Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: Nate11 on December 18, 2018, 08:01:28 PM
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What are the basic things one must know about the Cryptocurrency market to make a successful trader?
Is there some kind of school to enroll in please?
And which is preferable between low cap and low volume coins?
Thanks.
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You do not have to go to school. You can have a personal tutor if you want.
Also, Admin created a new board for all trading lessons, you can find them all here https://www.altcoinstalks.com/index.php?board=342.0
And which is preferable between low cap and low volume coins?
If I have to choose, I prefer low cap. It's less risky than low volume.
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Each trader have different style. If you are planning to enter the trading game, you'll have to find your own.
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For daily trading you must have to keep eyes on market in every seconds for coins you selected for trade. You have to choose those tokens from market which roadmap is good and exchanging in good volume in market.
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Intraday trading requires volatility.Now it is,and therefore you can earn, but to do it carefully with compliance with risk/money management.And you don't have to make a lot of deals.
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What are the basic things one must know about the Cryptocurrency market to make a successful trader?
Is there some kind of school to enroll in please?
And which is preferable between low cap and low volume coins?
Thanks.
I am quite sure that to be a successful trader in crypto understanding of how crypto market work in general is sufficient enough. I think understand whether you want to be a long term or day trader is more critical for you.
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I think to be a successful trader, one must do away with greediness, do not follow the crowd,do not jump on a trade that the coin price is obviously bullish. Etc
I prefer low cap gems
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First of all, day trading is the act of buying and selling
coins/tokens within the same day or even multiple times over the course of a day. Obviously, to be successful in day trading, i think it is expected to trade with a little percentage of profit depending on how the market prices are in the day. I trade daily with a little profit and with the slightest opportunities for the day.
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1) If you are just starting, open a free demo and practise
2) Be aware of events that might influence your technical analysis
3) If you want to day trade crypto, find a coin that best fits your trading style and find as much information about the coin as possible. If you focus on more cryptocurrencies, your focus splits. (This differs from long term investing where you should focus on portfolio diversification)
4) With a real account, trade only with money you can afford to lose
I day trade mainly mid-cap and high-cap cryptocurrencies, be certain that there is a lot of volatility so there is money to be made even there when day trading. I run a website about CFD day trading cryptocurrencies but unfortunately for some reason, I cannot post links here so in case you would want to point into a good direction, you can PM me.
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Trade requires calm and experience, you have to be able to resist emotions when trading, I attended many seminars and asked many questions about the bearish market situation and overcame the risk of large losses.
You can start by making a deposit or demo on a trade in the crypto market, but the accuracy and accuracy of the right time to get a chance is a very valuable opportunity to get profits.
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To become a great trader you need a lot of knowledge and of course the experience will bring you to success because with a lot of experience you can determine to sell or hold properly in any market conditions.
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As a trader, it’s very important that we don’t become specific to one way of trading, as then it becomes too risky for comfort. I keep my doors open for all techniques, as I feel that’s the way I could extract maximum rewards for myself.
It helps when you got the broker of FXLinked’s (https://www.fxlinked.com/) caliber which is truly amazing. As not only they are regulated by FSA and then there is also features that you dearly like and love, from low spreads, high leverage and several other benefits which makes working smoother.
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You don’t need to be a daily trader, instead you just need to be a sensible trader. I have seen many days in my career where I had no clue what to do. So, in such scenarios, you are BETTER with not trading instead of doing it forcefully. I trade only after doing proper analyzing and IF I know for sure about the possible direction.
And it’s equally important to work with top online trading companies (https://www.alphabetafx.com/), because you need the comfort to work freely. I get that with AlphaBeta FX, who are in the industry for last 7 years or so, with servicing in 150 countries. Aside from one of the most respectable brokers, it carries some highly luxuries features that stands out on their portfolio. So, all this is what helps me with trading whether it’s daily or not.
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Experience will lead you to success and not only that in trading you must be able to consider the risks you take when you start investing (doing research).