what makes a good trader?

[Sebastian Michaelis]

Hi amigos.. let's keep it simple ;

1) You need a technical edge, a system that puts the odds in your favour.
                           There are countless schools of analysis and strategies you can dive into— From my experience, this is the best one you can learn:Technical analysis / Volume Profile / Order Flow ...
                           but the most important thing, Is mastering them like a true maestro... And that, my friend, takes time, patience, and relentless training.
                           PS : everything is free online , you dont need to buy a shit. youtube is your friend.

2) Money management - You need to understand risk and be able to manage this ongoing.
                             I’ll leave the floor to you to talk about this field from your own exprience.
                     
3) Psychology - You need to learn, understand and be able to apply trading psychology 24/7.
                                          There are some individuals—psychiatrists and seasoned minds—who offer teachings in this domain.
                                          ex : Rande Howell - Tom hougaard - brett steenbarger
                                          They all run YouTube channels.

You must have all three to trade successfully and they're written in order of importance.
You must also learn each aspect in the order I have written them. You can be a master of trading psychology or money management, but if you don't have a technical edge you won't make money.
95% of retail traders never overcome step 1, this is why so many fail.

[Oshosondy]

Yeah, one of the most important thing in trading is technical analysis but also fundamental analysis is very important.

But what that is most important is money management and the ability to overcome emotions. These two later things are very important and it can help in helping someone to later make money from trading.

But it is still very important that trading should be considered as something that is very risky. Do it with the amount of money that you can afford to lose. It is not gambling but it is very similar to gambling.

[Don Pedro Dinero]

Yes, but do you give that advice based on your own experience or on data you've gathered from elsewhere? I'd bet that it's the latter and that, for example, Oshosondy is a much better trader than you.

In the end, only a tiny fraction of traders are profitable in the long term, and advice like this is cheap theory that won't help the 99% of losers.

[The Cryptovator]

In a short word, patience would make you a good trader. Everywhere you need to be patient; when you buy a coin, you need to wait with patience. When you need to analyse the market, you still need enough patience to do it. Unless you include patience everywhere related to trading, you can't be a good trader anyway. You need to find a solid coin as well to trade; if you choose a shitcoin, then likely you would lose everything and dump your portfolio. Risk management is also one of the important parts of trading. You have to understand where you need to buy and where you need to take out your profits as well.

Nowadays it's quite easy to learn trading online; there are a lot of YouTube videos and chatbots that would answer all yourquestions. That means you can research something much faster than before. Every trade should have a goal where you will take the profits; if it does go in reverse, then you have to manage the risk by taking real-time decisions. Trading is really not easy like we think. You need a lot of patience to get profits from crypto trading.

[boyptc]

With all of those factors that you've mentioned. A real good trader can be seen through the results of his traders.

An output based trader can be said as a good trader if the winning ratio of his trades are better compared to his losses.

Losses are inevitable but if he's getting less of that and his risk management is tolerable, in the eyes of just normal traders then they're the real ones.

[Sebastian Michaelis]

Yes, but do you give that advice based on your own experience or on data you've gathered from elsewhere? I'd bet that it's the latter and that, for example, Oshosondy is a much better trader than you.

In the end, only a tiny fraction of traders are profitable in the long term, and advice like this is cheap theory that won't help the 99% of losers.

DAAAH ! read my first line "from my own exprience" do you even understand english ??
and advice like these are worth more than all the profits you’ve ever made from crypto, buddy.
And I’d bet my last satoshi: If you actually took the time to learn what I told you  " TA+VLM PROFIL+ORDER FLOW"  and learn psychology from people I mentioned…
you'd finally start making some real profits —
instead of wasting your time throwing trash comments at people who are out here genuinely trying to help the community.

Hablas mucho, ganas poco. tonto.

[Sebastian Michaelis]

Yeah, one of the most important thing in trading is technical analysis but also fundamental analysis is very important.

But what that is most important is money management and the ability to overcome emotions. These two later things are very important and it can help in helping someone to later make money from trading.

But it is still very important that trading should be considered as something that is very risky. Do it with the amount of money that you can afford to lose. It is not gambling but it is very similar to gambling.

"it is not gambling but it's very similar to gambling" i like this line , totally agree.

[Hatchy]

I guess you are the type that likes to play with colours.. well you gave some good points and I'll appluad you on that.. most times a lot of new traders fails to see the reason why they keep losing and at some point even think of giving up their trading career.. first thing first, get a good knowledge about trading.. get a mentor and stick to a good risk management plan. The market has countless number of trade so avoid chasing trades that are not worth the risk... Yes we have a lot of educational information and videos online especially on YouTube, you can learn the best ones and try to stick to one strategy at a time...

