what makes a good trader?

[BTC FutureKing]

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.

I think that everyone has their own theory and they understand the thing with the same thing, but if the work of one thing is the same, then everyone's thinking should not be different. Just like in business, you get to work with different thoughts. It is like someone is rich and someone is poor, due to which everyone's situation and thinking ability is different. If we all had the same situation and ate the same food, everyone's thinking should have been the same, but I say that this is also okay and if someone was wrong, everyone would be wrong. In this way, right and wrong are known.

[el kaka22]

So basically, learn technical analysis, have a good bankroll management, and do not panic. Got it. All jokes aside, it's actually quite simple to trade, that's why bots do make a lot of money if managed properly. Because you take out the best technical analysis and feed it to a bot, tell it to keep the bankroll management well, and it can't panic or feel any emotions and just do those two.

The only trouble why humans do fail, is because of emotions, they are either lazy, or fearful, or angry, whatever you feel, those emotions prevent it. I do support trading using a bot, but only downside is "which" bot, there are many terrible ones out there, so if you use one of those then you are going to end up losing money as well.

[WhoYouCantKill]

This analysis is indeed a strong one and I agree with it .
Not having a technical edge, one may just be guessing. Understanding and knowing tools like Volume profile and Order Flow will give you advantage, only when you put in enough time to understand them deeply. No paid courses, just discipline and you are good to go.

Management of money, it is at this point most traders burn out. Though with strong system, poor risk management can ruin your account.

Psychology like you mentioned is what keeps everything intact. Emotions will constantly try you mostly when you lose a streak or after having a break-even trade like the POPCAT kind. Learning to be relaxed at this point and hold on to your rules makes the difference between Chaos and consistency.
You want to be serious with trading?, then focus on these three points. Without them it is turn to gambling not trading anymore.

[terrific]

The only trouble why humans do fail, is because of emotions, they are either lazy, or fearful, or angry, whatever you feel, those emotions prevent it. I do support trading using a bot, but only downside is "which" bot, there are many terrible ones out there, so if you use one of those then you are going to end up losing money as well.

I agree on this.
Emotional plays a vital part for every trader. It's because that we're humans and we feel that but if it happens to go to a wrong understanding and use of it.
Losses are inevitable and it will be the reason why someone even at a good condition, might do something wrong in his/her trades.
A good trader can adapt all of the situations in the market, good or bad. And will still able to profit from such through their experience.

[sheenshane]

The only trouble why humans do fail, is because of emotions, they are either lazy, or fearful, or angry, whatever you feel, those emotions prevent it. I do support trading using a bot, but only downside is "which" bot, there are many terrible ones out there, so if you use one of those then you are going to end up losing money as well.

I tend to agree with this, it's really hard to deal with your emotions while in trading.
But I dont think there's a reliable bot that we can trust, because picking a poor bot can indeed lead to losses just like human mistakes can. 
Could anyone point to a good bot that has already been tested?

Also, there should be a right balance between you are using the trading bot and your technical analysis and fundamental analysis, because whether human or bot, trading involves risks, and learning from both success and failure is part of the process.

[Sebastian Michaelis]

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.

Hi again or i should say : السلام عليكم !
if you don't mind sharing your trading journal , just the last 50 trades , i'd be happy to take a look and i may be able to help you spot the problem and fix it..

[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.

Hi again or i should say : السلام عليكم !
if you don't mind sharing your trading journal , just the last 50 trades , i'd be happy to take a look and i may be able to help you spot the problem and fix it..

Hello, brother.
Thank you for your kind offer, but I prefer not to publish my log trades publicly here to protect privacy. I'll send them to you privately, and you can share the results here.

I know you have experience with trading, so if you could help with some important tips on capital management and share them here publicly in the thread, it would be great for all members to benefit.

[tvplus006]

...You must have all three to trade successfully and they're written in order of importance. ..

In my opinion, risk management is more important and, accordingly, it should be on the first line in the order of importance. It must be remembered that even with high accuracy of forecasts, failure to comply with risk management will lead to the loss of the deposit.

[BigBos]

...You must have all three to trade successfully and they're written in order of importance. ..

In my opinion, risk management is more important and, accordingly, it should be on the first line in the order of importance. It must be remembered that even with high accuracy of forecasts, failure to comply with risk management will lead to the loss of the deposit.

Risk management is something that should not be overlooked when we start trading, not just in trading, but in anything we do. So, I agree with you: if we aren't good at risk management, we may soon face situations that could wipe out all our money.

No matter how much capital we have, if we don't implement risk management, everything we have will quickly disappear. And if we have a significant amount of capital, it should make us more comfortable in managing risk because it gives us more flexibility.

[YOSHIE]

what makes a good trader?

Of course everything you convey about trade in the crypto market, of course all of that should be what else regarding technical analysis, learning and financial management is a major factor that must be mastered in crypto trade.

