Hi everyone! In this video, I will tell you about the secrets of cryptocurrency trading. Some of them are simple and perhaps already known to many, while other secrets are not obvious. However, I only got to them after a few years of experience trading and investing in digital money. Go!
How to be successful in crypto trading?
Secret 1 – Use a PC with a large monitor or laptop for trading. I understand that many of us are already accustomed to smartphones and it seems that it is convenient to trade with them. But this is actually not the case! You can trade quickly and efficiently only from a large monitor screen and a powerful computer.
Successful traders always use professional tools, so don’t skimp on your computer and software. Secret 2 – use professional and paid software. Useful applications and sites such as TradingView, Atas, 3commas will make your trading more profitable and efficient. And crypto bots will help you save time!
How do the best traders trade?
Secret 3 – trade 1D timeframe. Trading on minute and hourly charts is difficult, and there are many false setups and support/resistance lines. Secret 4 – Trade 1-3 or a maximum of 5 crypto pairs. At the same time, 5 coins can be traded if you use bots. It is better to trade 1-3 coins manually and open no more than 1 deal per day.
Secret 5 – Take a break and take a break from trading. Crypto trading, unlike the stock and forex market, gives us a unique opportunity to trade 24 hours a day, every day, including Saturday and Sunday. However, this has a detrimental effect on the health and emotional state of the trader. Therefore, it is important to take a break from time to time and do brain detoxification.
Rules of successful crypto traders
Secret 6 – Exercise. It can be like weightlifting and a gym, as well as jogging, swimming, brisk walking, yoga, and even meditation. Sport is important to maintain the health and psyche of a trader. Secret 7 – have income outside of trading. You should have a backup option for earning, regardless of your success in cryptocurrency trading.
What happens if you made an unsuccessful investment and went into a prolonged drawdown with a deposit, or you were knocked out several times by Stop Loss and the month turned out to be unprofitable? That’s right, you won’t have any earnings for this month, and you really don’t want to make money out of the reduced deposit. Therefore, it is important to have some other income, for example, working in an office or renting an apartment.
The video about the 7 secrets of trading in cryptocurrencies is completed. I told about the fact that it is important for a trader to have a powerful computer for trading and professional paid software – TradingView, Atas, 3commas. I have emphasized the importance of trading on the daily timeframe and that a maximum of 5 tokens should be traded. He talked about recreation, sports, and an additional source of income for a trader. That’s all until new videos on botcryptotrade.com