Bitcoin Forum

Reading news constantly and being on track?
Using platforms/tools?
Is trading view enough?
Thank you for helping in this matter!

Honestly, you can answer that by yourself.

You got some useful and helpful advice here: (https://bitcointalk.org/index.php?topic=5197245) . You just need to understand what others told you.

And I think, even by a bit, you already have a knowledge about choosing a coin to trade based on your preferences so I believed you already know the basics,

You've said it yourself. it's a rule of thumb  to always make trade analysis using not only technical analysis but with fundamental analysis. That said, You've to actively checking the news. If you've been in crypto long enough, You would know how crazy a coin gets when it's in the news and everybody is talking about it on CT etc. You can checkout this article I found : Best Trading tools checklist ✅  (https://cryptomaniaks.com/guides/best-crypto-tools-checklist)

Quite often will be good. And you should know what to react to such crypto related news.
You cannot start trading without these. And before that try to explore and search for reviews on which platform tools are good for trading. Choose the best.
Sufficient knowledge for a different styles I guess is enough. Ideas to a certain coins are enough as well. Besides beginners have different range of approach to crypto try to find yours. Lastly for a safe trading choose a best company who has a good reputation so that trading would be simple for you.

Learn to stop loss, sell already those alts that seems to have no development. While it is good to trade different alts, for newbies it will be better to focus only in few top alts, even their are all volatile but chances that it will  dump to fall is small unlike those new alts or unpopular alts? And always be updated on news to have some clue on what to trade that day.

Buy the news, sell the rumor.

A definite must have tool and you should at least start with trading view so you can access your accounts simultaneously. However, don't treat trading a one time learning as trading isn't everyone's cup of tea so better to keep on learning.

I think the most important thing is reading news constantly and being on track. Because all we know that we need to be updated in doing trading, short term trading or even long term trading because we need to know the market situation to recognized if we need to hold or to sell. But always remember that we need a reliable source of news because there's lot of fake news here in cryoto world.

We need much experience to become a profitable trader.
I think using platform tools for monitoring assets and the reference website for people analysis such as tradingview is enough to start our journey to become a trader.
but we have to practice our emotion, patient, and all the other things that relevant with trading physicology is hard to get except by experience of trading. Maybe at first we will always got trapped by the whales but over time we will find the rythm of trading.

A lot!

But one most important thing for trader is stability of emotion.

No matter how great you are at analyzing with different tools, no matter how long you do a research, mo matter how much time you invested to get experiences, if your emotion is not stable then you might take a wrong decision.

emotion controlling and lot of practice will help us to be good trader.most of traders didnt prepare their self with good skill before join in market.tools just a tool that could not used if trader doesnt understand how this indicator work.if ever heard false signal, it caused by trader that confused with tools utility. I am agree capability in controlling emotion will make us survive in our trading  carreer.

About your first phrase.
The Reading news constantly and being on track?;
You should need to know that not all news or any articles are related in trading, we have technical analysis that is also focused in charts/different tools in trading.
That's why it is much advisable to learn or focus in technical analysis so that you will not really rely on news because there's a lot of fake news nowadays just to manipulate the emotion of some people or market.

On the first factor you pointed out:

It depends on what you're trading; cryptocurrency or forex. When trading traditional fiat currencies the news that affect it are more easily recognizable and you can judge the direction of the market. In cryptocurrency it is much more difficult to filter news and how it would affect investors or potential investors.
In both scenarios there is a fair bit of price manipulation going on.

What traders need is the ability to analyze markets both technically and fundamentally, so they can determine the right decision
when to buy / sell. The ability to control emotions is also needed by traders, so they can focus on achieving the target is not
affected by anything else. Reviewing news might have to be able to filter which ones are real. Using tools only for professionals
traders, for the newbie try manually so that his ability is honed. For the initial stage, enough with trading view.

to trade!

seriously, if you want to become a trader you have to start trading. reading stuff online on speculation forums, reading books, learning technical analysis,... all will be theoretical and will never help you make any profit unless you start trading and gain some experience.

news rarely is the reason for a rise or fall specially in altcoins that are only pump and dumping.
it is too soon to use any kind of tool if you are new.
tradingview is good but it is what i explained above (theoretical). and nowadays most people there don't know what they are talking about.

Yes because you know the development of each coin you hold, here you read all the news you need to know that will affect your coin hold. It will also help you if you join the telegram groups, discord groups of coins you hold. Since you can read and know about each coin development, you can also ask your questions here.

Every trader lacks in something which only he himself knows. I think it's better for every trader to introspect himself before deciding what he lacks. But in general I think what trader needs most is patience to make things work. Traders don't have to lose hopes after just a bad start as a trading journey is a lifelong journey and you don't have to give up anywhere in between. Most of traders after 1 or 2 years think that trading isn't worth the hardwork but this is actually the time after which things actually start to work.

being logged to an exchange constantly and an tradingview app i think is enough for you to go on trading. these are the only two i need and all the news i get are from this forum only. although i'm subscribed to cointele and some other youtube channel, i still don't go listen there unless i see the title to be interesting. and the most important thing that a trader must have is funds.  :D

Because some of the traders want to shortcut on everything that's why we can see them became a loser and get panic easily when there's an upcoming fuds and little dumps happened, and I think to counter this up traders must have guts and knowledge on some techniques about trading. But if they really want to learn and become expert maybe they should avail those paid trading courses(those legit ones) since for sure it will be helpful and it's for them to upgrade for long term purposes.

What do you think in yourself that you are lacking? Its all about the experience in answering these questions though. No matter how many preparations you've made, the experience would still be the one answering what you yourself are lacking. Of course, this doesn't mean i'm discrediting proper preparations. Those are still important like research, exchange to use, studying, analysis etc. I'm just iterating that only experience would show what you yourself is missing, in addition to those preparations you've made yourself.

I would say that the only things that a trader needs are technical analysis, risk management and a rested, clear, emotionless mind so he can take the right decisions based on his edge. Of course that in order to place trades he's gonna need a broker(trading platform) and a charting platform like TradingView. Old professional traders usually use their own purchased software or the classical MetaTrader, but personally I think TV has a much better and easy to use interface than any other charting software out there.

