Quote from: Yukyzu on Today at 04:38:23 PM

Quote from: Dzwaafu11 on Today at 07:51:54 AM

Quote from: Zanab247 on October 14, 2024, 03:18:00 PM

A good trader should know how to exercise patience when trading in the market, because that is where some traders use to face losses in their trading, they believe that the price will not go higher than the current price. A good trader should have the knowledge to carry out her research before trading which is very important for good traders who want to make different profit from other should develop because you will notice something that will make you not to go ahead when the bear season occur, which you have to wait for bull season to occur before you can trade to earn profits.

Is all end up in a good trader should have understanding of how the market works. Market movement is what makes many traders lose their money; they don’t study the market well before taking any further decisions, and that’s why many of them will later regret their actions at the end. Some of them are not emotionally stable when trading, and that is why instead of making the right decision, they think if they continue leaving that trade they will lose the money.

Instead of having patience and waiting for the right time, they are not doing that; they rather sell or close the trade quickly. patience is very important in trading, but many traders failed to understand, or maybe some of them use a large amount of money to trade that is they won’t want to risk too much.

Understanding how the market works well is indeed a must for anyone who wants to trade and without understanding how the market works well, of course, they will lose their money when trading and regretting it certainly does not mean anything anymore, but they can use the experience as a lesson for them so that when they want to enter the market and trade they must really understand it well so that they do not make the same mistake again.

When someone has unstable emotions in trading, it will be difficult for them to decide something well so that they miss some of the steps that must be taken and this will certainly make them not get results that benefit them when trading, having patience when trading is certainly very important because without patience, of course they cannot know exactly when is a good time to enter or exit the market.

On the moment or time that you do step your foot into this market on which its a volatile,unpredictable,decentralized and totally random then of course you will really be needing up to be prepared for that.
Never ever make yourself that become too delusional that you could be able to handle up this market very well. There's no such trader will be able to predict precisely on where prices could possibly go.
Market is volatile so it will really be needing up for you to apply some analysis on which basing up into its previous behavior but there would be factors that will really be constantly changing on which it will
really be making even more that hard to predict due to those factors. Applying any possible analysis is recommended and wont really be sticking into a single strategy.

Being a trader will also be requiring that having the patience on dealing up with volatile space. You would really be that prone into tons of busted positions because of market unpredictability.
This is why it would really be that relevant that you do have those back up plans whenever your initial strategy had been busted out.

As you do go forward on which you will really be finding yourself becoming progressive as you do gain experience on which this will really be that developing you into a more better trader than on yesterday.
Just dont make yourself in a rush and you would really be just that fine.