Alright, so i am about 3 weeks into cryptocurrency trading and i can say these three things.
First off, Mindset is everything. As soon as you think you are losing a trade. You can bet your bottom dollar that you definitely will. I have no idea why it works that way... it is almost like your feelings can alter or make a trade. So stay positive ALWAYS. Have a mindset to never lose a trade. Matter of fact...i decide i'm losing no trade as newbie as i am. I just won't lose a trade instead i convert my 'losing' trades to long term investments. Or worse case scenario i break even. Lose the fear of Losing!
Secondly, understand what works for you. Understand what tools will make you an expert trader. If understanding tools like the moving averages, the Relative strength Index(RSI) and a host of other complications is what will help you choose a winning trade then by all means understand them. Personally, i examine the Moving Average Convergence Divergence (MACD) Indicator along with the RSI indicator. I find them useful for chart reading. For mobile i utilize the TAB Trader to view these charts and use the indicators for free.
On the PC, Coinigy is an excellent tool for chart reading. Never complicate your charts...Always keep them simple.
Thirdly, invest in a mentor. Find someone who gives expert advise on cryptocurrency trading. Find them and follow them. Enroll for their courses if they have any. Watch their YouTube videos if they have any. Join their groups on fb. Find quality communities to join to improve your knowledge on trade. You must constantly arm yourself with relevant information.
Amidst all the information keep it simple and you must trade to become a trader. Your understanding of Each trade and the outcome makes you a better trader.
That's all folks ;-)
Cheers
And don't forget to read "The Most Important Thing" about investing.
I will take a look....thanks
Wow
There is something mesmerising about this post.
I totally connect with you.
Thank you
Hey thanks Dude! I appreciate!
cheers...
I always follow back
Especially not losing the money while in the process of making money in trading that's the biggest step we need to take to cash out profits from trading.
so true ...I completely agree! Losing the fear of losing money also is another big one
yes you are right .. trading is like gambling we can play this game with spare money