Just like gambling, there’s a lot of suicide cases with regards to trading especially those who lose a lot of money so its also important to build yourself and control your emotion positively because, in trading, everything is possible.
Handling your emotion is one of the most important things that you need to learn in trading because the market can make you panic if you don’t have self-control and you might act negatively if you don’t have it. I also suggest staying healthy and don’t focus too much on the market, you have to balance your life.
You're favorable. Should not be disturbed at all. There is certainly no wealth enormous than life. Those who have health threats are better off keeping up away from trading. Or if there is loss then death can be due to stress. Trading should be committed only when the endurance is at an extreme phase. And please be healthy. |
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In trading, everyone expects to buy low and sells high. I believe that it is common thinking for all and we all want to gain some profit from trading. Strategy will not same except it. Other things can be different but expecting Profit from buying will be same as I believe.
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BNB market cap is going up everyday and the total volume is getting bigger. CZ is continuously promoting it and the new projects are coming. So the growth will be high definitely. Still it is in top three and we can consider it as the king of all coins and hopefully more projects will be coming through using bsc network. Then it will be easy to cross ETH too.
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Got in a discussion with a friend that recently started learning Technical Analysis and then he said he trades without using stop Loss. I told him no good trader trades without stop Loss. I tried to explain to him about the volatility and how trades can go against you especially as a newbie and you can lose heavily. He seems adamant and I decided to leave him maybe he will learn from his own mistake if it happens. It seems there are also many traders that trade without stop Loss and I wonder how they do it conveniently.
Please share your views on how important stop Loss is and how convenient it can be to trade without stop loss.
You are TRUE that he will learn from his own mistakes. You should have explained it to him and you fulfilled it. You have nothing else to do here. Many people want to understand this issue and many do not. In my sentiment, just as a tortoise hides under its hard shell when it detects a problem, so does a stop loss to me. Stop Loss acts as a safeguard in our trading. If there is a loss and no stop loss is imposed then it is entirely over. Conceivably most people can't withstand it. |
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Exactly, whenever I hold my funds with big amount, I can't hold all. Most of the time, it used for my daily needs though I tried to secure that but ultimately I can't. Other expenses also responsible for this. It is a matter of sorrow that I can't fullfiled but I can say that atleast I try everytime. Hopefully that trying can be beneficial for me one day.
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What are your picks?
I simply go to Coinmarketcap and take a look on top listed tokens or coins for making further investment. Currently, my picks will be BNB, ETH, DOT, AMPL, SXP. Those three can be blast anytime. Already ETH and BNB are showing their power. SXP can be seen in the next week hopefully. DOT and AMPL is for long term investment. You can research my picks too. Hopefully it will work for you. |
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I want to ask for some long term hodler or altcoin gem hunter there.
Are you considering having a stop loss for every altcoin you bought for long term?
Like for example. You buy this coin x at $3 but the price dumped, and just like trading, do you still put stop loss or cut loss?
Like you will sell the coin once the price reach $1?
Till now, I don't use any stop loss because I expect a goal from where I invested. If I need to wait to fullfill it then basically I wait till then. I rarely use my funds for short term. I always prefer long term investment and I don't use any stop loss for it. Because market can retest then for using stop loss my requirements will not be fullfiled. That's why, I don't use any stop loss for long term gem. |
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It depends on you that on what purpose you want to use it. You can hold it for your future and your next generation but the hold is not so easy. If you can maintain your wallet perfectly and make the way of reaching to your future kids after your death or absence yours. But in maximum time it is riskier to handle this and there is no guarantee that your kids can control it like you.
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Yep, of course, holding is not an easy task. Even trading is not simple. Hold, of course, we do for a long duration. This is the time we spend in a state of anxiety. It is not apparent to announce when the market circumstance is. Many times it is glimpsed that it is not going to be sold when it is needed. Furthermore, even if the price is high, there is no route to sell. Many periods the price of the coin never goes up again. All in all, one has to handle a dilemma. So literally holding is not an easy thing.
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Everyone's strategy may be the same in one means or another: buy low and sell high. But I don't assume everyone interprets that. And whether everyone's strategy is the same or not, everyone's purpose is to bring about a profit. So let's make a profit in a decent direction. Even if the strategy is not one, if it is profitable, it is nice for one's intellect. And even if it is a profit, what is the fault !!!
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Trading requires a lot of patience. Many ups and downs are traded. Occasionally a very good situation and sometimes a very bad situation has to be confronted. It is desirable to endorse everything normally. You should not beat back from trading after a bad condition or during a bad condition. Above all, you have to operate from the stick in your trading plan.
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TyI haven't any bad pieces of advice regarding Bitcoin but have a big problem dealing with bitcoin that our government restricted it yet and there are no chances to accept it soon. So it is my big and bad experience in Bitcoin.
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There is no doubt from my end about BNB which is a true gem for me. I already made some profit from this bull run. Still BNB is carrying the potential which make $1000 in a very short time. Maybe we will be seeing new ATH soon. To reach $1k is a matter of time for BNB as per my research.
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Obvious along with bitcoin all online platforms are safe for people during the pandemic. People can work from home and buy or sell their needs it is very special that one can continue his job in the home and it helps the economy vastly. We can't control the pandemic but we can try to reduce the effect of it so it is a big opportunity to stay at the home and continue existence.
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Government can't control crypto because it is a decentralized system it can't operate from one place and can't make any difference to change one place flow of money. Government can minimize their people's investment by giving them restrictions. It is for some time because people will never stop using it and the system can't stop by anyone.
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Well, I am sorry but I think the reason why the trading platforms downloads are higher than the social media is that social media has been installed already on their phones. And the one that you saw was the list of the frequently installed apps these days. Meaning to say that, the fact that social media are still part of most downloaded even when it’s already installed on most of the phones means social media are still the mainstream. Instead of following them on Titok, Twitter and Facebook, just make your analysis is far better than them.
Hmm, I furthermore assume so. Currently, most of the social media apps are installed on mobile phones. If you prefer to measure the download, then the number of trading apps will be better, because they are not pre-installed. Nevertheless, it cannot be announced that trading is popular on social media. |
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In my feeling, there is no usefulness to running it. Because even if you inquire about it, no good outcome will move toward it. When it comes to being a failure, you should go behind and learn about trading differently. No one gets abundant overnight in trading, so you have to be patient and struggle.
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Although cryptocurrency is banned in Bangladesh, it is becoming popular among young people day by day. Now many people in Bangladesh are using cryptocurrency. However, since the use of cryptocurrency is a crime here, sometimes the police arrest someone.
Bangladesh is a populous country. There are a lot of educated unemployed people here. Cryptocurrency can create some workplaces here. But because of the crypto ban, that opportunity is not being created.
How long will the Bangladesh government lag behind where the world is moving forward? I hope crypto will be legalized in Bangladesh soon.
I thoroughly agree with you because the unemployment rate is high in Bangladesh. As a result, unethical activities are improving day by day and there is no backwardness in corruption. So if the Bangladesh government legalizes any digital currency or bitcoin then the unemployed will provide a chance to do a chore. The government of Bangladesh is good at this. |
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Many people are still unfamiliar with Bitcoin. Their life but not squeezed. They are moving and will move without reluctance. But those who were connected to it had dilemmas. But now it is being investigated that those who do not have to add with it are not having any crisis in their life and they are involved in exploiting other techniques that they have.
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Yep of course it is a simple technique. Still it is not that there is no other technique without this strategy. Everyone has their own strategy. However, many have become millionaires using this simple technique. Furthermore, anyone has attained a lot with his own procedure. It depends wholly on yourself. However, in all prosecutions, the market research must be maintained.
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