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Topic: Which knowledge is important for crypto trading? - page 16. (Read 5180 times)

legendary
Activity: 2100
Merit: 1058
First of all, an mind to observe the market moves is a must, next thing is the patience to keep hold of it and involve into buying or selling of assets at the right time. Another thing is a mind that can accept loss as well wins and should possess self control, because price fluctuations happen quite often during which should not get into panic and make wrong decisions.
You don’t just seek a particular knowledge in trading, you seek all, everything that it will take for you to become a professional and benefit from trading. You need to be studying every market you show interest on, try to know everything about it and you can be able to tell when it’s in demand, when it will rise and when it will fall.

Know the right type of trading chart to make use of--- especially candlesticks, and the right time to trade. There are lots of things to learn, I’m not a teacher, these are just the basics.
full member
Activity: 560
Merit: 101
It is important to know the basics of crypto trading first to learn the dynamics, then the strategies. You can achieve these by learnjng theoritically and practice. At first you will experience failure but remember that from these failures you will learn snd develop your skills in trading.
legendary
Activity: 1232
Merit: 1029
Wow, I thought studying about charting and basic trading is already enough. Thanks for the tips you guys posted, this thread is really helpful. I wish I could master the skills that would fit my trading style. Thanks!
Reading or watching tutorials is a really good start, but it's very important to get some hands on experience too.
Start trading with little amounts and pick coins that are volatile (big price swings), you'll get a feel for the market and can apply your strategies immediately.

Also don't forget to make a log of your strategies and the profits or losses it generated.
There are services that offer this automatically though Smiley
Most people who have skipped that first part you have mentioned always have themselves to blame at the end.
It is very necessary to read and learn, which is where one would get strategies from, understand how to monitor and do a quick scan of a chart to make decisions and also be able to make buying, selling, profit and loss decisions.

Logs are really very good and they help a lot for cross referencing, which is what a good trader should always make use of.
sr. member
Activity: 938
Merit: 251
There is no silver bullet here. What you don't know, you don't know. I think you may have to spend some time and money to educate yourself about crypto currency. Lean about blockchain, bitcoin, Alternative coin and trade with little money that may help you learn how to trade in the future
newbie
Activity: 25
Merit: 0
Other than Twitter, what are the suggested best trading chat groups to join?

Also to the OP, it’s critical to know when to cut your losses, and know when to take your gains. If you find yourself wishing or hoping for a particular movement during a trade, you’re on your way to a quick loss. The factors and signals that get you into a trade and the stop losses/limits you set for yourself to minimize risk aren’t based on emotion. They’re based on research and analysis and you should be so confident in them that you’re willing to risk your money based on that confidence. Trades will turn against you despite your experience but as they do they’ll ALWAYS cross your stop first. Respect your money.

One word is MOST important in trading: Discipline.
member
Activity: 246
Merit: 10
Making a decisions in trading is very hard for us. specially for those people who can not control their emotions. The best thing you can do is research and read about trading to get some tips.
full member
Activity: 336
Merit: 100
It is very hard subject to know about crypto trading.Yet If you caught some technic then I think you know some ways to easy about crypto currency.Always see crypto news and follow twitter and telegram.It is very helpful for know crypto trading.
legendary
Activity: 2758
Merit: 1228
open a twitter account, follow some good guys in that space. do not buy whatever is shilled in that space. take note of the mentioned coins, check out their Github and ensure that their is an activity. ensure it has a low supply. then you keep buying the dip ( buy the silence on crypto twitter and sell the noise). these has worked for me since the month of May 2017

How do you monitor noise/silence? I think this is one of the best ideas I've heard for a while.

The noise about the coins is one of great indicator to us to see if the coin is pumping and if there are so many people ranting and pointing for the coin who's moving up for that moment then maybe you can join with them and earn for short time. But be careful since if there's a hype pump comes the dump scheme will be follow on that and make sure that you wouldn't be left holding or else you will bag hold that coin for long time period.
full member
Activity: 602
Merit: 100
I think what important knowledge is the use of any cypto if it can change anything that what we have right now because most of them are claiming they are trying to solve a problem that does not even exist so we will know if that coin is good for trading or not.
member
Activity: 73
Merit: 10
open a twitter account, follow some good guys in that space. do not buy whatever is shilled in that space. take note of the mentioned coins, check out their Github and ensure that their is an activity. ensure it has a low supply. then you keep buying the dip ( buy the silence on crypto twitter and sell the noise). these has worked for me since the month of May 2017

