Safety first before trading

[dunfida]

It's scary that more and more are becoming victims of scammers or hackers in the trading world. Therefore I totally agree to do it
safety first when trading, one of which is choosing popular and reliable trading platforms. Then choose potential coins for trading,
and don't buy low volume coins. The next one uses risk management so that the capital used is safer, and lastly, always use the
stop-loss feature to maintain the capital we have.

Being cautious in everything you do before you trade and while you're into trading helps keep you safe and your assets too. Do not rush into trading thinking that this is a quick rich sheme because once you're into trading, your funds will be automatically in a high risks. Choose the best trading platform once you trade and make sure you are trading those high volume coins and not those dead coins or else you will end up losing your funds.

Theres no such thing about being completely safe when it comes to investment no matter how cautious you are but somewhat this is much better compared to those people who do just make out reckless and
careless decisions towards into their investment.Of course we do mind into our investment since we do know that our money is on stake but mistakes are inevitable so you should somewhat expect that losses
cant really be avoided no matter how hard you do try on making the best strategy or analysis out there but what most important is that you do know how to handle out situation which would result for you to
end up on profits on what you've been doing.

[1714670661]

1714670661

[1714670661]

1714670661

[1714670661]

1714670661

[1714670661]

1714670661

[kakonhat]

Safety need for everything not only for a wallet. I think everyone needs risk management safety. Suppose if you invest $1000 and got some standard profit you should backup your $1000 to full free from any tension if don't has much money. And sure before investing you should know where are you investing.

[Arkann]

I believe that for every trader, the most important factor in safe trading is risk minimization, which can be carried out primarily thanks to the stop loss function. But only the correct settings for this function can protect the trader from unforeseen moments of fluctuations in the cryptocurrency rate.

[Salauddin1994]

Ensuring safety before trading is the main responsibility of every trader otherwise the risk is to read more. The site you invest in must be well analyzed you need to verify the reliability of the site and then invest. Also, the amount of investment should be reduced if the site is good then gradually increase. No matter where you invest you need to have a backup so that you can easily recover if something goes wrong later without protection business can never be profitable.

[palle11]

Safety need for everything not only for a wallet. I think everyone needs risk management safety. Suppose if you invest $1000 and got some standard profit you should backup your $1000 to full free from any tension if don't has much money. And sure before investing you should know where are you investing.

Investing properly is another part of managing your resources. You need to do a research on the project because money management won't matter if the project isn't progressing. I bought a coin in the past but after few months it dropped 200% and I was left with nothing .

[SacriFries11]

I believe that for every trader, the most important factor in safe trading is risk minimization, which can be carried out primarily thanks to the stop loss function. But only the correct settings for this function can protect the trader from unforeseen moments of fluctuations in the cryptocurrency rate.

That's right. I agree with your point. It will minimize the losses if they set it in the right spot. Most of scammers take advantage to the people that have lack of knowledge about cryptocurrency. They promise that they can grow their money after they invest. They tell that its a 100% sure that it will double or even triple. There's a lot of things to learn before trading. Its best to know and learn before trading to avoid a lot of mistakes.

[MCobian]

I totally agree that when we trade, don't focus too much on chasing profit, but safety first must be prioritized. Because if we focus on profit,
usually all of our plans fail if it turns out that our strategy doesn't go according to plan. Here mistakes are often made by traders, in the end
blaming the coins that have been purchased. Even though crypto trading is activities that have a very high risk, so actually it is obligatory to
prioritize safety first.

[imstillthebest]

That's right, security should come first. Also, you need to minimize the risks as much as possible, then you will not be able to lose everything.

I know only one way to minimize risks when trading, it is to work only with large exchanges, and everything else depends on luck.

why mate ? is it because large exchange have a tough security and you think you can avoid hacks with that ? well thats a reasonable piece of advice .

when your secure your already minimizing the risk along with that but minimal risk does not meant that you will now not loose any  . theres still a risk , only small  and you can also loose small but thats better than loosing big  .

[onecall123]

That's right, security should come first. Also, you need to minimize the risks as much as possible, then you will not be able to lose everything.

I know only one way to minimize risks when trading, it is to work only with large exchanges, and everything else depends on luck.

You're right, I've been following the rule to minimize the risks but sometimes i'm wondering how others haven't known at least this basic knowledge. It's hard feeling especially when you only have little money to lose so learn act quickly when you need to. Newbie people need to get educated to not fall into this trap. Most people need to be careful though.

[Quidat]

That's right, security should come first. Also, you need to minimize the risks as much as possible, then you will not be able to lose everything.

I know only one way to minimize risks when trading, it is to work only with large exchanges, and everything else depends on luck.

You're right, I've been following the rule to minimize the risks but sometimes i'm wondering how others haven't known at least this basic knowledge. It's hard feeling especially when you only have little money to lose so learn act quickly when you need to. Newbie people need to get educated to not fall into this trap. Most people need to be careful though.

There are really situations on where those people who do only have limited or little knowledge about trading do really make out some profits even into its limited information
yet we cant really deny that luck do really have some part where it can really affect someones trade even though no matter how good he is or noob but there are instances
where you can make money in spite of lacking those capabilities but those luck wont really last long yet sooner or later you would really experience mistakes and which causes
for you to lose money and thats the time you would consider on learning things up to reduce risk.

