Futures market or any trading market is all about prediction at the end of the day. One can do analysis, get insider news, study and learn a lot of things, but in the end, everything is a prediction. That is why there will be losses and gains and the person who makes more gains than losses is the winner in these markets. Crypto prediction markets are not for everyone especially not for those who do not have any idea about risks and how to manage the risks to bring it down to the minimum. There are only a specific group of people who have the quality to make money in the futures market or any speculative market.
Fixed System – A person who has found a successful trading strategy by trying out many of them, he is sure to be a winner in the speculative market. Unless you have some fixed strategy of making a market, 99% of times, you are going to lose while others are going to make money.
Active Learners – A person has to be an active learner even when his strategy is yielding him good returns. The reason is that speculative markets are progressive and ever-changing. There are various new tolls coming in the market to help the traders and a person has to be an active learner to be aware of changing and news tools and implement them to maximize the return. One needs to go to the seminar, attend the webinar, and interact with other experienced traders all the time.
Independent Thinker – One should never be influenced by others unless he can see some really great points to adapt to. An independent thinker is the one who never follows what the crowd is following because he knows that they are going in the wrong direction. He pays attention to his own analysis and strategies rather than chasing others. In the crypto prediction markets, there are only a few percentages of independent thinkers and the rest are losing crowds.
Strong Analyst – To make money in a speculative market, the analysis is the most important tool. A person has to analyst the item he is about to purchase or short selling. It can be technical analysis or fundamental one or a combination of the both so that the trade is based on facts. There is no dearth of information on the internet but one has to know how to use al the information to his advantage and take the best trade position possible.