What is the best method for improving your skill as a trader?

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Hustlebuddy

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In your own opinion what's the next step for someone who has been practicing future trading via paper trading on trading view?

The thing is with paper trading, there's confidence that I know what I'm doing but I'm not sure it would be the same with real money.

A lot of people have recommended just getting into it but starting very small, others that use the same exchange I do have mentioned starting with the trading showdown there, as it provides a "structured environment" for me to test my strategies and get the rewards for the event to boost my capital.

There are people on Reddit that have even suggested that I stick to paper trading till I get enough confidence, although I think it's just sarcasm.
 
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Hustlebuddy said:
There are people on Reddit that have even suggested that I stick to paper trading till I get enough confidence, although I think it's just sarcasm.
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The issue with paper trading is that you will never figure out how you react to potential loss building up on your position. And would you be able to cut your losses while they are there with real money? You can start with small positions.

BTW what type of crypto are you planning to trade?
 
Hustlebuddy said:
In your own opinion what's the next step for someone who has been practicing future trading via paper trading on trading view?

The thing is with paper trading, there's confidence that I know what I'm doing but I'm not sure it would be the same with real money.

A lot of people have recommended just getting into it but starting very small, others that use the same exchange I do have mentioned starting with the trading showdown there, as it provides a "structured environment" for me to test my strategies and get the rewards for the event to boost my capital.

There are people on Reddit that have even suggested that I stick to paper trading till I get enough confidence, although I think it's just sarcasm.
Click to expand...
Start with real funds asap but in the start use small amount of funds only .
 
Hustlebuddy said:
In your own opinion what's the next step for someone who has been practicing future trading via paper trading on trading view?

The thing is with paper trading, there's confidence that I know what I'm doing but I'm not sure it would be the same with real money.

A lot of people have recommended just getting into it but starting very small, others that use the same exchange I do have mentioned starting with the trading showdown there, as it provides a "structured environment" for me to test my strategies and get the rewards for the event to boost my capital.

There are people on Reddit that have even suggested that I stick to paper trading till I get enough confidence, although I think it's just sarcasm.
Click to expand...
Practice is really important and if u can do it in a real acc it would be better imo as u will learn how to trade with slippage / spreads and the real market environment

also always journal after or when u are taking the trade and dont forget to collect data of ur past trades

im not much sure abt crypto futures trading ( not much experience ), but i think still the logics and the things will be same across other markets also
 
Deleted member 1603965 said:
The issue with paper trading is that you will never figure out how you react to potential loss building up on your position. And would you be able to cut your losses while they are there with real money? You can start with small positions.

BTW what type of crypto are you planning to trade?
Click to expand...
That's my fear too, since I'm not putting any real money on the line, it doesn't feel the same at all. At the moment I'm doing futures trading with mostly BTC and ETH, they are a lot more stable and for the trading showdown event I don't want to work with pairs that are extremely volatile, at least not now.
 
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terunoz said:
Practice is really important and if u can do it in a real acc it would be better imo as u will learn how to trade with slippage / spreads and the real market environment

also always journal after or when u are taking the trade and dont forget to collect data of ur past trades

im not much sure abt crypto futures trading ( not much experience ), but i think still the logics and the things will be same across other markets also
Click to expand...
I think it's the same logic, I already trade forex, and I see many similarities, for journaling I use myfxbook, but the thing is I'm not sure there's a crypto alternative.


For the partice thing, in my initial post I mentioned joining the trading event on my exchange, good thing is it started on Tuesday and I intend to follow through until it ends next month. Let's see how it goes.
 
india said:
In paper trading, there are no emotions attached. Or No real feeling of loss.

Start small with real money.
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Yeah, I understand what you mean, and that's what I started doing recently. I'd also like your opinion on what you think is a good starting capital for crypto trading.
 
Hustlebuddy said:
In your own opinion what's the next step for someone who has been practicing future trading via paper trading on trading view?
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Begin with a small amount of capital that you can afford to lose. This will help mitigate emotional stress as you adjust to live trading
 
Hustlebuddy said:
I think it's the same logic, I already trade forex, and I see many similarities, for journaling I use myfxbook, but the thing is I'm not sure there's a crypto alternative.


For the partice thing, in my initial post I mentioned joining the trading event on my exchange, good thing is it started on Tuesday and I intend to follow through until it ends next month. Let's see how it goes.
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That's awesome ! for Myfxbook alternative being honest i havent looked at much for crypto but check out tradezella, they offer you a journaling service it's really good from what i have heard or if u want to use a free alternative the all rounder notion would be really good

that's a great way also, let me know how it goes i hope everythings goes good for you brother inshallah
 
Try looking into TA strats, there’s a couple very knowledgeable guys on YT sharing nice strategies - Ben Cowen being one of them.

In the end they’re still rather risky plays because even with all the TA there’s no certainties because past performance doesn’t necessarily mean future guarantees.
 
You need to start with real money so that you can feel and control the emotional part of trading.
 
Real trading's all about risk management, start with a tiny amount to get used to the pressure.
 
PayTools said:
Begin with a small amount of capital that you can afford to lose. This will help mitigate emotional stress as you adjust to live trading
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Okay, in your opinion what is a good starting amount?
 
terunoz said:
That's awesome ! for Myfxbook alternative being honest i havent looked at much for crypto but check out tradezella, they offer you a journaling service it's really good from what i have heard or if u want to use a free alternative the all rounder notion would be really good

that's a great way also, let me know how it goes i hope everythings goes good for you brother inshallah
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Thank you very much, I really appreciate this.
 
nyuse said:
Try looking into TA strats, there’s a couple very knowledgeable guys on YT sharing nice strategies - Ben Cowen being one of them.

In the end they’re still rather risky plays because even with all the TA there’s no certainties because past performance doesn’t necessarily mean future guarantees.
Click to expand...
I started watching the secret mindset on youtube, do you know this account on YT?
 
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