Which knowledge is important for crypto trading?

[DiabolicAnt]

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 can't say that there is a certain thing that will help you, a certain knowledge or skill; but for sure everything out here is about experience and luck.

[qwertyup23]

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 know at least the basic knowledge of trading. Preferably, one should have at least any background from an economics in order to understand the market better as compared to the ones who does not have. Though it is not required for one to have such background, it is preferred as it may result to better results and for risk avoidance. But the primary factor here to consider is the experience of the trader on his field since it hones their talent and skills through the years of working on the actual scenario.
I have some friends who do not have any background with a business/economics degree but they earn large amounts of cash and are also experts on their field.

[Alexddr]

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...

Crypto trading don't differ of simply trading. So there are such rules:
1. To make independent decisions;
2. Have a psychological resistant (always follow selected strategy)
3.To perfect own strategy - self-education and knowledges..
4. To identify the patterns between the economic and political spheres that have a direct impact on the investment market (fundamental analysis)
5.Tecnical analysis
6. Risk assessment

For beginners I reccomend to trade cryptocurrencies from Top 10. Do not mess  with little-known cryptocurrencies, if you havn't an insider information...

[Suslura]

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 can't say that there is a certain thing that will help you, a certain knowledge or skill; but for sure everything out here is about experience and luck.

It seems to me that in the first place you need to have knowledge that will help you handle the crypto currency. Know what it is and how to act in different situations. Then it will be easier for you to go to the stock exchange or invest.

[Lenzie]

I also a crypto trader and a starter myself. Still need to learn a lot about trading but I have laready learned a few while trading bitcoin. First of all, pick a currency to trade. A pair would be grade and you should focus on that, rather trade a lot and have a split attention with all your token.

Study japanese lantern, the graph prediction are really helpful most specially in a long term trading.
Follow all the news about bitcoin or the currency you are about to trade. The main factpr that influence that pumps and dumps of bitcoin is because of the negative and posotive news coming. Mostly these news are negative.

[NavI_027]

Just to give an addition, you should also develop your emotional aspects because that's important too. In trading, you should have the guts to risk your assets because if you are not brave enough then I'm sure you will not become fruitful since you are scared all the time.

I believe that it's useless even how knowledgeable you are if you don't have the guts to deal with the risky nature of trading.

[TravelMug]

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 basic knowledge you need in crypto is the technical and fundamental analysis. These two analyses are vital for your investment or trading success. Aside of knowledge there more important things you need to learn in cryptocurrency and that is the virtue of patience. Many people became millionaire because of this virtue.

I have to disagree with you, learning technical analysis? Are you serious? Take years to really perfect this craft dude. Don't go too technical, just a simply knowledge about reading the trend and graphs will be helpful at the beginning.

I guess the first time someone needs to understand or what is important is to see how the price moves and check your emotions out of the door. You need need to be emotional specially in trading because it will make a difference whether in making profits and specially cutting your losses.

[abayan]

Good question mate. I am sure that you are really imterested and serious in trading.
Well, as new in this, you dont take actions that are not well plan. Always analyze and try to foresee the possible consequences of your future actions.
Dont ever trade big number of coins immediately.
Be cautious always.

[xuuy7]

The technical strength of the team, the history of the members, and the idea of the project are all very important factors, but this requires you to make a thorough understanding of the cryptocurrency before you can judge. I suggest that you first learn some basic knowledge and you can buy some books.

[crypteris]

Basic knowledge is an important thing. So start with theory. Then you must choose a cryptocurrency platform. Pay attention to fees and terms of use before you start. You should also take into account that the exchange rate always changes, so you need to be sharp and confident at making decisions. Finally, don`t forget about risks related to trading.

[bogacola]

I think the crypto market is barely regulated, and can be easily manipulated.

[ducphucmmo]

It is crystal clear that you cannot perform great in trading until and unless you don’t have sound knowledge about the coins you want to trade with. Just reading whitepaper of the coin is not enough for knowing all about the project. We live in an age of modern science where impossible can be replaced by possible. So, there are thousand types of way to know about bitcoin

[alibaba93]

This is a bad way to start trading you should educate your self first before going to trading. You might see yourself losing a lot of money if you do not know waht you are doing. Trading seems simple but it is not a game you can end up broke by doing bad trades. The best knowledge for crypto trading is you must understand how you profit from trading results, how to buy coins when the price is rather cheap and sells when the price is high, nahh from the price difference you get a profit

[ervinmadureri]

It is crystal clear that you cannot perform great in trading until and unless you don’t have sound knowledge about the coins you want to trade with. Just reading whitepaper of the coin is not enough for knowing all about the project. We live in an age of modern science where impossible can be replaced by possible. So, there are thousand types of way to know about bitcoin

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. That is why don't buy any shitcoins if the profit comes late also no problem buy only a reputed coins

[Kawasakinamoto]

I think the most important think you need to learn in trading is controlling your emotions and know when to take profit or set a cutloss because you think that's just easy but if you are in that situation you can really feel the pressure of not mastering that things.

[thecoder2017]

Trading in crypto is a risk you must have enough knowledge you must study all the consequences and in trading all you have to.do i guess is to trade a little then.when you succeed in your first attempt and get accustomed with it then continue to trade to have a big profit.

[eaLiTy]

For beginners I reccomend to trade cryptocurrencies from Top 10. Do not mess  with little-known cryptocurrencies, if you havn't an insider information...

The points you have made is good ,you need to follow the market really well before investing and understand how things work, the main idea behind it is simple, but for beginners starting with top ten coins means those are high valuation coins that have broken the shell and had a rally, go for low valuation coin with for a small budget and have some experience dealing with it before investing heavily. Right now i would say that it is the best time to invest as the market is on a correction mode for some time.

[jambul_kribo]

For beginners I reccomend to trade cryptocurrencies from Top 10. Do not mess  with little-known cryptocurrencies, if you havn't an insider information...

The points you have made is good ,you need to follow the market really well before investing and understand how things work, the main idea behind it is simple, but for beginners starting with top ten coins means those are high valuation coins that have broken the shell and had a rally, go for low valuation coin with for a small budget and have some experience dealing with it before investing heavily. Right now i would say that it is the best time to invest as the market is on a correction mode for some time.

and right now if we buy bitcoin or altcoins it could give us profits.but some time for tokens/coins with low valuation give us big profits,much people just focus on top coins/tokens.meanwhile other could give them high return.

[GREATLOVE]

first buy a stash of bitcoin, and just hold it.

use a small amount to just do play-trades on different exchanges, to get to know the ways.

follow all the news about bitcoin

reddit/r/bitcoin
this forum here

read into the tech stuff a bit as far as you understand, look the technical advantages of alt-coins, the mining properties to get a glimpse of market swings.

like BCH is sometimes more profitable to mine than BTC.

learn to know when these times are, learn how the market reacts and then react according to that.

You're right mate. You don't need to put all your money in one coin if you know that there are some cpins that has potential then place you money part by part or divide your money. For you to profit atleast 3x to 5x.

[Mateo123]

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...

Inorder to become a successful in trading,you shouId educate your self first,be sure you are already knowledgeable enough especially in trading, trading is very risky part so no need to rush, it needs a lot of time to make decisions, you should know the techniques and strategies on how to trade.