Can I become a professional trader? - page 4.

Juicy_D

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Quote from: Oshosondy on January 15, 2024, 08:05:01 AM

Quote from: Life_Saving on January 15, 2024, 08:00:01 AM

I want to choose crypto currency trading as a career but I feel like I need to know a lot about it to choose it as a career and I don't think there is anything better to do from here.
As I am new to this place I am trying to know which aspects I can take Cryptocurrency trading as my career if I know well.

Do not take trading as a career. It will not be helpful. Have something else that is your primary source of income and begin trading with small amount of money that you can afford to lose. See trading as gambling, although it is not gambling but it is as risky as gambling.

Quote from: Life_Saving on January 15, 2024, 08:00:01 AM

After searching various online platforms youtube twitter different places I realized that if I want to do cryptocurrency trading it is very important for me to learn many things first including -

Technical analysis
Fundamental analysis
Candle Analysis

Yes it is very important to learn technical and fundamental analyses. But trading is more than that, you need to have strategies that can help you not to lose more than gain.

Taskford

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Quote from: Mauser on January 20, 2024, 08:22:12 AM

Quote from: Life_Saving on January 15, 2024, 08:00:01 AM

If I can master the above I think I can be a successful trader Another thing I noticed is that when the market goes up or down again, no chart or technical analysis or fundamental analysis works Do I have to depend on the news or should I pay attention to the news that if there is good news in the market the market goes up a lot and bad news actually the market goes down a lot I am gaining knowledge from YouTube or different online platforms to become a professional Cryptocurrency trader

When reading through your thread I get the feeling that you have no experience yet as a trader. That's not a problem, but I want to manage your expectations a bit. Everybody had to start somewhere and learn how to invest and trade crypto currencies. The question is do you really want to go directly to becoming a full time trader? Why not first learn and get the experience while trading part time next to your job? This has a lot of advantages, you have a stable source of income to fund your crypto portfolio and let's you trade more and it takes pressure of you to achieve high returns every month. Trading can be very hard and if it's your only source of income you need to know what you are doing. As for your technical analysis part, they definitely work and will be profitable. The only problem is that they work on past trading data. So whenever there is a jump or a reversion in prices, it's going to take time for the technical analysis to show the change in trends. It's not a tool that gives you instantly the best trading recommendation.

For sure he's a total newbie since he would not ask this question if he already got some knowledge about trading. If he know or face already those risk in different scenario for sure he can figure out that trading for them or not. If he really want to became a professional trader he must consider this thing since staying up and be active all the time on your trades is somehow needed since we need to watch and see each result shown since this could help us get more profit also additional knowledge on this industry.

Technical analysis part is tool or methods that people need to have since from that for sure they can figure out something difficult to understand by the help of some tools that are helpful to have so if OP really want to became a professional trader he should start consider to be more active in trading scene and for sure there's a lot of knowledge to get from this doings.

snowpega

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OP, in the world of cryptocurrency the more knowledge you have will be counted as less because it needs strong research, Good TA(Technical analysis) and Good FA(Fundamental analysis), and many more things you aforementioned. My advice to you is that never take trading for your career because it has a high risk of losing of funds. Find another job and take crypto as a side hustle but also keep learning about the crypto industry.

If you are new to the crypto industry start by holding and when you realize now you can make trades then start from the little amount you are willing to lose and easily can bear it. If luck goes in your favour you can earn as well from your trades.

Dimitri94

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Quote from: Life_Saving on January 15, 2024, 08:00:01 AM

Technical analysis
Fundamental analysis
Candle Analysis

In order to become a professional trader, it is necessary to have adequate knowledge on various subjects. Becoming a professional trader cannot depend only on doing three basic analyses. There are many other things involved with it. For example, a trader needs to keep track of recent market movements along with money management, risk management. A trader needs to make a regular trading plan and keep his knowledge up to date. He should also be involved in the crypto trading community. Any news should follow him quickly. Because trading should not depend only on basic analysis. It is also important to keep a regular trading record and adapt yourself quickly to market changes. I think professional traders definitely try to take these things very seriously.

