Which knowledge is important for crypto trading?

[kkofor]

Trading skills and Behavioral psychology are the important knowledges for crypto trading. If you are good at both of them, you will always win the games

[ArnoldChippy]

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...

The important thing for crypto trading is keep practice and emotion control. Practice make perfect, meaning for there you can get experience to help grow up skill and understanding about real market works. You can choose any strategy, but keep practice with real money and fix the problem will give you valuable experience. Last thing, keep calm never panic when your analyze go wrong and make loss. Do that until you find the best performance and has income from your trading. Good luck with you.

To me i think the most important is to remain as upto date. Studying the market on regular bases is too much important, you need to know about all the important activities that are going around you. You also need to get the expert opinion and their analysis, being expert in crypto currencies most of the time their prediction proved as correct, therefore you need to have good contact with them and also read news about cryto currencies.

[Paecga129]

You need knowledge of financial markets. How does stock market trading work?

If you are good at the stock market, crypto markets are basically the same only much more scammy so you should stay away from lesser-known coins/tokens and also more volatile so you can expect to gain/lose 5-10% on a daily basis.

[Nerman]

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...

The important thing for crypto trading is keep practice and emotion control. Practice make perfect, meaning for there you can get experience to help grow up skill and understanding about real market works. You can choose any strategy, but keep practice with real money and fix the problem will give you valuable experience. Last thing, keep calm never panic when your analyze go wrong and make loss. Do that until you find the best performance and has income from your trading. Good luck with you.

To me i think the most important is to remain as upto date.

Keeping up to date is always good but being control of your emotion is I think the most important thing. All those technical analysis and research will go away when fear sets in. Being unattached will make you logical that will result to more winning trades.

[wayaneka]

Firstly you have understand about technical analysis, this knowledge is important to read and to know the price in over sold area or in overbought area. And also understand about candlesick pattern, price pattern, some indikator and price action. This technical analysis important to understand when we do short term trading , and for longterm trading we should be analysis the market from its fundamental. Other  more important thing in trading is risk management and good psikilogis like always patient and do not greddy.

[buwaytress]

I feel knowledge is just one aspect, and that prepares you for the technical activities of trading. But it becomes less important as a first priority to many of us trade from our homes or don't actually sit in a trading job, where you:
1. trade within targets and instructions from a boss/employer
2. trade within limits also set by employer
3. require second, even third approvals before trades can be executed
4. trade with someone elses funds


That's a stark difference. When you trade on your own, you have no instructions, no limits, no requirement for a second approval, and the funds are yours. This all means that emotions and nerves play a huge, huge factor. I think for us, this is the thing we have to master more than anything else.

[bakkang]

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 when it comes in choosing coins it is good if you know the purpose of this coin and the potential of it to grow. In trading it is necessary that you have the strategy to be used in order to gain more profit. But most especially you must gain experiences because your experiences will be your steppingstone to become more effective in the field of trading.

[alani123]

Cryptocurrency trading is very much based on speculation. Perhaps more than anything else. Watching the market's sentiment can e done through communities and relevant blogs/announcements but this all moves very fast. In the end, it's all profiteering on the speculation.

[X7]

The reality is 0.1% of traders actually beat the market - imagine if you traded into altcoins when BTC was @ $1000 - that coin would have to increase by 900% just to match you holding BTC

Just buy and hold. thank me later

[zhekinsp]

The most important knowledge needed for crypto trading is analytical skills because you have to predict the prices of bitcoin or altcoin by doing deep analysis.And the decision making skill also needed at the hard times.
The best way to be an successful trader is by buy low and sell high it can be done by two ways you can buy bitcoin at when the pricr is low and sell it when the price is high.The next way is buy finding the coins on which country is available for cheaper and where it selling at higher prices.If yiu have friends from all over the world then you can try this method because in some countries bitcoins available cheaper than the market price due to more competition between traders.

[Pasnik]

The knowledge that important in crypto trading is the analyzation in every market you will enter in trading. This are very impprtant and ofcourse to control your emotion of never got panic. Because when you are in panic mode losing may encounter.

[meliodas]

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...

The only knowledge that is really important when it comes to trading is knowing when to buy and when to sell. A lot of people get confused by the idea of this. Also, it is wise to control one's emotion because of being too emotional when it comes to trading, that person ends up failing and not earning.

[crypto1nvest]

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 start to learn technical analysis, read some book like
Technical Analysis  Jack D. Schwager
Japanese Candlestick Charting Techniques’ by Steve Nison
then start practice on  https://www.tradingview.com.

Use twitter and this  http://coinmarketcal.com for searching news.

