Be comfortable with your strategy!

[LastKiss]

~snip

~snip~

Strategy should be same, buy low sell high and nothing more. You will make more profit but in longer time. For being a successful trader, one needs to have patience and not hurry. Without patience you will not be able to reach the  points to buy/sell.

There are a lot of people calling themselves to be experts in trading. But be cautious about such people's words. They are not to be trusted in most cases.

Yea many people don't have patience when it comes to money, it's really hard to implement patience in ourselves when we wait for another good price to sell. Also many scammers around us want our money so rather than find a stranger person it's better to build a community with your own friends and discuss crypto, strategy, etc. I saw a lot of news that some people hold their bitcoin for long term and now they're millionaires it's just our patience got tested.

[Peanutswar]

~~~

This is so true. There are some strategy that may not work for you. Thats why we keep on trying another strategies that make us profitable. And its good see that you already find the right strategy that fits for you.  There are some people easily give up and get disappointed whenever they get failed with the strategy they used. Instead of finding the right one,they choose to quit.

Yes, we all know that trading is not easy as what others think. It is not a get rich-quick scheme but if you put a lot of efforts and knowledge. You'll gonna be rich. The more you take a risk, the more you will become profitable.

We have a different trading strategy it depends on it how you will make a committed trade or position but still it's a good thing to learn other skill sets or strategies of other trades by that you can get an idea that can be used to execute to your trades, not all the things is we already know still we can get from the knowledge and experience of other trades so you have the choice to learn and adopt or just stick with your trading style. Recently I'm just using with the MACD indicators and then basic charting and someone teach me basic things needs to learn and now currently adopting these to my trade and it becomes more effective.

[jaberwock]

To feel comfortable working with the chosen strategy, you need to understand that you need to have enough experience in working with just such a strategy.

Totally agree, no way that you're comfortable with your strategy if you don't have any experience and you're way of approaching trading doesn't yield any success in your part which is a bad thing especially if you plan to be follow OP's advice regarding being comfortable, you would be relaxed for nothing.

It's the same as saying you're comfortable at losing if you stay on the same strategy that does not work well. Every beginner starts fresh and they have no experience whatsoever but they should at least read and learn the basics of crypto and crypto trading before they jump on the actual part and it will be better if they create their own strategy first and not by just grabbing every strategy that they saw on the web, that is for them to know how the thing works.

It's okay if they lose on their first few tries because they are a newbie anyway but they should try harder next time on how to improve their selves. That's the time they can operate with a different strategy.

[RealMalatesta]

To feel comfortable working with the chosen strategy, you need to understand that you need to have enough experience in working with just such a strategy.

Totally agree, no way that you're comfortable with your strategy if you don't have any experience and you're way of approaching trading doesn't yield any success in your part which is a bad thing especially if you plan to be follow OP's advice regarding being comfortable, you would be relaxed for nothing.

I would assume that it is more about learning a good one and not being really dubious about what you are doing. Imagine it this way, if you are doing a strategy but have no idea why you are using that one and you just use it, then you would be bad at it, you just heard it from someone and you keep doing it because of that.

However, if you get comfortable with it (means learning it like back of your hand) then you would be able to actually use it properly because you know each part and know what they mean. That's the type of trading that gets you profits because you are well aware of the strengths and shortcomings of your own strategy and you can change it based on the situation.

[shawon01]

The main thing in the setting that I have to do while learning is that the coin thing was shown one of the things that was shown here.  So stick to it, consider whether you are using another one and try to do it perfectly.

[TheUltraElite]

Yea many people don't have patience when it comes to money, it's really hard to implement patience in ourselves when we wait for another good price to sell.

Patience is required in both sides. But the lack of patience in most traders is good for the rest of the traders. They will keep on profiting while the impatient group keeps losing money.

Also many scammers around us want our money so rather than find a stranger person it's better to build a community with your own friends and discuss crypto, strategy, etc. I saw a lot of news that some people hold their bitcoin for long term and now they're millionaires it's just our patience got tested.

Discussion is fine as long as it does not trickle down one trader's misgivings into the group because often one person of a group will have lost money and they will crib about it bringing down the morale of the rest of the traders. Being a solo trader is best in my opinion, but yours might vary.

Scammers exist in different forms. How one can fool another to get their money is a different topic of discussion. Again influencers and shills are the current level of people who should be avoided at all costs.

[Lordhermes]

Every trader is suppose to have a strategy he uses to ensure he makes profit.A man with a strategy is a man that can make profit and earn money. I know strategy is supposed to be dynamic,that is to say it is supposed to change with time, but having a particular strategy that works for you always in trading is one that you should stig to.
Even if you will later apply or try other strategies,that one that always works for you should not be traded for the one you've not known whether it will work or not.

[CapGelatik]

Actually i've been looking for an accurate strategy when i was new in trading and i want to apply all of it because of mindset that i can make good results on that way.

but unfortunately i always ended losses after all my efforts.

