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Author Topic: How to become a successful trader  (Read 342 times)
Strongkored
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May 21, 2024, 04:47:25 AM
 #41

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.
Money is of course important, because with money as capital you will get profits. Experience or knowledge can be gained by trading using a demo account but the pressure is different, so money is also important.
Use money that you can afford to lose, so trade directly with real money instead of just using a demo account, so you may lose money but knowledge increases and slowly knowledge is used to gain profits in the next trade.

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May 21, 2024, 06:12:20 AM
Merited by Fatunad (1)
 #42

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.
Money is of course important, because with money as capital you will get profits. Experience or knowledge can be gained by trading using a demo account but the pressure is different, so money is also important.
Use money that you can afford to lose, so trade directly with real money instead of just using a demo account, so you may lose money but knowledge increases and slowly knowledge is used to gain profits in the next trade.
On the moment that you are really just that someone who doesnt really have that much money or really just have that limited on which means that you would really be having that consideration on having that kind
demo trading on which its not really that bad because when starting up then it would really helpful because you would really be having that kind of exercise on which its normal for a newbie to be doing.
There are really just that those people who are really that wanting to make engagement directly with the real deal or thing on which making use of their real money without even considering on how much they have learned
all the things that they've been encountering. There are individuals who would really be that not minding about demo and made out live trading because they dont like on not to earn some real money.

Success is something that you would really be needing to consider on what are the things that you do need to be done for you to achieve that success which it would be
needing that adjustment and learning on the experiences that you would be able to handle out.

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May 21, 2024, 06:31:44 AM
 #43

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.
Money is of course important, because with money as capital you will get profits. Experience or knowledge can be gained by trading using a demo account but the pressure is different, so money is also important.
Use money that you can afford to lose, so trade directly with real money instead of just using a demo account, so you may lose money but knowledge increases and slowly knowledge is used to gain profits in the next trade.
However, experience is the main thing in achieving trading success, from experience we can apply the theory that we have previously done, so that from this we will feel the difficulties that can be faced and how to solve these problems. Many traders have minimal experience and immediately jump into real trading in the hope of making easy money, and in the end they regret it

gunhell16
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May 21, 2024, 07:59:23 AM
 #44

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 believe that in order for us to get what we want, we should really focus on that thing. It's easy to think that we want to succeed, but it's hard to do because of the succeeding things we'll go through; in short, it's not easy to reach and get.

Here we can measure how long we will stand or endure as we reach the dreams we want in trading. The subject of crypto trading is still very new; honestly, it is not easy to learn, and the worst part is that there is no shortcut here. The question is, Are you ready? Are you willing to sacrifice? then you must have a source of income before you enter this field. Or if there is nothing, you should be able to do.

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May 21, 2024, 08:52:01 AM
 #45

Every job, whatever it is, has its own risks, it depends on what we want, so in the process we must first understand what we are doing and what we are working on, so that it doesn't make us fail in the process because we don't know what to do. what we are doing, because we don't really understand what we are doing, so understand it first before making a decision to reduce risks that we don't want, in trading what we have to apply is to be consistent in developing our business which we have worked hard to start from the ground up. to become what it is now, and the most important thing is our financial management, don't let us underestimate financial management which will result in bankruptcy.
I agree that learning is the most important part, if you do learn how to do better with time, then you are going to be doing fine, I believe that we are going to face some trouble if we have no idea what we want, we should realize that what we require isn't all that complicated and sometimes we should learn that things aren't as easy looking as we think.

The reality is that we are going to be doing something as well as we hope we would, but that doesn't mean that it will be simple. Easy and simple are different, difficult and hard are different. Trading is hard but not difficult, it's hard because it takes time to learn and requires patience to be good but the path to be a good trader is simple and not that complicated at all.

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May 21, 2024, 10:48:15 AM
 #46

However, experience is the main thing in achieving trading success, from experience we can apply the theory that we have previously done, so that from this we will feel the difficulties that can be faced and how to solve these problems.
Theory needs to be proven in trading because if it won't be executed, that theory will remain a theory and won't prove anything.

Many traders have minimal experience and immediately jump into real trading in the hope of making easy money, and in the end they regret it
That's okay, as long as they can take the risk and won't give up too quickly. They should have long term plans being a trader because profit from doing it, won't just come out overnight and the learning you'll get from your actual experience will be paid off.



 

 

 

 

 

 


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May 21, 2024, 11:19:59 AM
 #47

Many traders have minimal experience and immediately jump into real trading in the hope of making easy money, and in the end they regret it
That's okay, as long as they can take the risk and won't give up too quickly. They should have long term plans being a trader because profit from doing it, won't just come out overnight and the learning you'll get from your actual experience will be paid off.
Basically, I completely agree with you. Unfortunately, it is usually the case that newcomers to the market immediately burn through all their capital and classic short-circuit reactions, such as pouring capital into poorly performing trades, then catapult them out of the market.

