Which is the secret to success in trading?

[Yamifoud]

The secret of success in trading is to experience failure. Because that is a reason that you'll need to grow up, add some more knowledge, and to find strategies that will work with us together. Even in the stock market or any business, losing is a part of it, and by that mistakes, we are able to learn, a thing that helps us to think another in order to prevent the recurrence of such mistake.

[famososMuertos]

These topics open to the opinions of anyone show that trading is open to everyone. But not everyone can make a living from trading, it is something important to consider is a job like any other.

What happens is that there is a belief that we have to do a trader to be successful or a profit, in reality most only need to make a exchange due to many circumstances that should not be associated with a success or failure issue.

Many at some point made a downward exchange and this only indicates that you had an unexpected performance, trading is something that you have to learn to manage according to the circumstances personal.

No personal experience should be a line to follow just a reference that the guidelines that exist and the procedures work.

Just remember something, the true success of trading is always having investment capital, having bad times is normal, even losses are a reality that you must accept as part of that success that must be reflected in gains at some point.

[Savemore]

It's kinda funny because when I was a newbie, I thought that secret in trading is by joining in signals group but I found out immediately that they are scam because luckily I invested in my knowledge and found that's where I find the trading system that is fit to my character and skills. Practice doesn't make you a good trader, practicing what is perfect can help us to become a profitable trader. A lot of people are advising that you should just practice to become a good trader but it is not true and for me it is just a myth because you can never be a good trader if you are practicing wrong that is why if we are still practicing, make sure that we will give 100% in order for us to say that we are practicing what's perfect. Determination to learn is what we need, if you do not have this then do not expect that you will become profitable trader. A lot of trader are quitting in their 1st year in the market because they do not have determination where they lose all of their hope because of the losses that they incur. Trading is a process and many people are boasting that they can learn it with days but unfortunately it is not true because you really need to sacrifice a lot of time and focus yourself studying and monitor charts for you to become familiarize and also understand the price action.

Choosing a trading system is also a factor, you cannot just buy and sell if you do not have a trading system. There are trading system existing online that you can buy but if you do not want to spend then you can create a trading system that is fits to you. A trading system compose of planning, watchlisting and of course executing. You should have criterias on what to buy and what coins that should avoid. Developing trading systems are not easy and it can took you months or even years for you to complete it. That is the reason why determination is really important because you should not just quit and forget trading. Those people who quit will never regain their losses because they do not have a winning mentality. Developing our mindset is also important and as a trader we should have a winning mindset and for me it is the secret in order to become successful in trading where we know that we can surpass all of the obstacles and hardships in our daily lives.

[marcous]

There are a lot of qualities a good trader need to have and I've noted quite a few in your article and I'll like to lay emphasis on it and as such I've quoted them right here.

be patient not everything is now, sometimes you have to endure so that you can reward it.

Not many traders have the patience to wait on a confirmation for an entry or exit point by analytical tools like the candle stick patterns before taking a position in the market. Patience is vital as, a confirmation is like a guarantor on speculation on analysis because, their is always a possibility of a continuation and break out.

have a strategy, not everything is crazy, the best things is to take things slowly and think before acting.

As a trader, developing a trading strategy that suits you is more better and profitable than copying other people's trades or trading based on subscribed signals. It doesn't build experience.

not having emotion and having a cold and calculating mind, everything is going to happen only is to be a calculating person.

Emotions are what create biasness on a persons entry or exit position in a trade. It might somehow make you raise your take profit or stop loss if in place due to the situations at the market, your emotions can breath forth greed which could be damaging.

always be aware of news

News is one main market mover as most traders depends on news to decide if they are to buy or sell, go long or short depending on what is deducted from the news. News has the potential of altering an existing trend in the market especially when the news is a strong one.

