Topic: Just a little guide for new crypto traders (Read 354 times)
This could be a big help absolutely, It is well elaborated that could understand by a newly trader. I hope that you will continue to help new traders and make a legacy.
The most factor that make many trader loss money is they can not manage the psychology of emotion. Greedy and not patient is natural emotion that difficult to control it. According to research trader will possible make profit consistently from trading if they can manage that emotion, and for the knowledge about technical and fundamental analysis is second factor, so we should be also learn how to manage that natural emotion.
I didn’t understand a word of this post
Hi all,
I saw recently in crypto market and also some posting as sharing from experienced crypto space here, as I understood that there are something to be a reference specially for who are new even with this crypto space.
I just want to share specially for newbie in trading or investment, it is opened also to add or to revise this posting if necessary.
I myself is not an old person who know a lot in this kind currency but lately I see a comparative thing between crypto space with some other trading stuff such as stock exchange, futures exchange or forex exchange. There are a similar things among them :
1. Can be used as investment specially between crypto and stock exchange
2. Can be used as trading stuff specially between crypto and forex exchange.
Other different things are :
1. Crypto can be a good investment started from really a birth of a currencies
2. Crypto can be a good stuff for trading as there are big volatility of crypto currencies
To use above whether to investment or trading, it is depending on the purpose. In simply word, if you want to invest just think long term and if want to trade it can be in short term. I think there is none better between two aforesaid just depend on your purpose.
For all two purpose, it is better if we have a guidance how to invest and how to trade. Investing, I think many of member here know and it talked in other topic. Now I just share the guide to trade.
Trading in crypto has similarity with trading for other stuff just the different is in high volatility as said above. You need to prepare at least below :
1. Psychology / Emotion
2. Analysis
Emotion is required to avoid from panic situation or to avoid greedy behavior, these will cause you to gain not optimum profit even with LOSS. Discipline is required in this emotion field as there are rule to be developed by our-self and to be obeyed with NO EXCEPTION!!
While Analysis is important to be our reference, this is the different thing between gambling and trading. There are 2 basic analysis in trading :
1. Fundamental analysis
2. Technical Analysis
Fundamental analysis is an analysis based on news related with the currencies we are traded of. We should know the impact of a news to the currency whether it is positive or negative. Positive news such as there is news to support from several countries to currency then the currency value will be increased. Negative news such as ban from some countries to currencies therefore many people sell them to cause the value decreasing. If in foreign exchange (forex), industrial productivity decreased will lead to currency of that country to be decreased. Same also with economic growth is lower that previous month or lower than prediction then the currency will decrease.
While Technical Analysis is an analysis to be based on graphical presented including the indicators. Usually the graphical to be analyzed in candle stick and accompanied by indicators. There are many indicators developed by the graphical presented such as Moving Average, Stochastic, Bollinger Band etc. For a new trader, usually introduced Moving Average with some modifications.
For now, I think it is important for new trader to prepare emotion and analysis before open a position in a trading. So there is no more gambling in this industry as you have a preparation and analysis. I want to share more knowledge of trading here but I don't know how to put a picture from screenshot to give some examples specially how to use Technical Analysis with the indicators.
Once again, it is better to prepare yourself with preparation into a battle rather than you go without preparation and some tools or even big gun...!!
See you in other occasion....
I saw recently in crypto market and also some posting as sharing from experienced crypto space here, as I understood that there are something to be a reference specially for who are new even with this crypto space.
I just want to share specially for newbie in trading or investment, it is opened also to add or to revise this posting if necessary.
I myself is not an old person who know a lot in this kind currency but lately I see a comparative thing between crypto space with some other trading stuff such as stock exchange, futures exchange or forex exchange. There are a similar things among them :
1. Can be used as investment specially between crypto and stock exchange
2. Can be used as trading stuff specially between crypto and forex exchange.
Other different things are :
1. Crypto can be a good investment started from really a birth of a currencies
2. Crypto can be a good stuff for trading as there are big volatility of crypto currencies
To use above whether to investment or trading, it is depending on the purpose. In simply word, if you want to invest just think long term and if want to trade it can be in short term. I think there is none better between two aforesaid just depend on your purpose.
For all two purpose, it is better if we have a guidance how to invest and how to trade. Investing, I think many of member here know and it talked in other topic. Now I just share the guide to trade.
