TEN Crypto Trading Lesson. | Bitcointalksearch.org

tippytoes

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Quote from: Anguwa on February 06, 2022, 06:38:14 AM

These trading tips and advice sound very good, and they're probably the right direction for new traders. I find these tips very encouraging because I can see some of the mistakes I've made and some of the things I've overlooked while trying to make a profit, and I've also learned the value of taking risks. Such advise is excellent and I recommend it to all beginners in cryptocurrency trading in order to minimize loss.

The last item - 10 - stated that about 3-4 yrs time is the logical time to expect profit. This is where a lot of traders, new traders in particular, are thinking it wrong. Because most of them want their profits at the very start of their journey. They thought getting on board in crypto market is an easy peasy work. And then, they realized that there's more than meets the eyes in this market. One needs familiarity with the market especially the coins he decided to get involved with. It is also a matter of time before one can grasp what's going on in this market.

andriarto

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Quote from: palle11 on February 06, 2022, 08:38:08 AM

Quote from: Anguwa on February 06, 2022, 06:38:14 AM

and I've also learned the value of taking risks.
.

Take note that it is not all risk that is valuable and worthy to go after. Like number 8 of Op talking about not chasing breakout, this is risky to do because you can take the risk of chasing the market but it goes back against you. Break outs are very risky to trade, anything can happen with such and is better not to take a risk that you can not recover from in a longtime.

but before we trade, of course we have taken into account the support or resistance area, if there is a breakout later, of course there will be a change in trend. and I think we have to understand this in order to be able to do a cutloss if the resistance is broken by the breakout candle. therefore this is where what is meant by trading is an opportunity, and if we are wrong with the initial strategy then we can run other strategies, according to the market that is happening

palle11

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Quote from: Anguwa on February 06, 2022, 06:38:14 AM

and I've also learned the value of taking risks.
.

Take note that it is not all risk that is valuable and worthy to go after. Like number 8 of Op talking about not chasing breakout, this is risky to do because you can take the risk of chasing the market but it goes back against you. Break outs are very risky to trade, anything can happen with such and is better not to take a risk that you can not recover from in a longtime.

Anguwa

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These trading tips and advice sound very good, and they're probably the right direction for new traders. I find these tips very encouraging because I can see some of the mistakes I've made and some of the things I've overlooked while trying to make a profit, and I've also learned the value of taking risks. Such advise is excellent and I recommend it to all beginners in cryptocurrency trading in order to minimize loss.
.

Mpamaegbu

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Quote from: The Cryptovator on January 27, 2022, 02:54:39 PM

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4. Which indicators to use? Horizontal S/R is the most logical kind of tool
8. If you miss a breakout, don't chase it.

Source: https://twitter.com/EmperorBTC/status/1486348522408808457

I like those two. They're really instructive for me, and that's true. The best points to trade from are Support & Resistance and Breakout (BOs). However, it's not good to play catchup with the market once one misses the bus. Wait for another. There are many others approaching. But anxious or noob traders think every missed opportunity won't repeat itself. Don't rue a missed Break Out. There are always countless BOs waiting to be taken.

Quote from: GeorgeJohn on January 30, 2022, 12:47:52 AM

not everyone likes to hear the prosperity of another

Anyone who does that has the spirit of witchcraft. Whether they argue it or not, that's what they have. Teaching someone how to earn to prosper shouldn't light up jealousy in anyone. After all, the air is too big for every bird to perch. But I get your point. I've also observed that attitude in people, both those around me and those online.

Oshosondy

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Quote from: GreatArkansas on January 29, 2022, 08:10:49 PM

I really like the number 10 lesson, which really talks about consistency and dedication, this is one of the most mistakes of newbies, they intended to stop after a few trades or don't have consistency, and keep complaining.

Because some people left trading is the reason they were able to get successful, trading is not the only way to make it in life, if some people were dedicated and continue to lose and leave it for holding or others part of life that can make them successful, there is nothing bad to leave trading then. That is why new traders are advised to use the amount of money they can afford to lose for trading, so at least if they lose, it won't be much and if they continue to lose, they can decide to continue to trade or not.

Quote from: cabron on January 29, 2022, 11:35:29 PM

Crypto trading is very different to learn compared to the forex market where there are free trading strategies to be used immediately by newbies and then from there they can just learn how the market works. The Crypto market is different where traders learn from scratch while the project teams can be hostile to their investors as well.

