Few Steps To Avoid Losses In Trading.

[Nrcewker]

Summary: Your profit must be greater than your losses if your a good trader so trade with wisdom.

This statement is very difficult to understand for a Newbie in Trading.
Many newbies consider this in their earlier stage of trading, for which they face huge losses.
They forget the basics of trading and in anxiety they take wrong steps while choosing the perfect coin and perfect time.

All the above mentioned points by the OP is well written, but I would like to emphasize on one specific point.
Always choose the right exchange or trading platform.
I have seen many newbies joining scam exchanges due to it's attractive marketing and hence losses their money.
At last I wish all the traders to make huge profit and live like a King's life.

[TheUltraElite]

Knowledge about trading should be changed to knowledge when and how to trade. But I guess the OP wanted the same idea to be told. Most people know what is trading but don't know how to.

While shitcoins are traded way more than bitcoin, it is the only method to knowingly get stressed on trading. If newbies make it a point to do dummy trading first and then avoid shitcoins all together, they should be able to gather more profits over time.

However it is time-dependent. No method is fullproof and trading is a long term dynamic game.

[Yamifoud]

3) Master Your Trading Strategy: Traders who make huge profits in trading have one secret which they do not share that is their trading stategy. They master one trading pattern and they work with it, when you master your strategy, you will trade with confidence you will jump around looking for signals or analysis before trading.

Note: Stick to what works for you.

And that is why I don't believe and trust signal groups pretending they will give you tips on how to earn more in trading as these people won't tell you their secret.

In trading, it is not necessary to have multiple strategies in order to earn, we'd rather choose at least 1 if we know this is effective and really it works for us. Indeed, mastery is very important to work it perfectly and increase our chance to make a profit rather than losses. As we focus on a single strategy, the more it gives us confidence that we could perform better and the results are great.

[blackened515]

The OP have outlined good steps Which I think will probably be of great help to traders, especially Newbies. But, I will like to add something. Traders should always trade the amount they can afford to lose.
Also, is important to control greed when trading. Because, greediness have been the downfall of many traders. They usually trade out of greed, Which lead to them losing huge amount of money in the market.

[Sterbens]

Knowledge about trading should be changed to knowledge when and how to trade. But I guess the OP wanted the same idea to be told. Most people know what is trading but don't know how to.

While shitcoins are traded way more than bitcoin, it is the only method to knowingly get stressed on trading. If newbies make it a point to do dummy trading first and then avoid shitcoins all together, they should be able to gather more profits over time.

However it is time-dependent. No method is fullproof and trading is a long term dynamic game.

Now I ask myself how the market that is in an uncertain condition is currently reaching people who are even beginners who actually focus on Shitcoin. LOL
Do they still expect crazy profits? Besides being dangerous, they have never learned how difficult it is to avoid big corrections if their finances are still stored in Shitcoin. Maybe only a few cents, in Bitcoin exploring long-term trade will be more effective, but for Shitcoin there is no safe way.

[molsewid]

Let me add one more

Do not trade with shitcoins

If you trade with shitcoins, it can be the beginning of losses, if the trade does not favour you, you could have lost most of your trading funds until you realize what shitcoins are.

Some coins are also just like not rising during bull run but continue to be stagnant or fall, until the bear crypto begin and the shitcoin continue to fall more than others. That would indeed be a pain in the ass.

True, shitcoin has no basis of trust. They are just hype, though not all. Betting on shitcoin is a gamble that has no solid foundation. There are two possible, profit and loss but may be mostly losses. If you are not ready to lose then do not buy shitcoin. Many people are just speculating against shitcoin he chose it like gambling.
If it keeps going up then it will be very strange you have to be wary of it could be just manipulations like Squid Game. Then many altcoins that go up and down it will be a little reasonable because it is crypto like that, by utilizing it we can benefit.

