How do I succeed as a trader in 2024 - page 9.

GreatArkansas

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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.

If you already started, I can say continue, and for those people who still have not started to trade, start it now.
On the other hand, continue to learn even if you already made some profits, learning in trading, especially in the tech world will not stop. And risk management is a must, even how much your portfolio or trading account balance, risk management is a must!

I_Anime

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To succeed in trading is to first learn how to control or manage your risks, in trading what most people don't know is that trading not just about the number of profit you made is the number of risk and losses you've reduced. For instance you might make alot of profit just in one day but just a slight mistake might lead to you losing all those profits ones. So focus on minimizing your losses and gathering little profits as time goes on you will see the progress in your trading.

bocyaj

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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.

Now the market was steady at the 42k mark,So the traders should not panic by seeing the bear market.The fluctuations was the fundamental in the crypto economy,So the market must be very cautious.The trader should learn the trading with some basic skills in the trading,the trader who doesn’t understand the trading can quit the trading at the beginning.Because after they committed to the trading as the full time job, they should learn to do trading in the long run.

Because the trading with the longer duration will give more money to the trading people in the crypto currency market.The reason was such traders will keep analysing the market and the price variation in the particular coin for the longer period using the trading chart of that coin.

Baki202

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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.

A trader leads a different life than most people because they have to be in complete control of their actions, including spending money and time. They also have to sacrifice a lot of time studying to understand what they are doing, as well as money, but only because they want to invest. Finally, they must understand technical analysis, which takes time but can be very beneficial if done consistently. Some people may even be afraid to sell their assets because of news that could turn bearish, but traders who have common sense will refuse to sell under all circumstances, and I have a strong conviction that 2024 will be a prosperous year.

poodle63

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succeeding in trading requires many factors and one of them is luck, the thing with trading is that, its difficult than you are imagining some people consider trading to be easy because they haven't traded enough.
once they have traded enough they know that trading is kinda difficult. even more so the fact that trading requires emotional stability even at the worst scenario when the price might be dumping.
I think if you truly pursue success you should be just investing and holding, just wait the market dumps then you can invest, though it might be long term investment but overall its easier than trading.
but if you really want to be successful from trading maybe because it only requires short term, then I guess be sure to follow the old trading rule of buying the rumour sell at the news.
that way you can profit, also at bullrun, many coins tend to increase in price, i think its also a good thing to know that trading might be easier this time arounds.

batang_bitcoin

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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.

It is not as easy as asking this question. It should start from you to become a dedicated trader and it all takes a lot of experience and effort before you can say that you are a profitable and successful trader. I'd say that just try to learn the process of trading and you'll have failures here and there and with those, you'll get to see how you can become a successful one from learning with all of those mistakes.

Yamifoud

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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.

What you gonna do OP as a beginner is to gain knowledge first, you can try demo accounts as a practice as you can use this in actual trade. Focus on gaining experience, not on earning a profit. You will surely suffer losses in trading due to some mistakes but never be afraid of it instead consider this as a tool for you to improve. You can watch tutorials online and get some ideas there. But have to say that don't get too stressed and overtrade because this is not a healthy practice and this is one reason why you fail. Enjoy what you are doing, this is very important and if you find out that was not effective, stop for a while and think about the reason why before doing it again.

Lanatsa

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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.

When it comes to trading or simply zero knowledge then this would be a good start up site or platform;
•Babypips.com

This isnt really just that good for forex since this is highly that based or focusing about technical aspects and terms but this would really be the best step that you could
really be able to follow at least and trying out to finish those free courses until you would really be having that a good grasps on everything. It wont really be easy and it wont be short.
This is why patience and perseverance is really that much needed. You wont succeed on learning everything if you would be making yourself that in a rush.

Theer are people who are really taking the pace slowly but surely comparing into those who are in rush on learning but ended up on tons of mistakes.
Dont rush yourself on being successful because trading skill isnt something that you could acquire on very short time. It would be needing those tons of
trials and errors along the way before you could be having that good grasps into it. Learning would really be a never ending thing.

Yamane_Keto

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Trading is not a suitable option in the year in which halving occurs, as the price of Bitcoin is forced to rise insanely, and then the prices of altcoins take a slightly downward curve. Do Dollar Cost Averaging until next June and then consider trading.

kentrolla

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Quote from: Oshosondy on December 28, 2023, 09:11:44 AM

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.

