Topic: Do you think to succeed in the bull market you need to acquire more strategy? (Read 929 times)

Agreed, and using just few of those trading strategies will make you become a master of the strategy and you can make use of it when ever you want and you'll be victorious with your trades. Different strategy can be a distraction for you to not meet your full potential in the market. The strategy has to be a verified one that works for you before you make it your thing. I don't waste time to dump a strategy that isn't working for me because I'm not ready to lose money when they're other strategy that can give you the money that you're missing. Trading is different and it works differently too because two different traders can make profits from the two options we have. There are some people that have mastered the act of trading with different strategies and still record success while we have traders that have to rely on just one strategy and he's also victorious.

Too many strategy will get you confused at some point, you just need a strategy that yields a consistent results, you master it and with a decipline approach you will be profitable.

Anytime I see trader shows off there desk, chair and PC, I just sigh for some moment and look away. You will see them with different screenshots and all that of indicators just to prove one things, expert in trading but I will tell you that trading with free indicators can give you literally the profits they are making and who knows if you are making more than them, Bitcoin has been more of fundamental than even technical analysis but they will tell you all the stories of the strategies they used.

If you do too much strategy in my opinion, you will be too interested in the market. When other simple traders are taking profits at all time high range, they over predicts market like it will go to heaven but we all know that every run has its up and down, there is that time nothing will print any profit from this market again, just consolidation and losses most often unless you are a leverage market maker that play with short positions.

At the beginning of trading, a beginner may use several strategies to see which strategy is most appropriate for him to use, but over time it may not be practical and a waste of time, because just imagine just to start a trade a person needs to use several strategies and it is also uncertain whether the strategy works in that situation. And because of that, a professional trader usually uses 1 or 2 strategies in his trading, because he already knows the ins and outs of the strategy and has used it in various trading situations.

Because usually it's only on bull market that some people are intrigue to show great interest on bitcoin investment, when bitcoin was very low and he asked there was no much interest and I didn't give him that listening ear but as the bull comes up he got aroused to it and wanting some simplicity to immediate and quick profiting from the bull market. So, it you didn't see it in the body of the content then you should know that the title has it covered and repeating it inside shows a form of repetitions of messages.

Your question in the title contains "bull market" but it was absent in the body, well, if it is the bull market where it is a definitive bull run, people tend to earn easily, and even on making mistakes, they will still get to make their money because they are in the right trend if they bought it. But in the general market, enough strategies and experience are needed. You do not need to learn all the strategies in the world but in my experience, you will need to vary some strategies due to the market condition. This is where confusion befalls new traders if they are not well prepared, the market will act strangely but will not be able to know why if their strategies are inadequate in the name of keeping it simple.

Maybe not a specific strategy, but a person needs to know the market and at least have some knowledge about it to be able to make good use of the bull market because someone who doesn't know anything about the market would barely know the right time to buy. If someone is buying Bitcoin when the market is already at its peak, they will most probably see their investment losing value as soon as the market starts to crash, and they will not believe the market again.

So, someone needs to know the correct times to enter and exit the market to gain good profits, and for that, they will need to know about the market and especially the coins they are buying, such as Bitcoin. It's not wise to invest money in something you know nothing about only because you heard others are earning money from it.

This is why a person needs to learn about a financial market before they make an entry into it.

Trying out many types of strategy may make you lose more focus on how fast you can achieve your aim at trading. There are different strategies, you may as a beginner needs an introduction to each of them to see how well you can be able to do with them while trading. If you’ve seen the one that fits your niche more, you should focus more on that and go into deeper learning about it than just putting all at once in your mind to learn. It’ll become harder to achieve success through that in trading. The bull market as it has always been is a time for all to calm themselves professionals, strategy may work but it’s better you trade in the direction of the uptrend side of the market which it’ll always be during the bull market cycle.

I am sure a strategy and good knowledge level do truly matter. I'm not sure if you already heard of those newbies that they only invest in BTC but still lose in the process. It is because of their lack of knowledge, they panic sell thinking it is the end of BTC once it dropped hard, not knowing it is only natural and part of the cycle.

As for the strategy, we can't just HODL and HODL forever or even if we sell, we still need a strategy to grow our gained profits more evenly because for those who don't have it, they just wasted their profits in useless things and they have nothing left eventually. Traders should make money at all times but taking a rest is also good for our overall health.

You are right, succeeding in trading is not about having surplus strategy,  this can even get one to be more confuse , it is even to just stick with few and work with the one that is more profitable. What a trader needs more to succeed in the bull market is to have a better understanding, discipline, with these I don't think one will be having any hard time in any season of the market.  Making it in trading is not about having plenty of strategies but for one to get the real understanding.

