Which is the secret to success in trading?

[abel1337]

The secret to success in trading? Try not to follow some random people ideas however follow on yourself. You don't generally require such much coins in your portfolio for trading. Search for a decent coin with an awesome use case and trade on that coin only. Doing technical analysis and forget about all the noise out there.

Agree to you! It is better to learn alone without other idea, it is much better, you will also learn other stuff that can help you in the future, and self learning doesn't cost anything so why don't we try it right? there will be no secret to trading, there are other books that can help you in different things that will help you to analyze trading. There will be some falls and ups , you will not experience it nor feel it if you will going to depend to other people.

[adzino]

Not sure why are you talking about stock investment in a bitcoin and crypto currency forum. Are you trying to imply that stock trading and crypto currency trading are both the same? It might be a somewhat related, but it is totally different. And most of the reason/events that affect the price of stock doesn't seem to be the same for bitcoin.
But it does look like you have stated most of the methods for trading crypto currencies by keeping risks at minimum. Sadly, most people ignore these simple rules. They start joining the market with the hope of making profit real quick. They make few trades without knowing anything and as usual suffers from loss. Now instead of learning from his mistakes, he either quits or keep on repeating the same mistakes until he loses everything and starts hating crypto currencies.

[Zanab247]

The secret to success in trading, is to watch if the supply is less than demand before you can sell,show that all your trade will bring you success after your transaction in the market. Holding your coins till the market change for your good before you release them to market it will make you smile at the end of your trade in the market.

[harizen]

There's no secret to success. It's about the good execution of our own strategy.

Almost all ideas, pointers, suggestions, advice, recommendations, tips, techniques, etc. can now be found in public at the vast world of the internet so any information we want is just 1-click away. Our goal now is to how to properly execute those on the way.

Building experience is the key. Win or Loss just continue and surely as we progress, those mistakes and challenges along the way can now be dealt with a good solution.

[wheelz1200]

Patience and don't get caught up in any hype its usually over by the time most people catch on.  Dont try to hit the exact tops or bottoms when buying and selling, be OK with getting in within 20% of the low and selling within the top 20%.

[24Kt]

There's no secret to success. It's about the good execution of our own strategy.

Almost all ideas, pointers, suggestions, advice, recommendations, tips, techniques, etc. can now be found in public at the vast world of the internet so any information we want is just 1-click away. Our goal now is to how to properly execute those on the way.

Building experience is the key. Win or Loss just continue and surely as we progress, those mistakes and challenges along the way can now be dealt with a good solution.

Indeed! It is your own strategy how you will come out in this situation. All the tips and tricks are out there but when it comes to actual execution, is really different. This will test your experience and skills how you can act on a certain trading situation. Having a lot of experience will help you in arriving at the right decision. And this is learned thru the years, not by any means in short period of time.

[Psynthax]

The ability to manage your emotion based on your logical thinking. it doesnt matter how much knowledge you put into your analyzation but once the price goes out of your prediction im sure most of people went apeshit and just cut lose resulting to the opposite of what they expected which is profit. it's really hard to manage this emotion but it's natural for human to want saves our money from went bankrupt.

[Viscore]

learning from the past, from mistakes, is the only way to develop, plus continue pursuing our goal to become a successful trader. Because never find ourselves suited to this kind of work, we are just simply compromising our future.

It finds no secret in trading, I believe all gamblers have the same strategy but only it differs on how they work on it and how they understand the market behavior. Success isn't a matter to have a secret or an ingredient to build a better trade but it is our passion to do that and love our work.

[BChydro]

the most important thing to have a fixed-paying job to invest, do not put all your money because you can risk losing everything.
 

This is the basic thing you need to invest money, without a job or business how you can allocate money to invest in literally anything  . If you are investing in cryptocurrency then you can trust all the major coins and the principle is to invest at the right time and it is the basic rule in every investment. The risk reward is really high in cryptocurrency and so is the reason you are seeing many institutional investors getting attracted to this market.

[Periodik]

After learning all these, I would say get into it and you will learn by and by how everything works. These are not secret things. These are always there as the rational approach in trading. Your success in trading does not depend on any secret. It all depends on the right approach to it which is not at all hidden.

Be focused, determined, and hardworking. Sometimes it all falls down on how much effort you exert.

