Important Qualities Every Good Crypto Trader Must Have 0 34

If you are planning on trading in the cryptocurrency market, then you need to find out exactly what qualities you need to develop in yourself. Without these qualities, you will not be able to achieve the best potential of your cryptocurrency investments. There are millions of people trading in the cryptocurrency markets, but not all of them are able to achieve their financial goals. Sure, in some cases, luck just doesn’t work in their favor, but in most of them, it is because the crypto traders lack certain qualities.

Therefore, before you risk your precious and hard-earned money in the volatile crypto market, you should focus on improving your skills and habits. This can help you in boosting your performance and bring you closer to the goals you wish to achieve. Following are the habits that are best suited for those who want to become successful crypto traders in the long run:

Thinking for yourself

Yes, this is something that should be obvious, but most people need reminding. You need to think for yourself when you are trading in the crypto market and be wary of the ‘herd mentality’. This is an issue that has become quite common in different types of traders, such as forex, stocks and cryptocurrency. In fact, herd mentality is responsible for the speculative bubbles that resulted in the chaos and collapse of the traditional financial system. While you do need to be aware of bull and bear periods in the market, this doesn’t mean that you make decisions about purchasing a cryptocurrency without doing your research.

Be good with numbers

No, this doesn’t mean that you need to know linear algebra or advanced mathematics. You just need to understand the quantitative variables of the crypto market properly. In order to trade smart, you have to be able to calculate the bid-ask spread and figure out how to come to conclusions with the help of indicators, such as volume or Relative Strength Index (RSI). There are different types of charts and analyses that need to be performed as well. Thus, being good in mathematics will certainly work in your favor when you are trading in the crypto market.

Lifelong learning

Successful crypto traders are those who understand that you will be learning all your life. This means that you have to constantly watch the news and stay updated about the trends in the market. You need to use this latest information for modifying your strategies. In the volatile world of cryptocurrencies, you have to be agile and smart if you want to succeed and stay in it for a long time. Sometimes, even a small piece of news can turn out to be a catalyst for huge changes in the market. As long as you don’t stop learning, you will be able to achieve success.

Be disciplined

You are not ready for a trading career, much less crypto trading if you have not developed discipline as yet. Discipline is of the utmost importance and you need to apply it to all investment-related issues, which include learning to avoid impulses based on intuition and speculation and keeping your emotions like greed and fear in control. As long as you don’t let these things get in the way and stay disciplined, you will be able to minimize your losses.

Realistic expectations

Of course, every crypto trader would want to earn as much money as possible and there is absolutely no harm in having such expectations. However, there is a massive difference in always expecting your trade to be successful and trading based on rational and practical analysis. Crypto traders who are convinced that each of their trades is going to be a win usually fall quickly. You have to be realistic when you trade in a market as volatile as cryptocurrency. Even the most successful traders have to face losing trades at some point.

Do everything possible

This quality is found in all successful people. The difference between failure and success boils down to how many times you manage to get up after a fall. If you want to achieve in a market as competitive as cryptocurrency, you need to be ready to do everything in your power to win.

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Mila Kunis Sold NFTs of Her Animated Series “Stoner Cats”, Sales Collect Over $8 Million 0 5

Mila Kunis, an American producer, and actress has successfully sold her NFTs for millions of dollars. The NFTs comprise teaser of the upcoming animated series of Kunis namely “Stoner Cats”. Only the purchasers of Stoner Cats NFTs will exclusively enjoy the privilege of watching the series, which is currently in the final phase of its completion at Orchard Farm Productions.

The global crypto community nowadays is going gaga about the Non-Fungible Tokens (NFTs) created by Mila Kunis.

Kunis is an acclaimed producer and appeared in various roles in the movies as a lead actress. Her most admired lead role was played by the actress-cum-producer in the movie titled “Black Swan”. She is married to co-star, Ashton Kutcher and both, individually and collectively, own multiple businesses. One of the businesses that Kunis runs is the production house called “Orchard Farm Productions”.

