Altcoins Talks - Cryptocurrency Forum

Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: alltalk on October 04, 2018, 10:12:23 AM

Title: Some Fundamental Things to Know by Traders
Post by: alltalk on October 04, 2018, 10:12:23 AM
Some Fundamental Things to Know by Traders

(https://i.imgur.com/HrFaob4.jpg)

Trading has its own risk if we don't understand about it. So, we have to learn some things to avoid it and be succesful. To be succesful in trading, at least you must learn more about your personality, trading style, and strategy. Here, I will explain it in short about them. I got the information from some sources and added my own view in some parts.

1. Personality + Trading Style.

You should know about yourself firstly before you think the right strategy to use. Every trader has his own typical trade. Trading style: Day trading, Position trading, Swing trading, or Scalping. It will be much better if you know your characteristics. In addition, a trader must be mature and wise in deciding everything towards his trading activities. Don't be a panic trader, it will harm you.   

2. Strategy

Strategy is also important. You should not do any ways to trade your tokens. Choose the best strategies for the current market trends.
 
~Learning as much as possible
You can google to know more everything about crypto trading. Various knowledge regarding cryptocurrencies, blockchain, and market will help you to improve your ability in trading.

~Following crypto experts and update news
You will get big advantages by following the information from experts and many sources about update crypto news. You will know best timing for selling or buying by following these. Moreover, you will gain more knowledge and experiences.

~Analyzing your holding coins or coins you want to invest
Do not invest in any coins that you don't really understand and know well about it. You must analyze the potential of every coins you have. You can classify them into some categories. For long term holding or short term holding.

~Installing a price ticker 
The price ticker can alert you whenever the price fluctuates. That is why, it is better to install on smartphone. Depending on the price, you can make wise investment decisions.

~Trading bots
You are better to start using a trading bot with API enabled will help do the trading. For amateur traders, it is one of the best cryptocurrency trading strategy.

Note: After reading some points above, you can give your suggestions or comments for a better quality of this thread. Thank you.

Sources:
https://www.investopedia.com/articles/active-trading/11/four-types-of-active-traders.asp
https://seo spamnews/top-12-cryptocurrency-trading-strategies-best-cryptocurrency-trading-tips
Title: Re: Some Fundamental Things to Know by Traders
Post by: xeroz on October 04, 2018, 04:09:19 PM
These things must be considered by all traders in order to get the success in crypto trading. You explain quite detail on the thread above. Well, I don't apply all the strategies you stated on the thread, It is very complete. I just do 3 things for my trading: learning more, update crypto + market news, and studying the potential of coins. I may consider to use the rests on your list above. It seems very interesting to use. 
Title: Re: Some Fundamental Things to Know by Traders
Post by: Zed0X on October 06, 2018, 10:30:41 AM
This is good. Definitely agree that each trader has their own style and newbies should understand this as well. There's a tendency that starters would follow advice from a lot of crypto twitter influencers and end up getting confused from their different teachings.
Title: Re: Some Fundamental Things to Know by Traders
Post by: xeroz on October 10, 2018, 12:39:42 AM
Quote from: Zed30 on October 06, 2018, 10:30:41 AM
This is good. Definitely agree that each trader has their own style and newbies should understand this as well. There's a tendency that starters would follow advice from a lot of crypto twitter influencers and end up getting confused from their different teachings.

Yes, I agree with you. Newbies should understand it as well and get more sources to have adequate knowledge before they start trading. 
Title: Re: Some Fundamental Things to Know by Traders
Post by: Alter on October 10, 2018, 09:33:22 AM
I know about personality and strategies are the big factors that influence the success in trading. It is true, I see many people lose their investment because of bad personalities. They are panic and not patient, they sell all coins / token and quit from crypto world. 
Title: Re: Some Fundamental Things to Know by Traders
Post by: alltalk on October 13, 2018, 02:40:29 AM
Thank you guys for your nice comments. I hope this post can be helpful for many people, especially for new traders who have no basic knowledge in trading. I suggest you to have adequate knowledge firstly before thinking to start trading. Trading can be very risky for people who don't really know about crypto market, strategy, and all basic knowledge for a trader.
Title: Re: Some Fundamental Things to Know by Traders
Post by: Jacky on October 17, 2018, 11:14:25 AM
Good thread, especially for new traders. They will need it for the basic knowledge of trading strategies. I think this topic must be posted in more section in this forum.
Title: Re: Some Fundamental Things to Know by Traders
Post by: ZionRTZ on October 20, 2018, 06:55:01 PM
Good piece. +1 for this

