Altryist
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September 08, 2022, 06:55:34 PM |
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I prefer to say it as financial management, it is something that every trader and investor should have. Then risk management, as you say - take small profits to avoid big losses. Risk management will definitely differ between traders as it depends on what strategy they use. Some traders do not want to take small profits because they believe that it is just a waste of time, they tend to wait for bigger profits. I'd say it's greedy, but it's fine as long as they understand what risks they're taking.
It would probably be fair to say here that you can expect a big profit on a trading if it is an investment in bitcoin or ethereum. If we are talking about altcoins, then even a small profit should be fixed, since the risks here are high. Fundamental long-term investments should be for fundamental coins like bitcoin, and everything related to altcoins should be under close control and with an understanding of the risks.
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ShowOff
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Play Poker on Telegram
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September 08, 2022, 09:06:56 PM |
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It would probably be fair to say here that you can expect a big profit on a trading if it is an investment in bitcoin or ethereum. If we are talking about altcoins, then even a small profit should be fixed, since the risks here are high. Fundamental long-term investments should be for fundamental coins like bitcoin, and everything related to altcoins should be under close control and with an understanding of the risks. It is true, and I have stated several times before that long-term investing is the best choice for anyone. I don't mind if people can benefit from their trading activities every day whether it's a scalping strategy or day trading, that's great especially if you master the strategy well. After all, traders are more likely to own altcoins than bitcoin because volatility and funds will largely determine their profits. Trading is a good way for those who are able to analyze the market both fundamentally and technically, but long-term investing is the best choice for those who cannot monitor small movements of the price all the time.
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justdimin
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 08, 2022, 10:20:52 PM |
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I prefer to say it as financial management, it is something that every trader and investor should have. Then risk management, as you say - take small profits to avoid big losses. Risk management will definitely differ between traders as it depends on what strategy they use. Some traders do not want to take small profits because they believe that it is just a waste of time, they tend to wait for bigger profits. I'd say it's greedy, but it's fine as long as they understand what risks they're taking.
It would probably be fair to say here that you can expect a big profit on a trading if it is an investment in bitcoin or ethereum. If we are talking about altcoins, then even a small profit should be fixed, since the risks here are high. Fundamental long-term investments should be for fundamental coins like bitcoin, and everything related to altcoins should be under close control and with an understanding of the risks. I agree, bitcoin and ethereum will give a good return, I would add BNB to that as well because that is a good coin too. However, anything other than that should be taken seriously because it could be a big loss to people if they are not careful. I know that people are used to investing into dozens of projects, but that would not be a smart decision if you focus on what you could do with the risky altcoins. I mean you could always invest into anything you want, just don't do it with huge amounts, put 90% of your money into btc, ethereum and bnb, after that you could invest that 10% into anything you want without worry because even if it becomes zero, the other 90% will recover that.
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kamvreto
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MAaaN...!! CUT THAT STUPID SHIT
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September 09, 2022, 09:57:14 AM |
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*Don't rush into any investment or trade without a safe financial plan. As this could save you from any form of financial wreck.
Well, of course, financial planning is very important, and to have clean support in regards to budget for trading. However, this is not how trading becomes profitable, what we just need to do is to have an effective trading strategy and knowledge as planning won't simply work without proper execution and turns useless. I'd say that it was very important to have all of these things works together in order to become successful otherwise, it is a failure. Perhaps, being smart traders have always a plan and are patient. need a process to be able to run all that, because not all traders can do it well. Trading knowledge becomes mandatory to know in advance in order to understand how market conditions are and apply it with a good strategy, and then financial planning or financial management is carried out to manage and distribute funds to carry out good investments and trades. without doing financial management, of course, you will not get satisfactory results because money only revolves around one asset. basically in this case the success of a trader can be determined by 3 things, namely psychological, money management, and analysis. The most affecting of the three is psychological, where many people fail as a result of panic selling, while with wrong financial management, of course, they will get less than optimal results, because we have to maintain the security of funds for the main thing. and technical analysis is precisely the thing that most traders are hunting for in order to master it, it is actually the smallest determinant of success among the others. and in essence these three things are equally needed and interrelated. if one is not used of course there will be risks that will occur. Psychology is included in being the final determinant when all strategies are applied. psychology can be well shaped with trading experience. Right now I'm even still learning how to manage my psychology so I don't panic too much with all market conditions and I'm also honing my skills in technical analysis.
