How do you develop stronger hands?

[pixie85]

In my case taking profit helps. Being rich is great too

When I made my first investment i had almost no money so losing even 1000 dollars would be a huge hit for me. When I made my first profit from trading I got out and kept playing with profit. Telling myself that all that I'm risking is profit made me more confident.

Understanding what you're investing in also makes you not care about fake news and other people's opinions. You know what you know and that's important.

[Yamifoud]

Understanding what you're investing in also makes you not care about fake news and other people's opinions. You know what you know and that's important.

That is what we called FOCUS.
Many traders have been fooled by fake news that typically makes huge changes in their decisions and mostly it gives negative results. Though we have sometimes to watch and listen to the news for our market analysis, we also have to think if that is reliable or not because many news has paid to publish wrong information.

And the other thing is that we need to have a plan. Simple, this gives us direction and helping us to make good decisions.

[bitgolden]

Trading is a lot of trials and error thats why you would able to develop things according into your experience.Developing something like this would really take some time and doesnt really make you a better trader in a short span or with less engagement on it. TA's are common but sticking out to plan is really the hardest challenging due to our emotional aspect where plans or goals are mainly affected.
It can really be altered in an instant when you arent really good on handling yourself or being too disciplined into your trading.

That quick money making wannabes are the real trouble in all of trading world, not even just in crypto, it is true in everything else as well. Becoming a great trader takes literally years, you do not become a great one inside even one year, if you have been trading for 10 months and you will still not be a great trader, sure you would be on your way to become one, and you will no longer be a newbie and you would know a lot of stuff, but a great trader becomes a great trader in years of hard work.

How can someone think there are people out there with 10-20 years of trading experience, 5+ years of crypto trading on top of that and they make profit so they could be also making a profit with their few month trading experience and barely reading any material about how trading works? At the end of the day there needs to be some losers so that there could be winners, I guess those greedy hungry newbies are the losers we need to profit.

[kram31]

As an individual traders in cryptocurrency, you need to have a good strategy, that's why in checking monitoring the graph you could
find an idea if it is the right timing or not in terms of Buy and sell whatever altcoins you have or Bitcoin either. So, if you hit the price you
set in the platform it means there's a lot of traders or whale controlling the movement in the chart.

[crzy]

To develop a stronger hands, you must loss something because personally, I loss my capital before because of being greedy and afraid of the market, and that time is my turning point where I realized that I have to improve myself and I have to be more disciplined. If you don't want to experience this one then better to start building yourself first, don't think for easy profit and always think before you trade, the market is very dangerous to those who don't have the right knowledge. 

[Sled]

^ Discipline is very important when you are in the trading field, you should always set in your mind that whatever consequences happen you always prepared, and then next is stick to the plan. A Stonger hand will depend on your mind and emotion, you should not follow FUD and as they say, stick to the plan always. Nevertheless, you cant control the crypto market due to its volatile price but it does not mean you can't take advantage of it. That's why those who already understand investing in crypto especially bitcoin are preferred to hold long-term than a day of trading.

Anyway, I can't blame myself for being a FUD fanatic and being a panic seller. Now I'd found out that I was fooled by this fake news while it totally ruins my plan.
TBH, I easily got tempted to sell my Bitcoin when the market dumps even it was a loss for me. Maybe it is time to change this kind of behavior and let the positive insights live on me.

[el kaka22]

People think that this is a god given thing but it is not, it is about practice and over time you just get used to it as well. I have been around bitcoin so much that no increase ever shocks me anymore and no crash shocks me neither, I can see bitcoin become 200k in 3 months, or it could become 5k and all of that sounds as reasonable as it gets.

Getting "bored" of the movements of bitcoin is the key to this, of course it is not really being bored because when it goes up that means I profit and I am happy about it, but there is nothing surprising about bitcoin going up anymore, even 40k wasn't really that weird because why wouldn't it be 40k? Eventually it would be anyway, so I kind of expect bitcoin to go big and go low all the time. When you are not shocked about the prices anymore, you have stronger hands because you do not care about the volatility anymore.

[CryptopreneurBrainboss]

Let's say you analyze the charts, you make a call, and place a trade with a certain time horizon.  How do you avoid getting 'shaken out' in the short term? 
Any feedback welcome.

Staying firm to the decision you have taken should do the trick, sure you might alter your trades at times and come out successfully some times but that's not a guarantee you can carry-out such alterations simultaneously and be profitable all the times. Doing so also means you didn't carry-out your TA perfectly and would start making you loss confidence in yourself.

