I predominantly trade Bitcoin as my primary source of income. I do trade other cryptos, but Bitcoin comprises most of my trading income.

It has always been my dream to be able to live off trading, and I only became consistent early last year. This was since 2017.

Since that time, I have made a great deal of mistakes, and also learnt a great deal. I have made crazy high profits, sometimes over 1 Bitcoin in just a trade, and have lost crazy high amounts of Bitcoin, a little over 2 in just one trade. I have also met a great deal of amazing people in the industry, as well as met a bunch of bad characters.

In this post, I'll teach you all I know about becoming a successful trader(on my terms) and possibly living off crypto.

For those in doubt, I will show you my trading report from a few months back. I turned a 0.05BTC account into 0.1BTC in just 3 days. Here's the photo:

That account is just over 1BTC today. I hope you believe me now.

Also, many people might ask: "if you make so much money, why write on Publish0x?"

And it's really simple. I'm writing inclined, really. I have a personal blog that makes me some money through Brave rewards, and I'm using Publish0x to increase my crypto portfolio for free. The cryptocurrencies I get here (excepting BAT) are some cryptocurrencies I've been looking at as good investments, buy don't want to spend money on.

Now that we've got that out of the way, I'll like to ask a favour. Please share this post with as many people as you can. I've noticed that these kinds of posts of mine don't get very famous, but I want to see a lot of people benefit from these tips.

Ok. Let's get started. For real this time.

First, you'll need to save up money. I don't care what anyone tells you. You simply cannot turn a $20 account into a million dollars in your lifetime. It's not possible. Have realistic expectations.

I don't mean you should buy bitcoin with your life savings or remortgaging your house, but starting with anything over $1000 is better. 

You could use Publish0x as an income source also. If you have any savings, you could take some money from them. You could also search for giveaway posts on twitter. Just try to get some reasonable capital.

Next, focus on your education. 

My teachers used to tell me: "Learn first. Then you can remove the 'L' ". This message has stuck with me, and I can't emphasize it enough.

Regardless of your experience level, you'll still need to learn the ropes again. I say experience level because some of you might have traded in the past, with or without much success. Regardless of your success level, you gained experience. But I want you to imagine that you don't know anything again.

Read books on trading. Specifically trading the stock market. This is because there aren't any good books on crypto, at least not yet.

If you don't want to read books, visit Babypips.com, and read their lessons in this order:

• Candlesticks
• Support and resistance
• Moving averages(focus on this. They are lifesavers)
• Fibonacci
• Indicators(also focus a lot here, especially on the OBV)

Forget about chart patterns in crypto. The market isn't mature enough to see playouts on those.

You should preferably learn anywhere from two weeks to a month.

Once you've learnt and are sure you've learnt, you have to develop a trading plan. This plan must be heavily based on the parts you have to learn. I have mentioned those before.

Once you have a plan, you must backtest it, on multiple timeframes. Your plan must work out to giving you a 1:1 risk to reward ratio in the very least. This means that on every trade, you stand to gain as much as you stand to lose.

If your strategy gives you anything below a 1:1 ratio, you may want to rethink that strategy.

Next, you want to paper trade the strategy. I recommend ByBit.com as a place to paper trade. You'll be trading perpetual inverse swap contracts there, so you can use some leverage. But we'll get to that.

Once you've paper traded for 2 weeks to a month, you're ready to go. But not yet. 

You must ensure you don't fall into the trap of too much leverage.

Leverage is a double edged sword. For instance, if you make a profit of 5% on a move, with 5x leverage, that amounts to 25%. 25% on a 1000 dollar investment is $250, as compared to 5% which is just $50.

However, it works the same way for losses.

Many people fall into the trap of using 100x leverage on every trade. I use 100x also, but only when my trade is very high probability. This means that my risk to reward is infinity to zero. So there are no risks on the trade for me.

Equally, use a stop loss on every trade as long as you're using leverage. This is to ensure you lose only what you're willing to lose, and nothing more.

And that's it! These are the exact steps I used to becoming a profitable trader, and being able to live off trading.

If you want any guides in the future on anything specific, leave s comment below and I'll try to make a post about them next week. 

Thanks for reading.