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Author Topic: How to become a successful trader  (Read 338 times)
Emmybit001 (OP)
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May 16, 2024, 09:06:13 PM
 #1

As a successful trader, you should focus on the process instead of the money, because the process is the must important thing for you to get more experience in it, and once you are focus it you never lose your money in trading, so as successful trader you must always be fucus on the process of your trading, for you to get a good profit.
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May 16, 2024, 09:23:57 PM
 #2

Also use the amount of money that you can afford to lose to trade can be the beginning of a trader understanding about what trading is. Trading is very risky and should be seen like gambling though it is not gambling. That will help the trader to know that it is important to use an excellent risk management. Trading should not be seen as a means of making money, but as a means of making an additional money to your source of income if possible, but do not expect much from trading.

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May 16, 2024, 09:53:48 PM
 #3

For you to become a successful trader, make sure to have your own stable job first so you won’t be pressured and force yourself to hit profits in trading. Note that trading is very unpredictable due to its uncertain market, so even if you have predicted some potentials to win your trades, still there won’t be stable guarantees that it’s gonna happen since there could be sudden twist and turns that will change the position of your trades and see them losing at the end.

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May 16, 2024, 09:57:50 PM
 #4

and once you are focus it you never lose your money in trading
Don't say this, the best and successful traders are still losing today.

so as successful trader you must always be fucus on the process of your trading, for you to get a good profit.
No doubt about the focus so that you won't get distracted. But don't make it sound like an easy thing to do.

Trading is a good source of money when you're good at it but in reality, the majority losses as per doing their trades even the experienced ones.



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Rainbot
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May 16, 2024, 10:10:23 PM
 #5

so as successful trader you must always be fucus on the process of your trading, for you to get a good profit.
Another translation of this is that you have to be really more passionate about trading and be interested in it than just only the money you can make. if you are passionate about it even when you are making money you would not want to take a relaxed position but you will still want to improve more on your trading as a trader, but if money is just your focus the moment you start making money from trading there's a chance that you can become a relaxed and forget any need to strive for improvements.

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May 16, 2024, 10:38:30 PM
 #6

As a successful trader, you should focus on the process instead of the money, because the process is the must important thing for you to get more experience in it, and once you are focus it you never lose your money in trading, so as successful trader you must always be fucus on the process of your trading, for you to get a good profit.

It's really hard to come on that conclusion of being a successful trader unless you've proven yourself through riches from profit that you've gained.
Losing money was really painful with trading, and winning a legacy looking to the target that you hit in so many times of patience; that I definitely say successful.
For now, even myself I couldn't say I've been to that level because I couldn't prove myself being lucky enough to be one of the rich guy who came from trading crypto.


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May 16, 2024, 11:01:36 PM
 #7

It's not just trusting the process when trading but also needs psychology and good strategy because if you do it wrong even if you trust the process you will never make any profit.
It is a part of fear and greed if you can't control this emotion it could affect your trading style.

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May 16, 2024, 11:28:49 PM
 #8

It's not just trusting the process when trading but also needs psychology and good strategy because if you do it wrong even if you trust the process you will never make any profit.
It is a part of fear and greed if you can't control this emotion it could affect your trading style.
Trading is not just a game of emotions but most likely a mental game. So if you don’t have the skills and good strategies to win your trades, your faith will not work out. You have to work on your faith as well as enhance your trading psychology and technicalities in trading, otherwise you will easily fall more as a gambler than a successful trader. Don’t just trade to earn, but trade responsibly and appropriately.

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Ndabagi01
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May 16, 2024, 11:40:56 PM
 #9

As a successful trader, you should focus on the process instead of the money, because the process is the must important thing for you to get more experience in it, and once you are focus it you never lose your money in trading, so as successful trader you must always be fucus on the process of your trading, for you to get a good profit.

As a successful trader you said, if I was already successful at trading, that means I have understood the trading market and don’t need to concentrate more on learning but use that knowledge to know how to make more money in my trading. Learning never ends, and even successful traders are always going after new strategies for them to maximize their profits when it comes to trading. Focusing more on the learning process instead of how to make money should be more direct to a newbie that just joined the trading market than saying it to a successful trader.

