When to know you are a good trader

[Somto9Light]

Those traders that trade with high risk are not professional trader because what differentiate a good trader with bad traders is their ability to manage their risk, control their emotion and take profit appropriately without emotion and greediness, infact some newbies believe that trading can made them to become rich within the shortest period of time thus placed high risk trades like gamblers unfortunately when price reverses against them their account get liquidated and got rent, but when advice to buy bitcoin at a low price and hold till bull run when they can make some reasonable profit they would defy such advice because they wanted to get rich quickly.

When one has the ability to control their emotions when trading its very important and useful to them, as they don't have to copy other ways or strategy and apply it to trading because most traders are into trading today because they believed that they can have quick money from it, and most newbies can easily be swayed away or can be mislead through the advice given to them that they can have instant money from trading and this has make them not to consider do any findings or research to help increase their knowledge as they already be mislead by wrong advice and they believed in it so much, that they can destroy their dreams of being successful in it.

[Johnlomape]

Those traders that trade with high risk are not professional trader because what differentiate a good trader with bad traders is their ability to manage their risk, control their emotion and take profit appropriately without emotion and greediness, infact some newbies believe that trading can made them to become rich within the shortest period of time thus placed high risk trades like gamblers unfortunately when price reverses against them their account get liquidated and got rent, but when advice to buy bitcoin at a low price and hold till bull run when they can make some reasonable profit they would defy such advice because they wanted to get rich quickly.

When one has the ability to control their emotions when trading its very important and useful to them, as they don't have to copy other ways or strategy and apply it to trading because most traders are into trading today because they believed that they can have quick money from it, and most newbies can easily be swayed away or can be mislead through the advice given to them that they can have instant money from trading and this has make them not to consider do any findings or research to help increase their knowledge as they already be mislead by wrong advice and they believed in it so much, that they can destroy their dreams of being successful in it.

Since there is no way we can be perfect as a trader without losing money, there are different ways to know who is a good trader and this involves the way you are trading the market. The number one thing to know about a good trader is how he execute trades which must have certain risk management pattern in order to reduce the possibility of losing too much to the market.

There are aggressive traders that to make use of adequate risks management in place to prevent their chances of losing too much to the market and this can often lead to a disaster if the trader does not make sure that trading capital need to be protected by all means while trying to make money.

[Hamza2424]

You people know that I do not encourage stop loss. From my experience, I know that it is used by greedy traders.

I think bro your opinion about stop loss is different, as I think SL is not a tool for greedy traders. Instead, as others have indicated, it is the literal backbone of professional risk management. Relying solely on small position sizes to absorb downturns assumes the market will recover, but in crypto anything could happen. So I would never trust my capital to the market; instead, cutting losses is the typical and best way to stay in the market with more money that you can risk on an opportunity.

Because doing it with multiple trades at the same time could make you stuck with them for a long time, even if the liquidation price is too low. But with, let's say, 5 to 9 trades open at the same time, you won’t be able to close them before the market starts a downtrend, and being stuck there means most of your capital is locked. Although your plan might work when you are opening a single trade at a time.

[alastantiger]

I was like that when I was new. Often checking the prices through my phone but that's a normal sign that we're serious in what we do.
I don't think that's gambling there but that's also part of the learning experience for a trader how to save time as well.
It doesn't have to be 24/7 of monitoring the market and the prices. But all of those good skills comes from worst experiences like that.

Before you can consider yourself to be a good trader you have to be making profit continuously and until then you are just an average trader. Many traders that we have are average and not good because they are not making profit instead they are just disguising like they are making profit. Majority of the traders are in losses and that is why they continue to panic when the market is dumping. A good trader would have developed a good strategy that they use in trading without having to rely on others but if you are yet to be in this shoes then you should know that you have a very long way to go but don't be discouraged as everything can be achieved at the end of the day.

[ASloveapg]

Those traders that trade with high risk are not professional trader because what differentiate a good trader with bad traders is their ability to manage their risk, control their emotion and take profit appropriately without emotion and greediness, infact some newbies believe that trading can made them to become rich within the shortest period of time thus placed high risk trades like gamblers unfortunately when price reverses against them their account get liquidated and got rent, but when advice to buy bitcoin at a low price and hold till bull run when they can make some reasonable profit they would defy such advice because they wanted to get rich quickly.

When one has the ability to control their emotions when trading its very important and useful to them, as they don't have to copy other ways or strategy and apply it to trading because most traders are into trading today because they believed that they can have quick money from it, and most newbies can easily be swayed away or can be mislead through the advice given to them that they can have instant money from trading and this has make them not to consider do any findings or research to help increase their knowledge as they already be mislead by wrong advice and they believed in it so much, that they can destroy their dreams of being successful in it.