When a trader is able to determine when to enter market and exit the market usually make them become active towards their trade, of course a good trading strategies is enough but must times there some market conditions that may requires another best technicality to handle the market. Trading as we know is actually simple but it depends on how we started it otherwise, if we have a poor starting or as poor foundation while starting our journey in trading it makes it very difficulty to succeed because we didn't have that good start-up.

When I saw this your post, at first I thought it was something related to the topic, but it's totally different from what you are actually saying in the post,  but I will respond to both because they are two different question.

Responding to the title of this thread, I think you don't actually need any strategy in making money in the bull market, all you just have to do is buy Bitcoin and hold, and you will definitely make a fortune in the bull market regardless of your level of knowledge.

Then as for what you actually said in the thread, I think that as a trader that intend being profitable, one potent trading strategy is enough, and knowing when to stay off the market is another vital thing a trader must know, if he want to be profitable.

If it's done by an influencer - then it's worth it.
If it's not - it's really not, in my opinion.

Referral programs are a separate topic, but yes, it can bring in very good money if you approach this issue thoroughly, if there are enough referrals, then such a person will receive his % from each purchase and sale, no matter whether these are unprofitable or profitable transactions. The exchange works in the same way, it will take its fees from any transaction, no matter whether it is profitable or unprofitable, this is the principle of their work. But for a teacher it is important that his students can trade with profit, otherwise there will be a lot of negative reviews about him.

I don't mean all traders but most of the traders that I know and the ones that I have listened to or head people talk about. I didn't get it from a search engine or article but was just saying based on what I have seen and heard.

I guess they make money by referral reward, not sure how the referral reward in centralized exchanges because it varies from one to another. But, I think mostly they earn from someone else lose, so the mentor will ask to sign up with their referral and make deposit, then they will teach their skill, either it's a fake skill or real skill.

In this way, they're making money without need to ask the followers to buy their course.

It is not necessary to pay an experienced trader. One should actually experience trading, and start small. You will only have good grasp if you start trading on your own. But no need to rush yourself because those lessons will take time to acquire, aside from the tips and strategies that you will learn along the way.

Basic indeed, panic stimulates the wrong step and not following the basic.

The difficulty in this basic strategy is what I explained in the next line. The timing of when to buy and when to sell is of utmost importance. This accuracy of prediction is improved by observing charts and reading past charts. When bitcoin crossed 72k I was fairly certain that the previous all time high would be crossed and I have a high probability of being correct and not wrong. Turned out I was correct but I could have been wrong.

This unpredictability of the market is what makes trading difficult and not sustainable. Still it is worth trying.

A great trader clearly has a lot of experience in their field - they have the right approach when the market doesn't match their expectations. They don't just have one strategy - of course they have several strategies which can then help them avoid losses. They trade to seek profit - unlike gamblers who seek fortune, so backup strategies on the other hand are already prepared even with a reserve budget as well.

When traders start trading with a strategy - then they clearly expect profits. Sometimes they can also lose - but because there is a reserve budget and other strategies, the losses can be covered again without taking too much time.

Obviously, you're more fortunate to have a mentor than I am. What was offered online was obviously stolen and distributed for little money. And accordingly, there was no sense in such training. Those who really knew how to make money from trading did not need my money, since for them it was just a waste of time that could be spent on trading or on family.

May be you haven't come across some good traders who enjoys teaching other interested people on the various ways to trade and how to take profit but I think I have come across some good traders during my newbie days and they tried so much to make sure that any serious newbie who comes to register with them gets good knowledge they came for.

They may not mentor you 100 percent but you are sure of getting good information from them and the knowledge they share can go a long way to help every beginner get started in the right way if you are willing to pay the price which is reading and learning.

It is probably because with Internet and open source, people nowadays can learn many things by themselves online without going to schools, colleges, universities, and any paid course. However, to say "most successful traders ..." do like you said, I disagree with you and I really don't know how did you say that. Did you get it from any research, article, any data to back your saying?

It can be true or not true. Youtubers can say everything they can to get traffics to their Youtube channels. Except are rare that some Youtubers actually care about quality of their content and pay a lot of investment in time, research, and make their videos.

Traders can lose money by bad trades that can happen as consequence of bad trading knowledge, bad trading practice and many things. It's hard to blame your failed trades to any others like Youtubers, experts, whoever is not important than yourself.

You are absolutely right mate, I just realized lately that most successful traders were not really intentionally schooled by an expert trader but rather they just keep making use of every bit of information they get online and also added their own predeveloped knowledge and idea and that's why they keep winning in their trade.

 I listend to the story one guy on YouTube who was very poor years back according to him but after blowing up his account several times, meanwhile he paid some groups of people who claimed to be professional traders but he ending not even gaining any favorable trading knowledge or strategy from those people he paid to, which lead to blowing his account multiple times.  He said he was just consistently learning on its own and also studying the market and the candle pattern, taking note of everything that can help him and boom, he started taking profit majorly from his trade. So, you are absolutely right to say that it's gonna be difficult to see a real professional trader who can make out time to lecture beginners.