Fundamentals arent always precise when you do rely on making trading entries basing on what you do hear on.

Tools being used either fundamental and most of the time with technicals.Combining two things rather than focusing on one.

Tradingview is enough for me but analysis will vary into each trader.Just seek or find on what system of trading do works for you then
you should stick on it.

Tradingview and whatever social media the coin you're trading generally uses are really all you need. It's pretty self explanatory why you need Tradingview. The social media information is key because sometimes you will see a huge, almost instant fall off and you'll want to invest at that time. But, you really need to go check the social media and see if there was some important reason for the fall off and decide whether or not it's worth the risk.

Depends upon the interval you wanna trade.
If you are looking for long term. Look for a decent bottomed out entry and leave your investment until there is some massive bull run where you can exit and buy back in after the correction. For that you don't need much of technical knowledge or news updates. Basic idea and general news would do.
If you are up for short term or day trade. Sometimes technicals are more than enough. News could help only if you get it before everybody else. Mainstream crypto news won't be of much help.

Even we're looking for long term investment, i think we should learn more and analyze more of what we going to invest because investing in crypto currency is 50:50 , either we will have so much profits or we will lost of our assets because random investment on a coin would be so dangerous in cryptocurrency, many scammers and dead projects.
We should only invest on a coin that has good credibility and have big community so the coin will survive for a long run

All of those are important but also unfortunately, TradingView is also not enough. If you really want to be a trader then you have to put in the time and effort to do the research and analysis across multiple platforms. You need to keep updated through crypto-related websites, Facebook trading groups, and even Twitter.

More than that, it might also be a good idea to start reading trading books.

First one is the most important ones. Generally we are not aware of insider news and whale movements so the thing we can use to generate us a profit are news. As the crypto market is highly volatile, every bit of news brings change in prices. If you are first to read it and react, you'd than be followed by sheeps of investors. And you can make a profit before the trend stops. But if you are late by some %, don't follow others.

The first one is good for some people who just started trading but it is not recommendable in the long run. What you need is a fundamental analysis on your own so that you won't have to vary your actions due to the news because some of the news and articles are fabricated. Doing so it would still be difficult because of the volatility of the market but at least you're not far from the result.

The most important thing a trader needs is a lot of capital, because most traders aim for a 1% daily return, that means that they need at least $10,000 to make $100 a day. However, very few traders can get this kind of returns. also, As a trader, it is more important to know that you will always follow your rules than it is to make money because whatever money you make, you will inevitably lose back to the market if you can't follow your rules, and leave your discipline.

At the same time you need to develop your thinking which typically comes from live trading experience. the market is your teacher, and As you trade over time you will learn what works and what doesn't. you need to learn basic technical analysis, chart reading, fundamental analysis, and risk management, and the most important skill is to fully understand how the way you think affects what you do which affects how much you make.

Yes, the capital, constant update on things going around the coin you have chosen to trade, analytical skills and experience on it by studying the chart and trend moves, choosing the right coins with best services and projects and finally patience is the key to succeed in trading. Once you have invested into a coin after a complete study, just wait for its hike, do not go for panic selling. You need to get used to whales move and play accordingly. This comes only after a huge and continues experience.

All of those technical matter are greatly needed in order for you to become successful in trading but you should also pay attention on the attraibutes you need to attain to completelt be a great trader. You should be smart and wise with your decision making whenever you are trading, always make sure that you monitor the market value of the coin you are trading. You need to make sure also that you don't give your trust to anyone easily or else you would end up experiencing fraud and scams. Be patient always too because things here requires a lot of time before getting in good shape.

First of all good trader needs knowledge and information. Then all those techical things like charts, analisys and everything else along with following news. But be very careful with news sources and especialy don't trust social networks.
What will help you the most is experience and self confidence but that comes with time.

How about coffee? A lot of it. Or if you don't like it you can choose coke or pills. Most pro traders are users addicted to whatever they can find starting from caffeine and and ending with hard drugs.


And money, don't forget about money. Without money to trade with a trader is as good as a car without fuel.

Sometimes traders have bad result in trading because they trust easily to the news in social media so I suggest next time better to know the real news or information before we take an action becaude for sure many of that people wants to see other people to suffer so they spread news that are not true.  Knowledge is very important in trading to know what do and don'ts.

You should be able to answer this question through a few google searches. But basically NO, tradingview is not enough, no matter how many analysis you read there, you will always fall short if you don't explore all possible streams of news.

You have to check crypto-related blogs, facebook groups, telegram groups, even twitter. You need to know whats happening and you need to read books about trading. If you want to be a successful trader that is.

Reading news is very important for a traders, wherein to become updated  everytime about the market situation.  And also using a platform and tools is very useful as well but make sure to choose those had certain things which can help you to prevent risky situation. And lastly trading views is not enough wherein must make a technical analysis always to assure everything will be under control.

If you add "manage your feelings" to your list and stay on track, you can succeed. You should set certain rules and these rules should be at your side in every trade. Then, you should learn about how to make money in trade. Also never expect big profit. Always calculate your earnings in accordance with the interest on the money in your balance. The possiblity of 10% is the same, it does not matter you invest 100 or 100k.

Aside from the things you've mentioned above, One thing you should add is How to keep your emotions together. Emotions took great part in how well you performed as a trader. How not to be Fomo-er guy or panic seller.

Only trading view is not enough, you need to combine both technical and fundamental analysis. But sometimes news could have quite a big of impact, so yeah, be smart.

You must be able to balancing them (reading news, use tool if you think it will makes comfortable and know the ins and out about it, and your also your knowledge against analyst of trading). Each person will have their own strategy and you should have it, that you can count on.

For my self, I get used to use my strategy and do that I mentioned above according to the needs and the situation. If I got an useful information that I think it will makes prices move down and up then I'll choose it. But if the market movement is suitable to use technical analyst then I'll choose it. I think this strategy is really needed by all trader.

If you want to become a good trader you must have a lot of knowledge about it and you must keep on learning more new things. Reading all news about trading might also help you and I know all of us use some tools that guide us on doing trading. As a trader, you should always control your emotions and try to make your own analysis of a certain cryptocurrency. Lastly, make sure you will use a trusted and reputable cryptocurrency exchange so you can assure that your funds are safe and secure.

