How do I succeed as a trader in 2024

R100K-Martin-Lunger

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Quote from: wtsimis on December 28, 2023, 01:04:36 PM

A trader is successful only when he can control himself. If you have enough knowledge and technical analysis about crypto then you can definitely succeed in trading. If the market suddenly turns bearish, one cannot panic and make wrong decisions. Because you may face huge losses due to this fear of yours. Usually for a trader it is always the same. But if you are a successful trader then you can definitely hold Bitcoin for 2024.

I agree, success in trading, especially in the volatile world of cryptocurrency, hinges significantly on self-control and knowledge. Understanding technical analysis is indeed crucial for predicting market movements and making informed decisions. The ability to remain calm and rational, even when the market turns bearish, cannot be overstated. Fear and panic can lead to poor decisions and substantial losses. Successful traders distinguish themselves by their capacity to hold onto assets like Bitcoin through the ups and downs, planning for long-term gains rather than short-term fluctuations. Holding Bitcoin into 2024, with a solid strategy and a cool head, is definitely a wise decision.
If you would like to discuss this further, you can contact me via my Discord: https://discord.gg/dCvaBZWNcG

R100K-Martin-Lunger

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What's most important is that you prioritize learning, focusing on both technical and fundamental analysis to better understand market movements. Implementing sound risk management practices, such as setting stop-loss orders and investing only what you can afford to lose, will be fundamental. Also I recommend having a strategy in place. I have been diversifying and re-balancing my portfolio. Diversifying your investment portfolio can help mitigate risks. Also, stay informed about global economic trends that could impact the crypto market. You can also check out trading simulations so that you can get some valuable practice without the financial risk.

If you would like to discuss this further, you can contact me via my Discord: https://discord.gg/dCvaBZWNcG

goldkingcoiner

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Quote from: kioprince on December 28, 2023, 05:54:53 AM

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

The secret of being a good trader is to throw away your fears. FUD and FOMO must mean nothing to you. Follow your strategy and don't start making new strategies while already executing a strategy. Know the value of your investment. So if you invest in Bitcoin, for example, then you should understand why Bitcoin will keep growing in the future. If you have doubts about your investment, then those doubts will have you panic-selling on the 5 minute chart.

Also be careful where you put your money. Always do your research.

MFahad

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Quote from: AnonBitCoiner on February 29, 2024, 12:29:23 PM

This is not a time of learning but this is a time for doing something better so instead of learning about trading that is more risky do some investment and take benefit of this successful Year.

Why shouldn't one do both? It shouldn't be an issue for someone to make investments that they find safe and also learn trading meanwhile they are managing their investments. One just needs determination and dedication to be able to learn trading because it's all about general interest and understanding of the simple trading principles and one can easily learn other things such as trading practices and how one can do research and analysis.
So I don't think that a person should only do one thing out of both when they can do both simultaneously. Making investments isn't that difficult if one doesn't have enough knowledge, they can invest in cryptocurrencies such as Bitcoin which is a safe option when compared to other cryptocurrencies.

sulendra12

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Quote from: wallet4bitcoin on February 22, 2024, 12:03:35 PM

Above everything, get a mentor and go for quality knowledge. The degree of success you will record is directly proportional to what information you have access to and process.

If you want to go for the pay route and you can afford that, then it's your right to do it. But some of the traders are self-learner and mostly they know about certain stuff from youtube videos or reading some articles. I have seen some traders on youtube that opens a telegram channel to share about the analysis and stuff also they are offering a private course with some charge of course. If you are into that, then go for it.

Hamphser

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Quote from: AnonBitCoiner on February 29, 2024, 12:29:23 PM

Trading is very risky and as you are going to accept others decision without own knowledge then it will become more risky for you. I think this time is a good time to make investment and keep it longer until it gives you profit of your target.

For financial success there are lots of others ways and trading is not only the way to become wealthy and now if you are getting knowledge and then participate in trading then you will have zero experience and 2024 will be gone.

This is not a time of learning but this is a time for doing something better so instead of learning about trading that is more risky do some investment and take benefit of this successful Year.

Also, you should put up into your mind that learning it wont really be that something that have a fixed date or duration or time for you to be able to do so or something that you could be able to say such thing.
You wont really be that making yourself that to be a good trader in a short time, you would be experiencing tons of trial and errors before you could really be able to have a good grasps within the market.
We do know that each person does have that different level when it comes on learning things on which there are ones who are fast learners and there are ones who are average or low ones on which it would
really be that determining on how well you do able to handle yourself into those things.

Profitability will really be that a solid sign whether you do sustain or not. Fail or success on which it will really be that depending on a certain person
on how well he would really be hovering himself into this unpredictable space.

AnonBitCoiner

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Trading is very risky and as you are going to accept others decision without own knowledge then it will become more risky for you. I think this time is a good time to make investment and keep it longer until it gives you profit of your target.

For financial success there are lots of others ways and trading is not only the way to become wealthy and now if you are getting knowledge and then participate in trading then you will have zero experience and 2024 will be gone.

