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[ANN] PerFix - Trusted & Secure Crypto Project (POW+POS)
Specifications
Name PerFix
Symbol PFX
Launched 11-05-2025
Version v1.2.0
Language C++
Hash algorithm ProgPowZ
Consensus POS + POW
Block time 1 minute
Block reward 10 PFX
Maximum Supply 8 (uncapped)
Explorer
https://explorer.perfix.io coming soon
Wallet
https://github.com/Perfix-blockchain/Perfix/releases/download/1.2.0/PerFix-win64-v1.2.0.zip
Exchanges
https://xeggex.com/market/PERFIX_USDT
Trusted & Secure Crypto Project
PerFix is a technology that seeks to combine the latest advances in digital finance, decentralized applications and artificial intelligence.
The security of your transactions is ensured by the time-tested CryptoNote protocol. The hybrid POW and POS consensus algorithm makes it possible for anyone to mine and use PerFix.
How to start
Choose your wallet
To start using PerFix, first of all, you will need a wallet. Visit our downloads page and choose the wallet that suits you.
There are PerFix wallets for different platforms that provide everything you need so that you can start using PerFix right now.
Get some coins
After the wallet is installed, you will need to put some coins into it.
You can use mining to get PerFix coins or buy PFX on a cryptocurrency exchange.
Seeing people replied about setting pips, ratio of stop loss to trading, and considering trading pair, I have a question to ask, isn't it forex market that has pips study, ratio settings strategy. I have only come across market makers and market takers in crypto trading, how does pips, ratios concise with crypto, which crypto exchange supports pips and ratio setting. Never see me as fool for asking this.
Pip is a unit of measurement in the market. I trade forex majorly and I also trade cryptocurrency via my broker. I believe the pip count and R:R also apply in the crypto market. you can check out the pip count of a pair on tradingview and MT4
I see traders boast about the Amount of pip they made in the market but I believe what should matter to you as a trader is your Risk to reward ratio.
If you are changing your instrument of trade as a result of the pip-move of a pair/currency, I think you should re-think your decision and factor in Risk to reward.
So many traders are not profitable yet because they fail to understand this.
It's high time traders stop chasing shadows.
I agree with your point. Most of the successful traders only show their great profits to the community and this makes the new traders think that making profit is easy in crypto market. And this often turns into disappointment and discouragement of the trader when the lose their capital in trading. Profits are high, but so are the risks.If you are changing your instrument of trade as a result of the pip-move of a pair/currency, I think you should re-think your decision and factor in Risk to reward.
So many traders are not profitable yet because they fail to understand this.
It's high time traders stop chasing shadows.
So, all the traders should mention their risk to reward ratio so that the newbies can understand the market and its volatility (unstable behavior) and the risk factor involved before they pour in their capital.
Well said. I believe all traders should focus on their individual journey
I see traders boast about the Amount of pip they made in the market but I believe what should matter to you as a trader is your Risk to reward ratio.
If you are changing your instrument of trade as a result of the pip-move of a pair/currency, I think you should re-think your decision and factor in Risk to reward.
It's high time traders stop chasing shadows.
If you are changing your instrument of trade as a result of the pip-move of a pair/currency, I think you should re-think your decision and factor in Risk to reward.
It's high time traders stop chasing shadows.
In my view too. apart from ratio reward to risk management I believe calculating the number of pips is also good rather than having only profit made in mind. Some traders can use a huge lot size to trade just because of the profit they are chasing but if you trade based in pips and reduce your risk appetite, I think is also RR
The amount of pip you make in the market doesn't matter at all.
For Example, If you make 200 pips in the market with a 100 pips stoploss, you are less profitable than someone who made 15 pips with 5 pips stoploss.
PS: Your stop-loss and % of account risked determines the lot-size you use. A huge lot size can be used following proper-risk calculation/management.
So many traders are not profitable yet because they don't understand this.
I see traders boast about the Amount of pip they made in the market but I believe what should matter to you as a trader is your Risk to reward ratio.
If you are changing your instrument of trade as a result of the pip-move of a pair/currency, I think you should re-think your decision and factor in Risk to reward.
It's high time traders stop chasing shadows.
