What traders must know

[_BlackStar]

-snip-

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.

The purpose of the analysis is to find out when is the right time to make an entry and determine when is the right time to sell it again. Trading without risk is impossible - but traders can minimize risk as long as they have a good strategy to implement.

I only remember one thing - DCA on any trade is a good strategy. You should never spend your entire budget on a single trade without a reserve budget - you will lose the opportunity to accumulate which will ultimately result in you having to wait for the price to recover. So - analysis and strategy are equally important in trading, both will make you make profits even though there is a risk of loss.

[Sanitough]

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.

Trading itself is risky, so if you add leverage into trading, that will make it even more risky. That makes some traders never end up with profitable trades since they don’t trade the easier way but it makes it more complicated instead with trading with leverage. Although some may gained promising profits using leverage, but majority are still unfortunate and could not manage well leverage in trading.

The only goal in trading is profits, so if you think you are already seeing potential profits when you are trading, regardless of its amount, just settle on it, don’t pressure yourself by following the trend in leverage trading. We really don’t know if they are actually gaining real profits from it.

[MusaMohamed]

The purpose of the analysis is to find out when is the right time to make an entry and determine when is the right time to sell it again. Trading without risk is impossible - but traders can minimize risk as long as they have a good strategy to implement.

Time is important but it's hard to time the market accurately. We usually are late against the market and don't join around bottom but after bottom is confirmed and price already rallies a lot from bottom. We usually hesitate to take profit around peaks and when we decide to take profit, price already drop too much from peaks.

I only remember one thing - DCA on any trade is a good strategy. You should never spend your entire budget on a single trade without a reserve budget - you will lose the opportunity to accumulate which will ultimately result in you having to wait for the price to recover. So - analysis and strategy are equally important in trading, both will make you make profits even though there is a risk of loss.

DCA is good but I see it is more related to investment. DCA for investment is more helpful than DCA for trading. Trading is for short term and investment is for long term. So DCA requires long term accumulation and plan for it, so this strategy matches with investment than trading.

Trading itself is risky, so if you add leverage into trading, that will make it even more risky. That makes some traders never end up with profitable trades since they don’t trade the easier way but it makes it more complicated instead with trading with leverage. Although some may gained promising profits using leverage, but majority are still unfortunate and could not manage well leverage in trading.

Touching leverages is a start of nightmare in trading. Because traders can not make accurate technical analyses and decisions to open their positions, nightmare starts from bad decisions and hesitation to close bad positions even with draw or a little bit loss.

Letting bad positions open with time, a trader will not have good sleep and nightmare, forced liquidations can come anytime.

[Yamifoud]

Everything you've said OP are the vital things to learn. Unfortunately, can't forced everyone to do this and take this seriously as they don't feel yet the hardships until they will found it how difficult it was when suffering losses.

We've see a lot of newbies are trading and thinking that they could earn easily even without knowledge but the results blown out their mind and realized their mistakes from ignoring these things.

Trading is not just money but in order to succeed, we also need to deal our emotions and greed as these are the common reasons why many traders fails.

[South Park]

Everything you've said OP are the vital things to learn. Unfortunately, can't forced everyone to do this and take this seriously as they don't feel yet the hardships until they will found it how difficult it was when suffering losses.

We've see a lot of newbies are trading and thinking that they could earn easily even without knowledge but the results blown out their mind and realized their mistakes from ignoring these things.

Trading is not just money but in order to succeed, we also need to deal our emotions and greed as these are the common reasons why many traders fails.

Those newbies believe the lies told by influencers, so in a way I can understand the source of their mistaken beliefs and confusion once they get to know the truth, however they should have known better anyway, because once you think about the markets as a competition in which you are trying to best your opponents with your skills, it becomes clear that the only way to do this is by being better than most traders out there, and this by definition cannot be easy at all.

[2Pizza410000BTC]

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.

OP all the trading strategies you have mentioned here if a trader follows all these trading strategies and trades then he will be successful in trading. Among all your trading strategies you need to control greed and emotions. Those who can control greed and emotions are most likely to be more successful on the trading platform. Because greed and passion harm a person the most. So I advise all traders to control this greed and emotion.

[benalexis12]

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.

The question is, do you really want to be a crypto trader or not? Second, you must know what kind of trader you are. Are you a short-term or long-term trader? Third, always start with the basics. Because everyone who became an expert started with the basics.

You actually have a lot to consider when starting here in the field of crypto trading. You must expect that it is not an easy lesson; you must have perseverance, determination, dedication, and above all, passion, and when you have all of the above, it is not unlikely that you will eventually achieve what you seek to earn good money here in the future.

[Hamphser]

~

The question is, do you really want to be a crypto trader or not? Second, you must know what kind of trader you are. Are you a short-term or long-term trader? Third, always start with the basics. Because everyone who became an expert started with the basics.

