Follow a trading process.

[milewilda]

In crypto currency, i suppose that there are two P's, Profit and process.

We also have patience and yes it does have its role to play in trading, sometimes a little more patience does make the difference between profiting or closing a trade that hasn't gone as planned. Profit should be the last P, first should be the Process while Patience comes next. The issue with most new traders are s the lack patience in the aspect of giving the market time. The just want to start profiting from the very moment they join the trading profession.

There's more to trading than just buying and selling although that's the core aspect. Every trader needs to earn the experience and that can only be gotten from continue practice which might result to lost at some point. There's a process and any traders that don't follow then ends his journey in the industry as quick as they started.

There are such decisions on where plans are meant to be broken basing up with your own gut and intuition.The important thing here is that you do know on what you're doing
and everything does indeed in a process.Dont hurry on things because if you do then that would really be prone to mistakes.Just follow on what you have learn along the way
or in the process and taking the possible experience that you would able to obtain because this would really be helpful in molding up your skills and making
you as a better trader.

Some are just too impatient and just want to be directly be good at trading in a short span of time which is really very wrong.

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[Oceat]

Well, if you are dedicated to learn and struggle at the same time then it will come to you no matter what. That is the results of paving your path to the success, some try it may take some months or years to master it but as long as you don't give up easily then you deserve the fruit of your hard work. Of course, process is on the way to complete your mastery of what you expect what would happen to you in the future.

This just really a matter of patience and passion or dedication to learn because if you dont have these then you would just easily quit and ran away if you do experience losses.
In dealing with this market then its just normal to have those losses the thing here is that you do able to learn with those mistakes and mold yourself to be a better trader later on.
Move forward and learn on what you must learn along the way.This wont really be just talking about several days or couple of weeks but this will take years.
The learning process is infinite because even veteran traders do still keep learning as they do let theirselves involved in the market.

Just like I said, it won't be easy but you have to persevere and extend your patience if you really want to achieve your goals in trading. Trading is not just a pump and dump then profit, trading is a very complex kind of profession. Learning through books is not enough, you also have to apply it in the market to see what level of mastery you are in trading. I would say this is a long term learning while trading at the same time.

[Globb0]

Don't get trapped in tools if x do y

better to react to the situation.

and a tricky thing? don't do the same thing twice!

[Ayiranorea]

Op has mentioned two P's and missed the important 'P'. Three P's are required for trading. The prime focus is the profit in my view, because on each and every trade the process is the same. Buy at a reduced price and sell at a price higher than the buying price. This process can't be followed everytime, because the market fluctuations are very big with cryptocurrencies compared to different other sources available for investing and trading. At times user needs to have patience which is the most important 'P' with trading to experience the profit 'P'

[usekevin]

In crypto currency, i suppose that there are two P's, Profit and process.

Oone core words i have for newbies  and enthusiasts in the space today is that they should follow the process. Result might not come early or sooner as you expect it to do, but it will yield in profits; if you stick to your process rather than chasing profits.

NB: This is a wake up call to all traders to develop a trading skill or perhaps strategy; and ensure to stick to the process until perfection, and you can watch the profits follow.

To make a profit, the trader should wait for the complete process.Sometimes the process may delay but it will give a bulk some profit for sure.To get a good profit, you should hold your coin most of time. Holding is the key to gain a profit from trading.But people was not have a look into it.The new people should use this key to success in trading.

[nelson4lov]

For one, I do agree with OP that every trader should have a system or process that they use to identify trading opportunities, take advantage of the said opportunities and actually profiting from them. For everyone having mixed thoughts/feelings about this, here are a couple of points:

1. Better understand your trading style: Whether we chose to believe it or not, every trader has a trading style and whenever we find ourselves trying to fit into someone's style/system, then we're setting ourselves up to fail. That us why it is important to develop our very own trading system. Developing a trading system revolves around understanding what works for us and what doesn't. Might take a few trial and errors but we'd get there.

2.  You become a profitable trader: One of the beautiful things about having a trading system is that, it does help us to escape some trading pitfalls and become more profitable. Since we don't try to force trades to fit our system, it does everything for us. That greatly increases our odds to get more winning trades.

Having a trading system goes beyond the regular technical and fundamental analysis. It helps us build the base of our trading career and thus, shouldn't be joked with.

[death69]

Creating our own habit our process for trading is easy. The hard thing is that you need to be disciplined and follow strictly your rules. I have seen many people who make their own rules but fail to follow because they can not control their behaviors. Their emtion is likely to control them.