Very few newcomers actually have the incentive and the necessary assertiveness to stay on the ball until their experience level is high enough. My tip for newcomers is therefore always to start with paper trades first and to continue doing so for at least 3 months. This way you avoid the classic beginner's mistakes, learn a lot about yourself and your reactions in stressful situations and can then use this knowledge to actually trade successfully.

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May 21, 2024, 12:31:34 PM
 #48

However, experience is the main thing in achieving trading success, from experience we can apply the theory that we have previously done, so that from this we will feel the difficulties that can be faced and how to solve these problems. Many traders have minimal experience and immediately jump into real trading in the hope of making easy money, and in the end they regret it
We can also learns from other traders experienced and gets the good thing from them so we can uses it for ourselves. We can learns from their difficulties and trying to search how to finds out a way to solves the difficulties. From other people experienced, we can gets a lesson that we can apply to ourselves which can helps us to improves our skills in trading. We can learns from their analysis and search from the other sources that can also improve our analysis becomes better. But we must realizes that will needs time before we can be a successful trader and we must enjoy the process.

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May 21, 2024, 12:59:03 PM
 #49

Successful traders require a blend of education, discipline, and strategy. Start by thoroughly understanding the markets and developing a solid trading plan. Practice risk management to protect your capital and continuously analyze and adapt your strategy based on performance. Patience and consistency are key to long-term success.
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May 21, 2024, 01:26:02 PM
 #50

If you want to become a successful trader, you must be able to learn more than other people. The more you learn and understand it, the greater your chance of making a profit. You can focus on trading and analyze well to make a profit. But you have to know that becoming a successful trader requires many things and a long process, so this makes many people fail to become successful traders. They want to make profits quickly and don't want to learn about trading so they will encounter many difficulties.
Why what do you think of other people? Lazy? There are but not all of them. And what about those who are successful already? I don't think he can surpass their learnings just like that. Dedication in trading is even better but not all can do that because they also have their own obligations in life. When we are starting, it's fine to not think and pressure our selves of becoming a successful trader because like you said, it is not easy and even if we are already good at trading, the real definition of a successful trader is still different or far away from it.

Finally, trading is not gambling that you can just place a bet and still expect to win even without having an understanding in the game. If your approaches are meaningful in terms of analysis then you can easily hit success in crypto trading.

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May 21, 2024, 03:00:55 PM
 #51

Focusing on the process will make us have basic skills in trading. A trader's success depends on a combination of technical skills and fundamental analysis and this will be achieved if we focus on the process, this takes quite a long time so we have to be patient. This analytical ability will help a trader to determine the most appropriate decisions rationally, not just based on feelings which have a high possibility of error. This does require patience and difficult emotional control. A successful trader certainly has a lot of experience in terms of knowledge and experience.

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May 21, 2024, 03:14:52 PM
 #52

Successful traders require a blend of education, discipline, and strategy. Start by thoroughly understanding the markets and developing a solid trading plan. Practice risk management to protect your capital and continuously analyze and adapt your strategy based on performance. Patience and consistency are key to long-term success.
those are good to have background for trader.
usually it just requires knowledge and capital to succeed, what make trading difficult is probably the capital that it requires many people afraid of losing the capital so they make worst decision.
education in this case is not really needed but its always good to have you know having education and all.
moreover, what is the definition of successful trader here means anyway.
it could be some people with good career doing trading as their side job and they could easily be included in the category of successful trader since they are well off and still trading anyway.

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May 21, 2024, 03:36:24 PM
 #53

Being good and being a teacher are different, a lot of friends that I have who are great at trading can't explain what they are doing if their life depended on it, so most traders haven o idea. Some try, and some do teach others and they do a good job, but not all and most of them are just doing things because their brain is wired in a way that understands and grasps the inner workings of a market which makes them be able to trade very well.

This is quite good and I do applaud them for their talent and skills, but that doesn't mean all of us can be like that. Not being able to trade is fine, you can't play basketball like Lebron James neither, you can go ahead and pick up a ball and shoot, it takes like maybe 15 minutes to go to the park with hoop in my hood, can I be able to play like him? Of course not, so why would I worry if I can't trade like professionals then?

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May 21, 2024, 04:39:46 PM
 #54

Focusing on the process will make us have basic skills in trading. A trader's success depends on a combination of technical skills and fundamental analysis and this will be achieved if we focus on the process, this takes quite a long time so we have to be patient. This analytical ability will help a trader to determine the most appropriate decisions rationally, not just based on feelings which have a high possibility of error. This does require patience and difficult emotional control. A successful trader certainly has a lot of experience in terms of knowledge and experience.

Hmm, interesting well success and failure contain different factors ranging from your timeline, your mental level, your control over the decisions, your daily life etc etc. Hmm in every trade there is the contribution of 10% luck, 30% analysis, 40% discipline, and 20% emotional control haha this is my personal theory to execute a trade, hmm we can categorize some other factors under these terms as well. 

