A good advice for every traders.

[krayzie32]

Thanks for sharing your experience you have suggested very good points and most important to me is your 3rd point to take profit and and stop losing any further.

Best of luck.

that is how a non greedy trader does,to keep profiting because the most problem of the investors is looking for higher profit even when market is starting to fall back.

also i wanna thank OP for this share as well because traders needs advise,either Old trader and New trader because sometimes when we are often in trading we are forgetting some rules that needed to be reminded to us.

Most newcomers are very greedy when investing in this market but after that time they will have more thoughts on this market. I think anyone is greedy and this is inevitable when participating. However, if you have an effective investment strategy, you should apply and always set the price to sell after buying to ensure profit. Of course, I not sure if this will help or not but this is my way to avoid greed in this market.

[1715362569]

1715362569

[1715362569]

1715362569

[yarlungzangbo]

Recently, i am thinking how to mange the risk, this is the link about my thought. It may can help you

https://bitcointalk.org/index.php?topic=5249994.msg54473638#msg54473638

[roman100]

Good traders make decisions with relative ease because they understand their rules and what they are trading and looking for in the market. Their commitment to their trading plan and process is unshakable. The trader is a person who buys and sells financial instruments  in a financial trading market.

[BD Money365]

I execute it every day. I am in addition a newcomer at this time and I desire to trade enhance after a hardly any months as a result I sure to chart the directives of the before ones. They narrate you to hold on to a make a recording of your transactions every day for a round reason. at what time you lose, you calm down state to look after it therefore after 3 months, you will hold great to convert and take in someplace you went wrong. Besides, pleasing annotations shows that you are a considerably closely controlled anyone and it will set up a habit, it will get into you worship your happen as expected new and it will before long make up you added professional.

[KrisAlex18]

Thanks for the list of advice mate, it is really different from other common advice from other people here. We have different ways to win the trading but actually those ways are not 100% sure win because there is no 100% in terms of trading as well as the gambling and the investing. It will only lessen the possibility of losing your money. If you have content on some of your ways, just continue doing it, and if you find out that those ways are not working anymore try to change some of your plans and strategies to learn more and try new techniques.

I'm expecting to read a bit of repetitive advice here such as risk an amount you afford to lose, patience, don't put all eggs in one basket , etc. but those mentioned by the OP are by far do have sense compare to other threads created before which just stated obvious and common advice.

That's right, those advice ar every common to all of us, those are very familiar to us in terms of testing, the good thing is that there are other advice that the OP has given which is really good.

[Raflesia]

Thanks for the list of advice mate, it is really different from other common advice from other people here. We have different ways to win the trading but actually those ways are not 100% sure win because there is no 100% in terms of trading as well as the gambling and the investing. It will only lessen the possibility of losing your money. If you have content on some of your ways, just continue doing it, and if you find out that those ways are not working anymore try to change some of your plans and strategies to learn more and try new techniques.

Every thing we do in trading and investing and gambling is always done with the strategies we use, including in the trades that we discuss, all also have their respective techniques so that what we learn will make us profit in trading at least our target 30 % for profit then I think that's pretty good in trading.

All is not free from risk but we must be able to rebuild after we fall what we have done.

[tvplus006]

The main step should be traveled by beginners.

There are several steps that must be traveled by people who want to earn money in the field of digital currency
-Study Vigorous
-Approaching people who are experienced
-Dare in action
-Do not get tired
-Patience in waiting for success.

Trading depends on many factors that are not listed. We can't be outside of society, so it will still influence decision-making. Your wife's dissatisfaction with you may be sufficient to make a wrong decision in trading. So a lot depends on how we respond to difficulties that are not related to trade.

[yarlungzangbo]

The main step should be traveled by beginners.

There are several steps that must be traveled by people who want to earn money in the field of digital currency
-Study Vigorous
-Approaching people who are experienced
-Dare in action
-Do not get tired
-Patience in waiting for success.

Trading depends on many factors that are not listed. We can't be outside of society, so it will still influence decision-making. Your wife's dissatisfaction with you may be sufficient to make a wrong decision in trading. So a lot depends on how we respond to difficulties that are not related to trade.

Yes, i am agree with you

Seems you have unforgettable experience bro

[MCobian]

Of course, every trader must be afraid to experience a loss, even though the loss must be brave we face. Therefore learn more
regarding trading strategies, in order to improve our ability to trade and that can help us not to experience losses. Then the advice
that was mentioned in the opening post is good to understand so that every trader can avoid losses, and can produce maximum profit too.

[Piston]

Good traders make decisions with relative ease because they understand their rules and what they are trading and looking for in the market. Their commitment to their trading plan and process is unshakable. They do not let other people's opinions affect their judgment. They've learned to trust their own. many traders will lose money and it can't be avoided. All sorts of reasons are given for the losses, including poor money management, bad timing, or a poor strategy.

[farukahmed]

Trader is a person who buys and sells financial instruments  in a financial market. Traders may trade for themselves, on behalf of the institution they work for or on behalf of a client, acting as an intermediary between the client and a market maker. The most important thing single biggest reason why most traders fail to make money when trading the stock the market lack of knowledge.

[azmirihaque]

Usually, we are trading with market, and we have our own trading logic. But , after you are trading for a long time , you will find you are trading with yourself and the biggest enemy is you.

You may have a good trading logic , and you always earning money from the market , but you are still afraid of lossing, am i right?

Every trader should believe in his own trading logic just like a belief, you can't move it. Lossing are not terrible and you should like it.

