Home
Forums
New posts
Search forums
What's new
New posts
New profile posts
Latest activity
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Home
Forums
CARDING & HACKING
CRYPTOCURRENCIES
A beginner's guide to Bitcoin trading
Message
<blockquote data-quote="Greenhost" data-source="post: 670" data-attributes="member: 20"><p><strong>Mistake # 3 - Leaving Money on the Exchange</strong></p><p><strong>This is the most basic rule for any crypto trader: NEVER leave your money on an exchange that you are not currently trading on. If your money is on an exchange, it means that you have no control over it. If the exchange gets hacked, goes offline or stops working, you could lose this money.</strong></p><p><strong>Whenever you have money that is not needed in the short term to trade on an exchange, be sure to move it to your own Bitcoin wallet or bank account for safekeeping.</strong></p><p><strong></strong></p><p><strong>Mistake # 4 - Falling into Fear or Greed</strong></p><p><strong>The actions of many traders are usually controlled by two main emotions: fear and greed. Fear can manifest itself in the form of premature closure of your trade due to the fact that you have read disturbing news, heard a rumor from a friend, or were afraid of a sudden drop in price (which may soon be corrected).</strong></p><p><strong>Another important emotion, greed, is actually also based on fear: the fear of missing out. When you hear people talking to you about the next big event, or when market prices skyrocket, you don't want to miss it. Thus, you may enter a trade too early or even postpone the closing of an open trade.</strong></p><p><strong>Remember that most of the time we are driven by our emotions. Therefore, never say, "This will not happen to me." Remember your natural tendencies towards fear and greed, and be sure to stick to the plan that was developed before you started trading.</strong></p><p><strong></strong></p><p><strong>Mistake # 5 - Not Learning a Lesson</strong></p><p><strong>Whether or not you've made a successful deal, there is always a lesson to be learned. Nobody succeeds in making only profitable trades, and nobody gets to the point of making money without losing a little money.</strong></p><p><strong>It is not important whether you make money or not. Rather, the point is whether you got a fresh perspective on how best to trade next time.</strong></p><p><strong></strong></p><p><strong>7. Frequently Asked Questions</strong></p><p><strong></strong></p><p><strong>How to trade bitcoin?</strong></p><p><strong>To trade Bitcoin, you need to do the following:</strong></p><p><strong>Open an account on the bitcoin exchange (see below)</strong></p><p><strong>Verify your identity</strong></p><p><strong>Deposit money into your account</strong></p><p><strong>Open your first position on the exchange (for example, buy or short)</strong></p><p><strong></strong></p><p><strong>Is day trading a good way to make money?</strong></p><p><strong>Day trading is just one of the many methods you can choose to trade. Other examples include swing trading or scalping.</strong></p><p><strong>While many people will argue that day trading is a good way to make money, over 90% of people quit day trading in the first 3 months.</strong></p><p><strong>Any trading strategy can work if you are consistent and willing to put in the time and effort to learn how to be better than other traders.</strong></p><p><strong></strong></p><p><strong>8. Conclusion</strong></p><p><strong>We have covered a lot of questions about trading bitcoin, but I must warn you: most people who start trading bitcoin stop after a short time, mainly because they are unable to make money successfully.</strong></p><p><strong>Here's my opinion: If you want to be successful in trading, you, like in any other venture, will have to spend a significant amount of time and money acquiring the appropriate skills. If you are looking to trade in order to make quick money, then it may be best to avoid trading altogether.</strong></p><p><strong>There is no such thing as quick and easy money - without risk or disadvantage at the other end. However, if you are keen to learn how to become a professional bitcoin trader, take a look at our resources section below. These resources will help you get the best tools and keep learning.</strong></p><p><strong>You may still have questions. If so, just leave them in the comment section below.</strong></p></blockquote><p></p>
[QUOTE="Greenhost, post: 670, member: 20"] [B]Mistake # 3 - Leaving Money on the Exchange This is the most basic rule for any crypto trader: NEVER leave your money on an exchange that you are not currently trading on. If your money is on an exchange, it means that you have no control over it. If the exchange gets hacked, goes offline or stops working, you could lose this money. Whenever you have money that is not needed in the short term to trade on an exchange, be sure to move it to your own Bitcoin wallet or bank account for safekeeping. Mistake # 4 - Falling into Fear or Greed The actions of many traders are usually controlled by two main emotions: fear and greed. Fear can manifest itself in the form of premature closure of your trade due to the fact that you have read disturbing news, heard a rumor from a friend, or were afraid of a sudden drop in price (which may soon be corrected). Another important emotion, greed, is actually also based on fear: the fear of missing out. When you hear people talking to you about the next big event, or when market prices skyrocket, you don't want to miss it. Thus, you may enter a trade too early or even postpone the closing of an open trade. Remember that most of the time we are driven by our emotions. Therefore, never say, "This will not happen to me." Remember your natural tendencies towards fear and greed, and be sure to stick to the plan that was developed before you started trading. Mistake # 5 - Not Learning a Lesson Whether or not you've made a successful deal, there is always a lesson to be learned. Nobody succeeds in making only profitable trades, and nobody gets to the point of making money without losing a little money. It is not important whether you make money or not. Rather, the point is whether you got a fresh perspective on how best to trade next time. 7. Frequently Asked Questions How to trade bitcoin? To trade Bitcoin, you need to do the following: Open an account on the bitcoin exchange (see below) Verify your identity Deposit money into your account Open your first position on the exchange (for example, buy or short) Is day trading a good way to make money? Day trading is just one of the many methods you can choose to trade. Other examples include swing trading or scalping. While many people will argue that day trading is a good way to make money, over 90% of people quit day trading in the first 3 months. Any trading strategy can work if you are consistent and willing to put in the time and effort to learn how to be better than other traders. 8. Conclusion We have covered a lot of questions about trading bitcoin, but I must warn you: most people who start trading bitcoin stop after a short time, mainly because they are unable to make money successfully. Here's my opinion: If you want to be successful in trading, you, like in any other venture, will have to spend a significant amount of time and money acquiring the appropriate skills. If you are looking to trade in order to make quick money, then it may be best to avoid trading altogether. There is no such thing as quick and easy money - without risk or disadvantage at the other end. However, if you are keen to learn how to become a professional bitcoin trader, take a look at our resources section below. These resources will help you get the best tools and keep learning. You may still have questions. If so, just leave them in the comment section below.[/B] [/QUOTE]
Name
Verification
Post reply
Home
Forums
CARDING & HACKING
CRYPTOCURRENCIES
A beginner's guide to Bitcoin trading
Top