Learn Bitcoin Trading Basics of Trade Strategies

For traders wanting to use trading strategies to trade the btcusd trading market there are a few other basics that a trader should know that will help to make the trading strategy being used become more successful.

After a trader has learned about technical analysis of indicators and the analysis of cryptocurrency charts, a trader will need to come up with a trading strategy. Trading strategy that a beginner trader uses can be based on the following most commonly used trade strategies in Bitcoin.

A trader can learn about basics of how to create a trading strategy by learning from the above examples trading strategies.

Once a trader has come up with their bitcoin strategy, they should also include the following so that to make their bitcoin trading strategy more successful.

1.Bitcoin Trading Money Management Rules

2.Bitcoin Trading Psychology

BTCUSD Trading Money Management Rules

Bitcoin money management guidelines should be part of your strategy - these rules will help you as a trader to manage risk. This means that you'll use the 2 rules of bitcoin trading money management - these are risk reward ratio and drawdown reducing method when placing your trades to determine the lot size that you will put in btcusd trading market. The most popular bitcoin trading money management rule use in cryptocurrency trading & the one that you should also add to your trading is the rule that says that a trader should never risk more than 2% of account equity on any one single bitcoin trade.

To learn about these 2 bitcoin trading money management guidelines traders should read the bitcoin trading money management tutorial that is on the learn bitcoin trading lessons section of this web-site under the bitcoin trading key concepts lessons.

BTCUSD Trading Psychology Mindset

In order to become successful when trading the btcusd trading market a trader has to learn about bitcoin trading psychology. The bitcoin psychology or mindset that is required to become successful in bitcoin trading is one that avoids the emotions of fear & greed while trading & is a mindset of total discipline that the trader will follow all their rules and their bitcoin strategy & only trade with signals which are generated by their strategy. With discipline a trader will not trade unless their trading system gives a signal. A trader will have the mindset of only following their bitcoin system 100% all the time without second guessing the system. A disciplined trader will also not place trades in btcusd trading market just because the btcusd trading market has started to move upwards or down, instead a trader will wait for a signal to trade to be generated by their bitcoin trading strategy.

In order to study more about bitcoin trading psychology & how to manage emotions while trading the btcusd trading market a trader can read the bitcoin trading psychology tutorials from the learn bitcoin trading lessons section of this web-site under the bitcoin key concepts courses.