Seems to me that "good" trading is not even possible for most people. Competant, is another question. Sure most people who understand tech, markets and are willing to learn, and work hard reading, I imagine you could become competant if you wanted, but "good" is another matter.
I suspect, "good" quality traders, meaning those who regularly earn gains, not lose their shirts, in either/both bull and bear markets, these people probably need to be a certain breed.
I suspect trading is like sports or any other skill.
Seems like your guest disagrees with me, but that is my thoughts on the matter. He makes it sound pretty easy...
Great talk @louisthomas, in my case i spent around 5 months learning about technicals tools and working with them to have the ability to understand the market sensations but i can't say i'm a professional trader because as high altitude says you need more than 1 year to be a professional trader great videos and great work man :). Regards
While I think that it truly takes more than a couple of months or even years to become a great trader as experience is the best teacher, he brings great points as to dedicating time and effort to invest in yourself to learn the ins and outs. Market cycles shift very quickly so it is more of a continuing learning process as you need to adapt to the changes in the market particularly in inefficient and immature markets like cryptocurrencies.
To be a great trader, you have to be literally like a robot. It’s taugh, but this is the only way to be successful trader. I personally am not build for high frequency trading. It’s stressful and whoever says otherwise, he is not a human. I prefer investing into something I believe in and than to forget about it for the next 10 years.
Louis, I believe it is important to point out that being a successful trader also requires certain psicological traits such as being detached and disciplined. Some people might be extremely smart but not be the "right" character to go in on a full time trading career
About 12 years ago I started to be very interested in stock trading. I started with paper money and I was very good at it as well. The reason I was very good at it was that almost all stocks went up. There was no way to loose money. I switched to real money. At the beginning I made profits. Once the financial crises triggered, all went down the hill. Not only stock market turned against me, my emotions started to take over. That’s why I stopped trading. I had sleepless nights. All I can say, we are all humans and humans have emotions. In good markets going only up, everyone is a good trader. But when market turns against you, it turns against 99% of traders. That’s why I became long therm investor.
Great advice, just like most pursuits - sweat equity is the ultimate factor. I wish I could trade but I know I don't have the necessary disposition to be successful so I stick to investing but I always am interested in consuming the content of traders.
To get good at this kind of trading you must always keep a foot in the real ... ie Even if testing your strategy with a virtual account is recommended, do not consider that your performance on this account will necessarily be representative of your performance with a real account.
Do not lose the meaning of the value of money either. Do not take the game at the expense of your private or professional life. Do not spend 12 hours staring at your screen to follow the courses by chaining the orders.
And be careful, keep a foot in the real world, it is not necessarily obvious if the motto you trade is virtual! But it is possible. Rely on tangible elements and concrete information on which crypto currency to invest: stay informed on cryptocurrency websites, review developer training and skills, and more.
@louisthomas, I was introduced into this crypto world about a few months ago. I just wanna how do you trade crypto for fiat currency and what are the requirements? Do you need a Mastercard or sth ?? Please help
Markets specially crypto currency has many fast ups and down steps.experience is needed to understand them.if some want to invest he should have sharp mind.your discussion is so important to aware the investors.
Seems to me that "good" trading is not even possible for most people. Competant, is another question. Sure most people who understand tech, markets and are willing to learn, and work hard reading, I imagine you could become competant if you wanted, but "good" is another matter.
I suspect, "good" quality traders, meaning those who regularly earn gains, not lose their shirts, in either/both bull and bear markets, these people probably need to be a certain breed.
I suspect trading is like sports or any other skill.
Seems like your guest disagrees with me, but that is my thoughts on the matter. He makes it sound pretty easy...
Great talk @louisthomas, in my case i spent around 5 months learning about technicals tools and working with them to have the ability to understand the market sensations but i can't say i'm a professional trader because as high altitude says you need more than 1 year to be a professional trader great videos and great work man :). Regards
While I think that it truly takes more than a couple of months or even years to become a great trader as experience is the best teacher, he brings great points as to dedicating time and effort to invest in yourself to learn the ins and outs. Market cycles shift very quickly so it is more of a continuing learning process as you need to adapt to the changes in the market particularly in inefficient and immature markets like cryptocurrencies.
To be a great trader, you have to be literally like a robot. It’s taugh, but this is the only way to be successful trader. I personally am not build for high frequency trading. It’s stressful and whoever says otherwise, he is not a human. I prefer investing into something I believe in and than to forget about it for the next 10 years.
Louis, I believe it is important to point out that being a successful trader also requires certain psicological traits such as being detached and disciplined. Some people might be extremely smart but not be the "right" character to go in on a full time trading career
About 12 years ago I started to be very interested in stock trading. I started with paper money and I was very good at it as well. The reason I was very good at it was that almost all stocks went up. There was no way to loose money. I switched to real money. At the beginning I made profits. Once the financial crises triggered, all went down the hill. Not only stock market turned against me, my emotions started to take over. That’s why I stopped trading. I had sleepless nights. All I can say, we are all humans and humans have emotions. In good markets going only up, everyone is a good trader. But when market turns against you, it turns against 99% of traders. That’s why I became long therm investor.
Great advice, just like most pursuits - sweat equity is the ultimate factor. I wish I could trade but I know I don't have the necessary disposition to be successful so I stick to investing but I always am interested in consuming the content of traders.
To get good at this kind of trading you must always keep a foot in the real ... ie Even if testing your strategy with a virtual account is recommended, do not consider that your performance on this account will necessarily be representative of your performance with a real account.
Do not lose the meaning of the value of money either. Do not take the game at the expense of your private or professional life. Do not spend 12 hours staring at your screen to follow the courses by chaining the orders.
And be careful, keep a foot in the real world, it is not necessarily obvious if the motto you trade is virtual! But it is possible. Rely on tangible elements and concrete information on which crypto currency to invest: stay informed on cryptocurrency websites, review developer training and skills, and more.
You cant.
Even successful guys have such short track record its statisticaly insignificant.
@louisthomas, I was introduced into this crypto world about a few months ago. I just wanna how do you trade crypto for fiat currency and what are the requirements? Do you need a Mastercard or sth ?? Please help
Markets specially crypto currency has many fast ups and down steps.experience is needed to understand them.if some want to invest he should have sharp mind.your discussion is so important to aware the investors.
@louisthomas I agree especially with the need to invest thoroughly in ourselves by doing our own research. It remains the first requirement IMO.