what makes a good trader?

[justdimin]

Consistent, discipline and learning from mistaked makes a good trader it's not just about reading trading is deeper than just chats . You have to get a good trading plan, trading rules, risk management and so much more. All this together brings out a trading guru.

If you keep learning and keep trying to be better then you are going to be better. If you end up with nothing then you are going to not know what you are doing and won't get the results that you want. Unfortunately for us, many people make that mistake and do not study enough. I guarantee you, if you just take whoever made the most money in September by trading crypto, and ask them about trading, they would tell you all about it, used it or not.

You do not become a great trader without knowing anything about trading, you have to end up with a great result for that to actually be good. This is the most important part of it and I am sure that we are going to see them be great at studying.

[Mame89]

I would only suggest that if your mindset is not yet well-formed, and if you cannot manage your finances, never become a scalper or a day trader. It will be mentally draining, and honestly, you don’t have to trade every day to be a good trader. 

Financial management is indeed very important for traders, especially for those who want to trade daily. Trading clearly drains our mental energy and focus. Trading every day may place a different kind of pressure on traders who are not used to it.
To be a good trader, it is not necessary to trade every day. We do not need to show anything to others. We must know the right time to trade or to rest. Some beginners sometimes get too excited and forget to take breaks. They may not realize that when we are tired, we can sometimes overlook simple details that can lead to losses.

Many beginners misunderstand that to become a successful trader, you have to trade every day. This is completely wrong. To be a responsible trader, you must have a sound strategy, but a good strategy is useless without good money management. Once you have a sound strategy and money management, it's time to develop and hone your trading psychology. Trading psychology is paramount in trading many experienced traders even say your main enemy in trading is yourself.

The best teacher in trading is experience. From experience you can assess whether your strategy is good or bad. This experience can be gained not from daily trading, but from trading with money you can afford to lose, so you can practice emotional control. Sufficient knowledge coupled with good control will lead to successful trading.

[irhact]

Consistent, discipline and learning from mistaked makes a good trader it's not just about reading trading is deeper than just chats . You have to get a good trading plan, trading rules, risk management and so much more. All this together brings out a trading guru.

A good trader is one that learns from his mistakes, improve on them and make himself a better trader. If you aren't learning from your mistake as a trader, you'll just be wasting money and learning nothing. A good trader is one who understands the market better than others and knows when to make the right decisions. Trading and being successful takes alot of sacrifice because to become a master, you'll first have to go through lots of lessons and if you aren't the type that learns quickly, you'll make lots of losses that continuing to trade becomes a problem for you. A good traders knows when to takes profits, continue to hold on to the trade or call it a day. Good traders know when to make the right decision always.

[Oluwa-btc]

A good trader isn’t defined by how often they win, but it is defined by a combination of mindset,skill, knowledge,discipline,adaptability,and personal growth.It’s not just about buying low and selling high,it’s about managing uncertainty,decision-making under pressure,and maintaining consistency in the long run.They requires focus and the mental strength to carry on this tasks.

[Man of peace]

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.

Good analysis,i know there's some many other ways,but just like you said that this analysis you gave out is base on the experience,so I wish to ask you, while you are applying all of this, I hope the good it does to you is greater than the bad of it, because will all know that there's no strategy that one can apply on trading that doesn't involves risky attach to it but we are all looking for the strategy that have lesser risky.and i think this trading requires long period of time to study it and have the full knowledge about it before making an attempt most especially those who have no idea about trading before, it's not something one can just rush into just because one needs money without the full knowledge of trading..

[nara1892]

In my opinion, the most important of the three is financial management. With the ability to manage our finances, we are less likely to experience liquidation or MC. However, financial management will only be successful if, for example, a trader has good emotional self-control. This is because it's not uncommon for traders to end up bankrupt mid-stream due to being unable to control their emotions when losing, which ultimately leads to careless decision-making.

So, the most important thing is financial management, and the second is technical and fundamental strategies. So far, to be honest, I prefer trading using technical strategies because, frankly, I can't analyze the market in the long term.

[Wind_FURY]

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.

BUT that probably doesn't matter because the statistic that about 90% of plebs don't make money remains the same, no?

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.

OK, are you truly a "profitable trader" over a very large sample size? Because it would be easy to post that you're a "winning trader" without actually showing proof.

For plebs like us, denominating our capital in Bitcoin and HODLing is enough. It will outperform many of those other plebs who "trade" shitcoins, and that's a FACT.

