Quote from: macson on Today at 01:19:35 PM

Quote from: Alucard1 on May 17, 2020, 07:13:26 AM

I have seen many questions about how they are going to be a professional trader, so I just wanna share my experience, I am not a professional trader but I just wanna share some of my experiences and way of thinking in trading.

1. Trade at your own risk - You should know that investing, gambling and trading is somehow the same because you are not sure that you could win the prize, so expect that you could win and you could lose your money.
2. Limit your budget - always limit your budget for trading, you should use only those extra money you have, instead of spending it on some other things, you may use it for trading, at least you made something to make it profitable.
3. Do not be greedy - There are many people who suffered from being greedy, they tend to spend all their money because of thinking that they could still make more money but instead of earning they have lost their money. ALWAYS KNOW WHEN TO STOP AND CONTINUE TO TRADE.
4. Learn from your own mistake - Instead of being sad because of losing try to think on some other thing why you get lost and think some good strategies to overcome those mistakes.

snip

This advice sentence must continue to be voiced by many traders to> newbie traders....good traders are not those who always show their profits but who always give good advice to others who want to become traders. but there are still many traders (pro or newbie) who find it very difficult to learn from their mistakes, this is the most important part.

One of the lessons I learnt from my crypto trading journey is learning after making a mistake, I wrote all the possible corrections of my past mistake in my trading journal and their corrections which serve as my guide so as to prevent me from repeating such type of mistake again, from my trading price observation in the market, candlestick patterns repeat itself similar as price history also repeat itself , I always take my time to backtest my charts to identify where I made those mistakes such that when a similar candlestick patterns is unfolding I will avoid making that mistake again.