Becoming a profitable cryptocurrency trader demands a blend of knowledge, emotional discipline, effective risk management, and patience. It requires a commitment to continuous learning, strategic planning, and the ability to adapt to ever-changing market conditions.
To gain mastery of all these, you need to give yourself time as a new trader. Impatience can stop your progress as a trader because you are expecting to be super profitable on very short notice. Give yourself time. If the timeframe that it took another trader to become profitable is a year, yours may be longer and some other people's own less, hence the importance of not using another person's time to measure your own. Aim for progress, not perfetion immediately.
Yes, these are the basic points that we must pay attention to and maybe if we sort it out further, there are actually many derivatives that we can discuss here.
One thing I can say here is mentality, mentality is very important in trading. Because if we don't have it, then everything we have planned at the beginning will not work.
I have experienced this myself when I first got to know trading. Yes, at that time I remember very well that I felt that I had prepared everything, but one thing I didn't touch was mentality. Honestly, at that time when I experienced a loss, I couldn't think normally anymore because what I felt at that time was extraordinary panic. However, as time went on I began to realize that it was a mentality that I had not formed at the beginning.