The success of any trader is directly correlated with their knowledge, discipline, and most traders understand the importance of risk management. Still, some don’t know where to start on developing these skills.
The platforms are simple and easy to use and cater to both professional and amateur traders. They teach traders everything they need to know about strategies and reliable platforms, like the INX crypto trading platform, available on this link. The coin markets are constantly evolving, so they also have regular updates, new regulations, etc.
In this article, we would like to tell you the stories of people that have been through the highs and lows of trading. Some traders now have enough money to retire but continue to trade because they simply love it. Others are traders who lost most of their money and began again from scratch to earn a living.
Let’s turn our attention now to some of the traders’ interesting real stories.
The Energy Trader
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Energy Trader is a trader from Croatia and has been playing crypto since early 2015. He has made great returns by following his trading plan. This trader started trading Bitcoin, with which he made over US$65,000 in profit over three years with barely any effort on his part. He loved trading so much that he continued trading other altcoins. Energy trader had been trading using technical analysis and his system, but it wasn’t until he discovered our crypto trading course that he realized the importance of having a strategy. Energy Trader has created a new strategy through practice and more research to trade with confidence.
Energy Trader is proof that taking the time to understand your strategy and plan will help you make better decisions in the market, ultimately leading you to make a lot of money.
The Chef
The Chef started his career in 2008 as a day trader on Wall Street but later switched to crypto during the summer of 2013 after working as an entrepreneur in Japan. He enjoyed trading Bitcoin as he could make money in whatever market condition, and he also liked the liquidity (the ease at which an asset can be bought and sold). This trait appealed to him as he didn’t want to be in a situation of holding on to an asset for several days or weeks, waiting for the price to move. He soon realized that he was more suited to swing trading, and this was where his strategy took shape. The Chef realized that swing trading crypto had many similarities to the style of day trading that he once practiced. Still, with a few significant differences, the Chef took all of these factors into consideration when creating his trading plan and continues to follow it throughout his career as a crypto trader.
The Swing Trader
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This trader started trading when Bitcoin was just US$100. He began with a few thousand dollars and has made a lot of money since then by following his strategy that he calls the “Bucket Strategy” (although it’s more of a swing trading technique). The Sway Trader is good at finding the right time to enter and exit trades which means he doesn’t have to move the price very much to profit. His system works very well in both bear and bull markets, but he prefers bear markets as this is when you can make the most profit. This trader is good at picking pairs with a positive future and then following his strategy to maximize profits. One of his favorite pairs in the crypto market is NEO/BTC, which has seen huge gains since its creation.
The Day Trader
This crypto trader from the United States has been trading since 2013. He started with a small investment of US$500 and used this to trade Bitcoin for a few days and made over US$500 in profit the very first day. After a couple of weeks, he decided to quit his job and become a full-time crypto trader, which he has done ever since. At the start of his trading career, this trader made less profitable trades but came across some great mentors that helped him hone his skills. He now has a set of trading rules that allow him to trade in any market condition and maximize his profits. The Day Trader is proof that anyone can become a successful trader with the right mindset. He started with just US$500, and he’s now trading with over US$15,000.
The Hold Trader
Source: oceanofnoise.fr
This crypto trader from Australia feels lucky when he looks back at how much money he’s made trading crypto. He began his career in early 2014 when BTC was just US$500, and since then, he has earned over US$1 million by simply holding coins. He has a simple strategy that he believes in, and that is, if you hold a coin for over three months and it goes up, then sell. Simple as that. He doesn’t plan to trade any of his coins anytime soon because he doesn’t see any reason. He’s trying to make as much money as possible from his current holdings and would rather wait for a correction before buying more.
Conclusion
These traders’ stories have helped you understand the purpose of risk management. Different traders have developed various strategies to maximize their profits and losses. Besides adopting the right mindset, successful traders have a trait called patience. They may hold on to a coin for months or years before selling and not try to time the market or trade emotionally.
We intended to create this series of crypto traders’ stories not so that you can copy their systems or strategies but rather to give you a better understanding of how many different trading personalities there are in the crypto space. But if you wish, feel free to try out the strategies and trading plans of the traders above and see which one works for you. Happy trading!
