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Yes, trading is not a game we can do as we please. Traders must have extensive market knowledge, traders must understand trading techniques. the trader invests an amount of money which will have a high risk, so trading skills are a must have. When it comes to games, this will not affect our mentality, we can start from the beginning to complete the mission.
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If young people just start using crypto during a pandemic, I don't think they will succeed during a pandemic.
Crypto takes time to learn and requires mental stability, because they are not ready to lose the money that has been invested. Given the pandemic that has created fewer jobs and increased unemployment, I don't think they are mentally prepared to invest.
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The method I often use in forex is the first to determine support and resistance. Next I use indicators that are easy for me to understand such as RSI and MACD. Although this does not determine a definite profit, but when I open buy and open sell it is easier for me. Often the methods I use provide an advantage.
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If you have ever implemented a strategy in trading, if it is true you can do it and work effectively. You should develop a strategy that you already understand. By doing more research and practicing better skills. With fluctuating market conditions, we need to develop a strategy according to the market's wishes.
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They're not worth it in my opinion, to be honest, I think that you're better off self-learning and at the same time gaining experience be it actual or paper trading, you're good doing those two rather than courses, most people that offer this course don't teach the secret to making money, they want to make money out of you.
I don't think like you said they are just to make money from us. Some Telegram channels even provide free courses. This started from the intention to learn trading techniques, if we are active in learning free things we can use them well. And for me needed more direction than experienced people when I was a beginner. |
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everyone has bad experience, don't see successful people in crypto never fall before, sometimes their experience is worse than ours. Use bad experiences as lessons for future investments. I think there is no need to leave the crypto space, the right step is to study harder, improve skills and improve mental stability.
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Cryptocurrency trading is the act of speculating on cryptocurrency price movements via a CFD trading account, it is quite risky buy extremely profitable it is not a game, game has a different definition in gaming you need to play before you earn so trading is not really a game.
That's right, Crypto is not a game and it is a place to realize financial freedom. But don't speculate completely about Crypto, all traders need skills and techniques in doing future analysis. Speculating in my opinion presents a big risk, and for me is also not justified. |
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I can say this is a bad idea, even skilled traders if the capital solution for trading is based on borrowed capital, I think this is a bad idea. no market conditions can be said with certainty about the way forward. Crypto may present a risk of loss, and not everyone is ready to face the losses caused by market dynamics. So if trade from borrowed capital, this results in financial threats.
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Trading cryptocurrency aren't for kid's , it's for people with matured mind. Going into cryptocurrency trading , one have to build up is mindset to be patient to trade for a long time. One of the problem that affects traders during trading is that they think so fast to make profits . Trading cryptocurrency for a very short time always is not the best as a trader . Successful traders I have come across go into longtime investment , trading is not just acquiring cryptocurrency but trading comes from the mindset. If the mind is not on positive direction it can result to bad outcomes. And at this point now that the cryptocurrency price is low it's best time to go into longtime trading that will yield good profits in time to come.
So, do not be too hasty to make profits , short time trading don't pay much
Of course, every trader needs to control himself in trading so that he is not emotional and hasty in making decisions. All traders do have to be patient, not all of our trading results get in a short time. If you say to keep waiting until the market is favorable for us, I think the decision to hold is the final decision. and this should have enough money for daily needs. |
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I have no experience as well but base on what i saw around the internet when i was new and seeking for specific info about trading, when it comes forex it seems almost the same with crypto, specially how to use the tools and making strategies, and of course how to make TA on it. Wherein the difference only is the assets. because crypto is more on volatility that's why alot of traders sees that crypto trading is more profitable than forex, . There's no big differential actually in my personal opinion..infact they're both risky as well.
Both are risky, but the risk posed by forex is higher in my opinion. Although the techniques and indicators used are the same, in the trading period the initial determination is the final result. This means that we cannot change the trade for the long term if the market does not match our analysis. |
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Yes, I agree with your thinking. The strategies used in the past are not 100% effective for now, we must be able to condition the strategy with market conditions. This means that it is necessary to update the old strategy so that trading is more effective and various risks of loss do not occur continuously. It is very difficult to predict the market, for me every time I start trading I always make a strategy change considering the market is very volatile.
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For me there is no need to leave trading, as my motivation for not leaving the crypto space are people who are already successful in crypto. I always think "I can definitely be like them" this is the mindset that I always wake up when bad things happen to me. Crypto cannot guarantee for a person who is not confident, someone who is successful in crypto has confidence, skills, extensive knowledge and mental readiness in trading. it is not easy for us to profit if there is no belief in correcting the mistakes that have occurred in the past.
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Yes, that's right, most likely the Bitcoin ban happened because government officials never used Bitcoin or transactions in it. As you said, young people are more dominant in using Bitcoin, this will have a big impact on Bitcoin in the future, government officials will be replaced by young people and they know the positive effects of Bitcoin. even countries that have replaced new government officials and are filled with young people who use Bitcoin, they can legalize Bitcoin in their country.
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Hi guys I’m new to the forum and I’m new to the crypto world.
I would like to know if there is some method on how to understand when the market is going to dip or when the market is going to pump.
Thank you in advance to all of you
Actually we cannot predict when the market will dump and pump accurately. Let me know which Alt you are going to trade, so I can look at the chart and provide analysis of future movements. At least this helps you as a basis for re-analyzing market conditions. If you have learned trading techniques, try to determine the resistance and support lines. This technique will also help you analyze the market going forward. |
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A person who is successful in crypto is determined by skills and extensive knowledge of market conditions and situations, using full time every day is not a big factor to achieve success in trading or investing. It all depends on the technique with a good analysis of market conditions. There are times when we leave trading to enjoy life and complete other responsibilities.
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The capital spent on mining at this time is also getting bigger, in addition to expensive equipment, the cost of electricity also makes me hesitant to mine. For me, between Holding and Mining I prefer to do holding, this is much better in terms of energy and time that we use can be more efficient and can be used to complete other work.
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You can see it ranked in the top 50 on CoinMarketCap, make sure the Altcoin you choose has a large trading volume. What needs to be underlined is the difficulty of determining the investment period, if in the medium term like your target does not achieve profit then you have to be patient for the long term. You have to be very observant in making decisions.
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I see Bitcoin is running normally, there is no impact at all due to China banning crytocurrency transactions in their country. Cryptocurrency is a wonderful technological idea and as a financial freedom solution for users and investors in it provided they have skills in trading. China as a country has its own reasons for banning crypto, I think it can disrupt the country's finances and worry if fiat falls if crypto is legalized in their country.
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This is what traders face who do not have enough money to meet their daily needs. the first step a trader must do is financial management, for me investing all the money in the pocket to trade is a bad way, when the need is urgent many people have to accept losses by selling when the price falls. So it's important to share our finances, no need to invest everything. Save some for other needs.
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People want to work when they know what to do. Trading in crypto requires only the basic technicalities of figuring out what good Altcoins are the most in demand in the market. When we monitor market conditions more often, we will know which Altcoins are good for us to invest in. It's better now if the investment made is a long-term investment. Finally, we have to see the right time with strong analysis for some time in the future whether it is suitable to buy or not.
Altcoins that have a large daily trading volume are suitable for usinvest. And some basic indicators must also be owned by beginners to make it easier to analyze the conditions of market movements. Investing in the short term and long term for me depends on the profit target, if the profit target has been achieved then there is no need to hold it. |
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