Which knowledge is important for crypto trading?

[susila_bai]

If you are trading in Bitcoins then the main point you should remember is PATIENCE because if you had purchased on high rate then dont panic as you will get your price but if you are day trader then better play with stop loss. Same time if you are long term investor then you should buy in split and as soon as the price starts to pump then you should be able to take profit in this pump. For other altcoin trading you should be fully aware about the projects and developments of that coins which you are going to trade.

[dothebeats]

While knowledge plays an important part in trading, cryptomarkets are generally affected by only two things: news and demand. After studying the markets and trading, I've learned that the market will decide what direction to go depending on what news is circulating around. The China ban(s) is a classic example of what I'm saying. As for the demand, well it's pretty straightforward; if there's a large demand, prices go up. If there weren't, it will stagnate or go down. Again, you can't use traditional trading signals in bitcoin and cryptomarkets since those are completely different things, though can be somewhat useful in creating an analysis and research on where to place your next move.

[sukamasoto]

Understand to read graph and able to predict next trend !

So it's just same as when you're trade on wall street but the different only bitcoin value depend on supply and demand which I'm consider as risky investment since the price can suddenly change.

[syaripudin]

I think with you willing to start trading activities that will be the most powerful capital when compared with people who have not dared to trade. this I say because with you dare to start trading of course you will get experience that can be made lesson so that you do not make mistake a second time. maybe all you have to do is get more emotion control when you do trading activity because usually mistake is often done by trader that is adalalah where when crypto value is down there they will experience panic. but if you can control your emotions you will be able to read the movement of crypto market that is moving. I think if you have confidence over the crypto you are trading I think all you have to do is keep it until the right time when you sell or buy it.

[ss890]

I already started crypto trading. But i cannot understand how to get profitable in crypto trading. How to understand which coin is the best for buy. I don't know how to become successful in crypto trading. So guys, please tell me which knowledge is important for crypto trading. Thanks...

You can actually go through the journey of best trading from the forum itself. Look for the best coins to be traded in day trade and also watch out for the pumping groups around the forum. Make the collective data from all of this and try to hit that coin at right time and win the game. That sounds easy isn't it? But it's not. You have to study these very closely and let yourself dive into it for better knowledge and implementation of the strategies. This will give you  long driven in the world of bitcoin trading.

[iram3130]

Recent news about the coins, future plan of the team, team's background and their wealth, understanding the potential of a coin, coin's implementation and adaption, lastly it's community.

[nydiacaskey01]

I already started crypto trading. But i cannot understand how to get profitable in crypto trading. How to understand which coin is the best for buy. I don't know how to become successful in crypto trading. So guys, please tell me which knowledge is important for crypto trading. Thanks...

Welcome aboard and since you ask which knowledge is important, I think you can start with how to read those candle sticks, next is know if the coin is oversold or overbought at that time, that way you will know if its good time to Buy or best time to Sell. Next is know the right people, surround your self with people who knows about crypto trading and listen to their ideas but bottom line is you are the one who will decide which one to buy or sell. Join group chats that shares ideas not signals, you will not learn from those signal groups.

[Enzo 666]

for me best way to learn is loss because when you loss you will think more than 1 time why you loss and will find way to stop loss

[syberwolfen]

Recent news about the coins, future plan of the team, team's background and their wealth, understanding the potential of a coin, coin's implementation and adaption, lastly it's community.

Yes doing a proper end to end research before trading is very important like there are some users who get carried away by some new coins which enters the market and suddenly has surge in the value but eventually end up losing money by the failure and dissolution of the coin so we need to check the timeline of the coin which we will be investing as if we check the timeline and trend we will have an idea about the durability of the coin like even if it's price falls then it should be capable enough to come back stronger.

[pitiflin]

To be successful in crypto trading, you need to do your own research on the coins you think will give you a good return on investment. It would be perhaps better if you invest in reputed coins which a lot of users have trust in. Better not go with new coins right away,it will be hard for you to figure it out in the first place if it's a scam or not. After some experience that you will get, you can go for new coins. Be careful out there people will try to snitch.

[omonuyak]

I already started crypto trading. But i cannot understand how to get profitable in crypto trading. How to understand which coin is the best for buy. I don't know how to become successful in crypto trading. So guys, please tell me which knowledge is important for crypto trading. Thanks...

For you to become successful in cryptocurrency trading you most learn how it works first before putting your hard earned money. Developing your skills and techniques on how to trade professionally should be the basic of how to make good money from bitcoin and altcoins trading. Many people are losing their investment today because of how the have jumped into trade without adequate knowledge on what professional do.  Spend most of your time to lean candlesticks formation and pattern and how to interpret them will make you a professional over time and you will make good profit from the market.

[Ewinsane]

probably the most important thing to understand is that there are no guarantees and stability...

This is very important. In as much as we make use of information at our disposal to make quality decisions, there is no way we can always guarantee the market movement in our predicted direction every time.

The market is quite volatile and there is nothing that can be done since we are still in the initial adoption phase for now, hopefully overtime when adoption has grown widely and there is liquidity, then we may start experiencing a less volatile market.

