Book Image

Zero to Hero in Cryptocurrency Trading

By : Bogdan Vaida
Book Image

Zero to Hero in Cryptocurrency Trading

By: Bogdan Vaida

Overview of this book

In today's fast-paced digital age, cryptocurrencies have emerged as a revolutionary financial asset class, capturing the attention of investors and traders worldwide. However, navigating the world of cryptocurrency trading can be overwhelming for beginners. Zero to Hero in Cryptocurrency Trading acts as a guiding light to navigate this complex realm. This comprehensive guide to cryptocurrency trading empowers you to go from a novice trader to a proficient investor by helping you implement your own trading strategy. As you progress, you’ll gain structured trading knowledge through hands-on examples and real-time scenarios, bolstered by trading psychology and money management techniques. You’ll be able to automate your manual trades with an algorithm that works even while you sleep. You’ll also benefit from interactive teaching methods, including screenshots, charts, and drawings to help decode market operations and craft your unique edge in the dynamic crypto world. As an added bonus, you’ll receive ready-to-use templates to identify useful indicators, test your strategy, and even maintain a trading journal. By the end of this book, you’ll be well-equipped to trade cryptocurrencies and automate manual trading to give you an edge in the markets.
Table of Contents (13 chapters)
9
Chapter 9: What’s Next?

Dollars or Bitcoin?

An interesting thing that happens during the bull market is that you’ll see a lot of videos of people making money in trading. They will show you their accounts and you will literally see how the money grows. This phenomenon rarely happens during the bear market.

Figure 6.5 – Dollar or Bitcoin?

Figure 6.5 – Dollar or Bitcoin?

That is because in the bull market, if you keep your winnings in BTC and if BTC grows by 13%, let’s say monthly, and your trading system’s monthly profit is -2%, your total account growth in dollars is 11%. You can show your account balance, and everybody will see how good you are as a trader.

Still, if you check your balance in BTC, you’re actually losing 2% each month. Hmm...

In the bear market, if you keep your money in BTC and BTC decreases by 5% and your trading system is 1% profitable, your total account growth in dollars is -4%, and in BTC, it’s 1%. Hmm again.

So, you can see how people...