[348Judah]

There are lots of factors to put in consideration when on the look for what makes a good trader, let me start by our experience in trading, ability to manage and relate merging trends, interpret the chart with the use of different indicators and being able to know the best strategies one can adopt for use, being the most suitable one as identified at the course of learning, we can see that everything in trading have to do with experience and being competence in doing what we are meant to do, so that we may drive result as we go further in it over time.

[AGogi2003]

In a short word, patience would make you a good trader. Everywhere you need to be patient; when you buy a coin, you need to wait with patience. When you need to analyse the market, you still need enough patience to do it. Unless you include patience everywhere related to trading, you can't be a good trader anyway. You need to find a solid coin as well to trade; if you choose a shitcoin, then likely you would lose everything and dump your portfolio. Risk management is also one of the important parts of trading. You have to understand where you need to buy and where you need to take out your profits as well.

You are absolutely right, patient is the key to make you a good trader, because without patient you won't bear the risk involved because anytime you lose you will think that trading is not for you but patient can make you successful on it. Trading is very risk and without a lot of knowledge you will always find it difficult to achieve profit on trading. Some people are trading shicoin and get profit but that will be a high risk because is unpredictable and if you are not a risk taker you should go away from trading shitcoins is not advisable for newbies that just started trading, because you need to understand the market very well and you should be the one that make research very well and willingness to lose anytime.

Risk Management is always important for all traders because you should not lost everything in one trade, that is way is always advisable to risk what you can afford to lose. Because trading is not friendly you need to risk before you can achieve your goal that is why patience is the key to be successful, the more you lose the more you learn and get more experience to resolve your problem and become a good trader and become profitable.

[Sim_card]

Trading is easily said than done especially, for people who are not traders. What you read in theory is different from what you will experience in the market which is why you have to practice as you are learning the theory so that, you can have the experience of how the market works. Also is bad to trade 24hrs because that's another road to incur more losses. You should know when to trade and when not to, which is where patience and control of your emotions come in play. Only trade with the amount of money that you can afford to lose and don't be greedy.

[Su-asa]

Trading is easily said than done especially, for people who are not traders. What you read in theory is different from what you will experience in the market which is why you have to practice as you are learning the theory so that, you can have the experience of how the market works. Also is bad to trade 24hrs because that's another road to incur more losses. You should know when to trade and when not to, which is where patience and control of your emotions come in play. Only trade with the amount of money that you can afford to lose and don't be greedy.

That's correct mate, many people thinks that trading is easy until they try it. I actually know if a guy who says he knows a perfect strategy that he can use for trading which will give him some winning but the truth is that your strategy is not always guaranteed until you make the profits through it. However the market might be in your favor for awhile but trust me, some of the days you lose your capital.

[Lanatsa]

Hi amigos.. let's keep it simple ;

1) You need a technical edge, a system that puts the odds in your favour.
                           There are countless schools of analysis and strategies you can dive into— From my experience, this is the best one you can learn:Technical analysis / Volume Profile / Order Flow ...
                           but the most important thing, Is mastering them like a true maestro... And that, my friend, takes time, patience, and relentless training.
                           PS : everything is free online , you dont need to buy a shit. youtube is your friend.

2) Money management - You need to understand risk and be able to manage this ongoing.
                             I’ll leave the floor to you to talk about this field from your own exprience.
                     
3) Psychology - You need to learn, understand and be able to apply trading psychology 24/7.
                                          There are some individuals—psychiatrists and seasoned minds—who offer teachings in this domain.
                                          ex : Rande Howell - Tom hougaard - brett steenbarger
                                          They all run YouTube channels.

You must have all three to trade successfully and they're written in order of importance.
You must also learn each aspect in the order I have written them. You can be a master of trading psychology or money management, but if you don't have a technical edge you won't make money.
95% of retail traders never overcome step 1, this is why so many fail.

1. When you do have that technical edge then most of the time we would be that using up this kind of approach because not all the time on which the market would be giving out that sentiments or news around on which simply means that you cant just that make out some blind trades without any basis specially if you are doing some short term approach. You are the ones will be that making out some decisions on trying out to familiarize on those specific tools that you would be gonna needing because at the time that you would be finding yourself having no knowledge towards it then it will be that resulting into that tons of mistakes or errors or simply you are just that doing gambling with it.

2. Money management would be that important on which its common sense. You do know about risks management on which this will help you that be able to avoid into those impulsive reactions into your positions on which if you are that seeing that been losing. When you do have that proper management then you can be able to handle out your trading capital on which you can make those kind of allocations on whats the amount of money that you would be that trying to risks on. Trading capital should be that handled well and if you do saw yourself that having needing those kind of adjustment then you should be that doing it instead on trying out to become impulsive and make yourself to be a gambler rather than on being a trader. You should be that careful into this one.

