When to know you are a good trader

[YOSHIE]

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, I understand the consequences of risk in crypto trading activities, one success for us, we are aware that crypto trading is very susceptible to risks that can occur at any time, but if all of that can be overcome, of course the profits will flow and it will be a success for us.

Trading on the crypto market does look easy to buy and sell, but that's not the problem, there are several features that can mess up the charts, the volume is more dangerous, so if we can overcome the obstacles, it will certainly be a real success for us.

[Cgrexp]

In my opinion, a good trader is one who can manage their ego and emotions, not force the situation when there is no opportunity to open a position, trade with an amount of 2% of capital, do not try to recover losses quickly, understand that losses are very normal, evaluate mistakes when experiencing losses, always be patient when waiting for the right moment and set a stop loss every time I open a trade. So far I have not been able to have all of the above aspects, the most difficult for me is evaluating every loss I experience so often I get stuck in the same situation.

I support your opinion, trading can be difficult at times and losses are absolutely inevitable no matter how knowledgeable a trader might looks losses is part of the journey. As a trader one need to know how to maintain their emotions and feelings because when a trader losses control of their emotions and feelings then losses has the chances of falling in rapidly and drastically.
 As a trader applying stop loss to our positions is one of the strong way of avoiding more loses, applying stop loss to our position helps to reduce our chances of losing and it helps to keep our equity in a good form. And patience on the other hand helps us to maintain a good balance journey because we wouldn’t rush into making some inappropriate decisions.

Since none of us know when and how the price of Bitcoin will fluctuate, there is uncertainty. If someone wants to trade, they should do it with money that they are prepared to lose. People become frustrated and emotional when they find out that they have suffered a financial loss. Most traders react to financial losses because this loss of money will affect their lifestyle. The biggest mistake of most traders is that they only think about profits and invest beyond their means. It is not enough to make money or survive in trading by just analyzing the market. In addition, a trader must accept his losses naturally, control his emotions and wait for opportunities.

[Dr.Bitcoin_Strange]

Scalpers are more like those people referred to as flippers, they usually claims that they can flip $100 to more than $1k within a week of trading, sometimes a very few lucky scalpers can pull that stunt but such trading patterns is not sustainable, it's more like gambling because the person is not really disciplined in trading, they are not good in taking risk and can lose everything at once. I'm more of a day trader but it's not easy to be successful, I do apply stop lose and I don't see it as being greedy but I just see it as part of my strategy, I'm not responsible for what every the market chose to do but I know that at the end of my trading period on a daily basis, two things must happen, either the trade hits my take profit target or hit my stop lose.

[BlackBaron]

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, I understand the consequences of risk in crypto trading activities, one success for us, we are aware that crypto trading is very susceptible to risks that can occur at any time, but if all of that can be overcome, of course the profits will flow and it will be a success for us.

Trading on the crypto market does look easy to buy and sell, but that's not the problem, there are several features that can mess up the charts, the volume is more dangerous, so if we can overcome the obstacles, it will certainly be a real success for us.

A true trader should no longer panic when observing the market, even when in a losing position, because they already know their limits in terms of how much they can tolerate or afford to lose. However, novice traders tend to panic even when their trades are profitable.

They will inevitably want to quickly take profits, even if they haven't reached their analytical targets. And this panic is difficult to overcome if they are not prepared for all the risks involved. Therefore, it is recommended that if you want to trade, you must be prepared for all risks, especially when it comes to maintaining financial management.

[Dareo]

I agree with some of your points particularly the risk management. Many new traders scalped using high leverage or speculate in hope of getting quick profit, but in reality, it is also more stressful and the likelihood of making mistakes is also more. However I have a slightly different opinion of Stop Loss, I think it is not the domain of greedy traders, but rather a tool for limiting risk. Because the market does not always go as per our plans, So if one sets his risk limit in advance then it is easier to protect himself from big losses.

[Byebyebtc]

Scalpers are more like those people referred to as flippers, they usually claims that they can flip $100 to more than $1k within a week of trading, sometimes a very few lucky scalpers can pull that stunt but such trading patterns is not sustainable, it's more like gambling because the person is not really disciplined in trading, they are not good in taking risk and can lose everything at once. I'm more of a day trader but it's not easy to be successful, I do apply stop lose and I don't see it as being greedy but I just see it as part of my strategy, I'm not responsible for what every the market chose to do but I know that at the end of my trading period on a daily basis, two things must happen, either the trade hits my take profit target or hit my stop lose.

I agree with you, trading isn't really an easy skill to learn, before one will become profitable he will place a whole lot of stages that can be emotionally, mentally and physically draining

So when someone uses stop loss, it is only for the best, because imagine something being as hard as this and you still loose a whole lot of money that can be clearly avoided. So I totally support the use of stop loss.

[dunfida]

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, I understand the consequences of risk in crypto trading activities, one success for us, we are aware that crypto trading is very susceptible to risks that can occur at any time, but if all of that can be overcome, of course the profits will flow and it will be a success for us.

