Cleo.finance: How to improve your trading results?

[Hypnosis00]

Good advice you got there OP.

I will just add this opinion of mine, I believe continuous learning by trial and error is also a good thing to improve anyone trading's skill. It's because they have to find the right technique and indicators for them, we all have different approach in trading and finding that will cost a lot but worth the risk. Trading is a very long term investment, especially on your skills, doubting yourself won't do any good so you have to trust the process.

It's tiring but you just have to rest if you really want to pursue the trading career, don't stop and keep on grinding.

Trading is not an easy job, and it must be clear to our minds. Yes, you're absolutely right, learning trading can't be done so easily as learning is a continuous activity. And what we can do to improve the result of our trading to going better and more profitable is simply don't give up easily and never be distracted by the losses and negativity we heard around. Keep on focus and aim our mind to the goal we set because the more we think about the outside world of trading, the more possibility we got out of focus and make the wrong decisions.

[1715344815]

1715344815

[serjent05]

How about going on the old and traditional way of writing down your trading?

Keeping records is a good thing but isn't the exchanges have the trades recorded?  I think it would be a waste of effort and time to write all those trades down, but I think it can help in analyzing your trade performance and keeping in check whether you are doing the right thing or not.

So that at least you can go back and see how everything went wrong, regardless of you winning or losing? And then adjust your strategy as you go along? I'm no longer very active in trading, but years ago when I was starting in this journey I used to do this simply strategy. I know it might cost sometime but at least you can still go back and look at your own personal logs and see what you really do during your active trading days.

True! It is really one of the best strategies for successful trading.  Nothing beats reflecting and analysing trades to know the reason behind successful trading and why the trading strategy failed.

A trading diary is an old-school technique but it is one that is still very effective, people need to know that our memories are not perfect and as time passes we are going to forget the exact reasons about why we did what we did, but if we keep detailed records not only of the trades we made but also of the thinking process that lead us in that direction then it would be easier to correct our mistakes and improve our abilities as traders, however many people prefer to not do something like this as they see trading diaries as taking too much effort, especially if they are day traders.

I do not see any reason for having a trading diary. As for me it is highly not necessary. The mistakes in trading can not be beyond not having good strategies and also using high leverage and not using indicators appropriately. As trading goes on, you will know all these without having a dairy for it.

It is important to keep records of our trading experiences.  Having records can remind us of our success and the strategy we use or our failure and the reason of that failure.  A person's mind may be unlimited but the capacity to remember things is limited.  Keeping records helps us to remember stuff and learned from it.  It is also an effective way of passing knowledge, books will never exist if no one ever records their experience and found knowledge.  Without diaries or books that record the previous event, a man may have difficulty advancing his knowledge.  The same applies to trading experience and knowledge.

[Oshosondy]

Keeping records is a good thing but isn't the exchanges have the trades recorded?  I think it would be a waste of effort and time to write all those trades down, but I think it can help in analyzing your trade performance and keeping in check whether you are doing the right thing or not.

All the trades are recorded on the exchange, you can even check your PnL in day, week, month or year and check the stat.

True! It is really one of the best strategies for successful trading.  Nothing beats reflecting and analysing trades to know the reason behind successful trading and why the trading strategy failed.

Do you have to write down that you leverage 10x and your trading asset got liquidated very fast. Do you have to write down that you start a leverage with 5x and use martin gale strategy to leverage it to 50x to bring entry price closer to mark price, but in the process, brought the liquidation price closer and the trade is in opposite direction and trading asset got liquidated. Do you have to write down that you gambled as a newbie trader and not use indicators but result to many losses? All these are not necessary. Without writing them down, your experience would help if you discipline yourself.

It is important to keep records of our trading experiences.

Actually some people are not actually trading but just want to post, but you do not sound like one of them, I can see that you are one of the people that trade and practically know what is happening. Let me ask you this question and I will appreciate an honest answer. Are you writing them down?

As for me, I don't and my experience grows in all mistakes I made in the past.

[kapalmabur]

• Set your take profit, and stop loss along with the right position sizing. Have a clear plan for what you want to achieve. (To learn how to set up your stop losses and effective position sizing, you can find it here.)

This! For me, this is very important when you are doing trading and you want a good result.
You must train yourself to stick with your plans and can control your emotion. Good risk management, will help you to manage your funds, and manage your profits, losses, and capital.
Capital preservation is the most important because there are a lot of good trade entries in the future, and that's why we should protect our capital at all costs.

That's why we need to have skills in risk management and that's very important,
when trading want to get good results of course it takes a lot of things,
because after all trading is very complex and we must be aware of it

[Mr.right85]

I would have said different trader different methods as much as that would be true, you've got to have a record to direct your trading. Define your entry and exit points. I'd ont mean books like, some text to teach you how to trade or manage risks and that and that.
I mean like a diary where you get to keep written records on your approaches and operations of the market. Yeah, it's truly for that day but the signs that made you pick a trade never really changes. They are the se things you sort out for to determine an entry and exit with each correct analysis straightening your decision making, ensuring you never did gamble and you stick with the plan.