Trading in crypto has similarity with trading for other stuff just the different is in high volatility as said above. You need to prepare at least below :
1. Psychology / Emotion
2. Analysis
Emotion is required to avoid from panic situation or to avoid greedy behavior, these will cause you to gain not optimum profit even with LOSS. Discipline is required in this emotion field as there are rule to be developed by our-self and to be obeyed with NO EXCEPTION!!
While Analysis is important to be our reference, this is the different thing between gambling and trading. There are 2 basic analysis in trading :
1. Fundamental analysis
2. Technical Analysis
Fundamental analysis is an analysis based on news related with the currencies we are traded of. We should know the impact of a news to the currency whether it is positive or negative. Positive news such as there is news to support from several countries to currency then the currency value will be increased. Negative news such as ban from some countries to currencies therefore many people sell them to cause the value decreasing. If in foreign exchange (forex), industrial productivity decreased will lead to currency of that country to be decreased. Same also with economic growth is lower that previous month or lower than prediction then the currency will decrease.
While Technical Analysis is an analysis to be based on graphical presented including the indicators. Usually the graphical to be analyzed in candle stick and accompanied by indicators. There are many indicators developed by the graphical presented such as Moving Average, Stochastic, Bollinger Band etc. For a new trader, usually introduced Moving Average with some modifications.
For now, I think it is important for new trader to prepare emotion and analysis before open a position in a trading. So there is no more gambling in this industry as you have a preparation and analysis. I want to share more knowledge of trading here but I don't know how to put a picture from screenshot to give some examples specially how to use Technical Analysis with the indicators.
Once again, it is better to prepare yourself with preparation into a battle rather than you go without preparation and some tools or even big gun...!!
See you in other occasion....
Its really a very good post with such a great usefull information. This is the most important basic things which must be gained and developed by a newbie traders to rock the cryptoworld I strongly agree with the point of psychology and emotion without which we cant withstand in the market for a long time. We should never panic and sell the coins without the analysis. Please do more share about trading with the picture which might be usefull to all.
Hi all,
I saw recently in crypto market and also some posting as sharing from experienced crypto space here, as I understood that there are something to be a reference specially for who are new even with this crypto space.
I just want to share specially for newbie in trading or investment, it is opened also to add or to revise this posting if necessary.
I myself is not an old person who know a lot in this kind currency but lately I see a comparative thing between crypto space with some other trading stuff such as stock exchange, futures exchange or forex exchange. There are a similar things among them :
1. Can be used as investment specially between crypto and stock exchange
2. Can be used as trading stuff specially between crypto and forex exchange.
Other different things are :
1. Crypto can be a good investment started from really a birth of a currencies
2. Crypto can be a good stuff for trading as there are big volatility of crypto currencies
To use above whether to investment or trading, it is depending on the purpose. In simply word, if you want to invest just think long term and if want to trade it can be in short term. I think there is none better between two aforesaid just depend on your purpose.
For all two purpose, it is better if we have a guidance how to invest and how to trade. Investing, I think many of member here know and it talked in other topic. Now I just share the guide to trade.
Trading in crypto has similarity with trading for other stuff just the different is in high volatility as said above. You need to prepare at least below :
1. Psychology / Emotion
2. Analysis
Emotion is required to avoid from panic situation or to avoid greedy behavior, these will cause you to gain not optimum profit even with LOSS. Discipline is required in this emotion field as there are rule to be developed by our-self and to be obeyed with NO EXCEPTION!!
While Analysis is important to be our reference, this is the different thing between gambling and trading. There are 2 basic analysis in trading :
1. Fundamental analysis
2. Technical Analysis
Fundamental analysis is an analysis based on news related with the currencies we are traded of. We should know the impact of a news to the currency whether it is positive or negative. Positive news such as there is news to support from several countries to currency then the currency value will be increased. Negative news such as ban from some countries to currencies therefore many people sell them to cause the value decreasing. If in foreign exchange (forex), industrial productivity decreased will lead to currency of that country to be decreased. Same also with economic growth is lower that previous month or lower than prediction then the currency will decrease.
While Technical Analysis is an analysis to be based on graphical presented including the indicators. Usually the graphical to be analyzed in candle stick and accompanied by indicators. There are many indicators developed by the graphical presented such as Moving Average, Stochastic, Bollinger Band etc. For a new trader, usually introduced Moving Average with some modifications.
