I will teach you the very basics of cryptocurrency ,market. Before understand this blog you need to read my first blog about the crypto-currnecy. The story begins with the, Jamaica Accords turned money into figures. It was decided to demonetize gold and gold turned into an ordinary exchange commodity. It is interesting to note that the crisis and revolution in trading were organized by the world’s largest bank. They were trying to deceive each other. This things opens the ways of cryptocurrency in the world.
Now for your understanding of cryptocurrency, you do need to stuff your heads with such definitions as “Pattern”, “Analysis”, “Technical modeling” etc. Yes, no doubt on a large scale or bigger game you need to analyze and study everything. But I want to cheer you up: being on close terms with all the above-mentioned concepts is a myth.
In order to be successful in trading you need to master the basic concept of trading and the principles at work on exchanges. You only have to understand the main mechanics of the market.
- Who sells and how
- Who buys and how
But you do not have to reinvent the wheel. Everything needed is already known.
Therefore, embarking upon the “Profession” of a trader requires mastering the basic principles of the market, and finding out how to analyze. For example, assess the current situation and as a result, you make a trade decision.
90,90,90 Rule
Here, I will tell you the most unspoken rule in the market: 90,90,90. This means that 90 percent of traders lose 90 percent of their capital in the first 90 days of work. And the interesting thing is here all these lost funds do not dissolve. They stay in the market. My intention in telling you about this rule is not to demotivate or fear you, but I give you a lesson in trading to be consistent in trading, analyzing, and forecasting the situation.
Types of traders:
I categorized traders into two types 1. Professional traders 2. Retail traders. -
.Professional traders:
Professional traders undergo special training and certification. They are among those people who work in huge investment companies and speculate on the market with “tidy” sums of money. -
Retail traders:
Retail traders do this without having a special certification or license. They carry out trading operations in the market without any certification and work for themselves. They manage much smaller sums of the market. Yes without certification they will be successful if they continue their learning in the market.
Lesson:
My Buddy! If you want to be successful in this market note down my lesson. You have to remain consistent and constantly upgrade yourself, keep abreast of new methods, follow experienced traders, and read the market news. And all these risky operations have to be repeated again and again.
In the next blog, I will share with you the psychology of the market and the role of your emotions in winning or losing. For more updates and learning about cryptocurrency follow us on Pagecabinet.com.
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