Many people try crypto trading but only a handful of them are successful. In my opinion, the main reason is lack of knowledge and experience.
What I mean by success is that you should end up with profits rather than losses within your predefined trading durations. It could be hours, days, weeks or even months, but only as per your "Trading Plan". Random profits, luck or gambling gains cannot be considered as success.
Thus, in order to be successful, you need to learn first and then obtain plenty of experience.
When it comes to learning the fundamentals of a selected Cryptocurrency, I believe it is not very difficult but one will have to read a lot to grasp the knowledge. Fundamentals are the fundamentals without which you will not know how good your crypto would be in the near future and the future.
When it comes to Technical Analysis, the knowledge is widely available but statistical analysis itself is much more serious than you would hear in YouTube or so. If it is not, why are there bachelor's, master's and even PhDs for the said field? If you hold a degree in Mathematics or statistics, you would clearly understhand what I am talking about.
I'm not discouraging you, but if you want to master Technical Analysis, do not start from "technical indicators" but start from the basics of statistical analysis and obtain a sound understanding about "technical indicators" and the theories behind them. That will bring you more success with experience than blindly using them.
Above is easy to say but very difficult to achieve in the real world as different people are good at different fields but they all are not good at statistical analysis. That claim is also based on statistical analysis of humans.
I believe this is the main reason why copy trading is required by many people. You may not be able to master statistical analysis, but you may be able to follow the footsteps of a one who does. It's easy and works better than hustling forever. If you follow the right person, you will profit every month while minimizing the risk.
It is also a good option if you do not have time to stare at tecnical charts for hours to find good entry points, draw trend lines, supports or resistance lines.
In simple terms, copy trading is like you hiring someone with sound knowledge and experience to spot entry ponts for you while you engurage in your day to day life.
Kaalama Crypto Pro - The Copy Trading Club is our solution for you. Just give it a test drive.
All the best.
Dr. Buddika Adikari
Founder of Kaalaama.org and Kaalama Crypto Pro - The Copy Trading Club
B.Sc (Moratuwa), PhD (Surrey, UK)
(Ph.D Thesis in Amazon: Stereoscopic Video Coding for Mobile Applications)
© Buddika R B Adikari All Rights Reserved.