Topic: Making profits from trading Crypto TRUE or FALSE? (Read 930 times)

that is very right, although there is a lot money to be earn in trading but for becoming a good trader your need to have good trading experience therefore you need to spend time in trading and hope through this way you will certainly get good experience.

Trading is not easy at all, anybody that says otherwise is lying. No matter how hard you study the basics and understand the markets, you are still betting. And whenever the market goes against you, you will lose. No amount of studying can help you predict market movements. A good trader is the one that knows when to cut their losses, because you will make losses many times.

I think every trader needs to know the answer to this already. Most traders already made money from it and more will make money out of it. I've been trading for just almost a year and i cam very well say that i've earned quite a good amount already from it that i'm considering leaving my regular job and focus on it entirely.

totally disagreed, both are currency trading markets. Look at your chart of EURUSD and BTCUSD as see for example if the markets respect S/R levels or any other economic principals of trading. Yes they do, I can agree with you that not all that work on Forex works on crypto but most of them do all the times.

well said, even before making a trade with all indicators and S/R you still need to do your research. Right now in crypto volume matters such as in forex. You don't go trading a new coin with now adequate volume and think there would be good price movement for you to make profit,  that wouldn't work. Volume is a key player in trading coins.

I agree with you.

I will agree with you that trading means a lot of patience. You have to look at your chart and probably indicators to know when best to trade. Secondly in all forms of trading, losses occurs but having a good knowledge of S/R & candlestick would be of great advantage so why would you want to make profit but can't sacrifice the time to learn?

this is also good as channels and volume are both very impressive when applied properly.

Haha, are you still can earning profit with bearish trend at now? We are know buy low, sell high is basic in trading, but want do that need have good skill, knowlegde and experience or just by some lucky and will loss all after our lucky disappear

As far as altcoin trading is considered,most of traders loose as it is highly volatile and its mostly unpredictable.Most of altcoins are just pumped and dumped and your profit depends on the time you enter and exit.But bitcoin trading is much better than altcoins as it is less volatile than altcoins and most of traders have made huge profits from bitcoins.

I think that cryptocurrency market is quite uncertain. There are lots of pumps and dumps going on. Traders are generally unaware of the possible reason for the fluctuation of cryptocurrencies. That is the reason for underperforming or loss in crypto trading.

This also differentiate crypto trading from forex. In forex trading there is not much uncertainty and with keeping an eye on latest trends and news, trader can make a better decision. But this doesn't really happen in crypto market which is full of shit coins and are generally driven by whales. Only some major cryptocurrencies are driven by news in market. But they don't always give high profit. They are bit less volatile as compared to other shit coins.

I wished it was that simple. You were lucky enough to bet on right currency at right time. There are tons of available currency. Most of which are scam and dead and mostly driven by pumps and dumps. Making a right choice is quite difficult.

I make lots of profit from trading crypto. One night I made $2,000 while I was sleeping.

They key is (and NEVER forget this): BUY LOW, SELL HIGH.

It really is that simple.

TRUE
Trading in the Forex and cryptocurrency trading are two different things. My opinion is that people who want to apply to the cryptocurrency of the same tools as in the Forex are greatly mistaken.

IMO that's the only viable way to play crypto

For people who know to get profits, it is true, but for those who do not know and mostly ended with loss, it is false.
The ultimate guide? Is it just a guide to trading or there are some information about which coins to buy or today is the right time to, as I read; 'Trade BTC & Altcoin with WhaleClub', or it just a phrase?
There is a safe way to make profits through trading bitcoin and altcoins, do not buy random altcoins which you don't know its potential and devs support, better to invest on some famous coins that has been proven as profitable.

Buy, Hodl, and don't look at your portfolio every hour.

The real question is, with all of your trading and research and time and devotion, are you making more profit than someone who just buys and holds? Is the amount of time you are investing actually even giving you more return than holding? The answer is almost certainly no. There is a lot of research that shows the vast majority of traders underperform the market. Even if you make a 10% profit, if the asset you are trading went up by 15% then your trading was all for nothing, and resulted in lower profits. I doubt any person on this forum can outperform the crypto market consistently by trading.

people should learn how to use indicators. most of the times indicators work realy good. and as you said no emotional decisions. i learned that from last dump. it is painful experience for me :/

False this can't be true all everytime, reason not everyone has the time to check the resistent level and candlesticks or know the correct signals.
The biggest problem is everyone thinks trading means profit but during these crashes they are the first one to sell their coins and a loss and then cry later that they could have made easy profit. Day trading is surely done but trading means lot of patience and last is to trade on the right exchange many start with yobit which not only has any sort of support system but has many shitcoins which people mainly lose from those and not securing tjeir account with 2FA. These are precautions which many don't take and end up getting loses.

I will add to this. Channels and volumes are important. Do not sell at the bottom of the channel and do not buy at the top of the channel. And if the volumes are low, then it is better to wait for another moment of entering the market.

I have been following Crypto and Forex trading for years now and much to my surprise I still seeing people who struggle just to trade. Well, as every business one ventures into you firstly have to learn the basics. Get acquainted to how it all works, what drives the market etc. In my personally view think if you start by grabbing the basic knowledge of trading Forex just to get a hand on how currency market works. Secondly always have it in your mind that your emotion plays no roll in trading but your brains.

To trade is like to build a house, you must know what your end product or target is, your budget and your limits. If have a well thought out strategy to trade, a fixed risk ratio then your emotions can't overwhelm you. Now having a trading plan; there are lots and lots of ways to trade the market but I will only say a few that has caught my attention over the years and they are;

1. Trend lines
2. Support & Resistance

These two principles would always give you back good profit if well applied and a structured risk portfolio is followed. They give you huge insight on the direction of the market and also when to cut your loss and bail. You can research these trading principle online and learn how its applied in trading as they work both on Crypto and regular Forex. You can also grab a copy of my detailed guide here https://bitcointalksearch.org/topic/m.19996969.

Making profits from trading Crypto TRUE or FALSE? the simple answer is yes. you can make profits trading Crypto if you have the right set of tools and the winning mindset.