How to be a successful trader? - page 2.

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legendary

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I love your advice and courage,but my question is were can some one lean or acquir this skill from is it from this forum or some were ealse,

The forum is little it no good in helping one to acquire trading skills. At best we have moderate discussions about price fluctuations and the possible causes, but nothing too Technica on how to reach charts and candlesticks.

You can take a course on crypto trading and take out lots of time to practice what you have learnt.

HajiBagi

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Quote from: KiaKia on February 06, 2023, 01:29:52 PM

Trading is not for newbies, you will lose all your money fast and those dreams of yours will turn to dust right in front of you, stay away from trading, I am damn serious, focus on learning how to trade and depending on how smart your brain is, you might get used to it fast, when you are finally ready you should start using a trial account, very good for learners.

I wholeheartedly agree with your suggestion that he begin researching about bitcoin before trading. To avoid being taken advantage of or scammed as a new member of the forum, it is best to learn more about trading before you begin. It will also be beneficial to understand the type of coin you trade in order to determine which one will make you money. I'd appreciate it if you could learn more about bitcoin and ask more questions before you start trading.

Belarge

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Sincerely I don't think there's a perfect trader,there will always be a profit or a loss, but I believe since you are in this forum you should learn how to trade, ask questions where you don't understand so you can be helped,
But one thing you should know is the timming of trading, you should know when you should invest, when you should start trading and when you are to stop your trade...
This are my thoughts though

summonerrk

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I've been trading currency pairs since before the days of crypto exchanges, so I think I have some experience. I can definitely write that a successful trader does not sit at the computer 24/7 doing some things on the stock exchange. By doing so, people only calm their conscience. The result is important here. I believe that you need to trade pending orders by buying at the bottom, selling at the top. This strategy saves a lot of time. It is only necessary to periodically correct the orders.

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Quote from: Fuso.hp on February 07, 2023, 10:43:31 AM

Quote from: ThemePen on February 07, 2023, 01:49:21 AM

Quote from: Fuso.hp on February 06, 2023, 10:58:19 AM

But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

This is a good decision ever. If you will start with the little amount and keep trying to learn more and more one day you will be able to invest big and will earn big.
If you are thinking to become a trader so you must have some basic knowledge about candles basic patterns and the main thing is that you must have a look on the current news. First this will tell you that what's going on in the world and also will give you the green and red signals to trade.

I regularly monitor the trading candles and try to understand the market from the candles. And I am trying to better understand the discussions about trading in various social media. Hopefully in a few days I will get a rough idea of trading. And when I feel that I have a rough understanding of the training, I will start trading. Hope I can achieve success by trading. And of course I want to start trading bitcoin with small amount of money at first.

If you just want to start trading and try to understand the discussion about trading on various social media that would be a good way. but you really have to be careful and just learn technical and fundamental analysis. Do not listen to investment advice or signals from other people. if you already understand the basics of trading, then you are ready to start your first trade. don't just think about the benefits, but think about the losses and risks that will occur.
Bitcoin is the best choice to start with.

Fuso.hp

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Quote from: ThemePen on February 07, 2023, 01:49:21 AM

Quote from: Fuso.hp on February 06, 2023, 10:58:19 AM

But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

This is a good decision ever. If you will start with the little amount and keep trying to learn more and more one day you will be able to invest big and will earn big.
If you are thinking to become a trader so you must have some basic knowledge about candles basic patterns and the main thing is that you must have a look on the current news. First this will tell you that what's going on in the world and also will give you the green and red signals to trade.

I regularly monitor the trading candles and try to understand the market from the candles. And I am trying to better understand the discussions about trading in various social media. Hopefully in a few days I will get a rough idea of trading. And when I feel that I have a rough understanding of the training, I will start trading. Hope I can achieve success by trading. And of course I want to start trading bitcoin with small amount of money at first.

ThemePen

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Quote from: Fuso.hp on February 06, 2023, 10:58:19 AM

But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

This is a good decision ever. If you will start with the little amount and keep trying to learn more and more one day you will be able to invest big and will earn big.
If you are thinking to become a trader so you must have some basic knowledge about candles basic patterns and the main thing is that you must have a look on the current news. First this will tell you that what's going on in the world and also will give you the green and red signals to trade.

