How do I succeed as a trader in 2024

[justdimin]

Yes, we still have time to plan our strategies but I don't think halving or the years where halving don't place will have major impact in the trading strategy because a trader will be doing his job everyday unlike investors who tend to find the sweet spot when the market is down and going to pump up to invest. I think it's time we backtest the data with multiple technical indicators and shortlist few or have a combination of most accurate indicators to use it in 2024.

I would feel like that is actually a good thing, it allows you to invest long term and it makes you earn a good amount of money if you know what you are doing. Trading is good too and I am not saying do not trade, but it is clear that you are going to end up with a good profit when you are investing long term.

This is only true for people who do not like to trade of course, people like me, we do not like to trade a lot and that means we are going to end up with a good profit one way or another if we hold long term, depends on if we can hold of course, some people fail to hold as well. I believe that there are traders who make more money than long term holders as well, buy low and sell high and keep doing that, but they are not that common.

[KingsDen]

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

• You need to first consider if you can actually trade because trading is really not for everyone.
• Are you willing to accept losses as well as wins
• Are you willing to control your emotions
• Do you know anything about financial management and sticking to your budget?
• How about you consider short or long-term investment
• But, if you have so decided that you will trade this year, ensure you learn how to trade very well before you start
• You might be having some profits this year because of the bull run. Don't get carried away, the best time to learn trading is during the bear market

[Jegileman]

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

Jumping into trading to make a lot of money this 2024 is not advisable for you to do if you haven’t been learning about trading for a very long time. Trading is not something you can just wake up and decide to do without having enough knowledge about it before. We are already in 2024 but I think it will take you at least a year to be a professional in trading with consistent practice, that is not something you can do now since you’re looking to start trading in 2024 to make a lot of profit. This 2024, just invest in good projects that has good potential of making it in the bull run and stack up a lot of BTC for backup.

[lixer]

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

Always go through the process, and remember that there is no shortcut here.
Being a trader is not that easy but it can be rewarding, so start learning about the indicators and create a perfect combination where you can be more profitable. TA and FA works, make sure you know how to do this properly and stop panicking every time you see Fud or a hype, always focus on your strategy.

As they say, trust the process. So yeah. Even though it's right, I still think there is a shortcut. What about those copy trade features? The signal group? Hiring a mentor, etc... But if we always want the easy road, expect that there are also dangers about it. In terms of trading, we can follow the wrong people and lose. That is only one example, but there is more than it. While going in a hard way is hard but it is rewarding as you say, once we overcome it. Indicators are part of trading but it wasn't the basic AFAIK.

We better start at the beginning if are sticking with the principles that we talked about earlier. TA and FA works, if we are good at them and then if we are lucky because price can still be unpredictable. Lastly, Once we are organized, and knowledgeable, we will never panic.

[Twentyonepaylots]

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

Jumping into trading to make a lot of money this 2024 is not advisable for you to do if you haven’t been learning about trading for a very long time.

Well this year it could be. Halving will take place in what? less than 3 months? it is a historic culture that all people in crypto are anticipating although we can't guarantee the pump that day, I'm more than confident that it will. Seeing the price of bitcoin at the moment at $47K makes me think that it is the beginning, we saw a dump yesterday and today it ate the red candle. Excited to see where is this gonna end.

Trading is not something you can just wake up and decide to do without having enough knowledge about it before. We are already in 2024 but I think it will take you at least a year to be a professional in trading with consistent practice, that is not something you can do now since you’re looking to start trading in 2024 to make a lot of profit.

As simple as being a human, you need some lesson to learn and school to teach you same with mistakes and the platform you are currently in.

This 2024, just invest in good projects that has good potential of making it in the bull run and stack up a lot of BTC for backup.

I'd say if OP want to make huge profit, stack altcoins, chances of bitcoin doubling up is foreseeable, but altcoins can make it greater.

[milewilda]

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

Always go through the process, and remember that there is no shortcut here.
Being a trader is not that easy but it can be rewarding, so start learning about the indicators and create a perfect combination where you can be more profitable. TA and FA works, make sure you know how to do this properly and stop panicking every time you see Fud or a hype, always focus on your strategy.

As they say, trust the process. So yeah. Even though it's right, I still think there is a shortcut. What about those copy trade features? The signal group? Hiring a mentor, etc... But if we always want the easy road, expect that there are also dangers about it. In terms of trading, we can follow the wrong people and lose. That is only one example, but there is more than it. While going in a hard way is hard but it is rewarding as you say, once we overcome it. Indicators are part of trading but it wasn't the basic AFAIK.

We better start at the beginning if are sticking with the principles that we talked about earlier. TA and FA works, if we are good at them and then if we are lucky because price can still be unpredictable. Lastly, Once we are organized, and knowledgeable, we will never panic.

Shortcut? Literally yes, but you wont really be able to make yourself do able to learn on what things should be learn because you wont really be able to develop your skills when you do make those copy-trades or would really be just simply waiting for someones signals before you would really be making out such action. Just as said that you should trust the process and everything could be learnt if you do it on your own in manual maethod.
There's no other way that you could really make yourself that do able to be enhanced in speaking about trading skills but rather with those personal approach on which this is something
that it is recommended if you are really that serious on learning up such skills but if not then go into that shortcut that you so called.

