Tag: how to trade crypto

  • How do I teach myself crypto trading?

    How do I teach myself crypto trading?

    If you’re interested in learning how to trade cryptocurrency, you’re not alone. The market for digital currencies has exploded in recent years, with many people looking to get in on the action. However, crypto trading can be risky and it’s important to approach it with a solid understanding of the market and a well-thought-out strategy. Here are some tips for teaching yourself how to trade cryptocurrency.

    You CAN learn to trade crypto for profits.
    1. Start by learning the basics.

    Before you start trading, it’s important to have a solid understanding of how the price discovery market works. This includes learning about the different types of cryptocurrencies, how they are created and traded, and the factors that can influence their value. Get prepared to track all your trades so you can improve your skills and report your taxes correctly. You can learn how to trade through online courses, books, quality bitcoin trading tutorials on youtube as a way to complement your own research with resources like CoinMarketCap.com

    1. Choose the right exchange.

    There are many different exchanges where you can buy and sell cryptocurrencies. It’s important to choose one that is reputable and secure. Look for an exchange that is regulated in your country and has a good track record of protecting its users’ assets. You should also consider the fees associated with different exchanges and choose one that offers competitive pricing. Consider the following proven crypto exchanges BitGet and SimpleFX as you compare against Binance and Bitfinex.

    1. Find a proven crypto trading strategy.

    Once you have a basic understanding of the market and have chosen an exchange, it’s time to start working with someone who has developed a proven long-term crypto trading strategy. Look for a clear written strategy on PDF and video tutorials provided as well. They should help you in setting clear goals, determining specific rules for anticipating risks, and also provide a clear methodology for when to choose the right assets to trade. It’s also a good idea to work with a service that also provides an active community that keeps up with market news and analysis – this will help you to stay informed about what’s happening in the world of cryptocurrency. Remember, if they have a proven strategy – the coach you want to follow has already been doing this for years… they trade full time and youtube views are not a source of income for them.

    1. Practice with a demo account.

    Many exchanges offer demo accounts that allow you to start teaching yourself how to trade cryptocurrency with virtual money without risking any of your own capital. This is a great way to practice and get a feel for how their trading platform works for setting up trades and stops… without risking any of your own money. You can create a simple spreadsheet on google sheets but it is better to actually use a demo account to practice your trading strategies on many markets in order to build the chart pattern recognition and daily habits of a successful trader BEFORE you are risking real money.

    teaching yourself how to trade cryptocurrency involves more than just technical analysis.

    Five important principles for risk control and keeping profits:

    • Diversify your portfolio.

    One of the keys to successful crypto trading is to diversify your portfolio. Don’t put all of your eggs in one basket by investing heavily in just one or two cryptocurrencies. Instead, plan a strategy for spreading your investments out over a variety of different coins when altcoin season is about to begin.

    • Plan your position size first.

    The best way to keep your losses small is to start with a small trade size. Wait until your trade is well in profit before you establish your full position and you will dramatically shift the odds into your favor in the long term.

    • Use stop-loss orders.

    Stop-loss orders are an essential tool for managing risk in crypto trading. Just like the breaks in a car, we need to know how to use them BEFORE we start driving. The stop loss order is based on technical price levels which may have an effect on the position size that fits your account equity levels for every specific trade. Thus it is important to plan our stop order in advance if we are to set a maximum loss that is not painful for equity size. If the price of the asset falls below the stop-loss level, the trade will be automatically closed to limit your losses.

    • Know your take profits signal in advance.

    While it can be tempting to hold onto a winning position in the hopes that it will continue to rise in value, it’s important to remember that the crypto market is volatile and can turn on a dime. Even before you’ve made a profit, plan out exactly the conditions for taking profit and closing the trade. Our job as traders is to manage risk and to be prepared for the market to take a turn for the worse – while at the same time surrendering the results of our trade to the market.

    • Stay up-to-date on market news and analysis.

    Crypto markets and profit opportunities can be influenced by a wide range of factors, including government regulations, hacking, and the overall state of the global economy. To protect our trades from the unexpected it’s important to keep up our risk control rules in play for every trade. To take advantage and press our correct positions, we can increase our profits with current market news and analysis. This can help you make informed decisions about when to add on to correct positions and when to take profits.


    In conclusion, remember that 80% of new traders lose money and quit trading so teaching yourself how to trade cryptocurrency requires a combination of research, practice and persistence. Just as learning any complicated skill, you should seek out an experienced coach with a proven trading approach. Start by modeling their approach.

    Practice, take notes, track your trades and journal your thinking on every trade – and soon you’ll pinpoint your own trading mistakes and gain more trading mastery.