For now, I think it is important for new trader to prepare emotion and analysis before open a position in a trading. So there is no more gambling in this industry as you have a preparation and analysis. I want to share more knowledge of trading here but I don't know how to put a picture from screenshot to give some examples specially how to use Technical Analysis with the indicators.
Once again, it is better to prepare yourself with preparation into a battle rather than you go without preparation and some tools or even big gun...!!
See you in other occasion....
wow, that's a highly constructive post and i appreciate your effort. You have a very good article and help many newcomers in the trading.I saw recently in crypto market and also some posting as sharing from experienced crypto space here, as I understood that there are something to be a reference specially for who are new even with this crypto space.
I just want to share specially for newbie in trading or investment, it is opened also to add or to revise this posting if necessary.
I myself is not an old person who know a lot in this kind currency but lately I see a comparative thing between crypto space with some other trading stuff such as stock exchange, futures exchange or forex exchange. There are a similar things among them :
1. Can be used as investment specially between crypto and stock exchange
2. Can be used as trading stuff specially between crypto and forex exchange.
Other different things are :
1. Crypto can be a good investment started from really a birth of a currencies
2. Crypto can be a good stuff for trading as there are big volatility of crypto currencies
To use above whether to investment or trading, it is depending on the purpose. In simply word, if you want to invest just think long term and if want to trade it can be in short term. I think there is none better between two aforesaid just depend on your purpose.
For all two purpose, it is better if we have a guidance how to invest and how to trade. Investing, I think many of member here know and it talked in other topic. Now I just share the guide to trade.
Trading in crypto has similarity with trading for other stuff just the different is in high volatility as said above. You need to prepare at least below :
1. Psychology / Emotion
2. Analysis
Emotion is required to avoid from panic situation or to avoid greedy behavior, these will cause you to gain not optimum profit even with LOSS. Discipline is required in this emotion field as there are rule to be developed by our-self and to be obeyed with NO EXCEPTION!!
While Analysis is important to be our reference, this is the different thing between gambling and trading. There are 2 basic analysis in trading :
1. Fundamental analysis
2. Technical Analysis
Fundamental analysis is an analysis based on news related with the currencies we are traded of. We should know the impact of a news to the currency whether it is positive or negative. Positive news such as there is news to support from several countries to currency then the currency value will be increased. Negative news such as ban from some countries to currencies therefore many people sell them to cause the value decreasing. If in foreign exchange (forex), industrial productivity decreased will lead to currency of that country to be decreased. Same also with economic growth is lower that previous month or lower than prediction then the currency will decrease.
While Technical Analysis is an analysis to be based on graphical presented including the indicators. Usually the graphical to be analyzed in candle stick and accompanied by indicators. There are many indicators developed by the graphical presented such as Moving Average, Stochastic, Bollinger Band etc. For a new trader, usually introduced Moving Average with some modifications.
For now, I think it is important for new trader to prepare emotion and analysis before open a position in a trading. So there is no more gambling in this industry as you have a preparation and analysis. I want to share more knowledge of trading here but I don't know how to put a picture from screenshot to give some examples specially how to use Technical Analysis with the indicators.
Once again, it is better to prepare yourself with preparation into a battle rather than you go without preparation and some tools or even big gun...!!
See you in other occasion....
I have been involved in long-term trading and your data is absolutely correct. Hope everyone will merit for you and write a thank you message for your post. Sorry I have no merit to send to you.
Nice trading guide @hurry_hore. I'm waiting for another lesson.
Btw, You can use imgur to upload your image. Guides using pictures make it easier to understand.
Btw, You can use imgur to upload your image. Guides using pictures make it easier to understand.
Hi all,
I saw recently in crypto market and also some posting as sharing from experienced crypto space here, as I understood that there are something to be a reference specially for who are new even with this crypto space.
I just want to share specially for newbie in trading or investment, it is opened also to add or to revise this posting if necessary.
I myself is not an old person who know a lot in this kind currency but lately I see a comparative thing between crypto space with some other trading stuff such as stock exchange, futures exchange or forex exchange. There are a similar things among them :
1. Can be used as investment specially between crypto and stock exchange
2. Can be used as trading stuff specially between crypto and forex exchange.
Other different things are :
1. Crypto can be a good investment started from really a birth of a currencies
2. Crypto can be a good stuff for trading as there are big volatility of crypto currencies
To use above whether to investment or trading, it is depending on the purpose. In simply word, if you want to invest just think long term and if want to trade it can be in short term. I think there is none better between two aforesaid just depend on your purpose.