How do you monitor noise/silence? I think this is one of the best ideas I've heard for a while.
full member
Activity: 448
Merit: 100
It is really not easy way to know about crypto trading.Because crypto market any time fluctuate.So If you know better about crypto trading then you follow order book, Buyer quantity, seller quantity and daily candle bar updown quantity.Although it is not perfect way or better way but i hope you will known something.Moreover follow crypto news in social media and invest your money feel free.
full member
Activity: 220
Merit: 100
open a twitter account, follow some good guys in that space. do not buy whatever is shilled in that space. take note of the mentioned coins, check out their Github and ensure that their is an activity. ensure it has a low supply. then you keep buying the dip ( buy the silence on crypto twitter and sell the noise). these has worked for me since the month of May 2017
legendary
Activity: 2170
Merit: 1427
if you do not have any trading experience at all, Maybe you can follow the trading signal from a trusted trader master, or follow a trusted group in social media,  trader is not an easy job, you have to learn a lot from experienced traders

No serious trader will ever bother to provide noobs advice aside from a few tips here and there, and that's if that person knows you. If you actively search for "experienced" traders, you mostly end up with idiots selling you guides/tutorials with information that can be found freely by using Google, and the worst of all is that it isn't of value to starters at all. If you can't figure out the basics yourself (without paying for free to find information), you'll never be able to come anywhere in this market, and that's a fact.
hero member
Activity: 2688
Merit: 540
DGbet.fun - Crypto Sportsbook
if you do not have any trading experience at all, Maybe you can follow the trading signal from a trusted trader master, or follow a trusted group in social media,  trader is not an easy job, you have to learn a lot from experienced traders
Learning or getting some ideas on experienced traders is just a plus not totally making yourself dependent on them since we do have different styles on doing trading which we would able to identify our trading style along the way.Yes, its not really an easy job since it would really require time and hardwork for you to be able to get the right way on how to do it and making it profitable as we can.
sr. member
Activity: 812
Merit: 257
if you do not have any trading experience at all, Maybe you can follow the trading signal from a trusted trader master, or follow a trusted group in social media,  trader is not an easy job, you have to learn a lot from experienced traders
copper member
Activity: 463
Merit: 251
It is up to you to study the depth charts, order books, candle bar charts, daily trading volumes and news cycle to discern the patterns. The price is a composite of this and the psychology of people who don't understand this. You will learn more about day trading this way and more importantly learn to trade/invest independent of the price.
hero member
Activity: 644
Merit: 500
I already started crypto trading. But i cannot understand how to get profitable in crypto trading. How to understand which coin is the best for buy. I don't know how to become successful in crypto trading. So guys, please tell me which knowledge is important for crypto trading. Thanks...
Before start crypto currency trading you should know details of coin market. we suggest at first you analysis coin market then you chose coin which is very ups and down. coinmarketcap you can use for you coin analysis and you must note down which coin and how many movement in 24 hour then you can buy .
yeah that's the right basis in terms of checking history and how the coin performed, you will be able to catch some anticipation as you assess whether the project has been supported or if its just a pumped and dumped project, you can always check the actual movements in terms of days , weeks or moths in
order for you to make any decision supporting the said coin.
full member
Activity: 742
Merit: 100
I already started crypto trading. But i cannot understand how to get profitable in crypto trading. How to understand which coin is the best for buy. I don't know how to become successful in crypto trading. So guys, please tell me which knowledge is important for crypto trading. Thanks...
Before start crypto currency trading you should know details of coin market. we suggest at first you analysis coin market then you chose coin which is very ups and down. coinmarketcap you can use for you coin analysis and you must note down which coin and how many movement in 24 hour then you can buy .
hero member
Activity: 3164
Merit: 675
www.Crypto.Games: Multiple coins, multiple games
You have to know the cryptocurrency marke, the trends and to predict the future development. I think these are very important things and you can come to that by lot of research and practical experiences. You can't become successful trader over night and there is no receipe how to do it. Probably you will learn the best on your own mistakes but it would be good that they are not to expensive. So not to many theory but lot of practice.
Understanding the market is a very important thing, most especially for each coin one may want to add to his or her portfolio. However, all these does not come without learning, cause the only way to understand the market is to understand how trading is done itself, which would help you to know which coin you want to add to your trading portfolio or not.

I do not deal with much coin; I only look at the possibilities of a coin always doing the trick for me, rather than trying to cut through the whole market, considering the number of altcoins.
hero member
Activity: 1036
Merit: 500
I already started crypto trading. But i cannot understand how to get profitable in crypto trading. How to understand which coin is the best for buy. I don't know how to become successful in crypto trading. So guys, please tell me which knowledge is important for crypto trading. Thanks...
If you want to pick the best coin for trading then i suggest picking major coins such as BITCOIN, MONERO, DOGE, etc but if you're looking for long term trading investment then you need to possibly read whitepaper of the token or projects that you have interest in it  Grin
hard research is what you need mate, its not just because most people bought some coins then you should do the same inside trading you need to use analysis
in order for you to select which coin can be profitable in long run, you need to have knowledge regarding to its plan development and what the project will offer for some useful things inside the chain.
There are lot of things which you need to learn in the world of crypto currency. It is because of the reason that the more knowledge you have, more are the chances that you are going to make wise decisions. In addition to this, this will also help you in having a better idea about the trends of the market.

You need to read the articles related to crypto currency and you also need to have an eye on what all is going on in the market.
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