Tips for good trading

[carlisle1]

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.

This is one of the worst kind of emotion that I have seen for some traders. They still keep on spending their money eventhough they already have made big losses.Hoping that they can make a good amount and get their money back.

A professional trader never act like this because they know how to control their emotions.They know how to cut their losses when having a bad trade.

The challenge some traders are facing is to control not to be greedy and some don't even know if they are greedy.  After trading and their was lose in the trade, some trader would want to recover the money that was lost by all means, doing this sometimes may not be with a clear mind, but a mind that is very emotional.  Being too greedy can make a trader loss a reasonable amount of money.

It's true, following emotion can lead a trader to lose a lot of money, there are panic holders who trade emotionally mostly being

victimize by the situation, fear and not thinking right. It's very important to know what you are doing in any situation in this market,

no matter what you'll do, you have to weight everything and make a deeper research with your chosen asset.

[Peanutswar]

Before I commit a trade first I need to seek for the project which is a good outcome but if you don't want you can already make a grade with the trusted which is the bitcoin but of course, having a different option is ideal too. Next is always analyzing the candles stick, market graph and creating a technical analysis this is the most essential when you will figure out when is the right timing to make a trade. Most of the problem when we commit a trade is emotions because it affects our decision when making a trade. If you lose make a mistake and learn from it.

[Fredomago]

Trial and error in your first 100 trades, if you focus with that you'll be able to materialize good trading practices that will let you have good winning chances, never to quickly judge according to how you think the market will proceed, there are many sideways this volatile nature of this industry will keep you lose your money if you just quickly judge your entry and exit position.

Make a good use of all those information that you'll be able to gather online, practice and never stop trying to enhance
your strategy, it will help to increase your confidence.

Trading doesn’t require being in a hurry, it is something that you have to take your time to do. You have to master the strategies that are involved, and as time goes on you also try to switch up the strategies that you use and see which one would better work for you. Being cool headed anytime you want to trade is really important, so that you’ll be able to be very calculative of whatever action you are trying to take.

Some people end up losing their money trading in the market, because they don’t understand that trading is a process, and it is not something that you try to hurry up about and it’s not a way for making quick money like some people would think. There are risks involved and if you try to rush everything you might end up losing your money. And it’s good to also try to avoid greed, because that’s what would make you to make decisions that will ruin your trade.

You said it right, traders who quickly judge the condition of the market mostly led to losing their money, while for those who
knows that there are many factors that includes when you are into this business are sorting all the possible grounds, they
are collecting facts that they can use to base their decision making.

It's lesser in committing mistake and if you established your strategy the right way,

The hance of success is better compared to those who are just leaning with luck and just trying to ride with the hypes.

[Webetcoins]

Trading is a good career for someone to make good income. It is usually not easy, but if you are to concentrate and take your time in mastering the skills and know what to do at the right time, then you are really going to benefit from it. It can be very risky, but there are still people who rely on crypto day trading as their full-time job, and these people are still making it. So, if anyone can really rely on this type of business as a full time job, then that means any other person can still do it.

But, the problem with other people is that they lack patience, and they try to trade when they don’t have enough funds to do that, and then lastly they are afraid of the risk involved. Before you decide that you should trade, you should make sure that you have enough funds available.If you don’t have enough funds to spare for trading, it will lead you to trading with money that you might be needing for emergency purposes, and that would affect you badly.

[Lordhermes]

Every good trader has his techniques and tactics he can always use to get his stuff done.Every trade is aimed at getting profit and there are so many things one has to do to be able to make trading successful.

One must strategise on the best time to invest.
One must be able to research for the best project that can yield good result.

[nhaila]

There are several important things to keep in mind when trading. When it comes to trading you are bound to lose out on profits.  Moreover, in case of trading, you should not go beyond your budget to trade. You will trade from your knowledge. Don't trade on someone else's advice.

[Edith1994]

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.

Nice one, I really appreciate. Thanks for passing you knowledge to others.

Always remember never been in a hurry, be your self, take your time and relax.

[boyptc]

There are several important things to keep in mind when trading. When it comes to trading you are bound to lose out on profits.  Moreover, in case of trading, you should not go beyond your budget to trade. You will trade from your knowledge. Don't trade on someone else's advice.

There is nothing wrong with following someone's advise especially if you're a newbie.

What you must do is to get the good advises and you have to discern if the advises given to you are good for your growth. But if you discern that they're not going to do good for you.

That's the time that you just stop receiving any advise or asking that adviser of yours when it comes to trading and investing.