For all two purpose, it is better if we have a guidance how to invest and how to trade. Investing, I think many of member here know and it talked in other topic. Now I just share the guide to trade.
Trading in crypto has similarity with trading for other stuff just the different is in high volatility as said above. You need to prepare at least below :
1. Emotion
2. Analysis
Emotion is required to avoid from panic situation or to avoid greedy behavior, these will cause you to gain not optimum profit even with LOSS. Discipline is required in this emotion field as there are rule to be developed by our-self and to be obeyed with NO EXCEPTION!!
While Analysis is important to be our reference, this is the different thing between gambling and trading. There are 2 basic analysis in trading :
1. Fundamental analysis
2. Technical Analysis
Fundamental analysis is an analysis based on news related with the currencies we are traded of. We should know the impact of a news to the currency whether it is positive or negative. Positive news such as there is news to support from several countries to currency then the currency value will be increased. Negative news such as ban from some countries to currencies therefore many people sell them to cause the value decreasing. If in foreign exchange (forex), industrial productivity decreased will lead to currency of that country to be decreased. Same also with economic growth is lower that previous month or lower than prediction then the currency will decrease.
While Technical Analysis is an analysis to be based on graphical presented including the indicators. Usually the graphical to be analyzed in candle stick and accompanied by indicators. There are many indicators developed by the graphical presented such as Moving Average, Stochastic, Bollinger Band etc. For a new trader, usually introduced Moving Average with some modifications.
For now, I think it is important for new trader to prepare emotion and analysis before open a position in a trading. So there is no more gambling in this industry as you have a preparation and analysis. I want to share more knowledge of trading here but I don't know how to put a picture from screenshot to give some examples specially how to use Technical Analysis with the indicators.
Once again, it is better to prepare yourself with preparation into a battle rather than you go without preparation and some tools or even big gun...!!
See you in other occasion....
I saw recently in crypto market and also some posting as sharing from experienced crypto space here, as I understood that there are something to be a reference specially for who are new even with this crypto space.
I just want to share specially for newbie in trading or investment, it is opened also to add or to revise this posting if necessary.
I myself is not an old person who know a lot in this kind currency but lately I see a comparative thing between crypto space with some other trading stuff such as stock exchange, futures exchange or forex exchange. There are a similar things among them :
1. Can be used as investment specially between crypto and stock exchange
2. Can be used as trading stuff specially between crypto and forex exchange.
Other different things are :
1. Crypto can be a good investment started from really a birth of a currencies
2. Crypto can be a good stuff for trading as there are big volatility of crypto currencies
To use above whether to investment or trading, it is depending on the purpose. In simply word, if you want to invest just think long term and if want to trade it can be in short term. I think there is none better between two aforesaid just depend on your purpose.
For all two purpose, it is better if we have a guidance how to invest and how to trade. Investing, I think many of member here know and it talked in other topic. Now I just share the guide to trade.
Trading in crypto has similarity with trading for other stuff just the different is in high volatility as said above. You need to prepare at least below :
1. Emotion
2. Analysis
Emotion is required to avoid from panic situation or to avoid greedy behavior, these will cause you to gain not optimum profit even with LOSS. Discipline is required in this emotion field as there are rule to be developed by our-self and to be obeyed with NO EXCEPTION!!
While Analysis is important to be our reference, this is the different thing between gambling and trading. There are 2 basic analysis in trading :
1. Fundamental analysis
2. Technical Analysis
Fundamental analysis is an analysis based on news related with the currencies we are traded of. We should know the impact of a news to the currency whether it is positive or negative. Positive news such as there is news to support from several countries to currency then the currency value will be increased. Negative news such as ban from some countries to currencies therefore many people sell them to cause the value decreasing. If in foreign exchange (forex), industrial productivity decreased will lead to currency of that country to be decreased. Same also with economic growth is lower that previous month or lower than prediction then the currency will decrease.
While Technical Analysis is an analysis to be based on graphical presented including the indicators. Usually the graphical to be analyzed in candle stick and accompanied by indicators. There are many indicators developed by the graphical presented such as Moving Average, Stochastic, Bollinger Band etc. For a new trader, usually introduced Moving Average with some modifications.
