CHARACTERISTICS OF SUCCESSFUL TRADERS
Detail Oriented – It shouldn’t come as a surprise that being detail oriented is important to being a successful trader. Type a ticker wrong or fat finger a quantity and things can go south very fast. A suspected typo of 16 billion vs 16 million shares of Proctor & Gamble led to a significant dip, albeit temporary, in the markets back in 2010. And several hours of trading were halted on the NASDAQ in 2013 due to human error. Accuracy and being detail oriented are critical for trades to run smoothly. Nobody wants to deal with the stress, costs, and complications of human error.

Organized – Alongside being detail oriented is having a knack for organization. Successful traders can keep track of multiple orders and follow through until everything is fully executed. Fall asleep at your desk or forget to complete an order and the consequences could be ugly. Traders are also able to keep track of all of their trading records, likely through the use of software, so data doesn’t get lost or reported incorrectly.

Patient – Experienced traders don’t expect to make profits quickly. Value focused traders in particular are known for their patience since it can take long periods of time for undervalued securities to become profitable. Having patience can also go a long way when the markets or specific securities are taking time to recover, and avoid making a move too soon.

Able To Face Fears And Move Past Losses – Successful traders learn from past losses and move on. It’s impossible to make money on every single investment and traders realize this. So instead of harping on losses, accomplished traders use those experiences to adjust their strategies and plans on future trades.

Adaptable – There’s no doubt the economy and markets are constantly changing. Successful traders are able to recognize shifts and changes that may affect their existing and prospective holdings. Being adaptable and quickly accepting change can come in handy and lead to more profits.

Proactive Not Reactive – A rookie mistake that inexperienced traders may make is overreacting and making rash trading decisions. Experienced traders think things through before making decisions, and recognize the downsides to overreacting and reacting too soon. Keeping a keen eye out for the latest trends, from what cars people are driving, to the brand of shoes the kids are wearing, are just a few of the ways you can get new investing ideas to research further and proactively invest before the market becomes overbought.

Disciplined – The ability to focus and stay disciplined is important as a trader. Sticking to a plan, actively watching the markets, and following through are essential. An undisciplined trader could lose out on profits by overlooking significant market movements, missing industry trends, or even losing sight of his or her trading strategy.

Put Emotions Aside – You’ve probably heard someone say it isn’t wise to get emotional when investing and making trades. Research has shown that traders who are too emotionally impacted by their daily gains and losses perform worse on average than those who don’t get overly emotional. Getting too emotional can lead to overreacting, poor decision-making, and losing focus.

Look Past The Hype – It’s easy to get pulled into believing everything you read and hear in the media. However, things can get overdramatized, taken out of context, or overplayed on the news. Successful traders think for themselves, have their own opinions about current events and market trends, and make their own conclusions without getting overly drawn into the hype.

Embrace Their Inner Psychopath – Oddly enough, studies have shown that the desire traders feel to win at all costs is greater than what psychopaths’ experience. According to one German study, part of the reasoning behind this is traders are comfortable taking on more risk. Additionally, successful traders tend to make sacrifices to gain competitive advantages over others. Perhaps the craziness of high stress and adrenaline rush environments that successful traders thrive on is also a contributor.

Bitcoin, like gold has value because people believe it has value. If people value something, it is “valuable” to them. Often we attribute value to things simple because we can do something with it that cannot be done otherwise.

Bitcoin is different than fiat (Government money) in that there is nobody forcing you to use it (to pay your taxes, etc), or preventing you from using it (as in capital controls, etc).
Bitcoin is neutral: it is indifferent to where you were born, where you live, who you are, what you are buying, etc.
Bitcoin has technical properties which make it much more flexible, programmable and reliable in certain situations, so it has properties which might make it more valuable to someone who needs those.
Most of the value today is speculation because people believe it could replace many sections of our economy currently controlled by banks.
For some people, those are very valuable properties (and there are many more reasons not listed here), therefore they are willing to trade fiat money for bitcoin. That is how the price rises.

The more people put their time, energy, money and creativity into something, the more they value it usually. Therefore people like myself assign a lot of value to it as we are helping the network to grow and become more usable.

A global network of computers uses blockchain technology to jointly manage the database that records Bitcoin transactions. That is, Bitcoin is managed by its network, and not any one central authority. Decentralization means the network operates on a user-to-user (or peer-to-peer) basis.

When I first started taking an interest in cryptocurrency I thought I was so lost in this huge sea of unknowns. Where do I start? What are the useful keywords to look up and keep in mind? What are the available helpful resources? This cryptocurrency investing guide is written so that in just 20 minutes, you would have a sense of what to expect of your upcoming crypto journey, and how to best go about starting it. Enjoy it, it might just be the most exhilarating ride of your life.