Don't be greedy and emotional while trading.
Practice as much as you can. Good luck.

[JohnBitCo]

if you do not have any trading experience at all, Maybe you can follow the trading signal from a trusted trader master, or follow a trusted group in social media,  trader is not an easy job, you have to learn a lot from experienced traders

No serious trader will ever bother to provide noobs advice aside from a few tips here and there, and that's if that person knows you. If you actively search for "experienced" traders, you mostly end up with idiots selling you guides/tutorials with information that can be found freely by using Google, and the worst of all is that it isn't of value to starters at all. If you can't figure out the basics yourself (without paying for free to find information), you'll never be able to come anywhere in this market, and that's a fact.

I followed several trading groups, I can learn a lot from there, Sometimes I also search for information via google, and that can add my insight, so I can know a little about how to read an indicator, Our task is to develop the knowledge we have learned.

Trading with crypto currency isn't easy especially if you're new in this field. Do you know most of people left there job just to work with bitcoin and trading, Not only knowledge but experience also required. I suggest you to first learn about that coin which you're going to buy. If you buy wrong coin you'll be in a big trouble. Try to understand the importance of coin marketcap and other factors which contribute the success of a coin.

[justdimin]

Where can I find these pump groups? Another newbie asks.

If you are looking for a pump group, then look no more cause you will not find any and if you do, be ready to lose all your assets.

Most of those pump groups were found on telegram back then and the followers of those calling the shots ended up realizing that these guys are only using them to make profit for themselves at the expense of gullible followers who ends up holding a bag of shit coin or even selling for losses. Learn yourself and make trading decisions on your own.

[Digital Mutant]

Where can I find these pump groups? Another newbie asks.

If you are looking for a pump group, then look no more cause you will not find any and if you do, be ready to lose all your assets.

Most of those pump groups were found on telegram back then and the followers of those calling the shots ended up realizing that these guys are only using them to make profit for themselves at the expense of gullible followers who ends up holding a bag of shit coin or even selling for losses. Learn yourself and make trading decisions on your own.

the main problem of new generations and of (humanity nowadays) is that we want all and we want it now...

to achieve results or benefits or everything else you have to:

1 study a lot
2 understand what you are studing
3 (if u understand) be able to apply what you have learned
4 start to to having results or fails
5 start again and study again
6 know more and more and start developing intuition for good deals(in life)

...and it is a never ending story (ask to veterans how many time they have failed and started again)

Study! Learn! Know every day more! Nothing is for free!

Cheers

[zakero]

From my experience I can tell you that you should always look for a coin which has a good enough volume that is being traded. Coins with a small volume does not potentially have that much of a buying and selling activities. Secondly, you should always look for a coin which has a good price variance. for example, price only fluctuates between 0.00028 and 0.00030. You wouldn't want to invest in that because that wont give you a good enough profit.

[ansh_848]

According to me we should need historic data about particular crypto whether it is BTC,  ETH or any other crypto,  trading is all about strategy, we can also study about crytpo to gain the knowledge and also search it on google to know what are the best method to do trading.

[Ausgewielt]

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 basic of trading, many important things like liquidity, sentiment, political and any other trading indicators. It is impossible to predict the price of cryptocurrency, the volatility is very extreeme. So you better don't take higher risk by wait to get higher profit.

[fasdorcas]

The knowledge of crypto coin market value is the most important thing that a trader must know before trading .
All other factors comes after this . If you invest in any alt coin without knowing its market value then there are more chances of getting loss then that of profit . There are thousands of altcoins in the market ,choosing the best ones is the foremost task for trading . Other than that I would say that bitcoin is most trustworthy coin as compared to others so you must start with bitcoin .                                                                                   

Everything you have said totally depends on the trader's experience, style of trading and their strategies which they cannot know without having a good knowledge on how to go about them.

Certainly, it is a simple process, but for a trader who is not ready to leave their funds in alts for so long, I have always believed that cutting losses at a certain percentage is just the best thing to always do and look for a better alternative to trade.

Yes I observed one thing the professionals in trading they will not choose a reputed coins to make a profit. They will target one shitcoin and make others invest in that coin and afterwards, suddenly they will sell and make a profit. That is why don't buy any shitcoins if the profit comes late also no problem buy only a reputed coins.

And what is the probability that others are going to invest in that shit coin. For those traders who use this technique, it is not possible to earn large amount of profit.

It is best to go for Bitcoin trading but if someone does not have a good experience, he can go for famous alternative coins like Ethereum Litecoin neo waves or Monero.  Those all can give good amount of profits and none of them is a shit coin.