A must know before trading

[milewilda]

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.

On the time or moment that you do set your foot into this market then you should be prepared for whatever things that you do able to encounter specially if we do speak about volatility.
This isnt something that you can be able to know on whats ahead and if you arent that emotionally prepared then you do find yourself having that hardship on trying to handle yourself towards this unpredictable and volatile space. Its important that you do need up to consider out on what are those risks and the things that you do need up to do whenever you do able to experience or currently happening. When doing trades then you are facing up with volatility and if you dont really know on what you are doing then you are just that dimply doing gambling and thats why you should be changing up that kind of behavior.

[Nheer]

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.

without knowledge then the so called trader will be referred to has a gambler. Trading without knowledge and abilities will result in potential losses that sometimes might get the traders capital blown away. You said  “the more the traders capital the bigger the risk” But the risk can be reduced and be controlled when the trader apply risk management and better and minimal lot size when trading. The risk of the capital depends solely on the traders decision how he manage his or her account that decision is left for the trader to apply. One can have a huge capital and apply risk management and be moving the capital step by step and not rushing into things.

[Mr. Magkaisa]

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.

without knowledge then the so called trader will be referred to has a gambler. Trading without knowledge and abilities will result in potential losses that sometimes might get the traders capital blown away. You said  “the more the traders capital the bigger the risk” But the risk can be reduced and be controlled when the trader apply risk management and better and minimal lot size when trading. The risk of the capital depends solely on the traders decision how he manage his or her account that decision is left for the trader to apply. One can have a huge capital and apply risk management and be moving the capital step by step and not rushing into things.

            -     Since it is quite difficult to operate without trading expertise, we are all probably aware of how important it is.   The one problem I often see among cryptocurrency traders is the level of seriousness exhibited by those who want to trade in this market.

 I had this thought, therefore let's make a commitment to grasping the basics before rushing to make money.  Making money is doable, at least with the basics.

[Chilwell]

Do you agree?

Yeah, I totally agree with what you said without any objection. As a trader it important for you to stay updated about any news, because without that you won't be able to to know the changes that occur in the market. Being Knowledgeable about trading is going to help and guide you in different ways, situations and aspects of trading cryptocurrency, it will guide you on how to keep your market and how to run it smoothly. It also helps you to make well informed decisions and make the process of risk management easier for you, and you will have the ability to maximise your income without selfishness or greediness. You will gain your profits after a lots of hard work, dedication, loyalty, commitment and honesty, this will gain you a lot of respect/honor and make you a reputable person which may lead to your success in cryptocurrency trading.

[bitbit97]

For me a must know before trading was always the idea that there is no guarantee of success or profit. I have seen many people whos main knowledge were buy low sell high, and they expected that now their will trade only with profit. I have seen numerous times, how they buy something, add few % to the price, make an order and wait. And they wait for long time. Hours, day, weeks, months, but their order stays unfilled. So a must know is - dont expect that you will be good at trading and get profit with every trade.

[Vx1]

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?

Of course I agree with what you said, news updates about cryptocurrency are very important if we are active in crypto trading. Because not a few of these can be factors in changing Crypto prices, including news about new coins that will be released on the market. If we just keep quiet without wanting to follow developments, we can trade but of course the results will not be like people who are always updated.

[taufik123]

-snip-
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.

Gold can indeed be the Safe Haven asset of choice at this time because of its price stability and tends to continue to rise even though it takes a long time.
But it is possible that the price will also fall but with low fluctuations, unlike crypto which is more extreme and is now still heavily influenced by the global economy.

This kind of knowledge will save us from global economic instability, so we know what to do and what assets are true-bears suitable for the long term.

Crypto can be a decentralized long-term solution with high volatility, and gold can be a more stable safe haven asset in any market condition.

[Blaze]

-snip-
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.

Gold can indeed be the Safe Haven asset of choice at this time because of its price stability and tends to continue to rise even though it takes a long time.
But it is possible that the price will also fall but with low fluctuations, unlike crypto which is more extreme and is now still heavily influenced by the global economy.

This kind of knowledge will save us from global economic instability, so we know what to do and what assets are true-bears suitable for the long term.

Crypto can be a decentralized long-term solution with high volatility, and gold can be a more stable safe haven asset in any market condition.

Yes and having both the gold and the crypto would be good to manage the existing volatility in the world today. Even though trying to find the similar security as gold is impossible, crypto can give way more opportunities, as long as one understands that risks are waiting for everyone. So if you are so sure of when and why you are selecting one or both of the assets, then it becomes quite difficult to be moved by the market volatility. It is not just choosing what to do, but it is also important how one prepares himself or herself to take the consequences of what they have set their mind into doing.

[Alone055]

Gold can indeed be the Safe Haven asset of choice at this time because of its price stability and tends to continue to rise even though it takes a long time.
But it is possible that the price will also fall but with low fluctuations, unlike crypto which is more extreme and is now still heavily influenced by the global economy.

This kind of knowledge will save us from global economic instability, so we know what to do and what assets are true-bears suitable for the long term.

Crypto can be a decentralized long-term solution with high volatility, and gold can be a more stable safe haven asset in any market condition.