You have said it, best for new traders to trade bitcoin instead of altcoins that can easily liquidate their money. Some altcoins can be manipulated also in a way if not favoring the direction of traders, it will cause money used for the trade to finally be liquidated.

Quote from: Zilon on January 30, 2022, 05:27:31 PM

I strongly buy into 4. And 8. 4 which states the best indicator that could be most reliable. Buying at support and selling at resistance is just a secure way to make good profit trading like wise 8 which advices on chasing missed trade it could be too dangerous and could also be a big market trap. Just the same way joining a moving train could cause damages so is the case trying to chase a trade. If you miss it let it go

I do not use indicator, but I can easily know the support and resistance level, like recently the support level for bitcoin is around $38000, it was around $37500 two days ago. But this does not mean the market can not go other way in an extreme volatile market, but this can help many times.

Zilon

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I strongly buy into 4. And 8. 4 which states the best indicator that could be most reliable. Buying at support and selling at resistance is just a secure way to make good profit trading like wise 8 which advices on chasing missed trade it could be too dangerous and could also be a big market trap. Just the same way joining a moving train could cause damages so is the case trying to chase a trade. If you miss it let it go

CryptopreneurBrainboss

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Quote from: cabron on January 29, 2022, 11:35:29 PM

Crypto trading is very different to learn compared to the forex market where there are free trading strategies to be used immediately by newbies and then from there they can just learn how the market works. The Crypto market is different where traders learn from scratch while the project teams can be hostile to their investors as well.

Obviously, the forex market has been around for centuries and the crypto market is barely just over a decade old, not just speaking about the creation of Bitcoin but when crypto trading became a serious profession that one can embark on for daily earnings. With time the crypto market will catch up and all there's in forex like the free trading strategies etc will be available for crypto currency. For now everyone is just experimenting which is why any guide out there shouldn't be followed blindly as they are usually just personal opinions and not proven facts.

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10. Give yourself time to learn the art before you expect profits from it. 3-4 years is a rational time to. Learn a new skill. Remember this.

From all that have been said, this is the part that caught my attention the most, Time is a very powerful factor as with it you can accomplish things you wouldn't have believe to be possible years back. There's no patience in this industry and that's our number one enemies. Those who have understood the significance of time have profited the most over the years and we should learn that as well if we want to succeed. Don't be in a rush to make money you'll probably squander, give the learning process time to master the skills.

pinggoki

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To everyone who wants to follow this, you still need to be careful. This lessons isn't a one and done solution for all of your trading problems because your situation will always be different than any other people, and it's the same thing for them. No matter how sound this lessons are, it might not be applicable to everyone at certain situations.

GeorgeJohn

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Lol..it depends on the individual, their is some people who are good in cryptocurrency and mostly in trading department when you wants to share the knowledge of crypto in order to upgrade yours or impact on them, they resist, Yes it nice to extend your information crypto trading to the neighborhood, but before done that you have to know the caliber of individuals in cycle because not everyone likes to hear the prosperity of another, even though you're in same business line....i know in cryptocurrency industry what really scale many people through is vital and cogent information's like this trading informations you render and good trader will absorbed most of the information, except it's newbies that will fine it very difficult to comprehend what you have narrated so far.

cabron

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Crypto trading is very different to learn compared to the forex market where there are free trading strategies to be used immediately by newbies and then from there they can just learn how the market works. The Crypto market is different where traders learn from scratch while the project teams can be hostile to their investors as well.

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10. Give yourself time to learn the art before you expect profits from it. 3-4 years is a rational time to. Learn a new skill. Remember this.

It takes time indeed and after years you are still in a training session. It would take a lot of time and perhaps just trading in BTC alone will be the best thing to do than going to altcoins.

GreatArkansas

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Quote from: The Cryptovator on January 27, 2022, 02:54:39 PM

(.....)

Source: https://twitter.com/EmperorBTC/status/1486348522408808457

@EmperorBTC is one of my favorite traders on crypto Twitter who is really kind for giving free trading lessons or advice.

I really like the number 10 lesson, which really talks about consistency and dedication, this is one of the most mistakes of newbies, they intended to stop after a few trades or don't have consistency, and keep complaining.