This is not a time of learning but this is a time for doing something better so instead of learning about trading that is more risky do some investment and take benefit of this successful Year.

adpinbr

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Yes, if you want to succeed in 2024 Trading, you should hold on for now, because I see no need for you to go into Trading because bull run it’s on I will advise you to hold on with your capital and stock them until the bull run is over and you may likely make profit as you stock your capital. And wait for the bull run to be over in the next few years that is 3 to 4 years or you can say 2 to 3 years.

Because you don’t have the experience on Trading and this is your best time you want to start because of how you see the markets pumping going high it entice you to go into Trading at this time, so just hold on until the bull run is over then you can go into Trading properly and before you do that make sure you take advice from traders and also make sure you have study the trade, do you want to go into.
also don’t forget to watch how other trades is and to know when to go into market.

moneystery

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Quote from: Tomcolor on February 19, 2024, 11:24:40 AM

Practice a lot and be patient to improve your trading skills and you will become a successful trader. There are many people who have been studying trading for a long time but many have not succeeded in trading yet. However this year we might get a bull market so for now you should buy some of the best coins. even if you want to start trading then start with small money then you will experience less money loss.

just practicing a lot and improving your trading skills will not make you a successful trader because being a successful trader requires not only those things, but also experience, emotional control, market understanding, experience and luck.

just see how professional traders can win a lot of trades, they not only understand what they are trading, but they also understand the market situation and their intuition has been built there. so that when they place a position in the market, they are confident and confident that their position can bring them a profit.

Mauser

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Quote from: kioprince on December 28, 2023, 05:54:53 AM

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

How is the year 2024 going for you? I hope you started early with trading and could already take advantage of the early bull run. One of the most important things for me as a trader is to stay at least partially invested in the market. It's fine to take some profits, but I would never ever sell all my positions at once. Without any skin in the game we are going to miss out on a lot of opportunities. Which is also some problem newer traders face, they trade too much and accumulate a lot of transaction cost. Some more medium to long term approach can help with that and will lead to big profits during bull markets. The Bitcoin halving is still to come and I think there a lot of upside pressure for Bitcoin to rise long term. Good luck on your trading adventures and don't become discouraged if prices are moving against you. We won't be able to make a profit every week, there will always be times of falling prices and we just need to get used to it. Long term it's really hard to be the profit investors made with crypto currencies.

Rockstarguy

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Quote from: kioprince on December 28, 2023, 05:54:53 AM

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

One of the things that makes people to fail in Trading is having the mindset of making money quick from trading, instead of them to learn to get understanding to trade ,their major concern is to make money from trading quick. The first thing to go about trading is not just about getting the money to start up trading, understanding is the main thing to go about trading. There are principles in that traders needs to follow to be successful and it is important for Traders to understand this principle and to follow this principle to become successful. in Trading when this principles are not followed it is impossible to be successful in Trading.

Trading is not just about having capital to start up trading is small about learning because when there is no knowledge about trading it is impossible to get a good result so seeking for understanding and following the rules of trading is just the main thing to be successful as a trader.

wallet4bitcoin

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Quote from: Fatunad on February 22, 2024, 12:42:57 PM

Quote from: wallet4bitcoin on February 22, 2024, 12:03:35 PM

Above everything, get a mentor and go for quality knowledge. The degree of success you will record is directly proportional to what information you have access to and process.

Also note that institutions are also in the business of trading and the trading you seek is closely tied to other traders trading too.

Know that trading is simply making money and this money doesn't fall from heaven but comes from other people trading also. You nees to know enough and out smart other people to make it

If you do see that getting a mentor would fasten up your learning and you do have the funds to spare on paying for such learning then go ahead and i could say that it isnt really that a bad idea, but if you are someone who dont have budget for that or doesnt have the funds then self learning should suffice.Myself considered to be self learning which i didnt really have passed through any mentors or having those group signals or learnings or whatsoever. Everything could really be searched online and its up to you whether you would really be making yourself that be serious on what you are dealing with.
Just dont rush yourself up on how to make money because this would really be just that making you desperate. Always be mindful about on how you would really be able to obtain the skills that you do need.

Market could really be having that tons of different variations or conditions on which it does have that specific approach for you to do so for you to be able to get grasps on such condition.
If you dont have those knowledge and awareness? then what you would gonna do?

Trading needs one to device his own personal experience into a strategy. After having traded for a.while, it'll be easier to coin out what works better for you, if this is done personally, it will attract much costs in the form of trading losses. Hence, the reason why I said get a mentor, the concept of self tutoring via social construct and videos will still expose you to some degree of losses, but a mentor will charge you a one-off and then guide you to success

Fatunad

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Quote from: wallet4bitcoin on February 22, 2024, 12:03:35 PM

Above everything, get a mentor and go for quality knowledge. The degree of success you will record is directly proportional to what information you have access to and process.

Also note that institutions are also in the business of trading and the trading you seek is closely tied to other traders trading too.