The Absolute Beginner’s Guide to Cryptocurrency Investing

Rise of the Cryptocurrencies

As the tech literacy of the population increases, acceptance of crypto as a legitimate store of value follows, and it boomed. Titles along the lines of ‘Bitcoin price hits new all-time high’ and ‘Ethereum price surges’ are starting to perforate the general public’s news feed. What we know for sure is that people who were once skeptical of Bitcoin and the technology behind it are slowly understanding and getting increasingly involved with crypto. As at the time of writing, the market cap of the entire crypto space is at 30.9 billion USD. It was 20 billion just four months ago. What would it be four months from now?

Current Makeup of the Cryptocurrency Space

You would have heard of Bitcoin and the ‘altcoins.’ How this naming convention started was because back in the days of 2011, forks of Bitcoin appeared in the markets. The forks, or clones, each aspire to serve a niche area, aiming to be ‘better’ than Bitcoin. Since then countless new crypto has emerged, eroding away Bitcoin’s crypto market cap dominance. These altcoins are gaining market share at an alarming speed. Ten times or more growth has been observed in a time span as short as six weeks (see PIVX, an altcoin).

Cryptocurrency, Stocks, and Fiat

The currencies we know are referred to as ‘fiat’ by the cryptocurrency community. Although having ‘currency’ in its name, cryptocurrencies share more similarities with stocks than currencies. When you purchase some cryptocurrency, you are in fact buying some tech stock, a part of the blockchain and a piece of the network.

Cryptocurrency Exchanges

The most common place where people buy and trade cryptocurrency is on the exchanges. Exchanges are places where you may buy and sell your crypto, using fiat. There are multiple measures to judge the reliability and quality of an exchange, such as liquidity, spread, fees, purchase and withdrawal limits, trading volume, security, insurance, user-friendliness. Out of all these, I find Coinbase as the best exchange hands down. It has a beginner-friendly user interface, and an unbeatable 100% crypto insurance.

After setting up an intermediary bank account and verifying your details with Coinbase, you are only five simple steps away from a Bitcoin purchase:

Access the ‘Buy/Sell Bitcoin’ tab
Select the payment method using the drop-down menu
Enter the desired amount
Click ‘Buy Bitcoin Instantly.’
View your credited Bitcoins on your dashboard
When you get acquainted with buying crypto and start to itch for some crypto trading (e.g. BTC/ETH), simply perform an instant transfer from Coinbase to GDAX free of charge and start trading. Think of Coinbase as the place to conveniently buy and store your crypto and GDAX as your margin trading platform. Transfers between the two are instant and free.

As you slowly get familiar with other currencies, you might want to have the option of investing in them. Bittrex and Polo are two exchanges that offer a wide selection range.

When signing up on these exchanges for the first time, do make it a point to verify your account with the required documents early, as you do not want to be caught in the middle of some tedious and slow admin work when the trading opportunity comes. Verification on these exchanges may take days, and purchase/withdraw limits may only increase gradually as you trade.

An additional point to note: if you are using a currency other than USD, do check out the exchange’s ease of funding and withdrawal. You do not want your exchange to come into fiat withdrawal problems like Bitfinex did recently.

Cryptocurrency Wallets

Exchanges have inbuilt online wallets to keep the cryptocurrency you purchased. However, for those who heard of the Mt. Gox hack, you might feel uneasy to put on an exchange. If you do not wish to keep your crypto holdings on the exchange, you have the option to either use a paper wallet service like myetherwallet.com or spend 99 USD on a hardware wallet like KeepKey. Both serve the purpose of removing platform risk, at the cost of taking up the responsibility of keeping your cryptocurrency safe.

To transfer your crypto from exchanges to your hardware wallet for long term storage, simply follow these steps, using Coinbase and KeepKey as an example:

Plug in your KeepKey USB cable
Open your KeepKey Client (on Google Chrome under Apps)
Find your wallet address on the KeepKey Client UI
Access Coinbase ‘Send/Request’ tab and input your KeepKey wallet address
Confirm amount and click ‘Send Funds’
Take note to first send a tiny amount (e.g. 0.0001 BTC) for testing before sending the bulk, lest an error occurred and the transfer amount is lost. A small network transfer fee might be charged.

Personally, I own a hardware wallet, as I love the feeling of a having around a tangible reminder of my crypto holdings. Also, the hardware wallet’s user interface makes it easy to keep multiple coins, which is especially handy when you participate in ICOs (Initial Coin Offering) in the future.