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Quote from: Fuso.hp on February 06, 2023, 10:58:19 AM

But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

Not to be pessimistic here, but what you feel is subjective. You could also lose when you trade bitcoin. Some loses a lot during the bull market thinking that it will go beyond 100k to 200k in value but instead did a major pullback and now coming back again. Yes do a business and only trade if you already gain the knowledge on how to do it. Its not a joke to do heavy trading especially in crypto that is so volatile.

bounceback

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Quote from: Fuso.hp on February 06, 2023, 10:58:19 AM

-snip-
But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

Not only bitcoin but several other altcoins that have strong fundamentals can also sometimes give us profits if we trade based on sufficient knowledge and experience because having experience lets us know when the momentum is right to buy and when is the right time to sell back, trading is not it's as easy as we imagine because no one can read price movements precisely, moreover basically crypto price movements are very volatile, so it's very possible that we have to be willing to lose everything if we make mistakes in trading.

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Quote from: Fuso.hp on February 06, 2023, 10:58:19 AM

For some time now I have been making a plan that I will trade on the crypto platform . But I am not able to trade because I don't have enough knowledge about trading. I have no idea how much money is needed to trade or what coins I can currently profit from trading.

But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

The basics to learn are about the coins you will choose to trade. Learning the extent of a coin's potential will be very useful because it can keep us away from scam coins.
Money comes second in trading activities because without knowing the basics of trading then the money will not give us the desired goal.

The choice of Bitcoin for you to trade is right even though the amount of money you have is limited.
Learn first the difference between other coins and Bitcoin because if we say Bitcoin is the king of coins and the best investment choice, you might not believe it. Learn the history of Bitcoin's journey with other coins.

We are sure you will not be disappointed choosing Bitcoin.

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Quote from: Fuso.hp on February 06, 2023, 10:58:19 AM

For some time now I have been making a plan that I will trade on the crypto platform . But I am not able to trade because I don't have enough knowledge about trading. I have no idea how much money is needed to trade or what coins I can currently profit from trading.

But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

A trader should learn some basic things at the beginning of trading. Which will increase his trading skills. A new trader needs to know which coins are good and which will be bullish in the future and which coins will never come back. Trader needs to possess a lot of knowledge which is not possible to acquire in a short period of time. A trader get advantage of trading Bitcoin. In this platform there is no chance of loss if someone hold it for a long time. Moreover, it is the best investment in crypto currency sphere.

Various topics are discussed in www.babypips.com a users can learn and trade the financial markets safely and responsibly through this site. It is possible to achieve better efficiency by applying these rules and regulations and different types of trading knowledge with few days.

Patrol69

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You present two things here one is that you don't have enough knowledge about trading but you are interested in trading and another thing is that you want to start trading with Bitcoin for the first time.
First discussing about your lack of understanding about trading:
First of all you don't know much about trading but you are interested in trading so I suggest you first get good understanding about trading. Different Candles Understand the current market conditions first and when you get enough knowledge about trading you can start trading with a small amount of money.
Starting your trading with Bitcoin:
I think you have made a very good decision Bitcoin is always better than other coins especially for trading. So if you start trading with Bitcoin hopefully you will earn some profit and there will be less risk.

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Quote from: Fuso.hp on February 06, 2023, 10:58:19 AM

For some time now I have been making a plan that I will trade on the crypto platform .

One of biggest mistakes people commonly make is think that they can get rich quickly and easily by trading. They heard, read, watched somewhere about rich stories and think that those stories are real and rosy so that they want to make their debuts like that.

Trading is risky and not easily so most of newbies will lose money, not get rich with trading.

Quote

But I am not able to trade because I don't have enough knowledge about trading. I have no idea how much money is needed to trade or what coins I can currently profit from trading.

How long have you ever participated in cryptocurrency market?

If your time here is not too long, a few years, you should not think of trading.

Your way is to start with investment in Bitcoin. Spend a few years to see your portfolio growth with Bitcoin and experience how bull and bear market comes and completes then how news, fuds impact this market.

