Topic: 7 tips to know about crypto trading - page 2. (Read 662 times)

There is nothing like top to know cryptocurrency trading. What we can do is to get tips that will improve our cryptocurrency trading. This is when learning comes in. We need to learn Crypto trading and for us to get aquainted to it, we need to get tips that will help us improve in our journey to become a professional traders that can predict the market even though the market is not that volatile for trading. There atrs many things crypto traders need to know to trade the market very well without having a consistent loses. Those who are making money in the market now are those that have learnt and understand the market and how it moves.

There are indeed many beginners who misunderstand this in the world of investment or crypto trading. Many think that trading or investing will make them quick to make a profit, even though having such thoughts is not quite right. Because as you wrote in this post, to make a profit in the crypto world, definitely need a process and coupled with thorough learning about crypto. So if don't enjoy the process, how can benefit? Maybe the reason beginners think like that is because they know or hear that there are many people who make big profits from investing or trading crypto. So the beginners joined in with the crypto world, with the desire to get profits quickly.
His name is also trading, profits and losses will always be there. But the loss can be minimized with the right knowledge and always learn from experience. In this way, I myself have practiced and proven that losses in crypto trading can be avoided. Most importantly and don't forget, never be a greedy person when trading in crypto. Because according to my personal experience, it is greed that is the most dominant in trapping traders to enter into losses.

The higher your capital, the higher your profits or loss that you get from trading. Most new traders just think for them to make profits from the market that they have to increase the capital that they use for trading. But that's not how the market works. You increase you capital only when you can guarantee yourself of making profits so the capital increase make the profits to be higher than want you get previously.

A tip that can be very useful for new traders is to start small, don't use high capital when you just started trading because at some point you'll make mistakes and when that mistake comes it shouldn't be a mistake that might result to you quiting due to the amount of loss you experience.

And it is unlikely this is going to change, after all influencers make money by trying to get more people to watch their videos and to subscribe to their channel, how many viewers could they get if they told the truth to all of those newbies and said to them that trading is incredibly hard and the majority of them will fail?

Not many I suppose, while those which are not afraid to lie and tell the newbies what they want to hear get all the viewers and money they may want.

I think, I'm very sure that if many people know about the things that are listed above in the OP, they really understand the various tips and advice. But the problem is that they are ignorant of it, and continue with what they imagine, not according to reality. Sometimes this happens because their expectations are too high, their inability to manage and control themselves, and their unwillingness to learn first.
This is often a big problem for both beginners and those who have been in crypto trading for a long time. While we are well aware that crypto trading is actually very risky, some people are really ignorant of this. There are even some newbies who dare to take loans for trading, hoping that they can get a lot of money quickly. However, the reality is usually the opposite.

Yes exactly because trust someone blindly can be very dangerous and full of risks. You should not even share your private information therefore sharing the details to others and trust him so much to give him your asset does not sound well. Scamming is not a hard thing to do so it's up to you that how you will avoid scammers and don't believe on others. Other disadvantage is that if unfortunately he losses it then your link of friendship become weaker because you will blame him and he will left with disappointed heart.

It gets to be very funny how people keep giving this trade advice, but forget to put proof that they are putting this advice into practice and are having results, hiding the truth is a big problem that many people have or like to do. I ask:

- OP, do you have any success in the trade? how much capital have you put into the trade and how much profit have you been making daily, weekly and monthly?

well, here's the thing, years ago I also started day trading, studying and studying was all I did, watching many videos on youtube, reading many books and practicing a lot, but over time I realized that day trading it wasn't profitable, it was simply something that wasn't worth it, I came to think that the problem was only with me, but then I started to see that in fact it was with almost or maybe all people, those guys on youtube none of them post proof that they are winning money with trade

they make money by giving courses, they make money from their youtube channels and telegram channels, but they don't make money from trading, so I hope people don't get fooled by trading, the best way to profit in the cryptocurrency market is to buy and hold , buy whenever it drops a lot and do hodl in the long term, if the person follows the advice of those other people who say they trade, all the person will have will be losses and disappointments, he will buy and wait the whole day to go up and sell because he thinks that it will drop a lot and as you put a stop loss you will sell and weeks later you will see that the price rose while you sold and you could have profited if you had done hodl

I agree about that because many people still think that crypto whether it's trading or holding is a rich quick scheme.

That's what they don't fully understand about it. And just like any other markets that do have times to struggle, that's how it goes when you don't understand it.

While looking at those people boasting profits they've made from the crypto market, they're making it look easy but in reality it's truly hard to make such profit in here if you're not prepared, mentally and financially.

This post made me recall back to my past, a few years ago talking about borrowing money to start up trading, for me I borrowed some money to start up trading I would say it did favor me but it was a 50/50 you can lose or gain but I will advise for a newbie not to see it like that and also talking about The great Mr emotion it all know as the controller in trade today, many newbies fall in the victim of it don't have control when trading, lastly mr greed I no for someone to govern it is a hard thing but still one can have a  complete control for this things
I could tell you today trading is not something you can learn in a day or two it is learned over a year and also it is not for kids that why learn you have to  study it l
 like a course
For myself,  I do call it trade101.

