Topic: What did you learn about crypto trading? - page 15. (Read 2285 times)

It really does.

Newbies and people that don't know a lot about trading, they'll think that it's an easy money making machine. Because all they see are the winning trades.

But they don't know the losing streak that traders came before winning.

Not surprised about it as a former newbie back when I was day trading. Watching tutorials in Youtube kind of made me think that day trading is a really fast process to do and would be just a cakewalk. Turns out I was wrong. I know I wouldn't be earning that much, since it is obvious that the market isn't just bullish nor bearish within 24 hours.
The sole thing I learned is that luck would sometimes need to be in your side when you trade. I still recall trading coins like ADA in pair with ETH, and more coins that I cannot really recall and it just didn't work out for me even though I watched the whole tutorial in a single Youtube video even though I know how to use each indicators like the Bollinger Band, RSI or even both of those in combo.
Day 2, I earned a little bit but I stopped from exhaustion. Day trading isn't really for my time schedule or daily routine, so I stopped.

Trading is to earn money for that we need to have lot of knowledge which will come along with the experience. We can't say a fixed time frame for everyone because some can learn it quickly and some others maybe lot slower but keep continuing will end in a good result, one thing everyone should remember is " Learn from your mistakes".

For me personally, what I have learned from crypto trading is mental education to be patient and not easily emotional. Regarding knowledge, of course, there is no need to talk about it anymore because for me personally, to get into crypto trading, the stage is to learn all things related to trading.
The most important lesson remains on educating mentally so that you are always in good control, not being carried away by emotions from market turbulence, educating to stay consistent, stay disciplined and not easily influenced by things that can destroy crypto trading. Always put forward the search for information about crypto news as well as the most important provision that cannot be missed.

To probably not do it? Kidding aside, it has made me realize the value of money and the fact that trading kills you of your wallet quite fast. I've learned how to manage my losses and how to allocate my budget for my assets as well as how to manage them properly (I hope I am doing this properly). Pretty much learned all the hard facts about trading and about losing money. I've long left trading and just started hodling since, after almost a year of trading, I already realized it wasn't for me.

I find this part of your post interesting because many new traders don't understand that trading is not easy, they may have seen people living good life from trading profit but they don't know the amount of time that have been invested into it including capital. It is better with trading as you gain experience, experience in trading comes with losses. Almost every trader that has been in it for long has a tale of losses to say and that builds more experience because as you make losses you look at the mistakes. For example like you say, not knowing when to enter a trade or when to exit is a form of mistake and experience that has changed trading pattern of some traders, that aspect of trading is very important.

Very correct that to become a successful trader, you must well understand entry and exit of the market, but saying that trading is much like gambling is very incorrect to me because though they have similarities to an extent, their differences are still vast. For proper understanding, there's an extensive article that details the differences here , It will be of great benefit to you and any other who takes out time to read through.

Trading crypto is more like a gambling on a soccer game where there is obviously no sure odd and even the less probable thing can happen like a smaller team beating a bigger team. So anything is likely to happen to your money. As the market is usually not stable you can earn profit and equally run at loss depending on market behaviour at the time. Its usually safer when you study the market and do a proper research but your success is not guaranteed. Alot people think crypto trading is where you make quick money and fail to understand there are factors guiding it. I think timing is an important factor, we should know when to enter into the market and secondly, when we are making a profit we should get our capital out and not be too greedy

there are many events around us, especially our friends who want to learn trading, because they see us living comfortably with trading, and their question is the profit they get. from that they were wrong in the first step, their expectation was that trading was an easy way to make money in a short time. if they are determined to enter the world of trading, then regret will come to them. learning to trade is a process, and we are tested many times from different angles

I learnt trading mainly from watching my parents on stock markets. Both of them were very much involved in trading and learnt the lingo mostly there. I got into stocks after I was responsible enough to handle money on my own and have done well on that and now I am also into cryptocurrency apart from a daily job.

How I did learn about crypto is through reading charts and watching the markets move on the basis of older S/R levels and news about crypto. I am still learning and it is evident that learning this has no end, only how much you can muster.

Simple things my folks taught me, not to be greedy and being honest about your mistakes and correcting them have helped me a lot in avoiding scams and decision making.

Managing the funds will also be important as that can relate to all of your funds that will be used for trading. If those people think about making fast money from trading, they are wrong because not all of the time the crypto market will get bullish but the bearish will also come to them. What I learn from trading is always prevent to buying all-in at once because that will not guarantee me to make a profit instead I can lose that money at any second. I also still trying to learn more about analysing the market which I think will be a long journey because the market will always change day by day. The next thing we should have does not greedy when we see the profit and get your profit while we can because the coin price will not always be at the highest price.

For me crypto trading is not only about knowledge wherein it's for those people who can control their emotions and of course have respect on their self ..Because that's the common problem of some traders especially beginners, at first they'll have a good win rate but after all they're losing too much and always wondering why it's happening after all. Lol  without knowing they were changed a lot because of greediness, .
Actual I'm not an expert but for sure most of the traders  and even those successful traders nowadays experienced the same situation when they were new as well. So i can say that before entering trading make sure to remember these 3 words.. Respect, discipline, don't bring your "emotions" when trading . Because thats the common problem why there are still some traders that can succeed after all.

Trading is not just to earn but also to learn. If you have learned about markets and traded them for over two years, I believe you have a lot of experience and you have learned a lot about it. Trading can be a deceiving profession because you can earn a lot through this and it could change your living but don't forget the fact that if you do not spend the time to learn, you’ll just waste a lot of time and money.

Sometimes newbie in trading  have the wrong mindset. They are just trying to make money as fast as possible, because they think trading can make them rich quickly which is definitely wrong perception.

During the time I started trading in crypto, I didn't think of making huge money instead I was thinking how to trade successfully and how to avoid losses so that I can keep my small capital secured. In other word, I was afraid of losses. Spending time to learn and understand technical analysis, the trading view platform,and a market as a whole has shown me that making a living and earning good profit is possible in crypto market.

I've also learned that Trading is not an easy money machine. It always need your time and effort and most important you have a lot of knowledge, strategies, patience and self discipline. If you are able to enter, you should also determine your trade exit.