Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Trading Discussion
Re: how to become a TRADER
by
supercanada1
on 21/06/2018, 21:45:17 UTC
Quote from: tbterryboy on June 21, 2018, 10:58:21 AM
Quote from: robotrobert on June 18, 2018, 08:01:48 AM
Quote from: gamalzour on June 13, 2018, 07:25:24 AM
Quote from: MaidaKalani on June 10, 2018, 09:37:30 PM
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 don’t 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 didn’t have any prior knowledge and for the sake of earning money, they just entered blindly. This is a badass game which doesn’t look for in nonce.
Regular observation of the market and collect as much information about trading as you can and if possible spend some time with a trading expert. By this way you can become a good trader. It is not too difficult that many people think about, just need more time to analyze the market every moment. You can earn lot of money from crypto trading when you become skilled trader.
It is not so easy to become a trader because we know that trading is a wide field and for a successful trading we need to learn the basics first and then to proceed for the source you desires for. We know further that the market of Bitcoin is unstable and changes with the passage of time so you need to be careful and active. For a successful trading life you need to learn first.
There is nothing easy in this world. Even if you start selling fruit on some cart, it could be tiresome enough and hard to do that. Because you might not have any proper skill and knowledge about that domain. So same in trading, no one could be efficient enough to make best results if he doesn’t have basic knowledge about what you are going to do in future.