Knowledge and experience. That includes losing a lot of trades in the process. There's no assurance in trading so a trader should be able to manage timing and his capital. Proper expectations as well that not everything will turn out the way you expected. And lots of patience. The market can push you to your emotional limits. It's a matter of always being prepared. Technical skills will come in time.

You already have the answer you just need to go in some details where will you find the relevant data or information that you want to know.
News it is a good thing to have an possible idea to support your coins/altcoins to trade.
Using platforms ofcourse
Tradingview isn't enough you must know how to use it and read charts.

Skill to analyze chart, or maybe price of each bitcoin and altcoin. Good mental, because not only skill that we must have, but strong heart so we are not easily affected by price movement that is really fast. I think most important is that 2 thing, because once you gert panic, you will careless to make any decision which can make you lose in trading.

Just like what you have mentioned, reading is a big help. Not only news and updates but you can also read some stuffs giving information how to be a good trader or what are the essentials in order to be a good trader. Everything can be learn by reading. There are a lot of site or blogs that give tips howe to trade. Dos and donts. So continuous reading is helpful. And if you experienced losing, that's fine. A saying said that experience is the best knowledge.

You need to make profits that is the point of being trader for that you may have to spend time to analyse the real world and plan your strategies based on this but nothing is 100% accurate when it comes to crypto so nothing will be enough and even anything will be enough.

If don't have technical analysis skill but still you know that you can make profits by selling it high price and we have to wait until that no matter of what still he is a trader.

For a trader to be sound in his or her trading, there are so many things that is needed, and some of the vital things needed are the things you mentioned here, and one of the most important thing is first to have a very quality knowledge about it, so what we need to go for first is good training, it is through training that we will have some strategy developed which is the second vital thing that we need.

After we have all those mentioned, we can them be listening to news for fundamental analysis, while it is strategythat we need for technical analysis. It is also extremely important that we make use of trading platform that will make our trade easy, and platform like binance would really not be a bad idea for any new beginner or pro trader to use.

Want to be a good trader? then you have to know every ins and out of trading, you need to know every detail about this issue, firstly, you must gather knowledge about the current and recent past market, also you need to be able to predict what's coming, what may come, before entering this trading platform, you have to be very technical, when you get a lot of market chart then you need to take very quick decision regarding every segment, instant decision making capacity could reach you to the ultimate goal, of course, you should control over your emotion, don't take any decision based on emotion, I think every market-related information is necessary for a good trader.

In my opinion, all that a trader needs is an understanding of where the market trend will move.
To form this understanding, a trader needs experience and the realization that the cryptocurrency market is constantly being manipulated.
Due to the high volatility of the crypto speculation market, it is a favorite occupation of large players, which means that even if you read the market trend well, you can make a mistake, because often not everything depends on the natural processes taking place on the market. It is difficult, but it needs to be learned.

Enough with such crap ideas mate. Basics will get you through and let the the experience such as losses be a thing for you to improve. You won't get any farther by just asking with loads of ideas. Try to step up with yourself, and you'll find what you are looking and what are your short comings. And try to improve those. Do what you know, change what you need to, and improve what should need, and add what you don't have.

make trend as our friens was not easy.many traders could not survive and failed in their trades mostly they make mistake identifying trend.trend was very crucial for each traders .by learning and practice we will slowly understand which trend is running now.daily high volatility also be the reason ,why we make mistake when set the trend.there are two kind of trend that we have to learnt,and it very helpfull when we could differentiate. First was major trend ,it could identify in daily time frame and minor trend that usually in daily tf such as 1h 4h .when we could identify major and minor i am sure we will survive.

You have the basic information that you need already, what you need to do next is to choose the trusted site where you want to get the latest news and use the platforms/tools that you can easily use so you can trade without any problems.

You can start by small trading so don't have to worry if something will happen and you need to adjust in order to gain a proper profit in the next trade. Once you are already comfortable then you can maximize your trading volume.

For a start, yes that would be enough.
The most important thing is knowledge to determine where prices will be in accordance with a comprehensive understanding of market behavior.
The last thing; the lone wolf may not get better results compared to the wolf pack.

These are the basics that we need in trading but we shouldn't just use, it's important that we'll choose especially when it comes to tools and platform. Knowledge and understanding of the basics of trading is the best weapon that you could have before entering trading. You should know how to deal with the market as well as your emotions.

Traders need a lot to be successful in trading. One of them is patience that is really difficult to resist especially when you are in a bearish situation. And this is the only thing to overcome, so you can stay calm in the turmoil of the market and think carefully about the right steps to take.

Alot of what ? You need to be specific because alot word is too general  but when you say patience ( alot of it )  that is one recipe to be a good trader  because not all times there is an happy hour or happy times  but sometimes we also need to take a rest and be patient while the market is still sleeping or recovering.   There are still people that can't become patient especially when their coins are in a critical state and they are likely going to fail

Identify what coin you are going to trade first.
List them, look at its history, the price dumps and pumps from the recent time.
How far could it go.
Is the coin still being advertised in different websites or social media?
That is likely how you will think to every coin you will add to your list.

This depends on your trading style, you probably need tools if you want really high frequency trading but i wouldn't do that with cryptos.
I've seen succesful traders using only one laptop and some slow frequency swing traders using only their phone.
What you really need is information and do some serious learning on ta, and if you trade fundamentals and real world event based news fomos. You need to learn about the project and be step ahead.

But in short, tradingview is enough for ta. Just keep it simple, too many indicators is just making decision executing slower.

read more , learn more and do more.

even if you have 100 million usd to trade and targeting as low as 0,1% daily , you will get busted sooner or later, why? because the bigger money you have in your wallet to trade , the bigger pressure you will get everytime you are going to make a decision to buy or sell.
it is better to start with reasonable amount , get lost try again and repeat until you learn someting from it and changed you into a better trader.
that is why i encourage every trader to read more, you will get an advice from experts by reading books.
learn more, you will gain experience when you learn from the mistakes you have done in trading.
do more, you will learn a lot of new things everytime you have done something in trading.

pretty simple if you do all of those in disciplined.

