Trading Lessons that Traders should know

[Hamza2424]

Well, experience makes the most effective teacher, but that does not mean that if they lose on their first attempt, eventually they will stop trading. Those who are trading with greed will hardly stop trading, because for them if others have been profitable into trading, then definitely they will also, but the problem is if they can make from those unstoppable losses from trading, most especially if they are trading the wrong way.

It's really a must to have a trading plan or let's say a checklist in trading, so that one will be guided and may lessen the risk, but its not that all traders practice that.

Checklist can fix many things, but greed is not one of them. But there are some checklists, like closing a trade at a specific profit and not thinking about what we could have made if we had not sold. That kind of checklist has to be added.

But writing rules and breaking them is normal practice for newbies. Experience teaches us a lot, but it is really expensive, and most newbies leave early without paying that expense. That's why we should keep our positions small so we can learn the same lesson by paying less.

[I_Anime]

Overall traders need to work on their trading psychology that’s the only when they can do all these that was listed and explained by OP . Like reducing trading too much and focusing only on A+ setup , that will worth the risk like taken higher risk to reward ratio .

In trading skill alone won’t save you , that’s where most traders are getting it wrong they think with just the skill they are good to go neglecting the fact that trading is more of a psychological game too with the wrong psychology you will get yourself messed up .

[Natalim]

Overall traders need to work on their trading psychology that’s the only when they can do all these that was listed and explained by OP . Like reducing trading too much and focusing only on A+ setup , that will worth the risk like taken higher risk to reward ratio .

In trading skill alone won’t save you , that’s where most traders are getting it wrong they think with just the skill they are good to go neglecting the fact that trading is more of a psychological game too with the wrong psychology you will get yourself messed up .

Trading does not showcase only those who are skillful and strategic traders, but having patience, strict discipline and good risk management will definitely equipped the trader more and make him a reliable trader.

Trading psychology may not be well-discussed in the forum, but in reality, a trader with no good trading psychology will turn a useless trader. Skills and strategies won't be sustainable in trading, traders should also be well-equipped with good trading psychology to completely achieve the success in trading.

[Faisal2202]

Obviously trading is not an activity of luck (although sometimes luck is useful) but in most of the time the profit always depends on how much knowledge, skills you have, although this method is not always profitable but that is how to treat trading correctly, but to be able to achieve success of course many things must be prepared, you have mentioned some of them and the most important in my opinion is risk management, as the saying goes that "maintaining is much harder than getting".

Easy come, easy go. Many people think making money from trading is "easy come," that's why they think traders easily lose it. I have encountered many comments like this, but they have not tried trading even once. They think it is easy money, but I say it is even harder than doing an 8 hour shift as a laborer.

I have done many things in my life, and education is harder than labor. I have done both. For me, doing physical work was easier, but that does not mean I left my studies. Instead, I was still doing the difficult part. With that knowledge, people build things, or at least build their confidence first.

Which is important. In the same way, confidence is important in trading, which seems easy in the eyes of those who do not trade.

[Questat]

Overall traders need to work on their trading psychology that’s the only when they can do all these that was listed and explained by OP . Like reducing trading too much and focusing only on A+ setup , that will worth the risk like taken higher risk to reward ratio .

In trading skill alone won’t save you , that’s where most traders are getting it wrong they think with just the skill they are good to go neglecting the fact that trading is more of a psychological game too with the wrong psychology you will get yourself messed up .

Mastering skills alone will only lead to overconfidence and revenge trading, that's why its not sufficient alone to succeed in trading.

But if we have the right trading psychology that will help us overcome destructive emotions, incur discipline and risk management, as well as build resilience ensuring long-term consistency, then trading will be successful and sustainable together with our knowledge and skills in trading.

[cyberninja2]

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Trading does not showcase only those who are skillful and strategic traders, but having patience, strict discipline and good risk management will definitely equipped the trader more and make him a reliable trader.

Trading psychology may not be well-discussed in the forum, but in reality, a trader with no good trading psychology will turn a useless trader. Skills and strategies won't be sustainable in trading, traders should also be well-equipped with good trading psychology to completely achieve the success in trading.

For those who trade they don't need to overly appear as great traders. Trading simply requires patience and discipline in managing their time. Therefore if they're even slightly careless I think they'll suffer losses. This is why many say that before starting trading it's better to seek out or approach experienced traders so that when they begin they won't feel confused about their goals.

There is no need to discuss it just what they need is that when they trade they better display the advantages in terms of the knowledge they have regarding the trading they want to develop. This aims to enable them to do it for the next stage because if they fail once in doing it I think they will start to get bored of continuing the struggle for the second time because the goal when they did it the first time was to be able to reach the point of success in achieving their goals in trading.