[TimeTeller]

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

Jumping into trading to make a lot of money this 2024 is not advisable for you to do if you haven’t been learning about trading for a very long time. Trading is not something you can just wake up and decide to do without having enough knowledge about it before. We are already in 2024 but I think it will take you at least a year to be a professional in trading with consistent practice, that is not something you can do now since you’re looking to start trading in 2024 to make a lot of profit. This 2024, just invest in good projects that has good potential of making it in the bull run and stack up a lot of BTC for backup.

That you have a valid point, it is not a day or two just to learn the ins and outs of trading.
But sometimes it would take months to years to have good understanding on this market.
Many newcomers still have the notion that they can earn huge profits if they jump on they hype.
However, they will learn their lessons quick once they taste their first loss in trading.

[kawetsriyanto]

That you have a valid point, it is not a day or two just to learn the ins and outs of trading.
But sometimes it would take months to years to have good understanding on this market.
Many newcomers still have the notion that they can earn huge profits if they jump on they hype.
However, they will learn their lessons quick once they taste their first loss in trading.

Of course, there is an instant way to learn trading and crypto market. It requires a lot of time, it can be for some weeks or even months. If newbies/beginners expect to have good knowledge and experience in a short time, it is something impossible. The newcomers who expect to get profits instantly by following the hype, probably will end up with losses. How they know to trade properly if they have lack of knowledge and experience? I am also doubtful about their mentality, I bet they may feel panic when they see the hype suddenly over. They think the hype will last a long time, but we know that most the hype only last for a short time.

[Finestream]

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

Trading is not an easy job that you will only say you want to be a trader and then boom, you instantly become one. It could be helpful if you do investing first and once you succeed, you can level up as a trader. That way, you are already exposed to a lesser risk before you proceed to take bigger risk.

However, I would say that if you both experienced doing both, trading is more profitable than investing alone but we should also be aware that it takes long preparation before you can be a good trader, and most likely you will experience losing at first before you can finally profit as a trader.

[arwin100]

That you have a valid point, it is not a day or two just to learn the ins and outs of trading.
But sometimes it would take months to years to have good understanding on this market.
Many newcomers still have the notion that they can earn huge profits if they jump on they hype.
However, they will learn their lessons quick once they taste their first loss in trading.

Of course, there is an instant way to learn trading and crypto market. It requires a lot of time, it can be for some weeks or even months. If newbies/beginners expect to have good knowledge and experience in a short time, it is something impossible. The newcomers who expect to get profits instantly by following the hype, probably will end up with losses. How they know to trade properly if they have lack of knowledge and experience? I am also doubtful about their mentality, I bet they may feel panic when they see the hype suddenly over. They think the hype will last a long time, but we know that most the hype only last for a short time.

Those seeking for instant way will usually can encounter a heavy loss since they might not think the risk of what they are trying to do but instead they will just grab those coin what they think can give them a better profit since this is what people told him to do.

But if he could just follow his own strategy and do more research regarding on what he read also the technicalities of the market for sure he can be more better than any people out there.
Also he just need to became more consistent since this is what actually important if we want to succeed as a trader. It take a lot of time and effort before reaching that and we must open to learn new things everyday so that we can do good decisions on our trades.

[bitgolden]

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

The best thing to do as a trader, in 2024 or in any other year, would be reading up on the new trends. I know that people think that they could just end up studying once, be a great trader, and just stay a great trader forever. However, the reality is that you are going to end up with a lot of trouble one way or another if you stop studying. So, learn what the new trends in trading for this year is and you could get a lot better by learning those tricks as well.

I believe that we are going to have some trouble at the early months trying to adjust to them, but we are going to get a lot better with time eventually. This means that we need to end up with some better approach one way or another, and that will surely make it better. This can be done by just giving it some time, keep doing what you normally do, study the new trends first for a few months, then do them small by small after a while, and eventually just do them more and more if you are doing great with them.

[EarnOnVictor]

That you have a valid point, it is not a day or two just to learn the ins and outs of trading.
But sometimes it would take months to years to have good understanding on this market.
Many newcomers still have the notion that they can earn huge profits if they jump on they hype.
However, they will learn their lessons quick once they taste their first loss in trading.

Of course, there is an instant way to learn trading and crypto market. It requires a lot of time, it can be for some weeks or even months. If newbies/beginners expect to have good knowledge and experience in a short time, it is something impossible. The newcomers who expect to get profits instantly by following the hype, probably will end up with losses. How they know to trade properly if they have lack of knowledge and experience? I am also doubtful about their mentality, I bet they may feel panic when they see the hype suddenly over. They think the hype will last a long time, but we know that most the hype only last for a short time.

I suppose you wanted to say there is "no instant way" to learn this in the first line. Trading can't be easy, it is also very risky, and even if you know how to trade, practicality is another issue which needs sensitivity, smartness and wisdom before one can rightly decipher the market movements and suggest the best money and risk management to their trading. This goes a long way with learning as the traders that do not learn well can never get to make the best out of the market. Even if you learned so well, the training of what you learn matters most as that is what inculcates experience in traders. The learning is very easy as most are theoretical, that goes to the initial practising of what you learn, but with time, you get to discover more as you train. Also as a human being, you can form a good trading system when the experience is so much by then.

