A friend of mine embarked on trading without a proper mentorship and lost all his assets.
So I want to ask? What are the criteria’s to become a good trader?
First we should define who a good trader is. A good trader isn't someone who doesn't record losses, besides there is no trader who record loss. A good trader is one who knows when to pause and re-evaluate trading strategies which brings us back to the question. To become a good trader you need to be;
- Patient enough to wait for a market you understand before you risk it.
- Intelligent enough to know when to avoid the market
- Conscious enough to know when to exit a trade
- Knowledgeable enough to always update what every strategy being used
- Wise enough to always confirm every market setup including that which are gotten from bots
Without all these knowledge, it will be difficult for you to be a successful traders in bitcoin, because it is not as easy as you see it or unlike investment in Bitcoin.
As a newbie in bitcoin all you should be concern more on, is investing in bitcoin than thinking about trading, because trading is very complex, at anytime you easily lost all your funds that you have laboured for, but in terms of investing all you have to do is have the basic knowledge,start investing using your discretionary income and adopting the DCA strategy in accumulating your satsh little by little without tempering your investment and continue reading up to become perfect, its as easy as that .