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May 16, 2024, 11:52:44 PM
 #10

As a successful trader, you should focus on the process instead of the money, because the process is the must important thing for you to get more experience in it, and once you are focus it you never lose your money in trading, so as successful trader you must always be fucus on the process of your trading, for you to get a good profit.
Proof? I mean, don't just spout around saying about being successful in trading without a proof. I don't discriminate really, but the thing is, we all want to know if the one who is giving advice and claiming to be successful is legit. Also,  kindly elaborate on your advice because what you've said is that a trader should focus on the process and not the money. That is true, but how? I mean, can you say it in detail because your statement left us hanging or simply lacked information?

If I were to give advice for a trader to be successful, I wouldn't because I would still not consider myself successful in trading. But if I were to give advice for new traders, I would focus and invest in their knowledge and skills, because that will be their foundation for being successful and profitable traders. It's okay to make mistakes or lose money from trading, but the most important thing is that you will not stop there and instead learn from them.

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May 16, 2024, 11:57:44 PM
 #11

Trading is not just a game of emotions but most likely a mental game. So if you don’t have the skills and good strategies to win your trades, your faith will not work out. You have to work on your faith as well as enhance your trading psychology and technicalities in trading, otherwise you will easily fall more as a gambler than a successful trader. Don’t just trade to earn, but trade responsibly and appropriately.
Be a consistent trader is a must but risking money with lack of skills you shouldn't dive into live trading I've been there and lost a huge amount of my holdings trying my luck in trading until just I discovered that any coins out there are dominated by BTC. That is why I always recommend newbie traders to keep practicing on paper money or demo accounts to build confidence and to learn how crypto works.
Lack of knowledge in trading its totally gamble the thing that always works to me think as a newbie trader and think where they place their SL and that should be your entry point.

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May 17, 2024, 12:27:27 AM
 #12

As a successful trader, you should focus on the process instead of the money, because the process is the must important thing for you to get more experience in it, and once you are focus it you never lose your money in trading, so as successful trader you must always be fucus on the process of your trading, for you to get a good profit.
Success is not measured by means of how big you earn but it measures how responsible you are as a trader.
Now we are earning a lump sum of money but if our greediness is not controlled, sooner this will also bring us down and lose everything. Success can be determined not by today but by how we bring it after many years of doing it consistently.
 - fund management
 - self-control
 - long-term plan
 - consistency

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May 17, 2024, 12:53:17 AM
 #13

As a successful trader, you should focus on the process instead of the money, because the process is the must important thing for you to get more experience in it, and once you are focus it you never lose your money in trading, so as successful trader you must always be fucus on the process of your trading, for you to get a good profit.
The process can be one to failure, loss or one to success and profit. A successful trader firstly need to succeed to secure his original trading fund, avoid to lose it or minimize loss of original fund. It relates to risk management and also greed, patience to wait for safer and better entries that help to reduce risk, severity of possible loss and increase chance to get profit.

You can get good profit with one or some tradings but if you don't have safe risk and capital management like I share, later with one or some failed tradings, you will lose your temporary profit and even worse lose most of your original trading fund.

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Frankolala
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May 17, 2024, 02:34:55 PM
 #14

As a successful trader, you should focus on the process instead of the money, because the process is the must important thing for you to get more experience in it.
You don't need to advise a successful trader because he has already come up with his own strategy, which made him to become successful, if not he will not be successful. So you should address people that are new to trading or that thinks trading is a get rich quick scheme.

once you are focus it you never lose your money in trading, so as successful trader you must always be fucus on the process of your trading, for you to get a good profit.
Trading is like gambling which is all about profit and loss, but not exactly gambling. This is because no matter how successful you are in trading, you are still prone to losses especially when you make the wrong prediction because the market if of uncertainties. The difference between a successful trader and other traders is their ability to manage their risk and emotions in the market.

