[3].Don't predict the market ,react to current market situation.
This is what that cost me blew a lot of my trading capital. Always wait for trend direction and follow the trend , As they say... trend is your friend until it's finished. follow the trend will only be profitable if you join it at the beginning not after it declines, for example memecoin if you enter the market at the beginning it will be very profitable but when join in middle or in the last period don't expect profit otherwise only become a long holder or do a cut loss if you don't like looking at assets keep dropping You are quite true to follow trend because you start making profit early before the market even get to the way where it starts slow move because more people have entered and some whales have pulled out but how to catch the trend is the real issue. Some meme coins only get popular around when it has already had ATH and entering such times is risky. |
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Try and learn how to draw lines too to indicate the extend of price rise and fall.
Drawing of lines is still a biase way to trade because it is based on the individual mind or the way the trader decides to draw it out from his indicator like some are using Fibonacci which can also be like drawing of line. I think SMA, MA and RSI are better to show every trader worldwide how the market has formed, overbought or oversold too because they are same across the world depending on the time or adjustments done on them but drawing of personal lines is only personal. |
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Maybe, he should modify the age range like maybe 25-45. Because at 18, most are enjoying their life and not thinking about their future. Whereas, by the age 60 and above, you are already in the retirement age, so by then, you should have savings already. But in any case, so long savings and investments concept is inculcated with you, you can start early. And that you will reap the rewards early. But many of us will have realizations when we are already at 30s-40s, that we should have save as much as we can or invest our money wisely. Anyway, as long as we are living, there's a chance to change our path if we decide to.
Referring to the age 18 , it depends on the country. The rate of development is not the same for every country and their capacity to act and knowledge not the same. In some countries, a youth at 18 years is already planning to leave the house and in fact it is cultural for the country but in some country at that age the child is just finishing high school with no prospect for job. This is the issue. Saving and investment for me should start from a young age not at closing to 70. |
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As old traders maybe we need to do some updates about the latest trading methods.
What do you really mean by updates about the latest trading methods. I don't think there are such thing as that. Every trader has a separate trading style that they also change from time when they are not seeing what they actually want in profit. To say having update about last trading methods may not be possible because no one trading methods that exist. |
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I have previously traded in forex and in my opinion trading in cryptocurrencies is easier than forex, besides that the price in cryptocurrencies is very volatile and this is a good opportunity for profit, while trading in forex sometimes in a month the price increase or decrease is not more than 1% so To make a profit, of course, requires huge capital.
The reason for forex being difficult is that you are not hodling the fiat for it to increase but you are trading it and therefore you can lose every money you have in the account and get to $0, this is the risk with it but you choose to hodl cryptocurrency and to wait for volatility of growth. That is why they are looking to be different but if you profit in forex then you will forget the risk  |
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To sum up, we should always know how to handle our emotions so we'll be able to deal with every market situation. Patience is also the key so we could make the right decisions at the right time. Also, continuous learning is too important because trading is a long process of learning. There's no such thing as perfect trading because we will always encounter failure but having enough knowledge will always be an edge.
Nothing like that to say a trade experience is perfect because every trader do witness losses in a week or between two weeks, so for newbies to think there are traders that don't make losses is not true but we can say it has been a good trade when the profit is higher than the losses. Patient is very important to trade, a trader that has no patience is going to keep losing. |
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Don't trade with borrowing.
This is obviously true not to trade with borrowed money. A borrowed money from friends or bank is not good for trading because it will put pressure on you, there is hardly people who have made it in trading by money that they borrowed. Trading is high liquidity risk so it is better done with your personal money not that you are trading with the hope of making repayment of loan, not healthy for trading. |
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I think only the people has changed. Some stay being dumb and fearful, while some have become smarter and fearless to take and manage the risk. And those who always see opportunities in the market and take advantage of the different market behaviors, they are the ones who mostly win in the end.