[TitanGEL]

For me commitment is the most important thing that the trader should have, a trader should commit that he will going to study and make a research in order to become profitable trader,  a trader should commit that he will spend most of his time analyzing a chart and committed in a way where he will never lose faith or he will never give up in trading. Knowledge is what traders need, they cannot get that knowledge if they are not committed to get or to learn new things. Mastery takes time, people are too lazy to spend most of their time studying and it is the reason why they are not making profits in the market.

[Salauddin1994]

You will not get anything easily the main secret of business success is to try and struggle with patience in order to do business self confidence is the greatest strength you have to analyze the market well by applying your own knowledge and intellect. Trading charts must be followed most of us suffer from depression because we are not as successful wealthy and intelligent as others you can't be bill gates if you want to but you should know that not all people are the same everyone has some unique characteristics that no one else has. Discover this unique feature of your own and trust it to be successful put everything you have into the business make regular business changes.

[GreatArkansas]

For me here is my own opinion on that.
You should build your trading system on your own and you should stick with it!
After you learn some technical part or fundamental part of trading, like some tools using while trading, you are slowly building your system on your own. Start trading with what you really believe from your learnings and you will stick with it if you really find it profitable for you or you think it is the right. Losses are really normal in trading, especially if you are just a newbie. In trading, the most important here is survival, don't aim for easy money in just like 1 night, 1 week of trading.

[BuNga_cute]

Thank you for sharing your experience and knowledge about trading at the opening post. Many points can remind me to be successful in trading,
because to succeed in trading is not easy. Sometimes we have done all the tips well, but the results are far from what we expect. Success in
trading sometimes requires luck, as the Bitcoin movement this year is unpredictable. Those who bought Bitcoin when the price dropped below
$ 6,000 are very lucky, because currently Bitcoin is almost $ 16,000.

[Reid]

investigate and have knowledge of the company that we are going to buy, its stock or currency that you are going to trade

The first important part of trading for me.
You cannot just blindly trade your money for something you don't even have knowledge about.

trust yourself and do not copy others, because the other can be wrong.

In short, riding the hype.
It happens because buyers are trying to ride the boat. Again, without even having a single clue into what they are getting into.
Risky. I don't even want to put it at 50/50 risk. Maybe lower than that.

Trust your instincts. If you did the proper way then you are increasing the chance to win a trade or even for investment reasons.

[yeamin.rsl]

Patience and knowledge are the secret to success in trading. Don't trade with everything you have, trade with as much as you can afford to loose.There are times when the markets test your nerves. As a trader, you need to learn to keep greed, hope, and fear at bay. Decisions should be governed by logic and not emotion.

[Majharul Saiif]

In my sense, the secret of success in trading is the observation of market conditions. It includes risk management, experiment on price index, portfolio management, Keep patience, having the power of taking a loss, strong determination, be strategic, etc. This all will help to be successful.

[qwertyup23]

Knowledge in trading can definitely mitigate your losses, but I find experience as the essential formula to a successful trading career.

You can always read books, watch videos, and listen to people about learning to drive but you will never learn to drive one until you actually experience it first hand. Same as trading- you will better understand it more once you have actually tried and started trading your cryptocurrencies. I also advise to have a mentor (if possible) so he can monitor your progress as time passes by.

Lastly, try to allocate your resources by both short and long-term goals for a clearer goal to reach. Trading can be relatively difficult but if you exert tremendous effort, it will all be worth it in the long-run!

[sulendra12]

Crypto is different than traditional stocks. If you are trying to make profit by trading cryptocurrencies in a bad time ( after halving ) probably you will lose your funds. I would recommend also to anyone to start with demo in the first years of trading

This is not a good suggestion at all. Doing demo trading makes you nothing to learn, you can't lose your money and you don't know what real trader feels when they see the market is meet your requirement, losing their money etc. I would not recommend suggest people to start trading with demo account, would be better to start with small amount first so you have the grasp of trading.

[Ridwan Fauzi]

I believe each trader have his own way/strategy how to get money in trading. For those who just guessing the price up and down and didn't use any analyst (technical/fundamental) most possiblities he is not a trader but he just gambling. So, for those who use the strategy like has mentioned by OP then he is a trader, but you can't force another people should have the same strategy like yours. Like me, I only use at least trend line, harmonic pattern, fibbonaci, and candlestick pattern and also fundamental analyst. Because if you are overcome all of them your psychology will be good and most of your trading will get a profit.