Top Factors to Consider for Successful Crypto Trading

[alltalk]

Since you stated "diversification" above, means you don't focus on Bitcoin only. Get other alternatives to invest your funds, then top altcoins fit for the alternatives. If you only focus on trading Bitcoin, you won't get a bigger chance to gain fast & efficient profits. Sometimes Bitcoin cannot improve its price significantly, there is time for a sideway and decrease. By having altcoins, you can take advantage of its big volatility.

[Shiftal]

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.

Absolutely correct, it is better to invest in gaining knowledge first rather than jumping directly to the live market and try out your fortune. 

[Shiftal]

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.

Absolutely correct, It is better to gain knowledge first rather than directly trying your fortune out there. Better to understand the basics of the cryptocurrency market and start from a little.

[Shiftal]

Thanks for the info was very helpful!

I hope our post will help you to become a successful trader in the near future.

Happy Trading!

[sakib.bro]

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!

I think to become a successful crypto trader everyone should be focused and also determined to the market in all aspects. Both physically and mentally he or she should patient in every second to be successful. And a property discipline is also applicable to be a successful trader

[Shiftal]

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.

Yes, it is better to research yourself that will not only help you gain knowledge but also would help you to earn great returns in future as well.

[Spaffin]

I believe that knowledge, experience and a real assessment of the cryptocurrency market and their capabilities are the main factors for effective trading. Many traders make a mistake when they overestimate their capabilities and end up suffering losses.

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[Casual]

Those who have good experience about cryptocurrency and will be able to get a lot of profit by trading well. If someone has enough experience about cryptocurrency then someone else’s signal should never be taken. Because many people often give the wrong signal, you must have your own experience in cryptocurrency.

[Mas Bro]

The main factor for achieving success in crypto trading is good knowledge and experience about the crypto market. The ability to analyze the market and trading strategies are indispensable for trading. I believe every trader has their own strategy and characteristics for trading. To profit from trading.

[Fadhilz123]

The top factor for success in crypto trading is knowledge, this is the important factor that you should include in the list. The rest I agree with you. But on another side, each trader has their own strategy for how to earn money from crypto trading.

[gabbie2010]

This post by the OP is an eye-opener to investor who want to become millionaire or get rich quickly by investing in cryptocurrencies without considering risk factor,  when to take profit by avoiding greediness e.t.c these are important factors that needed to be considered to earn decent profit these are some of the valuable knowledge to become a successful trader.

[Dreamer]

Well explained buddy! Trading seems like a normal thing but in reality, it has a lot of things to understand before starting it. A lot of people have been losing their money because they think trading is an easy way to double their money and achieve their goals quickly! But that is not true, because without learning all the basics of trading and the best trading strategies will never be easy for anyone to earn from trading!

[Triedboy]

Of course, a trader must have good knowledge and experience in cryptocurrency. If a trader can make a profit even if it is a little bit, it is seen that even after having more experience, a lot of time is lost by trading. In order to trade, the first thing you must learn to analyze is how long it takes to pump a token. If you have an idea about these things, I believe that trading can be profitable.

[nelson4lov]

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.

Why do you think the market is been manipulated?, remember the crypto market is very volatile the only way the market price can be manipulated is when there's a huge buy from one person or a huge dump, but the crypto market is alot more bigger than that now, I think the only coin which the prices can be manipulated are coins with low volume and low market caps, any little $1000 buy can change the price for good.