Journey of a successful trader

[kamilah147]

some of what you mentioned may be the first part of successful trading, I will add another one which is trade management. for me this is also a very important thing in trading, because we will not know future market conditions so it is very important to apply management to manage finances well when trading.

[ScamViruS]

some of what you mentioned may be the first part of successful trading, I will add another one which is trade management. for me this is also a very important thing in trading, because we will not know future market conditions so it is very important to apply management to manage finances well when trading.

Money management is very important for a successful trader. In order to make a proper trade, money management has to be followed to minimize losses from any sudden change in the market. Because most traders do not follow money management, expect big profits without any proper plan. And because of their misconceptions, a profitable trade may be forced to close at a loss due to a sudden change in the market. So managing money in the right way can protect your capital from such unexpected mistakes.

[perfect999]

Money management is very important for a successful trader. In order to make a proper trade, money management has to be followed to minimize losses from any sudden change in the market. Because most traders do not follow money management, expect big profits without any proper plan. And because of their misconceptions, a profitable trade may be forced to close at a loss due to a sudden change in the market. So managing money in the right way can protect your capital from such unexpected mistakes.

There are some tools that can as well be helpful for anyone who wants to be able to manage their resources while trading. Tools like stop-loss can really be helpful and I’m surprised that there are so many traders who do say that they don’t make use of stop-loss. Maybe they are good enough, but for someone who is a newbie trader, it would be advisable for them to make use of such tools to be able to reduce the amount of loss that they will encounter while trading.

Since they are still new to it, there is the possibility that they may encounter losses on so many occasions while trading. so it is very important that they make use of such a tool to be able to curtail their losses.

[tbterryboy]

Most of the new traders these days always see the need to make profit as a priority. The reason why they are hardly successful is because they have no clue about trading in the market and they are just focused on the profit that they will make. Most of them just ask about how much that they can make from the market and they really don’t ask about how they will be able to trade and make that profit.

Things are going to change for most of this traders if they start to change their mindset and get to know that the most important thing is to focus on learning cryptocurrency trading instead of talking about profit. You cannot make profit when you don’t know what you are doing, you are just gambling and when you see this as a gambling it wouldn’t work.

[Finestream]

Most traders don't really understand the basics of trading, and most newbies invest blindly through other people's trading and investment experience.
In order to make a successful investment, you must experience painful losses, and you must analyze and gain some experience in trading investment failures to become a successful trader.

Well, Its true that if a trader experience losses, thats how he can better understand how trading works and what to do in order to not repeat the same mistakes again. It is advisable to take time to learn the basics and try the demo trading, it can help to minimize the chances to lose your capital. Anyway the steps of op are informative for newbies, if they can follow it then its likely for them to succeed as a trader. Because if you have knowledge on what you do thats your key to be on the right track.

A successful trader has surely gained painful losses at first that motivated him to learn more and grow. And with a lot of trading experiences, that honed him to enhance his skill and master his own strategies.  And by following the steps given by OP, those things will certainly create an edge to traders to make more successful trades than losses. However, its not only the steps that makes a successful trader. A trader should always have discipline, patience, and a positive mindset that will make him more a successful trader.

[retreat]

some of what you mentioned may be the first part of successful trading, I will add another one which is trade management. for me this is also a very important thing in trading, because we will not know future market conditions so it is very important to apply management to manage finances well when trading.

Financial management is an ability that should not be lost when trading, without that ability a trader will be very difficult to know the expenses and also the income/profit each time trading. don't ever be trivial when trading, try to make as few mistakes as possible.

[Japinat]

Don't you forget your psychological behavior towards trading as it was more crucial than anything else. You may have a perfect system, a trading plan, etc. but if your resolve towards this journey isn't firm then consider it as a failure in the very beginning. Maybe you can put that on the list.

That should always be the first on the list. Because even how motivated you are to do successful trades, but your attitude is showing the opposite way, you will never reach your goal. So its very important that aside from having good skills and strategies to trade, there should also be right attitude towards trading. If you fail it, expect that you will still commit losses more often.