If you are changing your instrument of trade as a result of the pip-move of a pair/currency, I think you should re-think your decision and factor in Risk to reward.
It's high time traders stop chasing shadows.
⭐ Merited by suchmoon (4)
[snip]
The reason for this is to make traders understand what we are up against so we can heed to every necessary trading rules which will keep us lasting in the trading game.
Well, on my own. You can't rely only upon technical analysis, that is right, the market is extremely difficult to predict and creating speculation through TA is not commonly give an exact result [ perhaps it is near ], how could you believe if this does not even give an accurate result. However, thank you for trying us to explain your technical analysis, --but, indeed, I believed if you will show your proof of this not only for discussion.The reason for this is to make traders understand what we are up against so we can heed to every necessary trading rules which will keep us lasting in the trading game.
Do you think we really move the market? We are like a remora fish on a shark just going along with whatever they do.
The fact that their actions leave patterns behind in the market is what gives us an edge to trade with.
Technical analysis gives you an idea of what the market is doing; and if you trade price action, all you study is what price is doing (indirectly, the actions of the dynamic traders).
The dynamic traders know the way you see the market.
They know you are drawing a support or resistance zone wherever you are drawing it.
They know the way retail traders think and the way we go about Technical Analysis.
All they simply do is manipulate the market in their favour to get the price where they want (cheaper for them) at the expense of our stop losses.
That is the reality in regards to TA. It is to believe that those passive traders don't rely upon TA's but having in the actual scenario and adapt to it will it exactly could help them. Traders should become vulnerable to that kind of change and we can't expect that TA's will work great all the time as we know how volatile we are.
Whales probably don't have that kind of analysis, instead, they go along with the market and use their manipulating power to change the trend. Besides, most traders are relying on their actions and predicting what they'll do next rather than to keep TA's.
Whales probably don't have that kind of analysis, instead, they go along with the market and use their manipulating power to change the trend. Besides, most traders are relying on their actions and predicting what they'll do next rather than to keep TA's.
This is why what matters in trading is sticking to a winning strategy and following a trading plan (You follow a trading plan because a winning strategy is never 100% accurate)
Even when you do the technical analysis, you still can't guarantee a sure win for every trades. That's why there is a stop-loss if incase your analysis goes wrong, the cutting loss is very important in trading, it's one of the best weapons in trading because of NO 100% TRADE every time.
I'd rather use technical analysis than fundamental analysis, that's why if you want to become a trader you should really learn and love technical analysis.
I'd rather use technical analysis than fundamental analysis, that's why if you want to become a trader you should really learn and love technical analysis.
I agree with this. I'm also a purely technical trader.
These are nice explanations and I think very helpful for many users.
Some are against and some pro technical analysis but it's needed to point out that is just another tool that might be helpful but just because of it you will not become more successful trader. In fact, there is no tool that will tell you what, how and when to do something in trading and get profit.
However, all these tools including technical analysis might be useful if you know how to read the data and how to use them. But there is no plug and play solution that will made you successful trader.
Some are against and some pro technical analysis but it's needed to point out that is just another tool that might be helpful but just because of it you will not become more successful trader. In fact, there is no tool that will tell you what, how and when to do something in trading and get profit.
However, all these tools including technical analysis might be useful if you know how to read the data and how to use them. But there is no plug and play solution that will made you successful trader.
Exactly!
Truth be told, there is no Holy grail in trading.
The only thing I refer to as MY holy grail is Risk Management.
Your explanations are not having enough weightage to change my perception on technical analysis because I am already viewing the market in more or less same way you have explained, lol 
. I mean your theory might be a surprise for the people who never experienced all the pain of markets but definitely not the people who are into trading for years 
. I just regret that I'm not getting this kind of explanation some 10 years back itself so that I would have approached trading definitely in more effective way than I started doing that after lots of struggle.
Technical analysis is one way to predict what is going to possibly happen and definitely not a mathematical calculation that will foretell what is going to happen exactly in upcoming hours/days.
Dynamic traders are everywhere but group of passive traders may overcome the decision of dynamic traders on some occasions; I mean dynamic traders will be losing power when more number of passive traders will be taking same decision. Manipulations are everywhere but when more volume is happening those manipulators will lose their power. Simply following a technical analysis will help because more other traders also will be following it to take their trading decisions.
