When to know you are a good trader

[I_Anime]

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.

Sound more like spot trader than future trader . Spot trading you can literally go in without the use of stop loss and you will still remain chill , but going into future trading or trading with leverages without any stop loss is just you trying to reckt your trading account .The reason for stop loss as the name implies is to stop losses , reducing losses and preventing it from going at of hand .

Knowing you are good trader is when you have accept the fact that losses is part of the game , and your wins is more than your losses making you a profitable trader .

[Yablee0]

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.

That's true because a good trader don't get carried away by initial good times. All they does is to be more sensitive or pay close attention to their risk management system at all times, and again they're always aware on when to exit when in bad times instead of risking further. However, to be a good trader doesn't illustrate you must be unnecessarily aggressive but the ability to figure out the right thing to do at every point in time. And before I forget, most important thing as an excellent trader is to always trade with the little you can easily give away so you wouldn't be hot.

[Junii]

Yes i agree with what you just said and all these things like stop checking there portfolios and trade in a less volatile coin all these things a person learned it through experience when the market breaks a person's heart into pieces and there emotions numb then a person will be like a profitable trader. Because i believe the style of a market to teach you a lesson is different from the books and indicators because when a person gets liquidated a lot of times then at some point a person stop chasing every move and stop fear over every red candle and also stop trying to get rich from one trade i mean there emotions are came on track.

[fredericktaylor]

Many people think that good trading means being successful or making money every time. In reality, good trading does not mean making money every time. It is very important for a good trader to have a long-term mindset and be aware of risk management before starting trading, enter the market at the right time after seeing volatility, and control emotions at all times.

Entering the market aggressively and trading with excessive risk beyond one's capacity never brings good results, as a trader cannot protect himself from large financial losses. Trading is certainly risky because one wrong decision or action can lead to the loss of all the money, so it is reasonable to trader with money that one can afford to lose.

[BitBakerr1]

Many people think that good trading means being successful or making money every time. In reality, good trading does not mean making money every time. It is very important for a good trader to have a long-term mindset and be aware of risk management before starting trading, enter the market at the right time after seeing volatility, and control emotions at all times.

Entering the market aggressively and trading with excessive risk beyond one's capacity never brings good results, as a trader cannot protect himself from large financial losses. Trading is certainly risky because one wrong decision or action can lead to the loss of all the money, so it is reasonable to trader with money that one can afford to lose.

What are you actually saying and what do you mean by gaining money from trading regularly does not mean that you are a good trader.

Before you can start making money from trading regularly it means that you are already a good trader and you also have all the things that you have mentioned.
Do you know how difficult it is to regularly make money in trading? It seems that you don’t really understand how difficult it is for a reader to constantly make money, the only people who do that are those traders that are very good.

So please, those who are constantly making money from trading are very good in trading.
good trading means being successful or making money every time, if you are not good in trading you can’t do it.

[Arenga pinnata]

Many people think that good trading means being successful or making money every time. In reality, good trading does not mean making money every time. It is very important for a good trader to have a long-term mindset and be aware of risk management before starting trading, enter the market at the right time after seeing volatility, and control emotions at all times.

Entering the market aggressively and trading with excessive risk beyond one's capacity never brings good results, as a trader cannot protect himself from large financial losses. Trading is certainly risky because one wrong decision or action can lead to the loss of all the money, so it is reasonable to trader with money that one can afford to lose.

One thing that’s clear about a good trader is that they are disciplined in their trading itself, in the sense that they follow a very strict risk management strategy and never deviate from it; they don’t let their emotions get the better of them because they have good emotional control; and they only use a moderate amount of capital and avoid excessive leverage because they have a solid understanding of money and risk management and apply these principles with great discipline. However not every trader is capable of doing all of that.

Sometimes a trader is disciplined enough in risk management but struggles to keep their emotions in check. Still, I believe that ultimately, the best traders are those who can make money. after all, trading is meant to generate profit. The most important thing is to avoid being impulsive or overly aggressive, as these two traits often lead traders to quickly lose all their money in the market.

[RockBell]

Since we won't lie to ourselves and it is preferable for us to recognize that you don't, traders should be able to evaluate themselves and determine whether they are good traders or not. You won't need to worry about how you handle things when it comes to trading because most people make mistakes that cost them money. Therefore, whatever you are doing, make sure you are not overdoing it to impress anyone. Instead of trying to prove anything to anyone, it would be better for you to actually find a way of doing things because mistakes will cost you money. It is better to even use what you can afford to lose.

