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Author Topic: Top Factors to Consider for Successful Crypto Trading  (Read 3585 times)

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Top Factors to Consider for Successful Crypto Trading
« on: March 26, 2021, 02:09:12 PM »
The successful ones started their trading with the best cryptocurrency exchange platform by asking questions such as:

– Is Bitcoin a good investment?
– What is the best mode of payment to buy Bitcoins?
– Which is the best Bitcoin investment strategy?
– How much to invest in Bitcoin?

These questions may confuse beginners, so it is advisable to have a mentor. A mentor has gone through all these questions and can guide you through the process.

Now let’s delve into the major factors that you should consider when deciding upon how much to invest in Bitcoin or your other coveted cryptocurrency.

Factor #1: Risk Tolerance

The cryptocurrency market is highly volatile. Of course, crypto maniacs believe in the growth of cryptocurrency. But in the end, the future of the crypto market is unpredictable.

So, when thinking about how much to invest in Bitcoin, think of an amount that you can afford to lose. Keep the amount you invest at a level where it does not affect your judgment.

Factor #2: Profit Tolerance

I know you will find it silly, but think about it – if you invest an amount that can get you highly emotional when you lose it, what will happen if you multiply your money by 20 times?

Back in 2017, the same situation happened to a lot of investors when cryptocurrency was booming. They became millionaires because they decided to invest their savings in cryptocurrency.

But what happened later? Do you think they sold their positions and took their profits? No. Most of them went back to where they were during the 2018 market crash.

So, it is imperative to invest in crypto wisely.

Factor #3: Change of Mind

Have you ever seen any cryptocurrency investor say “I’ll invest $X in cryptocurrencies” and stick on that particular amount? Might be No. People change their minds by nature, even more, when they confront an ever-evolving market.

So, before you make a final decision about how much to invest in BTC or ETH, and any currency you want, leave a room to change your mind in the future. The easiest way to do this is to divide your investment over time. Set the particular amount in your mind, and invest it within the next 3, 6, or 12 months.

Factor #4: Diversification

Cryptocurrencies are uncorrelated with regular markets such as finance, gold, and stocks.

Do you know what it means? For instance, gold is a correlated asset class. When stocks fall, gold rises and vice versa- they are inversely proportional to each other. But Bitcoin and Altcoins are not correlated. They move on their law and there is no connection to stocks, bonds, etc. This is partly why Bitcoin is a good investment.

Apart from this, they are volatile, which means you want to include various assets in your portfolio to reduce your risk. Diversification is a unique technique that any mature investor uses to reduce the importance of luck.

What are the best sites to buy BTC?

There are hundreds of websites where you can invest in Bitcoin. All of them have different offerings and you will have to choose a few based on your preferences. If you are looking for the best crypto trading platform, then Shiftal is a perfect place for you to buy the two major cryptocurrencies- BTC and ETH by using any of your coveted payment options, as Shiftal offers 70+ payment methods. Invest now to enjoy seamless trading!

Happy Trading!

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Top Factors to Consider for Successful Crypto Trading
« on: March 26, 2021, 02:09:12 PM »

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Offline Boginya Valyutnaya

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Re: Top Factors to Consider for Successful Crypto Trading
« Reply #1 on: March 27, 2021, 03:39:36 AM »
Thanks for the info was very helpful!

Offline iloveyobit

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Re: Top Factors to Consider for Successful Crypto Trading
« Reply #2 on: March 27, 2021, 12:04:37 PM »
great topic,i want to add that even mastering all those factors there is still a chance that you will get a loose on crypto market especially on trading bitcoin because the price is highly manipulated and changes faster than we all think,so trading in other altcoins is the best option for me.

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Re: Top Factors to Consider for Successful Crypto Trading
« Reply #3 on: March 27, 2021, 11:28:33 PM »
For me, the biggest factor to determine the success in trading is how the skills and characteristics of traders. This is the key point from a trader that they should master. Without mastering those things well, they will have big risks in trading. We all know that trading doesn't guarantee someone to get profits.
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Re: Top Factors to Consider for Successful Crypto Trading
« Reply #4 on: March 28, 2021, 09:48:42 AM »
The major factors in successful cryptocurrencies trading knowledge and experienced. If you have enough knowledge about cryptocurrencies trading, signal and market then you should face much problems.

