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Yes, how can it be said that the risk management that we do can be effective in trading, seeing the market situation that is currently being dumped, for me there is no need to open sell if it has touched the % we set. It is better to hold it, because the support line will form again in the market and lead to the resistance line. And it is an opportunity to do an open sell.
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Yes, these two types of trading are different. Forex trading, if you misanalyze you will lose everything. Crypto trading if you misanalyze you won't lose everything, you can still wait until the market recovers. Furthermore, with that $85 capital I think you can continue trading, you can learn on youtube and other articles on how to trade in crypto.
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Because of the uncertainty we are required to have market knowledge and how to analyze the market so as not to get caught in a loss. The market will always change every day, there is no certainty up or down. When we are in the market, we must apply all the strategies we have, don't stick to one strategy. Because as the market goes on there will always be updates and so will analysis and strategy.
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There are basically two types of trading on binance generally (SPOT trading and FUTURES trading
📌 Spot Trading: you buy any coin of your choice at any given rate, you HODL for it to rise higher, you sell at any point you feel it has risen enough
📌 FUTURES trading: you predict whether a particular coin is going to rise of fall in price, if it goes in opposite direction from your prediction, you lose your money and your coin
Note: In SPOT trading, you can never lose your coin, the worth of your coin can only reduce but your coin remains to rise again in worth when the market goes green.
Yes, spot trading is the safest trade for us crypto enthusiasts. Not only for beginners, those of us who have been in crypto for a long time are also advised to use spot trading. it is safer to trade futures and will not be harmed by dump market conditions. The key is for those of us who use spot trading, patience is very important for us to have. |
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The first is his desire and commitment in the crypto space, if we don't have the capital to invest or trade, we can still do it with bounties and air drops. We, as participants, were clearly not asked for capital to participate in the campaign. And if later you have got results, then feel free to trade to take advantage in the market. So basically, not only the rich or the middle class, as long as there is a desire, everyone can use crypto.
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Yes, not all of our money is stored in the bank, we also need to make our own safe to store money. Some other needs that must directly use cash and not digitally. If we are in a place where technology is owned by everyone, we can easily use banks or other digital money. But if you are in a certain area, sometimes cash is the last resort so that we can transact the necessities of life.
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We don't have to regret what happened, let alone go crazy. The market always provides an opportunity for us to take advantage of it. When something bad happened in the past, then make it an experience to make the next trade. If you are lucky, take it immediately so you don't regret it a second time.
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If you feel you are still experiencing losses on the assets you have, it is best to keep your bitcoins. You don't have to worry about the price going down again, because when a dump occurs it will definitely repeat itself with the pump. The solution you have to do is to keep holding on until you get a profit, even if you are short on finances you can sell which is roughly enough for your needs. Do not let you experience a big loss.
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I don't think you need to leave both, airdrops and bounties are the main sources to start trading without using personal capital. You can also trade, if for beginners who want to learn trading, you can directly search on YouTube, there are many channels that discuss good trading methods. For me, you keep working on airdrops and bounties and you make trades too.
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Yes, not everyone believes in bitcoin if they have never actually seen the people around them who have successfully traded bitcoin. In the world of income sometimes people only believe in real work rather than just monitoring the market. The experience you said has also been experienced by me, but for now everyone believes Cryptocurrency, can provide benefits for its users, but this is inseparable from the risks that will occur.
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Yes, the four points you mentioned must be owned by a trader, especially novice traders must really have good management in trading. Talking about management, there are many things that must be managed, including the time in trading and the amount we have to trade and the money we save for emergency needs. If a trader invests everything they have, it will be fatal, they have to sell even if they lose. So pay close attention to financial management.
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Trading cryptocurrency aren't for kid's , it's for people with matured mind. Going into cryptocurrency trading , one have to build up is mindset to be patient to trade for a long time. One of the problem that affects traders during trading is that they think so fast to make profits . Trading cryptocurrency for a very short time always is not the best as a trader . Successful traders I have come across go into longtime investment , trading is not just acquiring cryptocurrency but trading comes from the mindset. If the mind is not on positive direction it can result to bad outcomes. And at this point now that the cryptocurrency price is low it's best time to go into longtime trading that will yield good profits in time to come.
So, do not be too hasty to make profits , short time trading don't pay much
You have provided traders with input on the basics of trading. I quote about "don't rush to make a profit" for me to make a profit depends on the trader himself. if the profit they expect has been achieved, I don't think it should be fast or slow in trading. it all comes back to the profit we want to achieve, what every trader must have is patience and not be affected by market conditions. |
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If it is a coin that has good fundamentals, I prioritize BTC to invest, regarding BTC, everyone knows its power now. However some of the other Altcoins I have looked at ETH and BNB are good alternatives for long term investments. If I project that in the future ETH and BNB will continue to be in demand by traders and investors, because of the very high trading volume.
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Not everyone expects destruction, try to go back to when Bitcoin did not have as high a value as it is today. Do you think the value of bitcoin would not be what it is now. Yes, of course there are people who regret not holding bitcoins in the past. But what needs to be said is with the development of Crypto until now, Crypto users are increasing, does this bring destruction to Crypto? Precisely not, this makes Crypto even stronger and in demand by many new investors.
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Make a hold based on your timeframe and profit target. For me, hold has a basis, meaning we invest in the long term and in the long term we have to determine the percentage of profit. If it has been achieved we have to sell it, no need to hold back anymore. If we continue to be swayed by further market spikes, the outcome will confuse us with a decision to hold.
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Psychologically, people will be depressed if they experience a loss, and vice versa if they make a profit, they will feel happy. Not everyone is ready to lose, although actually entering a trade there are two outcomes, namely loss and profit. Controlling the mind is to think that in trading we are not always going to profit, there are times when losses will befall us. So for me it is enough to think positively, the important thing is never to sacrifice everything to recover all losses. This is fatal, sometimes the market is not necessarily the same as we predicted.
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You have missed an opportunity, this should not happen again in your next trade. for me the advantage I get is my success in opening a trade, I will take it immediately and will not waste it. what we need to know if we want to continuously want greater profits this leads us to greed. for me take and open the next trade, this can be a good decision if dump happens.
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You said not to rush when trading, I was more concerned with the initial target when entering a trade. in trading I have a profit target, if it is achieved I often sell or close trades at once. I prefer trading management with the target technique, so I won't think I want more profit if the target has been achieved. since we cannot predict the market with certainty, this is a precaution so as not to regret it in the end.
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if you already know how to trade and you just want to expand your knowledge of how to trade and develop your strategy I think that's great. You can develop it with books, because the paid ones will not be available on the internet for free. and also available will not describe in detail. You can also use the free one, it depends on your wishes.
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Yes, bitcoin is not supported by anyone. It would be very difficult to answer this question. Simply put, the value of bitcoin will continue to exist if it is still used by the community, if it is not used again directly its value will be lost. The logic goes like this, If you invest in bitcoin it means you are a supporter of bitcoin to keep its value. This means that the value of bitcoin depends on the person who uses it, and there applies the law of the market, namely "supply and demand".
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