Trading Bitcoin is changing livest could change yours too.

Tip 1: Learn how to trade.

First off, trading is technical and you will need to learn to read a chart if you ever want to become profitable. I personally learned how to trade via an online course hosted at Skill Incubator which I recommend immensely.

The course is mentored by Crypto Hustle aka Rocky, recently voted one of the most influential crypto traders in the sphere and a self-made trader and entrepreneur. Taking this course was probably one of the best decision I’ve made in my life (I am not kidding) and has helped me develop into a skilled and independent trader able to make his own trading decision and to make his own money. There is no better feeling than learning a trade which you can directly put into practice, it’s intoxicating and, once you start earning money, it will make you feel like a rock-star.

Tip 2: Keep your job.

Trading is not only a technical but also a very emotional affair. Trading is a psychological battle against the market and there is nothing worse for a trader than to be scared of losing money.

As you can probably guess, your fear of losing money is correlated to how much you need that money for everything else in your life. Simply put, don’t go trade with the rent/groceries money. This brings me to the tip itself: keep your job so you don’t rely entirely on trading as a source of income. Also, on the same note

• the market can turn bearish at any point and when it does, then you can kiss easy crypo gains goodbye. Having a job will give you something to fall back onto when the crypto winter finally comes;

• trading with money you’re afraid to lose will put you at a massive disadvantage against dispassionate traders. Scared money makes mistakes, buy tops, sells bottoms and eventually gets wiped out by the emotionless forces in the market;

Finally, full-time trading is a very lonely and unhealthy affair. Staring at computer screens all day is stressful, bad for your eyes and downright boring so having a job will keep you healthy, social and sane.

Tip 3: Start small.

Survivor bias might give you the impression that everyone in crypto is a success story and a millionaire. Yes some people have made fantastic amounts of money in a very short period of time but how many have failed. Well… a lot. People get wiped out on daily basis in these markets and you probably do not want to be one of them. That’s why you need to start by practicing with small amounts of money before you crank a gear up and go for more substantial trades. Personally it took me about 6 months to go from $150 positions to over $1000 trades. Putting more money into a trade also put more mental pressure on you and you likely to panic sell and lose money if you haven’t yet developed the mindset of a trader which can only be acquired through practice.

Tip 4: Take security seriously.

Crypto is a dangerous place for your money to be. Scams, hackers and even unfortunate bloopers might cause you to lose all your money. So before you start buying crypto, make sure to get a hardware wallet (Trezor or LEDGER) to store your coins.

Leaving your coins on exchanges isn't safe (because exchanges get hacked all the time) and any wallet which sits on your hard-drive or your phone is susceptible to get hacked as well. So, for the love of God, get a hardware wallet.

Well, that’s it for today guys. If you have any questions about the crypto lifestyle please leave them in the comments below and feel free to share your own personal crypto story and to upvote and re-steem if you liked this post.

Cheers,