This is why experience is so crucial to the success of any trader and we should shun any way that proves otherwise or makes us think that trading is easy. There are truly hypes all over the place but in reality when the trader has started trading, such will know that it is not true, so we should be wise about this.

[Questat]

Work on your plan that is what I can say OP.
This 2024 is a good entry for trading but never expect success if you fail to follow what is in your plan. Mistakes and losses are always part of the journey but if this will affect your mentality and change your mindset, that would be the reason for your failure.
 - yes, focus is necessary but one must need more knowledge in order to become successful. Nothing is impossible especially if strongly believe in ourselves and the capabilities we have. Success couldn't achieve quickly which is why we must learn how to be patient.

[Antonil]

The year 2024 is going to be a special year for Bitcoin holders. Because we all know that Bitcoin halving happens every 4 years. Nothing to tell apart, Bitcoin halving means a bull run and a bull run means the price of Bitcoin has risen to an all-time high.
Every coin holder waits for this day.

However, as you wish to trade, you should always remember that by trading correctly you will earn this year, just as if you make a mistake, you may have to pay back all your previous earnings.

So, I think if you are an experienced trader then congratulations. 2024 is waiting for you.

[Mehmet69]

Trading field is not a small subject which can be learned in 1-2 weeks. But if you are really interested then time will not be a big issue for you.

Trading stood with profit and loss as before. It is the same today and it will continue to take such profits and losses in the future. For this I think you need to focus on learning original trading without targeting any year like 2024, 2025, 2026. Which will make you successful one day or the other.

[LarsLind]

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

I used to trade actively. Both market swings and with my own bots written in .py.

It's a really tough game, but you can certainly make money if you have adequate know-how. The market is almost saturated at this point and I'd say the only remaining opportunities, at least for arbitrage, is to find more esoteric markets, denominated in foreign currencies. This involves a triangular trade, in which crypto is exchanged between foreign currencies, and will require hooking it up to a currency converter with low latency. Adding to this, there might also be opportunities in those places where market makers get paid. That is: You'll receive commission for offering liquidity. With the right setup, you can definitely exploit the arbitrage here.

This doesn't qualify as trading per se, but it's the one area I found some success. It used to be that you could hook up to Twitter's deck and trade contracts depending on recent news. It'd take the market 2-3 minutes to react, but that time is now limited to seconds. I suspect it's been automated as well, with triggers for certain phrases.

Best of luck, brother.

[South Park]

The best thing to do as a trader, in 2024 or in any other year, would be reading up on the new trends. I know that people think that they could just end up studying once, be a great trader, and just stay a great trader forever. However, the reality is that you are going to end up with a lot of trouble one way or another if you stop studying. So, learn what the new trends in trading for this year is and you could get a lot better by learning those tricks as well.

This is true, people often expect that once they study any subject that they will not need to learn about it ever again and this is wrong, this is like a doctor expecting to not have to learn anything new about medicine and are puzzled their knowledge is now obsolete after a decade of not touching a medicine book, trading is the same, the markets are always changing and evolving, and what worked on the past will not necessarily work on the future, so even those that reached a skill level high enough to make profits, may not be able to do it in the future if they do not keep working on their skills.

[GeorgeJohn]

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

Trading is not the beat option and it can only be the best option when you learn and comprehend the systematic of trading and how to overcome the barriers of trading, because you might have the mindset that trading will make you to acquire everything you need this year and you get disappointed because you have not understand the rudiments or rules and regulations of trading before you venture into it, I will advice you to have another means of success especially venturing into investment of cryptocurrencies for future purposes

[usekevin]

This is true, people often expect that once they study any subject that they will not need to learn about it ever again and this is wrong, this is like a doctor expecting to not have to learn anything new about medicine and are puzzled their knowledge is now obsolete after a decade of not touching a amedicine book, trading is the same, the markets are always changing and evolving, and what worked on the past will not necessarily work on the future, so even those that reached a skill level high enough to make profits, may not be able to do it in the future if they do not keep working on their skills.

The market will change based on the demand and the social factors,if any country approves the cryptocurrency.The demand for the cryptocurrency will increase through out the world,So the price of the coin will increase with no doubt.The trader should increase their skills in the trading,So he can easy earn during the bull run in the market.

The price is just an number,analysis of the market was essential one.The price of the bitcoin demand the market movement and the replica of the bitcoin price to the other coin at that particular time.

[Maslate]

As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.

Well, if you are a skilled trader and a long term investor as well, then I don’t see any reason that you will not succeed on your finances. But if you are just starting to learn the process in trading, focus more on how you can maximize establishing your knowledge and skills, and when you think you’re capable and sufficient enough, creating a good income will easily follow.

Financial success is actually possible if you are trading in profits consistently, but we all know that trading is also susceptible to losses so trading alone may not guarantee financial success and stability. But if you are trading and at the same time investing in diversified assets, you will eventually gain financial success in the end.