Trade only when there's a clear opportunity

Just sharing my own experience here. I've put money into trading platforms and jumped into trades without being emotionally in check, just going for it without really knowing the market direction. A lot of the time, the markets are just stuck in a consolidation phase. When that happens, we usually just end up losing money. So, my advice? Wait for a solid direction before making a trade. It might take a few days, but it can lead to much better returns.

I think it is more of a philosophical procedure than something that can be applied, as you cannot be 100% certain of the direction of the market, and therefore if you wait until you get enough confirmation signals, the number of trades you make will be limited and there is no guarantee that they will be successful trades.

Yes the problem is there is no control in number of trades it becomes overtrading, ultimately leading to losses.

Doesn't make sense if you just left your funds lying around if you ask me, I think that having the extra funds is already the opportunity that you're looking for when you're trading. Nothing complicated or shabby, just the fact that you think that having the money isn't the opportunity itself. What you're probably looking out for and what got you is the ability to control that emotion, you're better off having to deal with that first before worrying about trading opportunities because that's the one thing that you will probably have a hard time. Imagine this, you have the opportunity that you're looking for but you're still as erratic about your trades which leads you to make mistakes, at the end of the day, you will be wasting that opportunity.

the essence of trade is always seeking opportunity, and I think in crypto market, every minute there's always opportunity since the volatile nature of crypto in general, basically as long as you have funds to trade you can easily find opportunity. it's unlike investing where usually you gonna buy the dips and the dips only happens few times a month, with trading, if you trade on perpetual or derivatives for example, you can literally just take advantage of consolidation phase that formed channel pattern and with leverage. so I think whether you trade because you have fund, or because there's big opportunity out there, all is correct, depends on your skill in creating analysis and profit from the market direction.

Yea you are right, I understand what you are actually saying, but I believe that as a trader, the most important thing is the quality of trade you take, than the quantity. What he is trying to say is that each trade comes with it's own risk, their are higher risk trade, their are also lower risk trade. Their are trade were you spot the signals very clearly that it's a must win trade, and those kind of opportunities mostly comes in the market, but not always, so I believe that in other to be successful in the craft, it's best to be patience enough to wait for such opportunity than to be trading a market you aren't certain of. Then lastly, one major reason why it's very important to take only quality trade is that, in trading you can lose all your winnings, even with your initial magin in a single wrong trading if your risk management strategy is not properly utilized, so it's best to go for a trade or a set-up you are only sure off, than to risk it on less quality trade.

The problem is that a clear direction is also very difficult to know precisely and also more accurately because in the last two days the market conditions have been corrected and have caused more people to experience losses, even though before that happened the market conditions still looked fine and there were no signs of a correction too deep. But what happened was beyond expectations so that everyone who experienced losses had to be more patient but had to keep trying to get other capital so that they could re-enter the market in better conditions. But what's unique is that you immediately have wise advice like that after you experience something bad, namely a loss, just try if you have wiser thoughts before that happens, of course you won't experience more losses because you have control over your own emotions. But you have to make all of that a valuable lesson for yourself and other people can also learn from the experience you have had so that you can be wiser when you are in the market for trading purposes.

Well its your loss if you deliberately trade without any direction. Most users just follow any blind shill just because they thought its gonna panned out. However they dont mind checking the marketcap, is it good project, whats the team share or alloc for investors and circulation in total. Something like this must be known or taken into account prior to rush trade.

I don't want to say it's wrong, chance or chance, including part of crypto trading, can be interpreted as not being reckless and emotional, but you can't guide these two factors, what you end up with is just luck in your trading. Learn from trading experts how to determine the right analysis and opportunities before trading, you don't have to just have opportunities and opportunities, it can be detrimental to you, the crypto market situation can change in a matter of seconds, So consider other sectors when trading, so that you can be more efficient in doing so, trading knowledge is important besides opportunities, so understand your trading structure well, before you are defeated by your own opportunities. Maybe you haven't found the right directional trap in the crypto market, where when they see a trap trend traders flock to it, but they don't realize it's a trap, So that if you experience losses, learn and understand the meaning of trading well regarding real market movements and opportunities without traps, so that you can do it safely.

