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Author Topic: Safety first before trading  (Read 174 times)
christian07
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December 16, 2019, 06:09:37 PM
 #1

There's a lot of topics,news,trading and more that related with scam or hack still i think if your knowledgeable about where you risk then you will not experience like that so i recommend to study or search before doing trading here in crypto world then there's a lot of ways to avoid that like save or hold your btc,alts,tokens in your trusted wallets,Moreover read the news below because you can learn a lot by this like how to trade safely

https://cointelegraph.com/news/4-things-you-must-know-before-trading-bitcoin-and-cryptocurrency/amp

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December 16, 2019, 06:38:38 PM
 #2

Mentioning this article main points.
-Market capitalization
-Trading Volume
-Stop-losses and taking profits
-Safely storing up your cryptocurrency.

These are common things to consider before diving into a particular coin but there are still some fellas
that do risk out on small cap ones and doesnt even use up SL and TP most of the time.It'll vary on each
trader preference on where he do make out some profits.

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December 16, 2019, 06:39:47 PM
Last edit: December 16, 2019, 06:52:15 PM by target
 #3

Low trading volume of a coin is a sign of a nearly dead coin and it could possibly be the reason why its has low volume in a daily basis but its probably not the case for some old coins which are only manipulated by holders with stashes of it.  

There were new coins with low volume, not far from being a dying coin since its just started and I'm watching it for months because I tried to see how wild the price can be. Noah Coin is created by a team intended for the remittances related to my country and Japan, great coin but low volume but are promoted by celebrities in the country.

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December 16, 2019, 06:48:19 PM
 #4

If this was an article about "how to trade in the crypto market" then this will be one of the worst things for a newbie to read on it. Market cap and trading volume isn't even one of the basic things you need for analyzing a trade and stop losses and target prices is something you should have to learn after you have known the basics because you won't really know how to use it if you don't even know how to earn in the crypto industry. Aside from how to analyze a price chart in the crypto industry I think it is important to talk about before entering the crypto market is the crypto exchange where you want to trade in, since not all crypto exchanges are trustworthy both for your money as well as the information they are giving so I think this should be included in the article.

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December 16, 2019, 09:28:40 PM
Merited by Trela (1)
 #5

I expected something new, but it turns out that this is just another click bait article.

Market capitalisation?  Many of us got burned using this trading strategy, most of the low cap projects also suffer from this worsening market conditions. Stop-Loss? We have heard this many times before so I do hope that new traders learn this or at least 'experiment' how to used this one. I'm sorry but is just a rehearse of thousands of articles floating around.

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December 16, 2019, 09:39:02 PM
 #6

You should also not be using a set percentage below your entry to determine where to place a stop loss, but rather determine it from how much money you're willing to risk compared to your position size. You can use a closer stop and a large order if you're confident that the price is going in the direction you've determined it to, or a far away stop with a smaller position if you're less certain while risking the same amount of money in both circumstances when done correctly. Make sure your analysis agrees with your stop placements as well, and like the article mentions, don't place stops in obvious places because previous lows and highs are often overrun for liquidity because people like to place their stops near these two points.
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December 16, 2019, 11:10:17 PM
 #7

Well, safety tips mentioned in that article are the common advice we see or read on many other articles and every trader should know it. I don't recommend storing your coin/token to an exchange, I only transfer them to it if I'm ready to trade/sell it. We must knowledgeable indeed in keeping our assets, use trusted and legitimate third-party apps and websites only, always check that you are visiting the official sites and avoid phishing links.



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December 17, 2019, 12:17:36 AM
 #8

We do study a lot before deciding to do a real time trades, right? But not every traders know about Market Capitalization. For newbies, we have to take a look at coin's Market Cap. It indicates and represents the size of the company and how well the coin is doing with the market.
For some instances, stop loss should never ignore to execute in every trades as it will help our trading to lessen the possible huge loss and save us up from sudden changes or sideways.

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Hippocrypto
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December 17, 2019, 01:37:44 AM
 #9

We do study a lot before deciding to do a real time trades, right? But not every traders know about Market Capitalization. For newbies, we have to take a look at coin's Market Cap. It indicates and represents the size of the company and how well the coin is doing with the market.
For some instances, stop loss should never ignore to execute in every trades as it will help our trading to lessen the possible huge loss and save us up from sudden changes or sideways.

