Topic: How to Trade cryptocurrencies comfortably with profit - page 9. (Read 1536 times)

Agree, but you it's quite difficult to put the emotions aside. Sometimes I even fall for FOMO, though I'm generally quite calm. I bought some BTC from CEX (https://cex.io/btc-usd) and decided to hold them till the prices would increase. And now I'm thinking to switch to trading but with another crypto. Shall I try? The exchange I'm using is quite eoncenient, and I think I could manage that.

Well, just like they always tell every new trader to know that trend is their friend, absolutely makes trend the most important aspect of trading to understand if you really want to be doing well. I can understand a lot of people may not understand how they should treating the market, let alone getting profit from it, because they have no knowledge and understanding of trading and that is one thing a lot of people should know. Trading is not gambling, but a pure profession in which you need to be conversant with some decision making for you to do things right and in a case where you flop in learning, you cannot get anything at all.

It’s not easy to trade cryptocurrency without having some fear in your mind especially when you’re a newbie, but as time goes you will be able to get used to the system on how everything works, then you will be able to get rid of that fear that always come into your mind when you’re trading.

But first you need to know that this is risky business: some people sees cryptocurrency as something without risk due to what they have heard from others or maybe because they have seen their friends making it so they start thinking it is easy, but it is not. It takes time and not something that starts to work for you immediately.

Trading is always confortable for us and will be comfortable only if we have the knowledge to make ways and handle things in any market conditions. Traders are following the Bitcoin and investing in it right now due to its low price availability traders find it easy to buy it on low price and high market makes us able to sell for profit. So, every market conditions have its own solutions and only those who have knowledge will feel comfortable in any conditions.

Yeah, emotions are pretty much one important factor to always get to deal with first and I so much understand the angle you have explained this. I remember when I started trading and indeed I learned some few things and then I was able to get a strategy, but the mistake I made was not building on that strategy using some of the available free trading simulators or demo platform but ended up rushing in with real funds and in that case, I ended up messing up as a result of emotion, not because I do not know what to do, but because I do not have that confidence yet which is why to be able to get the emotions out of the way, you have to be confident in your own skills first.

Best way to trade has always been trend trading.

If you look at the price of bitcoin whenever it goes up 3%-5% range than it goes up a bit more and whenever it goes down 3%-5% range it goes down a bit more. Except recently when it is just stable and not moving much to any sides.

If you do not count these last 2 months trend trading has been a great method. Check out the altcoins for it because they are more volatile than bitcoin, bitcoin even tho much more volatile than the regular stuff like stocks and golds it is still more stable than altcoins which can change 50% in a day easily.

I have seen a coin pumped to 800% in a day, that was the max I have seen, in a regulated market that would have been a problem but in crypto it is alright. Hence, if you see a coin pumped a lot you can get in early and take advantage of it. Just don't get in too late because than you will be part of the dump.

First,  forget about comfort when trading cryptocurrency.  You will have open position that could be unsettling,  your mind will go wild on analysis about what could or could not be.  Trading is very engaging and you should be prepare for it!

It is better to fail at the beginning and know how much you can take in the losses and still be confident and move forward. Failures contribute more to the progress of the people than success do because through your mistakes, you will know in what things you need to improve so that next time you do it, you are already better and bound to be in profit than to lose.

As what you say, it is a profession and if you want to succeed in it, you should dedicate time and effort to study it so that you can devise a trading plan that would let you trade rationally and not be affected by your emotions.

Trading is not that easy as articles used to say. Trading is a profession wherein you need to be well adept and knowledgeable about alomost every detail. It is also learned from experiences not just by the book only. So, to trade comfortably with profit, you need to go through the challenges and faiures trading might bring. Don't afraid to fail at the start. Learn from it.

In trading one need knowledge on how the technical and fundamental analysis affect the market. Many people that lose money in trading did not know how the market is been analyze and becouse their only hear that people are making money from trading cryptocurrencies they jump into it and now losing money. You are right buddy! The loses in trading is unavoidable and you should have this in mind before putting money into trading. There is no man or software that can predict the market accurately and you are therefore advised to invest wisely in other not to lose your investments.

But the practical answer is no,we can't be 100% get success in all our crypto trades because sometimes our loss will be based on after the trades so its not possible here but if you can make profits in the crypto trading more than you losses then you are okay here so don't try to confuse them when you are trading crypto currencies.