Yes,Buy rumors sell at the news, a moment that is often used by many traders.  when there is news we also have to be able to read the chart.  if TA support such as RSI etc already supports the possibility that the price will increase massively.  so it would be nice not only to rely on news.  TA is also important.  because if a coin goes up just because the news is not massive, it's likely that it will also go down quickly (the price is not being held)

[TitanGEL]

If you really wanted to gain success on doing trading, of course you must be able first to make yourself be knowledgeable enough and do not let yourself be ignorant or left behind into certain information you must know before starting off on doing trading. Trading is a serious matter for you are aiming to gain profit while lessening the probability of gaining loss through basic knowledge and strategies that are suited for that specific situation. Loss is the most common thing present upon doing trading most specially at this kind of industry that we are currently in with. Loss can be handled if you certainly know your asset or the currency where you have decided to do trade with. Upon assessing and analysing how things work, you can be able to strategize on dealing with circumstances. Also, as a responsible trader, you must always be updated on the current trends for it somehow affects the behavior of the prices which can also be another contributing factor on the price change.

If you let yourself to be one of those ignorant traders then you will become part of the majority of the traders who are keep losing the market. Actually there are researchers that saying that 93% of traders and investors are keep losing money in the market while only 8% that are keep consisting making profits. As a trader you can choose any on those two, if you want to be part of 8% then you should treat trading as important and you should not just treat it as a joke. Being ignorant is not funny at all and It is really hard because no matter what they do they are still keep losing because they are know focusing on becoming well informed about trading. If we become well informed about it where we have a lot of concepts that we can use, for sure that we can become part of those 8% that are profitable in trading.

[CryptopreneurBrainboss]

The secret of success in trading is to experience failure. Because that is a reason that you'll need to grow up, add some more knowledge, and to find strategies that will work with us together.

I can relate, of recent my knowledge on DeFi had grown massively due to past experience of failing on a trade. I took my failure as a motivational event to research more on what the while concept is all about and the ideology behind the project I bought earlier to understand what they're working on to determine if they'll be worth the hopes or just sell off my reminding bags and move on.

My mistakes was, I bought while everyone was selling and I had to be in lost for 2 months not until of recent some price build up is occuring as DeFi are becoming a thing again and I'm seeing my profits steadily coming back. It's quiet amazing the positivity you can make from failure than actually success. Failure makes you want to work on yourself but success kind of does the opposite especially when you let it get into your head.

[Wawa2013]

I believe everyone has different secrets to success in trading. I think knowledge and experience are the secrets of my success in trading,
which may have been run by several people and proved successful. Because knowledge is something that must be owned by traders,
without knowledge it is difficult to make a good trading strategy. And the trading experience can correct our mistakes when trading,
then having trading experience can also prevent us from making the same mistakes.

[palle11]

without knowledge it is difficult to make a good trading strategy.

Yes they say knowledge is good in everything that we do. If you don't have knowledge, you can't succeed in it   Having trading knowledge means that you understand most of the strategy and techniques to do the trading well. The example, you can have knowledge of money management, leverage, stop loss and taking profit, swap, snapping and other terms and their meanings.

[Serious475]

Knowledge.

It's too hard to learn with trading If you don't have any kind of skills in trading it's too hard for you to know what are these kinds of things you will see when you are starting in trading.
There is a lot of source on the internet so learning is not an option instead you have a choice you want to learn so you can make a profit in trading or just see other people and watch them they already getting a profit.

[asus09]

without knowledge it is difficult to make a good trading strategy.

Yes they say knowledge is good in everything that we do. If you don't have knowledge, you can't succeed in it   Having trading knowledge means that you understand most of the strategy and techniques to do the trading well. The example, you can have knowledge of money management, leverage, stop loss and taking profit, swap, snapping and other terms and their meanings.

Knowledge is the first thing how to be success in trading, almost all coin can prediction where are the way, dump or pump by checking with their social media account, I thin before trading we can know which one coin have new update by reading all their community social media account and getting on coinmarketcall to know which one have good news in several days later. This called with knowledge how we active looking for good or bad news for some coin before trading or investing, never trading based on other recommendation because is not true and never give chance for you to get much profit if always get other recommendation for trading coin.