3. Psychological and Emotional aspect on which this would be that something that you do need that to have that control into. Why? If you do fail on doing so then it would be bringing out that huge problem when it comes into your trading because those things above will be that totally useless if you cant be able to stick into your plan just because you've been having those kind of panic or having those kind of changing up plans whenever the market do make out some opposite movement basing up on what you had set. There are those times or conditions that you do become that not be able to think up well on various situations on which it will be resulting into those negative reactions or outcomes just because you cant think off well or having that sense on what are the things that you should gonna do.

[Uruhara]

Everything OP mentioned is indeed the basics that a trader must master. And all of them are very important and nothing should be overlooked. Because basically, if you want to become a professional trader or a good trader, mastering all types of analysis is a must. I also learn analysis gradually, even though I haven’t mastered everything yet. But at least I know which analyses I need to study and master eventually. Such as

1. Technical analysis, which is very important for reading patterns and market history. This includes analyzing trading volume, market trends, market chart history, and other factors that can be identified through technical analysis.

2. Fundamental analysis, to determine the potential and condition of the assets we will trade. And also to identify specific or global market conditions so we know which ones truly have potential or good opportunities that we should enter or even avoid.

3. Sentiment analysis is also extremely important because the final decision from all analyses can often be determined after conducting this sentiment analysis. Through this analysis, we can understand the sentiment in the market. Whether it's the impact of a news story, whether the market trend is currently hyped, whether greed and fear among market participants are strengthening or weakening, and so on. Typically, this analysis also helps us determine when to enter a hyped coin and when to exit before the hype subsides. This analysis also involves market psychology analysis.

[Distinctin]

You make a point there. Having technical and fundamental analysis are crucial for a successful trading. That’s why having real knowledge in the market, developing skills and reliable strategies that will suit your trading style are always a must. And proper risk management should never be overlooked, otherwise you are trading at a loss in the end.

However, I believe trading psychology is the highlight in trading. You are battling with your emotions every time you decide to trade. So your emotions are the greatest factor in trading, if you don’t know how to navigate your emotions, still all your profits will turn into losses in the long run, simply because you prioritize your greed over creating stable emotions.

[JiiBs]

I don’t know why you chose this pattern of presentation for your write up but, it makes an uneasy read don’t you think, going back and forth with every line.


When it comes to trading, I think every form to analysis is very important. While technically analysis could give you ideas of a continued trend and its direction in case of a possible breakout, fundamental analysis would surely aid you in any emergency setup for which technical analysis would not give insights on.

A good trader would understand the risk and how to manage them both.

[Josefjix]

                   
3) Psychology - You need to learn, understand and be able to apply trading psychology 24/7.
                                          There are some individuals—psychiatrists and seasoned minds—who offer teachings in this domain.
                                          ex : Rande Howell - Tom hougaard - brett steenbarger
                                          They all run YouTube channels.

What I strongly believed is that, the least things are the most important things to look out for. Everyone keeps saying money management is the most effective, but mental health is everything. It takes a perfect mental health to control emotions, losses, and gains, when the mental status of a trader is unstable, every profits gained will be ruined as he lacks a strong mental ability to diversify his income, knows when to play more, knows when to stop, knows how much to keep for other investment and savings.

All these are controlled by perfect mental orderliness.

[Odusko]

Most times we have fine it very easy to make a line of write up based on our readings and not reality, although financial management in trading is very important but to me financial management shouldn't be listed as a trading feature or quality, but as a fundamental life approach that we have to apply to our daily activities and not just trading alone.

[Pandorak]

Yes, if your focus is only looking for short-term profits such as scalping, intra-day, it's okay to focus only on technical analysis as a reason to buy. However, when it comes to short-term investment, it's more complex because the most important thing is to focus on the fundamentals themselves rather than technicals.

Your points are good @OP. Strategy, money management, trading psychology, trading plan, risk management are ways that a trader can be consistent in finding profits in the market, these are the basics of technical analysis that every trader must understand if they want to be successful in trading.

[yhiaali3]

In fact, the worst thing I've struggled with in trading so far is my inability to manage money properly. This isn't easy at all. It requires high skill and extensive experience.

I often make successful trades and make profits, but I don't know how to manage my capital properly. Most of the time, the result is either no profit at all or a loss in the final analysis.
I need a good capital management strategy that will help me maintain my profits. All my efforts are wasted due to my lack of mastery of capital management. This is what I will try to learn and master in the coming period.