Important Things I Wish I Had Knew Before I Started Trading

[shinratensei_]

3. Trading part-time may yield greater results

Could really relate with this one, trading is all about waiting for the right time, a prime example is longing when BTC was around $50k and possibly shorting when it's reaching its peak and to get this kind of opportunity is simply by just waiting for the right time, with doing trading part time, we more likely will be waiting for the right time since it's not our main job anyway and will yield better result in the end.

If i had been so fixated on trying to catch the dips around $55k or $59k when it was dumping because trading is my main job i'd be in loss when it hits $50k and possibility liquidated, good thing that I don't really put too much attention to the market and only put some alarm in case price went so deep it become good buy.

best way of making money through trading is through patiences.

[AmoreJaz]

This is one of my common mistakes that I didn't make because I was moving from one trading strategy to another and looking for the holy grail. A magical trading strategy and indicator that will give me guaranteed profit. And the tendency is that we will try many trading strategies that we can find on the internet that are new indicators that are profitable, and if they are not profitable, we will look for something new.

Such an indicator does not exist. Indicators only indicate the movement possibility but does not confirm it. 50% cases it goes as the indicator goes but in 50% cases it might not. So this is not an exact science but a way or predicting the future.

Strategies dont need to change often. From what I have seen, stick to buying low selling high and setting stop losses. These three things if timed and executed properly will save a lot of money and allow you to make profit in between.

Along with this if you focus only on the big names preferably bitcoin you are more likely to profit.

There is no such thing as path to guaranteed profit. You need to update yourself with what's going on with the particular project you are interested in. As they vary from one project to another, you need to keep up with what's happening to their developments and their plans. Some projects will abandon their platform without warning, so you need to be cautious on how you are allotting your budget to this type of volatile investment.

[wxa7115]

There is no such thing as path to guaranteed profit. You need to update yourself with what's going on with the particular project you are interested in. As they vary from one project to another, you need to keep up with what's happening to their developments and their plans. Some projects will abandon their platform without warning, so you need to be cautious on how you are allotting your budget to this type of volatile investment.

If someone is willing to take their chances with altcoins then they need to keep the budget allotted to them at a very low level.

Because most altcoins will show a performance that is nowhere near what people expect, and if you invest all your money in them, then your losses will be just as big, but if instead you only use a small amount of money, the rest of your money will be safe and you will discover that trading is not really for you.

[Sebas.tian]

Learning crypto trading is very important to new traders in the community, because it will open their eyes to so many things they think are very difficult for them to understand in trading, but if you achieve the skills of crypto trading, it will make you to be among the income earner in the market. Using one strategy to trade your coins, it will allow you to concentrate to favourable market than those traders using many strategies that will make them not to focus to the particular strategy that will bring huge amount of income at the end. Never you regret anytime you discovered your mistakes, which you can still turn to do the right thing that will make you to be confident in your trading, because many have loss their capital in trading because they refused to correct their errors before embarking on the trading.

[Adbitco]

On average, traders know a lot about the theory to be able to be successful as traders, but most of them fail to apply what they already know, so they end up losing, so sometimes what we know before trading cannot completely guarantee success because the most important thing is to apply the knowledge we know consistently to be able to become successful traders who make a profit.

Sometimes market varies from you what they knows so as trader who is technically inclined should be able to know that when market changes and moves towards another direction they don't understand they have to apply the next strategy to make profits from every single market, and of course most newbies trade can't factor that out because they are so carried away by the market waves would be seeking for a means to secure profits while those who knows what to do does it immediately and make profits from every single move.

[Viscore]

On average, traders know a lot about the theory to be able to be successful as traders, but most of them fail to apply what they already know, so they end up losing, so sometimes what we know before trading cannot completely guarantee success because the most important thing is to apply the knowledge we know consistently to be able to become successful traders who make a profit.

Knowledge and consistent trading experience will make a good entry for successful trading. However, trading is not just all about knowledge and reliable experience, but also discipline and patience that will help yourself to wait for the right set up before trading. And above all, trade without fears and greed, dare to risk trading but only with an amount you can afford to lose.

[pusaka]

On average, traders know a lot about the theory to be able to be successful as traders, but most of them fail to apply what they already know, so they end up losing, so sometimes what we know before trading cannot completely guarantee success because the most important thing is to apply the knowledge we know consistently to be able to become successful traders who make a profit.

Knowledge and consistent trading experience will make a good entry for successful trading. However, trading is not just all about knowledge and reliable experience, but also discipline and patience that will help yourself to wait for the right set up before trading. And above all, trade without fears and greed, dare to risk trading but only with an amount you can afford to lose.

That's precisely because practicing it will be more difficult than what we learn in theory. Learning theory by reading books or watching explanations from other people I think it will be easy for us to understand, but after entering into real trading, our minds will be divided because we have to be able to control many things at one time. You are right, we can't just learn to trade and then be successful, we also have to pay attention to things outside of trading practice but indirectly it will have an effect, such as discipline and patience as you said. We don't apply this directly to the market, but it has an important role when we trade. Discipline is something that is sometimes missed and this is where problems will be created.

[Awaklara]

Learning crypto trading is very important to new traders in the community, because it will open their eyes to so many things they think are very difficult for them to understand in trading, but if you achieve the skills of crypto trading, it will make you to be among the income earner in the market. Using one strategy to trade your coins, it will allow you to concentrate to favourable market than those traders using many strategies that will make them not to focus to the particular strategy that will bring huge amount of income at the end. Never you regret anytime you discovered your mistakes, which you can still turn to do the right thing that will make you to be confident in your trading, because many have loss their capital in trading because they refused to correct their errors before embarking on the trading.

I don't know which is more effective for each trader. What is certain is that each trader's method will be different in determining and using a trading strategy.
Sometimes more experienced traders also innovate by using several strategies to make trading analysis. It may work for one trader and may not for another.
There is certainly a lot of knowledge that traders must understand. And in practice when trading, they must adjust to what they want.