You actually have a lot to consider when starting here in the field of crypto trading. You must expect that it is not an easy lesson; you must have perseverance, determination, dedication, and above all, passion, and when you have all of the above, it is not unlikely that you will eventually achieve what you seek to earn good money here in the future.

Agree on this one..

When it comes to career choice then you would really be basically be trying out to know about the basics on which it would really be that normal that you would really be needing up to learn up with those things
first and on the time that you would be having those kind of learning then applying it out into that actual situation and the other learnings could really be learnt out along the way on which
into those things that been mentioned above on which it is really that mostly talking about emotion handling and control and other correlated things.

You would really be able to know on the things that you would really be able to know on the  time that you are really engaging to it. The experience you do aim and gain
will surely be that something that will be helpful into your future trades.

[|MINER|]

Trading is very difficult but if you learn the right strategy you can trade in the right way.  If you want to trade first of all you have to learn to be patient.  Because the trading market is improving or declining.  No one can succeed in trading without patience.  Next you need to know about technical and fundamental analysis.  Because you will not know when to invest and when not to invest if you do not analyze the market properly.  Also investing in alt coin and meme coin should be satisfied with low profit.  In this case, there is a possibility of losing everything in the hope of making a lot of profit.  You should invest by understanding the market. If the market is bad, you should refrain from investing.

[Miles2006]

Trading has a lot of strategy to succeed and different majors, all what a newly trader need to know is learning the basics terms of trade and follow those steps. All what you mentioned are part of the majors and the common one is patience, without exhibiting patience when trading you might end up quitting so early. I believe every successful trader today sacrificed a lot so newly traders should always have this mindset of learning.

[Marvelman]

Trading has a lot of strategy to succeed and different majors, all what a newly trader need to know is learning the basics terms of trade and follow those steps. All what you mentioned are part of the majors and the common one is patience, without exhibiting patience when trading you might end up quitting so early. I believe every successful trader today sacrificed a lot so newly traders should always have this mindset of learning.

I don't really agree with this. Trading ain't no walk in the park, that's for sure.  It takes some serious patience and grit to make it in this game.  Sure, you gotta learn the basics and follow the steps, but it ain't as easy as just dodging some horns in a rodeo.  Cutting through the noise and hype new traders need a good dose of reality before jumping in and  i mean, you can read all the books and watch all the YouTube gurus, but that dont make you wise.  You gotta take it slow, start small and think long-term if you wanna stand a chance.  Respect the beast, control your emotions, and keep expectations real - that's my advice to any greenhorn looking to saddle up on Wall Street.  Ain't nothing easy about it, but with some wisdom and patience you just might make it out the other side.

[kentrolla]

Trading is very difficult but if you learn the right strategy you can trade in the right way.  If you want to trade first of all you have to learn to be patient.  Because the trading market is improving or declining.  No one can succeed in trading without patience.  Next you need to know about technical and fundamental analysis.  Because you will not know when to invest and when not to invest if you do not analyze the market properly.  Also investing in alt coin and meme coin should be satisfied with low profit.  In this case, there is a possibility of losing everything in the hope of making a lot of profit.  You should invest by understanding the market. If the market is bad, you should refrain from investing.

The most important factor is missing, as everyone wants to become rich through trading but they don't have patience and in hurry they end up taking wrong decisions thus losing it and lack of patience is the key reason why we have only few successful traders. Apart from patience the traders needs to test their strategies with previous month's datas and then choose the winning strategy.

[Kelvinid]

Trading has a lot of strategy to succeed and different majors, all what a newly trader need to know is learning the basics terms of trade and follow those steps. All what you mentioned are part of the majors and the common one is patience, without exhibiting patience when trading you might end up quitting so early. I believe every successful trader today sacrificed a lot so newly traders should always have this mindset of learning.

I don't really agree with this. Trading ain't no walk in the park, that's for sure.  It takes some serious patience and grit to make it in this game.  Sure, you gotta learn the basics and follow the steps, but it ain't as easy as just dodging some horns in a rodeo.  Cutting through the noise and hype new traders need a good dose of reality before jumping in and  i mean, you can read all the books and watch all the YouTube gurus, but that dont make you wise.  You gotta take it slow, start small and think long-term if you wanna stand a chance.  Respect the beast, control your emotions, and keep expectations real - that's my advice to any greenhorn looking to saddle up on Wall Street.  Ain't nothing easy about it, but with some wisdom and patience you just might make it out the other side.

Because it was a different situation in actual than those tutorial videos we see and books we read. Perhaps, we have seen some traders become successful but these people can't make someone become like them because of some differences --decision-making, market analysis, and individual behavior. Knowing the basics is just a stepping stone of knowing more about trading and about the market. And it only just means that it was not enough to be on top and reach our goal. What we have to do is to grind more, spend more in knowing the market, find effective strategies and the last one is having self-confidence. Doing this won't be done in weeks, it can be several months of experience or even years. Yes, it needs patience...