[Natalim]

Most of the new traders these days always see the need to make profit as a priority. The reason why they are hardly successful is because they have no clue about trading in the market and they are just focused on the profit that they will make. Most of them just ask about how much that they can make from the market and they really don’t ask about how they will be able to trade and make that profit.

Definitely, not. They are supposed to focus on learning and a part of this is by using journals to track our trades which means that we are aware of what happens to us, particularly. Having this tool is makes it easier for us where to start or it is a need for us to stop trading based on the record we did. If in their mind is just all about earning profit and having no time to learn, that absolutely they will never get what they wanted, it was just only an ambitious attempt which is somehow far from happening.

[sayaya17]

Don't you forget your psychological behavior towards trading as it was more crucial than anything else. You may have a perfect system, a trading plan, etc. but if your resolve towards this journey isn't firm then consider it as a failure in the very beginning. Maybe you can put that on the list.

That should always be the first on the list. Because even how motivated you are to do successful trades, but your attitude is showing the opposite way, you will never reach your goal. So its very important that aside from having good skills and strategies to trade, there should also be right attitude towards trading. If you fail it, expect that you will still commit losses more often.

Successful traders are synonymous with large profits, indeed this is not wrong. But many people understand it the wrong way, because successful
traders are not obsessed with big profits. They are more focused on sustainable profits, and to be able to generate profits on a regular basis is not
an easy thing. The main key is how we control our attitude when trading, without a good attitude, will be a failed trader despite having a good
trading strategy. Because a good attitude when trading can control our emotions, to avoid greed and can help make the right decisions. That's why
we find people with good strategies, but often lose the profit that has been obtained, because his attitude is very bad. He was obsessed with making
even bigger profits and eventually made him over-trade. In the end, they suffered huge losses and made the profits they had previously lost.
So try to keep our attitude well, if we want to be a successful trader.

[Quidat]

Most of the new traders these days always see the need to make profit as a priority. The reason why they are hardly successful is because they have no clue about trading in the market and they are just focused on the profit that they will make. Most of them just ask about how much that they can make from the market and they really don’t ask about how they will be able to trade and make that profit.

Definitely, not. They are supposed to focus on learning and a part of this is by using journals to track our trades which means that we are aware of what happens to us, particularly. Having this tool is makes it easier for us where to start or it is a need for us to stop trading based on the record we did. If in their mind is just all about earning profit and having no time to learn, that absolutely they will never get what they wanted, it was just only an ambitious attempt which is somehow far from happening.

Some do easily moved on and realize their mistakes on point and doesnt really need to look back on what they had done in the past and some do easily forgets
and does really like to have some tally or notes on regarding with their past trades.Doesnt matter on which where you do belong as long you do benefit it out
then that what surely counts and of course dont expect that everything would turn out to be easy.

[AicecreaME]

Don't you forget your psychological behavior towards trading as it was more crucial than anything else. You may have a perfect system, a trading plan, etc. but if your resolve towards this journey isn't firm then consider it as a failure in the very beginning. Maybe you can put that on the list.

That should always be the first on the list. Because even how motivated you are to do successful trades, but your attitude is showing the opposite way, you will never reach your goal. So its very important that aside from having good skills and strategies to trade, there should also be right attitude towards trading. If you fail it, expect that you will still commit losses more often.

Yes, I agree.

Emotional management is very important, because that controls the rest of your decision making and other important factors to achieve a healthy trading lifestyle. Without it, the rest of your plan will just crumble on your hand along with your funds, so it is important to pay attention on everything on yourself before making a trade or doing a trading.

[Distinctin]

IMHO, a holder is also a trader.

And with those strategies that you've mentioned, they're good if they're effective to you. But to say that there's only a certain number to become a successful trader.

It differs and varies to each trader.

Everyone can experience dynamic strategies that are not on that list or even fewer based on how they see themselves effective with the strategies that they've come up with.