Trading on the crypto market does look easy to buy and sell, but that's not the problem, there are several features that can mess up the charts, the volume is more dangerous, so if we can overcome the obstacles, it will certainly be a real success for us.

A true trader should no longer panic when observing the market, even when in a losing position, because they already know their limits in terms of how much they can tolerate or afford to lose. However, novice traders tend to panic even when their trades are profitable.

They will inevitably want to quickly take profits, even if they haven't reached their analytical targets. And this panic is difficult to overcome if they are not prepared for all the risks involved. Therefore, it is recommended that if you want to trade, you must be prepared for all risks, especially when it comes to maintaining financial management.

Once you do have established yourself when it comes to emotion then you wont really be easily to panic at the moment that you would be able to face up the market volatileness. Dont hurry up yourself on becoming profitable because this would really be just that making you impatient and thats something that would be that resulting into excessive trades or overtrading on which it would be resulting into errors. Becoming a good trader isnt something that you would be able to achieve in a short time period on which you would defnitely be passing through tons of loses first and having those errors on which you would eventually be able to learn from that but of course it would be just that depending on a certain trader whether they would really be that trying out to learn from their mistakes or they would really be just eventually do give up.

What matter most on here is that you do able to sustain yourself when it comes to different bad scenarions on which it could eventually make you that easily give up or you would be that losing hope. Therefore, you should be mindful with that and wont be that easily be affected.

[BlackBaron]

A true trader should no longer panic when observing the market, even when in a losing position, because they already know their limits in terms of how much they can tolerate or afford to lose. However, novice traders tend to panic even when their trades are profitable.

They will inevitably want to quickly take profits, even if they haven't reached their analytical targets. And this panic is difficult to overcome if they are not prepared for all the risks involved. Therefore, it is recommended that if you want to trade, you must be prepared for all risks, especially when it comes to maintaining financial management.

Once you do have established yourself when it comes to emotion then you wont really be easily to panic at the moment that you would be able to face up the market volatileness. Dont hurry up yourself on becoming profitable because this would really be just that making you impatient and thats something that would be that resulting into excessive trades or overtrading on which it would be resulting into errors. Becoming a good trader isnt something that you would be able to achieve in a short time period on which you would defnitely be passing through tons of loses first and having those errors on which you would eventually be able to learn from that but of course it would be just that depending on a certain trader whether they would really be that trying out to learn from their mistakes or they would really be just eventually do give up.

What matter most on here is that you do able to sustain yourself when it comes to different bad scenarions on which it could eventually make you that easily give up or you would be that losing hope. Therefore, you should be mindful with that and wont be that easily be affected.

Yes, that's true, because I was in that position myself when I first started learning about this space. At that time, I would quickly close my investment or trade at a loss, even though I could actually afford the loss. And you know what happened next? Moments later, the price rose dramatically, which ultimately made me regret having closed the position too quickly due to my panic and fear.

This was a very valuable lesson for me, because what I experienced at that time ultimately became something that made me a better person today.

[gunhell16]

In my opinion, you don't have to be expert traders just to be said to be good traders; maybe just getting used to putting SL and TP is enough with some knowledge of trading. Of course that's okay, because for sure we will still get a decent profit in the end.

Because at the end of the day, what they say about expert traders is that they still lose in reality. As long as SL is really something, we should get used to doing it as much as possible, because once we get used to it, even if we lose, we will still recover the losses we lost in the end.

[Abu-Naim]

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.

That means a good trader is a trader who doesn’t want quick profit in their trading based in your explanation because most traders will hardly use small or no leverage in their trading position and most of them don’t actually use big amount as you said, but the majority of the traders I know are not overlooking their trades; most of them keep monitoring the trade until they either get out of the trade or take their profits, only few traders do leave their position opens fir long and go and do their other activities. Maybe is because if the confidence they have in their analysis and because they are using little amount that they can afford to lose; but they are not after bigger profits as you said.
I am not a good trader because I am still learning, and I do always monitor my trades that’s why I don’t trade at night when I am about to sleep, my eyes will be open  because I will keep staring at my wallet and the trade.

[cryptoaddictchie]

Scalpers are more like those people referred to as flippers, they usually claims that they can flip $100 to more than $1k within a week of trading, sometimes a very few lucky scalpers can pull that stunt but such trading patterns is not sustainable, it's more like gambling because the person is not really disciplined in trading

I did scalping and the range you mentioned is quite possible. Yes it could take days but if you used some bit of charting not so technical but atleast got idea on potential movement you can earn by buy low sell high. Theres no difference with daily trading as it both poses risks either your are scalper or a day trader. Well it depends on ones caliber to predict pattern and utilized that as advantage to scalping.

[The Cryptovator]

From my perspective, scalping isn't suitable for me. Because I don't feel secure with scalping, rather I do swing trades or hold for longer. I can't assure you whether I am a good trader or not, but I call myself a trader. Because I have been trying to buy at a lower price and sell at a higher price. For that, sometimes I need to wait longer, but waiting doesn't matter for me.

