Can you learn cryptocurrency trading on your own?

[Shaf]

As one of the ways to make money in cryptocurrency, trading coins and tokens can either be self taught, or you learn from someone.

Some people argue that it is possible to learn trading on your own and that this strategy is the best, while some place huge importance on having a mentor or taking a course to fast track the process.

One disadvantage I've associated with learning anything online on your own is that it's slow and can be ridiculously ineffective as you don't even have an idea of what works and are just participating in blind trial and error.

On the other hand, a lot of people who offer courses or mentorship know no better and will teach you the same things you can learn for free. This brings us to a dilemma when you intend to start learning.

In your own experience, do you think it's possible and worth it to learn cryptocurrency trading on your own?

 

[Setho]

The cryptocurrency industry in general is not something that you can be able to easily navigate because there are so many things that you have to learn and as such and rolling for a mentorship program for having a one-on-one session is usually the advisable thing to do.

Technology has now made it much easier for people in such a way that you do not need all that as you can be able to learn whatever time you want with free resources that has been provided on the internet .

If you want to learn about cryptocurrency on your own then I advise that the first thing that you should learn is why cryptocurrency even exist in the first place, the various types of cryptocurrencies that we are having and the solution that they tried to bring, cryptocurrency exchanges and the differences between cold and hot wallet .

You shouldn't be able to learn how you can be able to make money from the cryptocurrency space . This way you are going to learn about technical and fundamental analysis as well as trading cycles .

You will then be able to learn about the decentralized finance and other ways of making money like nfts and play to earn games .

 

[sincerem]

Yes of course, their is nothing impossible on your own, it depends on your determination to succeed in the digital space. Even if you didn't learn as an expert on your own, you can still turn an expert as you're trading continuously with proper risk management. Their are plenty of platforms to learn for free on your own since you don't have the capital to attract an expert trader to guide you through learning of cryptocurrency. I am still learning on my own, yet to pry for any class since I started being around crypto for some time now. Not that, I wouldn't seek professional learning, but I am trying to gain better background knowledge of how crypto trading works then before going on to contact an expert to take me on a professional course the cryptocurrency trading I'm talking about isn't about buying and selling of the coins, rather, buying and selling coins through Spot trading, Futures contract trading. And knowing fully we how to analyse the crypto market on my own to determine the crypto that got potential to skyrocket and bring massive profit within specific duration of time. Reading it's long term and short term movement is an option to consider immensely too.

 

[Shaf]

Yes of course, their is nothing impossible on your own, it depends on your determination to succeed in the digital space. Even if you didn't learn as an expert on your own, you can still turn an expert as you're trading continuously with proper risk management. Their are plenty of platforms to learn for free on your own since you don't have the capital to attract an expert trader to guide you through learning of cryptocurrency. I am still learning on my own, yet to pry for any class since I started being around crypto for some time now. Not that, I wouldn't seek professional learning, but I am trying to gain better background knowledge of how crypto trading works then before going on to contact an expert to take me on a professional course the cryptocurrency trading I'm talking about isn't about buying and selling of the coins, rather, buying and selling coins through Spot trading, Futures contract trading. And knowing fully we how to analyse the crypto market on my own to determine the crypto that got potential to skyrocket and bring massive profit within specific duration of time. Reading it's long term and short term movement is an option to consider immensely too.

You are absolutely right about applying proper rail management as a way to learn cryptocurrency trading for free without blowing your account.

I've always heard of this term especially by Emperorbtc whose resources I use to learn but never too it seriously till I lost two tires of my portfolio by not cutting my losses at the appropriate time.

When someone understands the basics, it's much easier to dice into the more complicated ones like spit and futures trading without loss. Some people, like Emperorbtc that I follow claim to have done it all without mentorship, but they confess that they have blown their accounts several times especially in futures trading.

I would like to learn that though as it gives you an opportunity to make money trading no matter the direction in which the market is moving, while in spot trading, you can only buy low and sell high to make profits.

 

[sincerem]

You are absolutely right about applying proper rail management as a way to learn cryptocurrency trading for free without blowing your account.

I've always heard of this term especially by Emperorbtc whose resources I use to learn but never too it seriously till I lost two tires of my portfolio by not cutting my losses at the appropriate time.

When someone understands the basics, it's much easier to dice into the more complicated ones like spit and futures trading without loss. Some people, like Emperorbtc that I follow claim to have done it all without mentorship, but they confess that they have blown their accounts several times especially in futures trading.

I would like to learn that though as it gives you an opportunity to make money trading no matter the direction in which the market is moving, while in spot trading, you can only buy low and sell high to make profits.

In Spot trading, you can still make profit even when the market is heading bearish. The essence of the sell order' is to channel the coin to drop order. Meaning, if the coin is losing value, you'll be on the profit side. But the most common option have always been the 'buy option. Because of how the market moves up more frequent than the way it takes down. I trade only on Futures when I have some funds to risk, and when I've analysed the coin critically, I don't trade often only when I deem right. At times I be on the profit side, and too, be on the losing side. But I always make sure I am not losing too much. It will be devastating to be on the market loss all the time, that's why I do apply risk management, and not being too quick on making profit, when I know it is risky.