Some steps to becoming a trader are:
- Understand the Candlestick and Movement Patterns
Understanding the candlestick and movement patterns is very important in trading, why? Because Candlestick can predict price movement of bitcoin in some candle forward. By understanding candlestick and movement pattern, then you can predict the trend that will happen.
- Conducting Technical and Fundamental Analysis
Before trading, you should learn to analyze the bitcoin price movement technically, by understanding the indicators and trading tools that match the characteristics of bitcoin movement in the market. You should also be able to analyze the news (fundamental analysis) of both global news and news events that appear at any given time and its nature can influence the movement of bitcoin price trends.
- Understanding the Characteristics of Bitcoin Movement
Bitcoin price movements in the market have certain characteristics that are influenced by several factors either fundamental or technical news, as well as certain other things that have their own uniqueness. The more often you trade the more you understand the character of bitcoin movement, to become a natural instinct of a pro trader.
- Creating a Trading Plan
Some time before trading, you must make a good trading plan. By organizing your work steps and strategic plan, you will be able to immediately take action or step if things happen outside the scenario you have created. Usefulness of this trading plan is that we always follow the rails we have made so as not to slip and fall into the brink of destruction.
For trading, if you dont have any prior knowledge about bitcoin, you might be seeing worst circumstances and you might fail in your goals. Why I am saying this because this platform is full with such stories where people didnt have any prior knowledge and for the sake of earning money, they just entered blindly. This is a badass game which doesnt look for in nonce.
It is very hard to say anything about the future of bitcoin because its price varies within seconds. Till now both the years were same for it but I think that 2018 was a bit better for bitcoin than 2017 because its price increased much in 2018 than in 2017 but still there is no such large difference between both the years. Moreover it depends upon the remaining six months of 2018 that either its price increases or not.