Mauser

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Quote from: Life_Saving on January 15, 2024, 08:00:01 AM

If I can master the above I think I can be a successful trader Another thing I noticed is that when the market goes up or down again, no chart or technical analysis or fundamental analysis works Do I have to depend on the news or should I pay attention to the news that if there is good news in the market the market goes up a lot and bad news actually the market goes down a lot I am gaining knowledge from YouTube or different online platforms to become a professional Cryptocurrency trader

When reading through your thread I get the feeling that you have no experience yet as a trader. That's not a problem, but I want to manage your expectations a bit. Everybody had to start somewhere and learn how to invest and trade crypto currencies. The question is do you really want to go directly to becoming a full time trader? Why not first learn and get the experience while trading part time next to your job? This has a lot of advantages, you have a stable source of income to fund your crypto portfolio and let's you trade more and it takes pressure of you to achieve high returns every month. Trading can be very hard and if it's your only source of income you need to know what you are doing. As for your technical analysis part, they definitely work and will be profitable. The only problem is that they work on past trading data. So whenever there is a jump or a reversion in prices, it's going to take time for the technical analysis to show the change in trends. It's not a tool that gives you instantly the best trading recommendation.

abel1337

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FOCUS

Quote from: Life_Saving on January 15, 2024, 08:00:01 AM

I want to choose crypto currency trading as a career but I feel like I need to know a lot about it to choose it as a career and I don't think there is anything better to do from here.
As I am new to this place I am trying to know which aspects I can take Cryptocurrency trading as my career if I know well.

After searching various online platforms youtube twitter different places I realized that if I want to do cryptocurrency trading it is very important for me to learn many things first including -

Technical analysis
Fundamental analysis
Candle Analysis

If I can master the above I think I can be a successful trader Another thing I noticed is that when the market goes up or down again, no chart or technical analysis or fundamental analysis works Do I have to depend on the news or should I pay attention to the news that if there is good news in the market the market goes up a lot and bad news actually the market goes down a lot I am gaining knowledge from YouTube or different online platforms to become a professional Cryptocurrency trader

Is there anyone here who is a professional trader, I want to help him that apart from the above mentioned things, what should I know as a professional trader, do you know of any platform or site from where I can take professional trader training ?

Just like others, I also don't advise to make crypto trading as your career. It is nice to have that trading skill but maintaining it to be profitable everyday is so hard that there are only few people who live on doing day to day trades. Having a good trading skill also takes years before you achieve it.

Based on the post you created, you have an idea on how to start being a trader. It's nice that you did research, try executing it as it is the hard part. If you are serious about doing it as a career, try watching youtubers that is doing day to day trades.

God bless u

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Quote from: DVlog on January 16, 2024, 12:43:12 PM

Quote from: Life_Saving on January 15, 2024, 08:00:01 AM

I want to choose crypto currency trading as a career but I feel like I need to know a lot about it to choose it as a career and I don't think there is anything better to do from here.
As I am new to this place I am trying to know which aspects I can take Cryptocurrency trading as my career if I know well.

After searching various online platforms youtube twitter different places I realized that if I want to do cryptocurrency trading it is very important for me to learn many things first including -

Technical analysis
Fundamental analysis
Candle Analysis

If I can master the above I think I can be a successful trader Another thing I noticed is that when the market goes up or down again, no chart or technical analysis or fundamental analysis works Do I have to depend on the news or should I pay attention to the news that if there is good news in the market the market goes up a lot and bad news actually the market goes down a lot I am gaining knowledge from YouTube or different online platforms to become a professional Cryptocurrency trader

Is there anyone here who is a professional trader, I want to help him that apart from the above mentioned things, what should I know as a professional trader, do you know of any platform or site from where I can take professional trader training ?

I saw people make their careers in the forex and stock markets, but in crypto it can be really dangerous for someone whose primary income source is only the crypto market. This market is highly unpredictable, and with all the knowledge you are talking about, it won't be able to help in a major crash. You can anticipate trend changes in crypto market but there is not way you will be able to predict about all the major crash crypto market had often because all these cash is based on news events which can not be anticipated through any kind of analysis and these one crash can destroy your whole career.

What you have written is also very true, but at the same time, it needs a great teacher who can make it professional, and also what if the social media they can learn a lot about trading in the media that has become a YouTube channel, and at the same time, there is also a Telegram channel. Even more than this, a person can learn. There will be many opportunities to learn it. It will be learned little by little, but it will take some time. Everyone can learn by but need a good teacher for trading

stomachgrowls

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Quote from: Awaklara on January 19, 2024, 09:01:31 AM

Quote from: kotajikikox on January 19, 2024, 07:37:53 AM

It has been told by everyone mate that this is not a career , there must be other source of Income for you to survive (not unless you are lucky to find GEM and become an instant millionaire but that happens only Once in a Blue moon or in a million)

and also try to find a mentor either a paid one or free because this is a not so easy task to understand , there are lot of technicalities to learn before becoming successful.

