DudeAtWork420
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October 29, 2022, 08:34:57 PM |
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The only and most effective way to do that is not doing the same mistake again and again. To get rid of repetitive mistakes professional traders do keep a notebook or spreadsheet where they track down all of their trade records with the conclusion of the results. If you do that you can quickly rethink any already faced situation. Mistakes are normal but not making any progress by using them is laziness.
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Bhig Daddy
Member
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October 29, 2022, 08:50:31 PM |
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When you don't follow through with your plan, the market has a way of punishing you. If you stray from a winning strategy, you run the risk of losing, especially if the original strategy was winning. Most of the time, you don't recognize this as the cause of your failure or fail to recognize your deviation. I've encountered this enough times to see that it's a serious problem and that greed is to blame. A less avaricious trader might be happy with a strategy, and if we try to have different plans, we lose a lot of money.
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Quidat
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October 29, 2022, 09:58:25 PM |
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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.
This is the best advice, we have to learn more and adjust our trading plan based on the previous result of our trade. If we can execute this properly then the better, but if not that's fine just continue to update your trading strategy until you created a good combinations that can make you more profitable. Trading will never stop from moving, we have to stay updated. In short, you should really be that versatile on which you should really know on when to make out adjustments and when to apply those learnings that you do have in the past.If you do lack experience and you do experience something that you hadnt encountered before then this is an normal thing because not everyone would really be that perfect when it comes to trading. You cant really be able to determine precisely on where prices could really be able to go ahead and this is why on every price speculation would always remain as speculation. Improving ones self will really be depending on how you would really be adapting and act according on what you had experienced in the past and used those things on future trades to come.
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jrrsparkles
Sr. Member
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Eloncoin.org - Mars, here we come!
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October 30, 2022, 06:26:36 AM |
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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. Yes, it can be your strategy and if it is working for you then good to go with it but for me the strategy will really differ because I believe going against the trend will give more profits but it will take more time even years that is why we need to have enough patience and clear goal about what we are chasing and it varies depends on our capital and profit margin.
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| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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Junii
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October 30, 2022, 09:35:53 AM |
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For improving the trading results you need some skills i.e Research and Analysis , adapting your Market Analysis to changing Market Conditions, staying in the trading, Patience, do not add emotions in trading, you have to study the previous readings, discipline, study technical analysis, always use a trading plan, treat trading like a bussiness not a hobby or job, risk only what you can afford, learn everything about the business, know when to stop trading.
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goaldigger
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October 30, 2022, 09:53:51 AM |
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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.
Doing this from time to time meaning you are a responsible trader and you take actions to correct your mistakes and have a good trade. Analyzing every result might take you a lot of time but still it's advisable. Every trader have their own strategy, we must aim to become more good in trading and consider this as our business. Trading is indeed a challenging business, focus on that and spend more time.
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Woodie
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October 30, 2022, 11:42:09 AM |
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Great write up OP, just to add on what's in the OP.... Traders need not to always trade each time a chart is opened as doing so will lead to over trading and expose you to unnecessary losses.
Secondly, they say practice makes perfect and its from this we need to back test our strategy so that we become masters of the art of trading.
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kamvreto
Legendary
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Merit: 1157
MAaaN...!! CUT THAT STUPID SHIT
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October 30, 2022, 04:51:39 PM |
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-~snip~ There are lots of ways to practice and see if there is a specific strategy that will work for us. It might be a trial and error in the beginning and will take a long process of learning but we'll see a good result afterward.
Creating and compiling special strategies starting from good management as well as some suitable trading tools or indicators will be very helpful in the learning process. It is not easy to understand and know what strategies are suitable. By trial and error, it will determine which strategies are suitable and which strategies do not need to be used. Each trader chooses what type of trading they will use. and in the end the final result or profit that will determine success or failure and consistently earn profits. Seeing how big the average profit and loss is, after that evaluate what needs to be improved.
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Wakate
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October 30, 2022, 05:24:54 PM |
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There are so many ways we can improve our trading results which ranges from working on our strategies and fixing them in a way that will correlate with the current condition of the market. The market is always changing phases and what works yesterday may not work today which is the main reason why we need 5o always improve our strategies.
There are so many things we can do to work on our strategies and ourselves so that we can keep having a better results. Self improvement will help a trader to improve trading results.
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teosanru
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October 30, 2022, 05:39:19 PM |
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Create your trading plan, work on it and stick to your plan - Achieving consistency and disciplineIt is fascinating to see it start to pay off once you patiently work on it! And I wanted to share some of the rules I strictly followed here. It might help other traders and might add some value to the community here: - Systemizing the learning process
- Thinking on effective ways of learning.
