How to Become Consistent Cryptocurrency Trader [Expert Advice]

[Ms.Marry]

1. Be Purpose-driven​

is crucial for you to make clear the motive you have to start a cryptocurrency trade. Trade keeps you motivated because this is not a gamble; for every win, there is a loss in equal measure. What aspect of crypto trading do you want to be involved in? Day Trading? Yield farming? Or scalping? With this in mind choosing a trading strategy becomes very easy because you are goal-oriented.

2. Set Profit Targets​

Set profit targets before you start trading and make plans for when the time comes you have to get out of the trade market. Goals and targets prevent you from being carried away by your emotions, leading to irrational decisions. Please do not get into the market greedy as this is a recipe for disaster, it has you on alert for easy money, and most often, you end up losing.

3. Avoid FOMO (Fear of Missing Out)​

FOMO is one of the most significant reasons why investors fail as they trade in Cryptocurrencies; when you see other investors making profits, you want the same thing. Beware of that moment you want to sell out of pressure; a trade like that results in losses most of the time. Instead, do the research and consider trading platforms and protocols to give you strategic trading algorithms.

4. Learn about Technical analysis and Fundamental analysis​

Technical analysis and fundamental analysis are two trading strategies that have been used since the history of trading and finance. Fundamental analysis studies the overall market and identifies how external assets can affect the current price trend of a particular investment. On the other hand, technical analysis studies charts and graphs and maximizes profits by knowing when to sell or buy.

Combining technical and fundamental analysis is the best option to win in investments for each coin tradable. Make sure to choose the best apps and sites that cover detailed information and make the correct predictions.

5. Stay updated with current cryptocurrency news.​

The crypto market is volatile, and it keeps on changing; yesterdays’ news and predictions could be history today. Keep yourself updated on how the market operates daily, get legit sources for cryptocurrency news, and consider Twitter, Facebook, Telegram, and cable news. Avoid listening to baseless opinions of persons who don’t understand the market.

6. Start Small​

The first rule of investment is to trade what you are willing to lose such that if you make a profit well and good if it does not work out, you are already prepared for loss. When you start small, you can learn basics at a trim level where it’s easy to understand. It also teaches you how to manage failure, take your small wins, and have enough savings before starting trading in cryptocurrency.

7. Practice on a Demo Account​

As ancient history goes, a master was once a student; find ways to learn and practice trade before getting to the real market. A demo account gives you the idea of what you are about to get into; once you are comfortable with your demo account dealings, you can choose a coin and exchange platforms to begin trading.

8. Diversify​

Every investor gets into the Crypto Market focused on trading Bitcoin, and if it doesn’t work out, the results can be detrimental. Once you have figured out how the market operates, diversify your trading opportunities. Trade altcoins with a good market presence helps to mitigate risks such that if one platform does not work, maybe the other will.

9. Watch out for scammers.​

A good trading strategy will not help out if you cannot pick out a fake sale from legit trading. The cryptocurrency market is decentralized in manner, and that means; you have to look out for yourself because there is no judicial crypto system to hold hackers and fraudsters accountable.

Watch out for fake exchange platforms, wallets, and phishing scams that are directly sent to your email address. In addition, the market has Ponzi schemes that operate in pyramid structures and offer you unbelievable returns on your investments.

Spoiler: Source

https://www.europeanbusinessreview.com/trading-tips-how-to-prepare-for-cryptocurrency-trading-expert-advice/

 

[Expertking]

All i learned is Never trade in Fomo and without stop loss. Else you surely never ever successful in trading

 

[BassTrackerBoats]

@Ms.Marry it is tradition around here to cite your source.

I've edited your post to indicate the source.

 

[smurfelina]

A good strategy and experience are the most important things. You can't really read your way to be a good trader. You need to develop a profitable strategy and it takes time and effort to learn the ups and downs of the market.

 

[Sardi]

@Ms.Marry it is tradition around here to cite your source.

I've edited your post to indicate the source.

you're evil



no this is not mod abuse, I am just joking

 

[Ms.Marry]

A good strategy and experience are the most important things. You can't really read your way to be a good trader. You need to develop a profitable strategy and it takes time and effort to learn the ups and downs of the market.

What i just shared were the most Important Steps to become Consistent in any Type of trading. Either it's crypto, Stocks of Forex

 

[cryptoloveralex]

any better course for recommendation for intermediate level trader

 

[BassTrackerBoats]

What i just shared were the most Important Steps to become Consistent in any Type of trading. Either it's crypto, Stocks of Forex

You mean what you just copied and pasted are what you think are the most important steps, right?

