Which Skill Has Contributed Most to Your Success in Crypto?

[kingstep]

One thing I've noticed is that people don't all reach the same results in crypto for the same reasons.

Some people seem to excel because they're good at trading or that they are good at technical analysis or that they are good at digging into information and doing their own research. Others benefit more from patience, discipline, risk management, or simply knowing when to stay out of the market.

Looking back on your own journey, if you had to choose one skill that has made the biggest difference for you, what would it be?

I'm not asking what sounds best on paper, but what has genuinely had the biggest impact on your decisions and outcomes. i know it is likely not always the trading and technical skill that gives you all the positives you have had in crypto right?

[Karl_3000]

Some people seem to excel because they're good at trading or that they are good at technical analysis or that they are good at digging into information and doing their own research. Others benefit more from patience, discipline, risk management, or simply knowing when to stay out of the market.

Trading will only make some people poor, it is not good to trade especially if you are losing all the time. Just stop trading and focus on investment is a very good solution.

Looking back on your own journey, if you had to choose one skill that has made the biggest difference for you, what would it be?

Holding bitcoin has been what that helped me the most, which is not what I consider as a skill because it is very easy and not time consuming to invest in bitcoin.

[OcTradism]

One thing I've noticed is that people don't all reach the same results in crypto for the same reasons.

Some people seem to excel because they're good at trading or that they are good at technical analysis or that they are good at digging into information and doing their own research. Others benefit more from patience, discipline, risk management, or simply knowing when to stay out of the market.

Knowing when to stay out of the market sounds like for trading and traders, not for investing and investors.

Because with Bitcoin investors, it's good if they are going long term with Bitcoin and their Bitcoin investment, that means they regularly and continuously accumulate bitcoin over time. They with good knowledge and experience won't likely feel fearful with market crashes and bear market because such market conditions and time are greatest opportunities for accumulation, very possible with Dollar Cost Averaging strategy.

With traders, it's sure that trading is more risky than investing, and traders must know how to stay out of the market like you said. Meanwhile, all traders must use stop loss order or stop limit order to protect their trading capital, minimize loss as best as possible.

[Guide] Stop loss order: one of best weapons in trading.[url]

[Somegory]

Been selflessness and willing to learning, I'm also not afraid of making mistakes unlike how we are thought in school like making mistakes and failure is a demonic spirit feeding on our souls.

Even when I lose big or I failed, I always look into the world, especially my surroundings, there are too much examples as to why we must not take failure too seriously.

We as humans, are all living on borrowed time, someone I knew finally build his dream house, he has been on it for the past 8 years and right after he finished it he died.

A uncle of mine promised to take me out of the country after he finally got his visa to work abroad, few months to the date he promised he died, it's already a blessing that we are alive.

[michellee]

I benefit from patience, discipline in investment side and a little skills in trading. But if I had to choose one skill, I will choose patience while investing in Bitcoin because that gives me a nice result in my journey. I can hodl for a long term since few years ago and sell at a new ATH although I don't get the real ATH but that still high price.

I am not too good in trading. Sometime I profit but other time I lose but I guess that still profit. But I am not a daily trader and only occasionally especially if market moves good or rally on the high price.

[lovesmayfamilis]

I can't say that I am particularly successful in cryptocurrency, but yes, I have always appreciated the skills that my parents passed on to me: neatness and lack of fuss everywhere, as well as the absence of features characteristic of scammers. I don't put money first, but I am genuinely interested in some things that help me in life. The forum community helped me broaden my horizons and look at the lives of many people, and also taught me patience, which was useful to me not only in the online environment, but also in real life.  Perhaps these are not some kind of material skills, but communication with different people has played a significant role in my success, which, although not necessarily in terms of wealth, naturally affects my inner well-being.

[Nathrixxx]

One thing I've noticed is that people don't all reach the same results in crypto for the same reasons.

You can't expect everyone in cryptocurrency to have the same results because we all do different things in it, that is why we are all under the coverage of cryptocurrency but the strategy and what we do differs from each other, our level of insights are also different and you can't expect such to be and we have same results as well, while other factors as you mentioned like discipline among others are also crucial and vital aspect of cryptocurrency that determines individual success in it.

[ImGenius]

I know it is likely not always the trading and technical skill that gives you all the positives you have had in crypto right?

In short term crypto trading there isn't a single best skill Even then if I have to choose one skill then it would be risk management. Through risk management we can save our whole capital by limiting our trades.

In the crypto trading we have to fight with the whole world in that fight we must take the right decision before others. It is a kind of reading what will be the next decision of a other traders if somehow these things can be mastered then at some point a person becomes a real trader who rarely loses.

[Zoomic]

Looking back on your own journey, if you had to choose one skill that has made the biggest difference for you, what would it be?

I'm not asking what sounds best on paper, but what has genuinely had the biggest impact on your decisions and outcomes. i know it is likely not always the trading and technical skill that gives you all the positives you have had in crypto right?

It might not be a skill,
it might be a virtue or a character, but I learnt it from this forum.

That is, planning longtime, being consistent with DCA and being patient.
These skills or characters have really helped me.

[aoluain]

For me I think being able to ignore the daily market charts has removed the stress
and anxiety I had in the earlier days.

