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Author Topic: Which is the secret to success in trading?  (Read 834 times)
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November 21, 2020, 07:39:38 PM
 #121

There's no secret to it. It is common knowledge that If you want to succeed at something you have to put the time into it, you have to study everything about it. There's no successful trader that become successful overnight, they have put thousands of hours to study how the market behaves, learning how to read charts, studying how other traders behave that basically, it becomes a part of them. There's no real secret to it. It is effort.

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November 21, 2020, 08:21:57 PM
 #122

You don't have to monitor the markets all of the time. Just because you don't day trade, you're no longer a trader. You're still considered as a trader if you buy and sell at any time that you want. It is when patience comes and makes it as an important attitude to cater your success through trading. Patience in a manner that you only sell when you get into profit, you don't make yourself affected by any bad news but you go according to your plan of when and how much is the price you're about to sell.
I read what you explained and it is like trading management that every trader must do, patience and also a self-made plan is what traders must do to be successful, without proper trading management traders will have a hard time getting success.
It is part of it, the management. Every trader can be good in their own perspective based from what they do and how they make their trades worth. As always, you need to be well-managed when you trade and you don't have to get caught by your emotion lest you're used to it.
That will be your main enemy in trades if you're very much emotional in each of your trades and success can't be reached if you're mostly depending to it.

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November 22, 2020, 04:45:33 AM
 #123

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November 22, 2020, 03:20:14 PM
 #124

there is nothing wrong with imitating trading, because before we find our own characteristics in trading we need to reflect on those who have been trading for a long time, the most important thing is high willingness and patience. because controlling emotions is very difficult, especially when faced with high volume market movements, often making emotions uncontrollable.
Imitating or learning from someone is never a bad idea but it becomes a problem when you are too dependent on someone else for your profits and that is why a lot of traders criticize copy trading because instead of learning you are only earning and in future this can have drastic consequences.

I have fortunately been able to read interviews and articles from some of the best traders, not in the crypto market but in general. They have one thing in common and that is to have a correct vision when you invest like if you read the story of how Jeff Bezos became so rich he always had the long term vision with Amazon and never focused on profits and that is what led to his success and same goes with investing and trading, have a good vision with what you are doing.

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November 22, 2020, 09:26:00 PM
 #125

there is nothing wrong with imitating trading, because before we find our own characteristics in trading we need to reflect on those who have been trading for a long time, the most important thing is high willingness and patience. because controlling emotions is very difficult, especially when faced with high volume market movements, often making emotions uncontrollable.
Imitating or learning from someone is never a bad idea but it becomes a problem when you are too dependent on someone else for your profits and that is why a lot of traders criticize copy trading because instead of learning you are only earning and in future this can have drastic consequences.

I have fortunately been able to read interviews and articles from some of the best traders, not in the crypto market but in general. They have one thing in common and that is to have a correct vision when you invest like if you read the story of how Jeff Bezos became so rich he always had the long term vision with Amazon and never focused on profits and that is what led to his success and same goes with investing and trading, have a good vision with what you are doing.

Always set goals or plans on making yourself better into this trading field.This might not really be that easy but it can possibly be learned if you do really put up some

efforts and time with it and of course where mistakes will be your best teacher into this kind of circumstances.You should have goals or targets on a specific period of time where

you do push up your limit and then relearn on what you had go along the way.Theres no secret when it comes to success but rather having that persistence of hardwork and dediction
on learning for yourself.

Dont be dependent too much into others just because you've been thinking that you can make it on your own.

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November 23, 2020, 03:56:33 PM
 #126

I don’t think there is anything such as secret when it comes to trading, it is open and clear and anyone can do it . There are no secrets you just need to have the knowledge, if you have no knowledge on how you’re going to do it, then tell me how you’re going to be successful.

Technical analysis should be something that you’re pretty good at. And secondly I don see anything wrong with copying other traders, it’s becoming a normal thing these days and people are benefiting from it. That you’re copying someone else in trading doesn’t mean you’re going to be winning all the time or lose all the time, trading will always be risky and unpredictable at most. But copy trading is still good
The success of a trading business lies in the investments and losses from these wettings. Previously I knew very little about business and did not understand much how to get a plus from trading and from investments in general. I could find out about all this after a while. One friend of mine began to help me in business and explained in general terms how to make money with almost nothing. After that, I also began to attend various business courses and websites that would improve my business skills. At the moment, I think I have developed quite enough, although there is still something to work on. Thanks to Tradera review, I have achieved a lot in business. Now I have a lot of finances and business ideas.
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November 23, 2020, 04:40:18 PM
 #127

For me success in trading with getting profit although few percent and I prefer to sell my trading assets after reach although with 5% or 7% and buy back again when price down, its my way because make us how to consist to get much profit and repeat every day without waiting for long term to get much profit, some time I have disappointed why sell very quickly if holding few hours or days later maybe price will wake up more than 40% but I try to be faster for selling my trading coin, I wanna get less risk although with little profit but keep going on every day and I try without have hold my coin for long time and keep continue to get profit every time.


