What traders must know

[Barikui1]

 there are skills traders needs to acquire in other to be successful in the crypto market, and I will be talking about them, which are;


. patience: in trading patience is on of the skill required for you to be successful.

.over leaverage: in as much as leaverage is very enticing but try as much as possible not to over leaverage, so that you wouldn't got liquidated easily.

. learn how to control your emotions: you must learn how to control your emotions like fear and greed.

. learn fundamental & technical analysis: you have to learn fundamental and technical analysis so as to knowing how to navigate your way in the market.

. wait for the right set up: don't just trade because you want to, trade only when you see the right set up.

. Be discipline: while trading discipline is one thing you need to have so as to be successful in the market.

. stick to a trading strategy and trust your analysis: try as much as possible to stick to your trading strategy and trust your analysis.

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[Oshosondy]

The first thing that people should know is that trading is not for everyone. Also that trading is very risky just as gambling is very risky. Traders should also know that they might want to control their emotions but losses is not easy at all and people use to react to losses with unhappiness.

If you lose, do not trade until you have the right mind to trade again. People are more prone to losses after having little losses continuously. And this can lead to changing of trading plan to the one that can bring more losses.

It is true not to use too much leverage. 1x leverage or averaging is better. If you have enough money, it is better to go for averaging. The most important thing in trading is that you should use the amount of money that you can afford to lose to trade.

[Dr.Bitcoin_Strange]

All the points you have listed are quite valid for someone who wants to become successful in trading and prevent too many losses.

One very important thing is that newbies to trading or existing traders should not handle trading as if it's gambling. Trading is not the same as gambling, but it requires one to constantly practice how to make successful trades and also learn all the necessary things applicable to trading. For example, some traders don't even know the best low-risk leverage to apply while trading; they fail to realize that high leverage will result in quick liquidation because the price of Bitcoin can become very volatile.

Secondly, greed is a very important aspect that a trader should practice to prevent such behavior because it can cause them to even lose the profit they have already earned. For example, if you enter a position and the market is going in your direction, you have already earned enough profit, but you became greedy and decided to stay longer in the trade to gain more profit. You can end up losing even the profit you already made.

[Hamphser]

stick to a trading strategy and trust your analysis

I would be recommending this if i were to choose one of the best things that you should really be following on.

On this method or approach, you would be able to avoid;

1. Getting fomo
2. Following those so called experts but really just that shit speculators
3. Regrets on losing on a trade that it isnt yours
4. Decision stir up

This is why it would really be always that best that you should really know at least on the things that you've been dealing with.
The rest of learning could really be acquired through real experience and this is something that you should really be putting in mind
on the time that you would really be dealing up with trading. Sustain and survive should be your primary goal or target.

[Maslate]

Learning how to control one’s emotions when trading is never that easy but always hard especially that traders are greedy in nature. We can’t always avoid being emotional when trading because that is already a nature for us, but what else can we do if the only way to highly succeed in trading is to minimize the involvement of emotions. Emotions can cause so much distraction, so if you are too emotional and is easily bothered with small losses and hard to overcome, it’s better not to take risk in trading.

[freedomgo]

If you are a disciplined trader in general, you will not worry other things because you know how to be a responsible and a successful trader in the process. The only thing you will focus is to increase and widen your experience in the market so that if every you decide to trade at a unfavorable market condition, you will still end up making a positive outcome.

Trading covers different aspects, be it mentally, emotionally and physically. As long as you are a disciplined one, all good things will easily follow.

[Assface16678]

there are skills traders needs to acquire in other to be successful in the crypto market, and I will be talking about them, which are;


. patience: in trading patience is on of the skill required for you to be successful.

.over leaverage: in as much as leaverage is very enticing but try as much as possible not to over leaverage, so that you wouldn't got liquidated easily.

. learn how to control your emotions: you must learn how to control your emotions like fear and greed.

. learn fundamental & technical analysis: you have to learn fundamental and technical analysis so as to knowing how to navigate your way in the market.

. wait for the right set up: don't just trade because you want to, trade only when you see the right set up.

. Be discipline: while trading discipline is one thing you need to have so as to be successful in the market.

. stick to a trading strategy and trust your analysis: try as much as possible to stick to your trading strategy and trust your analysis.

I think this kind of topic is redundant and its content. If you will explore the section, you will see similar topics you have. Anyway,  in terms of traders knowledge or skills to be acquired, let's face it, not all traders could have them or manifest them because every person is different. There are people or traders that can't have patience at all or traders that can't control their emotions. This skill is essential, yes, and the basic knowledge or foundation of the traders that needs to be learned, but the thing is, not all traders can follow this kind of skill or guide, especially those new to trading. They focus more on following their intuition and their own decisions, which is why they lose trades and don't succeed in trading. But also, let's face it, it's hard to manifest this kind of guide or skill as a trader because it will take some time for you to master it. Even in trading, experienced traders still lose trades because that's the nature of humans; they sometimes forget what they have learned.

[Marvelman]

Yes, let's be real - not every trader is going to have or demonstrate those talents because people vary.  Some folks just don't have an ounce of patience.  Others cant rein in their emotions.  You can't expect all traders to excel in that arena.  We each have our own strengths and shortcomings. But this does not mean that we are all bad traders, because some can simply good at what they do. What matters is figuring out your weaknesses and actively working to improve.  Don't beat yourself up over what you can't yet master.

[shinratensei_]

one more thing to avoid fomo is that when a coin is already so high from the latest bottom you maybe should know that investing and buying at that time isn't really a great idea, remember that coin that are having pump could be dumping in just a blink of an eye, definitely, know the pattern, some whales that dumps are definitely gonna load off their possession of their coin at some point so if you are so hell bent on trying to buy at high, then be ready to become the exit liquidity.
if you encounter such thing its better to just observe other coin out there maybe there are some coin that just hit all time low and you could profit off of it definitely a lot more worth it than just sticking with coin
that are already valued too high.

