Entering the trading market - page 7.

tbct_mt2

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Quote from: Wexnident on September 29, 2021, 07:09:36 AM

Prepare to lose. A lot. Experience speaks best really on how you would actually trade money, after all, no single person could possibly bear the fact that they could lose all their investments in a single moment, especially since we're talking about the crypto scene here (unless you're a rich kid somewhere who throws it like it's nothing).

Trading is not easy if the target is earning net profit, not short term profit. Because short term profit is unsustainable and at the end you can end with loss.

Learning the psychological market cycle is very important but you can not learn it from infographics. You need to have experience in the market and it takes time. 2 to 3 years and the best is more than 4 years in the market.

john_nautica

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Quote from: sammark23 on September 29, 2021, 02:10:29 AM

What is the best strategy to prepare oneself before entering the trading market?

What do you mean what strategy? or you mean just preparations before entering the market, first of all you should know what you are doing you should know how to read the market and what's the current status of the market.

If you know the status or what is happening on the current market you would be able to formulate your own strategy in order to have profit on that trade. So it depends on the status of the market what kind of strategy you are going to use and it depends on you what kind of strategy you are going to do to once you enter the market.

Wexnident

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I don't request loans~

Prepare to lose. A lot. Experience speaks best really on how you would actually trade money, after all, no single person could possibly bear the fact that they could lose all their investments in a single moment, especially since we're talking about the crypto scene here (unless you're a rich kid somewhere who throws it like it's nothing). There's gonna be a roller coaster of emotions, a lot of it and you're probably gonna want to hate yourself or something for losing a trade you could've profited a lot from, but that's pretty normal, so I'd really suggest honing your mental fortitude.

tbct_mt2

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Quote from: sammark23 on September 29, 2021, 02:10:29 AM

What is the best strategy to prepare oneself before entering the trading market?

Think about yourself first.

If you feel that you don't have patience, you are not good for trading.
If you do things emotionally, you are not good for trading.
If you don't have solid income, and have to rely on trading to earn income, don't trade.
If you don't have own capital and have to borrow to trade, don't trade.
If you are not in crypto market a few years, 2 years at least, don't trade.

The best is invest your money and get experience in the market more than 2 years. When you experience the market and understand how it is manipulated, you can use 5% or 10% of your capital for trading.

palle11

sr. member

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Trading the market of cryptocurrency is a highly risky , but you can't run away from it as it is very lucrative if you do the right thing. The time for entering is not determinable for example, with bitcoin yesterday was almost same price it was today morning but has gone ahead with extra $1,000 to $43,000. You see entering time is not stable for any cryptocurrency so you can't wait for enternity, you can make your chances at any time. This is the time many have been saying bitcoin will rise or bullish and others have been entering and taking profit. It is left for the individual who is ready to take the market risk at anytime. Only trade softly with smaller risk.

ipanks

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You need to determine your best strategy. We can suggest using small money to start trading while you learn to trade for more. You can try to analyze any coins you want but do not make a buy order. Just watch the price moves to see how the price will move. If you are sure that you can buy at that price, you can place your order buy and wait until it fills. After that, you can determine what price you will sell the coins and predict how much profit you want. Do not expect to make a big profit at first but make yourself familiar with the market movements so when you know how to trade, you can try to make a big profit. Just do it step by step, and you are fine.

Maus0728

legendary

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@Ratimov has given a fair share of trading guides that anyone who started trading should read.

Step-by-Step Guide for Beginner Crypto Traders - while I know that this is a long read, the article points out all the necessary steps on how you can get your feet wet onto trading.

Also, there "best" strategy you are referring to is an umbrella term which means that there are a bunch of existing strategies that has its own pros and cons. You need to develop your own strategy based on a certain number of aspects(e.g, lifestyle, risk apetite).

The link^[1] below is also a good resources that you can use for your trading journey ahead.
[1] https://github.com/SpiralDevelopment/Awesome-Crypto-Trading

passwordnow

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Leading Crypto Sports Betting & Casino Platform

Quote from: sammark23 on September 29, 2021, 02:10:29 AM

What is the best strategy to prepare oneself before entering the trading market?

Let's all say that you already prepared for the capital and which cryptos that you're going to buy, hold and trade then I think the next important thing you need to prepare is with your mentality. The risk is too high in trading when you're a newbie, your emotion is your enemy first and second the market. Think about it how will you react on the market's volatility and how you can hold your emotion if by the time you start trading, the market isn't on your favor.

Oshosondy

legendary

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Gamble responsibly

Use very low amount of money, newbies are more likely to definitely lose their starting money. You will need not to be in rush, be doing easy and learn and have more knowledge that will be experience for you later. One year or two years is not bad for learning, do not put the money you can not afford to lose after you have learn how to trade for a year or two with experience, be very careful of shit coins, bitcoin is enough for trading but other coins like ethereum, binance coin, doge, qtum are not also bad.

airdata

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Before entering in Crypto market for trading need to proper knowledge about crypto market, also need experience about coin, chart, volume, supply, market condition, what is the good time for buying, what is the best time for selling etc.

sammark23

newbie

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Merit: 1

What is the best strategy to prepare oneself before entering the trading market?

Topic: Entering the trading market - page 7. (Read 647 times)