. I mean your theory might be a surprise for the people who never experienced all the pain of markets but definitely not the people who are into trading for years . I just regret that I'm not getting this kind of explanation some 10 years back itself so that I would have approached trading definitely in more effective way than I started doing that after lots of struggle.Technical analysis is one way to predict what is going to possibly happen and definitely not a mathematical calculation that will foretell what is going to happen exactly in upcoming hours/days.
Dynamic traders are everywhere but group of passive traders may overcome the decision of dynamic traders on some occasions; I mean dynamic traders will be losing power when more number of passive traders will be taking same decision. Manipulations are everywhere but when more volume is happening those manipulators will lose their power. Simply following a technical analysis will help because more other traders also will be following it to take their trading decisions.
This is a very nice contribution.
More the reason why it is advised to trade with the trend.
This basically clarifies how TA's aren't gods, they aren't time travellers that came back in time to show the future of the market prices. They aren't all knowing and therefore, should not be the basis of your judgement when trading . Even if we do say that a TA's judgement is based on analysis of the trends and facts, it still remains as fact that a TA's judgement is just purely prediction.
In the end, the chances of you hitting it off with a trade is 50/50 for all chances. Win or lose, no TA could lessen that. Even if you say that someone was going to make a big move, it remains that the big move does not guarantee a more than 50% chance of it successfuly moving the market as you predicted.
. Even if we do say that a TA's judgement is based on analysis of the trends and facts, it still remains as fact that a TA's judgement is just purely prediction. In the end, the chances of you hitting it off with a trade is 50/50 for all chances. Win or lose, no TA could lessen that. Even if you say that someone was going to make a big move, it remains that the big move does not guarantee a more than 50% chance of it successfuly moving the market as you predicted.
If you say it's 50/50, then i will refer to trading as gambling.
I don't see it as 50/50; i see one side having a higher probability than the other. more the reason why we have confluence.
The trouble is hidden at the end of the line, check out the "all you need to do is to trade with an edge/strategy that works and follow a trading plan", well if there was any edge or strategy that would work forever everyone would have followed it.
That is what bothers me the most, some people think that there is a method or a strategy that you can use to make a profit and they are missing the fact that there is 8 billion people in the world give or take (said 7 but I believe it is closer to 8 nowadays) and over half of them are poor, don't you think if there was an edge or a strategy that would allow you to make a profit, those people wouldn't realize this and EVERYONE would use it? So by all conclusion, no strategy can work too long, it works for a while but then too many people use it and break it so you gotta find a new one.
That is what bothers me the most, some people think that there is a method or a strategy that you can use to make a profit and they are missing the fact that there is 8 billion people in the world give or take (said 7 but I believe it is closer to 8 nowadays) and over half of them are poor, don't you think if there was an edge or a strategy that would allow you to make a profit, those people wouldn't realize this and EVERYONE would use it? So by all conclusion, no strategy can work too long, it works for a while but then too many people use it and break it so you gotta find a new one.
Actually, on the contrary, i am of the idea that individual should stick to a strategy.
Obviously we trade in a changing market condition; this is more the reason why traders should have a strategy for different market environment.
I trade based off Discretion.
Great explanation OP, but how does it relate to cryptocurrencies. We're talking about a market that is overwhelmed by the number of bots and wash trading. My opinion is that TA in cryptocurrencies is very limited and works out well in identifying bull amd bear markets but not in short-term moves.
Using your language we're in need of those dynamic traders. Bitcoin trading in a 9000 channel looks like it has no real depth just bots buying and selling the same coins over and over.
Using your language we're in need of those dynamic traders. Bitcoin trading in a 9000 channel looks like it has no real depth just bots buying and selling the same coins over and over.
This is related to cryptocurrencies.
Price is always manipulated to lure traders into pushing price to a level where whales can get them cheaper.
I can understand what you are saying, but I will never be a fan of technical analysis. With graphs and lines you can prove anything. But you will have people who are pro TA and people who are against.
I haven't met anyone, who can make accurate analysis and predictions based on technical analysis.
