BitcoinTurk
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November 04, 2022, 01:35:56 AM |
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It seems like very standart answer but experience is the golden key for improve your trading skills. Everyone can follow some basic rules in trading but we're improving them with making some fails. For example, you know opening a leveraged trade with some percentage of your money and you can follow this rule for a while but when you made a mistake and open a position as ''all-in'' and you lose money you gain a new experience. However, you can repeat this sometimes but when you're improve your that skill, you're start to not open a position ''all-in''. For summarize it, I want to mention again. Experience is the golden key for improve trading skills. I just gave one example about it, everyone can add more like this with making some failed transactions.
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maydna
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November 04, 2022, 05:22:14 AM |
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It is not that hard. If you are following one strategy, could you be consistent with it? Could you tweak it as long as you didn't find your desired results? If yes, then you can improve yourself to the next level. Sometimes people follow a strategy, and if it doesn't work a few times, they abandon it. Every strategy can work. You need to find the right way to use it.
Using strategies is difficult to change circumstances for profit, so every trader needs to have many strategies that the strategi can be used based on the conditions that occur in the market. What they need to have is good analytical skills so they can find gaps to enter the market and buy at the right time. This requires continuous experience and learning, and it takes time. Maybe you can use one strategy in certain circumstances, but at other times, that strategy will not work anymore because of market price fluctuations that occur every day. Having a lot of strategies packed up, we also have many options which one is likely applicable depending on the market condition. 2-3 strategies might be good enough but I suggest not just focusing on building and creating strategies but rather building and enhancing our knowledge and skill as this will also influence the results of our trades. Because you can't appreciate how good is our strategy if we also lack of knowledge and experience. The more strategies, the better because it will be useful to deal with unpredictable market changes so that we can adapt to all situations and conditions. Increasing our knowledge and skills in the analysis is very helpful in timing the trade so that we can expect to make a profit every day or week. And strategy coupled with analytical skills will give you much better results in trading. It will also help us to stay aware of all the changes in the market.
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rozak
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November 04, 2022, 07:00:21 AM |
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The more strategies, the better because it will be useful to deal with unpredictable market changes so that we can adapt to all situations and conditions. Increasing our knowledge and skills in the analysis is very helpful in timing the trade so that we can expect to make a profit every day or week. And strategy coupled with analytical skills will give you much better results in trading. It will also help us to stay aware of all the changes in the market.
if you trade too many strategies, I think you are not ready to lose in your trades. and looks to force your trading assets to continue to profit. you have to believe, every trade will bring you profit or loss. there is no need to impose your ability to continue to profit on your trading assets if that is simply not possible. if the asset is not able to return or make a profit on our trade. the next option is to get out of the asset even though it is a loss. and switch to other assets for investment or trading that have better opportunities. or you can patiently wait for a pump on a losing asset, by turning a trading plan into a long-term investment plan.
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inthelongrun
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November 04, 2022, 10:35:45 AM |
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Great tips. It's perfect. Although there can be more tips aside from OP. And also, strategies differ depending on a trader's fit. Sticking to the plan with discipline is the safest which includes the stop loss and the take profit. I am not a fan of stop loss though. I earned a lot doing it but I also lost a lot doing it.
Do you own the blog OP? I always encounter topics about trading but they always fail to interest me probably because I already have years of experience too although I admit I am not a great trader. On this topic, I felt like OP is indeed a good trader. Upon reading this, I felt the urge to trade again. Of course, I need to start small to test my strategies if they work. I just don't like paper trading.
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carlisle1
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November 04, 2022, 10:48:49 AM |
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It is not that hard. If you are following one strategy, could you be consistent with it? Could you tweak it as long as you didn't find your desired results? If yes, then you can improve yourself to the next level. Sometimes people follow a strategy, and if it doesn't work a few times, they abandon it. Every strategy can work. You need to find the right way to use it.
Using strategies is difficult to change circumstances for profit, so every trader needs to have many strategies that the strategi can be used based on the conditions that occur in the market. What they need to have is good analytical skills so they can find gaps to enter the market and buy at the right time. This requires continuous experience and learning, and it takes time. Maybe you can use one strategy in certain circumstances, but at other times, that strategy will not work anymore because of market price fluctuations that occur every day. Having a lot of strategies packed up, we also have many options which one is likely applicable depending on the market condition. 2-3 strategies might be good enough but I suggest not just focusing on building and creating strategies but rather building and enhancing our knowledge and skill as this will also influence the results of our trades. Because you can't appreciate how good is our strategy if we also lack of knowledge and experience. The more strategies, the better because it will be useful to deal with unpredictable market changes so that we can adapt to all situations and conditions. Increasing our knowledge and skills in the analysis is very helpful in timing the trade so that we can expect to make a profit every day or week. And strategy coupled with analytical skills will give you much better results in trading. It will also help us to stay aware of all the changes in the market. Keep improving your skills gives you the advantage to know how to adjust to each situation that market is behaving, if you know how to combine both your experienced and your analytical analysis, the chance of placing your position in the right place is high. It's your own take that will give you the benefits that you are aiming it takes time, but once you succeed, there's no stopping to keep compensating from this field.
