How to become profitable in trading as a beginner!
Most of the beginners in trading often fall into traps and loose their capital.They just don’t know how to become profitable doing trading,they often buy at high and sell at low and enter a trade without knowing the outcome of it.You should follow the following rules to become a profitable trader:-
—Research About Market :- Market research is fundamental rule of investing in a crypto.You should research about the market whether market is moving up or down and be aware about the global economic and political news as they impact all markets including crypto and forex.Growing tensions like wars impact crypto market significantly.
—Technical Analysis:- This is the basic principle of trading.You should analyse market activities and the coin in which you’re investing.Never jump in market in a hurry.Always take time to analyse the market and establish a good trading strategy which you can follow in order to be profitable dont rely on anyone as no one will help you in this market.Draw support and resistance levels,market trend and enter when price comes to the marked level.
I only saw one video in youtube which helped me make perfect analysis in daily market.IT name was “the only technical analysis video you will ever need” and it was worth it ,you can also watch it might help you.
—Risk management:- You should always calculate the risk you’re taking before doing a trade.Enter with minimum risk in your trade.You don’t need to risk all your capital for few dollars profit as it will only leave your account empty even if you become profitable in few trades but it will not prevent the outcome.Always leave a few amount of capital for future.You can take a risk in trading but you should be prepared for the outcomes.
—Patience:- Is the most important part doing trading.You should be patient doing a trade.Spent atleast an hour before taking a trade
and make perfect market analysis.Dont sell in loss after a small pullback.Dont trust shorter time frames,they are often deceptive.
