Tips for good trading

[FanEagle]

1. Trade at your own risk - You should know that investing, gambling and trading is somehow the same because you are not sure that you could win the prize, so expect that you could win and you could lose your money.
2. Limit your budget - always limit your budget for trading, you should use only those extra money you have, instead of spending it on some other things, you may use it for trading, at least you made something to make it profitable.
3. Do not be greedy - There are many people who suffered from being greedy, they tend to spend all their money because of thinking that they could still make more money but instead of earning they have lost their money. ALWAYS KNOW WHEN TO STOP AND CONTINUE TO TRADE.
4. Learn from your own mistake - Instead of being sad because of losing try to think on some other thing why you get lost and think some good strategies to overcome those mistakes.

These 4 and 2 more from google or somewhere else is enough for me to be good at trading? I just wonder how effective on teaching people about do's and don'ts on trading; because basically I never learned anything from anyone's piece of advises but all from my own experience and interests. I mean we are able to easily get tips on trading but most of them are not at all impacting on our trading for no reasons (Just talking with respect to what I am doing in trading regardless of what kind of dips I am coming across).

I agree different traders are having different approaches and the tips they are getting from Internet will be enough for getting them profits then I believe there would be more number of highly profitable traders by this time but people are sharing different stories.

I mean no tips will be effective unless otherwise traders learn them by heart. When they just come across those tips then they will definitely forget them while trading.

[Smitty Werben Man Jensen]

I am for limited budget, its how you save yourself from big loses, its how you can avoid getting busted with bad trades. It's a good start, you limit yourself with some amount you can afford to lose and you start your trading journey. With time and practice you learn more about different options, what is good to do and what's not so good to do, which coins are good for trading, the range of fluctuations, which things can affect price to rise or drop, and after a lot of practice and learning you can become successful trader.

small budget make you small money if the market move in your favour and lose small if it get against you. I did not see much difference than emotional control. In trading you will only succeed if you trading without following the fomo.

following Fomo is also important, because you can benefit quickly, but remember it is indeed risky,
if indeed Fomo comes when the chart supports, then no problem

[daneal stev]

Everything you say is true, and I agree with you. For me, the best advice that enables a person to become a professional trader is to always stay away from emotions and focus only on the mind, in addition to stay away from believing everything that is published on the Internet because this news can be false and the only rumors we should not be greedy, because Greed always exposes us to losses, and the most important thing is to get away from this field if we don't even have a little experience inside it.

[TheGreatPython]

I know if you pay attention to every details of your trading before making it a real trade it will minimize your risk and make it not a totally gambling anymore. If someone will trade without any proof of winning or any possibility of making it a right trade, I think it will consider as a gambling. Limit the budget of trading and also limit the amount that will possibility of losing. Don't try to get back the amount that you lose, maybe you will get it in the next day. Lastly, continue to learn every single day and another way to make a good trade. In this, you will be a great trader someday.

My best advice would be to check the yearly prices. If you check yearly prices (not just for bitcoin but for all coins) you will see how much the price was on average and where it went down and, you would know the peaks and you will know the bottoms. After you get those wait for a bottom, it doesn't have to be deep bottom where it would reach very rarely, but just check if its low compared to rest of the year, for example under $6.5k would be the key this year, use that for the following years.

Buy it when it reaches those levels and check the news, maybe you should not buy it because something horrible happened, but if its not a huge deal with the coin, you can still buy. Wait for it to go up to a good level and you would be able to sell it for a good amount of profit thanks to this. Takes months but still works.

[iv4n]

I am for limited budget, its how you save yourself from big loses, its how you can avoid getting busted with bad trades. It's a good start, you limit yourself with some amount you can afford to lose and you start your trading journey. With time and practice you learn more about different options, what is good to do and what's not so good to do, which coins are good for trading, the range of fluctuations, which things can affect price to rise or drop, and after a lot of practice and learning you can become successful trader.

small budget make you small money if the market move in your favour and lose small if it get against you. I did not see much difference than emotional control. In trading you will only succeed if you trading without following the fomo.

Small budget make you small money, and many people don't have patience to make small money for months, and to build a lot from scratch. Usually people get carried away with some easy but profitable trades and that they can do it like that every day, but the market make unplanned turn and ruin all their hopes.
Follow fomo and do the opposite is like any other strategy, it will work for some time, and sometimes it will trick you! Nobody wins all the time, have that in mind, you need to play it smart if you wish to be successful in long run.

[Zackgeno96]

These are indeed nice tips to guide everyone through a profitable trading adventure, however it is far harder than it seems because onces you are trading, alot of things have to come in play because even the slightest factors you didn't foresee can affect the price of a coin leading either dump or price increase but most of the times, it often leads to dump and this is the fact that everyone needs to understand perfectly before trading

Before trading should have a comfortable mind and not to think about other things, I usually read or watch some entertainment articles before trading because it makes me feel comfortable. When I start trading, I always choose the price to buy and sell at a good price. Of course, it's not always so easy because the crypto market is very volatile.