[Awaklara]

I think there are already a lot of threads discussing this kind of thing on trading boards and Beginners & Help. The information that I often encounter is not much different from what the OP meant.
OP, if you are a trader with extraordinary experience in the market, maybe you can share how you make an analysis. it might be better than just textual information. but I appreciate you sharing information whether it is from your experience or your knowledge after reading certain sources.

[JariKriting]

What indicator do you use to analyze when to enter the market to buy and when to execute to sell.
because if only a writing without clear signal guidance from an indicator will be difficult to understand, especially newbies.

[Queentoshi]

. learn fundamental & technical analysis: you have to learn fundamental and technical analysis so as to knowing how to navigate your way in the market.

You do not just need to learn technical and fundamental analysis; you need to master it.

. wait for the right set up: don't just trade because you want to, trade only when you see the right set up.

Have indicators and set ups that you expect to see as confirmation for whatever analysis you make when you are trading. Looking for too many things can become too confusing.

. stick to a trading strategy and trust your analysis: try as much as possible to stick to your trading strategy and trust your analysis.

Do not try to many strategies, change strategy only when it is become less effective and obsolete.

[Strongkored]

. learn how to control your emotions: you must learn how to control your emotions like fear and greed.

If you trade based on good trading skills, it is very possible that you will not be controlled by emotions, whether it be fear or greed because all the decisions you make, both when opening a position and also closing a position, are made based on analysis and this analysis is based on skills. well not because of guessing or feeling, because there are traders who base their decisions on this or because they read the news or other people's posts, not because they are good at trading..

[Vaculin]

It is very important for a trader to know what they need to learn before starting trading. Like if we aim for success, we also need to acquire more trading ideas and skills. However, learning to control emotions is one of the most important things we need because this creates a huge impact on our trades. In fact, many traders carry good knowledge and trading skills but they still lose due to a lack of emotional control. This simply means that by knowing how to manage it, we are very close to achieving our goal.

[irhact]

there are skills traders needs to acquire in other to be successful in the crypto market, and I will be talking about them, which are;
. patience: in trading patience is on of the skill required for you to be successful.

.over leaverage: in as much as leaverage is very enticing but try as much as possible not to over leaverage, so that you wouldn't got liquidated easily.

Patience is needed when trading but you need to know when to stop having patience and move on from that trade, not every trade will give you profits therefore when you keep hoping with patience that a trade wil turn from being negative to positive, you can end up losing more money and you will get discourage from continue trading. Sometimes you have to end the trade prematurely as it isn't not going in the direction that you predicted the market to move.

Over leveraging isn't a skill to have when trading cryptocurrency, we shouldn't over leverage or we'll not make profits. If we're still newbie in trading it'll be better we start with spot trading and not try future trading until we have gotten enough experience from many years of trading or we'll lose. Discipline is good thing to have as a trader, discipline will help you to become a professional trader.

[Abu-Naim]

You have listed valid points OP, when these introductions are strictly followed, a newbie trader will gain good experience and earn from trading with time.

You forget to warn them from been greedy; most newbies in trading are greedy and are always willing to make it big within short time which is wrong because everything is a gradual process.
Let’s learn to take the little profit we have and start all over again, greed will always lead us astray, let’s avoid it and focus on learning everyday, knowledge is the foundation of everything.

[MusaMohamed]

It is very important for a trader to know what they need to learn before starting trading. Like if we aim for success, we also need to acquire more trading ideas and skills. However, learning to control emotions is one of the most important things we need because this creates a huge impact on our trades. In fact, many traders carry good knowledge and trading skills but they still lose due to a lack of emotional control. This simply means that by knowing how to manage it, we are very close to achieving our goal.

If a trader starts trading without learning, it is very bad practice.

However, in contrast if a trader learned first, then start trading, it does not guarantee success and it is a must-known fact for every trader. They must know that trading is risky and a hard job so only learning is not enough. They must learn, but also need to practice a lot of time to test knowledge and trading strategies they learn so that they can know what they did not understand, what they need to be corrected in knowledge and what they must adjusted themselves in emotion and psychology, action control.

[the rise]

all the points OP said are very true,
patient, control emotions, not greedy, confident, but unfortunately many traders ignore all these appeals, like me personally I only trade because I just want to without looking at the right set up, maybe that's the reason I've never been successful in trading, but my situation is quite It's good because I don't suffer losses forever, but it's only temporary that I get profits. The rest of the time I'm mostly on leave, hopefully in the future I can apply it

[edy_58]

It is very important for a trader to know what they need to learn before starting trading. Like if we aim for success, we also need to acquire more trading ideas and skills. However, learning to control emotions is one of the most important things we need because this creates a huge impact on our trades. In fact, many traders carry good knowledge and trading skills but they still lose due to a lack of emotional control. This simply means that by knowing how to manage it, we are very close to achieving our goal.

Yes, of course as beginners they have to learn well about trading if they want to be successful in trading which they do after they learn well they can try it with the capital they have and after they gain experience in trading then they will be able to achieve success in trading and We also need to be able to control our emotions in trading so that we are not greedy in trading which will have a bad impact on us, because if we trade greedily of course we will miss out on the profits we have made and we will experience losses in trading.

[Nrcewker]

Yes all these do play important role I must say. But the main thing that a trader needs to keep it in their mind is the patience. If you don’t have patience, then no matter how you trade. You won’t be able to make good profits. You can try many strategies, but in order to make profit from the market, you have to keep patience I must say. Patience plays very vital role and it determines the outcomes very often. If one masters the art of patience then definitely he will make great profits.