Cryptocurrency as a Percentage of Your Investment Portfolio
This part will be wildly subjective. Crypto has the potential to realize many ‘rags to riches’ stories, but its volatility makes it unpredictable. As a precaution, the money you put in crypto should be money that you are fine with losing. I cannot emphasize the importance of this as we often underestimate how the volatility affects our emotional capacities. The upside is huge, but it comes with lots of risks and, if I may put it, emotional torment.

A conservative portfolio I would suggest is as follows:

< 30 years old (max) 30% Crypto, 50% Traditional Investments

30 – 40 years old (max) 20% Crypto, 60% Traditional Investments

> 40 years old (max) 10% Crypto, 70% Traditional Investments

This is not meant to be age discriminatory but considers the fact that one takes up more financial responsibilities (mortgage, family) as he grows older.

Within the designated crypto share of your portfolio, you may diversify your coins based on your risk appetite.


Show Me the Money!  Cryptocurrency Investing
Now, this is where it gets exciting.

How do we pick the winner? How do we avoid picking the loser?

Note that crypto is now in a huge bull market and anything could rise over time. Also, do not dismiss the possibility that we may be in a bubble like the-dot-com boom back in 2000. Still, ask yourself these questions before you decide to invest in a coin:

Are my investments safe with the dev team? The first rule of investing should always be the preservation of capital. Can you trust the dev team with your money? Are you about to leave your money with founders who have been involved in previous scams? If you see these telling signs, back off immediately. The coin’s price might grow for all you care, but it is just not worth it to put your capital at such risk.
Does my coin of interest have a long-term plan? If you cannot understand their yellow paper, at least read their white paper. What are the team trying to achieve? Do they have the means, or have they already worked towards their goals? What are the timelines and milestones?
Does my coin of interest seem like a well-marketed plan with no backup? Lots of ICOs these days just have a pretty webpage, and then they’re shipped out to sell. Watch out for these: are they able to deliver?
How long should I stay in this? Do I have an exit plan? There will be coins where you do not want to hold forever, but wish to flip for some short-term gains. In this case, be sure to set a timeframe, or an exit price, to reduce to effect of emotions on your trades. Stick to your plan and watch your emotions.
Does it have a real-world use case? Some coins seem to keep increasing in value simply due to supply-demand factors. This trend might not be sustainable. For a coin to have long term supported value, it must have a real-world use case eventually. Look out for coins that look too much like a get-rich-quick scheme.
 

Short Term Trading with Margin

Once you get familiarized with crypto, you may want to trade on your ‘stash’ in hopes of increasing it. For the experienced forex traders, this is nothing new. But for the new crypto investor, you may want to brief up on how to make a leveraged trade.

Short-term trading takes advantages of incoming news to make a quick buck. If you foresee good news from an upcoming release of a coin, you may want to open a long and see how it goes. Remember, buy the rumor, sell the news; act fast and be daring if you wish to make a profit with short term trading.

Mining

For those who are more comfortable with a predictable form of reward, mining is the way. Mining involves setting up of a rig, consisting of GPUs or CPUs and an investment in the electricity. Mining is only possible on cryptocurrencies that follow the Proof of Work protocol. It takes some effort to setup and gets things running, but it is attractive as a long-term passive income as long as you frontload the work.

Staking

Staking is the Proof of Stake version of ‘mining.’ Think of this as making dividends on your stock. The reward rate and staking method differ greatly among Proof of Stake coins, but in general, it takes less effort as compared to mining.

Arbitraging

As you get a hand in multiple exchanges, you may wish to buy from one exchange and sell on another to make ‘arbitrage’ gains when you spot an arbitraging opportunity. Take note of two things if you wish to do so: remember to factor in fees, and remember that the price could change when you are transferring your coin between exchanges, especially during volatile times. USD tends to be liquid so this happens less for it, but for other currencies such as CAD (Canadian dollar) and SGD (Singapore dollar), there may exist more arbitraging opportunities to exploit.

Helpful Resources

Check out coinmarketcap for the tabulation of various coins’ market cap and price. Check out cryptowat for the prices of popular coins across different exchanges. Check out the respective coins’ subreddits for available news and market sentiments. Lastly, check out hhypecoaster for how much more crypto you need for a Lamborghini Aventador 🙂

That’s about all I have, for now, invest smart and most importantly, don’t forget to have fun!

How does Bitcoin price fall and rise?

Exactly the same as any commodity price in the world falls and rise. The law of supply and demand. It never goes out of fashion, does it?

The price of a bitcoin is tied purely to the laws of supply and demand. In other words, the price is determined only by what the market contributors are willing to pay. If more people want to buy bitcoins, then the price will increase. If more people want to sell, the price will decrease. That’s how it works. Pretty much the same?

But why does it fall and rise so often? or why is so much volatile?

Boom - More and more people are finding out about it and they want’s their hands full.

