Step 1

Objective: Master the fundamental concepts and functioning of the crypto market.

1. What is trading?

Buy and sell assets (cryptos) to profit from price fluctuations.

Difference between trading (short term) and investing (long term).

2. Essential terminologies:

Buy order / Sell order.

Stop-Loss: Limit your losses by automatically closing a position at a set price.

Take-Profit: Lock in your profits at a set price.

Volatility: A measure of rapid changes in crypto prices.

3. Understanding Trading Pairs:

A pair shows two assets that you are trading (eg. BTC/USDT means you are trading Bitcoin for USDT).

Action: Explore a platform like Binance or Bybit (open an account if you haven’t already). Familiarize yourself with their interface and crypto pairs.

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Step 2: Understanding Technical (Chart) Analysis

Objective: Learn to read charts to identify opportunities.

1. Types of charts:

Japanese Candlesticks: Each candle represents the price of a crypto over a given period (e.g. 1 min, 1h, 1 day).

Green: The price has gone up.

Red: The price has dropped.

2. Easy to learn indicators:

Support and Resistance:

Support is a level where price has difficulty going down.

Resistance is a level where price has difficulty moving up.

RSI (Relative Strength Index): Indicates whether a crypto is overbought (>70) or oversold (<30).

Moving Average: Shows the overall trend (short term or long term).

Action :

Download TradingView (free) and explore charts of cryptos like BTC/USDT. Use it to identify supports and resistances.

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Step 3: Establish a simple trading strategy

Goal: Establish a plan for when to enter and exit a trade.

1. Example of a beginner strategy: “Breakout Trading”

Observe a crypto that remains stuck between support and resistance.

Enter the trade when price breaks the resistance.

Place a stop-loss below the support to limit your losses.

2. Golden Rule: Risk Management

Never risk more than 1-2% of your total capital on a single trade.

Action: On TradingView, spot a situation where a crypto breaks a resistance level. Simulate a trade to see how it plays out.

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Step 4: Take action with real money (small amount)

Objective: Apply what you have learned with limited capital.

1. Start small: For example, $50 or less to test your skills.

2. Use low leverage (if available) to minimize risk.

Action: Make your first trade with a reliable platform and analyze your results.

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Step 5: Learn from mistakes and improve

Goal: Adjust your strategies and become more efficient.

1. Analyze your past trades: Why did you win or lose?

2. Keep learning: Follow tutorials, read articles, watch videos

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