What traders must know

[lombok]

I believe the points OP conveyed were very good and helpful. This certainly has a positive impact if we are disciplined in carrying out each point, but sometimes passion or emotion will sway us to avoid certain points that result in failure or loss.

Of course, activities that are repeated continuously and of course without violating any points and staying on track will provide positive results.

Yes, the points are clearly valid and if strictly followed by any newbie trader there will be positive outcomes in their trading journey. But do you know that all these points are not for lazy people who are just into trading to make some money through the signals they just get from some traders that may claim to experts?
To be a successful trader, you are not supposed to be lazy, and you will have to tighten up and do research and learn every day so as to always have any good updates about any advanced strategies that will bring good profit while trading.

Yup, depending on signals is an obstacle and ruins your trading strategy. Why do I say that, because signals and similar things like copytrading can also cause dependency. Imagine if the signal or copy trading is stuck for a few days or even weeks, this will affect our own trading performance, because we are not independent, our productivity will decrease. Apart from that, it creates a side effect of being lazy, being lazy about learning new things about trading, being lazy about updating knowledge which is actually very vital for trading activities.

[wtsimis]

Success in the cryptomarket requires an essential skill set that every business should cultivate.  Patience is the most important thing.  Because the market can be volatile all the time, you have to wait for the best opportunity.  Risk must be managed through prudent and investment strategies.  Always keep in mind leverage in futures trading.  Since crypto investing involves risk, fear and greed must always be kept in check.  Which will be essential for you to take proper decision.  Trading strategy in crypto currency should be followed by practicing discipline.  Then you must be one of the successful traders.

[jossiel]

The safest is not go with any leverage or if you want to, just set it to 2x. Start all with spot and you don't have to go with all of the leverage and be jealous with other traders flaunting their wins and profits on social media through futures.

You have your own way of trading and there is no need for you to do what the herd does. Maybe your profitable way of trading is through the spot and there's no need to put pressure to yourself.

It's not always the amount that you'll gain but as long as you make a profit and you're hassle free, that's winning like a champion TBH.

[Lantind]

Success in the cryptomarket requires an essential skill set that every business should cultivate.  Patience is the most important thing.  Because the market can be volatile all the time, you have to wait for the best opportunity.  Risk must be managed through prudent and investment strategies.  Always keep in mind leverage in futures trading.  Since crypto investing involves risk, fear and greed must always be kept in check.  Which will be essential for you to take proper decision.  Trading strategy in crypto currency should be followed by practicing discipline.  Then you must be one of the successful traders.

To be successful in crypto, of course you have to have good skills and knowledge about crypto and we also have to understand correctly how volatile market movements are and we don't need to panic by selling at a loss and we have to be wise in deciding something and not do it wrongly. in a hurry, when investing in crypto which has risks we must be able to control ourselves and not do it greedily so that we make the wrong decision on the investment we make and will not be able to get a profit from the investment and also we must continue to learn about crypto even though we already have a lot of knowledge and experience in the crypto world.

[Sebas.tian]

Being patient helps you wait for the best opportunities while keeping leverage in check prevents sudden losses. Emotions like fear and greed can mess with your decisions so it's important to stay cool-headed. Also discipline  keeps you on track with your strategy and trusting your analysis gives you the confidence to stick with it. It's like building a sturdy ship to sail through the ups and downs of the crypto waves

Patience is a popular tool many traders used to achieved what they want to achieve from their crypto trading, which if you apply the same tactics in your trading, it will help you to trade well when the bullish season appear and you will be happy with what you will achieve at the end. Do what you can do to eliminate fear as a trader, because it can make you loose all your opportunity in the market but if you are trading without fear or emotion of the new price in the market, it will help you to stay long in profit making. Confidence is another tool you can use to see the light of the day, which you need to be confidence with that coins you are holding for the bullish season to come before you can trade.

[justdimin]

OP what is this, you've created a long list of the important terms and skills every trader must have you haven't answered the core of your own question, What does a trader know? Hmm is what you wrote is the answer?

Haha, Becasue what I think is a trader must know that he's a trader until or unless he realizes that he's a trader he is not able to fetch any of the attributes OP you've mentioned. I know I know this is a stupid concept but this is the only concept bro. Like my teacher of English he always used to say keep it simple that's the reason I've kept it simple. Hehe sorry sir I respect your contribution but this is old stuff so I thought why not to put some spice into it.

Basically the idea was a trader should know these terms or something like that I assume? I mean that's what it looks like, there are some cliche stuff, and they are quite boring to anyone who has been around for a long time but I would say maybe he did it for the noobs with some good intention I can't really know. In the end, we have seen a lot of people who has posted a lot of stuff all around, so it is not like it would be impossible for me to have something shocking, it is just how the world is and how we should approach it as much as we could, there is really no other way around it.

I understand that we are not going to see people profiting everywhere, but at least reading this would make them take one small step, not really bad idea, cliche but not wrong.