AakZaki

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Quote from: hugeblack on January 28, 2022, 08:42:15 AM

I've always thought that trading is like learning to ride a bike or to drive a master, you can listen to hundreds of good advice, and thousands of hours of videos but unless you practice it you won't be able to do it.
The tips are good and should be applied, but the practical skill in trading, making a good plan, managing emotions, etc. needs practical practice.
~snip~

Doing everything you write down is probably the perfect trader. It will be difficult for beginners or most people. But I think the advice given is very good. Although I know many traders may not be as detailed as what you say but can maximize their profits. Everyone has strategies and alternatives, maybe for new members the advice is very useful. That's why they had to try, after that they would certainly find a way that suited the level of ability he had. So I don't think there's a need to be rigid we just need to try and find the best and comfortable thing for us.

palle11

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Quote from: Oshosondy on January 29, 2022, 03:44:52 AM

I prefer to trade ones in a day, I looked for top for short or bottom for long. I trade twice or ones on a day, but I prefer ones, I only enter second if I know profit will be possible.

Still trading is very risky.

Of course trading is risky.

I understand what you mean here, trading the top and short. This is good but it takes someone with patient to wait and get the spot. Most of the time this is good because it gives a chance for faster retracing or correction profit. Usually trading while the market is just beginning to move is also good because you can have better profit. Is just about the trading skills and preferable time to enter.

crwth

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All of the listed lessons are something that should be absorbed by everyone who tries to do trading. Most of it is also applicable to other aspects in life, maybe in business or in academics. It just knows that you are risking something to gain something. In that way, I think you would be able to grasp what you intend to do.

I think this should be taken in a way that you added this information to yourself and applied it to how you feel it would best fit achieving your goals.

Oshosondy

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Quote from: The Sceptical Chymist on January 28, 2022, 01:55:33 AM

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7. There's just one secret to trading. Keep clicking. Trade a lot. Risk small. Take a lot of bets and keep doing it. The more you trade, the better you her marinated and ready for the market. This teaches patience, planning and bring skin in the game. Trade a lot.

Uh...OK. That sounds like a recipe for losing all your money, but hey, maybe this Twitter guy with the sage advice knows what he's talking about.

When I traded a lot, I lost a lot. I do not understand the guy, he said trading a lot and be patient. If trading a lot, a little loss will set poor mindset to lure someone to trade more and lose more.

That is my own opinion

The guy is self centered and saying it the way he is doing it. For example, which I will never follow because I do not have time, the little trades I do always take time than me to watch the screen and see how the market is fluctuating. The guy meant little fund to be used, like 15 minutes trading. But this strategy was a failure for me. I can never do it again.

I prefer to trade ones in a day, I looked for top for short or bottom for long. I trade twice or ones on a day, but I prefer ones, I only enter second if I know profit will be possible.

Still trading is very risky.

passwordnow

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1 is true and that's why I've taken profits when it's just about to reach the ceiling. I was too quite early when I've taken profits but that's sort of regret if I've just waited a bit then the profit would be higher. But that's it, I've just learned that I've never taken much profit during 2017's bull run and I've just got to secure my profit during this recent bull run. Fulfilled, satisfied but also a little bit disappointed since I've missed more profits. That's go by the saying that "profit is profit" and never be greedy at all.

Peanutswar

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One of the major issues once making a trade is the decision making because even though we are knowledgeable with the trading at the end of the day trading decision is the hardest way like still holding your position like taking profit and stop-loss this is the part when sometimes we are greedy and too much hoping for a single trade. Still the best way is to stick to the trading plan as possible avoid getting carried by the emotions.

mardaed

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I second @hugeblack, practical skills must need practical practice to be developed. It is true that this tips are just basic and general, but still, it serves its purpose on reminding and impart information to us. But going to its practicality, it would be proven and tested by actually practicing it. Whereas, after doing do, the mistakes and lessons gained from such will be taken into consideration to the following trading moves, and strive to do better.

hugeblack

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I've always thought that trading is like learning to ride a bike or to drive a master, you can listen to hundreds of good advice, and thousands of hours of videos but unless you practice it you won't be able to do it.
The tips are good and should be applied, but the practical skill in trading, making a good plan, managing emotions, etc. needs practical practice.
I remember when I first started trading 2017-2108 and now, the difference is clear even though I haven't read any advice before.

The most important thing I can say is to learn from the mistakes, find out what I did wrong and try to improve it.

Topic: TEN Crypto Trading Lesson. (Read 243 times)