[BatBoy313]

a very useful thread for beginners and experienced traders alike
I think trading cryptocurrencies is quite difficult, because the volatility often takes me out of the stop, and the price goes further on my idea

[Slow death]

a very useful thread for beginners and experienced traders alike
I think trading cryptocurrencies is quite difficult, because the volatility often takes me out of the stop, and the price goes further on my idea

It is a fact that in this cryptocurrency market, people who make high profits are people who buy at the right time and hold to sell at the right time, for example:

buy bitcoin at the price of $37000 and sell it at the price of $67000

then buy bitcoin again at the price of $40,000 and sell when it is worth more than $60,000

[MFahad]

Very helpful tips. Every new user should read and follow. Generally new user losing money because they don't know where to start and don't know buy,sell target.
 New user should Start with low amount like 50$ and then follow the Forum tips,news and Youtuber strategy. I think this will be helpful but remember try to follow two or three time to get better result and you will learn best trading strategy

[Fredomago]

Good sharing makes us as traders aware that trading cannot be done arbitrarily. You need careful thinking and strategy so you don't make a wrong move. a trader must have the courage to accept the risks and dare to take firm decisions were to determine when to sell or buy crypto. it's not an easy thing because we need to understand the crypto market well. that is why in trading we must be equipped with sufficient knowledge and experience so that we can adapt to the crypto market and deal with it well.

You have to be fully equipped with knowledge that you needed when dealing with trading, it's not a game of luck but more on analyzing the market conditions, it's wrong to think that you can easily make money with this business, the timing is very important. With good anticipation skills and right mindset, you will be able to established good system that will help you to become successful inside this field of investment.

Trading needs time. You have to keep enhancing your strategy and allow every possible adjustment to take for a much better outcome.

[Jazzi Mahesh]

Day trading is probably the most well-known form of active trading. It is often considered a pseudonym for the active transaction itself. Day trading, as the name suggests, is a method of buying and selling securities on the same day. Positions are closed on the same day they are occupied, and no positions are held overnight. Traditionally, day trading is carried out by professional traders such as experts or market makers. However, electronic trading has opened up the practice to novice traders.

[Issa56]

Most of the newbies which are just starting how to trade don't know their are lot's of risk which is associated with trading, most of them don't know they can lose money in trading until they start trading, after starting that is when the will realize and understand what cryptocurrency trading is all about, most people always endup giving up after losing money.
Whenever am teaching anybody how to trade the first thing I always tell them is they can lose all there money and they should make sure they invest any amount they can afford to lose, cryptocurrency trading also include patience, whenever you are trading always be prepared to hold a coin for a long time.

[LastKiss]

Most of the newbies which are just starting how to trade don't know their are lot's of risk which is associated with trading, most of them don't know they can lose money in trading until they start trading, after starting that is when the will realize and understand what cryptocurrency trading is all about, most people always endup giving up after losing money.
Whenever am teaching anybody how to trade the first thing I always tell them is they can lose all there money and they should make sure they invest any amount they can afford to lose, cryptocurrency trading also include patience, whenever you are trading always be prepared to hold a coin for a long time.

I agree to someone who is just trading always wants to rick quickly without knowing about its risk, we should cheer up for someone who lose their money and tell them that what happened to them is part of the experience in trading so they wont give up on trading. They should know that trading is not that easy unlike what they saw in some advertisements because when we introduce trading we always tell them the good part only.

[Obito]

Very helpful tips. Every new user should read and follow. Generally new user losing money because they don't know where to start and don't know buy,sell target.
 New user should Start with low amount like 50$ and then follow the Forum tips,news and Youtuber strategy. I think this will be helpful but remember try to follow two or three time to get better result and you will learn best trading strategy

One thing that a newbie should get is a mentor or someone that they can look up to and know that they won't bring them down with their knowledge and instead impart that knowledge. I wouldn't recommend following YouTubers though, you don't know if they have your best interest in mind and most of the time, they don't.

[Mart1ncrypto]

You need to constantly be in the center of events related to cryptocurrencies, as well as have good technical analysis. In trading, price prediction helps me, for example, I go here every day and look at the price forecast.

[Ararbermas]

Whenever am teaching anybody how to trade the first thing I always tell them is they can lose all there money and they should make sure they invest any amount they can afford to lose, cryptocurrency trading also include patience, whenever you are trading always be prepared to hold a coin for a long time.

i think that's not the proper way to introduce trading.

And i suggest to advice them to use paper trading first before anything else so that they can build strategies and control their emotions before trading live.

I mean instead of using real money to practice trading because it can cost you alot.

And to be honest lossing money in trading is very normal wherein even professional traders can experience such situation, but with a proper risk management and enough knowledge they can minimize losses and still making good profits!

So i suggest mate.. Tell them to use paper trading and not to risk real money to learn trading..

[Hobo66]

The things you've outlined are excellent for being a successful trader. Actually, if you are aware of the situation in which you are involved, it is simple to take advantage of it; nevertheless, if you are unaware, it is required to become aware of the situation. You will undoubtedly make mistakes at first, but as time passes, you will undoubtedly seek out the tactics and principles that will allow you to benefit simply. If you rush to take advantage and don't consider the cost, you're making a mistake that could cost you a lot of money.

[jossiel]

You have mentioned every facts very rightly, and i want to talk more on is learning more from your mistake.
When it comes to trading, most of individuals feel as though the market just moved against them which led to the loss; as a trader we need to figure out to always point out errors from within without pushing blames to the market, network browser or other phenomenon.

I agree about that. It is one matter that everyone must look into and not just you have traded and you lost.

But as you have lost, there is the learning that you have to extract from that losses that you have made so that it is worth it.

The lesson is there specially if you have applied a certain strategy on it.