For now, I think it is important for new trader to prepare emotion and analysis before open a position in a trading. So there is no more gambling in this industry as you have a preparation and analysis. I want to share more knowledge of trading here but I don't know how to put a picture from screenshot to give some examples specially how to use Technical Analysis with the indicators.
Once again, it is better to prepare yourself with preparation into a battle rather than you go without preparation and some tools or even big gun...!!
See you in other occasion....
I am very happy to read about technical analysis for beginners like me. I think it's important for new traders to like me to prepare emotions and analysis before trading. So there is no gambling in this world of crypto because I have good preparation and careful analysis is very helpful for beginners. thank you, may be useful for me..
I enjoyed reading your post and I would like you to elaborate more the Technical Analysis part. In crypto I think Fundamental analysis plays a major role, and can definitely change price movement and completely go against technical analysis. I guess that this might be true for all markets, but news have a much greater impact on crypto, even if they are fake. So fundamental analysis is very important, and traders must really take into consideration every sources of news, even if they are completely wrong and stupid, because people will follow them blindly.
I do believe Technical Analysis can work, specially when no fud or fomo news happen, but it's hard to do. So can you please elaborate more that part. What do you normally do in crypto?
Thanks for your enjoying my post, I am happy to hear that. Yes mostly technical analysis can do if there is no news event, and it usually work for "calm" situation in all stuff trading such as stock, foreign exchange and now crypto. Previously I traded for stock exchange, future stock and foreign exchange. Now I start to trade in crypto still just for BTC but pay attention also for new ICO. The important thread of them are how to understand the market whether from news or graphic. I do believe Technical Analysis can work, specially when no fud or fomo news happen, but it's hard to do. So can you please elaborate more that part. What do you normally do in crypto?
Perhaps you can share with me for Crypto regarding news as I until now do not yet know the source of news in crypto space. If in foreign exchange, there is a pool news such as www.calendarforex.com/ or https://www.forexfactory.com/calendar.php. Most of forex trader refer to those info to find a news.
I hope in cryptospace there are/is news pool as reference of the users either for trading or investing.
1. Follow the trends, trend can be obtained easily in certain period with approach "straight line" to candle stick. This line usually called trend line, I am trying to insert some images but sorry still do not know how to do that than I am giving you the link about trend line : https://vantagepointtrading.com/use-trendlines-trading-dispelling-myths/
Many trader believe these magic words : FOLLOW THE TREND, do not fight against trend. However it is likely more than 60-70% working but there are still any other possibility the trend will be over. Some trader can be trapped in this situation, hope the trend continues but unfortunately it is over. So following the trend shall be monitored whether it will be over or still continue.
2. See time frame, it is depending on our trading strategy for long term or even investment or short term. If short term, it should be defined whether trading in 5 minutes time frame or longer. This time frame selection will determine different approach for time frame. Each time frame will affect among them so we should be careful, let say trading for hourly then to be noticed more intensively in 4 hour or daily trend as former guidance and still to watch 5 minutes trend line or 15 minutes as controlling signal.
3. There will be some short time period, price to be slighter and and trend line seems to be reversed but this is just a moment. We should be very careful in this situation, it is better to wait patiently until firmed the price is reversed or continued the trend. Some speculative traders can use this moment to open the position either following former trend or reversal trend. The risk is higher and also the reward, no pain no gain.....
Generally above are some tips and trick to use trend line in technical analysis for trading. There are so many indicators can be used but in principle and the most basic rule is Follow the trend.....
I prefer combination of technical and fundamental analysis to apply in trading as it can support each other. As example if there is a fud then the price is in down trend (other called BEARISH), it is easier to open a position by seeing this down trend line. During this trend line also, we should notice further signal and indicators as well as other news for fundamental analysis. Fundamental analysis can be confirmed by technical analysis.
I enjoyed reading your post and I would like you to elaborate more the Technical Analysis part. In crypto I think Fundamental analysis plays a major role, and can definitely change price movement and completely go against technical analysis. I guess that this might be true for all markets, but news have a much greater impact on crypto, even if they are fake. So fundamental analysis is very important, and traders must really take into consideration every sources of news, even if they are completely wrong and stupid, because people will follow them blindly.