[Hamza2424]

Basically the idea was a trader should know these terms or something like that I assume? I mean that's what it looks like, there are some cliche stuff, and they are quite boring to anyone who has been around for a long time but I would say maybe he did it for the noobs with some good intention I can't really know. In the end, we have seen a lot of people who has posted a lot of stuff all around, so it is not like it would be impossible for me to have something shocking, it is just how the world is and how we should approach it as much as we could, there is really no other way around it.

I understand that we are not going to see people profiting everywhere, but at least reading this would make them take one small step, not really bad idea, cliche but not wrong.

Hmm, I know what Op meant as from my tone in the feedback you can easily track out that I was not meant to dis-respect OP's emotions in the post or anything like that, what I was doing and trying to say was quite the same but as you've mentioned also people recurrently post such stuff I was just putting the spice and flavor on the same concept.

Haha, Also seems like such stuff doesn't need clarifications, but with this post, I wanted to clarify my intentions for the post. Haha on the same time a tip for traders actions gives the rewards not just imaginations.

[doomloop]

However, I think the most important concern is learning on how to control your emotions. Not all traders are capable to control their emotions even those long time traders in the market. This is the reason why despite of their expertise, they still experience inevitable losses due to high emotions that they fail to avoid.

That's true, The FOMO falls in the same category and it's a very dangerous thing for a trader. Traders, mostly new ones, make the mistake of buying cryptocurrencies at the wrong time, when they see those straight-up candles they feel that they are missing out on huge profits, and they make an entry unaware of the fact that they are entering the market when others are already exiting and they are providing exit liquidity for those taking profit.

Such practices often make traders lose a lot of money, I experienced this as well when I was new in the market. I didn't know much and when I saw a coin going straight up, I thought I would enter and exit very quickly just taking a few hundred bucks in profit, but it started dropping as soon as I entered, and never went back up to where I bought.

[AakZaki]

I think this is general knowledge that is often talked about and about how a trader should know every point you mentioned.
but is it easy to implement them all? Of course not, there will be several points that you cannot fulfill, as humans no one is perfect and each person's job will be different. Have you (OP) implemented it yourself?
Because if you don't apply each of these points you are just saying nonsense because you don't act like you say.

[Bravut]

Exactly 📌 but it quite hard most at times to adhere to your rules,it requires lot of discipline,mehnn when you see lot of money in the market, pressing issues..greed then steps in making one to over leverage and avoid the look of making trading a long term and permanent aspect of what one follow.
But I believe all this can be achieved if only we constantly and consistently follow it and appreciate every moves in our trading journey.
Discipline and Trust in our analysis helps alot

[Baki202]

Success in the cryptomarket requires an essential skill set that every business should cultivate.  Patience is the most important thing.  Because the market can be volatile all the time, you have to wait for the best opportunity.  Risk must be managed through prudent and investment strategies.  Always keep in mind leverage in futures trading.  Since crypto investing involves risk, fear and greed must always be kept in check.  Which will be essential for you to take proper decision.  Trading strategy in crypto currency should be followed by practicing discipline.  Then you must be one of the successful traders.

Anyone going into crypto should have it in the back of their mind that they might not start making money immediately after they start it will take some amount of time to start making from it. and you even need to have learned well before anything like profit will come your way then when you master that skill you can do things in Bitcoin without being scared any longer, and that is one of the similarities that Bitcoin has with gambling they both need a mind to be able to carry out some stubborn and rugged decisions. and Leverage is a good risk management measure that a lot of people fail to use when they are trading, sometimes that greed is important because it might just push you to your luck but people are always scared and I don't blame them. and trading is not much of a risk especially even if you follow little instruction given by your coach then you won't lose much since you can adjust whatever amount you want to use to trade.

[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.

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.

Yes, I agree with that as learning the basics is not enough to become successful. To face losses and commit mistakes is a real experience that all traders have encountered and this gives us more learnings which involves controlling our emotions, mindsets, and testing our determination. Indeed, it was not a guarantee that we could be profitable however, this would enlighten and give us an idea of why we should not take this trading easily but instead, take this as a serious job. Every single mistake that we make certainly incurs losses in return which we need to avoid or at least can be minimized. That is why it is not just knowing the first step but have to know deeper.

[Zoomic]

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.

Yes, I agree with that as learning the basics is not enough to become successful. To face losses and commit mistakes is a real experience that all traders have encountered and this gives us more learnings which involves controlling our emotions, mindsets, and testing our determination. Indeed, it was not a guarantee that we could be profitable however, this would enlighten and give us an idea of why we should not take this trading easily but instead, take this as a serious job. Every single mistake that we make certainly incurs losses in return which we need to avoid or at least can be minimized. That is why it is not just knowing the first step but have to know deeper.

Emotional control is a very important for every trader. You can learn all the skills needed to trade and acquaint yourself with all the right information you need to trade effectively but, if  you cannot control your emotions, you can burn down your capital and be left with nothing.  Truly, the basic knowledge of trading is just not enough.

