A must know before trading

[Rruchi man]

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?

It comes summarized into a simple statement that says that if you must build a house, you must make sure that the foundation is strong enough, and if you must build a tall building, you must make sure that the foundation is deep enough. If you intend to go far in trading, you have to make sure not to overlook the basic concepts and tools that are necessary for success because becoming conversant with those basics and tools in trading improve your chances of being a successful and profitable trader.

[enwi]

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?

It comes summarized into a simple statement that says that if you must build a house, you must make sure that the foundation is strong enough, and if you must build a tall building, you must make sure that the foundation is deep enough. If you intend to go far in trading, you have to make sure not to overlook the basic concepts and tools that are necessary for success because becoming conversant with those basics and tools in trading improve your chances of being a successful and profitable trader.

It makes us often ignores the fact that success is not something extraordinary at the initial stage but it is something which is gradually nurtured consistently. Respect gradually flourishes from how one handles items that fundamentally influence great matters, albeit appearing to be mundane. A lot is not about acquisition of the refined and fancy concepts, what matters much more is the determined forging of the technical know how and the way in which the fine print of the abstract concepts are seized. We are not running after something that is exciting but we are trying to build a pattern that can support us to be stable when faced with such situations. Then it is noted that stability is not something that is invoked from the outside but rather something that is an intrinsic part of a person’s readiness right from the beginning.

[Azharul]

Crypto media is also very important issue in cryptocurrency world. Because we can know crypto currency news about crypto currency position from this media. We also know that coindesk, cointelegraph, and decrypts also the best profitable source in cryptocurrency world. Because when we follow in this media, we can understand clearly in cryptocurrency market position. But we shouldn’t only depend on it, we also understand in cryptocurrency market carefully. Because cryptocurrency knowledge and trading capacity must be helpful source for best crypto trading.

[ZAINmalik75]

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. Starting crypto trading on our own without any source of knowledge and overview of market we cannot survive it. Therefore either we are starting trading ot not we should learn how to read news from these sites and if we don't understand anything because of being newbie try to understand that part and then move on to the next one.

Knowledge is the greatest power and without any source we can't know what is happening in the market although the charts shared on these websites are not that useful because if a person wants to do technical analysis he should do it on his own by learning first but these sites should be our first choice when getting information.

[Mr. Magkaisa]

       -      If you are a beginner in the field of crypto trading, you should know that it is not a matter of chance or luck for you to get a profit. You should know and accept that you can face losses many times in the crypto space. Because no trader is perfect.

And of course, don't forget that you must have capital because you are a buyer and seller here, and it should also be important for everyone to study trading because this will help you how to get a strategy for getting a profit in trading.

[DavetJack]

Yes, we who are here must have an eye on the market because analyzing the market is also an investment strategy and in my opinion, the most important strategy is analyzing the market because if you cannot analyze the market well, your predictions will never be correct and no matter how confident you are in investing, you will still be exposed to risk and you will lose money there.

We should keep an eye on all the news because if we don't keep an eye on when the market is moving in which direction then it will be very difficult for us to invest. Always keep yourself updated and keep an eye on what is happening in the market and invest with a long term view and try to make a profit.

[Z-crypt]

Yes, we who are here must have an eye on the market because analyzing the market is also an investment strategy and in my opinion, the most important strategy is analyzing the market because if you cannot analyze the market well, your predictions will never be correct and no matter how confident you are in investing, you will still be exposed to risk and you will lose money there.

We should keep an eye on all the news because if we don't keep an eye on when the market is moving in which direction then it will be very difficult for us to invest. Always keep yourself updated and keep an eye on what is happening in the market and invest with a long term view and try to make a profit.

I’d say keeping a close watch on the news won’t be enough, one should also make sure to keep sharpening their knowledge and skills. You know some new traders still find it difficult to understand the fundamentals.

[DragonF]

Yes, we who are here must have an eye on the market because analyzing the market is also an investment strategy and in my opinion, the most important strategy is analyzing the market because if you cannot analyze the market well, your predictions will never be correct and no matter how confident you are in investing, you will still be exposed to risk and you will lose money there.

We should keep an eye on all the news because if we don't keep an eye on when the market is moving in which direction then it will be very difficult for us to invest. Always keep yourself updated and keep an eye on what is happening in the market and invest with a long term view and try to make a profit.

Well said! Gathering information and thoroughly analyzing the market is the foundation of successful trading. A trader who lacks the ability to analyze market conditions will create a vacuum in his trading, resulting in more losses than gains. Even if a trader is confident in his trading abilities, without knowledge of market analysis, he will trade ignorantly and blindly.

Poor market analysis cannot produce profits, regardless of the amount of capital involved. In fact, the higher the capital, the greater the trader's risk of losing money. To be on the safe side, a trader must conduct thorough market analysis and study of market trends before trading.

[salad daging]

Trading is risky so you have to be prepared for everything.

About the news of course it is important because usually it will affect the market not forgetting the chart you do it can help your trading better, at least maybe a combination of your skills can be learned more or applied in trading.

It's just that this needs quite a long learning, not easy in a short time to master it.

[bitterguy28]

Trading is risky so you have to be prepared for everything.

getting into trading means being prepared for everything that could possibly happen as the market is incredibly volatile and unpredictable better to have multiple plans or the ability to adjust your strategy whichever is appropriate

About the news of course it is important because usually it will affect the market not forgetting the chart you do it can help your trading better, at least maybe a combination of your skills can be learned more or applied in trading.