It is extremely difficult to predict the market through technical indicators and I will advise people to just focus on fundamental indicators on any assets their desire to trade. Trading is however a game and it is better you use what work for you. I haven't met anyone, who can make accurate analysis and predictions based on technical analysis.
I trade using technical methods.
The reason for this is to make traders understand what we are up against so we can heed to every necessary trading rules which will keep us lasting in the trading game.
I can understand what you are saying, but I will never be a fan of technical analysis. With graphs and lines you can prove anything. But you will have people who are pro TA and people who are against.
I haven't met anyone, who can make accurate analysis and predictions based on technical analysis.
I haven't met anyone, who can make accurate analysis and predictions based on technical analysis.
Well, i don't believe you have to make accurate predictions to be profitable in trading.
Provided you have a good win rate on a series of trades, you are good to go.
No trading method is 100% accurate. I don't even think there is any that is 90%
My Luck is not for Trading, I think Trading is not for Me. I try it many time, and i understand that trade isn’t for me. Every time i lost my Satoshi on Buy/Selling, becouse i haven’t any expression about Coin Chart, buy, sell and about more.
Trading is not easy.
The passion is what keeps us going.
But truth be told, trading is not for everyone.
If you feel it isn't for you, probably it is not.
If I ask "what moves price?", I am sure a lot of answers will be buyers and sellers; but what makes buyers and sellers buy or sell? The answer is Conviction.
All price movement results from an imbalance in the degree of conviction between the traders who believe the price is going up and those who believe the price is going down.
Retail traders are classified as passive traders and the only way we find ourselves in winning trades is by the actions of the big movers in the market who are willing to bid the market up or offer them lower.
This simply means that we are trading other people's perceptions of what is high and what is considered low. So in short, you are simply depending on the dynamic traders to make you a winner or a loser.
The big movers in the market are referred to as dynamic traders. The dynamic traders represent those with a large chunk of money enough to move the market.
Now let's get technical and relate this with the charts. Imagine an uptrend, for example, price surely gets to a level where it reverses; this level is marked as a level of resistance.
What really happened at that level of the market is that there wasn't one person in the whole world that was willing to bid the market higher; no one was convinced as to why price should go higher.
There are a whole number of traders out there with the psychological and financial resources to bid the market higher or lower and there is no way any technical methodology will know where the price is moving to except you get into the mind of the dynamic traders who are willing to move the market.
What technical analysis does is that it gets into the collective mind of the market but it can't get into the mind of the individual trader traders that drives the price up or down.
We technical traders always come up with a reason as to why the market went up or down (for example, trendlines, support or resistance, fibs etc.) but the truth is that there is no reason you will come up with as to why the market went up or down other than the fact that there is an imbalance (conviction).
No technical methodology is designed to tell you what will happen on a trade by trade basis. This is why we make mistakes because we are expecting something from our methodologies that don't exist!.
This is also the reason why a trading strategy/methodology wouldn't tell you what will happen on a trade-by-trade basis but on a series of trades by a percentage % basis.
Your consistency as a trader is based on what happens on a series of trades. It is not reasonable to expect a strategy with a mathematical method to work consistently in a changing market.
In conclusion, what technical analysis does is finding a pattern amidst the imbalance/conviction of the market, it measures the probability of one thing happening over another.
As a result of the fact that patterns (edges) show up from this imbalance, it turns technical analysis into an unending stream of opportunities to enrich oneself.
The effect of the dynamic traders in the market doesn't mean you can't make consistent income with technical methodology; all you need is to trade with an edge/strategy that works and follow a trading plan.
Understanding the dynamics of price movement will help you trade your plan without expectations or putting emphasis on things that doesn't matter.
I hope you see the market differently now.
All price movement results from an imbalance in the degree of conviction between the traders who believe the price is going up and those who believe the price is going down.
Retail traders are classified as passive traders and the only way we find ourselves in winning trades is by the actions of the big movers in the market who are willing to bid the market up or offer them lower.
This simply means that we are trading other people's perceptions of what is high and what is considered low. So in short, you are simply depending on the dynamic traders to make you a winner or a loser.
The big movers in the market are referred to as dynamic traders. The dynamic traders represent those with a large chunk of money enough to move the market.
