Tips for good trading

[cytpoway121]

Your guides and tips are something that interest my opinion, but i am attracted to the key word "KEEP AN EYE ON BITCOIN"
Bitcoin must not be neglected for any reasons at all, be it for the short term or the long term, bitcoin being bullish long term makes it a worthwhile investment option.

Also recall, that most tokens are paired to bitcoin, a dip of 1% in bitcoin price, could lead to a dip of 10% in altcoins trade pairs.
Always do your own research, and trade to get profits always.

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[rexxarofmoknathal]

Here's three more that I think newb traders need to know.

1. Don't trade at any exchange that doesn't use cold storage, it's as simple as that.
2. Don't borrow money to trade, this is no different to gambling and you'll probably get rekt unless you're already an established trader.
3. Stay well away from margin trading or leveraged tokens if you are not already somewhat experienced as a trader.

[wozzek23]

I just want to talk about what should be avoided whereas all people here are talking about what should be followed:
The biggest thing must be avoided is, people who think they can come into bitcoin world and can get rich over night. They see that bitcoin moved from 4k to 10k in a month and they think "hey if I put my 10k life savings into this, I will have over 20k!! that is awesome!!" and buy from 10k and it drops to like 8k and they suddenly realize that is not how this works. That is probably the worst part of bitcoin world, people do not realize that they could potentially do something much better if they just focused on smaller income instead of getting rich right away.

Now some tip from my side:
Just aim at that 5% profit, first get that, do not think like "what do I do after the 5%", just think about that 5%, after that you can move from there because that first 5% profit will make you realize everything you need to realize.

[Ridwan Fauzi]

Your emotion is another the important part when you are trading, I've often been trading and forget my strategy that end up in loss because I just depend on my appetency. I often to get profit but I want more than that but when its price decrease it mean it is just a retrace I sell it quickly. So I put the emotion is the important part to trade especially for myself, and I got a solution to avoid it. I spend a little money first to wonted every time I trade I must obedient in my strategy. It means every time I come to the market and every time I come out in the market I should look to my strategy first. And it was work, so as I wonted to do this thing until now.

[Blue_oxen]

very helpful tips, indeed for trading we cannot be carelessly, before that there are tips and knowledge for trading, I will discuss one of the Tips, that is "Pay attention to the bitcoin", indeed the direction of the price of Bitcoin in trading must be observed, if you altcoin trading, because if the price of Bitcoin experiences DUMP then altcoin will dump, that's what usually happens, so it's true observing Bitcoin is important

There are some coins that aren't really affected by bitcoin. I think the tips you said really help but not really for all. To be safe, I think only trade BTC / USD pair

[milandres0207]

I have seen many questions about how they are going to be a professional trader, so I just wanna share my experience, I am not a professional trader but I just wanna share some of my experiences and way of thinking in trading.

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.

Some good tips from google:
5. Check the ticker symbol - Ticker symbols are not universal and may vary from exchange to exchange in rare cases. Those cases, though, can come back to bite you. For example, Bitcoin Cash trades on some exchanges as BCH, while it trades on others as BCC. BCC is also the ticker symbol for BitConnect, which was recently outed as a Ponzi Scheme. If you bought BCC under the impression was Bitcoin Cash, you would’ve lost a lot of money.
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.

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

Not bad for giving a tips and reminders for all individual traders in the crypto business.
This will give a big help to everyone, all the states in the above mentioned was certainly correct.
Thanks, dude for this one, Good day to you.

[Yatsan]

Your emotion is another the important part when you are trading, I've often been trading and forget my strategy that end up in loss because I just depend on my appetency. I often to get profit but I want more than that but when its price decrease it mean it is just a retrace I sell it quickly. So I put the emotion is the important part to trade especially for myself, and I got a solution to avoid it. I spend a little money first to wonted every time I trade I must obedient in my strategy. It means every time I come to the market and every time I come out in the market I should look to my strategy first. And it was work, so as I wonted to do this thing until now.

Man your problem is you treat trading as a gambling, and I think you are doing day trading so when it dumps you are going to a quick sale. I highly suggest that you should start with long term trading so you can start controlling your emotion. And I think you are satisfied with a small win but when you loss, you are losing big amount of money. You are lacking on a discipline my friend. I think you should start with small money first if that's the case so, little by little you can have a progress on controlling your emotion when it regards to trading.

[Latviand]

Tip #6 was pretty nice considering we are trading and investing on cryptocurrencies. Most trading tips actually miss such a fact even though we are discussing cryptos, even I miss it sometimes. Though tips are nice and helpful, the experience still is the best teaching material imo. Trading isn't all about winning, it's also about losing. It's like how you won the battle but lost the war kind of thing. If you keep winning cause of a foreign factor, you aren't really a trader and you've probably lost already as one by using some third party influence. Don't be afraid to lose, just be careful about what you can lose. It doesn't really matter what precautions you use when winning since winning is always a positive thing, but precautions about losing should always be noticed and should always be carefully thought of.

That's really true, only focus on using bitcoin and prioritize it as you engage in many transactions and as you manage to hold it. Sometimes it is really necessary for us to focus on what we are doing so that we prevent having difficulties manipulating our bitcoin and we prevent confusion within our assets. Altcoins are also beneficial but bitcoin can really give you huge amount of profits compared to altcoins. These tips are good but no.6 will really help you have views and know what you're goal in cryptocurrency. Never hesitate to manipulate bitcoin and engage in transactions if it is necessary, learn how to buy and sell in time so that you will not experience a hard time losing and prevent your self from huge losses.

