Topic: Can I become a professional trader? - page 7. (Read 1173 times)

Trading is something that is being done with the precaution and the understanding many people has tried to trade but they failed because the lack of the understanding and they also have not digest or comprehend the exact format of trading before the ventured into trading, secondly I believe that trading is something that you have to come down and understand the consequences and the basis before you can be able to start your own trading, who lost into trading today is as a result of lack of knowledge or lack of understanding of it properly before them venture into it

Can't really say you can become a "professional trader" if you only learn about those analysis. Everyone can read up those analysis everywhere and the result depends on how they implement it in a real trading scene. But what matters most is the experience, experience is a part of your success bcuz when you have lot of experiences, you sure know what to do when X news happened and then you can decide what to do based on your past experiences.

Sure reading the news is important, but the reaction to those news are vary between each trader.

Candle analysis is already that part of Technical analysis on which you are basically be needing up to learn up on reading up candle patterns as part of TA and making use of those indicators on which it would really be giving out that kind of idea on what are the steps and move that you would really be making on which it would really be just that right that you do really know or having the idea on what would be the possible price movement that would happen but of course dont make yourself believe that it would really be that 100% precise. We should make ourselves believe that there's no such thing about assurance because once you would really be able to make yourself be able to encounter those things mainly like volatility.

Being a professional? It wont really be that a short time on which you would really be needing to pass up a long winding road which you would really be able to experience those
tons of trials and errors along the way before you could make yourself one. ITs not simple but somewhat its not an impossible thing to do so.

Trading is designed to be a passive way to earn and not necessarily a major source of income. This does not mean that there are people who are not using trading as a major source of income. They are just few and this few, not all are successful. The best thing to do is to have a major source of income while using trading as a passive way to earn. If you wish to only focus on trading, it is not advisable. This is because cryptocurrency is a volatile assets and it cannot be accurately predict. Even if you have to apply all the three methods that OP listed above.

I have heard of technical and fundamental analysis. But I haven't heard of candle analysis. I think candle analysis should just be under the technical analysis if we do not actually want to complicate issues.

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.

Sure you can, there are some opportunities for traders lately where you are being funded and also provided with guidance in order to have good understanding of trading, just like the Bitget trader pro program.

Trading doesn't mean that your future is secured and that is why you should only see trading as a part time job and not a full time job. This is because, it is very risky and has no guarantee that you will make profit, especially a newbie like you who just want to start learning on how to trade. Trading needs special skills, and it is not every trader that can be patient with the market. Get a primary source of income so that you don't get frustrated and regret your actions in case trading fails you and run at big loss. The volatile nature of bitcoin and cryptocurrency at large makes it not easy to make profit. If you must trade, you should only use the amount of money that you can afford to lose, so that you can have experience of the market. Remember, to be a good trader, you must be able to control your emotions. It is better to invest, as it is easy to hodli and build up your investment, than trading, because trading is complex. Trading is easy said than done.

Candle analysis as you called it doesn't exist as an entity on its own. It's a part of TA, technical analysis. Anyway, I've read of analysts talk about a third type of analysis called Sentiment Analysis. For me, the SA is also Fundamental Analysis as it's majorly what happens in news, of FOMO and FUD. So, the whole thing boils down to two – TA and FA.

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On whether you can become a professional trader, I think you jumped the gun. You've to become an amateur trader before going pro, right? Going pro means earning a living consistently from trading. It's doable but you've to put in the works first. Learn the set skills and master them. Trading isn't that hard that it can't be learned. Get source materials and have a dedicated mentor you take instructions from until you master the ropes. However, while at it, know that trading is basically a speculative thing and that no one holds the holy grail. Even pro–traders also have moments the market messes with their brains. Any trader who tells you they don't suffer losses from time to time is a liar. What matters at the end is the ability to stay consistent on the blue line and let it surpass the red line.

Well besides  the analysis stuff, keep an eye on market news because it can shake things up. Learn how to manage risks and don't let emotions take the wheel. Connect with experienced traders and trading communities for real-world tip like this forum. It's a wild ride, so keep learning

I wonder why people are saying you shouldn't use this trading as a career. Honestly, I do believe that there's not anything useful in this world. If your mind is in it do it. Besides, those elite traders on Bitget have a lot of benefits. If you can study hard and still follow the part you believe in, I tell you. You did are people who would call you to trade for them

Of course you can become a professional trader but take time, you have to learn a lot of things which already you mentioned here. But I don't understand why you want to take it as a carrier, it is not like that job and getting money regularly. Rather here you are more likely to loose than to make a good income.

All listed above a very much important for you to know if you must be a good trader, in a bid to getting good knowledge for trading you need the above very much and if you have a good knowledge of them all then you are ready to trade trade a great extent but then you more than just technical analysis, fundamental analysis and. Candle stick analysis to trade profitably, you need emotional intelligence aswell as it's the greatest of need in trading, if you are disciplined enough not to allow your emotions have a greater part of you while trading then you can trade much better and profitably.

You shouldn't depend on news all the time to trade and the concept of good and bad news is relative and as trader you taking advantage of the news makes it bad or good for you.