I agree  this two is important, knowledge to know what to do  and experience to not commit the same mistake in the past and when the same problem occurs, you know how to tackle it. I may add the confidence too,because if you lack confidence you get rattled and nervous when something is not right with your trade. Emotions and nervousness follow, and you mess your trade.Knowledge and experience helps build  confidence.The more experience you have, the more confident with your trade.

The most important thing a trader needs is to to know what he is doing and why he is doing it, many times I find that traders just buy a coin with the expectation that it will go up in price, but if you ask them how much money they expect to get out of that trade or how many losses they can accept before they close their position they do not really know what to answer you, those kind of traders quickly lose their money and then claim this market is manipulated when they are the ones that did not knew what they were doing.

I can agree with that. I quite often see crypto TA influencers on social media clutter their charts with lines, moving averages, volume profiles, and so on.... how can one not get confused by so many indicators?

I use a few indicators that work for me and keep my chart clean to not lose sight of the actual sentiment and trend within the market.... the more you clutter your charts with lines and indicators the more insecure you are as trader.

It's not difficult to find what the trader needs. The first time, the trader needs to know where he can trade. Maybe he can read on the crypto news every day so he can add more knowledge to himself. But to analyze more, he needs to learn about learning the analysis so he can do analyze for the coin he wants to buy. That is not easy as he needs to practice more and more so he can find when to enter the market. He needs to select the right coin, as that is what he needs to find if he wants to make a profit.

But all will not work if he cannot learn about trading because many traders give up when they need to learn. Many of them are the group signal, which cannot give them the profit.

for me, first read the news, after getting the news then go to the coin that was preached. after that make a chart pattern, after it is formed then determine the buy and sell positions. and the next is waiting. noted: buy when there are rumors, and sell when news releases.

The reason why i asked the main question (what does a trader need?) is because i think that i sometimes overcomplicate and over analyse everything (same for other things in my life).
I have basic knowledge but don't feel comofortable to start daytrading (which is my wish)
Would like to make the process as simple as possible, systematically.

There was a post (not sure which category) talking about this matter. I firstly took it as a joke but it's actually really important, what scares me is the part...no matter how much time you invested to get experiences.

So tracking each coin you own on social media? Being constantly up to date with their progress/work?
Or did you mean following 'general discussion'/news on social media?
Thank you!

What i'm lacking is the question i ask myself everyday. And i don't have much time lately so i'll probably just stick with reading news and looking at new coins etc.. Thank you!

You have to work on that part over analization will end up with nothing. That basic knowledge is all you need as of now master that basic knowledge try to figure out how can you apply it well in your day trading activity.
Don't overcomplicate especially using tools and indicators. I will give an example :

Trader A use tradingview and he knows where is the support but he keeps on adding many tools and indicators so the tendency his Technical analysis will become completely complicated
Trader B us tradingview he only plots support and resistance and use 2 or 3 indicators and tools so he can decide quickly and analyze the chart effectively with the other simple details.

I'm sure this is the first rule of trading and other activity like gambling.

Ideally you don't want your decision affected by your feeling. It doesn't matter what you feel, happy or sad, both could affect your decision making and that definitely could ruin your valuable experiences.

Ill think all the question you mention are now answer from the people knows about trading in here and you need is how to use those answer mention in actual trade. Maybe you can do it by yourself  you are interested or want to learn in trading.. And I dont have enough information or strategy in trading can I gave for you so, All i can say is be patience in trading ill know it was to risky while in trading need time also to rest and earn more profit in trading.

A trader always need to be in touch with the latest news in the market and regularly monitor the market growth of coins in which he have invested and try to avoid unneccesaary losses.Trading platform is essential where will trade his coins and can use tools to enhance his skills.Moreover he need to have knowledge and level of skill to trade profitably in the market and vision to survive in this highly volatile market.

Those are enough. There's one, if you are using an exchange that do not have alarms when something is hit, an app like Blockfolio can help. Outside of those stuffs, you have to be not greedy, stop being emotional, stick to your plans and last but not the least, you need to have some sleep. ;D

In my own point of view, a trader doesn't really need trading tools like trading bots because some traders only used trading bots to manage their trades while they are away. A trader sometimes needs a guidance from a professional trader because they needed help to decide on their trade, that is why i always watch videos on YouTube for me to know other strategies that i could used in trading to prevent and minimize my losses.

All of these are needed but really, a trader needs to have patience and lots of it. Trading will really test your patience and will push you to your limits that's why it's a necessity. Also, what you need to do as a trader who's about to start, control your emotions and don't let it do otherwise, you can expect that you will be experiencing lots of excitement that could lead you into doing things impulsively at the spur of the moment, or experience panics as the price of the coins drop down to the pit. Bring these two with you for these will be helpful.

As a trader, I don’t really have list of expectations. Instead I just prefer peace and facilities to be relaxed. And this helps when you have broker like FreshForex. I feel highly in peace with them. And more importantly, I feel secure under them which helps me to trade well. And this is really what any trader wants.

When I am trading I really need some sort of alerts to either my mail but if possible SMS as well to my phone, or at least notifications as an app to my phone. That is not really available in most of the exchanges. Like when bitcoin goes down or up it does notify me, that exists but I want to setup alerts to myself, like for example "notify me when bnb drops under Bollinger band x level" or something like that, it would be such a great time saver.

I hate to check these stuff, I can trade manually instead of using bots for example only if I had some alerts, that would make it so much better. Email works too but I am not checking my email all the time so any app notifications would be better than all other options for the indicators to hit what I want and get notified about.

Due to rumors/FUDs lead collapse whereas news/announcements lead up-surge? I guess most traders are already doing these on their own but like any other strategy this also will not help to catch the exact turning points. I just want to conclude that traders always need to watch news.

Anyone that has been in Long-term investment should really not find it difficult to be patient in trading because they have had this experience for a long time now and the patience needed in trading is not going to be as long as the one we have experienced and gotten used to during our long term investment.

Patience is really needed and also, there is need for us to work on our greed level too, because one of the things that do destroy most traders is this issue of greed, many traders are so greedy when trading and they because of this always miss the opportunity that is always available to them to sell at the right time, and when they refuses to sell, they end up getting trapped in the market for a long time after they must have lost the chance.