Now let's get technical and relate this with the charts. Imagine an uptrend, for example, price surely gets to a level where it reverses; this level is marked as a level of resistance.
What really happened at that level of the market is that there wasn't one person in the whole world that was willing to bid the market higher; no one was convinced as to why price should go higher.
There are a whole number of traders out there with the psychological and financial resources to bid the market higher or lower and there is no way any technical methodology will know where the price is moving to except you get into the mind of the dynamic traders who are willing to move the market.
What technical analysis does is that it gets into the collective mind of the market but it can't get into the mind of the individual trader traders that drives the price up or down.
We technical traders always come up with a reason as to why the market went up or down (for example, trendlines, support or resistance, fibs etc.) but the truth is that there is no reason you will come up with as to why the market went up or down other than the fact that there is an imbalance (conviction).
No technical methodology is designed to tell you what will happen on a trade by trade basis. This is why we make mistakes because we are expecting something from our methodologies that don't exist!.
This is also the reason why a trading strategy/methodology wouldn't tell you what will happen on a trade-by-trade basis but on a series of trades by a percentage % basis.
Your consistency as a trader is based on what happens on a series of trades. It is not reasonable to expect a strategy with a mathematical method to work consistently in a changing market.
In conclusion, what technical analysis does is finding a pattern amidst the imbalance/conviction of the market, it measures the probability of one thing happening over another.
As a result of the fact that patterns (edges) show up from this imbalance, it turns technical analysis into an unending stream of opportunities to enrich oneself.
The effect of the dynamic traders in the market doesn't mean you can't make consistent income with technical methodology; all you need is to trade with an edge/strategy that works and follow a trading plan.
Understanding the dynamics of price movement will help you trade your plan without expectations or putting emphasis on things that doesn't matter.
I hope you see the market differently now.
FOMO implies Fear of Missing Out. This is a serious issue when it comes to crypto trading and it has at least happened to you in crypto before because we all dont want to miss out and start regretting later. The crypto market remains young and unstable hence the price of most coins largely depends on how many people believe in their potential
How can you Identify FOMO
1. The first symptoms of FOMO is when you see so many people buying the coin and you start thinking all of them cannot be wrong. You also jump inside without doing any proper analysis
2. When you start saying to yourself you should have gussed the price would go up
3. When you start saying that there must be something about this coin that other people know and you dont know.
4. It would be silly not to try. Let’s see how much money I could make.
As you can see FOMO traders prefer to pursue the crowd rarther than sitting down and doing their own personal analysis of how far the coin can go.
How can you Identify FOMO
1. The first symptoms of FOMO is when you see so many people buying the coin and you start thinking all of them cannot be wrong. You also jump inside without doing any proper analysis
2. When you start saying to yourself you should have gussed the price would go up
3. When you start saying that there must be something about this coin that other people know and you dont know.
4. It would be silly not to try. Let’s see how much money I could make.
As you can see FOMO traders prefer to pursue the crowd rarther than sitting down and doing their own personal analysis of how far the coin can go.
I agree with some of this. But I believe there is no trader that doesn't undergo FOMO.
We just have to be mindful of our emotions and learn to control them.
Most importantly, I believe greed/emotions vary based on individual personality and everyone needs to understand this about themselves.
Emotions should always be out of the door when you are trading, think yourself like a bot and act precisely on why you want to buy something and why you want to sell it. If you have a good logical reason to buy something, you should not be losing too much, if you put emotions into your trading the losses will be far greater and far more frequently. Plus if you do not think emotionally you will not remember last loss when doing the next trading as well.Handling losses would be in a manner like accepting losses. Just moving out of the scenario and focusing on next trade will definitely help anyone to become profitable over the time. When you are making more profits than losses and occasionally facing a loss and then moving out of it will become everything as a part of life. Yes, losing moments will lose its significance when you remain a profitable trader.
You made a whole lot of sense in this buddy!
It depends on who is teaching you. An expert in that area can teach you how you can get over any kind of bad feelings that you don't want
I don't think it is very likely in real life
An expert in trading is not necessarily an expert in teaching as these are two entirely different areas. You can be a trading genius but if you don't know how to effectively transfer your skills and expertise to someone else, you are busted. Further, true experts are extremely unique, i.e. their expertise cannot be copied like you copy a sheet of paper merely because it is built on very particular personality and character traits (read, it may not be transferable at all)
This is one side to it.
