Very important tips in digital currency trading

[Reid]

These are some important tips in the area of ​​currency trading

I hope you benefit beginners in this area

First: Do not invest in any currency before studying it thoroughly and searching for it in depth

This should not be a tip anymore but a mandatory for every investor.

Second: you should always buy at the lowest possible price try to buy the currency when it decreases
To the lowest levels and avoid buying on the rise or when it is at the top of the rise
They may go down at any moment and dramatically

It varies to the situation of the market. It may look high but could also be the lowest price. What might happen is you will be FOMO and would buy after a hike.

Third: Avoid panic when the currency devaluation and do not rush to sell it because it may return
To rise again you must be very patient during trading

This goes back to number 2 factor. It will depend on the economy of crypto currencies. The quick sell could also save you from being zeroed at the end.

Fourth: Do not buy one currency with all the head of the owner, this is very dangerous, which fall
The currency will result in your loss of everything you own or a large percentage of your money

Fifth: Do not rely on a single trading platform and put all your money, but must

To rely on a range of platforms known worldwide

Put it in many basket as long as you can still handle it. There are situations where investors are getting confused into what is what. The price might get jumbled. Pick the best out of many.

[1715173695]

1715173695

[BlueStackz]

It's really a good advice you have given to us here and I think the major problem is been able to keep those tip.  I do believe that majority of us know all this point you have listed but keeping them is the really problems with investments and trading.  For example it is impossible to keep trading when you know that the market is going against you and you are lose.

The most difficult thing is the psychological control when the market starts to appear red because it will be a time when you will be very difficult to calm down and easily fall into a state of panic. I think this rule is only applicable when the market shows signs of new growth and we will make a profit if we can calm down at all times. Of course these tips are useful but for me this is not the best advice because the bear market often brings surprises to everyone.

We easily fall into panic because we do more than our power, because of the big profit we intend to cash from one single coin, we cough out from our pocket what is far more than what we can afford not to have tension on, and dump it into the market, in the name of trying to cash a bigger fish.

We will continue to be in a panic state when market becomes red if we continue to invest capital that is more than our power or what we can afford to lose, no matter how promising the coin look, if we really want to invest without looking back till future, just put in money that we can let go off, then believe me, all these panic sell and tension will disappear.

[OrangeSeller]

It's really a good advice you have given to us here and I think the major problem is been able to keep those tip.  I do believe that majority of us know all this point you have listed but keeping them is the really problems with investments and trading.  For example it is impossible to keep trading when you know that the market is going against you and you are lose.

The most difficult thing is the psychological control when the market starts to appear red because it will be a time when you will be very difficult to calm down and easily fall into a state of panic. I think this rule is only applicable when the market shows signs of new growth and we will make a profit if we can calm down at all times. Of course these tips are useful but for me this is not the best advice because the bear market often brings surprises to everyone.

We all know that there is one prerequisite for the crypto market and that is knowledge about cryptocurrency and the market. It’s history and the way the crypto market works that is the cyclical understanding of crypto market. Having all these on one’s mind, one will never bother to struggle with his or her psychological reasoning. Red is followed by the green.

[Opnsrc]

It's really a good advice you have given to us here and I think the major problem is been able to keep those tip.  I do believe that majority of us know all this point you have listed but keeping them is the really problems with investments and trading.  For example it is impossible to keep trading when you know that the market is going against you and you are lose.

The most difficult thing is the psychological control when the market starts to appear red because it will be a time when you will be very difficult to calm down and easily fall into a state of panic. I think this rule is only applicable when the market shows signs of new growth and we will make a profit if we can calm down at all times. Of course these tips are useful but for me this is not the best advice because the bear market often brings surprises to everyone.

We easily fall into panic because we do more than our power, because of the big profit we intend to cash from one single coin, we cough out from our pocket what is far more than what we can afford not to have tension on, and dump it into the market, in the name of trying to cash a bigger fish.

We will continue to be in a panic state when market becomes red if we continue to invest capital that is more than our power or what we can afford to lose, no matter how promising the coin look, if we really want to invest without looking back till future, just put in money that we can let go off, then believe me, all these panic sell and tension will disappear.

Cryptocurrency is something that we can not touch or hold in hands, therefore still, even the most devoted traders and investors are afraid to lose everything. Panic in the crypto market happens often.

