Why trade digital currency – Crypto.
What is Crypto? Digital Currency, BTC – Bitcoin, Bitcoin Ca$h, Ethereum. Tokens, Tether, Sushi, Ripple, Defi, Blockchain ??
Let’s discuss what this crypto is about and how you can make a good living trading this Digital currency online. Why you want to trade this new crypto coin. What will it do for you? How can I use it to create wealth? Why do I want to own crypto? Should I invest in this cryptocurrency?
So many questions, hundreds of options, too many choices. Let’s break it all down and discuss what, why and how to create the wealthy lifestyle you truly desire using this new digital asset.
Most people know what digital currency is these days, whether you call it crypto Bitcoin tokens or whatever name you want to call your coin. Blockchain is a word also used in this crypto space but I am not going to talk about that stuff here. What I am going to talk about is trading. What is Crypto trading – exchanging one cryptocurrency for another, exchanging fiat money into crypto and buying and selling coins.
Trading in some form has been around as long as man, food, weapons and just about anything you can think of man has traded at some point in time but these days you can trade a digital coin on your phone at home and make a good living from it. There are hundreds of ways to engage when it comes to trading crypto. Long, short, options, CFD’s what time frame, do I trade spot? what is margin? What? Trading that is the What as long as you are trading crypto that is What matters.
You don’t need to know All the why’s to be a successful crypto trader but you do need to be in the game.
Why trade crypto, well for me it is a way to achieve real wealth and live the lifestyle I have always wanted. But everyone has their own Why. What is your why? How good is it that you can trade crypto 24/7 that gives you the freedom to trade on your terms when you want and depending on your strategy how long you want to spend doing it? You can also trade it from your phone anywhere you can get reception. Your office can be where ever you want. Freedom -That is WHY.
Crypto gives you the choices to make your own Why and it doesn’t matter if you like it or not digital currencies are the way our future is headed. You can choose your why and make it work for you or get left behind and ignore blockchain, it’s your choice but I choose to use it to my advantage and that is My WHY. Lots of choices – That is WHY.
How to Trade Digital Currency or Crypto
Trading crypto is like trading anything else, find your edge with a strategy, step up when you see it in the market and take the profit when it’s there. Sounds easy right – well that parts is, it does not have to be complicated. The hard part is the discipline of the psychology of trading and managing your money. There are a million strategies out there that work that have an edge, trading is a game of probabilities, find the edge and exploit it, easy right. Putting it all together is where most people fall down and fail. You can have the best strategy but if you haven’t got the right mindset and don’t know how to manage your money you are guaranteed to fail as a trader.
I will discuss the other elements required to be a successful crypto trader but not here now. Things like exchanges, digital wallets, blockchain. ICO’s, staking, mining and other ways to invest in this digital currency. These are all things you need to become familiar with but are topics for another time.
Putting it All Together
Trading crypto and taking money from the market when it is available is only a small part of it for me. They are just the instruments and tools that I can use to create the wealthy lifestyle I desire. Being rich to me is much more than just having money. I know a lot of rich people that are miserable and I have seen poor people full of happiness, gratitude and joy. There are a lot more elements involved to reach true wealth. Likewise, no good having all the cash if you haven’t got the heath to use and enjoy it. You need to be wealthy in the mind, body, and soul. To me, that is true wealth.
To put it all together you need to have a good look at yourself and possibly educate yourself in some areas that need some work. Then you need to work out what you really want, do you just want to make a little and supplement your income from your job or do you want to make a lot and trade full time. How much time do you want to spend trading? What do you want your life to look like? You need to get your life in order and come up with a good plan if you want to be a successful trader.
You need to learn to eliminate trades and take what is left. Plan your trade and trade your plan. Trade what you see not what you think. You MUST have a rigid trading plan, If you haven’t got a plan you are planning to fail. You need to have the mind-body and soul in order to be in this game of probabilities.
Trading Digital Currency – It is for YOU
So you thought you could just buy a bit of Bitcoin with your credit card online and start trading or buy some coin and HODL. Well, you can if you want to gamble with your money. If you want long term success in the crypto space you will need to make some serious decisions, work out what you really want and get all aspects in your life in order that is what it takes to be successful. If you haven’t got it ALL in order or if you Stop working on it you are guaranteed to fail.
Trading can be simple, putting it all together and getting it right can be hard if you have to work it all out yourself. Over the coming weeks, I will discuss all these aspects in details so you can become a successful full-time crypto trader and fast track your journey.
Remember Be the BEST you can BE.