I personally like the first one "Personality + Trading Style" I had this experience of following tips from someone who doesn't trade often (more like a hodler) but it's not really what I wanted at the time so I ended losing.

Title: Re: Some Fundamental Things to Know by Traders
Post by: alltalk on October 24, 2018, 06:03:17 AM
Quote from: Zion03 on October 20, 2018, 06:55:01 PM
Good piece. +1 for this

I personally like the first one "Personality + Trading Style" I had this experience of following tips from someone who doesn't trade often (more like a hodler) but it's not really what I wanted at the time so I ended losing.

Thank you so much, brother.  :)

Yeah, many things should be learned if we don't want to end with losing. Sometimes tips do not really fit with the reality. So, we must be wiser to adjust them with our needs. 
Title: Re: Some Fundamental Things to Know by Traders
Post by: Paha87 on December 21, 2018, 01:43:54 PM
I really liked your post and I highlighted the main aspects of this article. I am a novice trader and this post has been useful for me. Thank you friend +
Title: Re: Some Fundamental Things to Know by Traders
Post by: babu10 on December 26, 2018, 10:06:09 AM
Yes, I am fully agree with your experience and i think your writings is very essential for new traders. Every trader should know technical things which may help him to be a successful trader and here your script is very urgent.

Thanks.
Title: Re: Some Fundamental Things to Know by Traders
Post by: alltalk on January 03, 2019, 01:11:07 PM
Quote from: Paha87 on December 21, 2018, 01:43:54 PM
I really liked your post and I highlighted the main aspects of this article. I am a novice trader and this post has been useful for me. Thank you friend +
Quote from: babu10 on December 26, 2018, 10:06:09 AM
Yes, I am fully agree with your experience and i think your writings is very essential for new traders. Every trader should know technical things which may help him to be a successful trader and here your script is very urgent.

Thank you for your appreciation, friends. We must contribute to help each others. I will try to always share what I know for our new learning.
Title: Re: Some Fundamental Things to Know by Traders
Post by: Aulore on April 27, 2019, 11:27:32 AM
Very true. These are important facts that every trader should follow in order to be successful. I have personally been able to try out some of the strategies and am planning to explore some of those strategies in your list as well. Thanks for sharing, good job
Title: Re: Some Fundamental Things to Know by Traders
Post by: ICOrealityshow on May 14, 2019, 09:42:00 PM
The most important thing a trader should know is his maths, if there is success to be achieved, it has to be through the numbers. And this is not entirely to do with graphs and all that but also to know the calculations right.

Most people trading in stuff like Euro are not aware of the value of it accurately, and that creates lack of balance in their strategies. I ensure I am aware of all this and thanks to EUR currency converter (https://euro-rates.eu/) option from Euro.Rates, I find it simplified. And I feel these are the type of things that makes one work right and achieve results you desired to achieve.
Title: Re: Some Fundamental Things to Know by Traders
Post by: Dreamer on February 13, 2021, 02:47:47 AM
Quote from: alltalk on October 04, 2018, 10:12:23 AM
~Learning as much as possible
You can google to know more everything about crypto trading. Various knowledge regarding cryptocurrencies, blockchain, and market will help you to improve your ability in trading.
This is the biggest problem that fails a lot of traders (mostly beginners). Many of them are joining the crypto world and start trading because they heard trading can generate a very good profit easily! They forget that trading can only generate a profit for a trader who knows all the basics of trading and good trading strategies. So we have to learn before start trading unless we wanna risk our money!
Title: Re: Some Fundamental Things to Know by Traders
Post by: sakib.bro on April 04, 2021, 02:58:13 PM
It's a nice post, thnx a lot mate