How to be a successful trader?

[Fuso.hp]

For some time now I have been making a plan that I will trade on the crypto platform . But I am not able to trade because I don't have enough knowledge about trading. I have no idea how much money is needed to trade or what coins I can currently profit from trading.

But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

[Mpamaegbu]

Your major problem isn't the capital. In fact, if anything, that shouldn't even come as a concern to you at this moment. The first thing you need (and it should run into months) is to acquire the basic skills for trading. You can start with learning about Price Action, candle patterns and Money Management. Babypips is a great site that teaches such stuff. It was a major part of my learning curve.

[348Judah]

For some time now I have been making a plan that I will trade on the crypto platform . But I am not able to trade because I don't have enough knowledge about trading. I have no idea how much money is needed to trade or what coins I can currently profit from trading.

But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

I will also support your decision on the latter part of your second paragraph which takks about the idea of starting with bitcoin first, this will reduce the level of risk exposure you might go into since you're not used to cryptocurrencies in general and being a beginner, it's more safe and recommendable for a start, learn the trading strategies and choose the most desiring one you could easily blend with, start mall as you wished and gradually grow it up, but most importantly, don't choose altcoins for a start being a beginner, you can learn more about bitcoin on the bitcoin discussion board, and also learn about trading from the trading discussion board as well, be active and learn.

[Fuso.hp]

For some time now I have been making a plan that I will trade on the crypto platform . But I am not able to trade because I don't have enough knowledge about trading. I have no idea how much money is needed to trade or what coins I can currently profit from trading.

But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

I will also support your decision on the latter part of your second paragraph which takks about the idea of starting with bitcoin first, this will reduce the level of risk exposure you might go into since you're not used to cryptocurrencies in general and being a beginner, it's more safe and recommendable for a start, learn the trading strategies and choose the most desiring one you could easily blend with, start mall as you wished and gradually grow it up, but most importantly, don't choose altcoins for a start being a beginner, you can learn more about bitcoin on the bitcoin discussion board, and also learn about trading from the trading discussion board as well, be active and learn.

I am trying to learn something new every moment. But in some places I have some difficulty in understanding, hope I will understand those things with time. I chose Bitcoin to learn as well as have some practical application. Hopefully besides learning, trading in Bitcoin will give me some insight into trading that will help me become a full-fledged trader later on. Hope you all help me move forward.

[Upgrade00]

I am trying to learn something new every moment. But in some places I have some difficulty in understanding, hope I will understand those things with time.

If some of the basic lessons are proving difficult, you should put off investing actual money unin you have gotten a hang of it. This doesn't mean you must learn everything before starting off as even the most experienced traders still learn regularly, but you should have a grip of the fundamentals.

Also, trading is not for everyone. There are many skills that one can learn and if you do not really have the interest in something but only want to do it cause you heard it's profitable, chances are you would not be successful at it.

[Rikafip]

But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

Hah, there is not a crypto enthusiast who didn't think the same as you (me included). While it may seem easy at first its actually quite hard to be in profit in the long run and only those with years of dedication manage to be among those few.

I have no idea how much money is needed to trade or what coins I can currently profit from trading.

About the money, its simple: as much as you can afford to lose. Regarding what coins to trade, there is no guide about that as situation on the market changes constantly and you will have to figure out these things about yourself.

To sum it up, be ready to lose quite a lot of money and invest a lot of time into education. Unless you are willing to do that, you won't be among those few % that are actually successful at trading.

[tvplus006]

For some time now I have been making a plan that I will trade on the crypto platform . But I am not able to trade because I don't have enough knowledge about trading. ..

It's great that you realize that for successful trading it is necessary to have the appropriate knowledge. But in addition to knowledge, you will need experience that cannot be obtained in a few days. The easiest way to gain knowledge would be paid training, but as a rule it requires material expenses, which beginners usually do not have. So the only way to gain knowledge will be self-learning the basics of trading, using a forum and free training videos on YouTube.

[hatshepsut93]

You can't become a succesful trader because there is no statistically proven method of trading that gives an edge over other methods. The most successful traders are the insiders and manipulators, but if you're not a manipulator with connections, you can't become one of them.

The idea that trading is some sort of art that can be mastered to generate constant profit is just a lie that exchanges have invented to lure more customers, because they profit from trading fees and are interested in more market activity.

[KiaKia]

Trading is not for newbies, you will lose all your money fast and those dreams of yours will turn to dust right in front of you, stay away from trading, I am damn serious, focus on learning how to trade and depending on how smart your brain is, you might get used to it fast, when you are finally ready you should start using a trial account, very good for learners.

[pixie85]

But I am not able to trade because I don't have enough knowledge about trading.

Then learn from books, read what people on trading platforms like tradingview have to say, see if they're good with their predictions and try to copy their ideas.

I have no idea how much money is needed to trade or what coins I can currently profit from trading.

There's no minimum or maximum. Just note that you will maybe earn 5% on a trade so if you start with $100 that's going to be $5.


There's a number of gambling methods. Some people play with leverage but I recommend you don't go over x3 as this is the fastest way to lose it all.
Remember that the market is heavily manipulated and you will probably lose more money nhan you'd gain by holding your coins.

[Stepstowealth]

But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

There is the chance of you profiting and also the chance of you loosing, and guess what? they are both likely to happen. As you expect to gain, expect to loose money too. If you have a small amount of money to start trading with, I think it is even better to start something else or just buy bitcoins to keep instead of wanting to trade when you do not have enough money to bear the risk. Trading is not the only way to make profit from cryptocurrency.

[Cryptomultiplier]

For some time now I have been making a plan that I will trade on the crypto platform . But I am not able to trade because I don't have enough knowledge about trading. I have no idea how much money is needed to trade or what coins I can currently profit from trading.