To me both the people, the market ,the indicators and all have not changed even when new coins are introduced. People have always feared losing their money and stay outside yet the market confirms what they saw that they didn't put an order and they regret not going in. This has been so, their has also been the risk takers, those who dares the market and come out with profit. |
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Learning from someone is better and faster to equip the newbie on the things needed and the speed of knowledge is not the same with that person that is just glued to the screen and trying to stumble in it. Yes after having the beginner's knowledge, that is having that start, you can then begin to practice those learnt skills and start teaching yourself again and by then it is clearer in your eyes
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Russian gas can not be the reason that it has become the corner of world economy. Russia is supplying gas majorly to EU and they have not prepared themselves for this kind of situation and this is the reason they are facing this situation when Russia is cutting out gas supply from them. There are other countries supply gas but because the EU have not been trading with them and distance making it a challenge. Russia is not a corner stone they are just rich in supply of gas to EU.
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I'm not an "active trader" or a day trader, but there might be a "counter-counter strategy" against the whales' "stop-loss hunt counter strategy" for the plebs' use of the "stop-loss as a strategy". It's for plebs to make their trades smaller, and stop losses wider. OR simply, buy the DIP and HODL.  If you make your stoploss wider then there are chances that the price eventually hit your stoploss that you have made too wider hoping it won't get there but it gets there and take you out thereby you lose huge. If you set a far stop loss and it hit it, you are losing a lot of money than using a minimal sl so that you don't lose so much of capital. |
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1. Deteriorating eye sight.
As a trader, especially the scalpers, your bond yo often return to your screen at regular intervals. You can imagine, your on screen whole at work and even off your work, you've got a screen in your TV or mobile phone before you who means, you've joy constant lights in your eyes and you've hot to be sure, that's got some real effects in the long run.
This is surely one of the major trading hazards that a trader can have in the long time because there is excess exposure of light to the eyes which is really not good for time to come. It is wise to protect the eyes
3. Over consciousness
I really ront know how to classify this but as a trader, yiu seem to be over conscious on what you could be missing at every point you aren't trading.
A trader isn't suppose to worry so much on what he is missing because that will bring pressure to the heart and it can cause it to fail. Doing trading as the only source of income is the reason , it is good to have other source of income while doing trading. |
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I dont suggest day trading. Go with monthly or long term trading. Yes day trading takes away all around you. Need to spend more money for transactions, need to pay close attention for a small profit. At times, when there is a sudden dip, you will be in great loss unless and until you have set up stop-loss. Yes, learn indicators signs and moves. Irrespective of day trade or long term trade, its needed to learn basics. Be updated with news and market moves.
Trading for a whole month may not make it interesting like a trader, you may well be called a hodler because of the long time. I think swing trading shouldn't necessarily be a thing of one month or above except you are not setting stoploss. Really you have mentioned stop loss and that means you know the importance of it and using it is more secured than not using it. Stop-losses should truly be part of a pleb's strategy to minimize loss, BUT the best traders also know that plebs like us have learned to use the stop-loss. The best traders are using a counter-strategy for it called, Stop-loss Hunting. Next time, if you experience being liquidated, or your position closed because a stop-loss was activated before a big surge causing you to miss the trade, then you have just been a victim of the stop-loss hunt. Counter - strategy you mean martingale ? Or what precisely you trying to talk on . However, being hunt by stoploss is every trader's experience depending on if the trader likes the feeling or not and that will increase the level of hardwork and better trading next time not to allow liquidity run out. |
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I dont suggest day trading. Go with monthly or long term trading. Yes day trading takes away all around you. Need to spend more money for transactions, need to pay close attention for a small profit. At times, when there is a sudden dip, you will be in great loss unless and until you have set up stop-loss. Yes, learn indicators signs and moves. Irrespective of day trade or long term trade, its needed to learn basics. Be updated with news and market moves.
