The first risk will be the volatility of crypto is very high, the price can be crash more than 20% just afew hours and can be going down 90% in amonth. Second risk is hacking and fraud. So make sure you only put money that willing to loss in cryptocurrency. But with high risk also will be offer high profit like 10 times profit just in amonth or 100 times profit just in ayears.
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I think only about 5% of trader possible made profit from current situation of crypto market, and others 95% is loss loss money, iam one of the trader that loss alof of money. But this loss can be recover when next bull market coming, i still hold all my coin untill others bullish come, and i pretty sure bull market is will be coming soon.
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Yes this price beyond my prediction, and the price keep down. But i still believe Ethereum have good future and Ethereum still become the strongest altcoin, this coin will be keep become the most popular altcoin that has highest market cap. ETH still possible going up to the $1200 later.
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I bought ETH by price $800 and now i still holding that, because i believe future of crypto. I remember a few years ago i made mistake by sell crypto in downtrend price but afew month later the price bull run and going up to 30 times just in 4 month. Never sell crypto now because you will loss much, and you will missing big profit later.
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I think all trader should be never forget to use stop loss and trailling stop to avoid loss, because we know the price of crypto can be dumped hard just a few hours. Learn more about dicipline in trading like patient wait for best price when buy and sell. Patient and always manage the emotion is main key to get profit by consistent.
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Whales controled the market and they make big impact to the crypto market, they should be push the price up to multiple times so they and others trader will make more profit . They should be make good thing for better crypto ecosystem.
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Price of ETH now is the lowest price since beginning of this year, the price keep down and i think this is because so many bad thing in crypto space. Issue of regulation, price manipulation and scalability issue make many trader to taken decision to sell it.
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In trading we have possibility to make monthly consistent profit by use risk management and trading plan, but in gambling is not possible to make it. There are many trader can changed their life and reached financial freedom but no one gambler can make it.
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This is apart of crypto ecosystem, company of exchanges also need money to give salary to the their staf and to expand their business. Listing fee also will increasing number of new exchanges and they will to be give better service to the customer.
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You can make it only in bull market, but in bearish trend is very hard to make it. In bull market we can make target profit 300% amonth, and in bearish trend we should move all profit and capital to others asset because as we know when bearish trend, all crypto will going down.
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I think the high fluctuacion of crypto is more risk because we can loss more than 50% just a few hours, to avoid hack we can increase the security by turn on all feature of security. That why we have to lock profit in to fiat whenever we get some profit.
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I think trading bot make open potition according to history of the price and trading volume of the coins, and we can do that by manually. I never try trading by use bot but i know that will be profitable or not usually depend on the quality and the price of that each bot.
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Crypto market is different with others market, when Bitcoin bearish so mostly all altcoin will follow it. On bearish we should be quit from the crypto market and put the money in to others opportunity, there are many others optional to make money by trading online like in forex, stocks, commodities, Bond or binary option trading. All this kind trading online has the same level risk, so we have to manage the level risk to be lower.
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1Broker is one of the one broker that offer copy trading, personally i dont try it yet, but i have seen the portfolio of the trader that mention in that broker can be changed, so that mean they does not earn profit by consistently. I prefer to do trading by self so i will know what my mistake and i can learn it more. If you have less times for trading, you can do swing trading that consuming alittle bit times.
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The time to start hold Bitcoin should be accroding to the level price, if the price was going down more than 70% is good to start to hold it, and if the price all the times high is better to use it for short trading. For now the best thing to do to earn more profit is hold BTC 50% and other 50% trade with others altcoin to maximize the amount of the BTC.
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Use Margin in crypto trading is not recommended for newbie because the level risk will be higher. Use margin in crypto similar betting or gambling so will be more difficult to get consistent profit from it. For the better dont use margin in crypto trading to avoid big loss.
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To make money in crypto we should be look more in to fundamental of the coins, because this thing will make the price keep going up. There are many coins that the price under $0.5 which has potential to going up to 10 times later, like XLM, DOGE, ADA, XRP.
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No body can make profit when crypto market drop, the best thing to do when the price falling is wait patient to get bottomed price. When we got the bottomed will be easy to make bigger profit. Good psycology of waiting is needed in crypto trading.
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So far iam never panic when the price keep going down because i always using stop loss so my open potition automatcly close when the price going down. My mistake in trading is less patient when buy any coin to get best price, sometimes i was panic buy when the price pumping and with stop loss i can reduce the risk incase the price reversal.
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To increasing skill in trading you have to learn more about price action of crypto by to see history of the price we can determine support and resistance area. All analysis and prediction in trading will be never 100% accurate so we should be have risk management by use stop loss after bought any coin.
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