It's just that this needs quite a long learning, not easy in a short time to master it.

there definitely is patience needed in trading otherwise you will end up making mistakes left and right

[Bobcrypto]

        -     In the first place, there is nothing wrong or wrong with making trading your passion in the cryptocurrency business industry, we must be ready and know what we can face here. Because as traders we must really know and be ready to face the risk that is here.

Traders especially newbies thinks that trading is a get rich scheme without paying close attention to the fact that trading has high risk and involves serious mental and emotional alertness and even contact learning. It is when a trader have this awareness that his trade can be calm and progressive.

Because trading is really very high risk, it is not easy to make trading a source of income like others think, which is their wrong understanding. This requires dedication, determination and passion. These three are just okay and enough for me.

Knowing that the market is volatile, a trader must be ready for the ups and downs because the market is not only about the bIG wins but the losses too and as you mentioned dedication, determination and passion are the core values that can help the trader sail through the challenges in trading.

Besides dedication, determination and passion, the most important key factor on trading is patience and experience. As you may know, patience brings in experience, and the end is good returns.
Again, trading comes with profit/Loss, and despite all the factors that are necessary to trade effectively with good returns, there are no trades with without profit/loss, it is part of the trading risks that will occur at any time.

[Legion]

Besides dedication, determination and passion, the most important key factor on trading is patience and experience. As you may know, patience brings in experience, and the end is good returns.
Again, trading comes with profit/Loss, and despite all the factors that are necessary to trade effectively with good returns, there are no trades with without profit/loss, it is part of the trading risks that will occur at any time.

I fully understand that there is no single trading that can occur without the possibility of a loss regardless of how keen one may be in analysing the market. However, they do not know that decision making process can influence personality of a trader. Indeed, it is not really a case of one’s seniority in the market but his knowledge concerning the choices he has made. Everyone has different abilities and thus some can learn from their mistaches very fast while the others would take awhile. You can have what you feel is the best method to use, but if you can not endure the stress each time the market turns against you the strategies may fold. Therefore, taking time, flying hours, and the discipline of bearing myself in a particular mental and open outlook in any challenge plays a large role.

[Mr. Magkaisa]

Crypto media is also very important issue in cryptocurrency world. Because we can know crypto currency news about crypto currency position from this media. We also know that coindesk, cointelegraph, and decrypts also the best profitable source in cryptocurrency world. Because when we follow in this media, we can understand clearly in cryptocurrency market position. But we shouldn’t only depend on it, we also understand in cryptocurrency market carefully. Because cryptocurrency knowledge and trading capacity must be helpful source for best crypto trading.

       -     I also agreed on this matter because this is also what gives us hints on whether we should enter to buy or exit to sell, and many communities are working to monitor these methods in reality. Because if we don't do this, we will really be left behind in reality.

And we should also look at the price of other currencies like Dxy and others once a week so we can know if there will be an up trend or downtrend in the coming days in the price of bitcoin because we know that most cryptocurrencies just follow the price movement of bitcoin.

[taufik123]

-snip-
And we should also look at the price of other currencies like Dxy and others once a week so we can know if there will be an up trend or downtrend in the coming days in the price of bitcoin because we know that most cryptocurrencies just follow the price movement of bitcoin.

Cryptocurrencies will indeed follow the price of Bitcoin, If Bitcoin goes down then the altcoins will go down more, But even though Bitcoin is going up and also its dominance is going up, the altcoin will not even move because the liquidity mainstream will go to Bitcoin. You only need to wait for the price of Bitcoin to be high and stable then the altcoin will recover.

And looking at other currencies besides crypto as you said are also needed, the price of gold will also show how the current world economy is, because the state of the global economy also has a big influence on the crypto market as it is today.

[Blaze]

-snip-
And we should also look at the price of other currencies like Dxy and others once a week so we can know if there will be an up trend or downtrend in the coming days in the price of bitcoin because we know that most cryptocurrencies just follow the price movement of bitcoin.

Cryptocurrencies will indeed follow the price of Bitcoin, If Bitcoin goes down then the altcoins will go down more, But even though Bitcoin is going up and also its dominance is going up, the altcoin will not even move because the liquidity mainstream will go to Bitcoin. You only need to wait for the price of Bitcoin to be high and stable then the altcoin will recover.

And looking at other currencies besides crypto as you said are also needed, the price of gold will also show how the current world economy is, because the state of the global economy also has a big influence on the crypto market as it is today.

Yes, indeed, Bitcoin is usually an alchemist of the general crypto market, and when it goes down, down go the altcoins with greater magnitude. In contrast, after the development of Bitcoin has reached a stable and a high value, subsequently, altcoins start to manifest signs of improvement. I completely agree with you, anvil that greater liquidity always seeks amnesty to Bitcoin during such incidences. However, it is also important to notice the global economy and the price of gold that you have mentioned. Thus, talking as a safe haven asset, the price of gold can give hint on things that could prevail in the market and in turn how that may impact the decision making of investing in the crypto market. This can be attributed to the fact that when the economy of the whole world is not stable, usually investors opt for safer options and this has the potential to alter the market for cryptocurrency.