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Peter Brandt, a commodity trader with almost 60 years of experience, who often shares the charts of such cryptocurrencies as Bitcoin, Ethereum and — in the past — XRP, has made a present to future commodity and crypto traders by giving them two important pieces of advice.
Two crucial things crypto traders need to know: Brandt
Peter Brandt addresses new and aspiring traders of futures and other assets, sharing two important recommendations with them. In these recommendations, he refuted popular myths about which resources young traders should use.
The first myth is that a large account (with $50,000 or $100,000) is necessary for successful trading. This is wrong, Brandt states. He insists that a trader should be able to “at least break even” for a year or two using small accounts (with around $5,000 or $10,000). If they cannot achieve that, then they “don’t stand a chance with more.”
The second myth lambasted by Brandt was that it is allegedly necessary to have many computer screens as the main condition for making profits. Wrong again, he says. Traders should be able to break even with just one screen for one or even more than two years. Otherwise, they “will not succeed with a room full of screens,” he said in the tweet.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team