Trading for a whole month may not make it interesting like a trader, you may well be called a hodler because of the long time. I think swing trading shouldn't necessarily be a thing of one month or above except you are not setting stoploss. Really you have mentioned stop loss and that means you know the importance of it and using it is more secured than not using it. |
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Thank you for your reply but What happens if most traders leave the trade to robots? Same as they prefer to sit relaxed in the car and let AI take them to their destination point?
Many altcoins projects that bring the concept of robots for trading, but it seems that it can't be 100% effective, I've tried trading with bots or robots, but there are many limitations so I prefer manual trading, if all traders submit to robots of course this will make prices are easy to predict. Bots are not easy to trade with. It doesn't really go with the market movement and sometimes I heard that the coding on bots are not really guarantee for steady profit. Most traders claim to be traders but they want to rely on bots while they go about doing other businesses believing trade is easy. |
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We need to explain very well that this a job, you can't just go to a hospital and start being a doctor, you can't go to a law office and become a lawyer. You need to study for those, why would trading be any different?
Exactly the point I've laboured to advance in time past. Honestly, it beats me hollow when people think that trading is something that can be learnt within a few hours or days while they go to college and spend four to seven years to acquire certificates to practice their so called professional courses like law, medicine, engineering, journalism, etc. Is there anything more professional than trading? Trading isn't a get rich quick scheme. It's a profession and people should pay attention to that. Those who are profitable at it will tell you that nothing is as rewarding as trading. good point, trading is not a way to get rich quick. Here, a healthy development structure is needed, in contrast to marketers who offer their products for trading to get rich quick, by displaying the luxury they have. and in the end many are disappointed. after we understand that, it would be nice to learn in theory and put it into practice, so that we will know the difficulties in trading, which of course the psychological factor will be very dominant, because in trading it doesn't matter what graduates we are from. All these are good points for someone who thinks trading is easy. A newbie has to read all those, get it to sink that trading is not just an academic exercise that you just read through and pass out from your course of discipline to be awarded your degree. In trading it is every day learning if you want to stay on the market, it is practical and not to get rich quickly. |
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Cryptocurrency trading tips for Bitcoin Cash from AZAforex
The profit can be $1200.00 if the trading volume of 100 BCH
If you start talking about profit to gain when traders are yet to have understanding on the trading then it may discourage people. Your aim is to get people to believe you if you are reputable and they develop confidence if you show them review of your platform , they can see everything by themselves to judge the platform. Profit of $1200.00 is with what capital . |
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The other possible reason could be Saudi Arabia and UAE decision to trade crude oil in Chinese Yuan which is very negative for US Dollar index. A weaker dollar is always good for Stocks and Bitcoin.
I have noticed this likewise that a weak dollar propels the stock market and bitcoin to rise. This is because more investors will prefer to hodl their assets in cryptocurrency and bitcoin and chase more dollar for buy this keeps bringing the dollar down.. What usually bring dollar back is high impact news and if it favours dollar then the trend of the market will change again, this becomes a circle and some record loses while others smile in profit. |
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Is there a possibility for what he is asking for to happen? He is visibly asking for regulation and I don't know how he intend to achieve this except he will legislate that exchange around his country or operating with his country people begin to register with KYC with the exchange. If he wants to monitor the transactions made, he would better read bitcoin white paper and understand the working.
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I learned to be a person who can control my emotions better. In some of the trades at that time I was in too much of a hurry and didn't do careful consideration, even I was easily emotional with unstable market conditions. Therefore I took it out in the trade I was running, trying to be very stupid but apparently I realized that what I was doing was actually only makes me lose and fail. And now I can learn from it and improve it.
At a time that you do everything possible to your knowledge but you never get the profit coming, I understand such and this is a real experience that you have shared. I think it is still happening in our trade but patient to trade is a little helpful. For a daily trader if we keep checking up on the trade then we can keep making hasty in the decision we take. If we trade like a game with the strategy for our trade we can do better trade. |
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