It looks almost impossible to find a successful trader who is ready to take up the training of a beginner. What can you offer a successful trader? Money? That's how he earns them by trading anyway. And it is not a fact that a successful trader will be a good mentor, because mentoring requires much more knowledge than just profit in trading.

I don't think much strategy is needed for this bull run. Because even one or two is enough for a bull run if we use a strategy. It's also not possible that we don't have a strategy to use,
so it's normal to use a strategy in trading.

Then you should also have an idea of what to consider during the bull rally itself in bitcoin and even in other crypto assets in the market,
because if you don't know or can keep up with the game every bull run for sure you will also be left in the end.

Firstly, in a bull market, almost every strategy you use will give you good returns.
The reason is that prices go up for almost every coin and hence everyone can make money in a bull market.
Secondly, newbies should not try several strategies in the beginning and rather focus on just a few strategies, like 2-3 and then improvise it.
Furthermore, DCA is the best strategy for almost everyone and so newbies should get started with DCA followed by the above approach.

Learning about trading before starting your trading is good preparation but it's not enough. Not all people are able to apply what they learn, assumed it's accurate knowledge, not bad one, to their actual trading and do it well enough for profit.

There are many more factors to affect their trading results, not only knowledge.

Successful traders need not only knowledge, but also other important things like patience, discipline, good risk capital management and so on. If they lack any of these traits and skills, they will fail in trading.

Paying money is a different case but having that mindset to be productive is where trader may likely face difficulty, because i have seen people who were so dedicated to trading going all matter of classes just for them to know how to trade but yet still didn't make it out to be successful in trading. In essence, trading is all about mindsets and how they have positioned themselves to make profit or how prepared to could be in possibly gone live because most people whom see today wanting to trade are people who can't endure seeing their balance melting down to zeros. Yes, I know that trading is easy but some people when they started trading with Demo and you see them you would think that they can beat the market without knowing that it's just rebot they are playing with and live market doesn't behave so.

Those signal groups are being operated by individuals who focus on reading charts of coins and identifying which ones are best to invest in at a given time based on the data they have at hand.
 
Sometimes they appear to be wrong while sometimes they also get it right, but the main thing is they don't just buy some random coins and stock on their wallet or trading account because not all altcoins are good for buying, even for a short time, as they can turn someone's investment into zero within a period of time if you enter time in the wrong time.

On a very simple note, I think trading is not as difficult as most people think and the strategies are so many to use but the ability of the trader to recognize and make use of the right trading strategies when going into any trading is the most difficult thing in trading. Having a good mindset and a profit oriented attitude when going into trading is not a bad thing because trading with fear and the anxiety of thinking that you can't get profit will make the trader to encounter losses because he's going to use fear to do the wrong things instead of doing things right.

To escape losses in trading the trader should pay money to learn from an experienced profitable trader gaining knowledge from a good trader will also see the learner to have good experience in taking profits more than losses.

Some persons just invest in cryptocurrency neither bitcoin or any altcoins, and but they make profit during the process of investing on such crypto, so what I need most is that, cryptocurrency investment some persons do have the luck to invest and make profit by meeting bullrun, so their is no special strategy someone can apply except that you're in a signal groups, because in signal groups they are the one that give you coins that can increase in price or unknow coin that can have future, so if you follow the description of signal group, it can be your own strategy to know good coins to invest and during bullrun you can make a profit.

Realistically trading isn't that easy be it having lot strategies or few, the main points is to always know what they are doing because with the mindset that they had already established when they think immediately they joined trading profits follows immediately. Things do no longer work that way because it requires lots of time and patient to excell while trading Even though they have lot of strategy already, though some may have just only one or two but still make out good rewards from it and it's mostly from a professional trader and not newbie.

Different opinions. Here is mine, to make money from Bitcoin trading, you have to master how to win emotion, your analysis should come before your emotions. If you can be able to beat that, then you have master the master art of trading, the rest is how to deal with the market manipulation. For instance, the market is super bullish after the Trump announcement of winning the election, like you can see everyone calling 100k quickly but don't get carried away, the market can do the least you expect.

It's possible for the market to continue on this trend and you might also see a sharp sell later, don't trust other people's judgement but yours alone and you can also be wrong too, the market trend is your friend until the trend completely becomes exhausted.

The truth is, many traders believe that having a lot of strategies means having multiple ways to adapt to the market’s conditions. But the harsh reality is that, even with hundreds of strategies, we can’t perfect them because of the market’s constant changes. Indeed, trading is stressful, and we feel even more pressure when we want instant results. This is why many of us end up quitting; we’re overwhelmed, unsure of what to do, and don’t know which strategy to use. That’s why, in order to succeed as traders, we shouldn’t rush and should focus on just one or two strategies to avoid unnecessary pressure.

