Everybody loves doing something they’re good at, so if you could start trading crypto and make millions during the first month, you would become obsessed with it. The problem is that this is likely not going to happen. After not becoming a millionaire for a while, your resolve may start faltering, and it will become harder and harder to like what you do (in this case, crypto trade). Fortunately, there are a few ways around this hindrance.

Here are the top ten ways to start acting and living like a crypto trader to make belonging to this industry more natural.

1.  Develop a self-improvement routine

When discussing self-improvement, most of us imagine someone studying like they would in high school or college. This means sitting at the table for a few hours, looking through materials, underlining, and memorizing countless phrases.

It doesn’t have to be that way.

What do you do while sipping your morning coffee? Chances are that you’re reading your favorite gossip column. Why not replace this with crypto-related materials instead?

Why not follow many crypto podcasts, save/download some of them and listen to them while running on a treadmill or driving to your day job? Wouldn’t this be simpler and more engaging?

Just make it a part of your routine instead of trying to force it in.

2.  Pick an exchange whose UI you like

They often tell you that you should pick an exchange platform with features that suit your trading style, but the truth is that most of these top platforms are fairly competitive. It’s not like there’s one key feature the X platform can’t provide you with, so you must choose the Y platform.

They don’t tell you that you’ll spend hours upon hours looking at the UI of the trading platform. So, picking the one that you actually like makes a difference. You can also focus on the UX while doing your research.

You also want to ensure that the platform has decent customizability features. This way, you can adjust the dashboard to your liking.

3.  Turn your room into the headquarters of your trading empire

A part of the appeal of crypto is that you can do it all via your phone. This means you don’t have to buy new equipment, get an office, or anything else. However, does the idea that you don’t have to mean it shouldn’t? Of course not.

Many people lack the discipline to commit seriously to this open business structure. So, why not give it a spin and turn your bedroom into the headquarters of your future trading empire?

Get yourself an extra monitor, and look for a TV to hang on the wall so that you can follow trading charts in a higher resolution. You can commit even further and look up some of the best gaming televisions at the moment. Why not choose quality?

To top it all off, you can even hang some inspirational posters (framed) on your walls.

4.  Learn how to handle bad news

As mentioned in the introduction, everything works fine while things are going well; however, how will you handle bad news? You shouldn’t start trading if you quit on the first sign of bad news.

Keep in mind that bad things happen periodically. With so many regulatory bodies, scams, and cybersecurity threats out there, bad news in crypto is, more or less, inevitable. So, you can’t just handle this as you go; you need a method of dealing with it.

Leading a healthy life-work balance, having other hobbies and interests, and finding a way to blow off steam are some methods that might work. Ideally, you want to find something accessible that you enjoy.

5.  Develop a network of contacts

Having sources is great, but knowing people who deal with this is even better. Sometimes, it takes too long for a question you’ve asked to get answered. Having someone to ask via a DM is a far better idea. This way, you’ll get more insight.

Ideally, you want to find a mentor. Engaging in someone’s course and establishing a personal connection is a good way to do this. Remember that a great trader doesn’t necessarily constitute a great teacher.

Copy trading means you’ll find an experienced trader and set up your platform to copy their trades. While this is all well, choosing the right person differentiates between failure and success. You must research (even some outreach) to ensure this is possible.

6.  Start small and work your way up

Reading is great, but it only takes you so far. To become a true crypto trader, you must start getting your own experience. However, going all in is not representative of what crypto trading is like, and it will ensure that your run doesn’t last long enough for you to learn anything substantial.

Instead, you must start small and stretch your experience a bit thinner. Ensure you have a trading budget (money you can do without) to avoid endangering your finances. Also, during your first trades, set modest goals and see how things turn out. Later on, you can scale up.

7.  Give paper trading platforms a go

What if you could enjoy simulated trades (like in a video game)? Here, the money you spend is not real, although the money you earn wouldn’t be real either. This is an experience that paper trading platforms can provide you with.

While this is generally a great idea, it also has a significant drawback. You see, a risk is a part of the trading experience. You’ll trade differently when you don’t dread the loss. This is why an ounce of real trading experience is worth more than a pound of knowledge from paper trading.

8.  Read a lot about the investment psychology

Understanding why people trade the way they do is detrimental to predicting future trends in the crypto market. Why do people believe that it will be the X token that makes it and not the Y token?

These decisions are not always data-driven, so you can’t just look at the technology behind the crypto (or the current/past performance). You should investigate these features either way; you must pay more attention to investment psychology.

For instance, many people believe that good things are more likely to happen (positivity bias) or that everyone makes money on crypto (survivorship bias). By understanding this, you can avoid it more effectively.

9.  Avoid acting like a gambler

It is common knowledge that some people who paint display various signs of gambling-like behavior. What does this mean?

Well, they start believing that luck is the main determining factor of their trades (although they disguise it as intuition). Then, they start seeing patterns where there are none. They fall into a typical gambler’s fallacy, believing that, since they previously lost, it’s time for them to gain, and so on.

The only way to avoid acting like a gambler is to make data-driven decisions and keep your emotions out.

10.  Don’t be ashamed of your new career

There’s much looking down on crypto traders (even crypto millionaires) in the modern investment world and media. People believe these (usually young) individuals made it because they were lucky and have no place in giving anyone financial advice.

This cannot be further from the truth. There’s a reason why these people were among the first to recognize the potential of crypto. There’s a strong reason why they waited for an even higher price while all those “cunning” traders sold their Bitcoin at $10.

You need to embrace crypto trading as your profession and find pride in it.

When you start living like a crypto trader, you’ll have an easy job getting into this mindset, as well

You’ll already feel like a crypto trader by embracing these ten habits. As Robert Kiyosaki once said, being rich is a matter of a mindset, not your asset status. You can say a similar thing about crypto trading. You need to adopt the right mindset; this is one of the quickest ways to get there.