Lesson 1

How to start trading.


Seen the potential of trading? Well nobody can blame you the world runs on trading but you don’t have to be a Wall Street genius to become a trader. The only think you need is a laptop and some money to get you started. 

What is trading? 

In the world of trading there are a lot of different things you can trade. If you want you can trade stocks or even penny stocks (stocks that are under 5 dollar). But here we are mostly going to talk about trading crypto coins but the methodes also work for stocks.

 

What am I going to trade?

Now one question remains how am I going to trade? There are a lot of different ways you can trade cryptos. You can bet a coin is going to go up and down this is how most trading apps work. You are going to have to find out how much patient you have got, this is a very important part because this will filter out a lot of options which are crucial for your trading career. 


How am I going to trade?

Now one question remains how am I going to trade? There are a lot of different ways you can trade cryptos. You can bet a coin is going to go up and down this is how most trading apps work. You are going to have to find out how much patient you have got, this is a very important part because this will filter out a lot of options which are crucial for your trading career. 

 

In case you are looking to trade short term mostly one or two days per trade or even les you have a couple of options: 

·      Day trading:

Most traders are day traders. When you place your trades during the day and sell them before the ending of the day. This way you have the smallest risk of losing money. 

 

·     Scalp Trading:

When you are scalp trading you are keeping your positions for only a couple of minutes and are not looking for big gains. This way is riskier than day trading because one bad trade could set you back by a long shot.

If short term isn’t meant for you can still consider to start trading long term. There are also multiple options to trade long term:

·     Position trading:

This means you take long term very serious because most trades you make you hold for weeks sometimes even months. You will only go for big pay offs because otherwise it just isn’t worth it.  

 

·     Swing trading:

Swing trading is a less extreme version of long term trading than Position trading. Swing traders usually place their position for a couple of days and are looking for a medium size profit. Swing trading is one of the most popular if not the most popular way of trading there is.


Do you have what it takes to be a trader? 

 

Little sleep hard work and a lot of stress the life of a trader is definitely not mend for

everyone. You are going to have to be able to give up a lot of your time and being able to miss a lot of good things in life. Most people underestimate the amount of work that goes into trading. Trading takes time and nobody becomes as successful trader overnight you are going to have to develop your own style.