Getting Used to The Market Situation is The Key to Becoming a Reliable Trader.

[Quidat]

"Getting used to the market situation is the key to becoming a reliable trader. "
is that right? Or not?

What do you guys think?

Since I've known bitcoin since 2015, the statement you said is true. The market cycle has developed rapidly there are new habits emerging and that's very different to what I've got a few years ago. A trader should continue to be able to read the ever-changing market situation. Otherwise they won't thrive and I think they're likely to suffer losses. Of course to avoid losses you should always adhere to a plan about the management of losses.
Bitcoin's habit of being the mecca of movement of all altcoins has been very different in 2015 and now. Maybe if you already know trading that year then you will know. For many years, the market has been very difficult to guess.

There's no pattern if you do ask me because market could really move out on random way just like into those old years on which it couldnt really be predicted until now.
The difference we do have here is the level of recognition and adoption on where it do add up volume and liquidity which is really great and as a trader or investor
then you should really get yourself get used to it and getting those things via experience is the most common way.You wouldnt sustain this
market if you dont have sufficient experience since you wont know on what you gonna do.

[SquallLeonhart]

When I bought at a high price and the price after I bought it turned out to be down drastically.
Because I didn't know the market situation and conditions, I panicked and was in a hurry to resell the coins I had bought at a high price. and in the end I lost.

But here after I know the market is bullish or bearish then I become calmer and don't panic easily.

This usually happens to beginners who are just getting into the world of cryptocurrency trading

No, not all the beginners are not losing in crypto trading because being a beginner is not your mistake but getting into crypto trading without practicing in demo market and then without proper knowledge and experience must be your biggest mistake which was the simple reason why you faced losses.

When you are good in technical analysis then there will be less possibility for you to get panic and to react according to market situations. You must learn all the required skills of technical analysis and then you should practice in live market with very least capital; after these if you enter into trading again then you will be able to make profits without getting driven by market fluctuations.

[stadus]

I mean, if you don't get used to it, you're always going to make weird decisions backed by impulsive decision making,

You know we were all wired differently, I must point out that getting used to some situations that is being able to adjust and adapt is much more easier for some persons than others, trading IMO is much easier for such persons. For the others who dwell on situations and don't easily adapt to them, it is going to be a hassle. If you fall into that category, that is the type that don't easily adjust and get familiar with situations, you must personally strive to develop this ability to be able to keep up with the everyday drama in trading.

If you aim to be more profitable in trading, then you should have to be more familiar on the market scenario and get used to it. Not only that, you need to understand too why such scenarios had happened and what's it causes. Because it will certainly happen again and again so you have to prepare for it so you won't committing the same mistakes again. For newbies, trading will be tough at first because they are new to the market and is not familiar yet, but once they become used to it and knows the reasons why they are happening, then they will know how to dwell with it, by not being panic and keep patient.

[EdenHazard]

Most of traders fail in the market and most of us can not beat the market.

So even if you can become a winner, a successful trader, I believe you will have to spend expensive cost before you get succeeded in market. Especially it's a very volatile market like crypto where there is no circuit break, no margin of changes intraday.

Only you can protect your capital. Remember, protect your capital is your first priority, not gain profit. Because as a trader, you will lose all if you lose all your capital. After losing it all, you will have nothing to do in the market.

+1

the thing is that the more time you spent trading in daily basis along with level up the knowledge .. the more experience you gained that leading to minimize the risk as crypto market alone is a super high risk market among others so yeah you might ended up in loss most of the times.
if it was what you mean op , i think it's an absolute yes.

[freedomgo]

Most of traders fail in the market and most of us can not beat the market.

So even if you can become a winner, a successful trader, I believe you will have to spend expensive cost before you get succeeded in market. Especially it's a very volatile market like crypto where there is no circuit break, no margin of changes intraday.

Only you can protect your capital. Remember, protect your capital is your first priority, not gain profit. Because as a trader, you will lose all if you lose all your capital. After losing it all, you will have nothing to do in the market.

+1

the thing is that the more time you spent trading in daily basis along with level up the knowledge .. the more experience you gained that leading to minimize the risk as crypto market alone is a super high risk market among others so yeah you might ended up in loss most of the times.
if it was what you mean op , i think it's an absolute yes.

Of course, if you have nothing left in your wallet, then you can't perform trading anymore. The point here is if you have been trading for long, you might have been aware on the consequences of the market when trading, but as your experience grows, you are also growing in your part not just of profits but also with the knowledge on how the market really looks like. As long as you get used to it and be able to understand its pros and cons in trading, i think that will be an edge to refrain your from committing losses.

[lalabotax]

"Getting used to the market situation is the key to becoming a reliable trader. "
is that right? Or not?