I agree with this, do not trade shitcoins, most people nowadays buy and trade shitcoins they didn't know this because they only believe to what they only see in the influencers they are following, they didn't know that most of it are only good for pump and dump, we should learn to educate ourselves so that we can choose better token that will last for long not for shorter time.

[Alisha-k]

The OP have outlined good steps Which I think will probably be of great help to traders, especially Newbies. But, I will like to add something. Traders should always trade the amount they can afford to lose.
Also, is important to control greed when trading. Because, greediness have been the downfall of many traders. They usually trade out of greed, Which lead to them losing huge amount of money in the market.

Trading an amount one can afford to lose is just the sole guide against so much losses. In trading loses are inevitable so to manage this loss and ensure winning has a greater percentage the best solution is just that simple line of word trading an amount one can afford to lose. Anything done out of greed is gambling

[livingfree]

Anything done out of greed is gambling

And it's the riskiest strategy that one can do.

That's one way to have more losses if you're not careful with what you're about to do. Do not be greedy and it's important to have your mind on set with that thinking.

Because you're going to protect yourself from such greediness and you're being aware that it's not the way how a trader should do.

[gabbie2010]

When I started working with a broker from AMarkets, first of all I worked on a demo account. This helped me avoid losses, at least large ones.

Trying a demo account first is a big help for you to familiarize yourself on the platform that you are going to use, but if you don't know how to use indicators then it will be useless later on since you can still lose money especially if you don't have enough knowledge yet. Trading is something that you should take seriously, your money is at stake here and you can lose more if you do this carelessly, this is why its good to know these steps before trading, this can remind you to do everything so you can avoid losing money.

Demo trading is very important for any newbie in crypto trading to get started though it is not a real live trading however it has helped a lot of newbies in having a real taste of trading and whatever mistakes or little adjustment that is needed can also be corrected, however some newbies don't subscribe to the idea of demo trading first, rather they prefers live trading unfortunately get liquidated within a very shortest period of time, I always advice any newbie to learn and practice crypto trading via demo trading.

[Lanatsa]

When I started working with a broker from AMarkets, first of all I worked on a demo account. This helped me avoid losses, at least large ones.

Trying a demo account first is a big help for you to familiarize yourself on the platform that you are going to use, but if you don't know how to use indicators then it will be useless later on since you can still lose money especially if you don't have enough knowledge yet. Trading is something that you should take seriously, your money is at stake here and you can lose more if you do this carelessly, this is why its good to know these steps before trading, this can remind you to do everything so you can avoid losing money.

Demo trading is very important for any newbie in crypto trading to get started though it is not a real live trading however it has helped a lot of newbies in having a real taste of trading and whatever mistakes or little adjustment that is needed can also be corrected, however some newbies don't subscribe to the idea of demo trading first, rather they prefers live trading unfortunately get liquidated within a very shortest period of time, I always advice any newbie to learn and practice crypto trading via demo trading.

Demo trades are just good for familiarization in terms of indicators and other chart related thing or tools so that you do at least know on how to make use of them but for me the best thing to practice out yourself is on

dealing with actual balance or real ones on which you would really be that keen or careful on making step or decisions since you do know that you are dealing with real funds unlike when you are doing demo

where you wont really be stressing out yourself or not making yourself to be that in serious since you know that you cant or wont lose nothing.

[justdimin]

do not trade shitcoins, most people nowadays buy and trade shitcoins they didn't know this because they only believe to what they only see in the influencers they are following, they didn't know that most of it are only good for pump and dump, we should learn to educate ourselves so that we can choose better token that will last for long not for shorter time.

Trading shitcoins is seriously the biggest pit that people fall for and that is something to avoid big time for most people. I personally believe that the best case for all of us would be to make sure that we know what we are doing and trading the known and good coins that have strong volume.

I remember a friend tried to make money with a coin that had about 200-300 dollar volume. It was literally just one persons pocket money valued volume but he tried it only because he believed that he could turn that low volume to his advantage, then one day he lost it all because some whale came in and swept the floor with him using his money.