Experience and training are needed so as to understand the concept of being disciplined. You cant not be a trader in a day but after a year, with experience, discipline and efforts, you will be able to create your own rules for consistent winning

[Hamphser]

Creating our own habit our process for trading is easy. The hard thing is that you need to be disciplined and follow strictly your rules. I have seen many people who make their own rules but fail to follow because they can not control their behaviors. Their emtion is likely to control them.

Experience and training are needed so as to understand the concept of being disciplined. You cant not be a trader in a day but after a year, with experience, discipline and efforts, you will be able to create your own rules for consistent winning

Emotion in the sense on where they do find out other strategies that they seem for it to worked then they do lost their track or to stick
with their own rules or plans and this is the primary mistake of common who do tend to trade where emotions is really a great factor that
do affect on someones mind.

Learning process do takes time and it would really be easy if you do follow up on whats to your mind and strictly sticking with it.You can apply others idea and put up to your
own but dont rely on it too much.Nothing beats out if you do create your own made system which might or not might work for you.
Its a trial and error process.

[Rengga Jati]

If it is about the beginner trader, it will not only those two P, but it is also important to think about one "R", that is RISK.
In trading, we do not only pay attention to the process, and also profits, attention to the risk is also important. First, the basic thing to know about trading is its profit and risks. based on those two basic things, it will drive us to decide what kind of process it will be. The process will really determine the result both profit or even the risk of losing our funds.

No need to tell that to those experienced traders.

You are right, this idea will not impact professional traders because they know more than it. They probably know that trading is not only about it. This idea may be too general for them and also actually for me. I am not a good trader, but I also know that I need the process to be good enough. But here, probably what kind of strategy and also analysis that will help us in the process to get profits or even to Los something.

[CryptopreneurBrainboss]

Some are just too impatient and just want to be directly be good at trading in a short span of time which is really very wrong.

Very true and some blames are to be given to the so-called trading progressional on social media decieving people on how you can make money quickly from trading cryptocurrencies. No doubt there's money to be made here but it isn't some quick money scheme that you'll join and expect to make it in a very short time frame. If that does happen then it'll luck playing its role and shouldn't be seen as something you can replicate with another user if not you might end up losing it all due to too much confidence.

Trading takes month to master and years to perfect, you can't call yourself a pro traded if you don't have years of experience that show for it. Been profitable in a very short time frame can be very deceiving. Don't let it get into your head and make you feel invincible.

[Savemore]

Some are just too impatient and just want to be directly be good at trading in a short span of time which is really very wrong.

Very true and some blames are to be given to the so-called trading progressional on social media decieving people on how you can make money quickly from trading cryptocurrencies. No doubt there's money to be made here but it isn't some quick money scheme that you'll join and expect to make it in a very short time frame. If that does happen then it'll luck playing its role and shouldn't be seen as something you can replicate with another user if not you might end up losing it all due to too much confidence.

Trading takes month to master and years to perfect, you can't call yourself a pro traded if you don't have years of experience that show for it. Been profitable in a very short time frame can be very deceiving. Don't let it get into your head and make you feel invincible.

They do not have good mindset because they are thinking quick rich wherein they want to become easily even though they are new in the market. Those kind of people are not unique anymore because they are usually the prey in the market where they keep deceiving by a lot of scammers all over the internet. There is nothing wrong with becoming rich in just months, the real problem is people do not have enough knowledge where they are too lazy to learn and to make a research about the investment that they will do and it is the reason why they keep failing.

[davinchi]

When you are in crypto trading, patience is the most important thing. If you set yourself a goal and if you find a good strategy that could work, as long as you do not deviate from your path and keep grinding for a long period of time, you will eventually make a profit. In real life, there will be people who make more money, but remember there are tons who would lose money as well, so making a profit no matter how big or small should be the goal here.

If you look at people who make 10x and be upset over your 20% profit, you are going to ignore the people who lost 50% during the same period. Do not try to be like the people who made 10x, but try to avoid being like the people who lost 50% instead, if you focus on that part, you are going to be successful in crypto trading.

[TheGreatPython]

while following the process we also have to look at the other factors to evaluate the profits.

If you follow the trading process which involves making mistake, learning and improving then you don't have to think about profits actually because you will have profits automatically coming your way. That is what the OP is focusing on because once you start following the procedure the profits follow you. It is similar to working hard in the gym and maintaining the good diet routine and your body will improve itself you don't have to focus on that separately.

I have myself faced losses at times despite following the process. So it's better to stick to strategy and act according to the market rather than being determined with the process.

Loss is just part of the process and you have to improve from mistakes because that is what the learning and trading process is all about. I don't think there is a single trader even born who didn't made mistakes but quickly they learned and improved classify them.