Experience trading in the market, that’s the only way that you will end up realizing that trading is never easy and will never be a source for quick profits. But as long as you keep on learning and make yourself grow in trading, know that it will be easier for you to trade for profits and will be more able to control unexpected losses. That’s how crypto trading works, it’s only hard in the beginning but you’ll get used to it until you start mastering it and make yourself profitable.

I don’t think newbies will come to realize that since they are even using it as their motivation why they enter the crypto market. Yes, they are greedy in the first place, but we all know everyone who enters the market is all about quick and huge profits that will make them rich in the end. So I think that’s somehow a good thing because eventually, as they go on learning and embracing investing and trading, they will start to realize that everything that is gained is through hard works and efforts and profits do only come to those who patiently and tirelessly work for it.

And you missed that there is an 8th. That is the actual practice and proper implementation of these 7 tips. You see it is not about knowing, it is how well you apply what you know. Because in trading, you are not rewarded for what you know, you only profit on the market on the decisions you made. And the quality of your decisions depends on the small things that you do in front of charts.

And remember that successful trading is not an event but a journey. Because if one day you realize that you already figure it out and you have the holy grail, I'm pretty sure that on your next trade, you will be humbled.

There is only one thing that I agree with you said trading here in cryptocurrency is not a rich-quick scheme. To learn crypto trading, there really is a process, it cannot be without it. And the first step here is to now learn and practice it at once in the actual trading platform in any of the exchanges.

And it's much better to start with a small amount while you learn about crypto trading. It's better for me to balance both theoretical and actual trading right away. Through this, in a short period of time, you can immediately see the idea of crypto trading in reality.

Many of these pro traders keep posting there results online and this used to make some persons that do not know how trading works t ok think that trading is very easy to accomplish and make money from it. Make we don't ask questions about what we urge to know, we might end up losing the necessary information we need to know that will give us an impressive beginning to how to become a successful trader.

So many things to learn and sometimes if we don't study the necessary, we might keep seeing loses Everytime because we failed to learn it all. There are different things and ways traders do there things to make sure that they keep making profits from the market and if this is mixed up, we will end up getting it wrong.

The reason why a lot of people still believe that trading is a get rich quick because the social media feed it. That is why never rely on crypto influencers as most of them do not know actually how to make trading profitable. They know that there are huge profits in trading, but what they didn’t know is that they can also incur a lot of losses from trading. That’s why before you decide to trade, think a lot about it and trade only on the amount you can easily manage to lose.

Stick with the basic. Just invest an amount that you can afford to lose, otherwise if you use your money intended to pay the bills or to buy your necessities, you will really be in trouble after that. Most especially with trading, as it won’t guarantee easy profiting so you have to be more skilled and knowledgeable enough before you decide to trade and risk your money. You know, money is almost everything these days, so make sure if you risk some amount, make sure you will gain more than to lose them all. Trading is hard, but if you are a good one, then you’ll also be rewarded with life changing profits.

Agree with you that no tips and tricks involved here , actually trading is much easier to understand only when your goals and targets are specific. As such says that successful traders learn from the mistakes. Well said here that your personal intention towards the crypto trading always helps that how to pay attention and how to play. You must keep yourself updated with the latest news and trends in the cryptocurrency market. Do the practice of risk analysis/ management. Also consider that that crypto trading involves risks, and there are no guarantees of profits. It's advisable to start with a small amount of capital that you can afford to lose, especially if you are a beginner. 

I totally with you.

Actual trading is much more easier to understand rather than watching a lot of videos before you actually trade. Though it has its own disadvantage and advantage, trading right away is much riskier but you'll gain experience instantly that you will need in the long run, while the other one is a slow phase though the risk will still depends on how much you will enter per trade.

In short, it will all vary on the trader on how he will execute risk management perfectly.

The "not get rich quick scheme" part is the most important thing because there are way too many people who think that they are going to get rich when they invest into crypto, it is not an automatically profitable thing, you might lose your money as well. The only thing that is more guaranteed if you are careful about it is a gradual increase and that will benefit you the most.

Maybe you won't get rich in a month, but you can realistically make 50% a year over course of 10 years, even if some years are bad like last year, some years could be even better like the year before, and that will come to 50% yearly profit on 10 year basis and that will make you rich, do that for long time and you are super rich. People need to come down from the clouds and look at the real life.

 

Yes, because of the danger involved and the volatility of cryptocurrencies, it is not suggested to borrow money to trade them. As a result, one might not be fortunate enough to make a profit or it might lose money no matter how good it may be. Borrowing money, however, shouldn't be an issue if you have another way to pay off debt, and I don't think it will put you under strain when you're trading. However, this should go for experienced traders, not simply novices who have never engaged in trading before.


I can say this is not common in the cryptocurrency industry, but what know is that a lot of people are looking for a signal, which I believe is not that helpful because many of those that give signals are liars, and I see it as a scam.
Yes, capital plays a very important role in profit-making in terms of trading, but it's all not about capital alone, someone's knowledge and skills in terms of trading are what determine the profits someone will make. There are some people who make reasonable profits with small capitals because they are good traders, so capital with good knowledge is the one that determines the amount of profit someone will make from trading.