[Vaculin]

Let me add one more

Do not trade with shitcoins

If you trade with shitcoins, it can be the beginning of losses, if the trade does not favour you, you could have lost most of your trading funds until you realize what shitcoins are.

Some coins are also just like not rising during bull run but continue to be stagnant or fall, until the bear crypto begin and the shitcoin continue to fall more than others. That would indeed be a pain in the ass.

You are not knowledgeable in the first place if you end up investing and trading with shitcoins. Although they may be profitable at first, but their value eventually drop as time goes. That makes them not suitable for long term hodling and trading. However, if you want to maximize your profits in trading, always go with bitcoin and established altcoins as their value appreciates more than your preferred shitcoins, so you can expect that you can trade them at a more decent value.

[molsewid]

Anything done out of greed is gambling

And it's the riskiest strategy that one can do.

That's one way to have more losses if you're not careful with what you're about to do. Do not be greedy and it's important to have your mind on set with that thinking.

Because you're going to protect yourself from such greediness and you're being aware that it's not the way how a trader should do.

I don't know how can greed affects the trade but if you are having a profit in your trades better to pull out your capital or your initial investment then let your profit run especially if you are trading shitcoins,traders are usually buying it for a pump and then dump scenario. Trading these coins won't last for a week, if you want for a long term hodl don't buy shitcoins.

[Desmong]

There are so many steps that can really help a trader to actualise what they really want to get in trading. Trading is like a career we don't need to rush it. It need consistency and more reading of books and interaction with successful traders to get the hint to become a good trader. The market is falling now and is those that know more information about the market that get the signal of what the market is capable of doing before that time comes.

[arwin100]

Anything done out of greed is gambling

And it's the riskiest strategy that one can do.

That's one way to have more losses if you're not careful with what you're about to do. Do not be greedy and it's important to have your mind on set with that thinking.

Because you're going to protect yourself from such greediness and you're being aware that it's not the way how a trader should do.

I don't know how can greed affects the trade but if you are having a profit in your trades better to pull out your capital or your initial investment then let your profit run especially if you are trading shitcoins,traders are usually buying it for a pump and then dump scenario. Trading these coins won't last for a week, if you want for a long term hodl don't buy shitcoins.

Greed usually occur when a trader think that their coin hold will pump more and usually we get trap on this situation especially if the price starting to dump then we still have a faith that we see more pump. That's why we need to avoid this feeling and avoid to feel regret on profit we  can possibly get then always remember that profit is profit so that we can earn and not to lose our capital on trading.

[Vaskiy]

Anything done out of greed is gambling

And it's the riskiest strategy that one can do.

That's one way to have more losses if you're not careful with what you're about to do. Do not be greedy and it's important to have your mind on set with that thinking.

Because you're going to protect yourself from such greediness and you're being aware that it's not the way how a trader should do.

I don't know how can greed affects the trade but if you are having a profit in your trades better to pull out your capital or your initial investment then let your profit run especially if you are trading shitcoins,traders are usually buying it for a pump and then dump scenario. Trading these coins won't last for a week, if you want for a long term hodl don't buy shitcoins.

Greed usually occur when a trader think that their coin hold will pump more and usually we get trap on this situation especially if the price starting to dump then we still have a faith that we see more pump. That's why we need to avoid this feeling and avoid to feel regret on profit we  can possibly get then always remember that profit is profit so that we can earn and not to lose our capital on trading.

For this reason it is always good to fix a target price and go for a sell order. Most of the users who were in the market during the 2017-2018 will know better about this. Because everyone were just enjoying the regular growth and suddenly the market bounced big. This Increased the expectation and everyone kept holding. None believed the ath to be the peak and kept holding, finally missed the profit. When the trade brings in 20-30% profit be happy with it. Don't expect much and miss everything.