    Track your crypto trades for long term success and profits.
    http://cointracking.co
  • THE Practical Guide To Cryptocurrency Trading

    THE Practical Guide To Cryptocurrency Trading

    What you might expect from a video guild Guide To Cryptocurrency Trading, is advice that you should check the fibonacci levels, you should study Elliott Wave principles, you should learn to read candlesticks, look for ascending wedge triangles, bull flags, pennants, and the list goes on…


    I find many of those trading guides helpful, but they don’t often provide a complete and practical system that follows a trading situation from start to finish – PLUS those extra details you need to become a consistently profitable trader in the long term.

    What follows in this video series

    This Crypto Trading Guide video series is divided into sections.

    1. Before we get into technical analysis and the details of trading this plan, the first set of videos uncover our relationship with money and how to use the laws of money to set the stage for trading success.
    2. The second series of videos include our trading plan, the entries and the exits.
      In addition to The Five Stages of a Trade.
    3. The final set of videos include case studies for tackling specific trading difficulties.

    Would you agree that every crypto trader uses technical analysis to help them make money?

    If that is the case it stands to reason that technical analysis is a skill where we should develop PILOT LEVEL expertise, isn’t that right?

    I wouldn’t recommend learning to be a pilot though a video series, but I CAN show you a complete and practical approach to trading bitcoin, cryptocurrencies and any other market!

    Hi, my name is Doug, and along with the team at DigitalCurrencyTraders.com, I am happy to present our latest video guides for cryptocurrency enthusiasts:

    This tutorial series is intended to provide the entire trading plan and make it easy and accessible for the complete beginner.


    We also provide premium education, courses, trading alerts and private community.

    If you are saving and investing in crypto already, you are at the front of the line for achieving financial success

    Remember: in life you can earn a little, or you can earn a lot, it is largely up to you.

    No one is smarter than you and no one is better than you. If someone is doing better than you with money, it’s because they know something – that you can learn, model, drill for skill.

    Your past performance is no indicator of future potential. You owe it to yourself to learn how to be one of the highest earning, most successful people trading these markets.

    ———-

    My Short Story

    Some of you are new to DigitalCurrencyTraders.com and this is the first time you’ve come to know about us, but you may know that I took my first course on Commodities Futures Trading back in March of 1995.

    And I started YouTube videos and workshops October of 2009 – as I practiced trading the 1-2-3 pattern on the price of items bought and sold within the online multiplayer game of Runescape!

    It wasn’t until 2015 that I ‘discovered’ bitcoin. I started the bitcoin trading video journal and blogged about my progress and difficulties as I traded cryptos for profit.

    Over the years, I’ve created well over 1000 trading journal videos! I was completely determined to document my plans and then look back and learn from my mistakes.

    My Guide To Cryptocurrency Trading

    As a result of sharing my video journal online, I’ve had the honor of answering thousands of questions which helped me to clarify every stage of my trading plan.

    I am very humbled by the fact that 1000’s of students from over 70 different countries around the world have registered for my courses! That is just amazing to me and I could not be more grateful for having all of you aboard!

    ——-

    Originally created as a written trading plan for my own use, what follows is a formula of how I actually changed the way I was thinking and feeling about money and then how I earned micro-bits of digital currencies and invested them for fantastic profit.

    The lessons are presented in the order that I would have my younger self learn – rather than the hit-and-miss journey of trial and error that I actually took over the decades.

    The tutorial series is not intended to cover all areas of education about cryptocurrencies, nor is it a complete manual for trading and investing. I am not a financial advisor. The purpose of this video series is to share my written trading plan in a tutorial format that may help shorten your journey to financial success and financial freedom!

    —-

    I believe all trading skills, indeed, all skills with money are learnable.

    Once you learn a specific trading strategy, I recommend that you use it over and over again to ‘drill for skill’. Bring up historical charts and do back testing. And each time you study, repeat and practice, you get better at waiting for the high probability setups, and you begin to consistently achieve results at just the right time.

    I’ve never been more excited about the potential for new cryptocurrency investors!

    My angle with bitcoin and crypto is not so much in the amazing technology and how that may disrupt business in every sector, I’m sure it will – but I am much more excited about how these new easy-to-access micro-investing opportunities in cryptocurrency can help anyone start from nothing, earn money and grow it.

    We now have access to more powerful financial tools than any generation in history.

    I hope this video series leaves you with the sense
    that YOU CAN DO THIS!

    You CAN follow these simple rules. You CAN experience more consistent profits and success – as I have… even if you have failed in the past.

    Thank you for joining me on this journey. We have more than 50 videos in the planning, and your questions have already grown our list!

    Please leave your requests in the comments below any of the videos in this series!

    Let’s get started with the essentials you need to know to build serious wealth in micro-steps.

    You’ll learn new ideas that may change your actions which can lead to dramatically different results, as you will discover!

    Trade safe, and keep those losses small.

    Doug