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?

Live action

After you get confident in your strategy, this is the time for live action. Now you’re putting real money at stake.

Figure 7.8 – You, after a year of successful trades

Figure 7.8 – You, after a year of successful trades

Besides the lessons already learned about risk management, there is another safety tip I can give you. You can start by putting a smaller amount, let’s say $15, when you enter the trade and continuously increase that sum up until your fixed risk percentage (1.5%-2% of your capital).

Live action will bring up emotions that you didn’t have during testing. Emotions of thrill and euphoria, panic, and addiction. You need to manage them while also staying on course and following your trading plan.

First, I recommend you go through all of these steps as I’ve shown them to you. Always backtest for at least 100 trades in each market, always forward-test for 100 trades, and then paper-trade for at least a month. After you develop three strategies...