How can I become a millionaire by trading?

[tradingstrategies]

Another valuable tip that traders can follow to become rich is to put resources into excess of a solitary resource. This way their dangers are spread across numerous speculations. Not all stocks or resources will perform ineffectively; regardless of whether any of these neglects to return benefits, you can like to bring in cash through the others.

 

[kayode10]

It is possible to make to become a millionaire by trading cryptocurrency. there are many people who are making full-time income just by trading cryptocurrency.

You need to have a good plan on ground which you are going to follow to become millionaire by trading cryptocurrency or any other thing.

Here are some of the steps you need to take if you want to become a millionaire by trading cryptocurrency.

Find a mentor
Find a mentor that will put you on the right track to become a millionaire by trading cryptocurrency online. Preferably you should choose a mentor that has a good track record and who is also a millionaire from trading.

Start small
You should start small when you are beginning with cryptocurrency trading. This will help to put your emotion in check. Rather than putting all your life savings into the trading.

Have a goal
It is very important to have a goal you want to achieve from trading cryptocurrency. Not only that, you should be able to come with with plan on how you are going to achieve that.

Consistency
You are going to learn a lot if you are consistent with your trading. You have to think a long term as this is the way to become a millionaire from trading.

Have existing Stratey
This is very important as it will prevent you from losing after you have seen substantial amount from trading cryptocurrency.

 

[Kingsley]

I have heard so many people making a very bold claim that you can make millions from trading in crypto currency. Infact so many people have invested their life savings into crypto with the impression that they will become millions and even billionaire over night. But this is not true as somany people have found themselves heavily indebted because they ventured into crypto trading and some have even lost all their life long savings.

The truth about crypto currencies trading is for one to acquire enough training and more training, even after all the training it still does not guarantee anything. The reason I said so is because the market is not been controlled by a central controlling unit systems, hence it is very difficult to predict. One might think and do enough analysis and think the market is going upwards and maybe very disappointed if something event somewhere affects it prices, this will be worse mostly if you are trading on futures or margin either isolated or cross, because you asset might get liquidated all at once. And again you might consider that the market is going downwards and you will see it going reverse. The market is comtroll3by forces of demand and supply.

 

[Good-Guy]

I think it is actually a good thing that you think about becoming a millionaire and this shows that you have the desire to make money. I do not know a lot about the best stock trading strategy, but I could offer you some advice about how you could make money dealing and trading in cryptocurrencies. Please take my advice with a pinch of salt because I am not at all a cryptocurrency expert. First of all, I think both the cryptocurrency trading platforms and stock market trading marketplaces offer the option to restrict the loss. They offer the "Stop Loss" function that could be used to significantly reduce the losses.

Thirdly, it is always a much better idea to consistently read the news about the cryptocurrency market daily. You must also seek the advice of knowledgeable and expert traders who have much experience in this regards. Even many good traders lose money. So you must never expect to make money all the time. You must also prepare a great risk minimizing trading strategy to drastically reduce your chances of suffering from loss. Never even think about investing the amount you do not desire to lose at any cost. If you follow these steps, you will become a good trader.

 

[Chibson]

I have had the privilege to chat with successful cryptocurrency traders online and I can say that one of the most commonest attributes among them is risk management. if you want to become a successful trader it is quite very important you try as much as possible to learn how to manage risks. when many people are trading cryptocurrency they always bring their emotions and this is one of the easiest way to lose all your money. It is quite very important you set your on target and follow them strictly even if the market is going up it is very important you take your profit and move on instead of trying to catch the peak. As a cryptocurrency trader, it very much important you always listen to cryptocurrency news because this is one of the easiest way to know a coin that will definitely pump because in cryptocurrency, fundamental analysis is much more effective than technical analysis. it is also very important for you to learn technical analysis because it will help you to read charts and movement of coins to know the direction in which the market is heading, even though it is not hundred percent correct sometimes but it is quite very important and necessary if you really want to achieve financial freedom through trading.

 

[Deleted member 13140]

Very simple.. no stress, there is a girl on instagram that trades stocks and seriously she's rich. She's just 17 this year, I mean what she made for herself is really amazing, but there is one tip she gave for anyone wanting to get rich from trading, never start trading if you don't have the money. And when she says this it doesn't mean you don't have money to spare, she means if you don't earn consistent income monthly don't trade, you'll lose. Very simple.

But if you earn consistently then bring out a percentage monthly and learn trading you won't regret it, and I support this advice.

 

[Ahmedo24]

Undoubtedly you can't become millionaire without taking risk and trading cryptocurrencies or forex trading can easily make you a millionaire if you know the technicalities behind trading them all the assets rather. You just have to invest in different coins when you are dealing with cryptocurrency is all the challenges that bitcoins to determine the wave of the market unlike forex trading where one currency doesn't determine the direction of the market as you can see currently the market is down in cryptocurrency because bitcoin prices down but if you're able to invest when the price is about to recover back tell you are likely going to make huge profit especially from altcoins as they rise much faster than Bitcoin.

 

[Sotherefore]

The market is extremely volatile and that is what every traders and those that are coming newly have to understand that for you to be able to overcome the volatile market you will need a perfect understanding of how to spot the best entry points in a particular cryptocurrency you are investing on..

It is always a gradual process and it's not something to expect a quick profit within a short period of time and I may even suggest that in the first five months of your time in the cryptospace , it should be mainly for the learning process and not actually the main purpose of earning a profit.

This will really help you to be so dedicated to spend most of your time to learn about the volatile market and I may also advise that you get an expert to help you in some of your trading plans and strategy, I have a friend who spend hundreds of Dollars to get adequate training on how to trade cryptocurrency perfectly and best on what I am seeing he is now able to generate profit for himself by trading the crypto market without looking for an expired to give him signal

It all depends on your level of seriousness.

 

[eldavis]

To become rich from trading , be it forex trading or trading the crypto market, you need time. No need being in a hurry cause it's not a get rich scheme. A coach once said study more and trade less. Always make sure you go through proper training before trading, the learning process never ends, you keep learning and learning.itd good to be consistent but while doing this, learn how to manage your risk and at the same time do not trade more than what you are okay with loosing.