[error08]

When you are in crypto trading, patience is the most important thing. If you set yourself a goal and if you find a good strategy that could work, as long as you do not deviate from your path and keep grinding for a long period of time, you will eventually make a profit. In real life, there will be people who make more money, but remember there are tons who would lose money as well, so making a profit no matter how big or small should be the goal here.

If you look at people who make 10x and be upset over your 20% profit, you are going to ignore the people who lost 50% during the same period. Do not try to be like the people who made 10x, but try to avoid being like the people who lost 50% instead, if you focus on that part, you are going to be successful in crypto trading.

The typical mistake for traders is impatience, if the price of bitcoin or altcoins declining, they follow the fud to sell out even though there is still a chance for the coins price to increase in the next few weeks.
Yeah, we need to create our strategy, then create the portfolio to note the entry price, how much profit to acquire, at what point to sell. All of that is very important to improve capabilities in terms of risk management and financial management. Furthermore, the percentage of profit we get will encourage us to keep going on trading and become an experience for making further decisions.

[carlisle1]

When you are in crypto trading, patience is the most important thing. If you set yourself a goal and if you find a good strategy that could work, as long as you do not deviate from your path and keep grinding for a long period of time, you will eventually make a profit. In real life, there will be people who make more money, but remember there are tons who would lose money as well, so making a profit no matter how big or small should be the goal here.

Depend on your Plan in Crypto Because it is always been advice the word "HODL" but if you are not into long run and all you want is to atleast profit a little each time,then better comply with Daytrading or semi long term ,Buying Coins that has potential Movement in a week or month,if you come to Find those then That is a safe investment strategy.

If you look at people who make 10x and be upset over your 20% profit, you are going to ignore the people who lost 50% during the same period. Do not try to be like the people who made 10x, but try to avoid being like the people who lost 50% instead, if you focus on that part, you are going to be successful in crypto trading.

Comparing our profit to others specially in trading is a bad omen because this may cause you in finding more percent of income while you are in a eagerness,This will turn you to be greedy and eventually a Loser,Just focus on your strategy and Be Calm.

[Peanutswar]

Some people would like to aim to get more profit regarding trading but it's worth it?
Some of them risk a large amount of money just to get more income some of them are already skilled but how about the beginners this is the misconception right here that the trading is just easy.

It depends on your capabilities if you can risk more go
If you want to play safe go

No one can stop you but again at the end of the day always profit is the goal.

[mersal]

Learn the trading process instead of following it with minimal capital is much more effective in my opinion. There are people who expect to make profits from their first trade but it is not a practical thing, so they have to accept even if they make losses which will make them learn it better and not to commit those mistakes in their future trades worth more value than their learning period.

[BTCappu]

In crypto currency, i suppose that there are two P's, Profit and process.

Oone core words i have for newbies  and enthusiasts in the space today is that they should follow the process. Result might not come early or sooner as you expect it to do, but it will yield in profits; if you stick to your process rather than chasing profits.

NB: This is a wake up call to all traders to develop a trading skill or perhaps strategy; and ensure to stick to the process until perfection, and you can watch the profits follow.

Your point is good enough for the newbies who joined newly in trading. They need to follow and develop a strategy for themselves. But it is not efficient for the experienced traders who already relatively connected with trading. I believe that all the experienced traders already have their own strategy and policy to follow.

And all the talk about processes are useless unless you have developed patience and the ability to read the market because you may follow any process and if you are bad at times when price goes down you might end up selling your coins.

For people who trade and invest in altcoins have to be even more dynamic and active because the market is more volatile than Bitcoin and some coins are made to pump and then dump so if you miss the chance you are done.

[Inkdatar]

In trading there is a necessary steps to do before starting your journey in trading. Make a trading plan than chasing a quick profits. In order for us to be successful in trading we should know the process when to enter position and when to exit. Since market conditions can be shown in down or uptrend. However, having a solid trading plan profits will follow especially to those who are newbie in this journey.

[FanEagle]

Being emotional during trading is something you should avoid but many people can't, and it is understandable. For example during this falling period, a lot of people were scared that the bitcoin price would suddenly crash to unbelievable levels and that is why they ended up selling, I do not agree that should be something we should be afraid of, but that is what happened unfortunately for many people and they got out, some people even sold under $17k and already in a loss.

This is not something they should have done, do not be scared of the fall, but I also understand why they would be, we had a $20k to under $10k in like few months back in the day so they were afraid same thing could have happened and there were no proof that it wouldn't be like that, so I understand them too.