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November 23, 2020, 04:51:06 PM
 #128

For me success in trading with getting profit although few percent and I prefer to sell my trading assets after reach although with 5% or 7% and buy back again when price down, its my way because make us how to consist to get much profit and repeat every day without waiting for long term to get much profit, some time I have disappointed why sell very quickly if holding few hours or days later maybe price will wake up more than 40% but I try to be faster for selling my trading coin, I wanna get less risk although with little profit but keep going on every day and I try without have hold my coin for long time and keep continue to get profit every time.
Small profits but if consistent then in the end it is a good result too, there is nothing wrong in any strategy if you can calculate it well and always be patient to sell at a certain target. Because the mistake that often occurs is lack of patience, it doesn't matter if you even only follow others because if you can be patient and realize buying at a lower price, then in the end it will make a good profit too. So in trading, I think it depends on patience and awareness about the right time to buy and sell, if that has been considered properly I think the trades will be at least profitable.

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November 23, 2020, 05:26:31 PM
 #129

The most important thing to success in trading probably "the information", that's what drives the trend in the market.
Always read and watch the news of what going on in the world, especially the economy, institutional investors buying more coins, stocks, projects development, even the elections, the point is up-to-date information about what's going on. The pattern will follow the trend on the market, that's what pushes the price to rise or fall to a certain degree.

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November 23, 2020, 07:46:26 PM
 #130

Patience is definitely a big deal I agree with that. There are tons of companies nowadays who buy from increased price and stay calm and just wait the waves. Look at grayscale and microstragy for example, they bought at 10k when price moved from 4k, everyone said "bitcoin already made 2.5x increase why would they buy now that bitcoin is high. Well they made another 80% profit from this on top of that 2.5x increase that was before they got in.

This means as long as you can wait, you can make a profit. Obviously it is not a big problem that they would have because they have a lot of money and they can wait easily compared to us who do not have that much money and that is why I really think that they are at a big advantage but if you can copy what they do, you can earn too.

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Lanatsa
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November 23, 2020, 11:25:08 PM
 #131

The most important thing to success in trading probably "the information", that's what drives the trend in the market.
Always read and watch the news of what going on in the world, especially the economy, institutional investors buying more coins, stocks, projects development, even the elections, the point is up-to-date information about what's going on. The pattern will follow the trend on the market, that's what pushes the price to rise or fall to a certain degree.
When it comes to fundamentals then cryptocurrency market isn't really that highly reactive but somehow it can really make effect
towards price movement which might or might not precise thing for you to rely or based on.

You should always keep yourself informed not only on new but also in other aspects as well like trading or technical indicators.

When you do make yourself good in terms of profitability then that's what you considered on being success.

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November 23, 2020, 11:59:10 PM
 #132

The most important thing to success in trading probably "the information", that's what drives the trend in the market.
Always read and watch the news of what going on in the world, especially the economy, institutional investors buying more coins, stocks, projects development, even the elections, the point is up-to-date information about what's going on. The pattern will follow the trend on the market, that's what pushes the price to rise or fall to a certain degree.
Read news and other information around the world is for fundamental analysis trader. It is a good aspect of trading. However, i dont have much time to scheme news. Therefore, i choose technical analysis which is more suitable for me

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TitanGEL
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November 24, 2020, 03:46:39 AM
 #133

Patience is definitely a big deal I agree with that. There are tons of companies nowadays who buy from increased price and stay calm and just wait the waves. Look at grayscale and microstragy for example, they bought at 10k when price moved from 4k, everyone said "bitcoin already made 2.5x increase why would they buy now that bitcoin is high. Well they made another 80% profit from this on top of that 2.5x increase that was before they got in.

This means as long as you can wait, you can make a profit. Obviously it is not a big problem that they would have because they have a lot of money and they can wait easily compared to us who do not have that much money and that is why I really think that they are at a big advantage but if you can copy what they do, you can earn too.
Patience is important but for me it is depend on what type of trader are you, I'm a scalper trader wherein I just hold the token that I currently trading for minutes and hours. There are; any types of trader like position trade,  scalpers and swing traders. I often do margin trading so patience for me is a big thing. Patience are usually for the long term investors who hold huge funds. People mistakenly patience is the key but it is just a factor, the real key is mastery wherein we know what we are doing and we are not just buying and selling without any reason..