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Kelvinid
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November 04, 2022, 12:06:05 PM |
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Great tips. It's perfect. Although there can be more tips aside from OP. And also, strategies differ depending on a trader's fit. Sticking to the plan with discipline is the safest which includes the stop loss and the take profit. I am not a fan of stop loss though. I earned a lot doing it but I also lost a lot doing it.
Consistency and persistence are what we need upon trading. Many traders failed because of being impatient and being not able to provide the needed things in trading. Mismanagement of our funds is also a reason why failing but I know we can make it right as long as we are committed to making change our behavior and our attitude toward trading. Actually, trading is not an easy game, there are a lot of factors to consider if we talk about improving results but the first thing to do is to find our weakness and immediately address this will resolve the issue.
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BITCOIN4X
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November 04, 2022, 09:34:56 PM |
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Consistency and persistence are what we need upon trading. Many traders failed because of being impatient and being not able to provide the needed things in trading. Mismanagement of our funds is also a reason why failing but I know we can make it right as long as we are committed to making change our behavior and our attitude toward trading. Actually, trading is not an easy game, there are a lot of factors to consider if we talk about improving results but the first thing to do is to find our weakness and immediately address this will resolve the issue. Trading is not as simple as it seems, I hope it represents my thoughts on the OP's question. I never thought that this trade was easy because in reality we always find it difficult to make bold decisions when it comes to risk. Everyone wants profit, while loss is always undesirable. So in my opinion it is difficult to be a successful trader to get consistent results every trading session even though experience and theoretical knowledge are very well prepared. Some of the suggestions are definitely very good, but the practice may be very difficult because we are dealing with money not demo accounts. Remember that, trading is a high-risk activity so it is mandatory for every trader not to ignore the risk even though they can actually make a profit.
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Oilacris
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November 04, 2022, 09:39:36 PM |
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Great tips. It's perfect. Although there can be more tips aside from OP. And also, strategies differ depending on a trader's fit. Sticking to the plan with discipline is the safest which includes the stop loss and the take profit. I am not a fan of stop loss though. I earned a lot doing it but I also lost a lot doing it.
Consistency and persistence are what we need upon trading. Many traders failed because of being impatient and being not able to provide the needed things in trading. Mismanagement of our funds is also a reason why failing but I know we can make it right as long as we are committed to making change our behavior and our attitude toward trading. Actually, trading is not an easy game, there are a lot of factors to consider if we talk about improving results but the first thing to do is to find our weakness and immediately address this will resolve the issue. And all of these things would really be requiring that patience inside you because you cant really execute out your strategy and skills when you are been bothered by your emotions and this might result when you arent really making yourself that patient enough. You should learn up the things that you had experienced along the way.You do need to apply those errors and mistakes on next time you do encounter. Learn something from it and this is where you do raise up your awareness on everything. Results could really vary on how much knowledgeable and skillful you are on this market.
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jaberwock
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November 05, 2022, 06:42:22 AM |
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Great tips. It's perfect. Although there can be more tips aside from OP. And also, strategies differ depending on a trader's fit. Sticking to the plan with discipline is the safest which includes the stop loss and the take profit. I am not a fan of stop loss though. I earned a lot doing it but I also lost a lot doing it.
Consistency and persistence are what we need upon trading. Many traders failed because of being impatient and being not able to provide the needed things in trading. Mismanagement of our funds is also a reason why failing but I know we can make it right as long as we are committed to making change our behavior and our attitude toward trading. Actually, trading is not an easy game, there are a lot of factors to consider if we talk about improving results but the first thing to do is to find our weakness and immediately address this will resolve the issue. I do agree that it’s not that easy to keep on doing something for hours every day for a very long time. This isn't even just trading, even reading a book for 1 hour a day for 365 days a year for 5 years is a big task. Sure, there could be a few days where you miss, but usually people give up. Hobby is the same thing; you can't really do a hobby for that long and consistently. Some people do, and that type of people also do great trading as well, but not everyone. I assume that it’s going to be hard for most people to be consistent and keep on trading every day or learn something about every day and make that a reality. I am sorry but it’s just not in the genes of every human on the planet.