By knowing that there are many trading strategies and you might fail with many trading strategies too. Failures in trading can come from your trading strategies, or your lack of psychology control to be disciplined enough with a good strategy, or combination of them.

A trading strategy can be good, brings profit to a disciplined trader but can be a failed strategy with you, but it's because of you as a person who can not use it properly and disciplined.

By knowing this, a trader will no longer be naive that he will get profit with strategy A, B, C and use all capital for trading in testing journey. Always know that loss can come and never use all capital for trading.

You are right about that but do you know that " one good head is better than 5 useless heads"? Yes! We can apply several strategies and ends up not winning or even making profits.
There are lots of people who has applied several and different types of strategies yet doesn't results being fruitful at last. Listen I am disputing the fact you aren't right and all things you said is correct, but trading most times doesn't easy give profits by having all the strategies.

Crypto trading is not same thing as the forex market which have different sessions and based on my observation, crypto doesn't obay those sessions. Just develop some good trading strategy and while scalping, go for a coin that is has a trending candle and not market that is going sideways and when you know how to combine your strategy and also trading a solid coin, you will definitely make profit.

This is the basic law for any trader - buy low, sell high, but easier said than done, isn't it? I also agree that the only way that will be suitable for a beginner is spot trading, since in futures he will most likely lose everything and this will happen very quickly. And when to sell and when to buy is the strategy, because this choice is fundamental in trading and without it you will not be able to make a profit, and how many such strategies can be applied is the trader's business, he can apply several, but in the end I think that everything will come down to the fact that he will impoverish them for himself in one.

As a beginner, the only strategy that exists is buy low and sell high. Literally nothing else is needed.
But the person also needs to gauge when to buy and when to sell. That needs practice and observation, it cannot be solved by "strategy"

This is of course speaking in terms of spot trading - the only mode of trading that I recommend because the rest of them a plain gambling and highly risky.

For those who have a background in speculative trading this is a piece of cake to run. But the timings correct is the thing of difficulty.

First, a trader can start with 2-3 strats, and after trying them out, he can choose only the ones that bring profit to him. Or stick with a mix of them, it's the beauty of it - you are a painter on the market, and you can use any colors you want. In any combination 

The theory is one thing, and the market itself - is different.
Only by going in the real trading sessions and adapting to the conditions presented, a trader can succeed, in my opinion.

Strategy is not very important for trading. If you are consistent or experienced with one technique you may not need different techniques. The most important trade knowledge and practical experience for trading. A beginner does not need a strategy at all, rather he needs to learn any strategy that works and be consistent. When he becomes experienced in trading or becomes a skilled trader he can learn different strategies or trade with different strategies. Different strategies can be profitable for a skilled trader.

Different strategies for a researcher will not only confuse him but also waste his time, effort and money. Two or three strategies make an experienced trader a smart trader but multiple strategies can be counterproductive for a beginner.

At least hodlers of big coins know what to do and what - not - to do.
Everything else has higher potential, but higher risks too.
And you chose any path, really - you should stick and make up a plan for yourself, with goals in mind to take them eventually, not to drain yourself out from the possibilities at hand.

Each trading session is different and each time you come onto the market with a different mood, goals, and overall situation - sometimes it's a bad one, sometimes - you excel at scalping the bits of the market out.
However, truly, it's a very hard line of doing things due to how invested and acknowledged a person should be in order to succeed.

Succeeding does not require you to know everything but just to be good at one thing then after you can do other things that you always wanted to do. We can succeed with just one strategy but we have to be very good at it so we do not fail or we miss out of making profits this bull market and when we do that, we then have to wait for another bull market which does not come around until another 4 years after Bitcoin halving is completed. The next bull market is going to start from 2028, for hodlers, the strategy is simple and that is to continue hodling until your target has been meant. Hodling is the easiest because for trading, there is a risk of losing when you start trading and the strategy that you are using has to be the right now which you would not know until the trades is completed.

A plan to close trade after losing 10%? And probably open another position and collect 5% profit. Then open another position and stopped lose after losing some percentage too? You call that a plan? There are scalpers that are making profit, yea, they know how to handle the strategy but some can not, they keep running short and long until they get to -50% of their asset or more.  I know it's not all and am not referring to all.

One of the common questions of the newbies in crypto is how they can earn a lot of big money instantly by investing in crypto and even in trading we know how social media so powerful with their advertisements, and promotional statements come from known people but in reality, after they joined is this is not that easily you need to give a lot of effort, engagement, knowledge, and skills. Good for the newbie today because they now have a different platform supporting paper trading which they can now try their new strategy, analyze the market, and make real-time trading with the demo account so they don't need to get bothered even if they lose their trade. Still, of course, its hit differently once you already experienced it in real live trading because you now risk your money and emotions, and your analysis will contradict if the market is against your set-up.