I think using platforms/tools don't really need it, but reading news constantly it's important because most traders must know about the news what is happening and what will happen in the future, so that it can analyze price movements because the trading proverb says to buy when rumors, sell when news.

Reading news has little to do with how well a person is able to trade.

I think the most important thing that a trader needs is experience. Trade lower volatility markets and see if you can make a profit, or even use the demo function on a platform like Stormgain for a few weeks until you get the hang of things.

If you can't profit on a demo platform, don't even think about risking your money just because you read some BIG NEWS.

Some said the most important tool needed in trading is T.A and news updates. many people sticks to methods and a particular procedure. the funny thing about trading is that you can still get rekt. the most importnt tool needed in trading is your mind. if you can control your mind effectively against bulls and bear movement, you will survive. this is my opinion. it worked for me.

All three of which you call necessary, basically they have to know the crypto market that is strategy, information, analysis, trade and technology. With an understanding in all areas of the crypto market it is just how your expertise and experience to cultivate it all become profit in the cryuptocurrency trade.

1. Need to track your emotions
2. One must know the technical and fundamental analysis
3. Every day you need to record the results and make analysis like here (https://neironix.io/ru/news/numbers/analiz_kursa_bitkoina_na_5_noyabrya_rost_ranka_na_fone_vhoda_bolshih_obiemov_v_bitcoin) to better monitor the market
4. It is an experience:)

Thank you! Will definitely do Binance with some tools as guidelines.
Would you recommend any sites in particular for tools? Looking for sth to manage portfolio as simple as possible.

Yes you are right, it depends on the trader, there are a lot of trader with different experiences and those experiences could be their teaching instrument in their everyday trade now. Some of the good trader dont know any tools that might help them, they just do some sample trade, download sa ebooks or buy some books to help them read the charts, they are too emotional at first but eventually, at the end of the day, they all know this and they are good traders now.

I am sure that a trader needs to develop confidence and discipline in the first place. You also need to constantly develop and gain new knowledge. News should not come first, but they are also important.

Three things I can tell you a trader needs the most - Cash to fund his trading account, 2 - knowing the skills for trading and 3. Control of his/her emotions. Once these are taken care of, the level of success is guaranteed for any trader.

As a new trader, you can't avoid platform tools and sometimes even as an old trader. However, when using such tool, you can modify the settings to fit into your trading strategy. The tools have different settings and can be adjusted.

In order to answer this you first have to ask yourself: What is your trading/investing goal? Do you want to purchase a long-term investment and hold it for years, do you want to day trade? etc.

If you want to swing trade/day trade, your most powerful tools are order books, charts w/indicators, and trends in recent trades.

If you want long-term investments, charts might help but fundamental research of the team/company behind a project, product market fit, competition, and other factors.

I don't think there is anything you should neglect. All are important, so if it's possible for you to add everything on the list then you should do so. Anyone who is a trader has to be current with the news and not miss out from what's trending in the cryptocurrency market.

You should learn everything you need to learn about cryptocurrency and about trading, so you can as well have the skills. You should also be aware of the risks of trading and how to properly manage them so that you don't lose your money. You can make use of stop loss to stop further loss of money when the price is going down. And the tools you use are good too if you can get one that will work for you.

Analyzing news is just a small part but for being a trader we need to know how to make profits in any way we can.Try different kind of trading methods and strategies and find what you are good at it and which might suitable for you.Then concentrate on more.If you have lot of time and want to be a full time trader learn TA,maybe bots,following the influencers,creating your own predictions and compare with the most commonly used predictions.

Full time trader is my goal (in next 2 years). Like the idea with predictions, do you maybe know any website where i could compare these predictions? Is trading view the only one which is useful?

Will definetely use a combination of everything, stop loss is a way to go for me.
I have a hard time being on track with news and everything atm so i'm seeking to some shortcuts.
Thank you for help!

Which tools exactly did you have in mind? :)

There was a thread on controling emotions which i can't find right now. I'm not the experienced trader here but can imagine how tough can it be when closing/opening positions with a big sum of money.
Will stick to first plans when i get there.

The Stormgain site is not opening right now but will definitely look into it.
''If you can't profit on a demo platform, don't even think about risking your money just because you read some BIG NEWS'' - AGREE- thank you!

In my opinion handling stress and control emotions while trading is the most important thing a trader needs. to be a successful trader, you need to be financially as well as psychologically ready to bear the loss. When we lose money we become more emotional and invest more money in order to get the lost money back. But that is the time we have to control our emotions and should act as a disciplined trader to avoid such type of emotional trading. Hence If you are knowing what you are supposed to do or what you are doing then there is no stress and emotions. If I are trading without knowing what you are doing and trying the luck then one need to monitor them.

A liquidation tracker maybe? https://bitcointalk.org/index.php?topic=5199826.0

no no it's not a thread hi jack  ;D

good luck

quite simple, which is reading the news and looking at candlesticks.
reading the news is the most important in my opinion. whatever the news, usually will have an effect on market movements even if only briefly.
practice it directly by adjusting the settings on the candlestick and place buy/sell positions, and also do not forget to always use Stop Lose and Take Profit.

For a trader, the most significant thing is to keep himself up to date. He must stay with the changes and predictions. This will certainly help him in taking right decision at right time. Moreover, he should also be able to differentiate between fake and real news. Other than that, he need to implement that knowledge as you said in a way that the basic rule of selling high, buying low gets fulfilled.

In this case the main point is to synchronize the updated news and the candle itself, when you can make both of them have a uniform path then the possibility of the news does have an influence on the movement that might occur next. In trading we are not only able to focus on one point, for example news or other things, because at least there will be other factors that will make trading even better with many references obtained.

Most likely they do this to seem smart, a newbie looking at that many indicators may seem impressed by the skill of the trader in the video but we know better. And there is an even more important reason, if you combine enough indicators you may come to a combination that seems to predict the market with perfect accuracy, this is called overfitting and for the inexperienced trader this may seem like he has found the perfect system, but his system only predicts the past and cannot predict the future.