- Build through small wins, not the biggest, but where's the easiest money for me to test and implement what I have learned
- I learned that I mostly lost profits and even ended up with losses for being too greedy for more profits and deviating from my trading plan.
- 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.)
- Don't let emotional elements affect your trading decision and harm your long-term profitability. (Automated trading helped me greatly with this and also with my trading discipline)
- Set a risk limit for each trade, but also for a day/week/month.
- Determine the right position size and start small
- Increase the size of trades slowly if your account grows
- Lower size or switch back to paper trading if your account doesn’t.
I think another big step which could have been added here stay away from tips and people who promise they earn 100% of their money daily, people who will say that they can make you rich in just a couple of weeks. And also from people who tell they have bots using which you can automate your trading set back and relax while the bot trades. There is no such readymade thing if there would have been such a thing everyone would be using it.
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Oceat
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October 30, 2022, 06:26:16 PM |
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There are so many ways we can improve our trading results which ranges from working on our strategies and fixing them in a way that will correlate with the current condition of the market. The market is always changing phases and what works yesterday may not work today which is the main reason why we need 5o always improve our strategies.
There are so many things we can do to work on our strategies and ourselves so that we can keep having a better results. Self improvement will help a trader to improve trading results.
Aside from self-improvement, practicing each strategy you have either minimizing the losses or maximizing the profit it helps you to understand what strategy you have to use when the market is changing. It's true that the market is unpredictable especially the Bitcoin prices but if you master the basics of your strategy you will earn more profit in the long run because you know how to play in the market. Practicing and reading a lot of books about trading will help you to completely understand how you will change the outcome as a different person from what you are before.
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3996
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LUCKMCFLY
Legendary
Online
Activity: 2520
Merit: 1873
Leading Crypto Sports Betting & Casino Platform
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October 30, 2022, 08:01:13 PM |
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Great write up OP, just to add on what's in the OP.... Traders need not to always trade each time a chart is opened as doing so will lead to over trading and expose you to unnecessary losses.
Secondly, they say practice makes perfect and its from this we need to back test our strategy so that we become masters of the art of trading.
Practice and continuous research would really help us grow as a trader and it could even improve our trading results. We can't be successful in just a single night or even gain huge profits from trading without doing our personal training. There are lots of ways to practice and see if there is a specific strategy that will work for us. It might be a trial and error in the beginning and will take a long process of learning but we'll see a good result afterward. It is true, but we must highlight something that not everyone likes and that is that when we lose in trading, there are two ways to take it, first anger, when it gets angry we don't even bother to check what happened, but if we take it from the second way is to review why that happened? what was it that we failed in the analysis, there we must learn more, now if we win a trade we must also review what happened for that movement to occur, and that is how we will also learn, I know that sometimes because of the emotion We didn't even review nda, and we say that we understood the market, but many things could have happened, first, we don't know if it almost hit the stop loss and then it went up, these are things that can happen.
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
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Mahanton
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
October 30, 2022, 08:15:32 PM |
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Great write up OP, just to add on what's in the OP.... Traders need not to always trade each time a chart is opened as doing so will lead to over trading and expose you to unnecessary losses.
Secondly, they say practice makes perfect and its from this we need to back test our strategy so that we become masters of the art of trading.
Practice and continuous research would really help us grow as a trader and it could even improve our trading results. We can't be successful in just a single night or even gain huge profits from trading without doing our personal training. There are lots of ways to practice and see if there is a specific strategy that will work for us. It might be a trial and error in the beginning and will take a long process of learning but we'll see a good result afterward. It is true, but we must highlight something that not everyone likes and that is that when we lose in trading, there are two ways to take it, first anger, when it gets angry we don't even bother to check what happened, but if we take it from the second way is to review why that happened? what was it that we failed in the analysis, there we must learn more, now if we win a trade we must also review what happened for that movement to occur, and that is how we will also learn, I know that sometimes because of the emotion We didn't even review nda, and we say that we understood the market, but many things could have happened, first, we don't know if it almost hit the stop loss and then it went up, these are things that can happen. As a trader then you should really be able to accept out those mistakes and errors which you do really need to re-assess on what happened so that on second time or next encounter, then you would really be having the idea on what you should gonna do.Improving trading results is something that would really matter on your experience and skills which had been enhanced by time.This is why you should really be that sensible and be that versatile on minding off on things which you do know that could make you something better.Then the next target? Minimize those errors as much as possible because there's no such thing about 100% profitability as a trader.It would be less but at least making yourself on higher percentage to make profits then this is what we should aim on.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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Silberman
Legendary
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October 31, 2022, 12:24:43 AM |
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I think that the best option is to work on a demo account. When I learned how to work with a broker from Amarkets, I did it in this way, and I was quite pleased with the results. I was able to noticeably improve my performance.