OP probably aims to trade every day and wants to make a profit on every trade he makes.
unfortunately, he is a beginner in trading, so it would be hard to believe that he is ready to trade with the capital he has.
even though he has a lot of knowledge in trading, it will not be enough to prevent him from losing on every trade. at least he had the desire to learn, in case he ran into problems in the future. I'm sure he will understand how to trade he should do. not an easy thing to do, but perhaps easy enough to say.

If you are completely that a noob on trading world then you should really that make yourself having that kind of realistic approach towards trading on which you shouldnt really be that making yourself that too optimistic towards it because if you do then you would really be that making yourself that too desperate on the things that you've been involved with specially with trading. Who doesnt really want to become a pro trader?
We do know about the opportunities and benefits that it could possibly give on which we could really be able to make it as a full time job on which we could really be able to earn more and would be able to
make it possibly as our source of income.

It is really just that it would really be that depending on what are your targets and what are your goals because not all would really be that
having that kind of dedication when it comes to this kind of target or goals you do have in mind.

|MINER|

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All the points you mentioned are correct. But trading should not be taken as a permanent profession or a full time job. It can be done alongside your main job. And if you are a beginner, you have a lot more to learn. There is a lot to know. Trading is not that easy, it is very difficult to master. If you take it as a full time job in the beginning, you are likely to face a lot of harassment.

justdimin

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Quote from: Questat on January 18, 2024, 08:54:45 AM

As long as we can, it is likely possible. But I would say that becoming a professional trader is not too easy. Many people had tried this kind of job but guess what, many of them had quit. We can ask why but it is because not all are meant for this job and of course, this won't work for impatient, emotional, and greedy people.

So if you think you can control yourselves and embrace the pressure it gives, it is not impossible to reach.
And most of all, we don't have to stop learning and become confident enough as we already acquired knowledge and skills instead, continue to learn more things from our experience.

I would say it is not even necessary to be fair. I mean if we are trading whenever we find the time, that should be more than enough, trying to be a full-time trader doesn't really make sense to me, it is not what we should be looking for at all. I am not saying it is a bad idea, I am not saying it is something we should avoid, all I am saying is that it is useless and excess, there is no real need for it.

If you want to, just keep working your job and keep trading when you get the time, some jobs you can even trade during the job, obviously not manual labour, but if you are an office worker, while you are not doing anything, you can check the situation and trade a bit. That is why I would say that full time trader is not really a good idea.

Awaklara

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Quote from: kotajikikox on January 19, 2024, 07:37:53 AM

It has been told by everyone mate that this is not a career , there must be other source of Income for you to survive (not unless you are lucky to find GEM and become an instant millionaire but that happens only Once in a Blue moon or in a million)

and also try to find a mentor either a paid one or free because this is a not so easy task to understand , there are lot of technicalities to learn before becoming successful.

OP probably aims to trade every day and wants to make a profit on every trade he makes.
unfortunately, he is a beginner in trading, so it would be hard to believe that he is ready to trade with the capital he has.
even though he has a lot of knowledge in trading, it will not be enough to prevent him from losing on every trade. at least he had the desire to learn, in case he ran into problems in the future. I'm sure he will understand how to trade he should do. not an easy thing to do, but perhaps easy enough to say.

kotajikikox

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It has been told by everyone mate that this is not a career , there must be other source of Income for you to survive (not unless you are lucky to find GEM and become an instant millionaire but that happens only Once in a Blue moon or in a million)

and also try to find a mentor either a paid one or free because this is a not so easy task to understand , there are lot of technicalities to learn before becoming successful.

Essential10

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OP, You may find success in trading, but I think it is not a guaranteed career for you and should not be relied upon as a primary source of income. Before trading as a career you need to prepare mentally, start slowly. Trading requires discipline, patience and risk management, never take it lightly. There is no end to learning trading, just because you skills trading doesn't mean you can always make money from it. To become a professional trader you must have the right mindset, dedication and hard work. But take enough time to learn and practice before making it a full-time career.I hope you will be successful.