Even if you're dealing with trading seriously, taking all sorts of steps before reaching up your goals, you can't prevent those challenges in trading. Everything will be more stressful and crucial, for everybody. That's the essence of doing cryptocurrency trading, and all of us knows how risky it was. All of those is worth rewarding, as you particularly ensure the safety of our funds and of course you should only do trading when you needed; avoid storing funds at exchange sites in order to avoid being compromised.

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LbtalkL
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December 17, 2019, 02:40:06 AM
 #10

Stop-loss is really helpful but some exchanges do not have that feature and you need to manually monitor and sell or cancel your orders, the solution is simple to leave that exchange and transfer to a decent exchange having that feature with good volume but the problem is not all coins are available in all exchanges. This is a common mistake of a trader, not setting a stop loss, back on 2017 I guess I sell a coin in 50% loss a very bad mistake and will not do it again.  Cheesy

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December 17, 2019, 02:50:45 AM
 #11

I expected something new, but it turns out that this is just another click bait article.

Market capitalisation?  Many of us got burned using this trading strategy, most of the low cap projects also suffer from this worsening market conditions. Stop-Loss? We have heard this many times before so I do hope that new traders learn this or at least 'experiment' how to used this one. I'm sorry but is just a rehearse of thousands of articles floating around.

Actually, there's nothing new presented on the article. Those are generic things to consider in trading. But if you will immerse yourself in a particular coin for trading, there are a lot more to consider and it varies from one coin to another. In other words, you should not blindly go to trading without any weapon on hand at the very least.

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December 17, 2019, 03:30:59 AM
 #12

Actually, there's nothing new presented on the article. Those are generic things to consider in trading. But if you will immerse yourself in a particular coin for trading, there are a lot more to consider and it varies from one coin to another. In other words, you should not blindly go to trading without any weapon on hand at the very least.
Well, the article is a general guide for beginners entering the BTC or crypto market. Plus, I doubt anyone would actually not know WHERE they should enter or what market they want to enter since that is one of the prerequisites as a beginner trader to determine first. But really, I was kinda disappointed the article didn't include that losses are unavoidable. Like, accepting them first hand before entering trading is a must, since the more you deny or the more you try avoiding them, the fewer profits you could actually gain later on.

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silversurfer1958
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December 17, 2019, 04:33:29 AM
 #13

There's a lot of topics,news,trading and more that related with scam or hack still i think if your knowledgeable about where you risk then you will not experience like that so i recommend to study or search before doing trading here in crypto world then there's a lot of ways to avoid that like save or hold your btc,alts,tokens in your trusted wallets,Moreover read the news below because you can learn a lot by this like how to trade safely

https://cointelegraph.com/news/4-things-you-must-know-before-trading-bitcoin-and-cryptocurrency/amp

I realize that there are many exchanges that meet these criteria, but they are still deceptive. IDAX is an example because you can see that its volume is quite high and has lots of good trading features, stoploss and limit price, ... I'm quite happy with this exchange but I was completely stunned. fever to know the CEO stole more than $ 200m of investors and fled. so we not only analyze the 4 things above, but we also have to look at their community and the support of the support team. That proves that they are a professional team or not.

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December 17, 2019, 06:02:20 AM
 #14

Actually, there's nothing new presented on the article. Those are generic things to consider in trading. But if you will immerse yourself in a particular coin for trading, there are a lot more to consider and it varies from one coin to another. In other words, you should not blindly go to trading without any weapon on hand at the very least.
Well, the article is a general guide for beginners entering the BTC or crypto market. Plus, I doubt anyone would actually not know WHERE they should enter or what market they want to enter since that is one of the prerequisites as a beginner trader to determine first. But really, I was kinda disappointed the article didn't include that losses are unavoidable. Like, accepting them first hand before entering trading is a must, since the more you deny or the more you try avoiding them, the fewer profits you could actually gain later on.
Loss are inevitable but we can minimize our losses. Newbies should focus on risk management, there is a saying that it is ok to loss small but to lose big is not ok. Mistakes are good thing but make sure that we can a knowledge from it. In trading your first objective is not to multiply it, your objective should be how are you going to protect it in order for you to able to grow it.
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December 17, 2019, 06:11:31 AM
 #15

The best weapon that we can wear before we enter trading is the knowledge about it and dealing with its risks. As for me, we have to look for a legit coin and it's trust rate before trading. Trading with top coins would be an advantage. Choosing a trusted exchange is also necessary. Dealing with every market situation and applying the basic strategy which is to buy low and sell high is also a good point. Trading is a long process of learning and we can discover a lot of things along the journey.