Relatively small market size - Bitcoin’s value can be volatile when compared to more established currencies and commodities. This can be attributed to its relatively small market size, and it means that a smaller amount of money can move the Bitcoin price more significantly. This discrepancy will decrease naturally over time as the currency matures and the market size increases.

There are many other factors involved but I guess these are the important ones.

Recently there have been a lot of accusations, that because of extreme popularity and spread of bitcoin mining in China “mining centralization” occurs. Experts estimate that around 71% of bitcoins are now mined there. China not only produces most of mining equipments, but also huge mining farms are located there, taking advantage of cheap electricity. China is also a leader in number of mining pools — collaborations between individual miners and mining companies. China is home to four of the five largest Bitcoin mining pools. Before Beijing banned ICOs (Initial Coin Offerings), China accounted for 90% of all bitcoin trade. Having so much mining power centralized in one country put in doubt decentralization of Bitcoin and exposes the Bitcoin network to a worrying degree of political risk.
But…
… despite all the above-mentioned factors, still Bitcoin is decentralized.
The crucial distinction between system of traditional money and cryptocurrency is that if you use crypto, you have the right and possibility not to hand your money to third parties, while in case of fiat you just can’t avoid that. Also if you use fiat money, your life is traced through your bills — whatever you do, you can’t stay unnoticed. Talking about crypto: yes, many people use exchanges and third party services, because it’s easier to manage their digital money that way, but they can deal with their crypto funds directly, keeping anonymity and privacy. While a user of fiat is always forced to use centralized service, Bitcoin user is never forced to do it. They can, for their own convenience, use exchanges or other services — but they are never forced.
System of traditional money is centralized, and the clear proof of it is that only government controls money and has the right to issue it. Try to invent your own money — you will be punished by the law. But nobody can prohibit you from inventing your own digital currency — it will cost as much as people are ready to pay for it, and now we can see the birth of new cryptocurrencies almost every day.
Cryptocurrency removes a whole layer of banking bureaucracy, giving you financial freedom. Even electronic payments can’t give this freedom — PayPal, for example, can freeze your account any time it has any suspicions. Nobody can ever freeze or forbid you access to your Bitcoin wallet. You don’t leave any personal information while using cryptocurrency. You are the only one who has access to your funds.
So, answering the question “Is Bitcoin truly decentralized?”, we will say with absolute certainty: “Yes, it is”.

Online Home Income recommends earning Free Bitcoins as number FIVE option to Earn Money Online. Because Earning bitcoins is really easy and free to join. You can buy anything by using your Bitcoins.

Let’s spend your further time usefully to learn the various useful information about this digital currency.

Bitcoins were invented in 2009 by Satoshi Nakamoto, to empower the digital transaction between the countries.

On the year of invention, the value of 1 Bitcoin was just Re. 0.40 INR [$0.0001], but in 2018 it’s price were increased to more than Rs. 10 lakhs [$15000].

You can easily become a millionaire when you earn bitcoins and hold in your blockchain wallet.

You will learn how to make it possible at the end of reading this article.

Long-term investments represent sizable outlays of funds that commit some course of action. Consequently, you needs procedures to analyze and properly select its long-term investments. It must be able to measure cash flows and apply appropriate decision techniques.

How to earn merit? I dont understand the merit system...can someone to help me how to earn merit?can you give some idea?thank you in advance

Bitcoin is a crypto currency use worldwide for payment in selected establishment...it was develop in 2009 by alias Satoshi Nakamoto...its price is not stable its always reclining and declining...

In the past history they are using gold and silver coins to buy something,why should we go back in the currency that the world can provide advance  and state of the art currency like bitcoin or crypto currency?

Yes it is possible multiple campaign in facebook etc. as long as you can follow the instruction without violating and complete the task that is needed and this is the big chance to earn bitcoin

Yes that is true you need more patience crypto business,in real many go to short period of time in investment,we dont need to be aggresive in trading you dont need to be aggresive by warning in short term

Your post or activity deleted by moderator due to the quality of the post and off topic...I have experience of deleted post without notifying

you are not allowed to join bounty signature campaign you need to rank up to junior member first,post thirty post to reach jr member,

yes! You just join the bounty signature campaign to earn some bitcoin,you just finish the campaign and earn...the higher rank you have the reward await for you

when the price is dropping its not the right time sell but for the buyer or investor  this is the oppotunity to buy bitcoin,it will be beneficial for you if invest for buying bitcoin in the near future.

In any kind of trading business losing money is in the first stage,but losing is the key to succes...just always keep in mind the determination of being a successful trader...

Thats true when becomes to future technology it actually makes our life easier to live with.but technology have some positive and negative effect...