If you have profit from investment in Bitcoin, a few years later, you can use small part of it for trading. Don't use all fund for trading because even you have a few years in this market and succeed with investment, you are still vulnerable to lose by trading.

SOKO-DEKE

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Quote from: Fuso.hp on February 06, 2023, 10:58:19 AM

For some time now I have been making a plan that I will trade on the crypto platform . But I am not able to trade because I don't have enough knowledge about trading. I have no idea how much money is needed to trade or what coins I can currently profit from trading.
But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

Due to what you said that you don't have enough knowledge about trading, that should be a major issue because you can't be a great trader without having the necessary skills, I will advice you to learn as much as you can about trading before you dive in. capital shouldn't be a concern because beginners are always advised to start with little amounts of money so they may learn from their mistakes before beginning to trade with larger sums.

Trading Bitcoin is a fantastic option because it doesn't lose value as quickly as other coins do over the course of a few hours.

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Quote from: Fuso.hp on February 06, 2023, 11:53:07 AM

Hope you all help me move forward.

I was in the same boat not too long ago. I too had aspirations to trade on a crypto platform but felt overwhelmed with the lack of knowledge about it. It can be intimidating. But don't let that discourage you, there's so much information and resources out there that can help you learn and get started. Just take your time and do your research before you jump into anything and you'll be well on your way. Just remember that when it comes to trading and investing in the crypto space, there's no such thing as a get rich quick scheme. It takes time, patience and discipline.

drwhobox

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Op you want to make profit from trading bitcoin as a beginner and want to invest more later, but this is not how things work in trading. It is not easy to make profit from day trading. The proven way of making money from bitcoin is by holding it for long term.
First focus on learning, then make a plan and take your next step according to your plan.

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Quote from: Fuso.hp on February 06, 2023, 10:58:19 AM

For some time now I have been making a plan that I will trade on the crypto platform . But I am not able to trade because I don't have enough knowledge about trading. I have no idea how much money is needed to trade or what coins I can currently profit from trading.

There is no minimum or maximum amount you can put into trading; just make sure you put money into trading that you won't need right now to avoid exiting the market when you're already profiting from it, as in the case of emergency funds. Learning is the most important thing you need before you begin trading, so learn how to trade first before you begin investing in order to get a good guide in the market.

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But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

Bitcoin is the best currency for a beginner to trade because it allows for risk management and, to some extent, loss minimization. Bitcoin is the only coin on which you can rely and profit in the long run if you invest for a long period of time.

Cryptomultiplier

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Quote from: Fuso.hp on February 06, 2023, 10:58:19 AM

For some time now I have been making a plan that I will trade on the crypto platform . But I am not able to trade because I don't have enough knowledge about trading. I have no idea how much money is needed to trade or what coins I can currently profit from trading.

But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

Even a baby has to learn to crawl before standing and walking and running. The process of learning is not one that can be avoided, because without the knowledge of how to acquire the coins, the amount that would be sufficient, what exchange to use and other necessary setup that would be needed to be successful at trading, to be a successful trader would just be merely a dream. That is one reason for this forum. You learn here and have access to ask questions and get real life answers from experienced persons.

Stepstowealth

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Quote from: Fuso.hp on February 06, 2023, 10:58:19 AM

But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

There is the chance of you profiting and also the chance of you loosing, and guess what? they are both likely to happen. As you expect to gain, expect to loose money too. If you have a small amount of money to start trading with, I think it is even better to start something else or just buy bitcoins to keep instead of wanting to trade when you do not have enough money to bear the risk. Trading is not the only way to make profit from cryptocurrency.

pixie85

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Quote from: Fuso.hp on February 06, 2023, 10:58:19 AM

But I am not able to trade because I don't have enough knowledge about trading.

Then learn from books, read what people on trading platforms like tradingview have to say, see if they're good with their predictions and try to copy their ideas.

Quote

I have no idea how much money is needed to trade or what coins I can currently profit from trading.

There's no minimum or maximum. Just note that you will maybe earn 5% on a trade so if you start with $100 that's going to be $5.

There's a number of gambling methods. Some people play with leverage but I recommend you don't go over x3 as this is the fastest way to lose it all.
Remember that the market is heavily manipulated and you will probably lose more money nhan you'd gain by holding your coins.

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