So i have some advices:

1. make sure you are believe in your trading logic
2. record the reason when you open trade
3. take profit and stop loss strictly
4. back to the records when you close trade, and think why you are earning or lossing
5. according to the records , if you find something wrong with your trading logic, fix it
6. add your trade into a trade journal (advice from @GreatArkansas)
7. do the things 1-6 above again


Does any trader record the reason of opening trade? And how do you guys practice it? Let's talk about it.

Every trader has its own trading policy. As a real trader, he should be analytical on his own trade. Your advice is the part of this analytical process. Many traders engage in trader in a belief that their investment will give them lot of profit but after some days they loss their capital. Because they enter only the market without knowing the rules, policies and trends of the market. So, strategy is very much important for trade and every trader should have the ability to outline his own trading strategy.

[yarlungzangbo]

Usually, we are trading with market, and we have our own trading logic. But , after you are trading for a long time , you will find you are trading with yourself and the biggest enemy is you.

You may have a good trading logic , and you always earning money from the market , but you are still afraid of lossing, am i right?

Every trader should believe in his own trading logic just like a belief, you can't move it. Lossing are not terrible and you should like it.

So i have some advices:

1. make sure you are believe in your trading logic
2. record the reason when you open trade
3. take profit and stop loss strictly
4. back to the records when you close trade, and think why you are earning or lossing
5. according to the records , if you find something wrong with your trading logic, fix it
6. add your trade into a trade journal (advice from @GreatArkansas)
7. do the things 1-6 above again


Does any trader record the reason of opening trade? And how do you guys practice it? Let's talk about it.

Every trader has its own trading policy. As a real trader, he should be analytical on his own trade. Your advice is the part of this analytical process. Many traders engage in trader in a belief that their investment will give them lot of profit but after some days they loss their capital. Because they enter only the market without knowing the rules, policies and trends of the market. So, strategy is very much important for trade and every trader should have the ability to outline his own trading strategy.

Ya, so that why so many people want to become a quantitative trader

[pragna]

I think no need to written record, as a trader when we did mistakes that's our main record into mind. Next time when we did trading our memory give signal every time. Yes those are new to trading they can follow your rules and i think it will give benefit for them. Finally a man who trade more and more will be experienced person and mistakes will be lower.

[EmpowNetwork]

"3. take profit and stop loss strictly"
I think that's just a theory. Easy to say but how many people can do it?

[Jateng]

Sometimes you should listen to the analysis of others and from that you can either make you own analysis or add some analysis so its safe where you gonna enter or exit. Recording of your trade decision makes someone confident about trading, some people forget why they enter or exit. Emotion is very important and patience in every trading decision.

[Lorence.xD]

Sometimes you should listen to the analysis of others and from that you can either make you own analysis or add some analysis so its safe where you gonna enter or exit. Recording of your trade decision makes someone confident about trading, some people forget why they enter or exit. Emotion is very important and patience in every trading decision.

Most of the technical advices have been and I am glad that the quote above mentioned that emotion plays a role when trading, it might not look that much but I think mentality is something that we should fortify because there will hardships in trading that will break you down physically and mentally which is worse than the latter. My advice is more on practical so it might help some, and some might disagree and I am open to ideas just like others.

• Safety net- create a cushion for yourself when you are trading, remember to have emergency funds for the times when you experience losses, this safety is not for trading but for your daily sustenance when you are experiencing loss, it is advised that a 3-6 months worth of emergency is needed for insurance but if you do not want to you can set how many months of emergency funds you need.
• Side Hustle- do not put all of your time in trading, do other things that you can earn, if you have other skills that can be utilized as a free-lancer, or better yet is have a job or if you have a job when you are trading then do not quit yet because you are still starting to trade so this pretty much goes back to the first advice.
• Avoid debts(if you can)- debts is the greatest enemy of people who wants to become financially secure, but I disagree with that because if you know where to borrow money then you can use that as an advantage, one example is credit cards, you can get one and spend a portion of it and make sure that you can pay that spent portion when the credit is due, and that routine on time payment will earn you a credit score, which helps you in the long term, when you want to apply for loans and you have a positive credit score then the process will be at ease, it has no connection to the trading advice that I have given above but I might as well share this because we can use this to benefit from it.

[Dr.Osh]

Sometimes you should listen to the analysis of others and from that you can either make you own analysis or add some analysis so its safe where you gonna enter or exit. Recording of your trade decision makes someone confident about trading, some people forget why they enter or exit. Emotion is very important and patience in every trading decision.

in addition to conducting analysis, the spread is also another important factor. so far, many people have done an analysis of price movements. however, not many are patients, and some people write on their social media walls that they regret not being patient.
be patient, and having information is very important in trading.

[Naida_BR]

Sometimes you should listen to the analysis of others and from that you can either make you own analysis or add some analysis so its safe where you gonna enter or exit. Recording of your trade decision makes someone confident about trading, some people forget why they enter or exit. Emotion is very important and patience in every trading decision.

I usually try not to hear others analysis.
I did once and I was forced to buy a coin that was not profitable and I wouldn't buy it if I didn't listen to this stupid analysis. There are a lot of people who give false info in order to pump coins for their own benefits.

[yarlungzangbo]

Sometimes you should listen to the analysis of others and from that you can either make you own analysis or add some analysis so its safe where you gonna enter or exit. Recording of your trade decision makes someone confident about trading, some people forget why they enter or exit. Emotion is very important and patience in every trading decision.

I usually try not to hear others analysis.
I did once and I was forced to buy a coin that was not profitable and I wouldn't buy it if I didn't listen to this stupid analysis. There are a lot of people who give false info in order to pump coins for their own benefits.

Yeah, don't buy it just because someone said buy