Totally.
There is no golden road paved for you, you slowly create it yourself, and it won't be a narrow path to profit.
First, you go for the theory and knowledge, and then you apply it, and evolve + adapt upon it.

DCA is definitely done in more than some hours.. I would say it's months and years before it truly works, with good coins, that is 

It's easier to go with one and a reliable one, or if you don't have such a strat - work on it.
And be sure of yourself in doing so.

That is what some newbies don't comprehend, they believe it will just make them wealthy soon. They don't realize that high risk is more than just investing in bitcoin. I will never advise my friends or family to start trading because they lack knowledge about it. Instead, I will encourage them to start with investments so that, once they have learned enough and understand the risk, I will introduce them to trading so that they can begin learning and researching it. since I don't see anything that is more risk than trading since you will never achieve anything if you don't have information about it because you will just waste your time and effort on something that you don't understand. Investment you can just guide someone on how to invest and told him the coin to invest, and tell him the roll that he will follow and will surely understand in just one to two days if is serious to learn.

But when it comes to trading, you can't just study it in one or two weeks; you need to spend two to three months on it before you can pick many things and then obtain new tactics from your mentor who is helping you for a month. You are correct that before someone can make a large profit on a bull run, he must invest while the price is low so that when the bull run arrives, he can make a large profit. However, but is still a good idea to buy anytime since you never know where the price will go because it is unpredictable.

For you to succeed in the bull market, even if we only use one strategy, we can succeed as holders or traders in this bull run that we are facing. In fact, when you use a lot of strategies,
it will be complicated for us as holders and traders in this field.

I've tried this; in fact, the more I think of a strategy, the more the assets I hold in any exchange are in jeopardy, to be honest. So if it's just one or two without hassle,
won't you be stressed in the end?

Being scalper kind of trader is the hardest type on which dealing up with volatility in shortest time possible isn't something that you can do or most traders couldn't be able to do and that's why some of them would be adjusting on being a swing or long term holder, actually it would be basing up on someone's risks management because there are those traders who do have that courage or able to bare up with market volatility and that's why they could be able to handle themselves. For me as a trader then I'm a type of swing trades on such it would be playing around 3-4 days in between trades. It do also depends on certain factors when making up some trading position or entries or exits on which there will be those news and fundamentals that could affect the movement. Profitability will be basing up on someone's experience and skills and emotion control.Profit taking will really be that important because we do know that in every cycle there's bearish and bullish on which you should really be mindful on taking profits rather than on waiting for another cycle to sell profits.You could utilize these profits for you to be able to buy or accumulate when bear market hits

No he doesn't need to have several strategies but only follow one strategy that's DCA and Dip buying as that strategy is one of the most working strategies out there and something like this should work for even a new trader. But, DCA and Dip buying should be done on a time frame of at least 1 hour to 4 hour because in small time frames newbies often end up losing more money than making anything.

More does not necessarily mean better, newbies in special due to their lack of experience are more likely to get confused when the market does not move as they expect, so having several strategies they can use is not really the best option for them, since when the time comes they will not know which to implement and they may actually use the wrong one, because of this having a single strategy they have mastered and that they can execute perfectly seems like a better idea for someone like your neighbor.

I agree partially with you on scalpers actually not having the mindset to remain in a trade when it is going against them and they close off trades early but I tell you that it is some scalpers that actually lose control some of them seriously close off their trades not because they don’t have the emotion to actually hold the trade but it is their trading plan or should I say strategy to not hold it. Scalpers are actually those who love to use the short time frame like a minute or 5 minutes as such any trade decisions taken on this time frames to me is for the short period and as such some scalpers have it that if it doesn’t goes to their plans for some few minutes then it’s not reoccurring again and might even hit their stop loss before coming back.

If you notice the scalpers usually have the shortest stop loss as it is close to their entry reason been that if it doesnt obeys it at first then they don’t see it  doing it in a short period of time and this isn’t an emotional reaction to me but their trading plan which is good they stick to it

That's a fact that he needs more money and not strategy. Although he start small but for better and greater results and profits, that's the reality that he'll eventually realize and that will sink into his mind even if you only tell him the basics. That's the logic in there and reality.

When is comes to trading, I think scalpers are people who mostly becomes a victim of their emotions in trading because they jump in and out of a trade in a matter of minutes or hour. Sometimes because they can't hold up to a trade for a long time, immediately the price start going against their direction, they quickly close and wait to take another position, meanwhile they have already lose some couple of bucks in their closed trade. I am a scalper and also a day trader, If am scalping and  I see market being unfavorable to my position, I don't rush to close the trade, I can hold that position for 1 or two weeks till it closes.  But some persons easily lose control of their emotions and end up in losses.  Despite all that, I know I still have some few things am battling with in trading and it concerns emotional decisions too.

