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?

Paper trading (the dry-run)

And now, after forward testing, the next step I recommend is paper trading. 3Commas allows you to trade with paper money, thus protecting your capital until you see it rise due to your own abilities.

Always paper-trade new strategies until you are profitable for at least one month (though other traders would say one to three months).

You might ask yourself why do a forward test and then a paper trade; shouldn’t you just paper trade after the backtest?

My answer to you is that forward testing is not used to calculate the R, the profitability of the strategy, but to tune it some more against a real-life scenario.

After that, paper trading is where you actually put your strategy into practice, and this is the place where you’ll get as close to the real R as possible.