 

[Ms.Marry]

any better course for recommendation for intermediate level trader

I would say go with Institutional Trading Course. Bcoz at the end of the end they are only who are market Makers

You mean what you just copied and pasted are what you think are the most important steps, right?

Yes sir !

 

[Dj Co2]

You didn't mention "DCA".

If you're trading altcoins, then never enter with a full position right away, start with 25% of the intended position and then add more as it dips or goes up while maintaining the trend.

For this you do need to have knowledge of moving averages and fibonacci ratios.

 

[Ms.Marry]

You didn't mention "DCA".

If you're trading altcoins, then never enter with a full position right away, start with 25% of the intended position and then add more as it dips or goes up while maintaining the trend.

For this you do need to have knowledge of moving averages and fibonacci ratios.

For sure nobody Has to enter all Positions in one Go either BTC or ALT coins. The position should be opened with Proper Portfolio Management and Risk Management.

For this you do need to have knowledge of moving averages and fibonacci ratios.

I never Suggest Moving averages No, Really, because the Moving average is Just a Momentum Indicators Following the Price Action. & Yes Fibonacci Level is Key for Retracement because their is Most likely Price wants to Retrace

 

[MisterF]

For sure nobody Has to enter all Positions in one Go either BTC or ALT coins. The position should be opened with Proper Portfolio Management and Risk Management.


I never Suggest Moving averages No, Really, because the Moving average is Just a Momentum Indicators Following the Price Action. & Yes Fibonacci Level is Key for Retracement because their is Most likely Price wants to Retrace

I never Suggest Moving averages No,

What about the articles you're copy and pasting from, do they suggest this?

 

[Ms.Marry]

I never Suggest Moving averages No,

What about the articles you're copy and pasting from, do they suggest this?

Dear sir, They Haven't Written about MA and anything at all. And all I sharing this is based on my Own Learning Experience. Thank you

 

[Dj Co2]

For sure nobody Has to enter all Positions in one Go either BTC or ALT coins. The position should be opened with Proper Portfolio Management and Risk Management.


I never Suggest Moving averages No, Really, because the Moving average is Just a Momentum Indicators Following the Price Action. & Yes Fibonacci Level is Key for Retracement because their is Most likely Price wants to Retrace

Go back to your charts again, add 8 and 13 EMA on a 4h chart and then tell me how many times price retraced and bounced from it.

For this, the coin needs to be trending of course, you can't trade using MA's on a choppy instrument.

 

[Mikall]

Great tips, the last tip is of major importance. There are lots of scam on cryptocurrency market, you should definetely watch out.

 

[TraderBane]

The best strategy is to buy significant dips, and sell the bounce and hold the profits for long term

 

[Nikolaos]

1. Be Purpose-driven​

is crucial for you to make clear the motive you have to start a cryptocurrency trade. Trade keeps you motivated because this is not a gamble; for every win, there is a loss in equal measure. What aspect of crypto trading do you want to be involved in? Day Trading? Yield farming? Or scalping? With this in mind choosing a trading strategy becomes very easy because you are goal-oriented.

2. Set Profit Targets​

Set profit targets before you start trading and make plans for when the time comes you have to get out of the trade market. Goals and targets prevent you from being carried away by your emotions, leading to irrational decisions. Please do not get into the market greedy as this is a recipe for disaster, it has you on alert for easy money, and most often, you end up losing.

3. Avoid FOMO (Fear of Missing Out)​

FOMO is one of the most significant reasons why investors fail as they trade in Cryptocurrencies; when you see other investors making profits, you want the same thing. Beware of that moment you want to sell out of pressure; a trade like that results in losses most of the time. Instead, do the research and consider trading platforms and protocols to give you strategic trading algorithms.

4. Learn about Technical analysis and Fundamental analysis​

Technical analysis and fundamental analysis are two trading strategies that have been used since the history of trading and finance. Fundamental analysis studies the overall market and identifies how external assets can affect the current price trend of a particular investment. On the other hand, technical analysis studies charts and graphs and maximizes profits by knowing when to sell or buy.

Combining technical and fundamental analysis is the best option to win in investments for each coin tradable. Make sure to choose the best apps and sites that cover detailed information and make the correct predictions.

5. Stay updated with current cryptocurrency news.​

The crypto market is volatile, and it keeps on changing; yesterdays’ news and predictions could be history today. Keep yourself updated on how the market operates daily, get legit sources for cryptocurrency news, and consider Twitter, Facebook, Telegram, and cable news. Avoid listening to baseless opinions of persons who don’t understand the market.

6. Start Small​

The first rule of investment is to trade what you are willing to lose such that if you make a profit well and good if it does not work out, you are already prepared for loss. When you start small, you can learn basics at a trim level where it’s easy to understand. It also teaches you how to manage failure, take your small wins, and have enough savings before starting trading in cryptocurrency.