Too many traders are trading without knowing how to trade, I would say nearly half of them are just trading based on gut feelings and that is why the top are making a killing from trading. Surely you could make millions of dollars in trading, because there are that many people wasting that much money without knowing anything about it.

Obviously there will be plenty of good ones too, and there will be a lot of people who are either breaking even or close basically losing or winning very little. Those break even ones are fine, they are not that big of a deal, but those big earners are taking all the money from those people who trade without knowing what they are doing, that's the most important part of trading, learning and they do not do that.

And only practice would make you better.
Battlefield, which is the market - is the best teacher.

With BTC - it's never a bad time to get more.
Because in the end, BTC will still get up in value due to what it stands for.
 

Yes, it is. But to use many more indicators, a new trader needs to learn more details. That will needs time before they can analyze deeper. But if they buy Bitcoin, they just look at the price position and if Bitcoin price is at a low price than few days ago, that will be a good time to buy. But if the price still go down after he buy, he doesn't have to panic but be patient for a while or he can buy more amount of satoshi. That is what I did when trade when I was beginner and don't know much about the strategies or how to use indicators and else.

Just think of you are going to war and you are a soldier, how to be a good soldier? Proper training,  good weapons, and plans.

So in trading,  having more strategy is an advantage because trading is like a war, if you are unprepared you will just lose your money. Having proper plans, and strategy is really indeed an advantage and will make you succeed.

In a bull market, if you can hold for a while, you will get profit with a condition that you don't choose newborn altcoins which potentially can be scam. Another condition is buy and hold your position in spot, not in margin or futures because with spot, market corrections won't get any money from you, won't liquidate your position.

One of most important things for traders is risk of storing their fund on centralized exchanges. One of best tools or weapons for traders is Stop loss order, or Stop limit order.

Awesome cryptocurrency trading.
Learn cryptocurrency trading.
One of best weapons in trading. Traders need to understand and manage to use Stop limit order too.

The answer is indeed "no," because a trader does not need to be conversant with many strategies or learn a new strategy to benefit from a bullish market.

If you want to benefit from a bull market and you already do not know how to trade the market at this time, your best bet is to try to improve your knowledge and understanding of the existing strategy you have, not learn new strategies that may take fresh time for you to gain understanding on.

Knowledge of many strategies will not make you a better trader, a good trader masters the few strategies that they have.

This is personally what i describe as psychology strategy, it is something that actually helps to make a trader a profitable trader or a loser aside using strategy. There are many strategies use when trading and each every one of this strategy certainly works the only thing that makes it better is how you stick to that strategy. Situations like having trade when it is against your trading strategy even if the trade seems like to work out, using a good reward to ratio and sticking to it not allowing the trade greed to creep in. Not over trading, or stuffs like that. Many people relate this as part of risk management but it’s a whole chunk of your psychology which you emotions, once you get control over this the strategy becomes more effective to the trader

It is true that trading is full of risks... However, if one wants to become a trader then one must have experience then trading no matter the initial loss due to loss is part of the process... the real thing is that we first make mistakes first then improve and do the strategy that has been understood.

Buy low... Selling high is like easy to say but difficult to do for beginners ... why so there will be many consequences where beginners think bitcoin will not go up again.

And now it's hard to buy bitcoin at the lowest price, this is more fitting when someone is making a long-term investment.

What we needs to let a newbee know about trading is that trading is highly risky and most people lose their capital through trading and by enlightened them how risk trading is we have help prepared the mind. Bullish or bull run may not rewards you except you buy during the deep! For you to make money in trading during bull run you must buy bitcoin at a good lower price and sell at the higher prices.  However,  please have risk in mind so you trade with money you can lose.

The market has always been the hunter for the traders while the traders always the prey because of lack of experience, poor financial Management and inadequate strategies to explore to become successful while trading.
There are lot of people who find their way into trading that are heavily losing their capital due to lack of trade.

Yea, I know that emotions concerns other aspect too but if we are specific about it in trading, it is very very paramount for trading success. Sometimes, it's not a bad strategy that caused someone to experience lose in their trade but what caused it was because they couldn't control their emotions. Take me for example, in the past, I usually set a stop lose on my trade or I do it manually when the market is going against my prediction and when I stop lose, I must have  lose some couple of dollars but now, I don't do that again. Before I stop lose on my trade, I make sure to re-analize the market again to see if it will go below my liquidation price, if it will not, I will hold the position till my profit range is met.

First, a person needs to be at peace with himself, and then to find harmony with the market.
Otherwise, the market would be the hunter, and the trader - the prey.

Hey Dr. Strange, emotion is a barrier to trading and it's a thing to fight against if someone must be successful in trading. I think it's also quite important to list it to people while trading because there are people who can't work on their feelings and of course whatever that involves money are very difficult to fight on because they would think their money can easily be disappear so they must protect their funds with all means.