People have greed in them naturally, but ability not to control is s what becomes a problem, and this is why many analyst would advise that before getting into a trade, we have to learn to always try to control our emotion first at any point in time, if we can control our emotion about greed, then I doubt if there is any increase opportunity that will pass a trader by, and if we find  it difficult to control our emotion, I think that there has been lost of tools that has been created like that of stop loss and take profit that can assist us in learning how to control our greed if we can always set It.

When I first started my own trade too, I found it very difficult to really control my greed, and pending the time that I was learning to naturally control it, it was this stop loss and take profit tool that I was using.

I believe the major problem crypto traders had was lack of knowledge and aware of new occasions about the market cause even when greed and emotion took over a trader, knowledge is enough to make the trader thrive and avoid loss. However, a lot of trading tools were indeed implemented to make a profitable trade but the last time I check those tools still need some unique setting before it could operate perfectly.

The list above you mention is best tools answers in your own question I add in your list as your guide as trader decision making is the best way tools also as trader always decisde yourself independently.






Exactly mate monitoring the everyday the latest market trend news is very important needs as a trader to analyst the narket situation how to make decisions buy potential coins to get earn.

Reading in the forum most of the time can give surely an additional idea and knowledge about in trading, aside from keeping yourself update in any of the crypto news site. And as a trader you need to know also the proper attitude when you are in the actual trading platform too. and I think watching tutorial also might give you also a good idea too.

There's a lot of trading tutorials here and over the internet so there is no excuse for us not to learn trading especially if you really want to learn it. But, we can't learn trading if we will not start now, we should start now or else time will come we will regret for not studying trading at first when we still have time. We can do trading even during our spare time. This forum also helps not only in trading, but also technical discussion when we prefer doing mining too.

Of course you need to read news constantly to keep in touch what's going on around bitcoin, cryptocurrency and blockchain technologies cause sometimes that happens when one hot news like ban of bitcoin in china for example or hack of exchange or one exchange decided to stop withdraw for a while, I want to even remind you the moment when coinmarketcap decided to remove some exchanges from it's platform which affected bitcoin price. So in overall, yes, you have to read news around it.
Platforms/tools help you to create some mathematical analyzes which can also help you in trading cause sometimes charts repeat.
And what do you call trading view? When your ego tells you to buy/sell bitcoin or any other cryptocurrency? Well, I will tell you that luck is also major factor in trading.

While you can find information about how to trade all over the Internet very few of those sharing that information actually trade for a living, so they do not really know what it is needed to make money in the markets, so when you begin to read information on the Internet always ask yourself this question, how does the person that wrote this article earns money? And if the answer is anything other than trading then look somewhere else since the odds you are reading junk information is high.

Trading tools and assets to trade  ;D My favorite trading tool i use on a daily Trading View, mainly due to its feature of over 100 indicators and over 50 charts, which allows me to create bespoke charts to suit my trading strategy. Secondly, TradeSanta comes in handy as it helps me make a profit even while I sleep through its ability to automate crypto trading.

Emotions are going to be a poison for us if we will not control it properly because mostly we will not notice it until we have lost some of our money, controlling emotions will lead us to a better decision in our trades which can help us lessen our loss and indeed no matter how good you are at technical analyzation if your emotions are not stable then you are at risk of losing.

Those are nothing but accessories, what you need is skill, and if you don't believe me then you should read about the lives of the traders that lived many years ago, before the advent of computers traders needed to draw their own charts and they needed to calculate their own indicators by hand and then draw them by hand as well, and yet many of the theories of those using those very rudimentary tools are still used by people using the most advanced computers available today.

Tradingview is a good start! But there are definitely other resources and news sources too. Reddit and twitter are always great for news. Just remember to always do your own research.

All the above to determine the sentiment of the market.

But for trading you need (from my perspective) 3 key points to master:
1. Money Management (you need to know how much you going to invest in 1-2-3 trades, knowing your balance, knowing how many hands you can have, knowing how many losses you can take, etc)
2. Risk/Reward (you need to chase trades with a good risk/reward)
3. Discipline (know when to go into a trade, don't rush, don't get sentimental, know when to stop, etc).

Those were the times. Imagine doing all by drawing, will definitely try to do it even if it's time consuming (and i'm a terrible drawer). :D

It's normal to become so emotional in terms of trading process but it depends of the user that can control their emotions. Basically, most in trading process makes us so emotional and have a possibility to have a huge losses. Likewise, the situation each of us become so clever enough by have enough experience and to learn our mistakes in the end.

This 'emotion' thing is getting concerning for me since everybody talks about it. I'm not new to trading but can imagine how it feels when starting to lose big money...will see :)

As a crypto trader needs to become focus and more than experience to learn about those, needs to manage on their trades. It will be a good way to make money on trading.

Broad topic :D
Trader needs patience and knowledge about cryptocurrencies, that's the most important.
Another thing is to have right exchange, safety first. I can recommend Kraken or CoinDeal.
Trader need to remember not to invest more than he can afford to lose!

Reading news always is not enough for a goid trades. Most of the time, we need to consider the chart and volume. Traders need to have knowledge in TA and FA profoundly. Because depending on news and signals are just opinion of others and we don't know how they find it. I better to depend on myself than to them.

In my opinion, most important skill of trader which will actually help him in becoming successful far earlier than his fellow, is knowledge. If he understand his asset, digital market and this profession very well, nothing can stop him from becoming rich. After acquiring this weapon, he won't have to work on his patience and tolerance. They will develop naturally in him. he should never ever give up. In exchanges, Binance is also a good option.

In Forex trading like gold/USD or currency trading like EUR/USD, understanding news is very important in my experience. Things like unemployment forecasts or economic growth predictions can reverse a trend and it happens often times. So with just technical analysis you could expect one direction, but some news or announcement, or Trump's tweet for example, can neglect entire chart pattern.
In crypto, TA is usually enough, except if some major news are released.

