Quote from: davis196 on August 19, 2016, 12:29:07 PM

Quote from: razor5cl on July 21, 2016, 05:17:04 PM

I'm new to the idea of bitcoin trading in general, and I was wondering how people actually get into it? It sounds like a lot of people have some sort of background in economics or finance, or work in trading in their day jobs and use btc trading as a sideline, are there a lot of people like this? Do people learn by losing money and then figuring out where they went wrong and correcting it?

I'm interested to hear people's stories.

99% of the time success is just build from trial and error.

People who don`t give up succeed sooner or later.

This applies to bitcoin trading as well.

It's more than trial-and-error. People who trade that way will lose over and over. You need to develop a robust, back-tested strategy and have a proper risk management (risk vs. reward) plan for your trades. You need to be employing a profitable system from the get-go -- so the first question is: Do you have an edge? If you do, you may lose in the short term, but you should be profitable long term. Being a successful trader is all about employing that strategy over and over -- and having the discipline not to stray from it. It's easy to "tilt" and start trading based on emotions, rather than your profitable system. That will blow up your account.