I do believe Technical Analysis can work, specially when no fud or fomo news happen, but it's hard to do. So can you please elaborate more that part. What do you normally do in crypto?
Thanks for your enjoying my post, I am happy to hear that. Yes mostly technical analysis can do if there is no news event, and it usually work for "calm" situation in all stuff trading such as stock, foreign exchange and now crypto. Previously I traded for stock exchange, future stock and foreign exchange. Now I start to trade in crypto still just for BTC but pay attention also for new ICO. The important thread of them are how to understand the market whether from news or graphic. I do believe Technical Analysis can work, specially when no fud or fomo news happen, but it's hard to do. So can you please elaborate more that part. What do you normally do in crypto?
Perhaps you can share with me for Crypto regarding news as I until now do not yet know the source of news in crypto space. If in foreign exchange, there is a pool news such as www.calendarforex.com/ or https://www.forexfactory.com/calendar.php. Most of forex trader refer to those info to find a news.
I hope in cryptospace there are/is news pool as reference of the users either for trading or investing.
I agree with you. Emotion and phsicology, news and graphic is required in trading. Related with emotion and news I possibly can manage the.. But talk with technical I do not fully understand. Can you explain what is basic technical required?
It's good if you can manage emotion or psychology in trading as that is a strong factor, technical basically to view graphic that mostly used as candle stick and the indicators. Most used indicators for long term trading is Moving Average. There are 2 lines in Moving Average indicators usually the color is red and blue but they can be set out. If blue line crossed the red line, it indicates the price will go down and if the red line cross the blue line then the price is going up. There is a strong principle also in trading that is "DON'T FIGHT WITH TRENDS"....follow it. If you are late to open a position when the Moving Average crossed, just follow the trend means if the price trend is up then we should buy and vice versa.
That is the most basic technical analysis that can be used for newbie.
What really matters most in doing trading is the decision you make, every move has no turning back every buy and sell is final but of course you need sometimes to rely on situations and emotions is real enemy.
I enjoyed reading your post and I would like you to elaborate more the Technical Analysis part. In crypto I think Fundamental analysis plays a major role, and can definitely change price movement and completely go against technical analysis. I guess that this might be true for all markets, but news have a much greater impact on crypto, even if they are fake. So fundamental analysis is very important, and traders must really take into consideration every sources of news, even if they are completely wrong and stupid, because people will follow them blindly.
I do believe Technical Analysis can work, specially when no fud or fomo news happen, but it's hard to do. So can you please elaborate more that part. What do you normally do in crypto?
I do believe Technical Analysis can work, specially when no fud or fomo news happen, but it's hard to do. So can you please elaborate more that part. What do you normally do in crypto?
I quite with the OP and this is a well detailed and perfect article for a newbie in trading, of course emotion and fear is major factor towards achieving a successful trading more so technical analysis must also be considered mostly the use of indicators, Japanese candlesticks patterns and price actions are important tools that must also been taken into consideration.
I agree with you. Emotion and phsicology, news and graphic is required in trading. Related with emotion and news I possibly can manage the.. But talk with technical I do not fully understand. Can you explain what is basic technical required?
Hi all,
I saw recently in crypto market and also some posting as sharing from experienced crypto space here, as I understood that there are something to be a reference specially for who are new even with this crypto space.
I just want to share specially for newbie in trading or investment, it is opened also to add or to revise this posting if necessary.
I myself is not an old person who know a lot in this kind currency but lately I see a comparative thing between crypto space with some other trading stuff such as stock exchange, futures exchange or forex exchange. There are a similar things among them :
1. Can be used as investment specially between crypto and stock exchange
2. Can be used as trading stuff specially between crypto and forex exchange.
Other different things are :
1. Crypto can be a good investment started from really a birth of a currencies
2. Crypto can be a good stuff for trading as there are big volatility of crypto currencies
To use above whether to investment or trading, it is depending on the purpose. In simply word, if you want to invest just think long term and if want to trade it can be in short term. I think there is none better between two aforesaid just depend on your purpose.
For all two purpose, it is better if we have a guidance how to invest and how to trade. Investing, I think many of member here know and it talked in other topic. Now I just share the guide to trade.