Demo accounts is the perfect start for traders with little or no experience. My issue with forex brokers is that on the demo account they make your trading strategy seem perfect and build so much confidence in the trader but once the traders moves to live account the story changes. And pretty sad not all crypto exchange have demo accounts so starting with small capital will be the only option Demo accounts are useful but we also need to recognize their limitations, many people do well when they trade with those demo accounts and this encourages them to try trading for real, but this is because when you are no using money in your trades then you can perform your strategy perfectly without any kind of issues, but when you use money then all kind of emotions begin to surface that were not there before and that in many cases cause traders to fail and make mistakes they will not make otherwise.
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blockman
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October 31, 2022, 10:40:38 AM |
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Great write up OP, just to add on what's in the OP.... Traders need not to always trade each time a chart is opened as doing so will lead to over trading and expose you to unnecessary losses.
Secondly, they say practice makes perfect and its from this we need to back test our strategy so that we become masters of the art of trading.
People think that we have to trade at all times just to have good in trading. It doesn't go like that, you have to gain experience but it doesn't mean that you have to do it at most times. There are many traders that only trade sometimes but if they do, they're mostly at profits because they know what they must do and it's not just a trade that will earn them pennies.
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alik111
Member
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October 31, 2022, 02:19:21 PM |
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I always like to research before trading or opening any position. To improve trading results we must choose the perfect coin for trading and have knowledge about risk management.
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GeorgeJohn
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October 31, 2022, 04:39:09 PM |
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I always like to research before trading or opening any position. To improve trading results we must choose the perfect coin for trading and have knowledge about risk management.
In trading we have different method of trading, but it's obvious that is all about risk, selecting good coin to be trade with it's absolutely encouraging, but trading involves risk and better skill method to follow. Sometimes what we experience via trading in the aspect of lost some people will not share the information. But i want to know that trading it's all about better foundation and search.
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justdimin
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October 31, 2022, 08:24:19 PM |
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Great write up OP, just to add on what's in the OP.... Traders need not to always trade each time a chart is opened as doing so will lead to over trading and expose you to unnecessary losses.
Secondly, they say practice makes perfect and its from this we need to back test our strategy so that we become masters of the art of trading.
People think that we have to trade at all times just to have good in trading. It doesn't go like that, you have to gain experience but it doesn't mean that you have to do it at most times. There are many traders that only trade sometimes but if they do, they're mostly at profits because they know what they must do and it's not just a trade that will earn them pennies. I agree but disagree at the same time. You shouldn't trade just for trading’s sake, that would be a wrong move and you will lose money. However, if you are trading because you think that you found a coin that is undervalued and it will go up soon enough, that would be a good situation to be in. I do not believe that we are going to end up with 40k+ soon for example, so there is no need to trade for me. The best thing to do would be long term investment. However, if I ever see a coin that could go up in the next week then I will trade it, buy some and wait for it to jump up. So I agree that do not trade all the time, but trade based on if you think you will profit.
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Mahanton
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October 31, 2022, 09:49:13 PM |
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I always like to research before trading or opening any position. To improve trading results we must choose the perfect coin for trading and have knowledge about risk management.
In trading we have different method of trading, but it's obvious that is all about risk, selecting good coin to be trade with it's absolutely encouraging, but trading involves risk and better skill method to follow. Sometimes what we experience via trading in the aspect of lost some people will not share the information. But i want to know that trading it's all about better foundation and search. Making that foundation to be strong and make yourself be experienced then you would really be able to attain that knowledge which would really be able to help you out on sustaining this market. You wont really be able to survive if you wont really be making yourself that versatile nor accept out those mistakes and error.Its just normal that unpredictability is really been that part. Trading results could really be ending up on negative but you should not really that tolerating that kind of emotion which it would really be resulting into quitting up directly without even doing your best or making out adjustments which is the thing you should really be focusing.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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kawetsriyanto
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October 31, 2022, 11:55:47 PM |
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I always like to research before trading or opening any position.
Research or analysis is a must, you can't start anything before doing it. If you want to buy a coin, you must analyze the chart pattern and the current issue related to the coin. Don't buy if there is a bad issue (bad news) or the chart pattern looks to drop drastically. To improve trading results we must choose the perfect coin for trading and have knowledge about risk management.
How do you define "perfect coins"? And how to know whether it is a perfect coin or not? If you refer to top coins, they are not always good for the option of trading. Except for investment, top coins are always recommended. Since people expect to get fast profits from trading, I think the best option is the coins that look to increase their value in the near future. So, we don't need to wait for a long time to sell the coins. IMO
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