The market is under the influence of manipulators, the whales know their games can trick gullible traders to falling victims to their games so they do this occasionally. You just have to stick to you plans and if they don't play out as you have expected you work on yourself in improving your chart reading skills/interpretation.

[milewilda]

Let's say you analyze the charts, you make a call, and place a trade with a certain time horizon.  How do you avoid getting 'shaken out' in the short term? 
Any feedback welcome.

Staying firm to the decision you have taken should do the trick, sure you might alter your trades at times and come out successfully some times but that's not a guarantee you can carry-out such alterations simultaneously and be profitable all the times. Doing so also means you didn't carry-out your TA perfectly and would start making you loss confidence in yourself.

The market is under the influence of manipulators, the whales know their games can trick gullible traders to falling victims to their games so they do this occasionally. You just have to stick to you plans and if they don't play out as you have expected you work on yourself in improving your chart reading skills/interpretation.

But there are change of mind or decisions that can definitely save you up on some unfortunate events and i can tell you  that it had saved me for a lots of times where i do hunch about on changing
my decisions or goals on a specific trade on a certain day.It isnt as always though but there are really times that i do really experience it along the way. Staying firm is always a good thing or suggested one
because sticking to plan are much more preferable because if that one doesnt work then you can jump to other one but it isnt really bad either to change up something which you do saw
that there might be some probabilities of success.

[Yatsan]

Just trust the process and stick to the plan for you have to trust the strategy you have made if it will work out or not. Better see to it that you won't get distracted upon doing it and avoid getting mixed up by emotions on doing decisions for you will just end up pulling out and regretting it once the plan you have made out do really works. Failure do always come before you can gain success because failure does not just give experience but as well as learning. If you are afraid of taking risks and trusting the plan you have made out the could be possible to work out, then trading might not be for you. If you wanted to test how tough you are in trading, you better hold into your decisions and assess once it was all done.

[imstillthebest]

im typically more profitable if I do not even look at the chart

this .. already answers your question . if you believe it do it but to most of the traders utilizing chart is important . if you can trade well without charts , you may have a special talent that cannot be found elsewhere

I'm also thinking, if I had a read that the price was going to fall short term before the long, then I could get a better entry, but it almost always takes me by surprise. Is it whales that are swinging their whale dicks, that do that (and thus why I don't see it lining up that way), or is it just me? 

it was like the whales read whats on your mind and they counter you but no thats not a new thing in the market . we often expect what is unexpected .  you are normal

to develop strong hands you must be strong build muscle and work out . joke  . you need to be confident with your moves .

[Latviand]

You should have the guts to risk what you can afford to lose in trading and in order to deal with that, you should practice having that mindset and dealing with the market.

It is hard to develop patience, confidence, and skills when you are not really dealing with how playful the market is. I just don't get it when people are saying that you should trade because it is profitable.

It is somehow true but that's not a 100% win or profit for you because in trading, risks are always there and will make you weak, scared, and incapable of losing your capital.

[worle1bm]

There are many threads discussed before on this type of topic and you can have a check over them if you want to have complete knowledge regarding this matter. But most importantly there are some points which I think are useful in trading which are as follows:

1)Set your profits margin: You should be clear regarding your profits and you must not compare your returns with other investors as your profits might be someone expense. So you should be satisfied with your returns over the market instead of getting greedy and loosing all your funds in getting a little more.

2) Experience comes from mistake: Don't get hurt if your suffer loss in the trading during dump situation which is quite common for the new investors as will give you experience to deal with panic and complex situation of crypto market.

3) Invest what you afford to loose:  As stated by many invest only upto that amount in starting which you are willing to loose otherwise you will not survive in this highly volatile market for long run and profits will never get into your basket so be safe and invest wisely.

[ethereumhunter]

All you can do is control your emotion because that is the basic thing you need to do when the market drops. You can set the stop-loss, but if you still panic, I do not think you can get the right price to set the stop-loss. If you can control your emotion, your mind will see a clear sign when you should place the price to stop-loss. You can see another sign when to buy back after you sell your coin, and who knows, with having control of your emotion, you will see a chance to make another profit in the bear market.

[laredo7mm]

Understanding what you're investing in also makes you not care about fake news and other people's opinions. You know what you know and that's important.

New traders mostly do mistakes in these parts. They heard someone saying a price prediction of a token after few days they go to the exchange and buy that token without judging it. A trader should always stick to his plan and always books his profits. Many times price bounce back just from above my buying target and this happen often. In these case, if I let my emotions control that trade then I am already in the losing side.

[EvAng3l1on]

In a trader's perspective: assuming you're a decent trader, then just set your plans and price targets, and totally stick to your plan. If your emotions still get a hold of you, then you either toughen up or just admit that trading is not for you.

