A must know before trading

[libert19]

If trading is something you intend to do or passionate about, then staying updated with relevant news and information about the current happenings within the crypto ecosystem is paramount. You may therefore need to keep close company with crypto media and news platforms like coindesk, cointelegraph, decrypt amongst several others, particularly if you're new. These platforms make you aware of cryptocurrency market mood, market benchmarks, trading indexes, live price updates, charts, trade reviews, ongoing regulatory matters and the likes.
you will agree that these bits and tips are to a large extent responsible for the overall success or failure in trading.

Do you agree?

I agree. There is class of people who plan their trades by following news posted on sites like coinmarketcal. If market in in uptrend, then such trades can turn out immensely profitable.

[Hatchy]

Trading is not something passion at all.

Trading can be someone's passion. I guess that's just your own honest opinion. We all know that there's losses in trading which of cause anyone who wishes to go into trading should be well prepared for. But there are people who have conquered this and are making a life out of it. If you don't have passion to trade then there won't be any file to drive you further. I can speak for experience that my first few years of trading was quite annoying and frustrating, but I didn't just give up. I stayed back and kept trying to see what was wrong. Though I might not have attained that 1% yet but I'm proud of what I can do today in the market. That's something I have passion for.

[gunhell16]

Trading is not something passion at all.

Trading can be someone's passion. I guess that's just your own honest opinion. We all know that there's losses in trading which of cause anyone who wishes to go into trading should be well prepared for. But there are people who have conquered this and are making a life out of it. If you don't have passion to trade then there won't be any file to drive you further. I can speak for experience that my first few years of trading was quite annoying and frustrating, but I didn't just give up. I stayed back and kept trying to see what was wrong. Though I might not have attained that 1% yet but I'm proud of what I can do today in the market. That's something I have passion for.

If we really enter trading, I agree that we should also be prepared for unexpected things that happen in the actual trade, whatever exchange it is. As you mentioned, losses and winnings or profits that are called will not disappear from trading.

But even so, there are things that should be considered so that we can get the profit we are hoping for if we study it correctly, because if we don't do this,
you may just depend on luck if the coins we buy suddenly pump, which usually happens with meme coins.

[Blaze]

If we really enter trading, I agree that we should also be prepared for unexpected things that happen in the actual trade, whatever exchange it is. As you mentioned, losses and winnings or profits that are called will not disappear from trading.

But even so, there are things that should be considered so that we can get the profit we are hoping for if we study it correctly, because if we don't do this,
you may just depend on luck if the coins we buy suddenly pump, which usually happens with meme coins.

For me, trading is not just about waiting for the price to go crazy, but how you build measured and planned steps. The price can skyrocket literally overnight, some coins that are going viral, but with no meaningful analysis to support the guesswork it is simply guess work, like guessing the direction of the wind. When it comes to instinct or luck, the outcome may be very unlikely. In fact by learning to understand market movement patterns you are able to minimise risk by making such decisions that are more logical. Good trading is more about hopes for profit rather on how you can live and thrive from every decision you make.

[DavetJack]

We must know about any investment well before moving towards it which will help us move forward. We should not go directly into any investment in a new situation because if we do not have any knowledge about it then we will definitely be harmed there. Before trading we must need some idea about it or need to know many things. Here first of all we need to understand the market well at what speed it is moving or what can happen in the future. But you must be very knowledgeable about the market you need to know well about the fundamentals of the market. And we can learn about this in various other topics which our big brothers have presented their comments with their own knowledge which helps us a lot to move forward.

[taufik123]

-snip-
Many are extremely great at technical calculations, but once under pressure everything is rendered irrelevant because the mind is not clear anymore. You point out the part that isn’t taken notice of but is where the actual power lies, staying calm in an unfriendly situation. I believe that you’ve managed to describe what problem often leads someone to fail, not because of lack of intelligence, but because of hasty action of the one who should be patient.

When someone gets pressure and they can't handle it, it will be the point where they have to make the right decision or even a bad decision.
This is indeed about trading psychology, because many claim that they have qualified trading knowledge, but it is very bad when faced with the pressure of trading psychology that is beyond their predictions.

[alltalk]

When someone gets pressure and they can't handle it, it will be the point where they have to make the right decision or even a bad decision.

If someone is in a pressure, it will be difficult to make any decision. When you are trading, you must be confused if the price moves unexpectedly. In this situation, it is better to stick with our plan. If everything thing looks getting worse, it is better to exit immediately. Just secure our funds by deciding cutloss.

This is indeed about trading psychology, because many claim that they have qualified trading knowledge, but it is very bad when faced with the pressure of trading psychology that is beyond their predictions.

To be good traders, we must have proper knowledge and strong mentality. Someone who can't deal with a pressure, it means he/she has weak mentality. In my view, people having weak mentality don't deserve to be traders. They need to ensure to have strong mentality first before joining crypto trading.

[taufik123]

-snip-
To be good traders, we must have proper knowledge and strong mentality. Someone who can't deal with a pressure, it means he/she has weak mentality. In my view, people having weak mentality don't deserve to be traders. They need to ensure to have strong mentality first before joining crypto trading.

It's not really unfeasible, but they're not ready for the risks that will come with crypto trading due to high price fluctuations.
But if he is used to it and knows how the crypto market works, over time he will have a strong mentality and not panic when the market changes direction and does not go as planned.

Keep trying and not giving up on the circumstances will form a strong mentality for the next trade.

[Legion]

When someone gets pressure and they can't handle it, it will be the point where they have to make the right decision or even a bad decision.
This is indeed about trading psychology, because many claim that they have qualified trading knowledge, but it is very bad when faced with the pressure of trading psychology that is beyond their predictions.

Stressed, anxiety usually seeps in and people have difficulty thinking clearly and making a sensible decision. This frequently interferes with the trading process which is well thought and prepared in advance. When the emotions take over the rational thinking processes, decisions will be made under pressure in less effective making decision. Traders, both the novice and the experienced, can be exposed to such emotional fluctuations, in unexpected situations, because volatile conditions increase the intensity of a trader’s emotional responses. When in such situations, the best is to stay calm and avoid rushing in the may be at risk of doing it too ring.

[Mr. Magkaisa]

If trading is something you intend to do or passionate about, then staying updated with relevant news and information about the current happenings within the crypto ecosystem is paramount. You may therefore need to keep close company with crypto media and news platforms like coindesk, cointelegraph, decrypt amongst several others, particularly if you're new. These platforms make you aware of cryptocurrency market mood, market benchmarks, trading indexes, live price updates, charts, trade reviews, ongoing regulatory matters and the likes.
you will agree that these bits and tips are to a large extent responsible for the overall success or failure in trading.

 Do you agree?

Maybe these are the things you can do before you actually enter trading here in the crypto space.

1. know what is the basic things that you should know in trading? You should know this for yourself first.

2. Also ask yourself, are you a long-term, short-term trader? scalper? day trader? or swing trader?

3. You must have capital to buy the assets that you want to do your trading activity.

4. You must also be a risk taker as traders because if you are afraid of losing in trading, you should not continue the trading you will do here.

5. Stay updated on crypto news updates so that you are not left behind in the news whether the price of Bitcoin will rise or fall.

6. Always apply DYOR..