Having a mindset of being able to HODL and to have a long term outlook has taken
away the stress and anxiety of whether I should sell.

Being patient also feeds into having a long term outlook, both go hand in hand really.

[rat03gopoh]

Crypto encompasses many profitable aspects, not just value, charts, geopolitics, and market cycles; even your skills can be sold for crypto.
I enjoy my crypto earnings almost every week; I don't mean to hold onto them, but to actually spend them. I feel truly successful in capitalizing on the crypto industry every time.

[Franctoshi]

My trading skills of course because it taught me a lot of this ....risk management, discipline, patience, timing, good entry and good exit, also with the knowledge, I now know how interest can affect my decision as an investor, thought me a bit of economic and whole lot of other stuff.

[Vaculin]

There is always an advantage if you clearly know what you are doing. Despite of a risky market, being patient leads me to a more secured and profitable investment through DCAing and long term hodling. Not only it paves way for my crypto success, it also gives me the opportunity to understand more how such volatile investment can turn a game-changing asset that we can rely for our future.

Buying and long-term hodling may not be that highly risky, but you will be surprised with how valuable and profitable the future outcome is.

[The Cryptovator]

Looking back on your own journey, if you had to choose one skill that has made the biggest difference for you, what would it be?

I'm not asking what sounds best on paper, but what has genuinely had the biggest impact on your decisions and outcomes. i know it is likely not always the trading and technical skill that gives you all the positives you have had in crypto right?

To be honest, it's patience for me. I am not a good trader or a good analyst. But when my trade goes wrong, then I consider them my holdings. That means I don't sell them at a loss; rather, I hold until I get profits from that holding. Sometimes it does cost me a lot when the coin price never recovers. That's why I don't often trade shitcoins nowadays. Only choose from the top that are unlikely to go to zero.

I have learnt a costly lesson, and still I am holding one that's likely not going to recover. But still I have hope since it's not a shitcoin exactly. But from my holdings I made some decent money as well. Remember, whatever your strategy doesn't mean you will gain always. Sometimes you may be lost as well from where you have to take the lesson.

[JeffBrad12]

Biggest difference come from my patience buying bitcoin at bearish, accumulating it and waiting until peak, I still hold good amount but I won't lie the biggest profit I get is from holding instead of trading because once bitcoin took off, 400% profit is easy, multiply that to your life saving and you couled easily retire yourslef.
I will recommend people to try holding from bearish up until new all time high, you just need to buy and do nothing to make massive profit.

[Awaklara]

I'm not asking what sounds best on paper, but what has genuinely had the biggest impact on your decisions and outcomes. i know it is likely not always the trading and technical skill that gives you all the positives you have had in crypto right?

Indeed, analytical and research skills give every trader more confidence. But at that time, I felt like all I wanted to do was keep trading. Doing it every day, but the results actually made it harder to make a profit. So I guess what changed me in trading was the way I see the moment to enter, or having to hold off on the urge to trade. I realized that the more often you trade, it’s not a guarantee that you’ll make more.

[Nahl]

patience, discipline and risk management is important element if want to success in trading that because although you were good on technical analysis but don't have those things which i mentioned above, eventually the traders will suffered big lost and give up.

For me personally i cannot call say myself a good trader that because during my trading journey my experience quite often to lost rather than profit but so far i have success to managed my patience and discipline and the effect is while trading, i can more wise to make the decision about the loses and the profit

[TheUltraElite]

All these factors are important but the major importance goes to patience and knowing when to move and when to not. Because trading has become all about timing. If you buy at the correct time and price and sell at the correct price you will profit, otherwise you are just beating around the bush collecting the asset at random prices and being able to sell properly.

Patience and observation over years will teach you that the bitcoin market will never remain down but will continue to go upwards only. Hence the more you buy at the lower sides the better your profits on selling will be.

Dont be the person who buys because someone told them so, buy because you observed the market and found a drop happening that led to people cashing out and you got the coin at a discount.

[VarJames]

risk management + risk management + risk management

I’ve gone through periods where I was heavily involved in trading, and twice I almost completely destroyed my trading account. Not because I could not read charts, but because I took too much risk and became overconfident.

You can have a good entry, good analysis, and even predict the market direction correctly, but if your position size is wrong or leverage is too high, one mistake can wipe out months of work.

That experience taught me that trading is not about being right all the time. It is about staying in the game long enough for your edge to work.

A trader without risk management is basically just a gambler with better tools.

[BitMaxz]

risk management + risk management + risk management

I’ve gone through periods where I was heavily involved in trading, and twice I almost completely destroyed my trading account. Not because I could not read charts, but because I took too much risk and became overconfident.

You can have a good entry, good analysis, and even predict the market direction correctly, but if your position size is wrong or leverage is too high, one mistake can wipe out months of work.

That experience taught me that trading is not about being right all the time. It is about staying in the game long enough for your edge to work.

A trader without risk management is basically just a gambler with better tools.

Yeah right, it is a part of the game. Risk management is crucial to avoid unexpected turns and bad trades, but this isn't enough because even if you include risk management, if you are overtrading, you will end up the same as those people who keep holding a position and can't accept the loss.

If you have a set of rules including risk management, you should strictly follow them and be disciplined at least to filter out all bad trades and increase your winning rate.
Remember the market is always there; you don't need to rush entering the market.