Our emotions can come to play in various ways, thereby making us make silly mistakes that affects us negatively. A trader can out of greed decide to over trade so as to maximise his profits. Over trading has not proven to be effective in all situations. A trader who can overcome greed has solved some of his problems.

In trading, losses are bound to occur. How we react when these losses come matters a lot. If we put in so much emotions when we lose, we should be concerned because it might trigger us to make more silly decisions just to recover our losses. Our emotions can be used in our favour or against us, we just need to apply the right emotions always.

[Rockstarguy]

From all what you have stated every trader needs to exhibit these characters to succeed in trading. Problem most traders normally have in trading is that, they feel they can do without a habit that is required in trading. Trading has rules and most of these has to do with habit that we must obey but most traders find it difficult to obey these rules and expect to get profit in trading. One of the most important habit you can't do without in trading is patience and this has really been a serious challenge for traders.

Many traders just want to make money very fast from trading, they lack understanding to know that trading is all about patience and when their no patience it is easy to lose all you have in trading, but their major concern is to make money . Patience is very important,  it is needed in learning,  it is also needed if you must make profit.  Trading is a skill that beginners needs to learn to understand every rules to get a better trade .

[Ricardo11]

Before trading, he must understand what trading is. He should understand that trading is a means of making a man from rich to poor and from poor to rich. In trading you can either make a lot of profit or you can lose it all. So only trade what you can afford to lose. Because trading will never guarantee you guaranteed profit. And always trade with a good understanding, research the market and make sure then trading, that your chances of losing will be reduced a lot.

[spiker777]

Before trading, he must understand what trading is. He should understand that trading is a means of making a man from rich to poor and from poor to rich. In trading you can either make a lot of profit or you can lose it all. So only trade what you can afford to lose. Because trading will never guarantee you guaranteed profit. And always trade with a good understanding, research the market and make sure then trading, that your chances of losing will be reduced a lot.

You are explaining it like it's gambling, but trading in its actual meaning is much different from gambling unless someone gambles with their money and invests it here and there without doing any research at all. I agree with you that someone who doesn't understand the market or any trading practices will barely be able to get any profit from trading, but the meaning will be different for someone who enters the market only when they know everything.
A person should invest what they can afford to lose only if they are investing in coins or tokens that they know nothing about or are taking a risk, like there are meme coins, where you know that there is no guarantee that you will get something in return for your investment, you will either get a lot of profit or get nothing, but I wouldn't consider that trading, it's just like gambling

[Crypto Library]

Trading is not an easy thing at all. But if you follow the right tips and tricks, it becomes easy to pro on trading. For start trading, you must first learn how to analyze the market, like the technical analysis and the fundamentals analysis.
Be tolerant and patient.  A small gain should be satisfied, not greedy.  If the market conditions are bad, you should refrain from trading. The number of people who do not face loss in trading 5 is less so if they lose they cannot be broken.  If you are a beginner, you should not invest much at first.

[Bobrox]

Before trading, he must understand what trading is. He should understand that trading is a means of making a man from rich to poor and from poor to rich. In trading you can either make a lot of profit or you can lose it all. So only trade what you can afford to lose. Because trading will never guarantee you guaranteed profit. And always trade with a good understanding, research the market and make sure then trading, that your chances of losing will be reduced a lot.

Before trading have knowledge with trading its self, beside with patience and controlling emotion we must understand well with strategies or way how to get consistency profitable in trading. Minimalize with risk is very important in trading, after researching with coins have to invest and we need to prepare some thing unpredictable from coins want to buy getting stop losses feature. In trading beside have target earn much profitable we must have planning to reduce loss and don't scared for stop loss its required.
Most important have to research and analyze market condition early have in support price or still potential with coins want to buy will drop lower price.

[South Park]

Trading is not an easy thing at all. But if you follow the right tips and tricks, it becomes easy to pro on trading. For start trading, you must first learn how to analyze the market, like the technical analysis and the fundamentals analysis.
Be tolerant and patient.  A small gain should be satisfied, not greedy.  If the market conditions are bad, you should refrain from trading. The number of people who do not face loss in trading 5 is less so if they lose they cannot be broken.  If you are a beginner, you should not invest much at first.

The right tips can help you get started but that is really it, you are competing against trading firms, whales, market manipulators and expert traders which trade on their own, and all of those people would not invest the time and money they do to an activity that could be mastered that easily, so anyone that is serious about making money on the markets needs to think about trading as just another profession, since only those that have that mindset have any chance to become successful.

[Asiska02]

All the points you’ve highlighted are good points that need to be taken into caution while in trading. I have experienced that trading requires continuous learning and perfection. You will have to sacrifice your good time, if possible keep sleepless nights in order just to become good at it. The key to success is perfection and having a strategy that works best for you. The day you’re able to unlock that potential in you, you’ll become a profitable trader and congratulations will never seize to keep coming to you always. Trading requires patient to learn and within that period, going for extra time to learn how to control your emotions to the reaction of the market is very important as that will determine the level of confidence you’ll have when placing trade after you’ve done your analysis.