Taking crypto trading as a career will be a very big mistake. Do not take trading as a career; you will lose more than you will gain. You need to get other things that you do out there that generate money, then use some of the money you get outside there to trade a small amount you can afford to lose. Did you know that trading has a high risk of losing your money? So imagine taking it as a career, which means you have to depend on it for everything you want. You must trade and get money before buying such things, which will be impossible given the fact that you won’t be gaining money every day.

Again, trading is not something you will learn in a week or month; trading takes much time before you can be professional in the field, and even with that, you will still lose money. That is how it works. The fact that any level of understanding you get for trading will still cause you to lose is natural, so I think you should find another thing to be doing while you are trading and make sure you take your time to learn everything before you begin to trade. Don't just jump into it; you won’t get anything.


Who tells you that if you master those things you mention, you will be a professional trader and start making money out of it? Your thinking is wrong. See, man, you need your own strategies that you will be pursuing while you trade. Every trader has their own that they use whenever they trade. It looks funny that you are looking for a way to follow the news in crypto. Not all news is good, and most of those news stories are fake. They won’t help. Here is a place where you will use the knowledge you have gathered to make money. Don’t listen to anyone; some people will give fake information that will result in losses. So calm down and learn what you need so that you can successfully do what you are about to do.

Everyone can become a professional trader but unfortunately, not many are willing to learn more about trading. You have written those three things that can make you a professional trader. But you have to remember that when learning to trade, there is no stopping learning because crypto trading will always continue.

This requires seriousness in learning to trade. And that's why not many people can learn it. I don't know if there is professional trader training because, as far as I know, people are more interested in looking for trading signals than learning to trade.

But you should still seek information from as many sources as possible and don't pay for training as much as possible because that doesn't guarantee that you can become a professional trader. It's better if you use the money to practice what you have learned. By continuing to learn about trading, you can become a professional trader. And don't give up if you haven't succeeded.

You've heard it from most of the pros in cryptocurrency that you shouldn't aim for crypto trading as a professional carrea, I personally think that you can still achieve your aim but at a high cost of incurring loses in the profession. I guess that is why they're trying to advise you safely so that you shouldn't over depend on it as a permanent source of income because of the element of gamble in it, because despite your understanding of fundamental and technical analysis, you can still experience loses. So that is why they think that it's better to have another source of income aside from trading, because of loses that can occur. However the choice is yours to choose trading as a carrea or not, but you must understand that profit don't happen everytime. My advice is trade patiently with the amount that you can afford to loose, also diversify in holding reputable crypto coin like Bitcoin as an investment.

Exactly! You do have a point; it's still best to have a stable job that could generate a stable income because trading has a risk of losing money, so it's important for a trader to have money to avoid financial problems. But still, if it's OP's desire to go full-time in trading, he better be ready for the hardships to face on this path. But from the looks of it, OP is still new to trading, and it can be bad if he goes full-time into trading without solid knowledge, skill, and experience in trading. So we suggest that before you come up with a decision to go full-time in trading, have some other ways to earn aside from crypto currency. This road will not be easy, so it's better to have a stable income first.

It's better to have many and different ways to earn money; it's much more satisfying as you could get the things you want, so don't just stay in one way to earn; try to explore.

I don't have the slightest idea to what country you are from, but you are certainly not from the United States, where to operate professionally you need a license, in theory, since you can still operate, and that tells you that to get experience in the world of commerce You have everything within reach, since currently in most countries it is an "empirical" preparation.

You have a plan,  what you wrote in the OP, but the interesting thing about crypto trading is that if you start today you can start to gain experience with little investment, that in itself has been one of the great virtues in the world-crypto, there are no ties when investing.

You will be professional when you accept that what you earn is your main salary, I know people who are very successful in crypto trading and earn more than their main job but for legal reasons they put it as a secondary income, since there is a reduction of taxes and depending on the country they may even be exempt.

So, keep an eye on the legal side of your country as well, since a professional in the crypto world who trades must focus on several areas of knowledge.

I believe you need to do a lot of stuff in order to become a fully-fledged trader. The things that you need to have in order to be successful that I can think of are the following.

• Education - like what you said, you need to learn many things
• Knowledge - about the risk of trading, like really understanding it and managing the possible risks involved.
• Practice - you need to have actual trading experience and possibly develop a strategy
• Capital - you need money lol

Those are just the things I could think of now. You need to really just go with it and push yourself to see if you can be successful.

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Who are you to forbid OP? Lol. Can you clarify 

I am not forbidding you from studying candles or technical analysis, but in crypto bad/good news will have a big impact on the market, so it will have an immediate effect in the short term. so you will get used to it later.

The three things that OP mentioned are very helpful in supporting trading activities. And that is more than enough for the OP to start a career as a professional trader. Maybe what I am going to say has already been said or has been mentioned by several forum members here, there are several other supporting systems that can have a positive impact as a trader, namely regarding
●Psychological management, this is related to mentality and emotions when trading.
●Then regarding Money management, this is also very influential regarding the pattern, comfort and control of trading assets.
●Trading strategy, this includes the trading method we use, whether we are going all in on one asset, or we are spreading funds across several crypto assets as our portfolio, as well as how to purchase assets by going all in directly or with DCA.

Maybe this is not very important, but there will be many upgrades that occur after we have been running as traders for some time. I am sure that every day there will be some changes in traders because of some new additional knowledge to support their activities.