Getting used in this crypto market is based on personal experiences.
I mean that the more we know the jo and activities, the more we can understand and know about what we are doing, understand the risk, understand the positive and negative sides, understand what to do and not do.
Especially in trading crypto in which is very risky, it needs some personal experiences to be usual in trading and we can set our strategies, metal, emotional, and also other types of management to be better and better.
The most difficult thing is maybe when we are just starting, we may experience many losses, moreover if this is a new thing for us. that is why, always learn at first, learn and learn before we are umping into this crypto world or even other new jobs.

[fullhdpixel]

You must learn all the required skills of technical analysis and then you should practice in live market with very least capital; after these if you enter into trading again then you will be able to make profits without getting driven by market fluctuations.

Yeah, instead of getting used to market conditions with big capital and losses, all the beginners must be having alternate methods like you have mentioned to experience all the market fluctuations and to get used to them to gain all real time experiences like professional traders. But, not sure why beginners never consider demo accounts and out of greed, they do start with huge capital and then lose them very quickly.

The most difficult thing is maybe when we are just starting, we may experience many losses, moreover if this is a new thing for us. that is why, always learn at first, learn and learn before we are umping into this crypto world

Yes, learning should be the very first thing for crypto trader. When beginners are not patience to spend time and efforts to learn all the basics of trading, they might be never fit for highly challenging trading career because here everything is a test for our emotions.

[BuNga_cute]

"Getting used to the market situation is the key to becoming a reliable trader. "
is that right? Or not?

Getting used in this crypto market is based on personal experiences.
I mean that the more we know the jo and activities, the more we can understand and know about what we are doing, understand the risk, understand the positive and negative sides, understand what to do and not do.
Especially in trading crypto in which is very risky, it needs some personal experiences to be usual in trading and we can set our strategies, metal, emotional, and also other types of management to be better and better.
The most difficult thing is maybe when we are just starting, we may experience many losses, moreover if this is a new thing for us. that is why, always learn at first, learn and learn before we are umping into this crypto world or even other new jobs.

The more experienced in the crypto world, the more we will understand how the crypto world works. So it will be easier for us to understand how
to make a profit when trading crypto. In order to have experience in the crypto world, of course we must dare to start trading crypto, and get used
to starting with small capital. So when we experience losses, we will not be stressed and can consider the losses experienced as learning costs.
It doesn't matter if we lose a few times when we first trading, from there we will begin to learn to correct the mistakes we make, until we really
understand how not to make the same mistakes and can generate the profit we want. So don't be afraid to lose when trading, because it's part of
the learning process to become a successful trader.

[goldkingcoiner]

Rather than the market situation, the key factor is the trading part. Its impossible to know the market situation on an instant basis at all times, just like you can never know if someone is about to sell hundreds of millions of dollars worth of coin in the next minutes. The best trading strategy you can provide for yourself is not to become emotional and never to sell because of emotional thinking.

[Sanitough]

Rather than the market situation, the key factor is the trading part. Its impossible to know the market situation on an instant basis at all times, just like you can never know if someone is about to sell hundreds of millions of dollars worth of coin in the next minutes. The best trading strategy you can provide for yourself is not to become emotional and never to sell because of emotional thinking.

As long as you're not driven with greed or emotions, either in trading or in investing, then that will create positive results. In trading, you cannot guarantee making gains all the time as there will be inevitable losses even if you say you are an expert in the market. But if you can get used to the market situation and be able to understand the cause of every price movement, then it will always give you an edge to win over losses as you know already when is the best time to trade, and what coins will be most likely to be profitable in trading. Just stick to your plan and never be motivated with greed, i know you will attract good profits in the end.

[lixer]

if you can get used to the market situation and be able to understand the cause of every price movement, then it will always give you an edge to win over losses as you know already when is the best time to trade, and what coins will be most likely to be profitable in trading. Just stick to your plan and never be motivated with greed, i know you will attract good profits in the end.

This is the reason experience must be vital skill for any trader to have for being profitable in consistent manner.
Because you cannot turn experienced on the moment you decide about it but you need to be working hard and need to remain patience to gain knowledge and experience over the time. This is the reason even people are good in technical analysis facing losses due to lack of real-time experiences.

Getting used to market pressure will help anyone but at the same time you should focus on learning from your mistake and if you are not gaining any real time knowledge from your own experience (which happened due to your mistake) then staying with market for years may not make any differences.

[Kasabus]

if you can get used to the market situation and be able to understand the cause of every price movement, then it will always give you an edge to win over losses as you know already when is the best time to trade, and what coins will be most likely to be profitable in trading. Just stick to your plan and never be motivated with greed, i know you will attract good profits in the end.

This is the reason experience must be vital skill for any trader to have for being profitable in consistent manner.
Because you cannot turn experienced on the moment you decide about it but you need to be working hard and need to remain patience to gain knowledge and experience over the time. This is the reason even people are good in technical analysis facing losses due to lack of real-time experiences.