If you haven't got months or years of experience in trading, do not trade in 2024 is my advice. Or you should use the amount of money that you can be able to lose on trading. 2024 is a bull run time, I will advise you to hold as much as possible coins like bitcoin. Holders will make much profit in 2024.

I am sure they would and it would be difficult for new traders to get into trading during 2024 as expected bull run will either make their strategies look bad or vice versa because we will see increase if value of most of the coins. Hodling and waiting would be better option than trading during this period only if you are a new trader but for existing ones it would be business as usual.

bitzizzix

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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.

2024 is only a few days away, have you learned everything related to trading and also how to analyze cryptocurrencies. Trading is not an easy job and really requires sufficient experience and knowledge because these two things are very important for you to have before doing it.
Because you are a beginner, you should start trading with small capital while learning and looking for the best information to help your trading. And my advice, prioritize owning Bitcoin and buy it as soon as possible before the price goes up, and do it gradually according to your ability and do it for the long term to get good profits.

wtsimis

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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.

Nrcewker

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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.

Advices won’t give you profit in trading. Moreover, it’s seen that newbies don’t make profit so easily at their initial days of trading. Trading requires discipline and patience. If you have these then definitely, you can make the profits quickly from trading. Before actually trading, it’s important to gain knowledge. Do theoretical analysis before and understand the market, then put real money. If you do the preparation well, then definitely you can make good profits while trading.

EarnOnVictor

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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.

Trading is good and has helped some people, and it never started today, but it is not without challenges too, especially the risks involved. Random forum information about trading can't be the best way to go about it too, you have a lot to read and I believe that Google will be the best place for you in this regard. You can search it with keywords related to EasyForex and Investopedia and I am sure that a lot of knowledge imparting articles about trading will pop up. You can do other searches aside from that and you will be just fine. A search on trading "e-books" as a keyword can help you too, you might be lucky with great authors using this approach.

But know that trading is not a child's play, it is not as easy as many think, it is when they get there that they know the truth. Also, maybe you have heard about the coming opportunities in Bitcoin and cryptocurrencies, well, it is not about trading alone but investments as well which is easier. You can buy Bitcoin and other altcoins to earn easier than trading itself and continue to manage your portfolio wisely.

goaldigger

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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.

1. Learn everything about trading.
2. Prepare yourself, emotionally, financially and physically.
3. Stop aiming for an easy profit because profit in trading will always take time.
4. Create a good strategy that will work based on your own timeline.
5. Don't rush things, do this slowly but surely.

It's good that you are actually considering this and starting to have a better plan for next year, just enjoy the process and stay committed.

shushu9977

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Trading is a good idea. If you have a good knowledge and analysis it properly, then it will help to earn more money from trading. You invest in good coins like top coins or growth coins which give you huge profit.

Zanab247

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If you know how to trade crypto in the market, just ensure you save some money in this 2023 against 2024 , if truly you want to have a good plan that will make you success in the future. If you want to invest the money, don't use money that you can't hodl for long to buy crypto because, it will not help you to improve financially in the community but if you want to improve financially next year ensure you apply long hodling in your coins and wait for the price to rise higher before you can sell.

Don't forget that the price of coins will soon go higher in the market and, you can still buy in this bear run to be part of those traders that will make some different from their trading next year because everyone plan against next year is to improve higher next year.

yhiaali3

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The year 2024 is expected to be the year of the Bull Run, especially after the Halfling, so if you do not have sufficient experience, it is better for you to avoid entering the year 2024.

The best advice is to accumulate Bitcoin starting from now until the halving, there is still plenty of time and a good opportunity before Bitcoin rises to a new high.

I also advise you to listen carefully to what @Oshosondy says because he has good experience in trading, and taking his words into account will be very beneficial to you and may save you from a huge loss that you may suffer.

Barikui1

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My only advice to you as a total novice, just buy and hold, there will be bull run next year and it is the year for holders, start DCA into Bitcoin now, so you wouldn't miss out.
But in other to be successful in the crypto space, go for knowledge first, so that you will be sophisticated enough to know how to navigate your way In the crypto industry .

leonair

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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.

Every year is same for every traders When it comes to trading, you first need to learn technical analysis and a good understanding of crypto. On the other hand, you need to have self-control to prevent yourself from panicking and making wrong decisions. Panic is one of the most common reasons for losses in trading and gambling. So if you are an expert in trading then every year will be almost equal for you. But if you can't become an expert then you will lose every year. 2024 is not any matter

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