Tips for Trading
Hobo66:
For new trader i want to share my experience. Follow and hope you will enjoy it.
- Don't trade more than you can afford to loose (Specially Bitmex).
- Do not FOMO buy. (Fear of Missing Opportunity)
- Do not FUD Sell. (Fear Uncertainty Doubt)
- Take Profits Out Often, Don't be Greedy. (Put Stop loss in Profits to book it with steps.)
- Accept Stop Losses. (-7% is better then -30%)
- Never Trade against the Trend.
Not Loosing Money is more Important than Making Profits.
Sterbens:
not only for new traders, because we often get caught with these mistakes. I think this also applies to those of us who have been trading crypto for a long time since 2015.
thank you this seems to give me a warning, that both new and old traders, in trading still have to be careful in taking action and always control emotions. ;)
palle11:
Quote from: Hobo66 on January 26, 2021, 05:02:00 PM
- Take Profits Out Often, Don't be Greedy. (Put Stop loss in Profits to book it with steps.)
- Accept Stop Losses. (-7% is better then -30%)
- Never Trade against the Trend.
Not Loosing Money is more Important than Making Profits.
I also support this points my friend These points that I have quote will help even a newbie trader to have a successful trade. Stoploss is important to include in trading because it gives the assurance that you still have balance left. And I like you saying not loosing money is more important than making profits. I will drop my smerit.
Issa56:
I really agree with your write up some people think trading is just all about buy and selling a coin that's why must people endup losing there funds. There are lot's of things you have to know first before going into trading and must of them are already listed above. The first thing you should avoid in Cryptocurrency is borrowing money to trade never borrow money to trade and always invest what you can afford to lose.
carlfebz2:
Pretty basic things and common suggestions when it comes to trading tips but the hardest part is on how to imply or apply it on oneself.
This isnt something that you can do it directly with just your first try out in dealing with the market.Your experience will be the once will be teaching you out and realize off
things along the way.
and this common line you bolded. Not Loosing Money is more Important than Making Profits.
When you are dealing with this market then its just normal you do make your best on not to lose money but some are way too perfectionist.
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