Emotions part is true, that is why there is a ton of trading bots in crypto world. People join into this world thinking they could trade and buy low sell high but they get scared and sell too quickly whenever something falls and they keep buying when something is going up with a huge pump forgetting it will have a correction eventually (same people who bought bitcoin when it was 20 thousand dollars for some reason).

Now considering bots do not do that and they just take a look at the indicators and buy and sell according to those without emotion of course bots make more money than people so that is why we have a lot of bots in crypto world and it is a huge business model.

Second difference is bots work 7/24 on making more profits and it is bots only goal, make more money. Whereas people are getting personal with some coins and they "believe" it will go up and so forth however sometimes it doesn't because market doesn't care what the trader is thinking.

Absolutely, learning phase is actually one of the things that we really take for granted most of the time in our early days of trading. Sometimes we tend to do some rush learning just because we simply want to end up taking advantage of the market quickly to start making money, and instead we ended up seeing things the other way round and quickly getting frustrated.

Trading cryptocurrency and making profit from it, requires, knowledge, skills, confidence in those skills and discipline and if all these things are lacking, it would be a hard thing to ever come by profit and if you do not end up getting to learn the hard way, you may just chicken out and consider trading not to be your thing.

The absolute reason why a lot of people tend to get emotional when it comes to trading is because they are always so in a haste to want to make money and that is a terrible thing that would always backfire as emotions start springing up. If you want to avoid trading emotionally, then you should be working on yourself, your knowledge and the strategy you have been able to come up with. People tend to always forget that trading is always something that deals with professionalism, and if you see it as gambling, you will never be able to come out of trading with emotions.

The plan of trading comfortably will get collapsed when a trader gets greedy. We do see many traders are doing that even they have started well in their beginning days. I mean, learning alone will not help any trader but we must practice of not getting greedy at any point of time while trading. This is being called experience and only traders who show discipline while trading get chances to become pro traders.

Yes, here is my whole point lies on. Just learning and then following all the formula of trading will not just land one trader into the profit zones. He must work hard each and every time toward not losing his control over emotions and must follow his strategies all the times for perfect entry and exit.

I would even say a gradual and steady learning phase until you know how to do things right is what is always important. Also, a lot of people tend to want to see themselves making very huge amount of money from trading and they tend to always forget that there is actually no way you can get the best by being greedy or being in a haste to do anything as you will end up being short of learning, building experience and strategy and in that case, you will just be busy gambling your positions in the market, which the last time I checked, a whole lot of people that ended up going that path, things always end up flopped for them.

I am very sure anywhere you get to go, the first thing you will be told when it comes to trading is to deal with your emotions and build your confidence on your trading strategy. You can only control your emotions if you know what you are doing or basically have the knowledge of how to trade pretty well, have a strategy you are making use of and have been able to build on and then you are doing well.

One thing with trading is that if you do not have confidence in what you are doing, just like any other thing at all, you will only end up fumbling and getting emotional for no reason and this is the main reason why we keep saying before you trade, make sure you seek the knowledge, be able to come up with a strategy, practice it pretty well to build your confidence, even fine tune it and you will see yourself doing well in the long run without having to put in emotions in your trading.

Of course even at bearish market, people can still make a profit. But it's up to how knowledgeable you are. I'm sure that most of us here haven't seen what a bear season is, so its going to be difficult but if you have the tools then you can also make a good money.


Well emotions is the traders worst enemy, if you don't know how to control it, sooner or later you take a huge lost because your decisions will be clouded. I'd say that majority of newbie traders succumb to this, but what's importance is how to learn from your mistakes and move on.

Hope the newbies to trading will find this information and apply it to their trading decisions. In trading only the wise investors really make money. Emotions are the reason why traders lose money and if you really want to make money from the market you must do away with your emotions especially negative one. During my stock trading I could still remember that the reason why I lost money was because of fear and not my trading analysis.

For comportable profit in trading just pick some good coins and safe investment to trade your cryptocurrency altcoins that can make you some profit to earn as slowly but surely profit.

Try to get 2% - 5% gains every day when trading, don't trade for coins that have a history of low volume because it is not safe. You can read it more about it on my thread https://bitcointalksearch.org/topic/m.46755579

This method works best for me.