I agree. Knowledge is power. So if you have a lot of knowledge in your mind then you can outperform everybody in the game. Knowledge is the basic and most important thing that you need to have because you will be able to identify the things that you need to do in order to get into the place that you wanted to go. You can achieve knowledge by continuously studying through articles, videos online, courses and books.

yes, indeed those are things that are needed in trading. read the latest news I think will solidify decisions in trading. using tools is also needed when traders are unsure of the strategy they will carry out. and sufficient knowledge about trading is also needed to choose which coins can be categorized as feasible for trading or made for investment, because not a few coins currently are junk. and I add again something that is needed in trading is not to get bored to always ask or accept advice from other traders about their strategies or speculations in trading.

Being on track with news is essential and know how to implement the events in trading strategy is key.
Hehe the trumps tweet, can't understand how a man with a phone can have so much power under his fingers.

Don't ask it because that questions of yours is also you needed. it is for you if you improve more and find another way to improve your learnings in trading. a lot of wise traders are only observing the forum and find a result for their self. it is very helpful to manage the info you collected. just find a better way to have more and do a trader needs in any time.

I did it once and believe me it is boring beyond what you can imagine but it is also a great exercise because it allows you to understand a lot more clearly how your indicators work, after I did that I gained a lot more appreciation for what they did back in the day and also I was really happy of being alive in an age in which computers can calculate whatever indicator that you may like in a matter of seconds and you can display that on your charts and create a strategy around them.

The more the better. Why wouldn't you use help provided on the net if you can. Stuff like Newscrypto that have all in one place for traders are ideal for such situations.

But he/she should also avoid some fake or not legit news that will make people FUD. Because as a trader, there's also a FUD.
But some traders don't really on news or any articles, some of them are  in on technical sides, likes on chart, candle sticks, etc.
Thst's why you are also correct, the more the better. Just beware on those fake articles/news especially. If you really into technical side, focus on it.

Yes and choosing the right coin/tokens too, because there's a lot of pump and dump coins out there but in real life there is no real use case, so for me a trader should consider everything, a trader should be just like a manager from a company that needs to consider the advantage and disadvantage of a certain project that will come to their company before he will make a deal on it.

For me, cryptocurrencies are more risky than stocks. I'm both crypto and stock trader and I notice that crypto is more volatile than stock market. Right coin will help you to increase your portfolio. There are many shitcoins that keep dumping and we should identify first if the coin that you will buy is a shitcoin or not.

Everything in life requires risk, even when studying in 'College' you don't know what will happen after your graduation, and you don't know if you can finish your study and if you can handle it well, there is no really sure thing in this world, everything needs to take risk, even having a friend, partner in life is always a risk especially in investment which money is involved.

Yes I think this is enough for a good trader that he must have good stuff to get news about trade and Traders must have done good research before starting and he must have knowledge to fight against rise and falling markets.
in my opinion he must have time to trade for long term and I think the most important thing about trading is long term trading and making plan before trading.

On point. News can be falsify and misinterpreted and so depending on news is not that pretty much accurate to have a good trades. You need to know the technical side of trading such as reading the graphs, movements and charts to avoid fall on bear market traps. Another thing is the emotional response, good traders do not let thejr emotion conquer them as it only shake your decision making.

I don't really believe on opinion of others when it comes to trading, well there are times that they are correct but I see different perception towards the market, maybe they anticipate it or they just correctly predicted it. What really matters is your own understanding above all the opinion of others.

For those of you looking for good tips , here is also a guide i found that really helped me ! https://www.sendspace.com/file/1kmtls

with all that combined, you're only about 15% of the odds. I had heard about Warren Buffett's advice and he was right in the financial markets. He said that the financial market always has a special feature that not people with high IQ will have higher win rates, but those who need a combination of both EQ and IQ. That means that psychology contributes a very important part in a trader 's trading career and it makes it all. First of all, to become a good trader, you must be a good at grasping and analyzing the psychology of the crowd.

Yes, i totally believe psychology playes giant role in this game. I have a lot yet to learn... Thanks for advice!

When it comes to long term trading, I think the right term for that is investing because when we talk about trading, we are simply buying and holding it for short term and after we saw a progress on the market and gained profit then we will start to unload our bag and move unto the next one. A trader should have a solid technical skill so even there is no source of news, you can still trade well.

Long term trading is indeed somewhat equal to short term investing because long term investments are based on years but no form of trading takes that much time. Daily trade is done on hourly basis and short term trading is some where between few weeks or months. In case of long term trading, a trader might go up to 6 months but that is enough. Choosing the right coin matters the most to make sufficient profits.

Psychology plays a key role in trading, and not so much the psychology of the crowd as its own psychology. When you understand your psychology well, you will have the opportunity to optimize your work processes by minimizing the risks associated with the number of mistakes you make. You can also reduce the number of errors associated with things that are difficult to control. It is worth adding that it will be much easier for you to improve yourself, your psychological muscles and your understanding of trade.

This is the first thing a trader must have, we need to control our emotion since it plays a big role in trading , our emotion really affects the way we trade, do some research in every coin that we are investing so that we may have an idea if the coin is having a good way run or it will be a some shit coin in our wallet in the future.

Thank you for advice, appreciate it!

On top of what you mentioned already, you need to have a good internet connection and a good laptop or desktop. Even if you are very good in reading those charts and graphs, if you have a slow connection, you might miss a good opportunity to buy or sell. If you have a slow or crappy desktop or laptop, you will also miss an opportunity. So invest in this items too.

Besides basic knowledge of the industry and keeping up with news, I would say, that the most important thing is having peace of mind. A trader never should be nervous or too excited, which usually leads to making mistakes. And, yeah, do I need to mention that the exchange itself should be super stable? Without any overloads and other annoying shit. For me, I found that tranquility on Basefex. To be frank, I was pretty skeptic at first, but in the end, it worked pretty well for me.

I believe that's 100% true..having a stable plan and sticking to it is very important. I'm not a seasoned trader (yet) and feel a bit lost/skeptical sometimes. Agree also about exchanges. Thank you for your answer

This is why I prefer to trust in technical analysis than in fundamental analysis, anyone can try to create a fake news to try to move the markets and if enough people believe it then you are going to take the wrong decision just because you believed in a fake news, I prefer to watch the charts and let them tell me what they want me to do because at least when it comes to the charts if someone wants to manipulate the market they need to be willing to risk several millions of dollars to manipulate it and very few people can do that.