But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

Even a baby has to learn to crawl before standing and walking and running. The process of learning is not one that can be avoided, because without the knowledge of how to acquire the coins, the amount that would be sufficient, what exchange to use and other necessary setup that would be needed to be successful at trading, to be a successful trader would just be merely a dream.  That is one reason for this forum. You learn here and have access to ask questions and get real life answers from experienced persons.

[Ndabagi01]

For some time now I have been making a plan that I will trade on the crypto platform . But I am not able to trade because I don't have enough knowledge about trading. I have no idea how much money is needed to trade or what coins I can currently profit from trading.

There is no minimum or maximum amount you can put into trading; just make sure you put money into trading that you won't need right now to avoid exiting the market when you're already profiting from it, as in the case of emergency funds. Learning is the most important thing you need before you begin trading, so learn how to trade first before you begin investing in order to get a good guide in the market.

But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

Bitcoin is the best currency for a beginner to trade because it allows for risk management and, to some extent, loss minimization. Bitcoin is the only coin on which you can rely and profit in the long run if you invest for a long period of time.

[drwhobox]

Op you want to make profit from trading bitcoin as a beginner and want to invest more later, but this is not how things work in trading. It is not easy to make profit from day trading. The proven way of making money from bitcoin is by holding it for long term.
First focus on learning, then make a plan and take your next step according to your plan.

[decodx]

Hope you all help me move forward.

I was in the same boat not too long ago. I too had aspirations to trade on a crypto platform but felt overwhelmed with the lack of knowledge about it. It can be intimidating. But don't let that discourage you, there's so much information and resources out there that can help you learn and get started. Just take your time and do your research before you jump into anything and you'll be well on your way. Just remember that when it comes to trading and investing in the crypto space, there's no such thing as a get rich quick scheme. It takes time, patience and discipline.

[SOKO-DEKE]

For some time now I have been making a plan that I will trade on the crypto platform . But I am not able to trade because I don't have enough knowledge about trading. I have no idea how much money is needed to trade or what coins I can currently profit from trading.
But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

Due to what you said  that you don't have enough knowledge about trading, that should be a major issue because you can't be a great trader without having the necessary skills, I will advice you to learn as much as you can about trading before you dive in. capital shouldn't be a concern because beginners are always advised to start with little amounts of money so they may learn from their mistakes before beginning to trade with larger sums.

Trading Bitcoin is a fantastic option because it doesn't lose value as quickly as other coins do over the course of a few hours.

[UchihaSarada]

For some time now I have been making a plan that I will trade on the crypto platform .

One of biggest mistakes people commonly make is think that they can get rich quickly and easily by trading. They heard, read, watched somewhere about rich stories and think that those stories are real and rosy so that they want to make their debuts like that.

Trading is risky and not easily so most of newbies will lose money, not get rich with trading.

But I am not able to trade because I don't have enough knowledge about trading. I have no idea how much money is needed to trade or what coins I can currently profit from trading.

How long have you ever participated in cryptocurrency market?

If your time here is not too long, a few years, you should not think of trading.

Your way is to start with investment in Bitcoin. Spend a few years to see your portfolio growth with Bitcoin and experience how bull and bear market comes and completes then how news, fuds impact this market.

If you have profit from investment in Bitcoin, a few years later, you can use small part of it for trading. Don't use all fund for trading because even you have a few years in this market and succeed with investment, you are still vulnerable to lose by trading.

[Patrol69]

You present two things here one is that you don't have enough knowledge about trading but you are interested in trading and another thing is that you want to start trading with Bitcoin for the first time. 
First discussing about your lack of understanding about trading:
First of all you don't know much about trading but you are interested in trading so I suggest you first get good understanding about trading. Different Candles Understand the current market conditions first and when you get enough knowledge about trading you can start trading with a small amount of money. 
Starting your trading with Bitcoin:
I think you have made a very good decision Bitcoin is always better than other coins especially for trading. So if you start trading with Bitcoin hopefully you will earn some profit and there will be less risk.

[GigaBit]

For some time now I have been making a plan that I will trade on the crypto platform . But I am not able to trade because I don't have enough knowledge about trading. I have no idea how much money is needed to trade or what coins I can currently profit from trading.

But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

A trader should learn some basic things at the beginning of trading. Which will increase his trading skills. A new trader needs to know which coins are good and which will be bullish in the future and which coins will never come back. Trader needs to possess a lot of knowledge which is not possible to acquire in a short period of time. A trader get advantage of trading Bitcoin. In this platform there is no chance of loss if someone hold it for a long time. Moreover, it is the best investment in crypto currency sphere.

Various topics are discussed in www.babypips.com a users can learn and trade the financial markets safely and responsibly through this site. It is possible to achieve better efficiency by applying these rules and regulations and different types of trading knowledge with few days.

[yudi09]

For some time now I have been making a plan that I will trade on the crypto platform . But I am not able to trade because I don't have enough knowledge about trading. I have no idea how much money is needed to trade or what coins I can currently profit from trading.

But I feel like if I trade bitcoins I might be able to make a profit. First I am going to start this business with a small amount of money. If I can make a profit by trading then I will trade with more money later.

The basics to learn are about the coins you will choose to trade. Learning the extent of a coin's potential will be very useful because it can keep us away from scam coins.
Money comes second in trading activities because without knowing the basics of trading then the money will not give us the desired goal.

The choice of Bitcoin for you to trade is right even though the amount of money you have is limited.
Learn first the difference between other coins and Bitcoin because if we say Bitcoin is the king of coins and the best investment choice, you might not believe it. Learn the history of Bitcoin's journey with other coins.

We are sure you will not be disappointed choosing Bitcoin.