[Zilon]

I will say build with small and only increase the size when the confidence level has increased sometimes increasing slowly without mastering a start up size can trigger some greed factor. Perfecting the initial size of a trade helps boast confidence in handling something bigger.

Learning never ends in trading. No one can boast of understanding clearly all the market moves. What is clear to  A might be a mystery to B. And what A sees in a second B might have to apply so much analysis to find the trading point. Learning boasts a traders confidence and decisions  

[nurilham]

I will just add this opinion of mine, I believe continuous learning by trial and error is also a good thing to improve anyone trading's skill. It's because they have to find the right technique and indicators for them, we all have different approach in trading and finding that will cost a lot but worth the risk. Trading is a very long term investment, especially on your skills, doubting yourself won't do any good so you have to trust the process.

I think learning by trial-error is only good for beginners. It should be done at the beginning of our trading journey. Don't use the same method forever, we should have another way. How if we learn from others' experiences? We can read any articles or read from any posts in this forum regarding what skills we want to know. By learning others' experiences with the skills, we can use the strategy properly. So, we don't need to do trial-error anymore.

[TimeTeller]

I will just add this opinion of mine, I believe continuous learning by trial and error is also a good thing to improve anyone trading's skill. It's because they have to find the right technique and indicators for them, we all have different approach in trading and finding that will cost a lot but worth the risk. Trading is a very long term investment, especially on your skills, doubting yourself won't do any good so you have to trust the process.

I think learning by trial-error is only good for beginners. It should be done at the beginning of our trading journey. Don't use the same method forever, we should have another way. How if we learn from others' experiences? We can read any articles or read from any posts in this forum regarding what skills we want to know. By learning others' experiences with the skills, we can use the strategy properly. So, we don't need to do trial-error anymore.

For me, it is learning more about the coin you want to trade with.
The more you know about the coin, their plans, their actual progress, hints from their social media channels,
the better for you to understand their market trend. Definitely, if there is uptick in the market, something is going on with their developments.
Those trading skills will be useless if you have no idea what you are getting into. So better familiarize yourself with the coin before jumping into its market.

[Hamphser]

I will just add this opinion of mine, I believe continuous learning by trial and error is also a good thing to improve anyone trading's skill. It's because they have to find the right technique and indicators for them, we all have different approach in trading and finding that will cost a lot but worth the risk. Trading is a very long term investment, especially on your skills, doubting yourself won't do any good so you have to trust the process.

I think learning by trial-error is only good for beginners. It should be done at the beginning of our trading journey. Don't use the same method forever, we should have another way. How if we learn from others' experiences? We can read any articles or read from any posts in this forum regarding what skills we want to know. By learning others' experiences with the skills, we can use the strategy properly. So, we don't need to do trial-error anymore.

For me, it is learning more about the coin you want to trade with.
The more you know about the coin, their plans, their actual progress, hints from their social media channels,
the better for you to understand their market trend. Definitely, if there is uptick in the market, something is going on with their developments.
Those trading skills will be useless if you have no idea what you are getting into. So better familiarize yourself with the coin before jumping into its market.

Making yourself do get familiar when it comes to the project and its movement but it wont really be on a precise manner since price is always been that tough to speculate or mind on where it would be going.

Specially on a market trend where price could go in one direction at the same time which means that you should really make yourself that wise on taking up decisions whether you should sell or buy.

Improving your trading results? Just trade and trade until you do learn sufficient experience which could really help you on withstanding this unpredictable and random market.
It might not be assured that you do ending up on positive but at least the main target of yours is on how to sustain.

[agustina2]

Create your trading plan, work on it and stick to your plan - Achieving consistency and discipline

You can't achieve consistency in just a single plan. We will achieve it if we will able to make our own strategies that we can use in different scenarios.

While also sticking to those strategies of ours, we can modify some parts of the plan if there's something that needs to change.

We should also be strongly dedicated if we are really eyeing to improve our trading results.

[gabbie2010]

Create your trading plan, work on it and stick to your plan - Achieving consistency and discipline

You can't achieve consistency in just a single plan. We will achieve it if we will able to make our own strategies that we can use in different scenarios.

While also sticking to those strategies of ours, we can modify some parts of the plan if there's something that needs to change.

We should also be strongly dedicated if we are really eyeing to improve our trading results.

In addition we should avoid changing trading plan
every now and then, we just needed to modify it if necessary, I have seen cases of consistent changing of trading plan and strategy lead to incurring streaks of losses, personally I sticked to my own personal trading plan in case of any trading loss or losses I usually scan to through possibly to know if there is any mistakes and make necessary amendment to prevent future mistakes or probably the market defies my plan and move in other opposite direction which is inevitable in trading of so I move on to the next trading opportunity.