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November 24, 2020, 04:49:52 AM
Merited by TimeTeller (1)
 #134

keep on practicing, and be determine. you can't perfect it in just a snap, in success you need to sacrifice time and exert more effort. you also need to control yourself, don't be so greedy and don't be afraid to decide. Traders has their own strategy and techniques, it's just a matter of self control and right decision making.








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November 24, 2020, 04:13:30 PM
 #135

The most important thing to success in trading probably "the information", that's what drives the trend in the market.
Always read and watch the news of what going on in the world, especially the economy, institutional investors buying more coins, stocks, projects development, even the elections, the point is up-to-date information about what's going on. The pattern will follow the trend on the market, that's what pushes the price to rise or fall to a certain degree.
Read news and other information around the world is for fundamental analysis trader. It is a good aspect of trading. However, i dont have much time to scheme news. Therefore, i choose technical analysis which is more suitable for me

each trader does have different skills, some use analytical techniques,
some use news-based techniques, even use both to trade, indeed we can't fix,
and we have to learn first if you want to trade.

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November 24, 2020, 06:48:08 PM
 #136

Patience is important but for me it is depend on what type of trader are you, I'm a scalper trader wherein I just hold the token that I currently trading for minutes and hours. There are; any types of trader like position trade,  scalpers and swing traders. I often do margin trading so patience for me is a big thing. Patience are usually for the long term investors who hold huge funds. People mistakenly patience is the key but it is just a factor, the real key is mastery wherein we know what we are doing and we are not just buying and selling without any reason..
Even if you are doing trades within minutes, patience is still very important and doesn't change a thing, or if you are doing margin or futures they are all the same. Because, if you are doing trades within minutes, you might have the stress and excitement of hitting that button constantly, and doing it a bit too late or a bit too early could lose you a lot of money. However, if you are patient and calm you could definitely make a trade that would be perfect for you.

Plus if you do spot trading that is quick, you could definitely stretch that to over few hours instead of few minutes as well, same goes for margin sometimes as well. Find the best time to buy or sell, doesn't matter how quick you are trading there are always better places to buy and sell if you could take a look at few hours and pick the right peak.

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November 24, 2020, 07:37:16 PM
 #137

...
trust yourself and do not copy others, because the other can be wrong.
...
don't copy another but listen to another suggestion...
For beginners, do not ever decide something without thinking or listening to advice from other people who are experienced. Trading is not just 'buy or sell' but also a matter of time, if you buy or sell at the wrong time then you are definitely losing.

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November 24, 2020, 07:59:20 PM
 #138

I agree with the idea that there is no secret, some people think that just because someone is successful at an activity that person knows something that they don't and for the most part that is not true, what happens is that the people that are successful are not afraid to put in the time and effort to develop the skills necessary to become good at whatever they want, this is why we see so many newbies trying to become traders and once they are unavailable to get great profits in a matter of a month or two they get desperate and then they take bad decisions, while those that are destined to become good traders are not afraid to wait for months or even years for the opportunity for a good trade to appear.
That is it,  your skill and your brain is the important aspect towards becoming a successful trader, BoT or EA are just automation that aid trading however it can never be as perfect or reliable as Individual input,
The ability to analyze, study Price Action coupled with one or two indicators using your brain will enable such a trader to be profitable based on experience while managing a trade.
A desperate trader can never be profitable in a long run because trading encompass patience, skills, money management  and  higher reward  to risk ratio.
You touch an interesting point, sometimes when I speak to people that have begun their journey as traders they tell me about all the indicators and strategies that they use and when I take a look at their charts it is a complete mess, it doesn't matter how smart you are no one is going to be able to understand what is going on in that chart, for the most part you only need three or four indicators to be able to become a competent trader, but obviously this is only true if you know how to use them.



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Rainbot
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November 25, 2020, 09:22:55 AM
 #139

I believe that is too long to even consider waiting for your cash on the off chance that you excitedly hoping to procure exchanging. It's smarter to peruse books watching recordings that can assist you with learning and add more information. There no mystery but instead this do truly require determination, consistence and a long persistence yet we do manage unpredictable market which as a feature of nature of person which is excessively enthusiastic and responsive then that is on of the variables that do truly influence our exchanging or into our objective.

yohananaomi
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November 25, 2020, 09:35:51 AM
 #140

...
trust yourself and do not copy others, because the other can be wrong.
...
don't copy another but listen to another suggestion...
For beginners, do not ever decide something without thinking or listening to advice from other people who are experienced. Trading is not just 'buy or sell' but also a matter of time, if you buy or sell at the wrong time then you are definitely losing.


good guidelines from a friend to those who are not used to doing it. because it seems like an easy thing because it also takes patience and does not panic quickly before determining the next step to do the best.
very true, trading is not just selling and buying and this I really agree with because have to analyze it well because it could be that the actions we will take will backfire on us and suffer losses.

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