I never get any coin on what price I was hoping to buy, its always some up or down in price when i am trading.
What I always do is make some charts and study the trend and make that on those charts and then I speculate what is the next move of the market and make my strategy according to that and also browse some tweets by analysts that I follow on twitter, sometimes I am proven wrong but in the long run I have made decent amount of profits from trading.

[Fredomago]

Everything you say is true, and I agree with you. For me, the best advice that enables a person to become a professional trader is to always stay away from emotions and focus only on the mind,.

Focus from how you understand the point when you investing to any projects, your own understanding will enable the chance of success while
working around this market.

in addition to stay away from believing everything that is published on the Internet because this news can be false and the only rumors we should not be greedy, because Greed always exposes us to losses, and the most important thing is to get away from this field if we don't even have a little experience inside it.

Greed will only lead you to lose instead of benefiting from the business, always take time to study clearly before you decide anything in terms of investment.

[AakZaki]

following Fomo is also important, because you can benefit quickly, but remember it is indeed risky,
if indeed Fomo comes when the chart supports, then no problem

Very important and also not important, depending on where we are at the time. If you know a few FOMO coins will certainly provide many benefits quickly, but we also have to do everything quickly.

Mental control when joining FOMO is also important, don't be too greedy to get a lot of profits in a fast time. Being greedy will only hurt you. Don't join FOMO if you are not ready.

[JasmineRose]

Good tips sir, that is really helpful of newbie for start trading in cryptocurrency.
One more tips for me, don't afraid to lose your money because when you fail you got experience to do better, so let's get started.

[milewilda]

These are indeed nice tips to guide everyone through a profitable trading adventure, however it is far harder than it seems because onces you are trading, alot of things have to come in play because even the slightest factors you didn't foresee can affect the price of a coin leading either dump or price increase but most of the times, it often leads to dump and this is the fact that everyone needs to understand perfectly before trading

Before trading should have a comfortable mind and not to think about other things, I usually read or watch some entertainment articles before trading because it makes me feel comfortable. When I start trading, I always choose the price to buy and sell at a good price. Of course, it's not always so easy because the crypto market is very volatile.

I never get any coin on what price I was hoping to buy, its always some up or down in price when i am trading.
What I always do is make some charts and study the trend and make that on those charts and then I speculate what is the next move of the market and make my strategy according to that and also browse some tweets by analysts that I follow on twitter, sometimes I am proven wrong but in the long run I have made decent amount of profits from trading.

It all matters on how we do mix things up because market is too unpredictable thats why we do seek of on different strategies
neither you do stick out with news or would stick out with technicals or might doing both.It depends and as long you do see
it as an effective way or does profit you out then you will surely normally stick on.

following Fomo is also important, because you can benefit quickly, but remember it is indeed risky,
if indeed Fomo comes when the chart supports, then no problem

Very important and also not important, depending on where we are at the time. If you know a few FOMO coins will certainly provide many benefits quickly, but we also have to do everything quickly.

Mental control when joining FOMO is also important, don't be too greedy to get a lot of profits in a fast time. Being greedy will only hurt you. Don't join FOMO if you are not ready.

There are benefits and there are indeed risk most of the time when we are already on the FOMO side. Our emotions will be the primary enemy yet you would surely bet
get greedy most of the time. Always set target profits and never ask for more or go beyond that because it will just result that the price dump will surely caught
you anytime soon. These are rare chances and always presume out that when theres sudden spike then it would really be always followed by correction.

[Kasabus]

following Fomo is also important, because you can benefit quickly, but remember it is indeed risky,
if indeed Fomo comes when the chart supports, then no problem

Very important and also not important, depending on where we are at the time. If you know a few FOMO coins will certainly provide many benefits quickly, but we also have to do everything quickly.

Mental control when joining FOMO is also important, don't be too greedy to get a lot of profits in a fast time. Being greedy will only hurt you. Don't join FOMO if you are not ready.

Being greedy will make you in trouble and getting into FOMO without much knowledge about the coin you are running into will make the situation even worser. Just trade with a minimal risk and invest only with a small amount especially if you are still a newbie in trading. Trading does not guarantee good profits most of the time, so better prepare in times of losses.

[slapper]

I want to add 1 more tip which I believe really really good for me: Dont look at the chart/price/exchange 24/7.

The more you look, the more stress you are. Moreover, if you look at the screen too much, your mental and physical health can easily be harmed, which causes you to make the wrong decision most of the time. Try to SET & FORGET, open your charts for about 1-2 hours a day. \

Meditation is also good for trading which helps you to decrease your stress and heal your mind.

