Rule of thumb in trading any markets: Do not trade what you cannot afford to lose. So, it means it depends from one trader to another! Good luck fellas! May the odds be ever be in our favor!!

Being a good trader needs a lot of work. It's not something accomplished overnight. Read books, find a reputable mentor, and surround yourself with like-minded individuals to achieve your goals.

Indeed this is the only possible way to fund your trading account not shelling out money from your pocket, but it takes time and effort to earn from bounty campaigns. So, if I were you, if your purpose is to only practice trading, do virtual trading instead. Just fund your account with real money once you master your trading skills. That way, the risk of losing your money will be lessened at least.

Just like trading any market. There is a cycle that needs to happen. Right now, let's just say that BTC is taking a break. Some may say that it is only gaining strength or sleeping, but then eventually it will wake up and do it's thing whether go up or go down further.

Of course, paper trading is a good training ground before using real money. There are 2 things that are essential in paper trading. The first one is you can trade and try out different trading styles/systems and find what works for you best. Number two would be assessing yourself whether you're ready or not in trading with real money depending on the result of your paper trade. For instance, if you can consistently win/profit in you paper trade for say several months, it can boost your confidence in real trading arena therefore executing each trade better.

Learn how to interpret price actions in congruence with some but not too many indicators such as moving averages, RSI, Fibonacci, etc. Then test what you know using a virtual trading platform, so you won't use real money. After mastering your craft and you already have a solid system backtested in virtual trading, load up a small live account, try to grow and consistently profit using that small capital first. Once you know your niche in trading already and you know your numbers (i.e., win rate ratio and percentage of winning vs losing trades, you can now then gradually increase your trading capital. In this game, you first have to survive and protect your capital, the money will follow if you have developed the right process and mindset. "To win the game, you have to stay in the game"

If you want to be consistent in trading. Avoid going all in. Risk management plays a very important role in this game. The goal is to be consistently profitable in the long run, and you cannot do that if you lose most of your bullets in a single shot.

Charts will tell you all. It will tell you if the trend is over or if it is just starting. Price action comes first before the news hits off or any fundamentals. It pays off when you study hard first before giving it a shot. Good luck! May the odds be ever be in our favor!

For beginners, I would suggest develop your own trading system first. You can do virtual trading to backtest your idea or system or indicator. That way, you will not lose your money just because you don't know what you're doing. There's a saying that in trading, "you earn by taking away the money of those who did not put in the hours of hard work."

My friend, put this in mind. Luck is when preparation meets opportunity. So, focusing on self improvement rather than thinking that luck is the biggest factor in trading will make you move forward. Stop procrastinating. You will see, the harder you work, the luckier you will be both in trading and in life. Invest in yourself first, study, learn, motivate, develop winning mindset. You have to undergo the right process, money will follow. No shortcuts.

Lucky you indeed! But be sure to not just focus on your luck. Focus on improving yourself because in the long run, if you don't know what you're doing, all your gains will turn into losses. So, if I were you never stop learning and be the best trader that you can be! Good luck! May the odds be ever be in our favor!

Educated means you put in the hours to study and learn trading matters. It doesn't necessarily need to be formal education or enrolling to a school. Educating yourself can be free or paid. You can have online resources, mostly are free; you can attend seminars or buy books to enhance your knowledge. You can watch YouTube videos regarding trading, systems, styles, techniques. All of those are form of educating yourself to be a successful trader. So, if you're asking if a successful trader needs to be educated, the answer is a big YES!

It's easy to become a trader; what's difficult is to become a profitable and consistent trader. So, if you really want to become a profitable trader, you have to work hard. Read books about technical analysis, follow the right people who succeed in this craft, watch videos about trading, read books about motivation and watch motivational videos because you really need motivation in this craft. This won't be easy, it's a long road so better be prepared. I'll tell you bro, it's not an easy money. This is the hardest way for that "easy money." Hope it helps! 🙂

Learn to cut without mercy. If cutloss point is hit, cut immediately before you turn your loss into bigger ones.

Based on your post, it seems that you bought high, and now hoping the price to recover, am I right? If I were you, I will study first technical analysis. Look if it's worth holding your position or it's better for your wallet and your psyche to sell it now before things get worse. Being a technician gives you all the signals to buy or sell even before any news comes out of nowhere. You just have to master your own craft. Take time to read and study charts. You will thank yourself in the future if you do so. 😊

Learn basic technical analysis first bro! Do not burn your money. Believe me, you may get lucky a few times but it will go to waste of you don't really know what you're doing. Focus on the long term.

Two things. Pullback and breakout. In trading, most traders (seasoned not newbies) either buy on breakout or wait for pullbacks and then sell using trailstops or Target prices. By doing so, you must identify correctly the support and resistance area where price would likely react. Of course, you may want to study technical analysis to do that properly.

It's a skill that you have to harness in order for you to be profitable. A great trader once said, "the harder I work, the luckier I get". 😋

Invest in books and learning materials. That way, you'll than yourself in the future.

No. It's not as easy as it may seem. You have to really study. No shortcuts. You may be lucky at some point, but consistent profitability is the way in this game or else you'll end up losing your money easily.