[Ziskinberg]

For me, the first lesson I learned was that trading was one of the jobs that needs a lot of monitoring, and I think that's one of the reasons that I stopped it. It went to a point that I didn't sleep for a day, and I missed going to work because I was too groggy to go.

Anyway, one of the good points there is number 5. The waiting game. How long of a patience can a trader have. It's not like it will move according to how we predicted it. There are instances when it will come late, so we cannot panic and just sell out because we are losing. Reading the market is very important in those instances, and I think the decisions will be crucial at every point of the trade.

That's the reason why trading is not for everyone, it requires more time and attention, aside from having prior knowledge and skills, even if means having sleepless nights so you won't miss certain opportunities in trading. Some are still good and flexible enough to manage their time, while others could possibly be trying hard for the sake of future profits in trading.

Patience is a crucial factor in trading. If you can't be patient, hence you will most likely find it hard to timing the market and find perfect opportunities to trade.

[Dr.Bitcoin_Strange]

Over trading and impulse trading is one character that a trader must kill to become profitable, initially when I newly started trading, each time the market gives a clean move in my absence, I would see it as an opportunity that I have missed and so I will want to pay more attention to the market and take more trades to cover for the previous market movement that I missed out on. Despite doing all that, I was unprofitable but I learned that pro traders are patients to wait for their right opportunity. Another thing to know is that, before you take a trade, you should already know the levels where you expect to take profit so that price won't reverse on you after getting there.

[Bitcoin_people]

A good trader will know the best time to trade not to regret of loss, there are some traders that are regretting for lack of crypto trading despite they have funds to trade but they lack crypto trading because it can cause traders to lose huge amount of funds in crypto trading, make sure you save what will not affect your other businesses, I think it will help you to remain long in crypto trading without quitting crypto trading for the purpose of loss than to learn from the mistakes you make in the past and focus to your future.

Those who are experienced in trading must enter at a time when they know they will not face losses. If people enter the market during market volatility, there is a high possibility of losses if they trade there. Many people try to put their own regrets in such a way that they may be very good at trading but they are not that experienced. Learning is the most important thing in trading. Those who make themselves experienced and gradually move forward towards the future will increase their skills. Everyone has to accept that there will be losses in trading and trade with risk management. Along with losses, you have to control yourself and learn slowly, but I think it is important not to use excess money, but to start trading with less money and gradually become experienced.

[Finebone]

5.  The best Traders WAIT, they don't hunt

I think that you are contradicting yourself here with this statement of your. Trading is all about hunting, and hunting is best describe as waiting patiently for the best opportunity to strike, because you may never make a catch if you are not patient while trading or hunting.

6.  The pre-market routine separates Professionals from Gamblers
These are the traders that before the market open and before the candle form, theyknow exactly what they're gonna do.

Profitable Traders plan and think of the question such as follows ;

* What is the overall market context today?
* What are the key levels  in play on the crypto market that I'm watching?
* What's my plan if the price does this?
* What am I not going to do today

I totally agree with your sentiment about this because without knowing what you are doing, like when to go in and out of the market, and putting down risk management measures like using a stop loss to protect your margin, your trading will be doom to fail even before starting or opening a trade.

[ndutndut]

Everything you've said is excellent, and indeed every trader should possess it. However, you'll gain it all through trading experience because theory alone won't work it must be put into practice to learn from experience.

Furthermore, another trading lesson that traders should know in my opinion is often overlooked. Cutting losses is a key aspect of strategy, not a sign of failure. Many traders often change their stop loss orders because they think there's still hope. In fact, every trader must maintain discipline and avoid quick losses so that small losses don't become disastrous later on.

Furthermore, perhaps mental health issues need to be prioritized as many traders end up sleep deprived, leading to stress. This is very dangerous as trading when emotionally unstable is the beginning of destruction. So, you must know when to take a break and not force yourself to trade every day.

[cyberninja2]

Everything you've said is excellent, and indeed every trader should possess it. However, you'll gain it all through trading experience because theory alone won't work it must be put into practice to learn from experience.

Furthermore, another trading lesson that traders should know in my opinion is often overlooked. Cutting losses is a key aspect of strategy, not a sign of failure. Many traders often change their stop loss orders because they think there's still hope. In fact, every trader must maintain discipline and avoid quick losses so that small losses don't become disastrous later on.

Furthermore, perhaps mental health issues need to be prioritized as many traders end up sleep deprived, leading to stress. This is very dangerous as trading when emotionally unstable is the beginning of destruction. So, you must know when to take a break and not force yourself to trade every day.