[bettercrypto]

Doing trading is not easy; it takes time to set aside for it; there are no shortcuts; everyone has to go through the basics first. And there is no need to hurry, because the capital you will use for trading here in cryptocurrency or bitcoin may be ignored immediately.

Just don't give up; continue what you started here in the crypto space. I also studied it for several months, and I did not immediately understand and get the meaning of studying it here in the field of trading in the crypto business.

[IvugeoEvolutionCoin]

The most important factor is missing, as everyone wants to become rich through trading but they don't have patience and in hurry they end up taking wrong decisions thus losing it and lack of patience is the key reason why we have only few successful traders. Apart from patience the traders needs to test their strategies with previous month's datas and then choose the winning strategy.

Trading is not for everyone I think trading is like gambling with a very cold brain.Those who are not patient should stay away from trading as much as possible. Most of the times newbies make mistakes in trading without having any idea about trading and all the money involved.Missing.Trading is not as easy as everyone thinks, so we need to trade with right decision at right time without making any wrong decision.

[GreatArkansas]

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;
(...)

I don't see the risk management from the list.
For me, having risk management is one of the most important when you do trading. Having risk management will help you to manage your capital, and will help you to maximize your profits while minimizing your losses.

And also the capital preservation because the more you stay longer in the market, the more trades you can do then the more profits you can generate.

[$weetne$$]

Doing trading is not easy; it takes time to set aside for it; there are no shortcuts; everyone has to go through the basics first. And there is no need to hurry, because the capital you will use for trading here in cryptocurrency or bitcoin may be ignored immediately.

There are shortcuts in trading, you can give your money to someone to trade and give you profis, it works for some individuals as they make money without much efforts but this shortcut doesn't work for others because they might have being deceived by a scammer or the person they gave the money was lying and doesn't have a good trading record to give you profits always. You can also use signals channels too to receive trading signals and make profits without analyzing the market yourself and it saves you alot of time if you're an occasional traders but you won't be getting any experience and you cannot be certain that the trading signals are correct and they'll make you profits therefore shortcuts aren't good ways of trading but learning how to trade individually is the best.

[Zoomic]

Doing trading is not easy; it takes time to set aside for it; there are no shortcuts; everyone has to go through the basics first. And there is no need to hurry, because the capital you will use for trading here in cryptocurrency or bitcoin may be ignored immediately.

There are shortcuts in trading, you can give your money to someone to trade and give you profis, it works for some individuals as they make money without much efforts but this shortcut doesn't work for others because they might have being deceived by a scammer or the person they gave the money was lying and doesn't have a good trading record to give you profits always. You can also use signals channels too to receive trading signals and make profits without analyzing the market yourself and it saves you alot of time if you're an occasional traders but you won't be getting any experience and you cannot be certain that the trading signals are correct and they'll make you profits therefore shortcuts aren't good ways of trading but learning how to trade individually is the best.

This "short cut" does not in anyway guarantee success at the end. It's just like providing capital for others to do business on your behalf. This method reliefs the person providing the capital the stress of trading by himself but when losses come, he will still feel the impact. I do not see this as a trading shortcuts because the trader who is actually doing the job still has to show high level of competence to be able to arrive at a profit. No matter the strategy a trader intends to use inorder to lessen his burden and emotional stress, a good knowledge of professional skills is needed to trade effectively. Shortcuts are not reliable, rather they will generate more losses than profits 

[snowpega]

<snip>

You have really mentioned good point I would like to explain each of them well, Let's talk about patience so if the trader does not have patience he/she has to face some bad impacts on his/her trading journey. Traders should have patience. Leverage... I do not like trading in leverage because it has a very high risk to the trader funds it is just like gambling, i also avoid leverage trading due to some of my personal preferences. that is why I would not like to share any opinion over this. hmm 3rd one is also good point. A trader should have control over his/her emotions many trader starts to make some impulsive decisions being greedy so traders should have control over his/her emotions.

besides this Technical analysis and fundamental analysis are important as it can help you to predict the market condition but the market does not always work on these fundamentals because the market sometimes moves so unexpectedly. Your last point sounds like Do your own research which every trader should do before following any other traders signal we should not depend solely on other traders signals we should learn to do our own research which may help us to reduce the risk on the trades.

[Bushdark]

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.

Understanding the fundamentals analysis is very important to us as trader so that we can make fast profits from the market.
Discipline is another tool that can help us to make money from the market through trading and doing other necessities things that are important in the market. Ifnwe want to keep making money from the market, we need to prepare well so that we can make good moe y from trading and others things we could keep doing to make money from the market.