Topic: How do I succeed as a trader in 2024 - page 7. (Read 1340 times)

It's only the beginning of 2024, we still have plenty of time to take plans and take action. Don't be too hasty, a mature mind will make your decisions wiser, usually it will be more optimal in generating profits and will also be more accepting when it comes to losses. If I observe that people prefer the topic of halving 2024, I think this is a strong reason why the positive trend will be long this year. As we know, positive trends are always fun for traders, usually technical accuracy is better than negative trends.

Not a wrong choice but if you think this would give you financial freedom, then that kinda be a big struggle for you. I'm not going to disrupt your goal/plan but must have thought it through several times if possible because many traders haven't gone through to the finish line (success), and many had quit along the way. Why? Lack of knowledge and preparation as we can't underestimate the market volatility and if you think that trading is easy, then you are wrong. But as I've said, I don't stop you OP and I hope you'll succeed but in the case of failure, don't blame the market for that.

If you have not gained enough knowledge about trading and do not have the relevant experience, then the best solution for you in 2024 will be to refrain from trading. If you ignore such recommendations, then your acquaintance with the crypto currency market will end with the loss of your deposit.

Trading can make you to achieve financial success but it can also be the cause of your downfall in 2024. Trading is easy when you learn things from the right sources, practice them with a demo account to understand them before practicing them on live accounts. To enjoy trading, consider choosing the right exchange that you'll be using and make sure it's a reputable exchange so they don't scam you. Also before starting to trade, make learning how to read and interpret charts to be your focus.

Focus on one strategy and develop your strength on that strategy so when you use it in trading, you'll always make profits. To succeed in trading, you have to be smart and be willing to learn. Don't stop learning or you'll be left with old information that won't be useful in the future markets. Always take profits when trading as any profits that you haven't taken isn't a profit yet, they're just imaginary profits.

Honestly we have just flipped the calendar but all the projects, coins, tokenomics, ups and downs remains the same. That affects nothing in terms of how we were doing last year and this year.

However, there is amazing and fruitful ways you can apply to your investment portfolio so that it can boost the way profits were generated till now. For example, we all know DCA is one strategy that takes lot of time to build your portfolio so you can start that from this month and keep target of year end to see how you performed. In addition to this many projects will start the fresh batches of staking with new offerings, grab those. Only invest when you understand what staking is and whats the status of that particular project in market. Its no hard science if you start at right time (like now) and hold for long durations.

just follow the trend thats where majority of the capital is and that means big flow of investment and when the big flow of investment starting to come in, be assured that your money gonna be doubling, thats the thing with metaverse trend, defi trend and L2 trend and so on, such trend are really good to get into when you are still early and you can trade based on the price fluctuation since its flcutuates a lot as well as investing.
i've found myself make some good profit out of this i can say with confidence that i still have my part of investment in the l2 that i've got when the l2 trend was a thing and till this date the value is only increasing.
but as a trader generally speaking you should be smart enough to find news about the coin you trying to trade and also know to determine when the correction gonna be bottoms out, i personally don't favor trading because at times it seems like just random entry and there's big chance that i'd just miss the opportunity of getting that massive long term gain.

There's no real formula for success in the trading industry, so we can't really give you a guided step-by-step procedure of things you need to do to succeed or whatever, but what we can provide though is tidbits of information as well as things you should avoid doing so you could at least make your trading journey safer and more enjoyable.

First off, you should take trading with caution. Just cause your friend got a lot of money trading the latest cryptocurrency doesn't mean you'd jump the gun as well and take the opportunity. Learn your risks first and how much you're willing to lose in the process. Dedicate a portion of your monthly budget to consistently grow your trading portfolio cause the more money you put into work, the more money you'd get in return. When that's settled already, avoid bait cryptos and coins that offers instant returns. Don't get me wrong, there are coins that does that here, it's just that projects that are successful most often would invest more in making sure their whole ecosystem is safe for traders and investors rather than spend money marketing themselves as the next big thing.

Always conduct research before doing any form of trading, and for the love of god don't do futures if you can't afford getting your shit liquidated.

Always go through the process, and remember that there is no shortcut here.
Being a trader is not that easy but it can be rewarding, so start learning about the indicators and create a perfect combination where you can be more profitable. TA and FA works, make sure you know how to do this properly and stop panicking every time you see Fud or a hype, always focus on your strategy.

If that is your goal then you need to work hard to reach it, most of those that claim they want to become traders do so because they believe trading is a way to make a lot of money without any effort, so they begin to trade the markets without really knowing what they are doing and end up losing their capital to the whales and skilled traders, so if you are serious about this you need to study a lot of books about trading as becoming a proficient trader is indeed very difficult.

Firstly, what's your plan towards trading this year cause your plan matters a lot, you should not only take advice from forum members without working towards your goal in the trading aspect, I don't know how far you've gone in the trading space but if you really want to go a long way you should start signing up for trading classes and buy some potential coins for trading, as a beginner you've a long way to go but it all depends on your determination and time.
As some will always say go for investing but you've made your choice and don't just trade cause you want quick profit that's very wrong, when trading you should be able to endure lose and keep going.