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May 17, 2024, 02:43:22 PM
 #15

As a successful trader, you should focus on the process instead of the money, because the process is the must important thing for you to get more experience in it, and once you are focus it you never lose your money in trading, so as successful trader you must always be fucus on the process of your trading, for you to get a good profit.
Anybody can write on how to become a successful trader even people who are not rich write books on how to get rich so it means that even with the regular tips that are repeated in different writers there are some tips that are exclusive.
The tips to becoming a successful trader are so much and although there are some general rules to be a successful trader, but if you have a close discussion with some really successful traders there are some exclusive rules that they will let you know some of which they found out from personal experience.
The exclusive tips and rules are as important as the general tips for success.

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CageMabok
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May 17, 2024, 03:07:17 PM
 #16

As a successful trader, you should focus on the process instead of the money, because the process is the must important thing for you to get more experience in it, and once you are focus it you never lose your money in trading, so as successful trader you must always be fucus on the process of your trading, for you to get a good profit.
I think that's not all that every trader needs to pay attention to if they want to be successful as a trader in the market, but market conditions and certain moments that can influence the market to be better also need to be paid attention to by every trader. Because when traders can take advantage of moments like that without losing focus, as you said, they can also be successful in the market, although every trader must also realize that achieving success always requires a process that is not easy because the market is also a place that has risk.

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May 17, 2024, 03:14:33 PM
 #17

As a successful trader, you should focus on the process instead of the money, because the process is the must important thing for you to get more experience in it, and once you are focus it you never lose your money in trading, so as successful trader you must always be fucus on the process of your trading, for you to get a good profit.
If you want to be successful in trading then you must first acquire enough knowledge about trading and then you have to invest in trading. Many times it is seen that without gaining enough knowledge in the field of trading, he loses a huge amount of money while trading without understanding it well, so he should not make such a mistake. In the case of trading, we must always have a long-term plan. If we can keep a long-term plan and check the market and trade with time, we will certainly get enough success through this trading. Many times it is seen that we become very impatient in trading, we should not be impatient, we should always be patient in trading.

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May 17, 2024, 03:26:22 PM
 #18

As a successful trader, you should focus on the process instead of the money, because the process is the must important thing for you to get more experience in it, and once you are focus it you never lose your money in trading, so as successful trader you must always be fucus on the process of your trading, for you to get a good profit.

I will also make this as an addition warning that you shouldn't borrow money to trade, you should be able to perform trade base on the way you can afford for doing that, don't also trade when you think you have no sound knowledge on how to speculate and read the market chart, you will also have to understand the use of the indicators and ho they all serve their purpose while performing trades.



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Rainbot
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May 17, 2024, 03:41:14 PM
 #19

As a successful trader, you should focus on the process instead of the money, because the process is the must important thing for you to get more experience in it, and once you are focus it you never lose your money in trading, so as successful trader you must always be fucus on the process of your trading, for you to get a good profit.
It's not just the process, of course money is also involved there, if you don't have capital and you are already equipped with knowledge about trading, how do you want to try it, and be successful in trading, This is all part of trading in the market. The main thing is that you must have income every month from your job. Indeed, success in any case is of course a process involved.

What do you say, a successful trader will not lose their money in trading? There will always be losses, indeed the possibility of losing all their money is very small because they have been in the process for quite a long time in this case.


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May 17, 2024, 03:56:15 PM
 #20

As a successful trader, you should focus on the process instead of the money, because the process is the must important thing for you to get more experience in it, and once you are focus it you never lose your money in trading, so as successful trader you must always be fucus on the process of your trading, for you to get a good profit.

     -      Just start with basic learning and don't stop learning crypto trading. Always learn from your mistakes if ever you see something wrong with the discretion you used in trading. Find out which indicator tools will be easy for you to use so you can make a proper technical or fundamental analysis.

And you should not be greedy; instead, be disciplined, have self-control, and know how to properly control your emotions as a trader. and you should also know what kind of investor you are.

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