Know that trading is simply making money and this money doesn't fall from heaven but comes from other people trading also. You nees to know enough and out smart other people to make it

If you do see that getting a mentor would fasten up your learning and you do have the funds to spare on paying for such learning then go ahead and i could say that it isnt really that a bad idea, but if you are someone who dont have budget for that or doesnt have the funds then self learning should suffice.Myself considered to be self learning which i didnt really have passed through any mentors or having those group signals or learnings or whatsoever. Everything could really be searched online and its up to you whether you would really be making yourself that be serious on what you are dealing with.
Just dont rush yourself up on how to make money because this would really be just that making you desperate. Always be mindful about on how you would really be able to obtain the skills that you do need.

Market could really be having that tons of different variations or conditions on which it does have that specific approach for you to do so for you to be able to get grasps on such condition.
If you dont have those knowledge and awareness? then what you would gonna do?

wallet4bitcoin

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Above everything, get a mentor and go for quality knowledge. The degree of success you will record is directly proportional to what information you have access to and process.

Also note that institutions are also in the business of trading and the trading you seek is closely tied to other traders trading too.

Know that trading is simply making money and this money doesn't fall from heaven but comes from other people trading also. You nees to know enough and out smart other people to make it

bettercrypto

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Quote from: kioprince on December 28, 2023, 05:54:53 AM

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

How long have you been in the crypto trading industry? Second, do you have knowledge of trading as well? or are you totally new here in this field of crypto space? Because if the guidelines you are following are correct, it is certain that you will succeed in the trading that you are looking forward to in the crypto business industry.

Then you always think that the basics are your first priority. As a trader, you don't need to be an expert just to get a big profit here; it's not like that. As long as you know how to read even just basic charts or graphs in the exchange, you can be sure that in the end you will be successful.

Jatiluhung

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Quote from: kioprince on December 28, 2023, 05:54:53 AM

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

The most important thing is that you can maintain your mentality in trading so that it remains stable. Because I feel that trading turns out to be much more draining on our mentality as traders. And this is where we also need good emotional management in trading. So, besides having to master technical and fundamental analysis, it is also important for a trader to be able to master trading psychology. The actual practice is much more difficult than the theory studied.

Because when we have mastered technical analysis but we cannot control our emotions in trading, a trader can have more losses. Examples of two emotions that can harm a trader are greed and fear.

freedomgo

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Quote from: Julien_Olynpic on February 20, 2024, 07:34:28 AM

It is not entirely clear what is the main goal for the author of the topic. Make money on cryptocurrencies or make money through trading. As you know, trading is a high-risk activity associated with the possibility of losing money. I don't think it's a good idea for someone new to trading to invest a lot of capital into trading right away. It is best to first gain experience and trade small amounts. At the very beginning, by the way, scalping helps a lot. Scalping helps to intensify the experience, so to speak. In other words, you will become proficient much faster than on other time frames. If your goal is not to make money through trading, but simply to make money, then I would draw your attention to hodl or retrodrops.

While trading can be more profitable than simply investing and long term hodling, but the risk to lose is high as well. So I won’t recommend for someone new to trading to focus on trading alone, you could have just invest a small amount at first and continue doing DCA for long term hodling. When you have gained some profits, now it’s a good idea to explore the field of trading and take some risk through trading at small funds. I guess losing will not be an issue if you only trade on the amount you can afford to lose, but if you consistently lose your funds, that’s another story already. Try to learn from other traders as well before you finally trade on your own.

Negotiation

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If you mention only one year here then I can say it is highly impossible to achieve full success by 2024, Now you have to think if you have no previous experience then you will not get success in this one year you may earn some money but you will not get success as a trader. Because one can never become a successful trader within one to two years. If you have tried for a long time in the past it is different.

Sorryfor

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As for trading, I would say that making a profit from it is a fairly difficult matter. But if you follow some strategies, chances are you can earn good amount of profit from here. First of all you need to know the cryptocurrency market properly. Gain proper knowledge about trading beforehand by analyzing the cryptocurrency market well and doing your best as much as possible. Then take the advice of those who are experienced. Then you start trading with a small amount of money that you won't lose much if you lose it. After that it depends on luck. So even if your loss comes first, don't get discouraged, stay strong and stay committed to your goal. Then hopefully you can trade and profit.

Julien_Olynpic

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It is not entirely clear what is the main goal for the author of the topic. Make money on cryptocurrencies or make money through trading. As you know, trading is a high-risk activity associated with the possibility of losing money. I don't think it's a good idea for someone new to trading to invest a lot of capital into trading right away. It is best to first gain experience and trade small amounts. At the very beginning, by the way, scalping helps a lot. Scalping helps to intensify the experience, so to speak. In other words, you will become proficient much faster than on other time frames. If your goal is not to make money through trading, but simply to make money, then I would draw your attention to hodl or retrodrops.

Topic: How do I succeed as a trader in 2024 (Read 1328 times)