I do believe if I don't have enough patience, then it's quite impossible for me to make money from the trading. Day trading or scalping would be better for highly skilled traders or experienced traders. But most general traders have been losing funds to scalping, in my opinion. However, everyone should have their own strategy for the trading; then probably you would be a good trader.

[vanesha]

In my opinion, a good trader is someone who is good at managing emotions, making decisions, and is confident in those decisions. These three elements are essential for a trader because trading isn't just about buying and selling. Assets are goods. We must understand market conditions, market needs, why we're buying, current trends, and much more. It's not just about buying when they're up and selling when they're green. If trading were that simple, many would have become rich from trading. The reality is, it's not.

[tygeade]

A true trader should no longer panic when observing the market, even when in a losing position, because they already know their limits in terms of how much they can tolerate or afford to lose. However, novice traders tend to panic even when their trades are profitable.

They will inevitably want to quickly take profits, even if they haven't reached their analytical targets. And this panic is difficult to overcome if they are not prepared for all the risks involved. Therefore, it is recommended that if you want to trade, you must be prepared for all risks, especially when it comes to maintaining financial management.

This is gained by experience by seeing things move like that on the long run. I know that its not going to be all that complicated because when you see the market go up and down a million times over course of few years, you end up getting a lot more used to it and stop caring about price and do not panic about it. Yes, it is not that common for people to do something like that for the long term because you can't have that right away, but you will get it with time for sure. This should be the key thing to care about when talking about panic, its mostly the newbies that does that.

A good trader cannot be a profitable trader in my perspective. It means, you may protect your capital and may slowly multiplying it whereas profitable trader may face losses time to time still must be achieving decent profits on monthly or weekly basis. So, being profitable trader is more important rather than just being a good trader.

[Josefjix]

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.

Exactly, it's the reason why I choose to only trade on a long term basis, staying on the screen for too long isn't ideal for me at all, even though such trader is getting it cleared in daily trading, been able to consistently facing the screen while practicing what puts you into panic mood doesn't suits me at all.

I find holders the best traders, I don't mind how long it takes, but been able to hold large quantity of good crypto for longer period of time is the perfect trading experience I can only say and do.

[MinMan]

Not trading with emotions, or gut feeling, or what some twitter influencer, or what some TikTok trader told you. That's the number one biggest step to actual trading, you do trading because you have seen some actual data that you should be trading. Chart reading, indicators, any type of analysis would work, as long as you are doing that, instead of just wrong reasons to buy something, and you are going to be considered a good trader.

It would also be a big plus if you could also make some money from it as well, but if you are not, you are still on your way to make some. Because anyone who does proper analysis would make money, and you may or may not be doing now, but with more time, you will be able to do that for sure.

[Dzwaafu11]

I used to think I was a good trader because I managed to make a profit every day.
However, I gradually realised that the profit earned is not an indicator of a good trader, because when the market turns bearish, the situation can reverse drastically and only losses are incurred.
A good trader is one who can control their emotions, does not get caught up in panic, always sticks to the limits they have set, and is never greedy.

Is good you realized that a good trader is not about who always make profit, you were making profit everyday because the market condition was still good. However, a good trader is just as you said, what you mentioned which is emotions, and how to manage risk, although many traders main problem is the emotion management, many didn’t really have the mind to trade.

And they don’t really understand how to manage their emotions when they are loosing, or even when they are making profit. Reason is that, if they are in profit, they will trade what they can’t afford to lose, and when they loose they will start panicking, that’s not a good sign of a good trader.

[Ndabagi01]

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

Stop loss are not for greedy traders in my own assertion, it is used in order to manage your trade not falling into making more losses that you’ve planned to take in a particular trade. Stop loss are important fir traders, it makes you stay longer in the market not to procure more loss beyond which you can take as a trader in a single or more trades.

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.

I don’t think so, even if you’re able to manage your risk as a trader, your eyes will still be glued to the market, not because you’re not certain of the trade you’ve placed but to also check to see possible reversal signs in the market that may put your trade at disadvantage even though you’ve gotten everything all right from the onset.

[Kelvinid]

One can only be called a good trader if he is no longer a trying hard trader, which means you are trading because you are already equipped with sufficient amount of knowledge, enhanced skills and strategies, and most importantly you are trading within the right timing because you have learned already that patience plays a vital role in trading.

And you are no longer trading in losses, as most of your trades have turned into profitable ones.

[Out of mind]

It is not possible to be a good trader only by making profits, but rather to consistently make the right decisions and control your risk in all aspects. Trading should never be done with your mind, but trading with your head and intelligence is the best and the risk is less. You have to control your emotions so that the market does not collapse during instability, but it is better to be patient for some time, there are many people who sell at a loss when the market enters instability.
Every intelligent trader trades according to the plan, especially they never go to trade in the market hastily, but analyze and trade later. To trade, you have to face losses, every person must accept this, so make yourself as patient as possible, and do not trade like gambling, but rather trade with understanding and experience, those who trade using these strategies are basically real traders.