Quote from: ScamViruS on January 13, 2024, 09:05:22 PM

Quote from: shisotsu on January 09, 2024, 08:14:29 PM

I'm a newbie in trading. I read books by John Schwager, Alexander Elder, John Bollinger about technical analysis and psychology in trading and I began to doubt that all this was suitable for the modern cryptocurrency market. How is crypto trading similar to stock and Forex trading? What are its similarities and differences?
I would like to thank everyone in advance for their replies, I appreciate it! Wink

Because the crypto market is volatile, sometimes things don't go as expected, but Bitcoin traders who have done long-term market analysis understand the reality of this book. I know a trader who trades Bitcoin and his analysis seems successful to me, because he was able to correctly identify the last two bottoms as well. But he was a forex trader before he got into bitcoin trading, he is getting great results by using his forex market experience in the crypto market.

A trader has to do a lot of hard work to be successful, there are no short cuts and those who find short cuts get out of the market quickly. If you can do good technical analysis of the market then you will get good results in any market. So, to be a good trader, you need to acquire enough knowledge about the technical, fundamental and psychological conditions of the market, so that you can stay in the market for a long time.

Expect the unexpected and this is something that you should really be that get wary of because if you are really that hoping that much or really have that kind of optimistic towards the market
then you could really be able to make yourself that able to experience on whats the real deal that wwe could really have into this market. Stocks or Forex? These has been those traditional markets
on where people do really make those involvement before crypto market did exist on which it would really be just that so normal that people would be skeptical on trying out crypto space.
Cant really be denied that when it comes to risks then crypto is much more higher due to movement but same goes into making money then this is something more better.

Thing here is that you do really know on how to make yourself that able to survive the harshness of this market so that you could really be able to make
yourself that be wary and be able to act accordingly.