[justdimin]

Making a plan is easy, but it’s hard to execute and go on that plan. I appreciate your efforts OP that you have made in the post, but to be honest it goods best in theoretically only. When you trade with real money, in each and every trade you deal with extreme caution and vulnerability. The only way one can improve his trading is the risk management and experience. If a trader knows how much risk he should put in a risk, then definitely he will have better results and better profits.

Executing is easy but to stick on the plan is the real one that is hard to do and this is why many of us are still not successful because we lack of consistency. Along with that is we are also building an experience.

Experience matters a lot in many things not just in trading but having a good experience in trading helps you familiarize with the market and to the complicated terms, so you will now take things easily but not totally to the point that you will now trade big amounts. Of course money or risk management must still be there. This is also the failure of many traders especially those who are still a newbie in here, they tend to risk big immediately thinking they can earn big fast that way.

[EarnOnVictor]

All that the OP wrote is good but could have been combined as many of them could be summarized into a quality trading plan. That said, the basic thing needed by any trader is to make sure that he learns everything possible, not systematically because what you think is irrelevant in trading might later be what would help you. It is through learning that traders would know the true ethics of trading, and natural wisdom will help in blending what they learned together for productivity in trading.

[monineklutak]

I will just add this opinion of mine, I believe continuous learning by trial and error is also a good thing to improve anyone trading's skill. It's because they have to find the right technique and indicators for them, we all have different approach in trading and finding that will cost a lot but worth the risk. Trading is a very long term investment, especially on your skills, doubting yourself won't do any good so you have to trust the process.

I think learning by trial-error is only good for beginners. It should be done at the beginning of our trading journey. Don't use the same method forever, we should have another way. How if we learn from others' experiences? We can read any articles or read from any posts in this forum regarding what skills we want to know. By learning others' experiences with the skills, we can use the strategy properly. So, we don't need to do trial-error anymore.

By learning the experiences of others I think it's more than enough,
especially with all the ease of information that we can get at this time of course that is no longer an excuse,
doing trial-error will only be a waste of time and it's a pity

[traderethereum]

And once traders learn a lot about trading, they need to practice it on the exchange so that it can provide them with useful experience and can improve their analytical skills.
And that's why the methods used by each trader will be different because they learn from different sources to achieve their respective goals.
But what they learn will give a good result in the future if they can use it well in trading and if they learn more and practice it, it can give them an opportunity to be better at trading.
Never be satisfied with the lessons we learn because the reality is that market conditions are always changing, making us continuously learn more to adapt to market situations.

[jrrsparkles]

Some good piece of advices and actually these all are basic knowledge we can acquire from our trading experience but the only problem will be finding the right trading strategy where most people commit mistakes they simply follow what is written on the book or explained by someone or in any form the came to know and applying it without analysing the current condition.

[palle11]

Some good piece of advices and actually these all are basic knowledge we can acquire from our trading experience but the only problem will be finding the right trading strategy where most people commit mistakes they simply follow what is written on the book or explained by someone or in any form the came to know and applying it without analysing the current condition.

Sometimes trading becomes very difficult when you trade against the trend. This is the time that no strategy works and the emotion take the greater part of the trader. At this time you are neither hear or there trying to have a grasp of what is happening. To stay away this time is a nice trading pattern itself or to reduce your risk taking until the market begins to go your direction, to chase the market is not the right thing to do.

[tvplus006]

..It might help other traders and might add some value to the community here:..

You have listed the recommendations correctly, now the most difficult thing remains to follow them flawlessly. After all, at the initial stage of trading, there is a great desire to violate such recommendations, which ultimately leads to the loss of their money.

[KingsDen]

Some good piece of advices and actually these all are basic knowledge we can acquire from our trading experience but the only problem will be finding the right trading strategy where most people commit mistakes they simply follow what is written on the book or explained by someone or in any form the came to know and applying it without analysing the current condition.

There is one thing about trading strategies. These strategies change from time to time according to the market conditions. The strategy in trading is not a constant that is why the strategy that worked for Mr A might not work for Mr B. It is also why the trading instructors make more money teaching people how to trade than trading itself.

When they study and master one or two working strategies, they past is down to their students who stick to them even if they have expired or they needed to make some changes. That is why I did not so much believe in acquiring trading strategies rather I believe more in learning the basics. Strategies might change but basics remains the basic.

[BitcoinPanther]

Never fail to analyze your trading results and record the data.  Analyzing the trading result will enable us to internalize our strategy.  We will be able to see the flaws, and device a solution to that flaws in order to perform better in the future trades.  It will also help us to device an improved strategy to have an even better result.  Never stop learning so that we can be ahead of the trading competition.