You've always been a Good ANALYST, But You don't make money with your analysis.
Why?
There are three reasons, there might been more but this three are the reason why most trader are not making money in the market.
1. You are not well informed and don't make research.
Most trader just buy when they see people buy a crypto assest without knowing the reason why and other factor that might likely affect the token.
When you invest in what you don't or have little information about you tend to make bad trading decisions– Like you keep Holding an assest when you are supposed to be selling it or Buying and an assest when you the bull legs is complete and the market is going on a retracement...
2. Timing.
I have discuss with alot of traders that don't have any idea that timing plays a big role in the world of trading...
Knowing when to enter and exit the market is super important to you as a trader. You can have all the information in the world about an assest or toke but if your timing is not right will be end losing your money...
When I Said Timing What do I Mean?
It simple terms it means getting on the or buy an assest when the Whale are buying or when the big move is about to happen. For example, alot of people were aware that #Binance what about to launch $ACE but most people who knew still end up not making money but their timing were wrong...
When you have the information make sure to have the right Timing too so as to catch the Big move and get out when the Volatility is dieing out.
3. The last on is Discipline.
Some people or trader are good at taking but when it comes to doing and sticking to what they said before they start having issues. And why is that?
It simple they lack the Discipline to follow the trading plan and sometime the causes of this is because maybe your plan is too complicated and hard to stick to, you can try to start with simple plan like:
I will do ABC but if I can't do ABC
I will do XYZ or I will XYZ is ABC happen.
You have to be Disciplined Enough to Follow your Trading Rules squarely to be able to profit from the market and also able to keep the profits...
Some traders are good at making profit but bad in keeping them, when they are making profit they get too excited and forget about their plan to take profit and then allow Greed to cloud their mind and they sometime end up giving back to the market the little they have profit.
To be honest I was once like this and it not funny because it can mess with your psychology and having a clear head is important also for trading success but that will be a topic of another day...
Was im trying to say is this, try to be the one who Set Rules and Follow them, no matter the circumstances, No matter what happens within you or In the market.
Your plans Should be:
- Analyze.
- Execute.
- Outcome of Trade( SL/ TP/ BE)
Making money from one's analysis Comes in when you have Discipline to Follow Your plan for the trade and the Confidence to Take that Trade.
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Writer Berry