So i realized maybe not all strategy is suitable for us., i mean we need to choose which one startegy is more effective and forget the rest.

I tried scalping but failed , and also reversal, and break out but failed again.  

wherein only flag pattern and wedge give me a sign that i can make good results in trading..

So decided to focus in it and take screenshot always after winning to remember the same pattern ..

Until now i don't place trade if there's no flag pattern or wedge pattern..and you know guys most of my results are very very nice.

So guys must choose a good strategy for you as well if you really want to become comfortable in trading and also don't force your self with a strategy that cannot even give you good results.

Stop assuming that having a lot strategy can give you a lot of money  as well because that's not true!!

In the case of trading, one should never trade by guessing. To date, those who trade with speculation have not been able to get good results.So in order to trade you need to do adequate analysis and come up with a strategy so that you can make some profit by trading.

Relying on speculation alone will only get us in big trouble in trading,
however it is not recommended and it is true that doing analysis is very important in trading and if you can't, we need to learn,
obviously speculating it won't help at all so it's better to avoid it

[kamilah147]

All strategies have drawbacks, of course what we hope for is success in these strategies. assuming for me is something I should avoid, every decision in trading has been analyzed and compared to previous market conditions. meaning all must be researched, because if only assume this will result in losses.

[darewaller]

Discussion is fine as long as it does not trickle down one trader's misgivings into the group because often one person of a group will have lost money and they will crib about it bringing down the morale of the rest of the traders. Being a solo trader is best in my opinion, but yours might vary.

Scammers exist in different forms. How one can fool another to get their money is a different topic of discussion. Again influencers and shills are the current level of people who should be avoided at all costs.

I do agree that being solo is definitely better, unless you are VERY wealthy. With solo trading you are not really causing anyone to lose money while you are profiting or nobody else is causing you to lose money while they are profiting. I like to trade coins or tokens that I know that has a future, so I try to catch them before a good news happens.

Just recently I bought Floki right before the Aston Martin advertisement deal, and it went up nearly x2 (like 80%) and I sold it. That is a good way of trading, doesn't need to be based on any data if you know what is about to happen. Of course it is hard to follow hundreds of coins and know news about them all the time, but it is not impossible.

[Pamadar]

Discussion is fine as long as it does not trickle down one trader's misgivings into the group because often one person of a group will have lost money and they will crib about it bringing down the morale of the rest of the traders. Being a solo trader is best in my opinion, but yours might vary.

Scammers exist in different forms. How one can fool another to get their money is a different topic of discussion. Again influencers and shills are the current level of people who should be avoided at all costs.

I do agree that being solo is definitely better, unless you are VERY wealthy. With solo trading you are not really causing anyone to lose money while you are profiting or nobody else is causing you to lose money while they are profiting. I like to trade coins or tokens that I know that has a future, so I try to catch them before a good news happens.

Just recently I bought Floki right before the Aston Martin advertisement deal, and it went up nearly x2 (like 80%) and I sold it. That is a good way of trading, doesn't need to be based on any data if you know what is about to happen. Of course it is hard to follow hundreds of coins and know news about them all the time, but it is not impossible.

If you fully understand how the market is moving, the kind of strategy will work and fit on you,

What i mean is like how you deal with your trade, you anticipated the good market movement before that Martin's deal
and yes, you made a good profit.

No one tells you but you do it with your own knowledge, better than following anyone, and be disappointed when things went to
the other side and you lose your investment.

[gabbie2010]

When I do make a trade I always have my cheat sheet which consists of a lot of information related to the candlesticks and the market graph I always do this to make sure that my trade becomes successful of course always step a Stop loss and take profit to make sure still always to the plan. Don't envy your strategy always stick to your strategy also learn from your mistakes and other people.

You have a great strategy out there, once you used to candlestick you wont need your cheat sheet again because any information relate to candlesticks is already inside your brain. Many people start with different strategies but when their strategy is useless they feel ashamed about their strategy and in the end the following people succeed in trading and hope for a great outcome but end up badly.

I also agreed with the idea of having a cheat sheet which I call my personal journal where all candlestick patterns previously formed is being noted and recorded, based on my own research I believe that those candlestick patterns repeat itself, "price history repeats itself" that is exactly the foundation of my trading strategy, I used higher timeframe for analysis and revert to 5 minutes timeframe for entry while utilizing the power of trendlines to enter a trade after a breakout of the price, which is an indication of increase in volatility of price, while I had always stick with my strategy with some little modifications.

[Desscount]

All strategies have drawbacks, of course what we hope for is success in these strategies. assuming for me is something I should avoid, every decision in trading has been analyzed and compared to previous market conditions. meaning all must be researched, because if only assume this will result in losses.

Just assuming the same as speculating and in my opinion is not recommended in trading if you don't want to lose,
that's why analysis in trading has an important role and thus at least minimizes risk,
in trading we need to have the skills and knowledge to support it

[Ziskinberg]

snip~

