How to Consistently Make Decent Profit Through Crypto

Most people are still unaware about investing or trading in stock market and cryptocurrencies.

Gradually, the inflation rates are increasing, and individuals are seeking new ways to make extra money.

Be it for fulfilling your basic necessities or simply, creating an extra income for yourself, learning investing and trading is always a good idea.

What is Investing or Trading?

To put into simple terms, investing means saving your money on assets that can give you decent returns in the future, it can be anything from physical property to stocks to bonds.

Trading is a part of investing, the only difference being the risk quotient.

Investing and trading are two sides of a coin. Investing in any asset for the long-term view of any individual.

While trading is lucrative to make money on a regular basis; it sounds simple but difficult to maintain consistency.

Investing is simple compared to trading in stocks or cryptocurrencies. All you have to do is choose a beneficial asset and stick to it for long-term i.e.,5-10 years.

Trading is a different ballgame, you need to be aware of trading terms, possess basic knowledge of price charts and technical indicators, and stay updated about the trends in market.

A pro tip would be to also learn to have control over your emotions.

Trading is buying and selling games no more than that. It looks easy, therefore, beginner jump into trading and lose their initial capital.

First, people need to understand trading is not simple as it looks or popularised. That said, learning this vital skill can earn you unbelievable profits.

Trading Responsibilities 

In comparison to other financial market, crypto market is too volatile. Individuals gain and lose money in matter of seconds.

Hence, it is advised to don't trade for silly reasons such as FOMO. Again, trading is an amazing skill if you can learn it.

People use this skill as a money-making skill. However, trading requires a retraction before you make huge profits.

A foremost rule before entering trading is that if you cannot control your emotions, don't jump into trade.

It may drain your wallet in the course of seconds. 

Don't jump into a trade until you are 100% sure before taking any position.

It might damage your initial capital, or if you are lucky, then the rewards could be unexpected.

How to Learn Trading Without Burning Enormous Money?

First, you need to open an account where you can easily trade or invest.

But wait! Wait! Wait! Don't think that investing or trading platforms are different, you can do it in a single platform.

Initially, start your trading career with small funds, where you don't be sad to lose.

First, learn about the basics of Technical Analysis (TA) and Fundamental Analysis.

Use only 30% of your capital while Trading.

Don't execute more than three trades in a day, I will prefer to do only two trades. If both of them go in your favor, then make sure to save your profit in the last one.

In a trading perspective, your first priority should be Technical Analysis, it really helps a lot to find trends quickly and simply.

On the flip side, if you are afraid to see loss, you should leave Trading for a while until you become friendly with the red colour (loss); But how?

Here's How the Paper Trading Plays a Key Role:

Many users use Paper Trading before using real money. Paper Trade is an amazing way to learn how speculators work, and you can also observe their behaviour amid intraday trading sessions.

But what is paper Trading?

Paper trade is similar to real Trading but in this trading simulator, you can practice your Trading or investing skills without any financial risks.

There is no change in Real Trading except for virtual currency in paper trading.

Benefits of Trading in Daily Occurrence

  • Get to know about Global Cryptocurrency Market.
  • Get engrossed in Money Management.
  • Additional income source.
  • Develop another amazing skill.
  • Can control your emotions.

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This information is for educational purposes only and does not constitute investment advice. No person should rely on it to make any investment. Investing carries risks, including the loss of capital. All opinions expressed are subject to change without notice. Past performance is not indicative of future results. Always seek the advice of a licensed investment professional before making any investment.