Catching Up to Crypto

CHAPTER 15Tips of the Trade: Charting, Trendspotting, and Leveraging

Most of the basic concepts, principles, tools, and indicators of traditional investing also apply to cryptocurrency, and investing and trading are the most common bridges between the two. The first lesson to learn in both investing and trading is that you won't get optimal results every time. To put it bluntly, sometimes you lose everything. So learning how to stomach the realities of losses is an absolute necessity. Some people who are very risk averse find that even relatively safe investments give them anxiety because they aren't completely in control. Good investors and traders know that nothing is guaranteed, and losses happen. Handling those losses like a champ and focusing on learning a lesson from each loss will keep you humble. You need to stay in the market if you want to gain enough experience to tilt the odds of success in your favor. You can't beat the market if you aren't in the market.

If investing is more your style, then there are several steps you can take next to get started on this journey. There is a list of resources in the Appendix to assist you in making some of these decisions. What follows in this chapter is about trading. But before you do any trading, I want you to be prepared for everything that comes along with professional trading. As I've said before, just reading this book isn't enough. You're going to need to really commit to learning everything you can. But I can get you ...