[ChocolateBitcoinK]

A good trader isn’t defined by how often they win, but it is defined by a combination of mindset,skill, knowledge,discipline,adaptability,and personal growth.It’s not just about buying low and selling high,it’s about managing uncertainty,decision-making under pressure,and maintaining consistency in the long run.They requires focus and the mental strength to carry on this tasks.

In fact, while people think trading is easy, the reality is that it is very difficult, to be a good trader you have to think realistically, it is not a place for emotions, and there will be losses here many times, but here you have to constantly rebuild yourself, make mistakes but learn from mistakes, and make yourself more skilled. This is a long-term process, because you have to spend a lot of time to achieve complete skills here, only then it is possible to achieve success at one stage.

[Rockstarguy]

A good trader isn’t defined by how often they win, but it is defined by a combination of mindset,skill, knowledge,discipline,adaptability,and personal growth.It’s not just about buying low and selling high,it’s about managing uncertainty,decision-making under pressure,and maintaining consistency in the long run.They requires focus and the mental strength to carry on this tasks.

It is even impossible to win often in trading; a good trader also expects to lose in trading and knows how to handle emotions when the trading outcome is not going well. They also know how to manage funds in trading.

Being a good trader is not just about the wins in trading but how to manage hard times in trading because there will definitely always be hard times in trading. If only wins determine if one is a good trader, that means there is no trading because trading is all about losses and profits.

[goldkingcoiner]

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.

Yep, I agree too.

Because we cannot predict the future we can only make assumptions based on historical data. If we were anywhere near with our predictions to actual reality then everyone would be a billionaire. But some things cannot be predicted. Black swan events, FUD, investors selling off, and so on.

The only good a trader can do is not to panic sell and to believe in his/her investment, even when things are going astray.

[IjawMan]

 Becoming a maestro trader is not earned sudden but a lifetime  skill that takes years and procedures to master. Gaining trading knowledge is not in the numbers of trades you make, people trade out of emotions with no risk management and they can be doing this for years thinking they are traders not knowing they have been gambling with the money all that time.  When entering the market you must have what you are looking for and you get this through your technical know-how

[Wind_FURY]

 Becoming a maestro trader is not earned sudden but a lifetime  skill that takes years and procedures to master.

But plebs like us in BitcoinTalk like to post like a "maestro". I believe we should start calling those people out, and encourage every pleb to do what makes us actually win - HODL Bitcoin.

Gaining trading knowledge is not in the numbers of trades you make, people trade out of emotions with no risk management and they can be doing this for years thinking they are traders not knowing they have been gambling with the money all that time.  When entering the market you must have what you are looking for and you get this through your technical know-how

Although plebs can gain knowledge, are they actually gaining money from "trading"? It's very easy for a pleb to tell other plebs that he/she is a "profitable trader" without showing any proof.

  ¯\_(ツ)_/¯

[IjawMan]

 Becoming a maestro trader is not earned sudden but a lifetime  skill that takes years and procedures to master.

But plebs like us in BitcoinTalk like to post like a "maestro". I believe we should start calling those people out, and encourage every pleb to do what makes us actually win - HODL Bitcoin.

It an anonymous forum and I do not have the foresight to who is a pleb in the forum for I can only speak of myself for the pleb that I am, and I subscribe to the bitcoin hodling theory and I'll recommend it 100x over trading.

Gaining trading knowledge is not in the numbers of trades you make, people trade out of emotions with no risk management and they can be doing this for years thinking they are traders not knowing they have been gambling with the money all that time.  When entering the market you must have what you are looking for and you get this through your technical know-how

Although plebs can gain knowledge, are they actually gaining money from "trading"? It's very easy for a pleb to tell other plebs that he/she is a "profitable trader" without showing any proof.

  ¯\_(ツ)_/¯

Knowledge, partly yes. Money, No.

Telling others people they are not profitable trader will present them as quack trader

[barbara44]

These 3 steps might look quite easy to ready but are really very difficult to implement in real life. You will always miss either of these and that is when you start making loses. It is always recommended to keep be intensively practicing with demo accounts until you think you really have mastered all these 3 skills and only after that try starting with minimal amounts. Technical analysis among these is most important one because without actually knowing how to analyse the markets, you can never really start making profits.

But, even if you start analysing the markets appropriately, you should know how much to risk on one single trade and how to maximize the profits cutting out loses. This will take months or years of knowledge learning and real life experiences. We will see a profitable trader after all these hard works only if he/she has acquired these 3 skills.

[beveryu778]

Technical analysis is the most important thing for trading. The better those who know technical analysis, the higher their profit ratio. Not only technical analysis, sometimes some technical knowledge helps a lot in trading. For example, when there is a TGE or Launchpool or Launchpad on Binance, the price of BNB increases rapidly because there is a task of BNB holding and because of this everyone buys and holds a large amount of BNB. For these reasons, it is normal to understand that the price of BNB will increase. Some such technical knowledge and technical analysis play a very important role in the success of trading.