Trading in crypto has similarity with trading for other stuff just the different is in high volatility as said above. You need to prepare at least below :
1. Psychology / Emotion
2. Analysis
Emotion is required to avoid from panic situation or to avoid greedy behavior, these will cause you to gain not optimum profit even with LOSS. Discipline is required in this emotion field as there are rule to be developed by our-self and to be obeyed with NO EXCEPTION!!
While Analysis is important to be our reference, this is the different thing between gambling and trading. There are 2 basic analysis in trading :
1. Fundamental analysis
2. Technical Analysis
Fundamental analysis is an analysis based on news related with the currencies we are traded of. We should know the impact of a news to the currency whether it is positive or negative. Positive news such as there is news to support from several countries to currency then the currency value will be increased. Negative news such as ban from some countries to currencies therefore many people sell them to cause the value decreasing. If in foreign exchange (forex), industrial productivity decreased will lead to currency of that country to be decreased. Same also with economic growth is lower that previous month or lower than prediction then the currency will decrease.
While Technical Analysis is an analysis to be based on graphical presented including the indicators. Usually the graphical to be analyzed in candle stick and accompanied by indicators. There are many indicators developed by the graphical presented such as Moving Average, Stochastic, Bollinger Band etc. For a new trader, usually introduced Moving Average with some modifications.
For now, I think it is important for new trader to prepare emotion and analysis before open a position in a trading. So there is no more gambling in this industry as you have a preparation and analysis. I want to share more knowledge of trading here but I don't know how to put a picture from screenshot to give some examples specially how to use Technical Analysis with the indicators.
Once again, it is better to prepare yourself with preparation into a battle rather than you go without preparation and some tools or even big gun...!!
See you in other occasion....
I saw recently in crypto market and also some posting as sharing from experienced crypto space here, as I understood that there are something to be a reference specially for who are new even with this crypto space.
I just want to share specially for newbie in trading or investment, it is opened also to add or to revise this posting if necessary.
I myself is not an old person who know a lot in this kind currency but lately I see a comparative thing between crypto space with some other trading stuff such as stock exchange, futures exchange or forex exchange. There are a similar things among them :
1. Can be used as investment specially between crypto and stock exchange
2. Can be used as trading stuff specially between crypto and forex exchange.
Other different things are :
1. Crypto can be a good investment started from really a birth of a currencies
2. Crypto can be a good stuff for trading as there are big volatility of crypto currencies
To use above whether to investment or trading, it is depending on the purpose. In simply word, if you want to invest just think long term and if want to trade it can be in short term. I think there is none better between two aforesaid just depend on your purpose.
For all two purpose, it is better if we have a guidance how to invest and how to trade. Investing, I think many of member here know and it talked in other topic. Now I just share the guide to trade.
Trading in crypto has similarity with trading for other stuff just the different is in high volatility as said above. You need to prepare at least below :
1. Psychology / Emotion
2. Analysis
Emotion is required to avoid from panic situation or to avoid greedy behavior, these will cause you to gain not optimum profit even with LOSS. Discipline is required in this emotion field as there are rule to be developed by our-self and to be obeyed with NO EXCEPTION!!
While Analysis is important to be our reference, this is the different thing between gambling and trading. There are 2 basic analysis in trading :
1. Fundamental analysis
2. Technical Analysis
Fundamental analysis is an analysis based on news related with the currencies we are traded of. We should know the impact of a news to the currency whether it is positive or negative. Positive news such as there is news to support from several countries to currency then the currency value will be increased. Negative news such as ban from some countries to currencies therefore many people sell them to cause the value decreasing. If in foreign exchange (forex), industrial productivity decreased will lead to currency of that country to be decreased. Same also with economic growth is lower that previous month or lower than prediction then the currency will decrease.
While Technical Analysis is an analysis to be based on graphical presented including the indicators. Usually the graphical to be analyzed in candle stick and accompanied by indicators. There are many indicators developed by the graphical presented such as Moving Average, Stochastic, Bollinger Band etc. For a new trader, usually introduced Moving Average with some modifications.
For now, I think it is important for new trader to prepare emotion and analysis before open a position in a trading. So there is no more gambling in this industry as you have a preparation and analysis. I want to share more knowledge of trading here but I don't know how to put a picture from screenshot to give some examples specially how to use Technical Analysis with the indicators.
Once again, it is better to prepare yourself with preparation into a battle rather than you go without preparation and some tools or even big gun...!!
See you in other occasion....
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