Getting used to market pressure will help anyone but at the same time you should focus on learning from your mistake and if you are not gaining any real time knowledge from your own experience (which happened due to your mistake) then staying with market for years may not make any differences.

I agree on you. It does not make sense even if you've been trading in the market for long and yet, you are still making the same mistakes again so most likely, you are still end up losing. Experience will always matter the most. It will help us enhance our trading skills by leaving us valuable lessons to learn and not to do the same mistakes again. And definitely, with our trading experiences, we get to understand more the market that will help us to improve more our trading strategies.

[Questat]

"Getting used to the market situation is the key to becoming a reliable trader. "
is that right? Or not?

What do you guys think?

 

It is getting right, but not all. What I mean is that we can make use of the situation to take advantage but this never means that we become a reliable trader, maybe it was just a good trader with a good strategy. We'll have the chance to become a good trader but that was too hard to become a reliable one. Ain't that easy...
As for what I know about reliable traders are knowingly more than usual traders and they can make adjustments very fast. That is likely we can expect more on the gaining side than losing dollars.

[AicecreaME]

Getting used to the market situation is not enough to get a successful trade, because "fake outs" always exist in charts, you thought it was going to dump, but it didn't. In order to make a profitable trade, a lot of things should be right, first is of course your technical analysis, that's your biggest money in trading. Second would be the stop loss and take profit, without it your greediness would take over and will take away all of your money in no time.

[Peanutswar]

Many people nowadays are seeing trading as just a basic thing like predicting the market trend and you will get a good profit with easy money and higher leverage but no as you are now deeply understanding how the market and the cryptocurrency works this might help you to lessen the possible risk to lose your money. Lossing assets are part of it but of course, analysing the mistake lessens the risk. Ride the market when there's a proper signal skip when your doubt.

[South Park]

My first trade. I'm not very familiar with the (crypto) market situation where it turns out that prices always go down and up quickly.
Because of that I became a person who easily panicked.

When I bought at a high price and the price after I bought it turned out to be down drastically.
Because I didn't know the market situation and conditions, I panicked and was in a hurry to resell the coins I had bought at a high price. and in the end I lost.

But here after I know the market is bullish or bearish then I become calmer and don't panic easily.

This usually happens to beginners who are just getting into the world of cryptocurrency trading

This is why some people recommend demo accounts where you can practice your skills before you trade for real, now I know it is not the same thing as you do not get the same feelings of anxiety that you get when you are using real money, however demo accounts really help you to get accustomed to this market and its volatility, and this is important as a great deal of people that think they could get some profits in the market quickly find out this is not the case as they panic as soon as the market begins to go down a little bit.

[el kaka22]

Market conditions driven market pressure is not same for every trader but it is purely depending on your open positions; which is the reason many traders are claiming like that demo accounts many not serve the purpose of gaining control on our emotions and risk managements. So, just watching the fluctuations of bitcoin market may not help any trader to learn something useful for their future trading but when you trade yourself and when you work hard for profit making then you may find many life long useful lessons for sure.

Similarly when you trade more frequently then you will develop the habit of right decision making even under pressurizing moments. Timely decision making is more important for any trader because for active trading, timely action is more important than technical analysis. Getting used to market fluctuations must be always a key; no doubts on that.

[palle11]

Timely decision making is more important for any trader because for active trading, timely action is more important than technical analysis. Getting used to market fluctuations must be always a key; no doubts on that.

I ask a question based on this, can timely active trade override technical analysis ? No is my answer because technical analysis is a direction for trade to be made for an experienced trader. Again on that you can't get adequately used to the market fluctuations without  the technicalities of the market this is what is important. Taking note of the graphs, charts and indicators is important to check the fluctuations.

[BitcoinAccepted]

I ask a question based on this, can timely active trade override technical analysis ? No is my answer because technical analysis is a direction for trade to be made for an experienced trader. Again on that you can't get adequately used to the market fluctuations without  the technicalities of the market this is what is important. Taking note of the graphs, charts and indicators is important to check the fluctuations.

Well said, I completely agree with you. There is no doubt that being familiar and at ease with how the market works is an edge because such situations that may be encountered won’t be much of a drastic surprise that could disrupt everything. But, for timely action an decisions to be made, the technicalities of the market and thus the ability to analyze such next rise or fall is important. And so, getting used to market situations is important, but it is everything, and it does not end there to become a good and reliable trader.

[palle11]

Lossing assets are part of it but of course, analysing the mistake lessens the risk. Ride the market when there's a proper signal skip when your doubt.

Losses is actually part of it and doing analysis can reduce it, yes I like that response . It should give newbies the confidence that if they do real time research and study the market then profit will be higher than losses. Now the market is bear but it doesn't stop good traders to keep getting profit out from the bear because they do a real study and do research of the market.