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May 21, 2024, 06:11:18 PM
 #55

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 in trading is learning. Learning is very important in trading and it can never be taking for granted. Learning makes trading outcomes to be successful and interesting. But it is so unfortunate that most beginners find learning boring and sees it as not process for trading . Learning being the process of trading is more important than money, because without the understanding of trading you can lose all the money you have put in trading. When it comes to trading money is the last thing to think about because when money is put as the priority and the main aim you would lose it all.

Learning is the principal thing in trading and it is not just about learning about trading strategies but also to understand and practice some habit that can make you to be successful in your trading, that's is why beginners needs to dedicate their time to learn because it has to do with the trading ideas and the characters that are involved in trading to be a successful trader. Their is no succcess in trading without having the right knowledge about trading.

R


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May 21, 2024, 06:39:57 PM
 #56

Focusing on the process will make us have basic skills in trading. A trader's success depends on a combination of technical skills and fundamental analysis and this will be achieved if we focus on the process, this takes quite a long time so we have to be patient. This analytical ability will help a trader to determine the most appropriate decisions rationally, not just based on feelings which have a high possibility of error. This does require patience and difficult emotional control. A successful trader certainly has a lot of experience in terms of knowledge and experience.
Even though these are the basics to becoming a successful trader most persons still feel that trading is so easy the way most influencers make it to, I have seen alot of traders online that flaunt their success stories and sometimes it just baffles me to actually see if these guys actually legit because I know trading takes alot of time and even years to develop that skills that can then yield profits for you during your trading sessions but also this sweet quick stories pushes alot of traders to do rubbish and then lose their funds especially the new ones.

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May 21, 2024, 06:52:24 PM
 #57

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.
that's how it should be. We prioritize first exploring insight and experience in trading itself. enjoy the process and stay focused on the process itself. The most important thing is that we can be disciplined in learning everything from the start. Don't rush to get big profits in the near future because this will only put us at greater risk of experiencing greater losses. There are many things to learn. In fact, it starts from the management or financial management itself, which we allocate for trading capital itself. And after that we also have to be good at managing our emotions or psychology in trading itself. Because a trader's biggest enemy is actually uncontrolled emotions. Therefore, emotional management must be done and must be learned from the start. If not, we will only become traders who panic easily and become greedy. and fear and greed are two things that make a trader unsuccessful in trading. I personally may not be very good at trading. but I keep learning and learning. And we must be aware of our own limitations. And never force yourself. For example, in terms of capital, we can only use money that we can afford if we have to suffer a loss.

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May 21, 2024, 10:18:02 PM
 #58

Many traders have minimal experience and immediately jump into real trading in the hope of making easy money, and in the end they regret it
That's okay, as long as they can take the risk and won't give up too quickly. They should have long term plans being a trader because profit from doing it, won't just come out overnight and the learning you'll get from your actual experience will be paid off.
Basically, I completely agree with you. Unfortunately, it is usually the case that newcomers to the market immediately burn through all their capital and classic short-circuit reactions, such as pouring capital into poorly performing trades, then catapult them out of the market.

Very few newcomers actually have the incentive and the necessary assertiveness to stay on the ball until their experience level is high enough. My tip for newcomers is therefore always to start with paper trades first and to continue doing so for at least 3 months. This way you avoid the classic beginner's mistakes, learn a lot about yourself and your reactions in stressful situations and can then use this knowledge to actually trade successfully.
They think that crypto is a classy way of earning money and becoming rich overnight. There's always the thought from the newcomers and sees crypto people have become rich doing that. They don't know that it's the same for everybody, you need to be knowledgeable as a trader and you need to be patient as an investor. So either of the two, they don't come easily and they have to grind all of their might until they reach to that point that they can make the actual easy money from the knowledge they have as a trader.



 

 

 

 

 

 


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May 21, 2024, 11:48:27 PM
 #59

Even though these are the basics to becoming a successful trader most persons still feel that trading is so easy the way most influencers make it to, I have seen alot of traders online that flaunt their success stories and sometimes it just baffles me to actually see if these guys actually legit because I know trading takes alot of time and even years to develop that skills that can then yield profits for you during your trading sessions but also this sweet quick stories pushes alot of traders to do rubbish and then lose their funds especially the new ones.
Trading is easy for those who have a lot of money and don't really need money in the real world so that when their money is trapped in the market it doesn't make them feel stressed. Many of them fail to become traders because they often panic when they see coin prices collapse and sometimes buy the wrong coins and even the trading method they use is very risky. One of them is the future trading method which can eliminate assets quickly.

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gunhell16
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May 22, 2024, 05:23:37 AM
 #60

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.
Money is of course important, because with money as capital you will get profits. Experience or knowledge can be gained by trading using a demo account but the pressure is different, so money is also important.
Use money that you can afford to lose, so trade directly with real money instead of just using a demo account, so you may lose money but knowledge increases and slowly knowledge is used to gain profits in the next trade.

Having money is an advantage, so we can easily grow an investment opportunity if we know it will cause growth in the capital that we have. Of course, it is necessary to be wise in choosing
the investment that we choose to make.

As long as we are always ready for the investment we will make, we must be willing to take risks in any investment that we allocate our capital to.
That's just what we always do as capitalists, right?

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