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December 17, 2019, 07:25:38 AM
 #16

The best weapon that we can wear before we enter trading is the knowledge about it and dealing with its risks. As for me, we have to look for a legit coin and it's trust rate before trading. Trading with top coins would be an advantage. Choosing a trusted exchange is also necessary. Dealing with every market situation and applying the basic strategy which is to buy low and sell high is also a good point. Trading is a long process of learning and we can discover a lot of things along the journey.

One of the problems of the traders today is if they know the basics in trading they going to need to wage all of the money they have because they know this is all about risking money to have profit, and that was wrong we are aiming for profit and play safe our money we do not want to waste all of our hard work's and just gone in a wrong trade be careful on that, even the professional traders that have much experience always think about the action because they do, one of the concepts of trading today is earning a substantial profit, trading is all about exchange of currency and winning trades. It would be a bonus if you got a little amount of profit. In trading, you need to look what coin is fit to your wants because sometimes we want to have a secure trading and get an easy money, but we choose bitcoin, bitcoin is a volatile currency too, but it takes time to earn huge amount of money this kind of method is short term that is good for altcoins. Even you are knowledgeable in trading, always research to be more updated on what is happening on the currencies.

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LouVandetta
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December 17, 2019, 08:05:41 AM
 #17

Stop-loss is one of the most important thing to know. I've seen quite of beginner traders that jumped in to trade their money without setting their stop-loss first.
They bought  at x price and put a sell order at xx ( a higher price), then they leave it while believing that the price will rise and when their order is filled, they will have the profit as what they've imagined. Without minding the risk if the price goes below that point. And all you get is losses.

Well, and other things from that article is pretty much a must know beforehand especially for beginners. But it's also a good reminder for traders that already has some experiences, to always remember them.
Bohxz M4p4gm4h4l25
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December 17, 2019, 08:06:49 AM
 #18

The best weapon that we can wear before we enter trading is the knowledge about it and dealing with its risks. As for me, we have to look for a legit coin and it's trust rate before trading. Trading with top coins would be an advantage. Choosing a trusted exchange is also necessary. Dealing with every market situation and applying the basic strategy which is to buy low and sell high is also a good point. Trading is a long process of learning and we can discover a lot of things along the journey.
I think every coin in coinmarket can be trusted for the sake of trading; not necessarily for holding if I'm not mistaken. On the other hand, I agree with your statement that we must trade well known coin if we wanted to protect ourselves because some altcoins in coinmarketcap are devaluing gradually.
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December 17, 2019, 08:23:10 AM
 #19

The best weapon that we can wear before we enter trading is the knowledge about it and dealing with its risks. As for me, we have to look for a legit coin and it's trust rate before trading. Trading with top coins would be an advantage. Choosing a trusted exchange is also necessary. Dealing with every market situation and applying the basic strategy which is to buy low and sell high is also a good point. Trading is a long process of learning and we can discover a lot of things along the journey.
I think every coin in coinmarket can be trusted for the sake of trading; not necessarily for holding if I'm not mistaken. On the other hand, I agree with your statement that we must trade well known coin if we wanted to protect ourselves because some altcoins in coinmarketcap are devaluing gradually.

Safety is necessary not only in trading, but in our daily lives. But in terms of trading, it is the one who will keep you safe from scams and losses. Taking care of your safety is very important for a trader because it can lead you to lose all your money in just a second.

Always check the addresses and your wallet for you to avoid sending money to wrong address. Also inform your friends about the safety that you learned for them to also keep their accounts away from errors.

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December 17, 2019, 08:26:06 AM
 #20

When it comes to money you must consider many things before you send it out, yes there are so many scammers in this market and yet a lot of people still fall on this one. If you want to become a trading then learn not just to buy and sell, learn to timing the market and win on this field. Knowledge in trading is important, don't skip this process or else you will fail and your money will be gone and also scammers can get your money if you trade with a wrong coin.

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