7. Practice on a Demo Account​

As ancient history goes, a master was once a student; find ways to learn and practice trade before getting to the real market. A demo account gives you the idea of what you are about to get into; once you are comfortable with your demo account dealings, you can choose a coin and exchange platforms to begin trading.

8. Diversify​

Every investor gets into the Crypto Market focused on trading Bitcoin, and if it doesn’t work out, the results can be detrimental. Once you have figured out how the market operates, diversify your trading opportunities. Trade altcoins with a good market presence helps to mitigate risks such that if one platform does not work, maybe the other will.

9. Watch out for scammers.​

A good trading strategy will not help out if you cannot pick out a fake sale from legit trading. The cryptocurrency market is decentralized in manner, and that means; you have to look out for yourself because there is no judicial crypto system to hold hackers and fraudsters accountable.

Watch out for fake exchange platforms, wallets, and phishing scams that are directly sent to your email address. In addition, the market has Ponzi schemes that operate in pyramid structures and offer you unbelievable returns on your investments.

Spoiler: Source

https://www.europeanbusinessreview....are-for-cryptocurrency-trading-expert-advice/

Cool advice. Now let's ask are you a real crypto trader?

 

[:Raavan:]

You forget to wrote

1. Be Purpose-driven​

is crucial for you to make clear the motive you have to start a cryptocurrency trade. Trade keeps you motivated because this is not a gamble; for every win, there is a loss in equal measure. What aspect of crypto trading do you want to be involved in? Day Trading? Yield farming? Or scalping? With this in mind choosing a trading strategy becomes very easy because you are goal-oriented.

2. Set Profit Targets​

Set profit targets before you start trading and make plans for when the time comes you have to get out of the trade market. Goals and targets prevent you from being carried away by your emotions, leading to irrational decisions. Please do not get into the market greedy as this is a recipe for disaster, it has you on alert for easy money, and most often, you end up losing.

3. Avoid FOMO (Fear of Missing Out)​

FOMO is one of the most significant reasons why investors fail as they trade in Cryptocurrencies; when you see other investors making profits, you want the same thing. Beware of that moment you want to sell out of pressure; a trade like that results in losses most of the time. Instead, do the research and consider trading platforms and protocols to give you strategic trading algorithms.

4. Learn about Technical analysis and Fundamental analysis​

Technical analysis and fundamental analysis are two trading strategies that have been used since the history of trading and finance. Fundamental analysis studies the overall market and identifies how external assets can affect the current price trend of a particular investment. On the other hand, technical analysis studies charts and graphs and maximizes profits by knowing when to sell or buy.

Combining technical and fundamental analysis is the best option to win in investments for each coin tradable. Make sure to choose the best apps and sites that cover detailed information and make the correct predictions.

5. Stay updated with current cryptocurrency news.​

The crypto market is volatile, and it keeps on changing; yesterdays’ news and predictions could be history today. Keep yourself updated on how the market operates daily, get legit sources for cryptocurrency news, and consider Twitter, Facebook, Telegram, and cable news. Avoid listening to baseless opinions of persons who don’t understand the market.

6. Start Small​

The first rule of investment is to trade what you are willing to lose such that if you make a profit well and good if it does not work out, you are already prepared for loss. When you start small, you can learn basics at a trim level where it’s easy to understand. It also teaches you how to manage failure, take your small wins, and have enough savings before starting trading in cryptocurrency.

7. Practice on a Demo Account​

As ancient history goes, a master was once a student; find ways to learn and practice trade before getting to the real market. A demo account gives you the idea of what you are about to get into; once you are comfortable with your demo account dealings, you can choose a coin and exchange platforms to begin trading.

8. Diversify​

Every investor gets into the Crypto Market focused on trading Bitcoin, and if it doesn’t work out, the results can be detrimental. Once you have figured out how the market operates, diversify your trading opportunities. Trade altcoins with a good market presence helps to mitigate risks such that if one platform does not work, maybe the other will.

9. Watch out for scammers.​

A good trading strategy will not help out if you cannot pick out a fake sale from legit trading. The cryptocurrency market is decentralized in manner, and that means; you have to look out for yourself because there is no judicial crypto system to hold hackers and fraudsters accountable.

Watch out for fake exchange platforms, wallets, and phishing scams that are directly sent to your email address. In addition, the market has Ponzi schemes that operate in pyramid structures and offer you unbelievable returns on your investments.

Spoiler: Source

https://www.europeanbusinessreview.com/trading-tips-how-to-prepare-for-cryptocurrency-trading-expert-advice/

You Havenot wrote about Risk and Portfolio Management whichis also Most important in trading !