Are you on the profit side as a crypto trader?

[sincerem]

Remember, not everyone that calls themselves crypto traders are making money trading crypto, majority are simply in floating loss. Not that they are inexperienced, but due to the high level of risk involved in cryptocurrency which comes as a result of it's volatile nature. Me and you know that, crypto goes unpredictable at times, even the so-called experts lose money trading crypto, talk more of novice traders.

If you apply discipline in your trading time, you'll not suffer losses bigger than your profit provided you have basic knowledge around crypto. You can choose to invest in low risk investments instead of opting to go for high risk investment options like, Futures contract, or margin trade. Those options are mainly for expects. Most newbies make sort of mistakes going into it, which made them losing all their assets within short period of time.

Do you consider yourself being on the profit side trading crypto?
Share your opinion!

 

[Sotherefore]

Remember, not everyone that calls themselves crypto traders are making money trading crypto, majority are simply in floating loss. Not that they are inexperienced, but due to the high level of risk involved in cryptocurrency which comes as a result of it's volatile nature. Me and you know that, crypto goes unpredictable at times, even the so-called experts lose money trading crypto, talk more of novice traders.

If you apply discipline in your trading time, you'll not suffer losses bigger than your profit provided you have basic knowledge around crypto. You can choose to invest in low risk investments instead of opting to go for high risk investment options like, Futures contract, or margin trade. Those options are mainly for expects. Most newbies make sort of mistakes going into it, which made them losing all their assets within short period of time.

Do you consider yourself being on the profit side trading crypto?
Share your opinion!

To me I consider trading of cryptocurrency as another online business entirely and is not simple as we are making money on paid to post here .



From my experience I don't really think discipline is really necessary at the early stage especially when we don't really understand what trading is all about , The knowledge is what we have to be keen to know .



When we understand what trading is all about it will be quite possible to make money and automatically we can be able to apply discipline . I don't believe it is quite possible for us to apply discipline in something we haven't uncovered its hidden secrets and strategies .



There are so many things we haven't understand about cryptocurrency until we are opportune to go into the deep technical and fundamental aspect of cryptocurrencies.



So many people are losing their hard-earned money in the crypto space just because they don't really understand what this trading is all about and i was one of them in the past.



Well I understand the fact that trading of cryptocurrency is quite profitable because I have seen so many people who are really trading and are earning perfectly, but they are top expert.

 

[sincerem]

I understand your point dearie, when it comes to cryptocurrency trading, we need to apply knowledge first, which I saw described in my content, their is no way a beginner can go into crypto and applying discipline without a basic knowledge of what crypto is all about. I stated also, that a trader should start with less risky trading choice to avoid series of loss due to lack of knowledge. When it comes to Futures, margin type of trading, that's the option where an amateur or beginner can blow-up his or her entire trading account within some moments, due to inexperienced. But if you have basic or background knowledge around crypto, understand how to buy and sell, understand volatility aspect of it. You can simply start with spot trading, it doesn't require much knowledge like, having fundamental analytical skill, where you need to analyse the position of the coin and their prospective prices. In spot, you can trade by taking signal from an expert or someone who is more knowledgeable than you if you're a beginner, then place the trade on any pair. Remember, spot can go on a perpetual contract, you can leave it open as much as you want until you see profit.

 

[Mika]

I am not exactly a crypto trader even though I have done crypto trading a couple of times. I am more of an investor, a long-term investor, to be precise. However, my trading has not been on the losing side until now. I have done three types of crypto trading
Arbitrage trading: This is a process to buy crypto on the exchange where it is listed for a lesser price and the sell on the exchange where the same crypto is listed for a comparatively higher price. When you are dealing with a lot of cryptos even 15 cents price difference will earn you a lot of profits. Sometimes this can be risky especially when the trading order takes a long time to execute and the price starts going down on the exchange where you want to sell.
Spot Trading: Spot trading is basically exchanging your one crypto with another crypto with an intention of earning profits. Litecoin is a popular payment option because of its small transaction fees and faster transaction speed. However, based on market performance, it is not profitable crypto. Therefore, whenever I receive litecoins, I immediately spot trade with other more profitable coins, BNB for example.
I also do P2P trading.

 

[Ithedicious]

To me I consider trading of cryptocurrency as another online business entirely and is not simple as we are making money on paid to post here .



From my experience I don't really think discipline is really necessary at the early stage especially when we don't really understand what trading is all about , The knowledge is what we have to be keen to know .



When we understand what trading is all about it will be quite possible to make money and automatically we can be able to apply discipline . I don't believe it is quite possible for us to apply discipline in something we haven't uncovered its hidden secrets and strategies .



There are so many things we haven't understand about cryptocurrency until we are opportune to go into the deep technical and fundamental aspect of cryptocurrencies.



So many people are losing their hard-earned money in the crypto space just because they don't really understand what this trading is all about and i was one of them in the past.



Well I understand the fact that trading of cryptocurrency is quite profitable because I have seen so many people who are really trading and are earning perfectly, but they are top expert.

Thank you so much for this write, I am really interested to be learning so many things from you and I have been reading your comments most of the time to get experience of so many things around the crypto market.

A lot of people have told me severally that cryptocurrency is quite risky and it will only require a perfect understanding of cryptocurrency to be able to make profit. But I didn't really understand until you were able to explain it up there what is like to trade cryptocurrency .

Now I understand why so many people are not succeeding.

That really shows that we can't just be successful by just looking forward to trade what we do not understand , the best thing we just have to do is to try to get the required training just like you have explained.

For now I won't really want to go near trading of cryptocurrency with my money until I have been able to really understand what cryptocurrency is all about .

I can only consider to trade when I understand that the possibility of losing my money is quite low. I don't want to engage in journey that won't really be profitable to me.

 

[Yugocean]

I only traded small amount, I don't even consider myself as a crypto trader, but I have my exchange, and do amal trading. I learned a lot. After many ups and downs, panic sale, greed buy etc, I learned how to keep myself above this, and accept with satisfaction, going up with small profit was the best decision. There are lot of strategy to make.

 

[Lens1000]

Have not started trading the cryptocurrency yet but probably, I Will start trading in the offing . The best thing that a cryptocurrency trader should do is to actually try to get the needed knowledge around the technical analysis. The technical analysis is one of the best knowledge to acquire in cryptocurrency trading. You should try as much as possible to be able to study the price action of the cryptocurrency market. This is basically the need knowledge. Using the pure price action to determine the next direction of the trend is also a very important thing that must be done in cryptocurrency. It is therefore a very important thing to learn first . Apart from the use of the pure price action, one should be able to make prediction using the candlesticks patterns. I agree that this is indeed one area of the cryptocurrency technical analysis that is very wide but I am quite sure that one will be able to make headway if you actually plan to use this medium. You could also use some indicators to help the strength of your market prediction. However, I will not dispute the fact that one actually needs the knowledge of the fundermental analysis too.

 

[Yugocean]

Today on Bear side, yesterday was on Bull (profit) side.
Traders cannot decide when it will bull or bear.

Although I have discipline, but that has no guarantee when you are trading, market may crash anytime. Yet I was able to keep 70% of my asset in stable with discipline.

 

[Limivorous]

I won’t say if I am making profits or not but I can tell you that I am surely getting better at trading and learning a lot of new things by deciding to become a trader. Of course making profit is the end goal for everyone. But since I am fairly new to the crypto currency world, I will consider this a learning period and consider the profit aspect and feasibility of trading at a much later point.