[Moiyah]

It's really a good advice you have given to us here and I think the major problem is been able to keep those tip.  I do believe that majority of us know all this point you have listed but keeping them is the really problems with investments and trading.  For example it is impossible to keep trading when you know that the market is going against you and you are lose.

The most difficult thing is the psychological control when the market starts to appear red because it will be a time when you will be very difficult to calm down and easily fall into a state of panic. I think this rule is only applicable when the market shows signs of new growth and we will make a profit if we can calm down at all times. Of course these tips are useful but for me this is not the best advice because the bear market often brings surprises to everyone.

The main reason actually we havee encountered mostly is our uncontrolled emotions in trading. Greed, panic or fomo should be controlled. Proper knowledge is always there when we are supposed to enter in any kind of trading. But self controlled emotions are hard to do in real life. Set goal, set stop loss, learning technical analysis. This may help a lot in our future trades.

[JohnBitCo]

It's really a good advice you have given to us here and I think the major problem is been able to keep those tip.  I do believe that majority of us know all this point you have listed but keeping them is the really problems with investments and trading.  For example it is impossible to keep trading when you know that the market is going against you and you are lose.

The most difficult thing is the psychological control when the market starts to appear red because it will be a time when you will be very difficult to calm down and easily fall into a state of panic. I think this rule is only applicable when the market shows signs of new growth and we will make a profit if we can calm down at all times. Of course these tips are useful but for me this is not the best advice because the bear market often brings surprises to everyone.

We all know that there is one prerequisite for the crypto market and that is knowledge about cryptocurrency and the market. It’s history and the way the crypto market works that is the cyclical understanding of crypto market. Having all these on one’s mind, one will never bother to struggle with his or her psychological reasoning. Red is followed by the green.

Learning is most important thing if anyone wants to make money in crypto trading. One example of this is that many people jumped and invested in crypto at the end of 2017 when bitcoin was near all time high. If they had learnt before, they would have known when is the right time of investment in bitcoins and altcoins.

[Rufsilf]

You posted on a wrong thread mate. It should be on the trading discussion section which is obviously stated in your topic. But anyways, the most difficult part of trading is controlling your emotions. All of your decisions are affected by what you feel and decisions is very critical in terms of trading.

Exactly, decision is the most critical because if you make a right decision then a big chance that you will win but if you happen to make a wrong move or decision, it can be very stressful depending on the damage that decision has made. Also I don't advise letting you feelings or emotion decide because it's not always right, make sure facts are your basis instead of intuition.

[metalglowd]

Second: you should always buy at the lowest possible price try to buy the currency when it decreases
To the lowest levels and avoid buying on the rise or when it is at the top of the rise
They may go down at any moment and dramatically

Which is often a problem, some people still do not understand the position of the price, whether it is already in the bottom or not yet.
While the others still said, "The price is still in the bottom" then this will become disaster to them.

[Oceat]

Nice tip btw, OP but this was all a common knowledge here and every trader must have known it already. A lot of similar thread like this that I've read before and every trader must have their own unique strategy when trading since most of their trading technique doesn't really apply to most traders.

[logicgate]

Second: you should always buy at the lowest possible price try to buy the currency when it decreases
To the lowest levels and avoid buying on the rise or when it is at the top of the rise
They may go down at any moment and dramatically

Which is often a problem, some people still do not understand the position of the price, whether it is already in the bottom or not yet.
While the others still said, "The price is still in the bottom" then this will become disaster to them.

 A trader needs to understand the price at bottom and a high price but what I think is a trader should become familiar with any market condition because it helps a lot. If a trader is not familiar with it then it hurts a lot. Always think to invest your money when the market price is at bottoms and always sell out when the market price of coin is at peaks. For many traders such as the current marketers are confused due to the FOMO factor.

[udidrone]

Second: you should always buy at the lowest possible price try to buy the currency when it decreases
To the lowest levels and avoid buying on the rise or when it is at the top of the rise
They may go down at any moment and dramatically

Which is often a problem, some people still do not understand the position of the price, whether it is already in the bottom or not yet.
While the others still said, "The price is still in the bottom" then this will become disaster to them.

 A trader needs to understand the price at bottom and a high price but what I think is a trader should become familiar with any market condition because it helps a lot. If a trader is not familiar with it then it hurts a lot. Always think to invest your money when the market price is at bottoms and always sell out when the market price of coin is at peaks. For many traders such as the current marketers are confused due to the FOMO factor.

