When one first enters the trading game, it is most often challenging to know how to prepare for it. Even if it is an appealing approach to increase profit, it would not be as fruitful as one may imagine without a fundamental understanding of the basics and a few preparations.
How should one prepare before getting into trading?
I think the very first thing that people need to do to prepare themselves to become traders is to read a few books about the topic, one of the great problems that I have with newbies is that they come to this market thinking that they're going to make a fortune in a relatively short amount of time when the truth is that most traders that are successful take a long term approach when it comes to thinking about their profits, however newbies are so desperate to get profits in the market that they forget about taking the right precautions and to protect their capital and only begin to think about it once they have lost all of it.
Indeed, knowledge is the most important factor when trading, so it is better before deciding to trade, we should learn a lot about the crypto world.
So we understand how to make decisions, remember don't trade in something we don't understand. Once we have the knowledge, we have to
practice trading a lot, in order to determine the right strategy. But unfortunately most beginners are too hasty when trading crypto, they think
crypto trading is just buying coins at a low price and selling at a high price, even though trading is not as easy as it seems. There are many things
to learn, so as not to make the wrong decision. So it's not surprising that most beginners will experience big losses first, then they realize their mistakes.