Another side to it IMO is that what works for everyone psychologically is different.
What worked for your expert might not work for you.
Trading is one journey of self-discovery.
Stop loss had been my major saviour in trading that goes against me It has helped me to cut my losses of course losses are inevitable in trading while my trading life had instilled a thinking when I am resting on my bed such that I always scan over my winning and losing trades.
More so dealing with emotion and psychology in trading is another aspect that has been affecting my personal life.
More so dealing with emotion and psychology in trading is another aspect that has been affecting my personal life.
Every trading day is a level up to your trading game. Sooner than later handling emotions will be second nature
I just wonder on seeing that gambling helped you in many ways in your your personal life other than making you rich. Honestly nice to see. (Probably you must need to edit the subject line of this topic because "affected" is somehow misleading. Anything like "transformed" or "impacted" would be the right term here. Affected is for only negative things but anything which is neutral will be more appropriate).
I'm not a profitable trader which made me not to think about improving my other skills and habits. Only when you are achieving what you need then only you can start focusing on other things. After reaching your goal, may get time to focus on improving yourself in terms of good habits. This is what exactly happening for me in trading.
I'm not a profitable trader which made me not to think about improving my other skills and habits. Only when you are achieving what you need then only you can start focusing on other things. After reaching your goal, may get time to focus on improving yourself in terms of good habits. This is what exactly happening for me in trading.
It is so unfortunate that you see trading as gambling. Well, I don't see my trading as gambling.
Oh, thank you for the suggestion! I wasn't aware.
Trading is never easy for anyone. We all strive every day to be the best at what we do. Alongside the hardship that comes with trading are the lessons too.
These lessons for me are golden and have helped certain areas of my life which I just shared. Also, I'm happy I have profited from trading one way or the other.
We all have different stories
Completely you're absolutely right because psychological is something that has to do with traders/investors' maturity status and this is the reason why some people believe crypto trading is not meant for people that can put their psychological in check.
You are right about this. The maturity status of a trader will make a trader realize all that can't be taught in trading.
You would surely see the difference when you do try to compare the older you and the current one as you do gain up experience along the way.There are indeed things that cant really be taught by anybody or can be searched up online since this do particularly talks about inner self attraibutes.
Patience, discipline, emotion handling and more can really be only attained by just experiencing up things.The less you do engage into something then the lesser you would able to mold up yourself.
This is why we should really be trying our best to learn up along the way and gradually enhancing those attributes which are the main keys for you to be good into this kind of field.
Patience, discipline, emotion handling and more can really be only attained by just experiencing up things.The less you do engage into something then the lesser you would able to mold up yourself.
This is why we should really be trying our best to learn up along the way and gradually enhancing those attributes which are the main keys for you to be good into this kind of field.
This is exactly everything on my mind right now!
psychological cant be taught and it the common problem most cryptocurrency investors and traders have.
What i think cant be taught when learning trading is an improvement cause the crypto trading of today is different to the year 2016 which some bot that ease trading is not popularly used. However, traders improvement depend on dedication and thinking outside the box
What i think cant be taught when learning trading is an improvement cause the crypto trading of today is different to the year 2016 which some bot that ease trading is not popularly used. However, traders improvement depend on dedication and thinking outside the box
We will all grow eventually to realize all these
I've got a new one here - controlling your emotions.
Controlling your emotions while setting up a trade is one of the major aspects a very few people know and this thing can't literally be taught to any person as it needs to be conquered on our own. I believe that OP should compile a list of such opinions and put the best ones in the first post so to give a glimpse of the points that are needed to be taken into mind and learnt on our own before jiving into trading.
Controlling your emotions while setting up a trade is one of the major aspects a very few people know and this thing can't literally be taught to any person as it needs to be conquered on our own. I believe that OP should compile a list of such opinions and put the best ones in the first post so to give a glimpse of the points that are needed to be taken into mind and learnt on our own before jiving into trading.