Maybe as long they can know price to buy without can understand bottom or high price and take profit, it already good. I always can't decide dip or peak of a coin. But when it pumped, usually i follow the stream. Buy some amount, and when it is increased again, i sell it.

[diazepam666]

I personally have some doubts when I go to invest in any trading exchanges. I can see very few coins are always fluctuating in the exchange and exactly to say everyday market price is keep on changing.
Are those coins are good for investment?
I want to know how to handle the the indicators available on Binance site. Are those indicators are helpful to pick the good coin?

[olamidey]

It's just common sense. Don't invest more than what you can afford to loose. Simple
Also research well before buying any token
Never leave funds in Exchange irrespective of the exchange and what it promises you.

[Denton]

You're right. These are very important rules that everyone must follow. Always when trading you need to include your head, you are responsible for all your results.

[Finestream]

It's just common sense. Don't invest more than what you can afford to loose. Simple
Also research well before buying any token
Never leave funds in Exchange irrespective of the exchange and what it promises you.

Right.Never invest on the coins you have never made a research yet.You might only end up losing your money.And as much as possible never invest using your own savings or money from loans because crypto market is very volatile,the high price right now might suddenly goes down in just an hour.In short,learn to invest what you can afford to lose.

[escalante28]

Thank you for this tips mate. These are really important rules.

I can also suggest that we must learn the fundamental analysis of trading as well as the emotions during trading.
Much better if we have a knowledge reading the basic candlesticks, not just a buy low and sell high.
For long term investment, they must also do their own research if the token or coin has a potential.

Once again thank you, hoping they will notice your post.

[dmty.0809]

It's true of your explanation. Sometimes many people panic when prices rise, they bravely dare to buy, and a few hours later the coin drops dramatically, and of course some people regret and cutloss.

[MadeinCoin]

Nice tip btw, OP but this was all a common knowledge here and every trader must have known it already. A lot of similar thread like this that I've read before and every trader must have their own unique strategy when trading since most of their trading technique doesn't really apply to most traders.

Yes right, every trader has his own strategy and sometimes does not apply to other traders, I also feel this when I imitate someone's strategy but unfortunately the strategy fails even though the strategy is exactly the same.
Well here I started to study harder and get my own strategy, which fits my trade because everyone has a different way of trading.

[maydna]

It's true of your explanation. Sometimes many people panic when prices rise, they bravely dare to buy, and a few hours later the coin drops dramatically, and of course some people regret and cutloss.

That will make them get more panic because if their order buy cannot fill in that time, they will cancel and place the other buy in the other price places. That will too risky for them because they will buy at a high price, especially if there is a pump that is happening in the next minutes.

Besides that, it will cause more panic and stress if the price drops drastically after they bought the coins. They will decide to cut loss and sell the coin before the price is down too deep and they will buy again at a lower price. If you do like that, I think you will hard to make a profit because you want to make scalping trade, but you don't know the price to enter the traded.

[guoyu78]

It's really a good advice you have given to us here and I think the major problem is been able to keep those tip.  I do believe that majority of us know all this point you have listed but keeping them is the really problems with investments and trading.  For example it is impossible to keep trading when you know that the market is going against you and you are lose.

The most difficult thing is the psychological control when the market starts to appear red because it will be a time when you will be very difficult to calm down and easily fall into a state of panic. I think this rule is only applicable when the market shows signs of new growth and we will make a profit if we can calm down at all times. Of course these tips are useful but for me this is not the best advice because the bear market often brings surprises to everyone.

The main reason actually we have encountered mostly is our uncontrolled emotions in trading. Greed, panic or fomo should be controlled. Proper knowledge is always there when we are supposed to enter in any kind of trading. But self controlled emotions are hard to do in real life. Set goal, set stop loss, learning technical analysis. This may help a lot in our future trades.

It is undoubtedly true that the three tactics you mentioned here will sure guarantee a trader of success when they practice it. People really too lazy to learn technical analysis which is why they fall victim of trade guessing.

I can tell you that 50 percent of traders don’t apply any technical analyses, most of them enter trade with emotion, and they believe that whatever steps they take at that moment will favor them, which they fail to accept the fact that the market they are trading is one that cannot be ever predicted and being manipulated by so many factors which only proper analysis can lead them to the right direction that will make their trade very fruitful.