[carlerha]

I already started crypto trading. But i cannot understand how to get profitable in crypto trading. How to understand which coin is the best for buy. I don't know how to become successful in crypto trading. So guys, please tell me which knowledge is important for crypto trading. Thanks...

I think most expert would say that if you wanted a lot more profit you should a lot of daytrading. Study candlestick etc.

FIRST IS TO KNOW MECHANICS OF COURSE. But I think the most important information in trading most specially in alternative coin aside from bitcoin is study the information and platform that this certain coin have. Choose a coin that you think has more potential in the future most specially if you have been aiming on long term holding of a certain coin. don't just believe on someone that would say that  'hey this coin will go to the moon, you should buy it', almost most holder will say something like that on all the coin they have. In short don't believe on just someones'speculation/ Learn to speculate a coin by yourself. See if their dev are active, if the road map really leads to a productive activities.

After investingtune in to the news about them. I think he news are important to trading, most news are manipulating the price and you should subscribe to crypto-news to be updated.

To me i think there i such specific knowledge for trading altcoin, but the generation information that are necessary for trading are required for trading altcoin. for example you must have some knowledge about the market, you must also have good information about the coin where you are going to invest your money. and i think the most important thing that you must have is your experience and trading skill which can really help you in trading altcoin.

[ajqjjj]

To be successful in crypto trading, you need to do your own research on the coins you think will give you a good return on investment. It would be perhaps better if you invest in reputed coins which a lot of users have trust in. Better not go with new coins right away,it will be hard for you to figure it out in the first place if it's a scam or not. After some experience that you will get, you can go for new coins. Be careful out there people will try to snitch.

Your own research will give output from other successful path in trading only by reading a article or watching trading tips videos in YouTube. To win in trading all the time you have watch the price movement continuously and make the money by frequent change of the value in trading site you are doing trading.

[coinplus]

I already started crypto trading. But i cannot understand how to get profitable in crypto trading. How to understand which coin is the best for buy. I don't know how to become successful in crypto trading. So guys, please tell me which knowledge is important for crypto trading. Thanks...

You should learn the golden rules of trading before you joining any trades my golden rules are:
1. Make peace with your losses so they wont disturb you future.
2. What other people think of your trading is non of your business.
3. Don't compare your trades to others because comparison is the thief of joy.
4. The Only person in charge of your success is you.
5. Stop thinking so much sometimes you just need to take action.

That number 4 really got my attention. The only person in charge of your success is you. Even in real life situations, you are the only one who can make plans, strategies, know exactly what you want to do, own up to your decisions and make the best out of anything you want to do. Don't follow the crowd, be sure of what you want to do as long as you know what you are doing, stick to it and own up to it even if you make mistakes and never forget that learning is very important.

[ivanst776]

probably the most important thing to understand is that there are no guarantees and stability...

Trading is considered a risky profession because of the volatility of assets. However, it is also a very beneficial job. Every problem has a solution and trading can be done safely. The foremost skill that can save a person from loss in trading is patience. In the dip season, the investors must buy more asset but people sell out due to panic. This is the worst mistake in trading.

[amaral1977]

I already started crypto trading. But i cannot understand how to get profitable in crypto trading. How to understand which coin is the best for buy. I don't know how to become successful in crypto trading. So guys, please tell me which knowledge is important for crypto trading. Thanks...

Holding some of the best established cryptos is the first step. This is a growing market and beat in day trading is not easy. Even if you profit its not easy to profit more than just holding the big ones, being BTC the biggest. That said you can still play around a littl. However i would not put more than 10% in day trade and if im bag holding, just assume the loss if you want to keep playing, or wait. panic selling is never a good option.

When you move from this first step and actually trade you should first learn how the platforms work, then which coins are around and what they are proposing to deliver. Is always best to risk trading coins you won´t mind holding if the trade doesn´st go your way. For instance i stil believe we can see a DGB spike and i have a small stash bought over 500 sats. As i like the coin, i´ll just hold on o it and see if it recovers because i believe it will.

then you might want to learn a bit about tech analysis. even if you do not do it yourself it is usefull to understand what people are tweeting about bollinger bands , fib levels or RSI.

When this is achieved maybe a year or two have passed and you might post again with new questions:)

[TagaMungkahi]

I already started crypto trading. But i cannot understand how to get profitable in crypto trading. How to understand which coin is the best for buy. I don't know how to become successful in crypto trading. So guys, please tell me which knowledge is important for crypto trading. Thanks...

I think you should still follow the basics which is sell when it's high and buy when it's low. Only entertain trust-able cryptos with good background and history and an active developers. Always remember the lat price that you sell and buy, that should be always your new markup. Overall, you need to know the basics on trading.

[romecheo]

Patience, self control and thorough studies on crypto currencies are most important, upon entering into the world of Trading, you must invest more of your time, no short cut available on trading.

[sayet]

What is your knowledge of yourself?

Traders fail most often because they have no control over their emotions. If most people did the exact opposite of what their emotions were telling them to do then they'd come out on top.

Does risking any amount of money make you nervous? Most people play right into the hands of the people who conquered their emotions long ago. They're depending on you to buy at the peaks they create and then sell back to them when things are looking their worst.

Think through how you've reacted to stress in the past and then decide whether trading is something that you'll be successful at.

Thanks for this write up.