AnonBitCoiner

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Quote from: humanvelocity on January 18, 2024, 08:45:17 AM

Being a professional trader is not too easy. It requires alot of study and making sure to get the foundation right. Dare i say you even need some luck on your side to find those early signals of a breakthrough?. If someone decides to dedicate their day to day life at reading charts than the world is yours.

Every success requires time so if someone wants to be successful and professional traders then he should give time to read the charts and other information about the market because more you learn more you will be profitable and less will be the chances of lossing money. Everyone wants to be an expert trader but at start nobody is expert and you can find out about professional traders that they also have loss large amount of money but now as they learn from past they recovered their lost sum again.

An expert trader never concentrate on a single project but investigate about every new coin because sometimes new opportunities brings more profit. One should learn well and search about price chart and technical analysis so by using such things he can better understand about the market. Regular success and less loss will one day make you a professional traders but for it sacrificing your precious timing is needed.

Viscore

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Those well-experienced traders these days might also have the same thinking with you when they were still newbies. That learning the basics in trading could make them highly successful in the future. But in reality, it’s not. There’s more to trading than simply learning its basics. But if you will embrace the risks scenario in trading, most likely you will be trading for long, but it won’t be a guarantee that you’ll end up being profitable one.

We all know that majority of the traders in the crypto space are not actually profitable, a lot of them are still combatting their losses. But the fact that they don’t get discouraged with it and chose to educate theirselves more, then it’s more likely that will be good and successful traders in the long run.

synchronym

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op You can't choose Bitcoin as your career first. Because if you are totally dependent on Bitcoin then it will be seen that you will have to spend your daily necessary expenses from where you invest your Bitcoin. So if you have to do something else besides Bitcoin then you won't be as successful with Bitcoin. Bitcoin is risky as we who invest in Bitcoin are risky. If you invest bitcoins alongside other jobs then the profits you get from bitcoins you can invest back into bitcoins so you don't need to be completely dependent on bitcoins. When you see that you are getting more profit from bitcoin investment to support your family then you will stay with bitcoin instead of doing anything else.

Bushdark

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Quote from: humanvelocity on January 18, 2024, 08:45:17 AM

Being a professional trader is not too easy. It requires alot of study and making sure to get the foundation right. Dare i say you even need some luck on your side to find those early signals of a breakthrough?. If someone decides to dedicate their day to day life at reading charts than the world is yours.

It is going to take us a very long time before we even become something professional. There are lots of experience, pains and mistakes we would have made in the market for us to be seen as a professional traders. The journey of being professional is never easy and we need to be ready to follow the appropriate steps that would channel us to become a profitable trader in the crypto market.
There are any things available for us to learn so that we can amkw money from the market

Distinctin

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Learning all the fundamentals and technicalities in trading does not make you an instant professional trader. Of course, it takes time before you can develop professional trading. It could be years or a decade, it varies based on how long the experience needed for you to be able to become a successful and professional trader. But one thing is certain, everything is done with hardwork and patience, before you can see yourself totally good and experienced in trading.

TelolettOm

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Quote from: Life_Saving on January 15, 2024, 08:00:01 AM

As I am new to this place I am trying to know which aspects I can take Cryptocurrency trading as my career if I know well.

Since you are still a newbie in crypto, I think it is too early thinking a career on trading or want to be a professional trader. Why don't you focus on learning everything about crypto trading? Because you don't have experience in trading, you don't know whether trading will fit with you or not. You can think further about career in trading when you already try it and you are comfortable with trading.

Quote from: Life_Saving on January 15, 2024, 08:00:01 AM

After searching various online platforms youtube twitter different places I realized that if I want to do cryptocurrency trading it is very important for me to learn many things first including -

Technical analysis
Fundamental analysis
Candle Analysis

These are all about the knowledge of trading. Sure, you must have good knowledge in analyzing crypto. We must know both fundamental and technical analysis (I think candle is a part of technical analysis). But we don't forget that there is one thing we must have as well. It is about the mentality to be a good trader. We won't be a professional trader if we have weak mentality. So, we must improve our mentality as well, it is an important thing, too.

stadus

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Everyone is entitled to become a professional trader, but that will also depend on how much effort you have put in your trading journey. While training can motivate yourself to be a good and professional trader someday, but I say learning trading even with small funds in the crypto market is a good starting experience, trading on an amount that you find comfortable to lose.

It's not actually hard to learn trading when you are willing to experience a lot in the trading market. Of course, losses are there, as you wouldn't be good enough if you never experience frequent losses and mistakes at first.

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