[gabbie2010]

Safety need for everything not only for a wallet. I think everyone needs risk management safety. Suppose if you invest $1000 and got some standard profit you should backup your $1000 to full free from any tension if don't has much money. And sure before investing you should know where are you investing.

Investing properly is another part of managing your resources. You need to do a research on the project because money management won't matter if the project isn't progressing. I bought a coin in the past but after few months it dropped 200% and I was left with nothing .

Yes two major factors to be considered are money management and choosing the right and appropriate coin for investment, we are all aware of the numerous numbers of coins flooding the cryptosphere, of course there are numerous coins that doesn't worth investing on, any investor that made a wrong choice will amount to losing the investment ie a situation where the coin dumped massively as you rightly said, managing the coin is another factor after making profit as in taking profit at the appropriate time and percentage values while leaving the portfolio to grow.

[dimonstration]

I believe that for every trader, the most important factor in safe trading is risk minimization, which can be carried out primarily thanks to the stop loss function. But only the correct settings for this function can protect the trader from unforeseen moments of fluctuations in the cryptocurrency rate.

Sometimes we tend to forgot to set the stop loss function that results for a big losses, on terms of these instance we should better also have actual emergency fund so whenever we need money for expenses and the market is not doing well we will not opt to sell our potential coins that may still arise in value after it's decline. Don't ever trade all in your money without having extra fund for emergencies and don't forget to stop losses especially if the project were not really for long term investments.

[Pamadar]

I believe that for every trader, the most important factor in safe trading is risk minimization, which can be carried out primarily thanks to the stop loss function. But only the correct settings for this function can protect the trader from unforeseen moments of fluctuations in the cryptocurrency rate.

Sometimes we tend to forgot to set the stop loss function that results for a big losses, on terms of these instance we should better also have actual emergency fund so whenever we need money for expenses and the market is not doing well we will not opt to sell our potential coins that may still arise in value after it's decline. Don't ever trade all in your money without having extra fund for emergencies and don't forget to stop losses especially if the project were not really for long term investments.

Preparing yourself is far better before jumping to this business. Having a good emergency funds will allow you to keep holding your assets
and not to be worried, fear will not eat you up while you are still inside this market.
Regarding to stop and loss you need to know how things works it's a good tools but also can be a reason of your losses, mostly inside crypto
market as the nature is very volatile.

[mersal]

I believe that for every trader, the most important factor in safe trading is risk minimization, which can be carried out primarily thanks to the stop loss function. But only the correct settings for this function can protect the trader from unforeseen moments of fluctuations in the cryptocurrency rate.

Sometimes we tend to forgot to set the stop loss function that results for a big losses, on terms of these instance we should better also have actual emergency fund so whenever we need money for expenses and the market is not doing well we will not opt to sell our potential coins that may still arise in value after it's decline. Don't ever trade all in your money without having extra fund for emergencies and don't forget to stop losses especially if the project were not really for long term investments.

Preparing yourself is far better before jumping to this business. Having a good emergency funds will allow you to keep holding your assets
and not to be worried, fear will not eat you up while you are still inside this market.
Regarding to stop and loss you need to know how things works it's a good tools but also can be a reason of your losses, mostly inside crypto
market as the nature is very volatile.

Stop loss can save you from huge losses, that is what it was intend for.So if you are someone who wants to care about the capital more than the daily profit then it should be an important feature to have and also can be used by the day trader as well depends on the coin which they are trading on that day.

[mnporter2001]

4 things to note are correct but the presentation is quite vague. I think newbies should look to the books that teach trading of their predecessors, which will be how the newcomer can understand the difficulties as well as the process of a real trader. Meanwhile, the traders will understand better about the truth as well as the truth when trading. Such experience will help the new traders define a trading strategy more easily. and of course, the knowledge in the book will still be reasonable as well as much clearer when read in magazines. I encourage you to read this book, The Market Wizards Series by Jack D Schwager

[Bitlover10]

Many people loose their fund in this market even experienced traders also lost everything. From my personal experience only 2 to 5 percent people took profit from this market and other more than 90 percent people lost their money in the market. So risk management is very important in this market. You mose concern should be how to safe your capital. Profit is too far away. First you need to learn risk management.

[Wratheye]

From the very beginning, you need to understand that you do not need to chase quick profits.

[Mpamaegbu]

I'm not going to belabour this topic but honestly it doesn't seem to stop amusing me the way people talk about trading as if it's the only risky business in the world. Come to think of it, every business venture is risky. The only thing with trading was that a lot of people jumped into it thinking it's an easy way out - a Get Rich Quick scheme. Now, those who got stung by the half truth know it isn't so. Perhaps they're the ones crying wolf. If anyone must trade (either Forex or Crypto or both), go get the required set skills for it. It's a job, not a gamble. Get the right education for it.

[glowing10]

From the very beginning, you need to understand that you do not need to chase quick profits.

Understanding and having basic knowledge about trading is essential, do not be greedy and book profits unless it is for long term ,  Stop loss is a must if you need to survive in trading  and this is my personal experience, Do not trade just blindly unless you are aware about it.

[Dorodha]

Quick gains always bring losses the newcomers are more vulnerable and lose everything and leave the market. You need to know the business before you trade and you need to monitor the market well over time. Using your skills you should try to learn the techniques before trading and stay away from new sites these are more scams.