[Negotiation]

Depending on the trade broker, the above discussions are really great Here are some tips to help you get started We will all benefit and seem more helpful to newcomers. Success is easy if you follow these steps and invest in Bitcoin. Adequate capital is required to trade and invest with a focus on currency fluctuations Analyze the market well and choose the correctness of the currencies.

[Kelvinid]

Depending on the trade broker, the above discussions are really great Here are some tips to help you get started We will all benefit and seem more helpful to newcomers. Success is easy if you follow these steps and invest in Bitcoin. Adequate capital is required to trade and invest with a focus on currency fluctuations Analyze the market well and choose the correctness of the currencies.

Besides, capital will also affect our trade. The more we have, the more we can play with the trend. That is why I'd never encouraged people to trade to its minimum but rather to have some more. We can't be profitable with that $100, truly.

And one last thing we need to acquire and a must to practice is how to maintain calmness of mind. I know there are lots of factors that could help to become successful in trading and that was important to know how to manage ourselves in times of difficulties and crises. I have tested this.

[LUCKMCFLY]

There is a convection that I always keep in mind, I never risk 10% of my balance, the maximum risk under Stop Loss is 8%, but if I risk 8% I do a "Take Profit" at 24%, obviously I operate at medium or long term, that way I keep well the way to react to the market.

[carter34]

Successful trading still depends on the choice of broker and Amarkets is really suitable for both beginners and professional traders because of its functionality.

A newbie duty is to ask and research about the broker they are about to sign up to. So if you sign up to a high leverage broker, I don't think is the brokers fault and also many brokers these days have different accounts that you can choose from.
A newbie always fail because of inexperience.

[ScamViruS]

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.

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

This point is very important. New traders think that if the price of Bitcoin goes up, the price of altcoin will also go up, but the reality is different. When the bitcoin price is more volatile, everyone is more interested in trading bitcoin. As a result, everyone sell their altcoin and goes to trade bitcoin. Bitcoin trading is more profitable if you are a good trader. It is better to invest long term in coins than to trade Altcoin. And if you want to trade altcoin, you have to look at the bitcoin market first.

[darewaller]

My best advice would be to never go all in whatever the cost is, I do not care if you are missing out on the biggest potential profit you could ever consider, I do not care if you are missing out on the greatest increase, I don't care if some small coin manages to beat bitcoin and become number one, never but NEVER put all your money into crypto all at once. That is the single most dangerous thing you could ever do.

Of course you can put your last amount to trading, that happens, just don't do it all at once and eventually you will be forced to, there is a big difference between having 10 thousand and putting all that 10 thousand versus having 10 thousand and putting your last 50 bucks, the second one could happen and that is how it should be even if you lose, but not the first way.

[Moyna Akter]

It is very important to collect the best quality of information for good trading. Before start trading, you should collect all the necessary information about trading. You should have knowledge of proper knowledge of how to use this information. You must learn about trading information and use it in time. With patient and knowledge, you can make good trading.

[Vitalicus]

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.

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

This point is very important. New traders think that if the price of Bitcoin goes up, the price of altcoin will also go up, but the reality is different. When the bitcoin price is more volatile, everyone is more interested in trading bitcoin. As a result, everyone sell their altcoin and goes to trade bitcoin. Bitcoin trading is more profitable if you are a good trader. It is better to invest long term in coins than to trade Altcoin. And if you want to trade altcoin, you have to look at the bitcoin market first.

True! Another thing that a good trader should know is risk management. Manage the risk and make good decisions based on the information that you have collected and analyzed. Furthermore, don't ever have the fear-of-missing-out (FOMO). FOMO has much more consequences than its benefits. Don't be too greedy to avoid FOMO!

[MCobian]

Very useful 6 tips for trading that are shared in the opening post, especially for newbies who do not understand the basic rules
from trading. For me, greed often makes me lose the opportunity to make a profit, so don't be greedy is a tip that I must always
remember.

[Hidden Heart]

I know and Believe that Trading is not  for all. For CryptoCurrency trading need Experience and Knowledge about Trading Market Chart, Volume, Buy Sell Order and also More.       

[nicecrypto]

Be sure you fully understand trading before you venture into it, and most importantly trade with little amount for some time, I would also add try use a demo account to trade and be more familiar with trading terms before using real cash, it is very easy to lose money if not careful, only trade if you have the technical knowledge and experience.
In addition to everything don't be greedy.

[RealMalatesta]

I think people also need to understand that trading is not for everyone. If you study trading and still don’t understand what it’s all about, then I will advise you to just stay clear from it or you can still choose to give it a try and if after several efforts and it’s still not working, it’s best to consider something else in cryptocurrency than to continue losing your money.

Maybe after you have raised enough from the business you’re into to the extent you feel like you can throw some away, you can then get back into trading and do your best with those money you are afford to lose. Still, if you achieve such a state in your life, it would be much better to precalculate your risks and then trade cryptos accordingly because this way you can avoid unexpected risks which will cause huge losses.