Quote from: Rruchi man on August 10, 2025, 08:09:14 PM

Quote from: Princesslelee96 on August 08, 2025, 10:09:42 AM

So I want to ask? What are the criteria’s to become a good trader?

If you can master your trading psychology, then you have done more than half of the work already because the market is you vs. you. The remaining side is a good strategy to help you in the market. The majority of traders fail early because of poor psychology; they are too quick to make profit, and even when they make the analysis, they are not too sure of it, so they kick out even before they can make big profits. To be a very successful trader, you need to develop a strong trading psychology and then have a good strategy to back you up.

With mentorship alone, you learn strategy; you need to do the extra work of mastering your psychology.

If a trader can apply his strategy in the way you explained about trading psychology, he will continue to be profitable. I recently implemented a strategy that has made me profitable and greatly reduced the chances of losing money. An example of this is that I buy multiple coins at a time when the price subsequently decreases but a week later when the price recovers and a small profit is made, I sell most of the coins at that time. In some cases I have to sell at a small loss/profit because it is better to have a small profit than to have a fund portfolio in the long term. I think this could be a trading psychology because your profit will be small but in the long term the capital will not be tied up in the fund that you have allocated for short term trading