Crypto trading is very very volatile as compared to other stock market options and is the biggest reason why most of the people don’t want to trade cryptos. Beside all these things there are crypto lovers (including me) that love trading in crypto markets. It’s been a year that I have been in crypto trading and still learning every day. Initially when I started it felt too risky to make even a single trade but with time it is getting improved. In this time I have learned a few things that a trader should always focus on before making a trade. 

Find at least 3 reasons to Trade 

While analysing a chart, one may encounter a very strong point to make a trade (Buy/Sell) but he/she should never avoid the other areas where it might not validate our trade. If you want to be successful trader then it is very important for you to be disciplined about your trades. One should only make a trade if he is able to predict its outcome with at least three criteria going in the same direction. e.g If MACD, RSI and a chart pattern forming leading it in a unified direction, then make a trade if not then find other things to verify if you are going in a right direction. 

Emotionless 

This is a very basic thing based on human psychology that needs to be understood before going forward. If you want to become a successful trader then don’t miss out learning about the human psychology first. It will be the only thing that will help you to create your own path without following the public. Following the good is the most common psychology that a person have and unfortunately it doesn’t work in trading. You have to make your decision based on the decisions of the public and where they will be headed. 

Ruthless Whales 

In crypto market one must need to understand that it is a game of whales. If you are following a whale’s path that he/she has created for you then you are definitely going to lose but if you follow the path where the whale is actually headed then you are going to make loads of profit. All whales are ruthless, they doesn’t care about anybody going bankrupt and their only motive is to control the market in their own way and make huge profits. You must have seen crypto charts going all the way high and then coming down in an instant.  

High going Higher and Low going Lower 

Most of the people think that if a coin is going high and a small loss happens at the peak then they should sell all of their coin but this is not the case in real world. Trader must need to understand that a coin can go much much higher than they would expect it to go. Same is the case with a coin going lower and rise a bit at a point then it may not be the indication that the downtrend has ended and it is time to buy and instead they should step back and do some analysis and discovery to find the best time to buy or is it worth buying at all?  

In the 2nd part I will be talking talking more about the market like when to invest, when to step back and more. Stay Tuned! 

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