[GreatArkansas]

There are so many steps that can really help a trader to actualise what they really want to get in trading. Trading is like a career we don't need to rush it. It need consistency and more reading of books and interaction with successful traders to get the hint to become a good trader. The market is falling now and is those that know more information about the market that get the signal of what the market is capable of doing before that time comes.

Trading also for me is skill one. There are a lot of people trading because of luck and I believe that they will not become successful traders if they are only believing in luck in trading, as some people said trading is gambling, which I totally disagree with.
There are a lot of successful traders now that become dedicated to learning how to trade and they can easily say that trading is gambling? Very no.

[Kasabus]

Let me add one more

Do not trade with shitcoins

If you trade with shitcoins, it can be the beginning of losses, if the trade does not favour you, you could have lost most of your trading funds until you realize what shitcoins are.

Some coins are also just like not rising during bull run but continue to be stagnant or fall, until the bear crypto begin and the shitcoin continue to fall more than others. That would indeed be a pain in the ass.

I think it's not good to stay away from trend. We know that shot coins is high risky tokens but if you find any best projects with huge community then it can be game changing investment also. My friend invested only 10$ on Shib and then withdraw 5000$ when list on binance. I myself made 5000$ above from Shitcoins but one thing should not be forgotten that use only 2-5% portfolio for Shit coins.

If you can stay profitable investing in shitcoins, then why not? After all, its certain to us that shitcoins can give us huge profits even in a short period of time, but we should also take caution and learn to monitor more the market as well so that we won't end up selling them in loss. Smart people never stop themselves from investing in shitcoins, but somehow they are quick enough to determine when those shitcoins become not profitable anymore.

[Slow death]

Let me add one more

Do not trade with shitcoins

If you trade with shitcoins, it can be the beginning of losses, if the trade does not favour you, you could have lost most of your trading funds until you realize what shitcoins are.

Some coins are also just like not rising during bull run but continue to be stagnant or fall, until the bear crypto begin and the shitcoin continue to fall more than others. That would indeed be a pain in the ass.

I think it's not good to stay away from trend. We know that shot coins is high risky tokens but if you find any best projects with huge community then it can be game changing investment also. My friend invested only 10$ on Shib and then withdraw 5000$ when list on binance. I myself made 5000$ above from Shitcoins but one thing should not be forgotten that use only 2-5% portfolio for Shit coins.

If you can stay profitable investing in shitcoins, then why not? After all, its certain to us that shitcoins can give us huge profits even in a short period of time, but we should also take caution and learn to monitor more the market as well so that we won't end up selling them in loss. Smart people never stop themselves from investing in shitcoins, but somehow they are quick enough to determine when those shitcoins become not profitable anymore.

shitcoin is something like playing the lottery, the difference is that with shitcoins the person has the chance to be able to do research and determine if the project has a greater or lesser chance of being a success and of course the person does not lose all the money like in the lottery, in the case of shitcoin the person will lose part of the money so I think that if the person only uses the money they can afford to lose then I don't see anything wrong with investing in honest projects that have some potential to increase price

[livingfree]

Anything done out of greed is gambling

And it's the riskiest strategy that one can do.

That's one way to have more losses if you're not careful with what you're about to do. Do not be greedy and it's important to have your mind on set with that thinking.

Because you're going to protect yourself from such greediness and you're being aware that it's not the way how a trader should do.

I don't know how can greed affects the trade but if you are having a profit in your trades better to pull out your capital or your initial investment then let your profit run especially if you are trading shitcoins,traders are usually buying it for a pump and then dump scenario. Trading these coins won't last for a week, if you want for a long term hodl don't buy shitcoins.

You probably have experienced it when you're too greedy and have awaited for more to make your profits higher, you didn't actually pull it out because you're waiting for the bigger profits to come.

That's how it affects it, whether it's just a little profit and you're not greedy and satisfied, you're happy to cash the profits out because you're good and satisfied with how much you've gained.