I think other than what you say, if someone often trades small amounts as often, this method will bring them to good trade, they will often learn from mistakes that occur, I feel it for myself.

[rachael9385]

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.

Talking about learning technical analysis from YouTube you might end up getting a lot of things mixed up. Remember that people create YouTube channels to get money, most of the things that they teach about application of strategies are not really going to make you profitable. As a beginner you can learn the fundamentals and foundations of trading from YouTube but when it comes to learning trading strategies it's not reliable

[DaNNy001]

Technical analysis and all other things are important but without having a mastery of psychology you wouldn't really go far as a trader...in psychology it compromises of your emotions and how well you are able control yourself when you are under pressure...A lot of traders know how to analyze their trades but when they end up losing they are incapable of controlling their emotions, as a result of this they end up losing more because they try to do revenge trading

[Botnake]

A good trader is someone who is good mentally, financially, emotionally and even physically. This why money management, psychological management and having technical and fundamental knowledge are a must, otherwise you will never be good enough to combat the trading risks and challenges in the market.

Also, a good trader isn’t just that, but it also takes even a little bit of luck so that the market behavior will come to favor you, thus giving you higher potentials to win your trades despite how unpredictable the market is.

[harapan]

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.

Absolutely correct, we find people talk more of trading and analysis and all that but just few are able to master the act of trading and follow suit. Yes the market isn't friendly which it's expected of us to clearly go through the charts as well as understand how everything works. Experience is the best teacher and so we learn from our mistakes and perfect it overtime.

[Sanitough]

So basically, learn technical analysis, have a good bankroll management, and do not panic. Got it. All jokes aside, it's actually quite simple to trade, that's why bots do make a lot of money if managed properly. Because you take out the best technical analysis and feed it to a bot, tell it to keep the bankroll management well, and it can't panic or feel any emotions and just do those two.

The only trouble why humans do fail, is because of emotions, they are either lazy, or fearful, or angry, whatever you feel, those emotions prevent it. I do support trading using a bot, but only downside is "which" bot, there are many terrible ones out there, so if you use one of those then you are going to end up losing money as well.

There’s only one advice if one decide to trade, clear out your emotions first and make sure to focus well on your trade. Otherwise, if you trade while having high or negative emotions, you will also end up with a negative  trade as well. This is not hard actually but is often overlooked especially by beginner traders.

Now, in terms of using bot, all I can say is that you can’t still be profitable on your trade if you just rely on using bot alone, as you also need personally to be knowledgeable and strategic in trading, since you are still the navigator of your trade, the bot is only like your servant/follower.

[G_Besar]

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.

Absolutely correct, we find people talk more of trading and analysis and all that but just few are able to master the act of trading and follow suit. Yes the market isn't friendly which it's expected of us to clearly go through the charts as well as understand how everything works. Experience is the best teacher and so we learn from our mistakes and perfect it overtime.

In trading, it's essential to learn regularly and practice, because mastering the science of trading is clearly difficult if done only once. Therefore, generally speaking, many traders still struggle to achieve profits in the market, but those who succeed in achieving profits through trading are also quite numerous, as there are now more traders in major markets, especially after the recent price increases for most coins. So, we all must continue to enjoy the process and journey of trading consistently every month.

[joeperry]

In trading, it's essential to learn regularly and practice, because mastering the science of trading is clearly difficult if done only once. Therefore, generally speaking, many traders still struggle to achieve profits in the market, but those who succeed in achieving profits through trading are also quite numerous, as there are now more traders in major markets, especially after the recent price increases for most coins. So, we all must continue to enjoy the process and journey of trading consistently every month.

Practicing just trade is easy but the hardest part is how are you going to analyze the market and that's when the experience will come since through trading you will experience a lot and practicing trading is not enough, sometimes even if your analysis is right there are some factors that might affect it and through experience you will learn that what you see is not the overall picture at all and just a portion.

But yeah just enjoy the process and you will learn a lot.

[bitLeap]

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.

And the bottom line is that it all depends on the trader mentality. I mean no matter how big the profit or loss, as long as their mental state is sound, they will always be able to bounce back. Mindfulness is paramount when trading in volatile markets. Don't be surprised if some people make big profits but end up losing money because their mentality isn't ready for large sums of money, leading them to lose control. So trading psychology determines who you are in the volatile crypto market.

[rachael9385]

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.

A lot of traders that analyze well but don't apply risk management end up losing in the long run. One thing that makes trading different from gambling are the rules that are meant to be followed, traders that don't follow the rules run into losses. Trading is actually very risky which is why it's always better to be on the safe side by managing the capital you trade with and also knowing how to control your emotions

[Faridulme]

Yes, what you said is correct, and many people are facing big losses in a short time, trading without knowing, And many people think that trading here will make money, but in fact it is not as easy as it seems,