Although trading is a "simple" profession if we consider the effort-reward relationship from a physical point of view since you could make thousands of dollars a day sitting from your bed. However, it is a career that requires a lot of discipline, analytical skills, control over your own emotions and sometimes even sacrificed hours of sleep. The top crypto traders even tend to lead healthy and strict lifestyles to maintain the correct habits to favour their operations.
Disclaimer: this is not investment advice and we are not investment advisors. This should be considered for educational purposes only. Never invest more than what you are able to lose.
It is known that approximately 90% of traders fail, and this is because they fail to develop an accurate view of the market. Clouded by greed, revenge, and nerves, the vast majority of traders close or mess up their own trades. To be successful in trading, self-control is mandatory, which is why the top crypto traders are so recognized.
A good trader is one who manages their positions around their risk / reward ratio, maintaining good risk management to minimize losses and maximize profits. Even if you lose more trades than you win, you will maintain a positive balance in your account.
In the crypto community many traders have stood out, but if there is one thing we can be sure of, it is that we will continue to see top crypto traders succeed in this market. Among these traders, we can follow the trading tips of:
These traders use Twitter to talk about market movements and giving trading advice.
The first thing to understand is that getting rich from trading quickly and without getting tired is a dream.
Of course, with trading you have the possibility to get rich, but not quickly, and not without effort. Well, at least not without effort.
But -as we mentioned earlier- it is not the effort of the miner, the bricklayer, the worker, not even that of the employee who gets up every morning at 6 to spend 8 hours in the office supporting the boss, nor that of the employer who works 14 hours a day, Saturdays and Sundays, and he has to beg the banks to grant him loans.
Everyday life is what will allow you to detect market patterns that are formed through the trend and how the candles behave in the face of volatility. Stopping looking at the charts for many days will definitely make you lose track of good trading opportunities.
Don’t use all your money
To trade, you have to invest. Or, better, have a minimum capital that you can afford to lose. I'm not saying you have to lose it, but be prepared so that if you make a series of mistakes and lose your capital, it won't catch you off guard.
Obviously, if you study, practice and consider trading, you will minimize the possibility of losing your capital. But it can happen, and it shouldn't be about the money you need to live.
For some, it will come naturally, and for others (most) it will be a long and painful process of acquiring the right attitude to trade. The best way to develop a good mindset and control your psychology is by creating good trading habits and setting parameters for your daily tasks. You trade to earn a daily amount while your capital grows fat, do not try to get rich in one day.
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