What Beginners Should Know About #Crypto (3)
What does patience mean in #trading?
To trade cryptocurrencies, people often learn technical analysis.
They may use indicator-based trading or simply trade based on chart patterns.
At first, with no one to teach them, beginners often turn to YouTube to watch videos of successful traders and think, "Ah, so this is how it's done!" Others might learn by reading books.
However, when they start trading, most people end up facing losses.
The reason is that they havenât yet experienced or fully understood the entire trading process.
What I'm saying now applies to those who can somewhat read charts but still struggle with trading.
Most traders spend a long time waiting for the perfect setup they want. When that moment is close, they create videos or start live streams.
However, most people donât know about this waiting process.
The more skilled a trader is, the better they are at waiting. After analyzing the charts, they wait until the price reaches the desired level, and only then do they enter a position.
This approach minimizes losses, even when using stop-losses, and maximizes profits.
There are more detailed strategies, but I think the points mentioned above are enough to understand the concept.
If youâre interested, feel free to follow me!
