Controlling our emotions is crucial in trading. We have to be prepared for worst case scenario as losing money is part of the business . We cannot win all the time but cannot lose that much we cannot recover and learn even more from our mistakes and turn it to our benefit if we analyse them and make corrections.
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Exit strategy is as much important as entry. Buy on dip and sell on peak. But we do not know exactly when is dip and when peak is. This is why dividing our investment into smaller portions is important to be able to invest second portion if the price further decrease and average the trading entry price. And if we decide to sell do not sell all the coins at once as trend can change and You will regret it as You never see that low price again. Anyway, we have to split the discussion between highly risky shitcoins and coins which we are analysing and trusting , as different trading strategy should apply to them.
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Holding is more risky than Trading in some situations as traders can react on changes on the market Holding coins out of TOP 100 is especially risky as they can go to zero and the investment can be lost. It can happen to Top coins as well but traders will not allow to lose all their investment as they are using stop loss strategy. When the market is bearish like we have now it is risky to hold and waiting for the trend to change, as some coins will not recover.
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You started trading last May when it was a parabolic rise on the market for many coins and the whole market was booming until mid January this Year. I do not think Your loss is coming from that period. You have to stop trading immediately and analyse and try to understand what happened? Where is this loss coming from, learn on mistakes and there are good chances to recover and become a good trader.
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We all have emotions and when I started trading I could not easily accept losses and mistakes and felt very poor when it happened. When we have predefined trading strategy and we stick to it and making independent decisions and focusing on profit can help us to control our emotions and accept losses as a normal part of the business.
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I exchanged BTC and ETH face to face several times but only with friends and with people I know. Some of them are mining and do not familiar with Exchanges and do not want to pay the fees etc. And also some friends wanted to buy Bitcoin and ETH and were not educated that time to do it themselves, so I helped them.
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There is often pre-sale and private sale before ICO sale starts. On these private sales the price is sometimes 50-70 % cheaper than than ICO price as a bonus for early investors. Some investors also dumps their tokens when it enter the market as they bought them even 70% cheaper. Bounty hunters, Airdrop holders usually dump their tokens as well . Knowing this it is not surprising that the price of the tokens drop after they were listed. It is a good strategy to wait for it and get some really cheap prices.
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Best time to exit is when You reach Your profit target. Ideally it is on the peak, but life is not ideal. Never regret if exit was not ideal if Your exit strategy was based on research and analysis and predefined profit target. Learning from mistakes is part of the game.
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Both strategies are good and applicable but which one to use and when depends on market conditions. If the market is fluctuating 5-10 % daily or more it is suitable for day trading . Sometimes in bull market it is more beneficial simple holding than trading. Which strategy to use depends on many factors and defers from one situation to another.
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If You want to become an independent trader it is much beneficial if You do Your own research and analysis. If You are only following others You will never learn trading and have enough experience to make Your own decisions.
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The amount necessary for trading depends on Your experience. It is better to start with small amounts like 100$ and later on when You got some practice You will feel with how big amount are You confident with. Never invest money You cannot afford to lose.
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A successful trader is experienced enough to make independent decisions . Analysing the market, having his own strategy and executing it with discipline. Learning all the time and correcting his behaviour if necessary.
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Main reasons people not investing in Crypto is lack of knowledge, they do not know understand what is it about and they fear of something new . Other reason is that Crypto market is volatile and it is a risky investment as it can go to zero. Investments like to be on secure places and Crypto is not that kind of place if You are not a believer.
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Only a stupid trader do not learn from his mistakes. When You lose money You have to analyse what went wrong . Try to forget about the loss as You know that everything is happening with reason. Make changes, set a new strategy , stick to it and execute it with discipline.
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I used to arbitrage trading with some smaller coins . My biggest issue was trading volume and confirmation time. You have to be quick and calculating fast as You have to close Your trades at the same time with profit. I have recently found in the WP of a new project HQ some interesting staff about arbitrage trading with bots.
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50$ for profit is possible with day trading if you have trading experience . With a good entry point with some luck everybody can do it, but consistently only well experienced traders. It is a risky business as market will not always be in Your favour, sometimes You win and sometimes You lose with day trading.
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Ako ne ove ali sledeće godine sigurno će Evropska Unija izaći sa jasnim predlogom za oporezivanje Crypto valuta. Tada vie neće biti dvoumice kako se to radi. Zakoni će biti jasni i svako će se pridravati po svojoj savesti.
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Join @CryptoCoinArbitrage
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A Crypto mint blokklanc technológia megállíthatatlan. Rengeteg már aktív es jól működő projekt megy át erre a technológiára. A szabályozásokat pedig azok erőltetik akik kicsit lekéstek és most biztosítsák hogy olcsóbban jussonak hozzá
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Ljudi su malo depresivni zbog deavanja na Crypto sceni. Svako jutro kada ustanu vide samo crvenu boju. Treba znati biće jo ovde zelene boje i procvetace. Zima je jo
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