In an investor's perspective: Though I like buying at dips, I mostly don't even look at charts and time entries lol. After approximately 4 years of holding, FUD and negative posts in general pretty much does nothing to me. Knowledge and experience will simply make you realize that all of those are just small bumps and hindrances for the long term.

I like your thought on this... it does not stray from reality

[bitgolden]

Just trust the process and stick to the plan for you have to trust the strategy you have made if it will work out or not. Better see to it that you won't get distracted upon doing it and avoid getting mixed up by emotions on doing decisions for you will just end up pulling out and regretting it once the plan you have made out do really works. Failure do always come before you can gain success because failure does not just give experience but as well as learning. If you are afraid of taking risks and trusting the plan you have made out the could be possible to work out, then trading might not be for you. If you wanted to test how tough you are in trading, you better hold into your decisions and assess once it was all done.

That is very true and that should be printed out and hang on the walls of every trader. If you have a plan in mind and you want to follow that plan, you should be focusing purely on the fact that you could make a profit from following that plan and having extra emotional movements and early outs and getting scared will not help you no matter what.

Hence I believe it is vitally important for a trader to be patient, because if they can wait it out and they can hang on, they will most probably profit from it. Strategies are usually good, rarely they fail, unless it was done by a newbie without a clue how they work, the only reason there are people who end up losing money is because they can't wait until the end of the strategy and how they could profit from it. Hell a simple buy and hold would profit you in the long term , it is literally that easy to profit.

[blckhawk]

Let's say you analyze the charts, you make a call, and place a trade with a certain time horizon.  How do you avoid getting 'shaken out' in the short term? 

I'm finding my calls are right, way more than 50% of the time, but I'm not as profitable a trader as I should be, because it seems more often than not, there's either a dump out, the chart starts to look like it's turning bearish and I begin to lose confidence in my calls.  Then I might set a stop loss and there's a shake-out, it eats through my order, then the trend turns around and basically does exactly what I had originally called.  Or if it starts dumping I might panic sell. 

I'm typically more profitable if I do not even look at the chart, like at all, after making my buy.  Not sure that's good either. 

What do you recommend in this case? 

I'm also thinking, if I had a read that the price was going to fall short term before the long, then I could get a better entry, but it almost always takes me by surprise. Is it whales that are swinging their whale dicks, that do that (and thus why I don't see it lining up that way), or is it just me? 

Any feedback welcome.

Just set aside your emotion because if you got carried away that is the time you'll get panic and lose everything that is why you must control as much as possible. The next thing to do is to have a plan and you gotta stick to it. There could times that your plan will not work but that is okay there will be a lot of opportunities ahead besides, it is normal in this market due to the fact it was volatile. Just don't be greedy and don't panic. Better to set a stop loss and make a target price to sell. And once you set your targets you don't need to watch the market all the time 'cause there's a chance that it would create uncertainty or confusion that could cause a panic.

[Viscore]

Understanding what you're investing in also makes you not care about fake news and other people's opinions. You know what you know and that's important.

New traders mostly do mistakes in these parts. They heard someone saying a price prediction of a token after few days they go to the exchange and buy that token without judging it. A trader should always stick to his plan and always books his profits. Many times price bounce back just from above my buying target and this happen often. In these case, if I let my emotions control that trade then I am already in the losing side.

There is no wrong with listening to others but what went wrong is that we don't spare time to think about it, we make decisions so fast.
I do watch the news, hearing FUDs, but I weigh them also if that is true or that only a fool. Usually, we feel regrets after, it sounds harsh but that is the reality and we commit mistakes because we are drag by our emotions.

And one way I think to have a stronger hand, is to face the reality. We can sometimes lose and sometimes win, that is exactly how trading will be.

[lixer]

The financial markets and trading offer the ability to earn huge profits and huge losses, risk-management and a responsible approach making sure that you truly understand everything you are doing is key to success in this fun, exciting and potentially very rewarding industry. Spend your time researching and learning as much as you can, learn about risk-management and try to always see what other people cannot - all these things motivates and develop me to remain in the trading.

You made some good points but the problem he mentioned is a little different and its not about risk management but it is related to panic avoidance and how to remain calm when times are gloomy and portfolio is dropping like crazy in dollars.

I can relate this problem and this is one reason why I limited my trading because no matter how confident I feel about a token and even Bitcoin but once the price starts to topple I just cannot control myself and feel like its the end of the world. I know it will recover but instincts are strange and decisions are rather emotionally. So now I avoid trading unless I just feel good about bitcoin price and do leverage trading.