WHAT DOES A TRADER NEED?

[Karmakid]

Broad topic
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!

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.

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.

[yulionoo]

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

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.

[DimitrisLodirogas]

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

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 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.

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.

[Aying]

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

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.

[drachman]

Trading tools and assets to trade  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.

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.

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).

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.

[Paulinerims]

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

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.

[GreatArkansas]

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.

[Edraket31]

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

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.

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.

[DevilSlayer]

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

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.

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.

[Kambal2000]

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.

[Triffin]

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

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.

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.

[CarnagexD]

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

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.

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.

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.  

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.

[gazellespender20]

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: . 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,

If you investigate and evaluate the project correctly you can make a profit from any good coin. But definetely prefer to stick with proven ones. My top alts NEO, XRP, XLM, NWC...

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

[drlukacs]

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

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.

[DimitrisLodirogas]

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

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!

[Karmakid]

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

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.

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.

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.

[huige007]

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

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.

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.

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.

[TrevorS]

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

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.

[ice098]

Broad topic
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!

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.

[DimitrisLodirogas]

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

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.

Thank you for advice, appreciate it!