When I am sure that I am trading with the excess money of my income. I am ready to lose that money and even if I lose the entire money, I will not suffer much loss. Those who can ensure such a mindset can easily control their emotions. They lose their control due to excessive fear, excessive frustration and excessive confidence. That is why trading with excess money is mainly suitable for trading. When someone is aware of his own capabilities and risk management, he will generally be careful to make decisions that are risky for him and have the possibility of being damaged in the long run.

[Leahized]

I was like that when I was new. Often checking the prices through my phone but that's a normal sign that we're serious in what we do.
I don't think that's gambling there but that's also part of the learning experience for a trader how to save time as well.
It doesn't have to be 24/7 of monitoring the market and the prices. But all of those good skills comes from worst experiences like that.

It is normal for a person to make many mistakes in a new situation. After learning about trading day after day, you should learn from the mistakes you make. However, there are many risks involved in trading, which should also be aware of. For example: Avoid using high leverage. I think it is most important to observe the chart instead of looking at the price. This makes it easy to predict the next directions. To be honest, many times when I trade I accidentally make mistakes. And from this mistake I decided later. This reduces a lot of risk and can achieve success through trading.

[Crytohillss]

I was like that when I was new. Often checking the prices through my phone but that's a normal sign that we're serious in what we do.
I don't think that's gambling there but that's also part of the learning experience for a trader how to save time as well.
It doesn't have to be 24/7 of monitoring the market and the prices. But all of those good skills comes from worst experiences like that.

It is normal for a person to make many mistakes in a new situation. After learning about trading day after day, you should learn from the mistakes you make. However, there are many risks involved in trading, which should also be aware of. For example: Avoid using high leverage. I think it is most important to observe the chart instead of looking at the price. This makes it easy to predict the next directions. To be honest, many times when I trade I accidentally make mistakes. And from this mistake I decided later. This reduces a lot of risk and can achieve success through trading.

I think this is the one of the most underrated parts of trading, managing your risk if the money one are trading with is money you can afford to lose one are far less likely to make emotional decisions. A lot of persons focus on strategies but forget that mindset and discipline are just as important risk only what you can afford to lose trading with money one actually need often leads to panic and poor decisions staying within your. Limits makes it easier to think clearly and stick to one's plan.

[Junii]

This is a very simple truth that you may not know as a trader.
This are not for scalpers but day traders and swing traders.
I have been there before, I do not encourage scalping, this is the trading type that most traders are losing, followed by day trading. But do you actually know that you can lessen how you lose money in day trading and this can later lead to making money from trading.
You people know that I do not encourage stop loss. From my experience, I know that it is used by greedy traders.
What I noticed about good traders, they do not check their position often, this is because they use small amount of money to trade. They are very patient and use little or no leverage. They do not trade highly volatile coins.
If you are the type of trader that check your phone or computer screen often in panic, you are not yet a trader but a gambler. Good trading starts from how to manage risks.

Yes you are right many peoples mix gambling with trading. Trading is just a gambling in a suit if your mindset is not proper. I also agree with you about risk management and patience and avoiding emotional trading. But i don't think checking your trade frequently automatically makes someone a gambler. I see many professional traders monitor their positions closely especially during important market events or when managing active risk. Also saying that stop losses are only for greedy traders does not make any sense. A stop loss is simply a risk management tool. The use of stop loss depends on the trading strategy and market conditions and also on the experience of a trader.

[Yorubek]

I was like that when I was new. Often checking the prices through my phone but that's a normal sign that we're serious in what we do.
I don't think that's gambling there but that's also part of the learning experience for a trader how to save time as well.
It doesn't have to be 24/7 of monitoring the market and the prices. But all of those good skills comes from worst experiences like that.

It is normal for a person to make many mistakes in a new situation. After learning about trading day after day, you should learn from the mistakes you make. However, there are many risks involved in trading, which should also be aware of. For example: Avoid using high leverage. I think it is most important to observe the chart instead of looking at the price. This makes it easy to predict the next directions. To be honest, many times when I trade I accidentally make mistakes. And from this mistake I decided later. This reduces a lot of risk and can achieve success through trading.

I think this is the one of the most underrated parts of trading, managing your risk if the money one are trading with is money you can afford to lose one are far less likely to make emotional decisions. A lot of persons focus on strategies but forget that mindset and discipline are just as important risk only what you can afford to lose trading with money one actually need often leads to panic and poor decisions staying within your. Limits makes it easier to think clearly and stick to one's plan.

It is true that most people start trading with the mentality of getting rich quick without being aware of the risks and as a result they face losses quickly. I think it is very important to gain the right knowledge before starting trading. It is not right to make quick decisions based on emotions or greed which only leads a person to face losses. By understanding the volatility of the market and entering at the right time, the amount of risk can be reduced and there is a possibility of making money. It is never right to trading with the necessary money or with the money that we are not able to lose. All the money can be lost due to one wrong decision, so it is wise to trading with money you can afford to lose.