Topic: how to become a TRADER - page 24. (Read 8483 times)

Initially, I would recommend small amount trade with a higher frequency so that you will be able to learn and understand the behaviour of the market. Focus on adopting the analytical skills by studying about the price movements and factors that influence the price. The best way to learn to how to trade is the trial and error method because in that way you will be able to conduct your own experiments and build your own trading strategy that would fetch the best possible results for you. Do your own research and do not blindly follow other's opinion especially while picking the trading pairs and strategies.

If you want to become a good trader you really have to do effort and a lot of study because you will surely incur loses if you trade with lack of knowledge. Read some trading books, or blogs, watch trading tutorial this thing will surely help you to become a profitable trader. Bitcoin is too risky specially when you don't have any idea about this, preparation is always pays the best interest for you investment.

You need a teacher, learning bitcoin with self-taught is very difficult because only with theory we can not necessarily get profits, you need experience and some advice from those who are very experienced in trading, I suggest you need to know the normal price of the altcoin.

With time and more research and good investments.

Key !!!
1. patience n holding  : the words of trader you must have patience for you to get profit...
2. Control emotion

Kudos to you! You made the first step. You do not need to invest huge amounts because a trader is not defined by how much he is investing. It is what he does with the small amounts to make it big. Actual practice is our best teacher. Keep on reading and watch tutorials, there are plenty of them then put to practice. God bless! :-D

its easy to become a trader but, there is a difference between a good trader and a trader,
for example a good trader analized every situation also do research and stuff like that
and on the otherside a trader just listen to others, hype lack of research will bring a trader down
with his money disappear with it

well to become a trader you need a lot of practice   maybe do trading today.because  it really required an experience  in order for you to gain .do trade  for today and dont be afraid about the result take risk and dont be afraid .because life is full of risky dicision and if you cant get over your risk there will no change that came  to your life  you remain on the status that yoi have today .i suggest to start it right now do research and listen to those trader who are experience enoughf maybe they can teach you a great lesson about trading because tbey expereince on doing it from the past.

To become a trader first you must have to invest not just a money matters but also your time, attention and patience in trading. Trading on first try is sucks, there you may feel fear of trying to trade your earn coin. And yes, it is possible that you may have a huge loss and also it is not impossible that you may earn huge too. This type of situation is inevitable in trading, I think it was already a principle of it.

It really hard for a beginner to start trading in btc. It requires patience, experience and knowledge. There's a time that you've been lucky that on your first try it was successful and sometimes you may lose. Worst is that you lose on your first try. You feel of fear to try again but lose some and win some is natural thing in trading.

you actually have achived beginners luck, when many traders start, they do not earn anything at all. some even make huge losses. keep trying and seek as much information as possible from established gurus.

I completed my first trade, for a $90 net profit.

I promptly lost about $30 on my next trade by making a dumb mistake. ( I bought some LTC and accidentally sold it immediately, incurring the buying and selling fee).

I then bought some ETH, XMR, LTC at what seemed to be lows. I set some conservative sell bids and watched the market go through some shallow swings to slightly lower prices. (I know these coins will rise back up soon after the hardforking)

Apparently there are some jitters going on with this upcoming BTG hardfock.

I watched the previous BTCC hardfork take place and was not terribly impressed, through I did indeed make some significant gains by simply buying as much BTC as I could at the time.

Apparently everyone is expecting many different things to happen after the hardfork. The only consistent sentiment seems that BTC will continue to be bullish, and I suspect the bigger volume established alt-coins will also be along for the ride(like ETH, XMR, LTC).

Ya really don't have to be a rocket scientist whiz kid trading analyst to spot these trends!

So now it is simply exercising my patience muscles and wait to see the coins hit my sell prices after the forking is over.

I can see how my strategy won't be making me a million dollars overnight, but some spare pocket change is certainly very very feasible.

cheers..

well, what started with cryptocurrency and the dynamics of the model, that's good. In General, my advice to you is to read all the news about bitcoin, any information about could affect one way or another cryptocurrency

Hey mate! Good you want to take a bold step, and impressed that you are trying to learn first. There is really no shortcut to it, you just have to learn the technical analysis, or at least the little bitty few things you can grab. You cannot learn it all in one day, so I guess you will have to practice with the little you have learnt and keep learning as time goes on.

There are some traders on youtube that can teach you how to observe trends and trade safely, so you may consider that as well. Trading can be profitable if you are good and if you have some good capital to start, however, for a newbie, it is good you start small and from what you have said, since you have made a little bit of profit, then I see no reason why you should quit. No one was born a pro trader, we all started somewhere.

That's true cause trading is unpredictable job, you lose and get lot of profit. You need to accept mistakes and it will the lesson to become a good trader. If you are a beginner it is normal to make a mistakes and as long as you did not stop I'm sure it has a good result in the end. It is because the failures/mistakes result of losing, and this will realize that we don't need to do that again next time otherwise you know the right and have a right decision.

Patience is really a major thing here on trading world which this kind of behavior would really help you out on trades which you can actually execute it without having a panic when you saw that prices are going on opposite way which you did anticipate.Starting up trading wont really be an easy task on where you would really need up to search up things related to it.Formulating your own strategies and trading habits which you can see that you would able to be profitable.Its just really a matter of trial and error.

Welcome to the crypto trading world.

First of all you should learn how to stay patient, then you should learn analysis even if you don't like it.
Usually trading is not a easy thing. It needs lot of efforts to become a successful trader.

Before executing a trade in a coin, you should make enough analysis, check news and then stay clam to see profit.

Make your own money management theory and of course create a strategy.

I hope you will be successful one day.

Good Luck Mate!

First of all trading is not easy beinf trader is not easy also . Because yoy need more knowledge before you start trading . You need to make always research , before buying and selling altcoin . And you need capital to trading and thats good if you have big capital because they have chances that you earn big profit in the future. Trading is one of best way to grow your bitcoin but study first before start.

I must agree with you since to become a trader is not necessarily that you need a big capital or a lots of friends. Trading can be mastered through practice, slowly but surely. Buy altcoins and start to trade it with bitcoin then you will learn how the market moves because you will be soon starting to write everything you wanted to know. Do more trading with just a small amount of money so you'll learn what is do's and don't specially if you do some research about it.

I think nothing is more difficult that this controlling your emotions when you are taking some decisions. You all may know that business is the game of decisions. These decisions are based on your calculations of losses and profits.

But here is one hidden thing that is often ignored, the emotions. You have to control them else they control out, and this will be the worst decision.