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Re: Top Factors to Consider for Successful Crypto Trading
« Reply #5 on: March 28, 2021, 12:02:53 PM »
The major factors in successful cryptocurrencies trading knowledge and experienced. If you have enough knowledge about cryptocurrencies trading, signal and market then you should face much problems.
I believe that the availability of only knowledge is not the determining factor of success, although knowledge and experience are included in the very base of factors that affect the results of trading. First of all, you need to pay attention to the development of skills, and for a beginner, first of all, it is better to use demo versions of a cryptocurrency exchange.

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Re: Top Factors to Consider for Successful Crypto Trading
« Reply #6 on: March 29, 2021, 02:53:48 AM »
Those who have good experience in cryptocurrency and have knowledge about all cryptocurrency markets will definitely benefit from trading. There are many who trade on signals but most of them lose. It is never possible to make a profit without trading without gaining knowledge about cryptocurrency.
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Re: Top Factors to Consider for Successful Crypto Trading
« Reply #6 on: March 29, 2021, 02:53:48 AM »


Offline Shiftal

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Re: Top Factors to Consider for Successful Crypto Trading
« Reply #7 on: March 31, 2021, 11:03:54 AM »
Thanks for the info was very helpful!

Thank You for your feedback.

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Re: Top Factors to Consider for Successful Crypto Trading
« Reply #8 on: March 31, 2021, 11:08:01 AM »
great topic,i want to add that even mastering all those factors there is still a chance that you will get a loose on crypto market especially on trading bitcoin because the price is highly manipulated and changes faster than we all think, so trading in other altcoins is the best option for me.

Cryptos are highly volatile and diversification is the key to reduce your dependence on bitcoin.

Offline Shiftal

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Re: Top Factors to Consider for Successful Crypto Trading
« Reply #9 on: March 31, 2021, 11:10:07 AM »
For me, the biggest factor to determine the success in trading is how the skills and characteristics of traders. This is the key point from a trader that they should master. Without mastering those things well, they will have big risks in trading. We all know that trading doesn't guarantee someone to get profits.

Yes, skills and character of a trader highly determine their future in the crypto market.

Offline Shiftal

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Re: Top Factors to Consider for Successful Crypto Trading
« Reply #10 on: March 31, 2021, 11:16:54 AM »
The major factors in successful cryptocurrencies trading knowledge and experienced. If you have enough knowledge about cryptocurrencies trading, signal and market then you should face much problems.

Knowledge and experience is the key ingredient to be successful in any field. As far as crypto is concerned people should also gain from others experience as well so that they do not repeat the same mistake and could save their capital.

Offline robert20

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Re: Top Factors to Consider for Successful Crypto Trading
« Reply #11 on: March 31, 2021, 08:17:15 PM »
Knowledge and experience are key to become successful in crypto. First they should get some knowledge about how to read charts and do trading.
Then comes they can use demo trading to get a hands on experience about trading before trading with real money.
Then starting with small funds keep increasing your investment and make money.
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Re: Top Factors to Consider for Successful Crypto Trading
« Reply #12 on: April 01, 2021, 02:29:24 PM »
Knowledge and experience are key to become successful in crypto. First they should get some knowledge about how to read charts and do trading.
Then comes they can use demo trading to get a hands on experience about trading before trading with real money.
Then starting with small funds keep increasing your investment and make money.

Yes, I think experience and knowledge are key to successful crypto trading.

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Re: Top Factors to Consider for Successful Crypto Trading
« Reply #13 on: April 01, 2021, 03:46:34 PM »
It seems that you have a lot of experience in trading cryptocurrency, actually, all of your statement in the above was certainly correct and I cannot say it is not good, of course, it is good and better to keep this and remember as one of the additional knowledge about crypto trading. and I added one more thing, you must specify what behavior should the individuals traders need to become here in this type of business in the crypto space?
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Offline sergeybobrov

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Re: Top Factors to Consider for Successful Crypto Trading
« Reply #14 on: April 01, 2021, 04:57:22 PM »
Everything is written correctly and very correctly stated. The most important thing is not to look for a mentor and a senior assistant in telegram chats, as there are a lot of scammers. It is better to understand everything on your own and take your time because the market will not go anywhere.

 

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