There is a reason why Bitcoin or cryptocurrencies are influenced by the changes in the global economy and gold isn't; it's the supply. We all know that Bitcoin has a fixed supply, and so do most of the cryptocurrencies, that's why, when there is some FUD or anything, or if there is some positive news circulating around the world, people start buying or selling their crypto assets accordingly, and that changes the price based on the supply and demand mechanism.

On the other hand, gold has a supply unknown to mankind, and it already has a pretty large supply, but, you can't know how much more gold can be discovered and added into the circulating supply it has right now, so even if its bought or sold in large numbers, it doesn't affect its price that much, and this is the reason why it is a more stable source of investment.

[enwi]

There is a reason why Bitcoin or cryptocurrencies are influenced by the changes in the global economy and gold isn't; it's the supply. We all know that Bitcoin has a fixed supply, and so do most of the cryptocurrencies, that's why, when there is some FUD or anything, or if there is some positive news circulating around the world, people start buying or selling their crypto assets accordingly, and that changes the price based on the supply and demand mechanism.

On the other hand, gold has a supply unknown to mankind, and it already has a pretty large supply, but, you can't know how much more gold can be discovered and added into the circulating supply it has right now, so even if its bought or sold in large numbers, it doesn't affect its price that much, and this is the reason why it is a more stable source of investment.

What you describe directly addresses the concept of where Bitcoin is positioned in relation to gold. Due to its circulation in a limited supply system basis small fluctuations such as an increase in the market interest results to a change in its price. Fluctuations in favour of buying or selling can significantly affect the value of the subject in a short period. It has a large inventory physically located throughout the world and is known to have more producers worldwide, thus changes in demand are not extreme to the price. This makes gold a better hedge compared to cryptocurrencies since they are volatile.

[gunhell16]

without knowledge then the so called trader will be referred to has a gambler. Trading without knowledge and abilities will result in potential losses that sometimes might get the traders capital blown away. You said  “the more the traders capital the bigger the risk” But the risk can be reduced and be controlled when the trader apply risk management and better and minimal lot size when trading. The risk of the capital depends solely on the traders decision how he manage his or her account that decision is left for the trader to apply. One can have a huge capital and apply risk management and be moving the capital step by step and not rushing into things.

Knowledge is really valuable, that's why it's sad that most traders seem to ignore it, because there are others, who only had a little knowledge in trading, thinking they knew everything, they stuck to what they knew, didn't explore anymore, so in the end they still failed.

Now, why are there some who still stop and others who blame crypto trading or bitcoin, which has nothing to do with their mistakes and negligence, if they study or learn about it properly or correctly, they will surely get a good profit in crypto trading.

[MrSpasybo]

Knowledge is really valuable, that's why it's sad that most traders seem to ignore it, because there are others, who only had a little knowledge in trading, thinking they knew everything, they stuck to what they knew, didn't explore anymore, so in the end they still failed.

Now, why are there some who still stop and others who blame crypto trading or bitcoin, which has nothing to do with their mistakes and negligence, if they study or learn about it properly or correctly, they will surely get a good profit in crypto trading.

Well, typically, during a crypto winter, not many folks want to spend time on this "failed" market. They don't look into blockchain or crypto, they don't study macro or technical analysis, they badmouth the market and call it a scam online. However, when the bullrun happens, they FOMO and rush into the market without any knowledge. Some learn a bit, but don't have a deep understanding or enough testing, so they easily make mistakes when making investment decisions. Eventually, their luck runs out, and the market takes away both their profits and their capital.

I've seen this happen repeatedly through many cycles and consider it part of the market. If there weren't people failing and losing, there couldn't be successful and profitable people in the market. Advice is only valuable to serious investors, I don't want to waste advice on people who aren't really ready for crypto but love to blame the market ^^

[Nheer]

without knowledge then the so called trader will be referred to has a gambler. Trading without knowledge and abilities will result in potential losses that sometimes might get the traders capital blown away. You said  “the more the traders capital the bigger the risk” But the risk can be reduced and be controlled when the trader apply risk management and better and minimal lot size when trading. The risk of the capital depends solely on the traders decision how he manage his or her account that decision is left for the trader to apply. One can have a huge capital and apply risk management and be moving the capital step by step and not rushing into things.

Knowledge is really valuable, that's why it's sad that most traders seem to ignore it, because there are others, who only had a little knowledge in trading, thinking they knew everything, they stuck to what they knew, didn't explore anymore, so in the end they still failed.

Now, why are there some who still stop and others who blame crypto trading or bitcoin, which has nothing to do with their mistakes and negligence, if they study or learn about it properly or correctly, they will surely get a good profit in crypto trading.

Exactly many mistakes new traders do make not exploring more and more about crypto currency or trading just a little knowledge and they assume they have mastered everything and that a very wrong idea or strategy of learning trading cause with little knowledge you can’t be a profitable trader but when you have a lot of knowledge and follow news headlines about crypto then you will definitely have a upper hands over other traders so keep exploring and learn more the crypto currency world is a very wide and large place. Learning never stop so explore more and more.