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?

Trading system essentials

In the previous chapter, we discussed holding your assets in dollars versus holding them in Bitcoin and I explained how even if a strategy loses a total of 1% per month, if BTC is rising by 4% in 1 month, you’ll have made a 3% profit in dollars for that month.

You need to be very careful when checking for strategy performance, as anyone showing you a strategy can show it against Bitcoin or against the dollar (based on which looks more profitable). They may also demonstrate a tiny, statistically insignificant sample (such as a live trade of 15 minutes) or showcase a strategy that was effective in a bear market during recording but may not work in the current bull market, among other situations.

Thus, in order to protect your money and invest successfully, I’d recommend you find your own edge in trading. This doesn’t mean you need to develop a strategy from scratch, but it does mean that you need to intimately know each strategy that...