3 Keys to being a Better Cryptocurrency Trader

in cryptocurrency •  7 years ago 
Many people see the Cryptocurrency Markets as the new opportunity to earn money. But we must bear in mind that the risk of making bad investments in very high, in the post I give you 3 keys that I consider are fundamental to make a correct Cryptocurrency Trading, also they can serve you to improve other business areas and your life.

Calve N ° 1: Discipline

The discipline in Trading is one of the most important aspects that we have to develop, because first we have to have a plan to do Trading, that is, we must develop a system. For this there are several strategies that we have to develop little by little. If you do not have extensive information about Trading, it is advisable to use a demo system at first until you have a broad concept and a suitable system to work as a trader.

Calve N ° 2: Learning from the losses

Obviously they are going to have losses, the one that says that always wins in the markets is obviously lying, notice that there is a statistic at least in certain markets that at least 90% of investors lose money daily, and the other 10% They are the ones who are winning. Then learning from your losses is one of the best things that can happen even if you do not believe it, because precisely from there you will get the knowledge to understand how markets work better and your internal psychology when accepting and learning.

Key N ° 3: Keep simplicity in trading

I have seen a lot of graphics or real-time information in quotes or analyzes that have many indicators, I recommend just relying on psychological levels, trend lines, breaks and among others. I think that the cleaner a graph is maintained, the easier it is to develop a convincing trading system that can give you good results, because you have a lot of information or you have too many criteria to choose from to enter and exit the market, maybe in some market the criteria can be contradicted one to the other, then you can not put into action what can have two results, one that you have lost and two that you can not take a good opportunity, use two or three indicators at most.


The world of Trading is one of the most active and exciting areas that exist, you must be in continuous study and monitoring of the market, but for this you must have a good system that allows you to have an optimal action in the market using these three aspects as main.


Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

These are indeed three very good rules. Discipline I believe is one of the most important ones. I have been trading pretty much against the market during the last month.

I investigated that I developed a kind o instinct for the charts, patterns and specific formations. The more you trade, these start to get visible once you quickly look at a chart.

Discipline to control FOMO is harder though, also trading, just to trade is bad, too. The worst deals I made were those where I tried to jump on a high speed train even knowing that the chart just moved into a Bull-Trap.

I now try to only trade with a clear head, but that is also training. As many things you need to train discipline with each and every trade.

It is very important to have a clear strategy, we must be aware that the world of crypto is very volatile and knowing one is the question, it would be as good as it says.

Nice post. Discipline is so important to get into trading. I am learning everyday.

In any field, discipline is paramount, I recommend you watch the documentary "the discipline will sooner or later overcome the intelligence".