[blckhawk]

The secret of success in trading is to experience failure. Because that is a reason that you'll need to grow up, add some more knowledge, and to find strategies that will work with us together. Even in the stock market or any business, losing is a part of it, and by that mistakes, we are able to learn, a thing that helps us to think another in order to prevent the recurrence of such mistake.

Upon reading all comments this one caught my attention. I believe if there is any secret in trading it is definitely the experience of being a failure. Failure not only gives you a lesson and experience but makes you strong as well. I bet even those successful ones had this experience before and experiencing the failure makes them grow to what they are now. Being a failure implies that you are bad yet it makes you better. Heard the quote "Failure is the best teacher"? I think that will sum it all up.

[malikg18]

Success of trading depends on various things like motion control, less greedy, having sound knowledge of charts, previous history of coin, Fundamental knowledge, Event knowledge.

[ice098]

The secret of success in trading is to experience failure. Because that is a reason that you'll need to grow up, add some more knowledge, and to find strategies that will work with us together. Even in the stock market or any business, losing is a part of it, and by that mistakes, we are able to learn, a thing that helps us to think another in order to prevent the recurrence of such mistake.

Here in cryptocurrency we have this saying that "patience is a virtue". It only means that we have to wait for a profit before we can gain it. Sometimes we have to face a more failure than experiencing winning easily. There is no such an easy money here in crypto, you only harvest what you planted. The more you sacrifice to learned about trading the more you can gain a knowledge that you may used to generate a profit from cryptocurrency.

[proTECH77]

Many people think trading is a something that you can start without any facilitator around you, who will help you to achieve your goals in your trading activities in the market.
Here are some secret to success in trading:
1) Good information: Good information is the first secret to success in trading your coins in the market, and it hard for you to lose profit because you are trading base on the information you got from your research.
2)Patience: Patience is the second secret to success in trading in the market because no matter how the price of the market is rising and falling you have to be patience to achieve something good from the market.
3) Experience: Experience is the third secret to success in trading in the market which, it will help you to understand the market very well base on the experience you have on a particular trade you are about to trade in the market.

[darewaller]

As long as you are steady and not make any rush decisions you should be doing fine in crypto trading. Sometimes you should be able to make a profit very quickly, and sometimes you hold a bag for a long period of time and only sell it afterwards, if you are smart when the price drops you should be getting involved even further to drop your entry point so that you could also sell it quicker later on as well.

I have been involved in trading world for over 10 years now and I can tell you that if you know what you are doing there will be down times but there will be a lot more profitable times.

[suzanne5223]

There are a lot of qualities a good trader need to have and I've noted quite a few in your article and I'll like to lay emphasis on it and as such I've quoted them right here.

be patient not everything is now, sometimes you have to endure so that you can reward it.

Not many traders have the patience to wait on a confirmation for an entry or exit point by analytical tools like the candle stick patterns before taking a position in the market. Patience is vital as, a confirmation is like a guarantor on speculation on analysis because, their is always a possibility of a continuation and break out.

have a strategy, not everything is crazy, the best things is to take things slowly and think before acting.

As a trader, developing a trading strategy that suits you is more better and profitable than copying other people's trades or trading based on subscribed signals. It doesn't build experience.

not having emotion and having a cold and calculating mind, everything is going to happen only is to be a calculating person.

Emotions are what create biasness on a persons entry or exit position in a trade. It might somehow make you raise your take profit or stop loss if in place due to the situations at the market, your emotions can breath forth greed which could be damaging.

always be aware of news

News is one main market mover as most traders depends on news to decide if they are to buy or sell, go long or short depending on what is deducted from the news. News has the potential of altering an existing trend in the market especially when the news is a strong one.

Yes,Buy rumors sell at the news, a moment that is often used by many traders.  when there is news we also have to be able to read the chart.  if TA support such as RSI etc already supports the possibility that the price will increase massively.  so it would be nice not only to rely on news.  TA is also important.  because if a coin goes up just because the news is not massive, it's likely that it will also go down quickly (the price is not being held)

In my own understanding, due to the volatility in nature of the crypto market buy the rumors sell at the news is a dangerous strategy which has leads to the loss of many investors and it also not good to rely on TA and news alone cause there are some trend that are invisible even using TA.
With that been said, i think step of making success in trading to have to do with paying more attention on the Bitcoin market.

