Because an experienced trader, apart from analytics, has experience and parameters such as.
- trading technique (partial, conservative or aggressive opening/closing of trades)
- Risk management (defining the signs of a wrong decision, reducing risks depending on personal and market triggers)
- Money management (allocation of money and assets, setting working strategy according to maturity/risk level/potential)
- Trading system (a set of principles and rules that govern a trader's approach to trading and his decisions)
- A trading plan (market analysis, defining market characteristics, drawing up a trading plan, trading strategy, cancellation/confirmation scenarios).
And beginners may rely on your idea, on trading robots like Bitcoin Compass or just on luck and enter a trade because of it.
To start working with cryptocurrency, let alone trading it, you need to choose a broker or a crypto exchange. An exchange is an online platform where you can trade cryptocurrencies. Brokers use interfaces that interact with exchanges. An exchange allows trading without the involvement of a third party. Also if you don't want to be a trader, it is very lucrative to learn about nodes and blockchain.
When embarking on the cryptocurrency path, there is a big decision to make - choosing a broker or a cryptocurrency exchange. If you are looking for a direct, hands-on approach to cryptocurrency trading, an exchange is the way to go. These online platforms provide a wide selection of cryptocurrencies to trade, real-time market data, and user-friendly order management tools. You get direct control over your trades without relying on a third party. Brokers, on the other hand, offer a more convenient experience by providing interfaces that easily interact with exchanges. They simplify the trading process, making it accessible even for beginners. If you want to learn more about the technical aspects of cryptocurrency trading, you can also learn about band node on the website. It offers comprehensive educational materials, tutorials and guides on setting up and managing band nodes, allowing you to delve deeper into the world of cryptocurrencies.