Keeping emotions at bay helps to utilize the strats and decisions better.
Not only in trading but in many other spheres too.
Only by keeping a grasp of himself a person can successfully open and close positions, even though they would have all the markers to do so or otherwise.

Emotion might not necessarily be a strategy in trading but when as a trader you don't know how to manage and handle your emotions while trading, you might not become a successful trader. It's possible that you could have all the good strategies of sporting a good entry and extit point but if other traders knows how to handle their emotions more than you and also have good strategies as you, they are going to be more successful traders than you. What I just want you to understand and also explain to your friend is that, emotions plays a very vital role in trading. I didn't see you mention it to your friend in the answer you gave to him.

Emotion is never a strategy but a thing that makes us fear and limits us from achieving what we want to, but when someone do away emotions and focused on trade it will be that easy for that person to succeed. And of a true it's important to also develop yourself to some special strategy out of your 10 strategies but then if you don't trade smart then there is every possibility that you would keep losing while you keep changing your strategies without having to understand a particular one correctly.

..Or trade only what you are willing to spend.
That's a way out of it too, in my opinion. Risk-management.

You don't understand what he said above. A new person who wants to start trading doesn't need to learn any strategy first because he will not understand without learning the basics of trading and other aspect of trading that is needed to be successful. It is when you are practicing that you will be able to learn your own strategy that will work for you, because my trading strategy might not work for you.

Newbies needs a grounded knowledge on trading which needs patient and time before they can find a way to come up with their own strategy with the knowledge that they have acquired. Trading is not a get rich quick scheme and is entangled with losses.

Well, in trading, I have come to understand that one or two strategies doesn't work all the time, so you need to learn what so ever strategy that can make you win the trade so that on the stage of your trading, you might have to combine all the strategies you know in order for you to determine accurately when to enter and exit your trade.

As I am, I have more than 10 strategies to sport a good position to either go long or short but believe me, despite all of it, I don't still get it right all the time. Since last week, I have been on a short position with BTC/USDT and I took the position at $68, 800 when it broke a support level of $69k, I was in that position when price began to spike up till $73k which game me a huge lose but I didn't panic and yesterday I made about $100+ when price dropped to $67, 800.

So what am saying in essence is that, every strategy is important in trading, especially dealing with your emotions.

You know when you give instructions to beginners they would feel like they are equals to the task but if they enters live trade they will began to experience lose by then they will come ask about what you have really said on the past, more important when they tried their best and results seems not to be coming. Of course trading need little practice but with just some few dollars as experiment to increased their knowledge but not an access that guaranteed them successful trading, so in totality holding is the best for beginners while they builds up themselves gradually.

Usually, it still goes to "buy low sell high", however, you just have many more indicators for a chart to go that way, rather than just looking at it and saying - "well, another great day to buy X-coin" (mostly - BTC) 

It's a great start, and you can trade and hold at the same time nobody would stop you from doing so.
Though, I agree on the part that trading is much riskier in the perspective, especially on the start of one's journey.

A new trader don't need to use many strategies to prevents from the lose. He only needs to know when to buy low and sell high, that's it. When he gets more experience, he can learn more about trading such as learning about analysis, how to use indicator, how to analyze the chart and else.

He can try more strategies when he have more experiences so his chance to get more profit will be bigger. He needs to learn more about trading so he can improves his skills and know when he can trade. But as a beginner in trading, he needs to have controls over himself because the market fluctuate and that can makes him panic.

Because he is a beginner in this market, I would advise him against trading, stay away from trading as most as possible.

Rather than trying to join trading in this volatile market, in a bullish market it's safer for that beginner to hold bitcoin and wait for good price to take profit. Trading is always easy on paper, when we're talking about it but practically it's really hard.

Beginners are most vulnerable to market volatility, fuds, and they're are not experienced enough for trading. Holding is their better choice, safer, profitable and no stress.

Lastly but most important.
Reminder: do not keep your money in online accounts

It is either DCA or buy BTC in a lump if it's affordable and forget about the rest.
Time will do it's magic in no time 

Acquiring different strategies is not a bad idea because these strategies will still be useful to him in the long run when a different market condition will warrant him to use a different strategy that suits the market condition. But where the problem lies is how he goes about acquiring those strategies. For a newbie, I  will advice that he starts with something simple like even a DCA method just like  @Wexnident has said, inorder to minimise his losses, while learning additional trading skills. Combining everything at once might be confusing and risky. Learning never ends.

With patience and practice, he will gain more experience and know when and how to effectively apply those strategies he has learnt because he will definitely need some of those strategies in the future.