First, thank you for mentioning my article, I tried to do my best to list the best tools needed ;)
Second, When you say: "everybody is talking about it on CT" what does "CT" mean ?

In general it needs to learn to work properly.
 Yes, the right platform and trading tools are also important factors.
 The most important thing is to develop an ideal financial plan to follow it.

Not only this many other things need for a professional trader.Proper money management,indicators,technical analysis and the strong psyche of trader have great impact on trade.Emotions either badly affect your trader or emotions will helps out to take you from worse condition to change strategy and recover again what you lost.

A good trader never believe in rumors but make proper deep research and update with the market.Avoid to putting all money just put 2% of whole capital said by financial advisors.

You forget about physiology factors: emotion and patient. They are very important in trading beside technical, you need to control it in many suddenly situation in order not to make wrong decision.

You just have to do whatever you can to succeed. You already mentioned everything a trader should be doing and if you’re able to do all of them, then you should go for it.

It’s good to be reading the news because that’s how you will be able to know what’s currently happening and the things that are yet to come, though you should be very careful about the news you’re reading and the source it’s coming from because there are people who are out there to just spread fake news that would make you panic and nothing else. And secondly, traders make use of tools, it’s important and will help you to be able to predict the next move.

For me trading is a continuous learning where I keep reading different trading related materials in order to increase my knowledge. A trader like me need an information that we can use to protect our funds and also increase it. I fell inlove with charts and that is why trading became my passion. I keep reading and studying different trading techniques and strategies everyday that I can use in real life situation. I know that there is still improvement in my skills and also in my knowledge.

Yes a trader needs to perform all these activities. This is because each new day, the prices of the coins fluctuate and moreover it is something that takes place at such a large scale which means you need to keep an eye on all the progress that is taking place. Newspapers and electronic articles are best methods to gain quick glance of required updates that are focused on finance.

Depends on what you're trading on. If you're trading alts then yes you need to know all about the development regarding that coin. If you're trading Bitcoin, it's more complex as big things like regulation and world's politics now have effect on the price too. For technical analysis, yes trading view is enough. You don't need to do complex stuff when the simple ones work.

True. Also self-confidence, and knowledge. Self-confidence is a must, as long as you are equipped with the knowledge and know what you are doing then you are ready. Knowledge of Technical and Fundamental analysis is a good tool also to use which can boost your confidence in making positions.

Tradingview is enough if you got the skillset already. Reading news is basically meaningless. News is only for the masses to create liquidity in the market and any impulsive move gets corrected quickly and prices reverts back to it's more or less fair average. You should focus on learning about risk management and betting/gambling in general. Risk/reward ratio, odds etc. Tools can only magnify what you already know and are capable of so learn to use them only when you know what kind of task you are looking to do. They are to automate your tasks, not find a winning strategy for you.

yes, I think the three things you mentioned are very important for traders. keep up with the news constantly is needed, sometimes the news can affect market movements. but not all news will have an effect, you have to look for news from reliable sources.
using a platform / tool is also needed, I myself use a platform that makes it easy for me to trade and see market movements.
having sufficient trading knowledge is also very necessary, especially for someone novice, it takes a lot of time to learn and every trip in trading is a very important lesson for beginners.
and don't be bored to ask friends who already have good trading skills.

There are a lot of tips that came from the internet, and here is mine. Base on my own experience. In trading, you have to do your research what coin suitable for my trade as if for long term or short term trading. One of the coins that are good for long term investment is in bitcoin because it takes a few months before it has a huge change, or in short term trading that is good for altcoins like bitcoin cash or ripple.  Always research the market price of the coin you want to trade, and always trust your self and knowledge in trading, doubting the things you are doing may cause of loss of your income. Lastly is find the trading platform that is suitable for your needs in trading that is less hassle to trade, and that helps you to win your trading.

Indeed, what trader need is knowledge and strategy to apply on actual trade.

It takes time to become a pro tader and knowing the basics and other important things about trading is a must. There are many ways now to fill yourself with useful infos that needed when you trade.

In the end experience is the best teacher thats how you will learn to become a pro trader.

It's because experience can help you realize your own mistakes and in that way you can easily analyze the things you need to improve and change, learning takes time and effort but it will be worth it knowing that you have enough understanding to handle every problems and challenges that you may encounter. Traders need to understand that doing their own exploration might be a bit laborious but it can guide you on making a wiser and better decision for yourself because you can't expect that the outcome was good if you are not analyzing the possible result before making decision. As a trader it is your responsibility to take care of your funds and assets, you have to make sure that it's safe and secured particularly these days that people will always look for opportunity to take advantage of you. Though it depends on a traders mindsets because many of them are keep on relying on people's thoughts and opinion, it's not bad but you don't have to take it as a basis of your decision. It's the reason why some of us are feeling remorse regarding our own actions and decisions, we don't even have enough understanding how we can manage our trades and the things that we need to consider before trading.

I would say Trading view is not enough as it is just a tool were we can do TA, and back test our strategy. At the end of the day you need a exchange to get your bets executed. I would say instead of reading news use tweeter and bitcointalk you will get much more information. In bitcoin talk to read only there is no need to login only when you wan to involve in discussion you need login.

What actually required for trader are:

• Proper management of Credentials
• Authentication
• 24*7 internet
• List of reliable source of information(you need to make this on your own)
• Hardware/paper wallet to store funds that are not involved in trading
• Emotion and stress management skills
• Last but not the least. Funds to trade

You are never going to make money in the markets and I can tell why that is the case, because you are looking for external solutions to your problems, you are thinking about a tool that will solve your issues with the markets and your inability to make profits.

You need to ask yourself what you are doing wrong as a trader and how to fix it, once you understand that you can make profits in the markets, how much time have you actually dedicated to learn how to trade? Do you have a defined strategy? Have you tested that strategy? Can you evaluate the market to see if there are good short term opportunities? If you cannot then that shows that you are the problem.

analysis the price of coins is need to do by trader. see the price of coins in many exchange. i think if some one want to trade, he have to analysis a lot of exchanges to compare the price of coins and choice the moment of coins. always update the news is also needed for trader