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Silberman
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November 06, 2022, 01:38:44 AM |
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Consistency and persistence are what we need upon trading. Many traders failed because of being impatient and being not able to provide the needed things in trading. Mismanagement of our funds is also a reason why failing but I know we can make it right as long as we are committed to making change our behavior and our attitude toward trading. Actually, trading is not an easy game, there are a lot of factors to consider if we talk about improving results but the first thing to do is to find our weakness and immediately address this will resolve the issue. Trading is not as simple as it seems, I hope it represents my thoughts on the OP's question. I never thought that this trade was easy because in reality we always find it difficult to make bold decisions when it comes to risk. Everyone wants profit, while loss is always undesirable. So in my opinion it is difficult to be a successful trader to get consistent results every trading session even though experience and theoretical knowledge are very well prepared. Some of the suggestions are definitely very good, but the practice may be very difficult because we are dealing with money not demo accounts. Remember that, trading is a high-risk activity so it is mandatory for every trader not to ignore the risk even though they can actually make a profit. The point you are bringing is important, trading is a high risk activity and yet somehow people think they can make it a low risk or even a no risk activity and this is not possible, even if you are a good trader and you can obtain profits you are still taking a massive risk by trading, this explains why even good traders can lose everything as they believed that their experience and skill could insulate them from that risk and trade in whatever way they want and we know this is not true.
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Bhig Daddy
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November 06, 2022, 07:43:10 AM |
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Making a plan is simple, but carrying it out and following it through is difficult. I admire the effort you put into the writing, however to be quite honest, it works best in theory. When trading with real money, you must exercise utmost caution and vulnerability in every trade. The only ways to improve one's trading are through risk control and experience. A trader will undoubtedly get better outcomes and make more money if he is aware of the appropriate level of risk to take.
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Strongkored
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November 06, 2022, 01:07:26 PM |
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Create your trading plan, work on it and stick to your plan - Achieving consistency and discipline
staying disciplined with what has been targeted is not easy even though it is one that can make us success Usually, in case I want to improve my results, I work on a demo account. At least, when working with a broker from Amarkets, I did just that. This gave me a very good work result!
Are the results on a demo account as good as when you use real money to trade? if it's the same that's good because often traders who use demo accounts to learn actually get the opposite results when using real money.
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Xampeuu
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November 06, 2022, 02:13:39 PM |
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Consistency and persistence are what we need upon trading. Many traders failed because of being impatient and being not able to provide the needed things in trading. Mismanagement of our funds is also a reason why failing but I know we can make it right as long as we are committed to making change our behavior and our attitude toward trading. Actually, trading is not an easy game, there are a lot of factors to consider if we talk about improving results but the first thing to do is to find our weakness and immediately address this will resolve the issue. Trading is not as simple as it seems, I hope it represents my thoughts on the OP's question. I never thought that this trade was easy because in reality we always find it difficult to make bold decisions when it comes to risk. Everyone wants profit, while loss is always undesirable. So in my opinion it is difficult to be a successful trader to get consistent results every trading session even though experience and theoretical knowledge are very well prepared. Some of the suggestions are definitely very good, but the practice may be very difficult because we are dealing with money not demo accounts. Remember that, trading is a high-risk activity so it is mandatory for every trader not to ignore the risk even though they can actually make a profit. The point you are bringing is important, trading is a high risk activity and yet somehow people think they can make it a low risk or even a no risk activity and this is not possible, even if you are a good trader and you can obtain profits you are still taking a massive risk by trading, this explains why even good traders can lose everything as they believed that their experience and skill could insulate them from that risk and trade in whatever way they want and we know this is not true. Trading is risk control, so every time there is a profit target there is a risk of loss. and risk management in many ways, we are required to always think logically in taking action. especially for day trading, of course we have to be very disciplined with our framework, and it's impossible for every transaction to always make a profit, of course we have to take losses if it doesn't go according to the original plan, by understanding the basis then we will be more comfortable to trade
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serjent05
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November 06, 2022, 07:36:09 PM |
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Experience and knowledge require time and consistency. It will build up over time. Those two are also needed for developing a strategy. Most of us do not focus on having patience. We do panic in certain conditions and do not apply our strategy. Patience is another vital role if we want long-term success from trading cryptocurrency. All these points are valid for all sort of trading.