I think after understanding what you mean I completely agree. It's like a business owner must educate and provide experience to his employees. Sometimes, these employees can only provide service but don't know what items to buy. It's the same as a trader's experience. If they only talk but don't put it into practice I think they won't last long in trading. Their basic experience is based solely on what they say but they don't actually put it into practice. This will take a long time to learn how to do things correctly and understand trading. Learning experience alone isn't enough to achieve their desired trading goals.

It all depends on their interest in trading. The reason why they neglect it is perhaps their lack of interest in mastering it so what they've learned about it is only enough to talk about it and after that, they no longer care about their goals. Ultimately some aspects of what they discussed don't go according to their plans. However in my opinion it's better because if they continue they will ultimately suffer losses because their interest in avoiding losses is not fully understood.

One of the medicines to be able to develop in the trading that we do is sufficient sleep for them because if the sleep is a little less I think this is true as the tone said that controlling emotions will certainly not be able to let alone prioritizing emotions when we are in trading this is certainly very dangerous for the trading that we are doing so that in the end we experience losses even though our goal is only to get profits this is because we force ourselves too much to keep doing it even though the situation we are experiencing is not very focused because of lack of sleep so it is natural that we experience losses in trading.

[Somto9Light]

Those who are experienced in trading must enter at a time when they know they will not face losses. If people enter the market during market volatility, there is a high possibility of losses if they trade there. Many people try to put their own regrets in such a way that they may be very good at trading but they are not that experienced. Learning is the most important thing in trading. Those who make themselves experienced and gradually move forward towards the future will increase their skills. Everyone has to accept that there will be losses in trading and trade with risk management. Along with losses, you have to control yourself and learn slowly, but I think it is important not to use excess money, but to start trading with less money and gradually become experienced.

Risk management its important, as its just the way for one to stay with the right mindset because even the most experienced traders can still have losses as they are not in control of the market and beginners always fail to acknowledge that, as they are just after to get quick money or profit, when the market doesn't work like that. So, its important for one to trade with what they can afford to lose and learn from their mistakes, as that way can be in support for them to get to understand the methods more better.

[Aanuoluwatofunmi]

Let me take my time to talk about managing risk in this regard; we must trade and do so in profit and not in loss. We must also ensure that every use of indicators serves its purpose for the accuracy of the trade we are taking.

Another thing to consider is emotional control; this aspect constitutes a larger percentage of how we get it right in any trade we are taking or not, because we are not expected to be moved emotionally, but necessary for us to balance both our emotions and psychology in making an analysis over any trade we are taking.

[ASloveapg]

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Trading does not showcase only those who are skillful and strategic traders, but having patience, strict discipline and good risk management will definitely equipped the trader more and make him a reliable trader.

Trading psychology may not be well-discussed in the forum, but in reality, a trader with no good trading psychology will turn a useless trader. Skills and strategies won't be sustainable in trading, traders should also be well-equipped with good trading psychology to completely achieve the success in trading.

For those who trade they don't need to overly appear as great traders. Trading simply requires patience and discipline in managing their time. Therefore if they're even slightly careless I think they'll suffer losses. This is why many say that before starting trading it's better to seek out or approach experienced traders so that when they begin they won't feel confused about their goals.

There is no need to discuss it just what they need is that when they trade they better display the advantages in terms of the knowledge they have regarding the trading they want to develop. This aims to enable them to do it for the next stage because if they fail once in doing it I think they will start to get bored of continuing the struggle for the second time because the goal when they did it the first time was to be able to reach the point of success in achieving their goals in trading.

I don't know if only time management and patience will be enough for trading. Yes, experienced traders do not get confused about their goals. They can be learned from them. And they try to maintain their capital without worrying about additional profits like beginners. Because if they lose capital, they will not be able to make the next trade. It is good to learn from experienced ones, but you should not trade by watching them or imitating them or expecting to make profits because they are making profits. Trading is a personal decision and whether you lose or gain from it, it will affect you and it is not anyone else's responsibility. So, you should decide how much you can afford to trade considering your personal financial situation. Not by completely imitating others.

[bhadz]

The 6 is true. And the market reveals who the real traders are and who are not. Traders are becoming gamblers because they cannot take the market with their patience and so what they do is they bet on the coins that they think will be profitable. It's an actual gamble and they put their trades on high leverage even if they have the idea that it shouldn't be done like that. If they're impatient and doing it with high leverage, they are not trading but gambling. It can be learned not from the beginning of anyone's trading journey but usually in the end when they have incurred losses already.