Topic: How do I succeed as a trader in 2024 - page 6. (Read 1340 times)

Jumping into trading to make a lot of money this 2024 is not advisable for you to do if you haven’t been learning about trading for a very long time. Trading is not something you can just wake up and decide to do without having enough knowledge about it before. We are already in 2024 but I think it will take you at least a year to be a professional in trading with consistent practice, that is not something you can do now since you’re looking to start trading in 2024 to make a lot of profit. This 2024, just invest in good projects that has good potential of making it in the bull run and stack up a lot of BTC for backup.

• You need to first consider if you can actually trade because trading is really not for everyone.
• Are you willing to accept losses as well as wins
• Are you willing to control your emotions
• Do you know anything about financial management and sticking to your budget?
• How about you consider short or long-term investment
• But, if you have so decided that you will trade this year, ensure you learn how to trade very well before you start
• You might be having some profits this year because of the bull run. Don't get carried away, the best time to learn trading is during the bear market

I would feel like that is actually a good thing, it allows you to invest long term and it makes you earn a good amount of money if you know what you are doing. Trading is good too and I am not saying do not trade, but it is clear that you are going to end up with a good profit when you are investing long term.

This is only true for people who do not like to trade of course, people like me, we do not like to trade a lot and that means we are going to end up with a good profit one way or another if we hold long term, depends on if we can hold of course, some people fail to hold as well. I believe that there are traders who make more money than long term holders as well, buy low and sell high and keep doing that, but they are not that common.

New Year new system and update strategy if we already have a strategy that we use to trade in the market.
This is a year we have to work on how to make money from trading. We might not have been making consistent profits from the market for al there while but that's shouldn't be a problem to us. Now that we are in another year, we can work on our strategy and organize it in a way that will be more profitable to us. The market is competitive and that's the nature. This should not make us to over think on how to strategy and make it as a trader.

Trading can be simple and at the same time trading can also be complicated. In this year journey if you really  want to enjoy trading and attain success in trading is for you to just try your best to learn trading very well and follow  the rules  that must make your trade a successful one, the problem people do have have with trading is that they don't have good knowledge about trading but they are expecting to have a successful trade from the little understanding they have about trading.

Preparation - that is all that we need in order to succeed. And I hope that OP is also patient enough because success doesn't come instantly.
Indeed, trading is profitable when the market price is moving or during the bull season and this year seems to be a good day to start building a trading career. Having adequate knowledge and huge capital, not too far from gaining success especially when he is focused on his goal. 
 - with the right timing and a positive mindset certainly, it all went so well. But just as I said, OP must not on a hurry to earn such recognization as it comes with time and hard work.

Twitter has a lot of trading stuffs too particularly the trending type of trading known as ICT there are plenty information and resources on how to become an ICT trader and become successful in it, there are chart patterns and analysis posted freely by experience and profitable traders, there are plenty ICT models that can be studied such that you just needed to pick two models and  study them bearing in mind that price patterns repeat itself though all these stuffs takes a lot of time to study and understand it, however once you grasp and understand the stuff you are not far from becoming a profitable trader because there are proven records of those successful traders.

We have numerous strategies to follow up, Fundamental and technical analysis are both important for a trader to acknowledged, if only you grabbed golden opportunities to shoot more significant profits, then we should follow good path. We can not continue laying down prophecies regarding our upcoming prosperous years, we just become more addictive to our goals, but without plans, it's definitely not going to be achievable because we will be struggling from one spot to another. Mature Minds already knows what to expect, they sits in tight position but relaxed without anyone observing.

  First of all, it is not easy to conduct trading in the cryptocurrency business field. So if you ask how to be successful here, it's your own instinct, and it depends on your hands, to be honest.

  Maybe what I can say is that at least you know how to choose the right cryptocurrency and understand trading on a chart or graph; that's enough, and the same goes for reading trading through technical analysis and fundamentals; for sure, it will help you be successful here in the end.

First of all you have to be strong minded.  The mind should always be strong.  Must have adequate understanding of crypto and buying and holding.  Coins should be bought when the price falls and sold when the price rises.  Understand the market situation.  If the market is bad, stay away from the market. Greed should be controlled.  Excessive greed can sink with everything. Withdraw money only if there is a small profit. You can not lose everything in the hope of more profit. There is a bull run ahead. Hopefully something good will happen. And you invest your money in such a way that you can go without money.

There is no peculiarity in the success of a trader in 2024 than in any other year, it is the same approach, and the more you can learn, train, utilise what you learned, and be managerial and disciplined, the better for you in your trading career. If you have been losing in the past, you need to look back and note what you have been doing wrongly, that thing is what you need to correct for your trading experience in 2024 to be better. Nothing is special about trading and it can be learned and known within the shortest space of time, only that it is tough to implement which is where you will have to work well with.