No. Even if he was given a few strategies to choose from he probably wouldn't even know jack about it, so might as well just learn 1 and stick to it. Honestly as a beginner I'd just slam them with DCA especially if it was Bitcoin since it's generally good and less of a hassle to learn and understand. While it may be okay for them to learn by trying everything that they can (or want) out, trading involves money so it generally isn't recommended. If this neighbor of yours is filthy rich then I reckon why not let him do what he wants? He can handle it if in that case anyway.

I understand if they are impatient because they're all hype with the stories that they have read about those people that have invested in the crypto market, held Bitcoin, or shown the trades that they have won. That's how they're being built up because the idea is there and as long as no one spits them fact about how hard trading is, they'll believe that it's an easy way to win in the market.

Yes, that's how it really goes. There's no shortcut way in it for which many thought that there is and so, they're all misled by their thoughts and beliefs based on their observation. It's a long way until someone becomes a profitable trader but then, holding won't hurt them much while learning it if ever they want to pursue it.

just follow the strategy that most of people has been doing, buy some book, read it, and find out which existing strategy works for ourselves.

understanding the market can follow but if you know the basic, you can start understanding the market faster, there's no point trying to gain insight by losing money when people already shared their experiences for free.
even youtube are full of trading strategy courses for free (be careful of fake gurus with fake trading strategy), truth is, the market is just following pattern rinse and repeat, there's occasional anomaly but it doesn't happen too often for it to make trading strategy irrelevant.

Trading is not just reading and comprehending on what you’ve read, but it’s more on gaining experience despite of some inevitable losses that will make you more confident to trade. So I certainly agree that in order to trade more successfully and profitably, it will really take a lot of time.

And while you’re still in the process of learning to trade, keep buying and hodling so you won’t miss the chances to gain future profits. After all, trading takes a long term learning process, you need to master how to trade in the market first before you decide to trade your hard-earned money.

Well as I know we are sharing ideas and I can't entirely disagree with you knowing that trading needs more knowledge and if you don't have the right know to invest or trade you entirely ending up losing big time, and of course trying out different strategies there is no harm to it by implement different strategies but to me it is another easier way to always end up losing big time or wasting ones account.

I won't agree to this because it differs and we don't have to adopt a strategy that we haven't tried severally to identify that it'll work for us. Being a new trader, you have to try different strategies until you find that one that's working for you and give you victory when you use it. You would have tried several strategies before you got this one to keep using hence telling him that he just needs one strategy might make him to forget about the other strategies and focus on the wrong one.

Mastering one strategy should only become a priority when you have made sure that the strategic is giving you profits. I still have backup strategy that I have for time when the market doesn't give me my targets while making use of my main strategy. Bull market needs one strategy which is hodling for investors but as traders you can have different strategies.

There are people who seems to have no patient when it comes to Bitcoin because they have that feeling mindset that immediately they join trading the next thing is boom they start receiving money from their trade without knowing that trading is a very long journey to start with and, as a trader they must have patient as a basic key to start trading without patient it would be hard to trade and even as that I don't think that there is any other shortcut or strategy that could make them win so easily in trading without them passing all the requirements that is needed to trade.

That question is okay and there's nothing wrong with that. I always encounter friends asking me about the same thing. If there are strategies that they need to learn for them to be a good trader. I'm telling them straightly that it takes time and they'll have to experience losses for sure so that they will learn how to make up their own strategies or how they are going to approach trading. But, I am also telling them that there's no need for them to copy what traders do, they can be a simple holder and investor that just keeps on accumulating until they're ready to sell what they have accumulated.

i think you did well in telling the person NO. just as you said for a newbie it will be best if he or she stick to one strategy and master it if the person tries combining different strategies all at once it may prove difficult to him or her especially considering the fact the they are new to the game, even as a professional this may be difficult to handle all at once. there are cases where these strategies may even go against each other


so in my honest opinion he should find a strategy that works best for him and stick to it. just like the saying goes a jack of all trade is a master of none  

It’s good if you’ve known several strategies in trading as you can compare which works the most for you, but using  one or two could be good enough for a smart trader. The only way to be successful in the bull run is knowing how to play the game well, make sure that you enter trading with a good understanding and you know the rules when trading. Otherwise, if you rush into trading without proper knowledge and understanding, you will not only waste your time and effort, but you will also put your money into waste just because you trade without good preparation.

Well like a question a neighbor asked me today because he knows I deal with bitcoin trading and to what relates with bitcoin. He asked that if he wants to make money from trading does he need several strategy to start up as a beginner?

Straight up answer:
I said no because like most post I do read here I have to understand that one doesn't really needs to acquire several strategies as someone who is starting up instead needs to develop himself to understand more things about that trading before trying to explore different strategy to trade with. However, I don't think it's a solution to newbies rather a kind of distractions making them to lose more at the cause of trying to adopts more techniques to succeed.

What do you think, is that question okay as you know and have your knowledge towards trading?