The profitability of trading depends on a huge number of factors. You must have a base of knowledge and skills, be able to analyze the market and the mood of its participants, and also build your own strategy.

Whether or not to place a trade is a choice you will have to make, no matter what style or market you trade. But most of us don’t like to make financial decisions “right away” - we prefer to analyze the facts, do research and weigh different options. For this you can use Immediate MaxAir AI. 

Trading should be no exception! Here are 5 key points that will help you make consistent profits from cryptocurrency trading.

1. Clearly define your trading style 

What timeframe are you using? Which indicators are right for you? Do you need to follow the news daily? What part of the deposit should I use to enter a trade? You will get answers to these questions by deciding on your trading style. 

So, if you prefer to make trades only when there are strong movements, then assessing the state of the market on a daily basis will not be as important as with active scalping or even position trading. 

2. Be indifferent to cryptocurrency 

“How is this possible?” you say. After all, you decided to engage in cryptocurrency trading because of your belief in the digital revolution, the bright future of Bitcoin, the huge potential of Ripple... (underline as appropriate). 

Profitable trading in the crypto market is incompatible with emotional attachment to the projects you work with. Investing all your funds in your “favorite” coin, ignoring obvious technical or fundamental reasons not to do so, is a surefire way to lose your deposit. 

The transformation of a coin into... a living person will lead there just as quickly. Yes Yes. The most obvious example is an active attempt to “recoup” after losing part of your capital, when you continue to make transactions with the very coin whose trading led to a loss. 

Remember: successful trading = cool mind. 

3. Accept your losses

When faced with a losing streak, most traders tend to blame themselves and try to change their strategy. They believe that losses occur due to: 

a) their erroneous actions and/or b) an unsuccessful trading system.

Then they are consumed by despondency and doubt, and some try to “take back what they have from the market” by rebuilding their trading plan in order to get as much profit as possible in a short time.  

If you constantly change your decision-making system, it becomes completely impossible to know what works and what doesn't. The secret is not to adhere to a single strategy all the time, but to consciously analyze its results: both positive and unprofitable ones. 

Losing part of your capital is a common occurrence, and even professional market participants often close negative transactions. You must develop a tolerance for failure, avoid fear, and accept failure as part of the path to excellence.

4. Handle winning trades correctly

A few winning positions can easily turn the head of inexperienced traders into believing that their trading system is infallible and their market analysis is flawless. Some may even consider that they have the gift of 100% resistance to losses. 

Overconfidence can be your worst enemy. It is this that pushes people to violate the rules of risk management, or even to start margin trading.  

5. Life outside of trading should be fun

The decisions you make during the trading process often depend on the quality of life: victories, losses, quarrels, insults, nerves... If your emotional background is negative, it will also negatively affect your trading results.

And at the same time, positive thinking and following a trading strategy will help you record more and more successful transactions on your account! 

6. Fear and greed... put it in a drawer

Yes, this is a bonus - sixth - secret. Feelings such as fear and greed will always be present in life. However, being aware of the times when you are emotionally aroused will definitely save you thousands of dollars. 

How to overcome excessive involvement? The secret is simple. Do you feel like emotions are boiling over the edge? It seems that it is impossible not to enter into a trade, because the coin will “fly to the moon” without you? Or is it scary that everything will suddenly fall even lower, and it’s time to hastily get rid of assets? Stop trading! Gambling most often ends in rash decisions, unprofitable transactions and loss of deposits. 

The best solution may be to go for a walk, light exercise or short meditation. The most important thing is to take a break from the monitor for at least 10 minutes and transfer your train of thought to other topics. Globally significant movements in the market will not occur during this time, but the ability to think soberly will clearly return.