Successful traders have their own ways to take advantage of the market and be profitable, even without following those strategies you've mentioned above OP. Because as long as you are making consistency in making profits regardless of how you do it, i guess you're good as a successful trader. However, relying from those strategies can still give us higher chances to be profitable, but it does not mean too that simply not following them will result into losses. Successful trading does not only depend on winning strategies, sometimes its already build in us that we just have to develop them along with the right attitude towards trading.

[TheGreatPython]

Don't you forget your psychological behavior towards trading as it was more crucial than anything else. You may have a perfect system, a trading plan, etc. but if your resolve towards this journey isn't firm then consider it as a failure in the very beginning. Maybe you can put that on the list.

That should always be the first on the list. Because even how motivated you are to do successful trades, but your attitude is showing the opposite way, you will never reach your goal. So its very important that aside from having good skills and strategies to trade, there should also be right attitude towards trading. If you fail it, expect that you will still commit losses more often.

Having the right attitude is very important for a trader. It is your right attitude that will help you to achieve what you really want to achieve. You have to know that it takes patience and with that patience and consistency you would be able to achieve everything that you have ever wished to achieve.

Lots of professional traders that we have today didn’t just start up and become professionals immediately. It took a lot of work for them and they have to work really hard and be consistent despite the failures that they met on the way, they still continued until they reached the level that they are right now. So, everyone is expected to do the same.

[Rockstarguy]

Learning is the most important thing for every trader to be successful, We get familiar with trading by learning. The problem many trader are having in trading is because they lack patience to learn, for one to earn in trading it is very important that learning must take place. Trading strategies changes with time and its with learning it can benefits anyone.

[Hypnosis00]

Learning is the most important thing for every trader to be successful, We get familiar with trading by learning. The problem many trader are having in trading is because they lack patience to learn, for one to earn in trading it is very important that learning must take place. Trading strategies changes with time and its with learning it can benefits anyone.

It is everyone's goal to succeed but unfortunately, not all are wanted to learn and even sacrifice their time on the market. The lack of patience and motivation helps nothing for us but instead, this will brings us to a losing end.

Correcting mistakes is a part of learning, people had changed their strategies as often as possible depending on the market situation which I believe was a good technique. And it is very important to become more aggressive upon learning as this will boost us to learn more rather than just stay low.

[wiss19]

A lot of newbie traders need to see this. Most of them would ignore the process that they are meant to go through to be professional traders and they would just want to start making lots of money immediately from trading when they have not even gone through half of the process that is required for them to be that good.

Trading should be something you make out your time to learn and after you have learnt it very well, you then have to put in much effort in practicing what you have learnt and be consistent with it. Having a really good strategy that works is very important.

[monineklutak]

Learning is the most important thing for every trader to be successful, We get familiar with trading by learning. The problem many trader are having in trading is because they lack patience to learn, for one to earn in trading it is very important that learning must take place. Trading strategies changes with time and its with learning it can benefits anyone.

I also learned my mistakes when trading, I have experienced losses up to 90% and it made me frustrated and depressed,
just imagine the $1000 lost playing futures trading, and since then, I have never traded in futures, and prefer to trade in spot market,
over time I am grateful because my $1000 is back in the spot market as a result of hard work in the spot market.

[Webetcoins]

Often a trader fails in trading because becoming a trader is not that easy and requires skill and experience. The good information, from the many things that you have written here the point, is that we must be aware of our abilities whether it is in terms of knowledge, skills or strategies, so indeed we must be able to do it as much as possible. Becoming a successful trader also requires a process and effort to continue learning and learning, one of which is upgrading the strategy you have because the strategy that we have can change according to market conditions. that's why to become a trader needs qualified skills and sufficient knowledge

Doesn't that hold true for almost everything in life? If you jump into something without any prior knowledge and experience, you will most likely have a bad experience with it. That experience though helps you make better decisions in future.

I love the points mentioned in OP and the best one is 'Demo Testing' because people often forget that knowing things doesn't mean success always. Knowing means you have now earned the ability to do something but you must test it. Once you test your strategies, you will find out some problems and once you have fixed them within the demo itself, you're good to go for real trading.