But first, you must be sure that you already have a good trading strategy, without it, you will get nowhere near success in 2024. Your trading strategy should be capable of 75% winning at the least, and if you have not gotten it yet, try to continue learning and looking for it. After getting it, go straight to your managerial skills, you need to learn how to manage your risk and money effectively, and I believe that the principle of the risk-to-rewards ratio should help you better in this regard.

In addition, you need plans that will coordinate all that you know to build it into a working trading system, this is very important, and your trading strategy and management must be good for you to have a good trading system and plans as well. Lastly, you have to work on your trading psychology. Let nothing cause imbalances in your trading plans, thinking and mindset towards trading, you have to be strict and disciplined with the implementation of your trading systems and plans. By doing this, you will surely become the kind of trader you want to be in 2024.

There are lot of stuff to learn if you want to go trade, look up on google there are plenty sources for you to read and watch to learn about those and please there are already lot of threads regarding this, a quick search won't hurt you and you will find plenty of information by doing that. Reading all the news, use your preferred strategies and analyzes, lot of stuff to explore about trading. Since you are new, then it will take time.

Thank you bro, what you said and the link you shared are very helpful, because I am also one of those who want to learn and gather information about the trading system. I know that this is not just a get rich quick trade and it is very risky, you need knowledge before entering it completely.

Trading is all about learning and practicing and it's clear that if you are not practicing Trading you will not understand properly about trading because it's when you learn more of trading when you learn more of your mistakes is when you will understand the basic things of trading so I don't know the actual reason of some people why they do makes mistakes in trading and whenever they enters trading and they always experience losses in trading so I don't know the reason while such thing is been taken place in some people who is a trader

Have you acquired the basic/necessary skills on how to trade effectively? Do you understand fully what it takes to be a trader? If your answer is 'no' then you need not be in a hurry to start earning. You need to equip yourself with the right knowledge and skills. Yea I mean the right knowledge and not just base on what you've heard or read from social media content creators who call themselves traders. If you do not prepare well, you might end up burning your capital and at the end you achieved nothing  for the year.

If you can get a good mentor who is trustworthy,  then you case is 50% solved. You should be able to learn a lot from him while you practice from time to time on your own.  Personal researches too will broaden your mind. Until you are convinced within yourself that you have made a significant progress in your learning,  you need not rush. YouTube traders will mostly show you the bright sides of trading, its fine but their is more to trading than what you see on social media.

The trading world is actually a lot of Ricks. In maximum case the market will try to rob you, very little chance you will get profit from it. Of course you need to combine skills and experience to make the business successful. You need to acquire skills like analytical thinking, risk management and decision making before making trading decisions. Traders often learn from both their successful and unsuccessful trades and they gradually develop the skills to understand the intricacies of the financial markets. If you have extra money then you join the trading industry, or stay away. Anyway, With Bitcoin halving this year itself there is a high probability of many coins going up in price, so I think it would be wise to focus on investing rather than trading plans.

Yes, we still have time to plan our strategies but I don't think halving or the years where halving don't place will have major impact in the trading strategy because a trader will be doing his job everyday unlike investors who tend to find the sweet spot when the market is down and going to pump up to invest. I think it's time we backtest the data with multiple technical indicators and shortlist few or have a combination of most accurate indicators to use it in 2024.

If you plan to start a business in 2024 to be successful then it is definitely possible for you if you have common sense. There are many individuals here who start businesses who have made huge profits and have been successful financially as they have been able to achieve success. If you also want to achieve financial success, you must have a long-term plan and your thinking should always be long-term. If you want to trade or donate, here you have to face a lot of losses and there is a possibility of losing your money. That's why you can invest without trading, and if you invest in Bitcoin now, if you hold it for a long time, you will definitely succeed and achieve financial success.

I personally have three strategies for making profit through trading (not long term investment).
The first is to choose a coin with good fundamentals and place a short range grid trading bot. Ideally buying on their low on oscillation.
The 2nd one is of investing on a new promising coin before being listed on CMC or any CEX. What I have found is there is a nice bounce in price when the coin gets listed on coinmarketcap.
The 3rd is to stake coins or Liquidity pair that provides more than 12% APY, mostly the established and relatively stabler coins.

I'm still open to other strategies but these three are working for me.

Trading does not require any specific years only you need to know a good analysis and have a very good knowledge of the market.  If you don't know analysis and if you don't have a good trading experience you will never be good at trading.  So how 2024 will be for you and whether you will succeed in trading will depend on your training skills.  So no one can tell you how 2024 will be your time with trading