Topic: What should I learn to be a professional trader? - page 4. (Read 2150 times)

Professional traders do not look at the price that may take long or not but they start buying products of high potential that can generate huge profit in future. Similarly in the crypto world there are many coins but the Bitcoin has high potential to give us huge returns. Patience and right placement if you learn then you do not have to worry about your trading but only wait for your profit.

Well patience should already be high in the list of attributes for a decent trader though you can only really learn that through experience a lot of good practices stem from it like emotional control. And i don't think reading charts guarantee a favorable result all the time, but knowing how to will help in your analysis. There's a lot you can learn just browsing through the past subjects in the forums.

I do see the difference, YouTube videos are fine if that is the way that you like to learn, but the amount of information that you are going to be exposed in a book is greater than anything that you can watch in a video, not only that, it is way faster and even better you can take notes as you are reading the book and this makes learning easier, so I still recommend books over watching videos if you want to learn how to trade.

You just need to be patient everytime the market drops. It's not easy to be a professional trader and you cannot learn it overnight. Also you should be careful in monitoring the price of each coins to avoid fatal loss.

What is the difference between amateurs and professionals? Amateurs are people who do something when they can, they have other primary activities, professionals are people who are doing something everyday, they live from that money. You can be good in anything, in trading too, but to be professional you need to have a lot of time dedicated for activity you chose. Trading is the same, like you go to the work 8 or more hours you can spend same time in trading everyday, to learn and advance, and with time you will be better and better. If you don`t have time for some activity you will be amateur in that. You need to learn a lot to be better in everything, you need to practice a lot to be better in everything, you need to spend a lot of time and make a living from activity to be professional in that.

You must see how the current market conditions are, when the market is not good, determining the attitude of being a trader must be determined carefully. You must be smart to manage your assets as a trader and always get profit. Being a trader is actually easy to do but many things must be considered.

And I think what you are learning is correct, even I advise you not to read further the analysis of the professional traders, you should only study the analysis and the most basic trading because in my opinion, each one should have a separate path. It should not be duplicated or similar to anyone, and the basis for building that path is the basics and over time, it will grow depending on what we have gone through, that is the method by which I feel we will reach the position of a professional trader

very useful guides. I especially liked the second link.
but I learned to trade myself, I tried to trade on coins received from the bounty.

There are some articles on BitDegree (https://www.bitdegree.org/tutorials/cryptocurrency-trading/), Cryptocurrency Facts (https://cryptocurrencyfacts.com/how-to-trade-cryptocurrency-for-beginners/), Finder is also good (https://www.finder.com/cryptocurrency/trading), Hackernoon (https://hackernoon.com/the-cryptocurrency-trading-bible-43d0c57e3fe6), and TheBrockBackPacker (https://www.thebrokebackpacker.com/investing-in-cryptocurrency-trading/). But to me, trading is 10% of skills, 10% of luck, 10% of patience and 70% of emotions.

It's very good that you started to study the information. Now for you it is difficult, but eventually all the information in your head will fall into place and you will easily use it. As you study new information, you will have new questions. Look for answers to them on the Internet. Be patient. It is not necessary to think that all traders have become educated and successful very quickly, this is not so. Each of them spent a lot of time teaching and practicing.

1. Begin learning the basics of trading with the study of technical analysis. Here you can use the video (YouTube) and read the materials on the internet. You should know that technical analysis is suitable for any markets, so if it is considered in the Forex market, then it's not scary, you just need to understand the essence of technical analysis.

2. When you begin to understand what is technical analysis and how to work with it, then you can begin to practice on small amounts of money. Later, when you become more experienced, you can increase the purchase amount. Experience is a very important part of learning. Without experience, you can't become a successful trader.

3. Further I would recommend to familiarize yourself with trading indicators (this is an important analysis tool in the work of a trader, which is indispensable in forecasting price fluctuations. Experienced traders use a large number of indicators to obtain more accurate data for entering the market.They help in drawing up a correct forecast of the behavior of prices currencies for a certain period of time).

4. Also get acquainted with the fundamental analysis. This is an important component in forecasting prices.

5. I would also like to recommend studying candlestick analysis. This is a very interesting kind of analysis that helps to assess the market and make predictions based on the shapes of candles or their combinations (patterns).

If you want to become a successful trader, then please don't be lazy. Learn all the information I have offered. Yes, it will take a lot of time, but it's worth it.

Good luck to you!

If you want to be a professional cryptocurrency trader so you need to more knowledge about cryptocurrency market. If you see recent market price of altcoin market so you can understand this market setuation. It is very important to follow cryptocurrency news. Without altcoin knowledge you can't be a professional cryptocurrency trader. Always remember altcoin market and if you analysis coin price then you will be professional trader.

Being a professional trader real traders will always look positive and will not sell out in low market as panic selling etc. they hold for a long time so as to make high profit, now you will see that many people sell for little profit which  has direct affect on the price. You should strictly obey the basic market rules and also you have to learn and practice how you will make decisions in different occasions.

Its not enough to read about candlestick. You need to read more materials and also, you need to practice more and also, its good to get yourself a great mentor as well that can teach you how to trade

First of all, you should recognize that it is really difficult work. It is really WORK! Not hobby! First of all read about cryptocurrencies, principals of blockchain work. Secondly find exchanges where you are going to trade (for example Binance, Bittrex, Kucoin, Bitfinex and etc). Thirdly learn about technical analysis, fundamental analysis and indicators. Making this you will create your own trading system. Also you have to identify what kind of technical analysis do you want to learn. For example I like to learn about techniques which can help to calculate days of trend reversal and levels of resistance and support, like techniques of William Gann, Bradley Cowan. Someone is based on classical prediction - Elliot waves, someone on the mathematical model - nonlinear fractal analysis, but there are also those who trade on the indicators. It up to you what to choose to learn.

Two ways. If you want to go through academic or any academic help then need to prepare thus way. At first need to read finance and go to a business school, Train at brokerage firm, Get your licenses, Register with FINRA, Then go from analyst to associate. Step by step in a row. If you want to learn in a simple way then just acquire those qualities which are essential for successful trading or to be successful.  That’s all.

I think, experience is the best teacher to be a professional trader because with a lot of practice you will know about trading and have experience that can be a consideration for further trading

learn about RSI and its combination with MA and EMA indicates .it will be useful because Relative Strength Index alone is not very powerful tool in determining the trend and momentum but when it is combined with indicators like Moving Average(MA) and Exponential moving average then it becomes really powerful and can give a lot of information about the market. It doesn’t matter what stocks are we trading whether its a forex trader or a crypto trader, all traders makes use of RSI and its combination with MA and EMA with different periods. 

I do not see here any difference. The books are good but sometimes, you do not have the time to read them thoroughly. Find a channel about the crypto, something like this one:
https://www.youtube.com/watch?v=000UtKtm7kU

The problem with learning from the Internet is that while it is full of useful information is also full of useless information that is not only not going to make you money but that is going to make you lose money, so it is better at least at first to learn from a good book about trading, that way you know that you are dealing with reasonably good information.

At first you need to distractions and focus about what you actually doing. Set your mind all for trading. Never waste screen time. I mean you should not sit your chair all day long. Pick up the time only when you can make good profit. Never make yourself overconfidence after winning a streak. Same opposite when you make lose. I mean never loss your confidence after a losing streak. Lose is lose, never take it personally. Never think that that lose make you so disable that you can’t move. Never try for overcome. Don’t try for make profit in overnight.  That’s all.