[Lanatsa]

The secret of success in trading is to experience failure. Because that is a reason that you'll need to grow up, add some more knowledge, and to find strategies that will work with us together. Even in the stock market or any business, losing is a part of it, and by that mistakes, we are able to learn, a thing that helps us to think another in order to prevent the recurrence of such mistake.

Upon reading all comments this one caught my attention. I believe if there is any secret in trading it is definitely the experience of being a failure. Failure not only gives you a lesson and experience but makes you strong as well. I bet even those successful ones had this experience before and experiencing the failure makes them grow to what they are now. Being a failure implies that you are bad yet it makes you better. Heard the quote "Failure is the best teacher"? I think that will sum it all up.

You wouldn't learn if you wont accept and learn from those mistakes and if you are a type that do hate or being too perfectionist then you would most likely avoid this kind of situation

or would tend to leave without even trying hard to make improvements just because you are afraid to lose money.When it comes to secret to success then there are lots of factors

that should be considered and actively engagement with it will be one of the fastest route plus having those lots of trials and errors will really make you learn along the way
and of course mistakes and losses are part of it and that should really be accepted.

[DevilSlayer]

The secret of success in trading is to experience failure. Because that is a reason that you'll need to grow up, add some more knowledge, and to find strategies that will work with us together. Even in the stock market or any business, losing is a part of it, and by that mistakes, we are able to learn, a thing that helps us to think another in order to prevent the recurrence of such mistake.

Upon reading all comments this one caught my attention. I believe if there is any secret in trading it is definitely the experience of being a failure. Failure not only gives you a lesson and experience but makes you strong as well. I bet even those successful ones had this experience before and experiencing the failure makes them grow to what they are now. Being a failure implies that you are bad yet it makes you better. Heard the quote "Failure is the best teacher"? I think that will sum it all up.

You wouldn't learn if you wont accept and learn from those mistakes and if you are a type that do hate or being too perfectionist then you would most likely avoid this kind of situation

or would tend to leave without even trying hard to make improvements just because you are afraid to lose money.When it comes to secret to success then there are lots of factors

that should be considered and actively engagement with it will be one of the fastest route plus having those lots of trials and errors will really make you learn along the way
and of course mistakes and losses are part of it and that should really be accepted.

The dangerous phrase that we should avoid is "I know that" it doesn't matter if you are a beginner or professional because that phrase is a threat in your trading journey wherein you can become boastful even though you do not really understand what it is. As a trader, I able to understand why I keep making mistakes and why losses are inevitable. There is no really sure profit in trading where a certain strategy have 100% win rate. It is all about probability wherein if our bias didn't materialize, we have a plan in our risk management in order for us to not experience huge losses. Actually, it is good to make mistakes in our beginning journey because in that way we can understand that trading is not just about luck and skill. Managing risks are very important where we prevent ourselves to incur huge losses even though we commit mistakes in our execution.

[MCobian]

To succeed in trading we must have patience, do not rush to make profits when trading. Because chasing instant profit in trading
will only lead to losses, a lot to consider in order to determine the right purchase price. Do everything according to the basic rules of
trading, do market analysis first. After that we can determine the right strategy to be able to generate profits when trading. If the price
drops suddenly, don't panic, stay patient and wait until the price goes up again.

[Btc_1856]

To succeed in trading we must have patience, do not rush to make profits when trading. Because chasing instant profit in trading
will only lead to losses, a lot to consider in order to determine the right purchase price. Do everything according to the basic rules of
trading, do market analysis first. After that we can determine the right strategy to be able to generate profits when trading. If the price
drops suddenly, don't panic, stay patient and wait until the price goes up again.

You are right, we should always analyze the market situation and also on which coin we are investing. Yes, we should be very patient in trading because without patient it is impossible to make a profit, day trading will work only to those who have trading skills and inexperience trader will lose their money in day trading and we should be cautious.