[Mr_Brilliant$]

What if my strategy wants me to be checking the chat frequently, does that make me a good trader? The main thing here is he is trading the right way. A trading behavior is very different from a good trader. You might ask who is now a good trader and what is the trader that has good behavior. One most understand that a good trader it's someone that knows how to trade while a trader with good behavior is a trader that follows his laid down rules.

[Popkon6]

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 think the main asset of traders is patience, then their money. A person who does not have patience will not hesitate to lose money, will take trades in any market situation and if the market dumps in a moment, he will start losing money because he does not have patience. Patience is the only main source in trading, if you want to lead yourself to success then you must be patient.
However, day trading is very risky, and not all traders can profit here because they do not have the ability to take enough risk and patience. Only those who have enough knowledge to research the market can be successful in day trading.

[Obari]

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.

Don't you think managing risk has to do with using stop loss ? Just asking

Scalping to me is total gambling

When you talk about using small amount, it gets confusing because I would rather say that, you should use the amount you can afford to loss because for someone who has over $500k in balance, using $10k for a single position can be considered small to him right but someone who has $1k might consider $100 as huge, don't you think so ?

I'm just thinking widely don't take it personally.

[Doll2233]

Many people think that good trading means being successful or making money every time. In reality, good trading does not mean making money every time. It is very important for a good trader to have a long-term mindset and be aware of risk management before starting trading, enter the market at the right time after seeing volatility, and control emotions at all times.

Entering the market aggressively and trading with excessive risk beyond one's capacity never brings good results, as a trader cannot protect himself from large financial losses. Trading is certainly risky because one wrong decision or action can lead to the loss of all the money, so it is reasonable to trader with money that one can afford to lose.

Yes, good trading shouldn't be judged by being in profit. In trading losses are a big part of it . One failure doesn't mean someone is not good. But focus should be more on risk management rather than just finding the right time to enter. One can have a good analysis and still take a loss now what matters the most is risk management was that loss is in his risk management. Trading aggressively can effect our decision making and we can risk our whole capital.So instead of trying to avoid loss make sure one wrong decision does not affect our whole capital.

[Tamaperdana]

Snip

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 admit it's true that when I first started trading, I couldn't resist constantly checking my trading positions. I was afraid the market price wouldn't move as I wanted, or I was afraid I'd make a profit but not cash it in. That's why I always checked my phone while trading. But now, fortunately, that's no longer the case, as I've better understood the patterns and strategies. Furthermore, I often day trade instead of scalping. It's certainly better and more reassuring. But that's clearly not enough. To be safe, we still need to set a stop-loss order. It's a barrier that prevents us from experiencing excessive losses, or even a margin call in futures trading. So, while many people dislike using stop-loss orders, they're essential. And don't forget to set a take-profit order, which is equally important. That's my personal opinion.

[TheUltraElite]

What if my strategy wants me to be checking the chat frequently, does that make me a good trader? The main thing here is he is trading the right way. A trading behavior is very different from a good trader. You might ask who is now a good trader and what is the trader that has good behavior. One most understand that a good trader it's someone that knows how to trade while a trader with good behavior is a trader that follows his laid down rules.

If you are checking chats to see what others are saying about a trade or what others are doing which you might miss out, it shows something bad.

While a lot of trades are using signal groups, almost none are actually making any profit, because these picks are only made to get the owner rich and not the audience.

If you are being patient about trades, have a clear idea how to approach the market during both up and down while money is already into the market, you are doing it right. But going for panic mode buying/selling, going for non-spot trades, will turn you into a bad trader.

[RazerMouseMobile]

What if my strategy wants me to be checking the chat frequently, does that make me a good trader? The main thing here is he is trading the right way. A trading behavior is very different from a good trader. You might ask who is now a good trader and what is the trader that has good behavior. One most understand that a good trader it's someone that knows how to trade while a trader with good behavior is a trader that follows his laid down rules.

I assume that you saying the phrase "trading the right way" means that he's profitable, and if that's the case then it doesn't matter what your strategy is. At the end of the day, we only have one goal here - "TO MAKE MONEY".