One of the latest upcoming projects of Kunis’s production house is a fully entertaining animated series called the “Stoner Cats”. The series has been co-created by Kunis along with her husband, Kutcher. Prior to the completion of the upcoming project, and before its onscreen playing, Kunis decided to issue a teaser in the most unique fashion. She eventually decided to launch the teaser by containing it in the Non-Fungible Tokens (NFTs).

It was reported that celebrities such as Seth MacFarlane, Chris Rock, and Jane Fonda are playing roles in the Stoner Cats series. Apart from the actors, even a role has been assigned to Vitalik Buterin i.e. the co-founder of Ethereum. It was told that Buterin was playing the role of a character in the series as “Lord Catsington”.

As regards the storyline of the series, it was told that the story revolves around a woman named “Ms. Stoner” who is suffering from Alzheimer’s. Ms. Stoner happens to have various cats living in her house and she is very fond of them. However, to keep her health in order, Ms. Stoner starts taking medicines made up of marijuana. Somehow the cats living in her house were accidentally exposed to marijuana smoke which led them to talk like insane.

A 27-seconds long video clip of the upcoming series has been made available on the website of Stoner Cats. The video gives a glimpse of the story to the viewers. However, the full video content in the series would not be available to view by everyone. In fact, only those will be allowed to watch the full content who have purchased the NFTs.

Reportedly, Kunis has managed to sell approximately 10,000 NFTs of the upcoming Stoner Cats series. Surprisingly, all the 10K NFTs were sold in only 35 minutes since the initiation of the sales. Each NFT was sold against 0.35 ETH i.e. equivalent to US$ 800/- each. It was informed that the total sale of NFTs collected sale proceeds to the tune of US$ 8.4 Million approximately.

Chris Larsen Ripple Chairman Shows Concern over Dogecoin and Issues Warning to Holders 0 10

Larson now joins the list of some of the world’s most renowned crypto scholars who have revealed their concerns about Dogecoin and told investors to think twice about over-investing in Dogecoin. Ripple Chairman informed investors about the risks associated with investing in Dogecoin. He compared it to gambling and said that most people who gamble end up on the losing side.

Since the Wall Street Bets movement broke out earlier this year, several prominent figures in the encryption field, including Charles Hoskinson and Barry Silbert, have issued similar warnings. However, as of this writing, Dogecoin remains the world’s top-10 cryptocurrency. Although people are now trying to ignore Elon Musk, Larson pointed out that a large part of Dogecoin’s success is due to the head of Tesla. But when he “ditched” Bitcoin, Larson thought he could abandon Dogecoin too.

During his critique, Larson also opened up about Dogecoin’s supply overflow and currency algorithm. He said that company’s algorithm is not environmentally friendly at all. He also questioned the overall mechanism by saying that it is far away from the market’s required quality.

To invest in some sort of memes-oriented company and Musk is nothing short of gambling. Seasoned and mature investors would never likely go for this option it’s rigidly off the cards. Investing in Dogecoin while eying the moon or space is nothing less than nonsense.  Despite the fact that Dogecoin was down to 74% three months ago. But since then, Dogecoin has remained stable and now its price is stable at a flat rate.

However, over the past week the currency being trade tightly between $0.19098 – $0.22888. In the past ten weeks, its momentum has been firmly entrenched in the lower half of the RSI chart. It seems that RSI is beginning to bend downward again. Even though it’s a massive ask for Dogecoin to rise above $1 mark in the coming three to four months but still investors are getting advantage of the low-price range and pilling up Dogecoin in their digital assets’ platform. The active hunters of Dogecoin do have their perspective of long-term investment, as some of the crypto scholars have labeled Dogecoin as a future long-term investment.

Despite facing staunch criticism from the critic’s Dogecoin is among the top 10 digital currencies. Traders have divided points of view about the funny nature of Dogecoins as currency is often mentioned as memes powered one. Those who showed their support for Dogecoin argued that despite the funny nature of the currency, Dogecoin has outperformed some of the renowned cryptocurrencies in terms of performance.  The unnecessary criticism could be a sign of danger or self-obsession towards Dogecoin.

 

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