Master the Art of Crypto Trading with These 5 Simple Tips

[Kelvinid]

 - Have a reason and main goal. Reaching the finish line is not impossible.
These are probably the reasons why most traders fail --doubtful, lack of self-confidence, and knowledge.

That is why we have to ask ourselves what we want to achieve. Because our actions will also lie on what we want to reach. Now, if we don't have a clear target or goal, we certainly go in the wrong direction and fail.

However, it was not just knowing the simple tips but also, it is how we work on our goal. Many are aiming to become successful in trading but guess what, they are impatient and lazy to learn new things.

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[john1010]

Get a buddy system. Another trader who knows your trades. If ever you like doing something risky? Like moving stop loss or going 100x leverage? Make sure you confirm with buddy. It's not his money, so he has no greed. He will stop you 9 out of 10 times from doing dumb things.

A buddy system is when you have another person who helps you with your crypto trading. They can give you advice, stop you from making bad decisions, and support you when you are stressed. A buddy system can make you a better and happier trader. 😊

[john1010]

Unless you are a professional and know why you want to trade, most likely, no matter how profitable your trading is, your investment in Bitcoin will continue to decrease. It is true that some currencies, especially bump/dump coins, achieve good profits in the short term, but their value soon decreases against USD, so trading is not a way to make a quick profit or for those who don't know what they're doing.

I respect your opinion, but I disagree with some of your points. Trading crypto can be profitable and rewarding for anyone who is willing to learn and improve their skills. Bitcoin is not the only option for trading, and there are many other coins that have a strong potential and value. Trading is not a gamble, but a strategic and analytical activity that requires discipline and patience. I believe that anyone can become a successful trader with the right mindset and tools.

[tjtonmoy]

I am surprised that whenever I see posts like this, sharing tips on trading, they never mention the necessity of emotion control. Despite having the best strategy, if you fail to control your own emotions, that strategy will not work out in the end. Your strategy tells you that this price will go up and suddenly it goes down. You get panicked and make a decision based on emotion and close the trade in fear or panic. But after some time, the price moves the way it was predicted according to the strategy. This is how dangerous it is to fall victim to emotion.
This is also the reason why you need to have control over your emotion and a strong mindset to follow the rules till the end.

[so98nn]

I am more or less interested in making “own” choices while trading. What I mean is, all these tips are fine on paper and when you read you get motivated but when we actually trading we are stuck with reality. Its not easy to manage a trade that is off boundary. A stop loss can end your trading position and save further losses but it doesnt guarantee a perfect trade with profits. For example, instead of shorting a position one could apply their own logics and try to regain the positions, make more profits. Maybe turn an impossible position into perfect save. This can only come by when we are highly alert, studious and updated with the asset that is being traded. I am sure these tips will guide new comers. But always remember after a specific period and multiple trading assets things can get ugly and trader needs alert mind and logics to drive a trade.

[Johnyz]

Tips are everywhere and hoping that every inspiring traders will see this through and adopt what can work for them.
Trading is not easy, it take time and sacrifices for you to have a good strategy and having these kind of tips can be a big help especially if you are still on a period of learning and testing. You might feel sad about your losses at first but if you continue to learn more and be consistent, good profit will follows. Be a responsible trader too, it will be more worth it in the long run.

[john1010]

These things are fundamentals that every trader needs to know, but once you get to trading, say after a year you'll realize that you only need a few guides in trading. Personally I set this rules for me to follow every time I trade or planning to trade.

I have this 3 things on my note

1. Decide
2. Plan
3. Execute

Then I breakdown these things, make a broad illustration on how to get things done.

1. Decide - My first step is to decide. I'll check the market in general. If I'm skeptical, I won't touch the market ground. Know the trade strategy, Short or Long term.
2. Plan - Again, if I got skeptic after deciding and don't know how to plan the trade I want to make, I won't touch it. So planning is a bit long process for me, do a lot of reading and analysis and write  stuff on my note coz I got a short term memory so I have to lol. I'll start writing things out including the key words for my self.
3. Execute - Some people may think that this is a quick process, just execute the plan, hell nah. The execution involves yourself, where the discipline and your character is vital.

As for your trading tips, I think they are very helpful and concise. You have outlined the three main steps of trading: decide, plan, and execute. These steps are essential for any trader to follow, as they help you to be clear, consistent, and disciplined in your trading. I especially like how you break down each step and explain what you do and why. You also show that you are aware of the psychological aspects of trading, such as being skeptical, writing things down, and having discipline and character. I appreciate your honesty and humility in sharing your tips.