[BuNga_cute]

There are still many who experience losses when trading, even losses that can be experienced repeatedly. That's because it lacks
skills and also knowledge of trading. Do all the tips in the opening post, then there will be changes from the trading results that
we do. In my opinion all the tips in the opening post must be done if you want the results to be a successful trader.

[pixie85]

thank you friend, these tips are really useful for newcomers. But for those who know nothing about trading, There is no need for them to come to trading market. Every side has its pros and cons just like this trading and there are some good and bad aspects. We need to know about them like if you successfull in trading then you are good at this side. If you don't know about and trading, Then i think it's bad for you. But not bad for everyone ,not bad for those who know trading. just bad for those who don't know.

If all people were thinking like you and tried only the things they know well in theory we wouldn't have any accidents, money losses, the world would be a calm and boring place.  

You learn the fastest by doing. People should trade even if they know nothing about it just remember to start with very small money. You can project your income trading with 1/100 of your money.

I don't agree with you! Investing and trading in the cryptocurrency market is quite risky! I agree that we learn faster when we practice, however, don't jump to a market with zero knowledge! You definitely gonna lose your capital no matter what! Don't go too fast, don't be rush, don't be greedy! Emotional decisions lead to negative results and traders should know that!

So what? You have to pay to learn something, am I wrong? You pay for school, you pay to get a drivers license, you pay for your mistakes.

The only way to really learn trading is to pay just a little. Take 1% of your mnoney and start trading withot leverage and you'll learn much more than you would by reading comments and forum posts.

Nobody is saying you have to make emotional decisions or go all in.

[diazepam666]

The main tips for trading
1. Follow many telegram groups.
2. Read the daily updates of market.
3. Fix the trade limit and gain limit.
4. Must active on trading duration.
Many peoples are follow the numbers ways so we can learn all the ways all the suggestion of trading platform.

[sempak]

Train mentally and must be more main and basic understanding of trading so that we are not stuck in the wrong position. as we know that indeed now there are so many signals or fomos that often occur, for a trader must be able to take a stand related to this in order to avoid being caught in hype. because usually it will be the first mistake

[AakZaki]

There are benefits and there are indeed risk most of the time when we are already on the FOMO side. Our emotions will be the primary enemy yet you would surely bet
get greedy most of the time. Always set target profits and never ask for more or go beyond that because it will just result that the price dump will surely caught
you anytime soon. These are rare chances and always presume out that when theres sudden spike then it would really be always followed by correction.

Became a rare opportunity but with a big risk if not quick in making decisions. The higher price hikes will end with a massive correction or dump.

Even I have also been trapped in a situation like this. and the result is that the value of my FOMO coins has decreased and eventually does not return to the price at the time the FOMO occurred.

Always set targets that are very important and should not be violated.

[The cure]

Everything you mentioned is correct, the one you said who caught my attention was to limit your budget. Allocate amount of your money to invest in trading for you to avoid bankruptcy.Expand your knowledge about trading, do your research on how to grow.Don't expect big profits right away, it takes time and be patient.

[bearexin]

6. Pay attention to the bitcoin - Most altcoins (every cryptocurrency except Bitcoin) are pegged more closely to Bitcoin than Asian currencies were to the USD during the Asian Financial Crisis. If Bitcoin price pump drastically, altcoins price can go down as people try to exit altcoins to ride the BTC profits; inversely, if Bitcoin prices dump drastically, altcoin prices can go down, too, as people exit altcoins to exchange back into fiat. The best times for altcoin growth appear when Bitcoin shows organic growth or decline or remains stagnant in price.

All altcoins are pegged with Bitcoin, but it’s not all of them that correlates with bitcoin markets. There are some altcoins that moves a completely different direction from Bitcoin. One example is this coin that is called the Compound Coin, it has 0% price correlation with Bitcoin, unlike Dogecoin, XRP, BSV and the rest of them are following Bitcoin tightly on every move. So, anyone that’s trading should have that in mind and try to understand the coins they are trading better.

Secondly, greed is something that should be avoided from every trader's book. It’s very important, because when you don’t, you’re probably going to be mislead yourself into making the wrong move due to your want for more.

Trading is really profitable ways of earning money and having skills and knowledge about it would be a great advantage for you.

Without skills and knowledge you cannot earn anything from trading and even you manage to make some profits, skills and knowledge are always the most important factors for consistent profit making from trading. Thanks a lots of this topic and I am sure you might have helped many people here on realizing what is missing in their trading.

[alan2here]

Everything you mentioned is correct, the one you said who caught my attention was to limit your budget. Allocate amount of your money to invest in trading for you to avoid bankruptcy.Expand your knowledge about trading, do your research on how to grow.Don't expect big profits right away, it takes time and be patient.

Investment always takes time to wait and certainly should have a reasonable investment strategy to minimize the risk when investing.

Personally, I always have more than two plans before trading any coin because if the market is not favorable then I will have a way to ensure my profit. However, this market is unpredictable, and you should be more careful when deciding.