Not all does have the funds and its true that you are really that indeed lucky if you are really that having that reserved funds because anytime you can dive in on making some investment at the time that you do see up some opportunity on which in comparing into those who doesnt have then they will really be just that regretting at the time that they have missed out the opportunity. For those who do have that good spotting of opportunities but doesnt have the money that they can use into then it is really that a disappointing condition because there's nothing you can do but to see out those prices shooting up and since you do know those good entries but since you dont have money then you do just simply missed it out and thats why we cant be able to blame out someone who dont make money. Trading because of some desperation will really be just that leading into tons of errors because instead of thinking up well then you do get disrupted because you are thinking on something else. Not all people who do have the money will always be having the advantage or the positive results because if we do tend to look up on the chance or odds then it will really be that still random. It is just that to those who do have money then they do become that too careless into their trading positions. We do know that all of people who do have that money making opportunity then we will really be having thatk ind of action but of course not all will really be that thinking up on how they will be that trying out to adjust accordingly.

So when is the right time? If in the end it relies more on luck then it cannot be ascertained when to enter the market to trade. Everything requires careful planning, clear financial management and understanding how the market works based on knowledge. If you rely on guesswork then it will be difficult.

The trading platform is a platform where the more time you spend, the more you get attracted. No matter how much we say that we should not trade until the market goes in a certain direction, but it never does. Whenever there is money in the trading platform, you will want to watch the market again and again. If there is a little dumping, you will not be able to hold yourself back and you will automatically go into trading. I have seen this many times, I have never been able to wait for a maximum dumping. So if you have enough money, you will definitely want to trade.

A trader like you will be good. There are times that the market will be bad for a short period of time and later become good again. Even some people set limit order at a very low price for this reason. It is a good strategy for swing traders. But a day traders and scalpers trade in a different way. Scalpers may use 15 minutes candles while day trader may use 1 to 4 hours candles. But why what you said, you will use 1 day or more like 1 week candles for your trading. Yours strategy means more patience and better but some people can still make profit from scalping and day trading.

You need to do an analysis before opening a position, but one thing that must be understood is that it is not a guarantee that the market will move 100% the same as the analysis, traders predict but it is impossible to predict it accurately, so it can't be said that there are no clear signs, everything is just predicting by reading each chart presented.

@OP, in my trading journey, someone one said to me that I should learn one or two strategies very well and master them and once I have done that, I should only wait  until my confirmations a accurate before taking a trade, that I should learn to execute my trades like a robot without emotions. The reason he said that is that, if I wait for my right set up, I will only take trade and set a stop lose which I would not feel emotional after losing, perhaps even with the right set up, is not all trades that must be successful. So, in the aspect of being emotional, learn how to deal with your psychology because that how you can become a successful trade. Also learn about risk management and also make sure to always identify the market direction before you take a trade. Market usually have three movement patterns which are ranging market, uptrend and downtrend market.

Any person trading without discerning an opportunity is only gambling with his funds and not actually trading as it should seem. We must first do our technical and fundamental diligence before opening a trade and not by the availability of sufficient funds at hand. I have read and seen people who burn account of millions  in a single wrong trade and also had traders who grew a $100 account to millions. Being successful with trades is about patience and with the right knowledge, the size of the trading account is just secondary.

That's simply not trading, that's just gambling then. Trading should always have some sense of direction or basis, you don't just buy an asset and wait for it to grow. You look for an asset that will grow in the timespan you think it would, buy it, then wait and sell once there is profit. That kind of mindset seems like you think of money = opportunity, which is mostly an idea beginner traders have imo. Doesn't mean that you losing means that you didn't do this. Losing money is pretty normal after all when it comes to trading Still, realizing it is good. Pretty sure a lot of us have gone through the same, even I did really.

I agree with what you said op, there is some truth in what you said, because if you trade because you have a fund to trade, for sure in the end you will always lose. And maybe with this mindset and method that most traders do, they always end up liquidated. But if you trade because you see an opportunity, that is really better, but the question is how and when will you know the good opportunity to trade? You should have asked this question op and included the answer as well. Right op?

I didn't read the whole thread of yours, and I ended up with the text that I bolded because that bolded text alone is enough for me to say that you did something wrong, and you let your emotions take you that's why you might've ended up losing. How to look at a clear direction? Look at the higher timeframe, but this isn't enough for you to see the whole trend because anytime, the market can go down like what happened a few days ago where when many are expecting for it to go up since it bounced back, it went down even more. In crypto trading, there are lots of opportunities as long as you know what you're doing. It's all about maximizing those opportunities to get bigger profits. For you to see those "opportunities", you need to know how to read the chart at least in a basic way and make a strategy based on how you read it.

First and foremost, trading is highly risky and challenging so you need to armored yourself with knowledge and skills first before you decide to risk in trading. And you will only know that there is a clear direction in trading when you have already understood the nature of trading, otherwise even if there are opportunities to trade but you are not inclined to it, still you will lost the chances to end up with a successful and profitable trade.