Good point! but I believe controlling emotions also lies under trading psychology.
instinct. A good trader will have a strong instinct to have a premonition of something is about to happen. We all agree that knowledge and skills are important but our instinct are also important. Building a strong instinct takes a lot of experiences, it can't be taught. You can only learn it by a hard way - actually going through!
Yes! instincts. This builds up wit experience in trading after seeing things happen over and over again.
I don't think you're right in some ways. People can be taught to have control over their feelings and reactions. It depends on who is teaching you. An expert in that area can teach you how you can get over any kind of bad feelings that you don't want. It's being done and this is not something new, unless you have not experienced or seen it before. But one thing I know for sure is that it can be done.
I don't really think that there is anything that can't be taught in trading. You can be taught how to trade, the technical analysis and you can as well be taught the psychological side of it. We are having experts these days hence finding a right people to teach us is not a big problem. This is the reason people are becoming too lazy to learn anything by themselves and going for classes for every aspect of trading and life.
I don't really think that there is anything that can't be taught in trading. You can be taught how to trade, the technical analysis and you can as well be taught the psychological side of it. We are having experts these days hence finding a right people to teach us is not a big problem. This is the reason people are becoming too lazy to learn anything by themselves and going for classes for every aspect of trading and life.
The Truth of trading is that you will eventually have to practice everything you learn on your own. More the reason why most traders claim they are self-taught.
Psychology can be taught but it takes a conscious effort and practice to enact it into your trading.
It is just like reading a manual on how to drive. If you don't practice how-to, you will remain inexperienced.
When I may be able to reflect on my trading before, there are tons of actions that I tend to learned. My emotions was uncontrolled way back then that affect my mood whenever I am losing in trading but then it wasn't healthy that is why setting goal is important to somehow control the emotions. Let's also be honest here, good or bad outcome in trading affects our mood as well as our visions in life.
If a trader has enough confidence, an optimistic mind and a good management plan. It may have a great effect in our personal life.
If a trader has enough confidence, an optimistic mind and a good management plan. It may have a great effect in our personal life.
Trading apparently affects us in our real lives but most of us just don't know.
There are too many possible consequences that may affect your personal life after your trading activity.
All mentioned of OP was I already experienced, the bad and the good side in trading. But this wasn't mentioned above, the "GREED". I've learned not to be greed in trading because I've heard that there is one greed trader that he sold everything valuable stuff he had just hoping it will return if he will successfully gain in trading. But unfortunately, it isn't, he loses everything.
However, in trading, we should have self-discipline to avoid/lessen the bad effects in our personal life.
All mentioned of OP was I already experienced, the bad and the good side in trading. But this wasn't mentioned above, the "GREED". I've learned not to be greed in trading because I've heard that there is one greed trader that he sold everything valuable stuff he had just hoping it will return if he will successfully gain in trading. But unfortunately, it isn't, he loses everything.
However, in trading, we should have self-discipline to avoid/lessen the bad effects in our personal life.
Actually, on the other hand, i won't tag that greed because i know of someone who sold most of what he had to raise funds for trading and made it eventually.
What differentiates both is Self confidence. The latter knows his craft and has practiced well enough to know what he needs and how to get it.
The most crucial and good thing that helped me in long-term trading is that I learned to save money right now especially in this pandemic that is happening right now, and I think that would help me in my personal life in terms of long-term.
I'm happy for you!
I was looking out for patient actually because a trader that doesn't drink the patient water goes no far in trading. Impatient makes you jump into salty water if you understand what I mean So I saw the big part, money in the bank. Yeap, good trader makes sure money.
By patience the OP meant that you should always think of the conclusion before initiating any trade, you should do proper research and then do a trade. You should never be influenced by what others say, do your own TA and see what the market looks like as the market always speaks through charts and they are the best way to make money. I have seen many people who just jump right in when the price is rising thinking they will buy high and sell a little higher, but they surely get REKT. Also not always buying in a dump period is not good as then also you can be the one holding a pile of worthless coins. So I saw the big part, money in the bank. Yeap, good trader makes sure money.[/quote]
You said it all Fella! Once you learn patience in trading, you get patient with other things.
Especially those who do Technical analysis, you gotta wait for a candle close to take entries. In between this waiting time, you have to bottle-up FOMO and all other emotions that might influence following your plan. This is patience.