True, those that we read in the book are just theories and concepts, same goes with what the OP has written, It will only give us hints and instruction, but it won't improve our trading results that much in our initial try. Experience synergize our knowledge, since in trading there are different scenario and situation we will experience (both good and bad), and being exposed to these bad things, again and again, we can develop a strategy and action to do in order to be triumphant agains this hurdles in our success in trading. Trading is risk control, so every time there is a profit target there is a risk of loss. and risk management in many ways, we are required to always think logically in taking action. especially for day trading, of course we have to be very disciplined with our framework, and it's impossible for every transaction to always make a profit, of course we have to take losses if it doesn't go according to the original plan, by understanding the basis then we will be more comfortable to trade
True risk control involves research, planning, and making different strategies in order to solve issues in trading that can't be solved with the initial plan. It is a good thing to be prepared and well-knowledgeable in every trading venture we do since with all this knowledge we can devise a very good risk control program.
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Peanutswar
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November 07, 2022, 10:36:51 PM |
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Before committing a trade it is ideal to have your trading plan always set the signals need and one of the most basic and common trade mistakes is getting greedy and not putting their stop loss and taking a profit. Always remember that if you work well in executing market trade, you know how to get disciplined in the price because getting greedy makes us more losses than taking a profit.
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milewilda
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November 07, 2022, 11:10:06 PM |
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Before committing a trade it is ideal to have your trading plan always set the signals need and one of the most basic and common trade mistakes is getting greedy and not putting their stop loss and taking a profit. Always remember that if you work well in executing market trade, you know how to get disciplined in the price because getting greedy makes us more losses than taking a profit.
You would eventually learn all of these things along the way which it really just right that you should set out plans and goals when you do engage with trading. Results couldnt be directly be positive specially when we are just starting up this is why you should really be preparing yourself on seeing these outcome or results. Improving would be particular be pertaining about on how you would be correcting your mistakes or errors which you would be applying your real experience which this is something that you do need to improve overtime.
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tygeade
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November 08, 2022, 05:29:00 AM |
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Experience and knowledge require time and consistency. It will build up over time. Those two are also needed for developing a strategy. Most of us do not focus on having patience. We do panic in certain conditions and do not apply our strategy. Patience is another vital role if we want long-term success from trading cryptocurrency. All these points are valid for all sort of trading.
True, those that we read in the book are just theories and concepts, same goes with what the OP has written, It will only give us hints and instruction, but it won't improve our trading results that much in our initial try. Experience synergize our knowledge, since in trading there are different scenario and situation we will experience (both good and bad), and being exposed to these bad things, again and again, we can develop a strategy and action to do in order to be triumphant agains this hurdles in our success in trading. That is true, books and studying will give you a "guide" and they will tell you what should you expect when you are doing something but that also means that you could end up with at least a walkthrough when you are doing it. That is a good thing because when something happens, you would know what you should expect and what you should do and be ready for them as well. Sometimes you could be wrong, sometimes what the book tells could be wrong as well, but not at all times and you will gain experience and the more you do it the more you will memorize what is happening and what should be expected and you will get only better and better at it. So time + study + experience will equal profits.
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thecryptogandalf (OP)
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November 11, 2022, 04:17:53 PM |
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Before committing a trade it is ideal to have your trading plan always set the signals need and one of the most basic and common trade mistakes is getting greedy and not putting their stop loss and taking a profit. Always remember that if you work well in executing market trade, you know how to get disciplined in the price because getting greedy makes us more losses than taking a profit.
You said it! Most people are either taking it as a gamble or they are not taking it seriously. Trading is a process that requires time and discipline. It is important to have the mindset that your trading strategy will not work all the time but over time in the long term. Having a long-term trading approach is what matters for your trading success.
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Oilacris
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November 11, 2022, 11:55:40 PM |
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Before committing a trade it is ideal to have your trading plan always set the signals need and one of the most basic and common trade mistakes is getting greedy and not putting their stop loss and taking a profit. Always remember that if you work well in executing market trade, you know how to get disciplined in the price because getting greedy makes us more losses than taking a profit.
Stoploss would be only relevant if you do neither get involved with futures,scalping and other short term ways on dealing up with crypto prices but if you are really going for spot and you do experience out that negative then you could still have the chance for recovery or break even when the market tends to green but its cons then it would really be a test of patience since no one would ever know on when the market will really be doing that which it would be normal that you would be finding for some options or ways and this is where trial and error do take place.
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thecryptogandalf (OP)
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November 14, 2022, 03:12:03 PM |
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Before committing a trade it is ideal to have your trading plan always set the signals need and one of the most basic and common trade mistakes is getting greedy and not putting their stop loss and taking a profit. Always remember that if you work well in executing market trade, you know how to get disciplined in the price because getting greedy makes us more losses than taking a profit.
Precisely, most of the traders end up with losses for being too greedy for more profits and deviating from their trading plan. Practice patience and focus on executing your system is what most of us missing I think.
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