowledge, you will soon lose money in this market. I have been here for a long time, but sometimes the knowledge of trading still does not help me when the market suddenly collapses, so please be careful and consider carefully before trading a coin.

[tbterryboy]

Everyone asks to get a good response for "how to be a good trader" but there are literally tens of these topics in the last pages alone, more if you go further back. If you want to be a good trader either do not care about what the people here says and go study it from a bit more professional people who literally are professionals of this instead of internet strangers here who you have no idea about. At least if you study from the people who are more professional and have experience you would basically just learn a lot easy.

If you really want to care about people here tho? That means read the other freaking topics with the same freaking name, you don't have to start a topic, there are similar topics opened every single day, no need for another one.