If you're an investor, you have to wait patiently for your investment to yield returns; even though things wouldn't always go as planned, you just gotta wait.
All of us has a different approach to trading, may we experience bad and good thing in here but not it comes into a moment of being addicted to it. I was still in control of my emotions even though if I suffered big losses nor I have to quit either. I've learned a lot of things in crypto trading,
*one thing is to be strong in every turbulent scenario
*become proactive and learn to keep calm.
*not to lose hopes in every fall we have
*one thing is to be strong in every turbulent scenario
*become proactive and learn to keep calm.
*not to lose hopes in every fall we have
Your last point is also something I learned alongside on my trading journey. I am still learning every day though.
To be honest I have also faced sometime that my personal life is affected by trading. Generally, it is a good experience when I get some profit from trading. So I will not talk about the good experience. The bad experience happened when I lose in a trade or when I need some money but I can not end my trade with a profit due to the bearish market. I faced I can not live normally, I can not work perfectly in real life. Sometimes I became very angry. No sound sleep, no sound food intake, etc. And I think this is normal for all trader but we should reduce it by controlling our emotions.
This happens to most traders. But you every trader needs to understand that there are things one can control and things one can not control.
Well, things are different now. It's really difficult to actually find a great stuff in 2020 :/ Especially with those shit scammer coins.
I'm thinking fake projects and scam are the challenges for this time. Back the time such project had value and most of the projects are in cmc in top form. If developers can be sincere to what they are bringing out, I think 2017 can keep repeating itself.
More the reason why as an investor, you have to do your homework in scouting for projects you think are good enough.
P.S: No amount of research will give a project full credibility/trust. Everything is a risk.
Self-discipline and control would be one thing that cannot be taught by anyone because if the person really wants to do something they will do it no matter what happens, no matter what advice that you are going to give to her. They are the ones that would help themselves as well, if they really want to have that kind of characteristic, they should learn to limit first themselves and know what to prioritize.
Yes, in this way I believe most of the aspects of trading could not be taught by anyone so that they will become a perfect trader all of sudden. I mean all the aspects of trading should be learned by own so that it will be possible to become a practice in their trading. If we study something just from books then that will get forget when we are trading. But, when we are experiencing something then that will be definitely remembered while trading. This is the difference between being taught and learning by own.I have studied lots of materials related to trading and also watched plenty of YouTube videos for making myself get ready for trading. Unfortunately when I got into live markets, I started like never seen any lessons/materials related to trading. But I started live markets with the least capital so that learning has become possible for me because I was not with the live market for profit-making but only for learning.
well said. All lessons in trading are self taught.
What I think of a thing that can't be taught is the experience, we all lose, we all win, yes but it has differences a lot of differences.
You can't buy this anywhere.
When I was into forex trading, my results were not good to keep my capital growing which affected my entire life, yes I got impacted on my personal life and career as well. When we are profitable at trading then only we can see positive impacts otherwise trading may turn cruel beyond the limit you could imagine. I kept adding money into my forex account by getting loan to recover losses until I got into crypto trading.
With crypto trading, I am somehow successful and I am slowly regaining my social reputation. So far I have repaid all my loans just from the profits of crypto trading. I have lost my job due to forex trading but now l am living just from the profits of crypto trading.
Luckily, I managed trading not to impact on my level of emotions in any manner. I just trade and leave off before it is impacting into my psychological levels.
With crypto trading, I am somehow successful and I am slowly regaining my social reputation. So far I have repaid all my loans just from the profits of crypto trading. I have lost my job due to forex trading but now l am living just from the profits of crypto trading.
Luckily, I managed trading not to impact on my level of emotions in any manner. I just trade and leave off before it is impacting into my psychological levels.
Good to find out you finally handled it!
I was looking out for patient actually because a trader that doesn't drink the patient water goes no far in trading. Impatient makes you jump into salty water if you understand what I mean So I saw the big part, money in the bank. Yeap, good trader makes sure money.
So I saw the big part, money in the bank. Yeap, good trader makes sure money.Actually it is not compulsory trading to affect the "patient" side of one's life. Some are patient naturally.
We all have different aspects in which trading has affected us either positively or negatively.