You have a great strategy out there, once you used to candlestick you wont need your cheat sheet again because any information relate to candlesticks is already inside your brain. Many people start with different strategies but when their strategy is useless they feel ashamed about their strategy and in the end the following people succeed in trading and hope for a great outcome but end up badly.

I also agreed with the idea of having a cheat sheet which I call my personal journal where all candlestick patterns previously formed is being noted and recorded, based on my own research I believe that those candlestick patterns repeat itself, "price history repeats itself" that is exactly the foundation of my trading strategy, I used higher timeframe for analysis and revert to 5 minutes timeframe for entry while utilizing the power of trendlines to enter a trade after a breakout of the price, which is an indication of increase in volatility of price, while I had always stick with my strategy with some little modifications.

That's right. It is very important that we know what strategies work for us as for sure that not all strategies apply to everyone. We do some modifications and sometimes we need to find another, keeping ourselves doing searches helps us to gain more ideas. Because in trading, we need not feel it was so easy, it is a time consuming honestly but it was worth it, we got paid off later.
And using trading indicators is much helpful to us but we need to study the market so well.

[rby]

I call learning by doing because it really helps us find strategies that work for us. We can try other people's strategies but keep in mind that they won't necessarily work if we use them right away, and maybe we'll have to figure out how to modify them so that they work for us. It will take a lot of experiments to find one that works for us, but it's something worth trying until we find one.

I discovet that we over labour ourselves with strategies but there is not perfect strategy. I can also say that there are no new strategies. All the strategies are related if not one. The strategy you think that is yours is another person's own seen in a different way or style.
Since the strategies are numerous it is good for one to study a working one and be using it and then continue to learn the other styles of the dynamic strategies. A strategy that works today might not work topic.

[Pamadar]

It is a must. Everyone should have to think about that and aim for a strategy that really effective. Besides, making a good profit is somewhat because our strategies work so well. Making our own strategy(ies) helps us to achieve our goal and it was very satisfying. Being comfortable with our strategy(ies) makes us even more confident that we will succeed.
The good thing about having our own is simply we don't rely on others and this proves that we go far without the help of other people, like standing with our own feet.

The chance is better if you are comfortable with the strategy that you are using.

It's worth to note that you are using your hard earn money and by that you should collect all the information and
combine that by creating your own strategy and trust the process.

Indeed, having your own strategy gives you a good overview of the possibilities to happen along the way, with that
you have all the reason to hold or to sell out.

[FanEagle]

All strategies have drawbacks, of course what we hope for is success in these strategies. assuming for me is something I should avoid, every decision in trading has been analyzed and compared to previous market conditions. meaning all must be researched, because if only assume this will result in losses.

Just assuming the same as speculating and in my opinion is not recommended in trading if you don't want to lose,
that's why analysis in trading has an important role and thus at least minimizes risk,
in trading we need to have the skills and knowledge to support it

Speculating yourself has absolutely no play in it because what you think doesn't really matter since you are just one person. However, speculators do matter, if you see too many people trying to say bitcoin will drop, there is a good chance it could drop and I get that or vice versa when everyone is saying that the price would go up, and then there is a chance it could go up as well.

Right now, we are living in a period where it may not go up, or it may not go down and it would just be what it is and we have to accept it. So, if data is the only thing you are basing your trading on, then I would suggest checking what people are saying as well.

[Renampun]

It is a must. Everyone should have to think about that and aim for a strategy that really effective. Besides, making a good profit is somewhat because our strategies work so well. Making our own strategy(ies) helps us to achieve our goal and it was very satisfying. Being comfortable with our strategy(ies) makes us even more confident that we will succeed.
The good thing about having our own is simply we don't rely on others and this proves that we go far without the help of other people, like standing with our own feet.

all traders must be ready and comfortable with the decisions they make...

Indeed, being able to make your own decisions is not easy, especially when trading, but slowly if you practice this ability, it will appear by itself, it is always not good to continue to depend on other people's decisions.

[LUCKMCFLY]

Currently the market as it is, there are many movements that I have not understood, other movements that yes, but according to what is happening in the world, my logic tells me that the price of both BTC and altcoins can continue to fall, this due to panic and panic is one of the most common emotions that can affect the market, this causes in most times to drop in price, the fact of having an active war generates it, but on the other hand, when there are so many economic difficulties New horizons are opening up to use the crypto market much more, which I think will be fundamental for now, so this emergence and this new possible entry of demand into the market can make the crypto markets rise again.

[TheUltraElite]

Indeed, being able to make your own decisions is not easy, especially when trading, but slowly if you practice this ability, it will appear by itself, it is always not good to continue to depend on other people's decisions.

You should never take other people's decisions to be your own. This is a speculative market where one person's loss is another person's gain. Especially the influencers who try to manipulate people, be careful of those. Free or paid sources of signals and all, avoid them all.

Taking decisions is not that difficult, it needs a bit of practice on demo trading papers and then following these up over time.

Every decision will not be correct, you have to understand keep that in mind. While wrong decisions will happen, use them as a learning opportunity.