A good trader also has a good behavior and you will find both of them to a consistently profitable trader. You can't have only one of them, but you need both of them. Just for context, a trader that has a good behavior might have laid down the rules, but if he's not a good trader then it's useless, and vice-versa. Base on your definition of "good trader", well I guess I can consider myself as a good trader then since I know how to trade, but as for good behavior? Hmmm, there are still times where I don't follow my own rules, and that's the one thing that I need to change to myself.

[Showlove01]

If you are checking chats to see what others are saying about a trade or what others are doing which you might miss out, it shows something bad.

While a lot of trades are using signal groups, almost none are actually making any profit, because these picks are only made to get the owner rich and not the audience.

If you are being patient about trades, have a clear idea how to approach the market during both up and down while money is already into the market, you are doing it right. But going for panic mode buying/selling, going for non-spot trades, will turn you into a bad trader.

Yea checking what others are doing sometimes can be bad if their bias is different from your bias or if what you are seeing in the chat is saying a different thing, and sometimes you can not tell if you are wrong or if those people are right or wrong but in clear sense everyone bias should be the same if the price is bullish or bearish. but i think learning and practicing without comparing..., will be much safer because it will help one know and understand what they did wrong. Using other people's signals is the worst mistake a beginner will ever do because while using signal you will be totally dependent which means that you are not learning rather you are just following anything they gave you.

[nara1892]

When I see that the amount of my losses is less than usual, this is one of the results that can be used as a benchmark that my involvement in trading is getting better, and it also indirectly means that this time I can control myself more and can be more patient in dealing with the market especially when I experience losses.
In my opinion to be a good trading it does not always have to get a lot of profit, can maximize risk management it has also become a picture that you are a good trader because after all trading is a risky activity.

[Pressurizedem]

What if my strategy wants me to be checking the chat frequently, does that make me a good trader? The main thing here is he is trading the right way. A trading behavior is very different from a good trader. You might ask who is now a good trader and what is the trader that has good behavior. One most understand that a good trader it's someone that knows how to trade while a trader with good behavior is a trader that follows his laid down rules.

You are correct about your assertion on who a good trader is, and I will throw might lights on your opinion. A good trader is someone who have known the risks, taken the risks, and know a way of investing without much failures. I know everyone who trades loses money at one point in time, but when proves that he is good at his business is when he trades without much loses and that will only happen because he has known all the little errors that causes trading loss and is able to avert it.

Knowing you are a good trader is when you have traded so many times and the number of times loss is fewer than the times gained. You must have experience in trading to be able to know all these things, and also be able to know what normally cause your loss when trading. That is when you can see yourself as a good trader.

[jossiel]

When I see that the amount of my losses is less than usual, this is one of the results that can be used as a benchmark that my involvement in trading is getting better, and it also indirectly means that this time I can control myself more and can be more patient in dealing with the market especially when I experience losses.

It's a good recognition that your usual losses is less.

And that means that you're improving as a trader. While there are traders who can't boost their egos towards this one and they're having a hard time accepting the losses.

Little improvement is better than there's none at all. Appreciating yourself seeing that you've become more patient and controlling shows how becoming good you are.

[Woodie]

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.

Don't you think this is unfair to say, because you just pointed out the 3 types of traders that are out there i.e: scalpers, day traders and swing traders..each one of them have their own pros and cons! For example if you pick out swing trading this one is best suited for someone that has a day job and has no time checking on charts because its a set and forget and hitting a take profit would mean taking several days as you trading on higher timeframes like the 4hour which would be not ideal for someone that has time for the charts..then day trading and scalping not much of a difference because the idea is almost the same to have trades completed within the day.

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.

No stop loss is only good when you are usually correct on your analysis and avoiding the stop hunts that usually take traders out then price goes in that direction , but again not trading with one shows you lack risk management skills and have no confidence in your analysis...but I understand what you mean and seen this approach favour alot of traders.

[Powerjumboo]

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.

I have never considered myself a trader, because I do not have much experience in trading. I have not traded much in my life, I have traded for a few days just to learn, but there I used myself to learn, not to make money. I have done spot trading and I did it with very small amounts of money. I did it with coins like Bitcoin. I have not traded with any other coins, because I have seen that all other coins are very risky and can harm us. But to learn, I would tell every trader, it is better to start with small amounts of money. You should not learn trading with large amounts of money and you should never be overly greedy on the trading platform. But if a beginner continues his experience like this, then I think he will learn something.