YouTube, this forum, different articles online, maybe some paid trading courses, but some are free.
A mentor might help you. Isn't a requirement, but having a mentor will help you learn quickly.

Creating your strategy would help you, but copying others might do. Just take note that what works for others might not work for you as well. There's one thing that you can't learn online, and that is your attitude. Being patient and learning how to control yourself are just 2 of the attitudes that you need to learn if you want to become a successful trader. Being good at making decisions is also an important factor. Being a trader is very easy to do, but being an expert and gaining profits continuously is very hard IMO, and it requires a huge amount of money.

Good luck OP, and I hope you'll be like one of the expert traders out there.

The success of any activity is probably something that people generally know, of course people still think that all this requires a competitive strategy.

I personally already know what is called trading in the market, of course it is difficult for people who do not use patterns and styles or strategies that can be successful for someone only by obeying what is in the North in the market pattern, namely our own strategy that we set, as well as trading matters.

Before you start trading, you have to learn more. This is to help you analyze market conditions before you enter the market. You can also search for and determine coins that can give you profits through your analysis.

You must remember that learning to trade takes time and is not easy. You must be able to learn a lot in trading, including studying indicators, analyzing where the market is heading, and reading news releases. You will have time to make a profit by continuing to learn and practice it.

Before you enter the market, try a demo account to see how you fare after learning a few trading lessons. If you feel something is still missing, you can study it again. If you are confident in your abilities, you can enter the market but use capital that you can afford or small capital so that if you lose, the loss will not be too big.

If you want to be successful in trading, you must adopt some trading platform strategies. Some of the strategies you can use to get success from trading platform are be patient, don't be too greedy, don't trade with passion if you can follow these strategies then you can definitely get success from trading platform. If you don't follow all these strategies you can get success from trading platform so to get success you must follow all these strategies and discover some of your own strategies to trade then you will get success.

I don't know why you've to pick trading now when you know we're going into a bull rally. You're likely going to miss the bus when you sell off and can't get in back. It's going to be a regrettable moment if you aren't able to buy back. Wouldn't you rather hodl than sell? I wouldn't take that risk now with Bitcoin. The only tokens I like flipping now are launchpad tokens. The way I do it is guage the tokens of a launchpad I'm into and follow up on its IDO announcements and then take my positions, checking when the market will be saturated with excess supply to sell off and then buy at demand zone.

For now, selling Bitcoin to take profit and re-enter is a no-no for me.

Today is the second day of the new year, if you have previous experience in trading and if the previous experience did not yield the results you expected then you can expect a good start in 2024. You have done trading in last year, try to find out what mistakes you have done in trading in last year. If you find mistakes, work on them. We actually want to start everything fresh in the new year and at the beginning of the new year we wish that this year will be good for us. Only we can expect such but complete trading strategy but we can't change in new year so we have to continue trading expecting good things and if we have adopted any wrong strategy here we have to adopt right strategy. If you understand and trade at the right time, I hope that the year 2024 will bring good things for you.

​We have entered the year 2024 and those who are thinking of benefiting financially from the beginning of this year must be well aware of cryptocurrency. they know that this year there is a Bitcoin halving after which the chances of the bull season to start are high. so plans are made only by people who are well aware of what they are doing. trading is not so easy for that you need a lot of experience. currently if you have capital then in my opinion you should focus more on investment.

Trading is a tough job and it can definitely lead to losses for newbies, so try to choose good projects and invest in them before the bull season. with this you keep gaining knowledge and experience about trading, because trading can be done at any time while investing has a specific time, and it may take a long time to get such opportunities again. you will see everyone advising you to learn, but I would say don't start trading right now until you have mastered it.
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Take time to learn by gaining knowledge and experience. There's a possibility to succeed in trading if you know what you're doing and not in rush to profit. Many traders failed because of their greed and unable to wait by committing a wrong decision.

Keep in mind that trading is not easy. Thus always use the money that you can live without hence even you lose (it's inevitable sometimes) it is not hard to move on since you already prepared yourself for such situation. In addition, don't rely too much in trading, it's still best to have other source of income.

Trading alone does not guarantee financial success most especially for those who have less experiences in trading. Gain trading experiences and develop your skills first to enhance trading performance. Now, if you can invest for long term while trading, there will be more profits that will enter your wallet so most likely, financial success will be achieved soon. The more sources that will generate an income, the faster you  become financially secured.

For now, focus first on developing your knowledge and skills in trading in order for you to succeed on your trading goals and desires. While losing is inevitable when trading, but at least with your mastery in trading, you can still outnumber your losses and gain more financial profits.

Experience will matter a lot. Gain more experiences in trading even starting from a demo account so you will have the idea on the common scenarios that appear in trading. Once you think you're capable enough to trade, then start live trading at a small capital, an amount that you are comfortable of losing.

While trading can make you rich faster than long term hodling, but believe me a lot of traders end up settling into long term hodling because their skills are not sufficient enough to win their trades.