[Peanutswar]

I do always consider the knowledge in terms of technical analysis because this is the edge of the trading if you dont know and understand how this work you dont have an idea what going through to current state of the market, and of course having a risk management is a must not all traders are rich people who are just willing to spent a lot of dollars and money in just a wrong position they knew what they are doing having a stop loss and take profit with this so use your money wisely. Also the porfolio gains of course the accumulated wins in a day, week or any basis you want because its how we measure the success rates.

[programmer3666]

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.

One thing I've known is that, to be successful in trading, you have to be smart in all round anything that has to do with that line of problem, trading is exactly trying to take money away from highly smart people who are also trying to take money away from you, this is why trading is so hard for most, especially those who are not smart.

Being smart as a trading involved alot of things which I believe those three attributes you mentioned that makes a good trader are also part of, but in all, being patient with learning is very important, and if possible, don't depend or base your learning from online alone, find a physical mentor, someone that is very good and has also succeeded as a trader to also learn from physically, this is very important.

trading is not just about knowing all the cool &colorful charts or indicators!! it is a mental and strategic game where you are up against other skilled people. that is why patience and continuous learning are so important. having a mentor you can learn from directly makes a big difference too because honestly real experience teaches more than what you find online. a good trader stays disciplined, learns from mistakes and focus on steady growth instead of quick profits.

[@nn@_pen9]

I bet anyone can be a good trader, despite of those inevitable losses. But the real challenge here is that if these traders can be reliable and sustainable enough, knowing trading in the market has always uncertain outcomes. However, a good trader does not just trade simply for profits alone, but it’s more on they trade because they want to increase their potentials in trading and develop positive attitudes towards successful trading.

Every trader has probably experienced the same thing as you mentioned above. Indeed, if we master a little knowledge, profits will follow what you do in this case, knowledge is very important if we want to trade. That is why we need or are obliged to record both the failures and successes of the methods they use. This trading job requires a long marathon to become truly an expert in this field, your patience and mentality are truly tested. If you want to be successful in anything, never give up, keep learning from every mistake you make, of course, effort will not betray the results.

[OcTradism]

Every trader has probably experienced the same thing as you mentioned above. Indeed, if we master a little knowledge, profits will follow what you do in this case, knowledge is very important if we want to trade. That is why we need or are obliged to record both the failures and successes of the methods they use. This trading job requires a long marathon to become truly an expert in this field, your patience and mentality are truly tested. If you want to be successful in anything, never give up, keep learning from every mistake you make, of course, effort will not betray the results.

Trading is risky before, after your trading start and during your trading journey too because if you are not well prepared from knowledge, skills to psychology, you will face with more risks in trading.

During trading time, you will be challenged a lot by the market volatility, news and FUD on media as well as psychological stress from the market and inside yourself. It is super challenging to survive in the market where there are more losers than winners and you must be realistic that no guarantee for you as one of scarce successful traders in the market.

Prepare small part capital for trading and control, limit yourself for avoiding funding your trading account with more money after losses. It will damage your overall finance as well as all capital very quickly as money can be lost in market so quickly if you can not control yourself well enough.

[iBaba]

Consistent, discipline and learning from mistaked makes a good trader it's not just about reading trading is deeper than just chats . You have to get a good trading plan, trading rules, risk management and so much more. All this together brings out a trading guru.

A good trader is one that learns from his mistakes, improve on them and make himself a better trader. If you aren't learning from your mistake as a trader, you'll just be wasting money and learning nothing. A good trader is one who understands the market better than others and knows when to make the right decisions. Trading and being successful takes alot of sacrifice because to become a master, you'll first have to go through lots of lessons and if you aren't the type that learns quickly, you'll make lots of losses that continuing to trade becomes a problem for you. A good traders knows when to takes profits, continue to hold on to the trade or call it a day. Good traders know when to make the right decision always.

It is not even all about the mistakes because in life, you must make mistakes and fail but the buttom line is whenever you fail try and fail to the forward level through how you are able to package yourself and your activities again. Once you are able to learn from the mistakes that come your way, you will definitely become stronger by the day. Being a good trader is by taking your time to learn from the best teachers, it is not just by jumping on it and looking for mistakes to learn from, no it is by you understudying the trading platforms and patterns and also learning from other people's mistakes and not necessarily your mistakes even though you should prepare your mind towards it is the best way to solve the challenges.