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awik p
Full Member
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Pepemo.vip
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September 09, 2022, 11:38:54 AM |
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*Don't rush into any investment or trade without a safe financial plan. As this could save you from any form of financial wreck.
Well, of course, financial planning is very important, and to have clean support in regards to budget for trading. However, this is not how trading becomes profitable, what we just need to do is to have an effective trading strategy and knowledge as planning won't simply work without proper execution and turns useless. I'd say that it was very important to have all of these things works together in order to become successful otherwise, it is a failure. Perhaps, being smart traders have always a plan and are patient. need a process to be able to run all that, because not all traders can do it well. Trading knowledge becomes mandatory to know in advance in order to understand how market conditions are and apply it with a good strategy, and then financial planning or financial management is carried out to manage and distribute funds to carry out good investments and trades. without doing financial management, of course, you will not get satisfactory results because money only revolves around one asset. basically in this case the success of a trader can be determined by 3 things, namely psychological, money management, and analysis. The most affecting of the three is psychological, where many people fail as a result of panic selling, while with wrong financial management, of course, they will get less than optimal results, because we have to maintain the security of funds for the main thing. and technical analysis is precisely the thing that most traders are hunting for in order to master it, it is actually the smallest determinant of success among the others. and in essence these three things are equally needed and interrelated. if one is not used of course there will be risks that will occur. Psychology is included in being the final determinant when all strategies are applied. psychology can be well shaped with trading experience. Right now I'm even still learning how to manage my psychology so I don't panic too much with all market conditions and I'm also honing my skills in technical analysis. psychology occupies the largest percentage in determining trading success and the second determinant is financial management, this also has a big role in maintaining asset stability, thus keeping psychology calm. while TA is the third determinant, although trading techniques can be learned in a short time, but it will not necessarily guarantee our trading success without financial management and psychological management. so that all three can influence each other
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Hamza2424
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🇵🇰 Pakistan
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September 09, 2022, 05:55:13 PM |
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I would like to say and add something for your information as both pf terms you are going to start with you need to plan your investment ideas first let me explain with an example,
Imagine you own 1000$ on the behalf of investing all on the single assets is a big loss as if its Bull or Bear trend. Division helps you alot.
Invest 40% for a backup asset as a long term secure and stable trade. BTV is more likely what you need here now make a 20% investment in stable coin as if you need to buy from dips you need stable coins, now you want to trade you have 40% left in total now there are many types of trading now split it into 2 parts go for 30% in spot trade and 10 % in future if you are New to trading.
In a Experience case you can go for 20% / 20% ratio on both sides.
This is how you won't be in loss on any time you have good backup you have good stable coins to buy dips you have secure trading assets as spot and future both for staking you can with the Backup you have made to staking period 1 arrow two points.
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sulendra12
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September 09, 2022, 06:10:22 PM |
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* This may sound somehow to some persons but I'll still say it anyway, and that is, Take your health seriously for it's only he that is healthy can think of making profit and financial plans. No wonder they say, "health is wealth". ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) This one is actually I agreed the most, most of the traders nowadays are really easy to manipulate their emotions especially in trading. Hence when stuff is not going to be what they have expected then their emotions will be fucked, which makes everything becomes worse such as depression, stress, etc. Sure you may have bad day, that's an opportunity for us to learn the mistakes and come back once we are ready. Taking a break for a moment doesn't hurt you, there is always a chance for you to get profit.
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RockBell
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September 09, 2022, 10:51:45 PM |
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Make it a rule to regulate your expenses, don't just spend all because you desire to spend. The more you give into spending based on desire, unknown to you it will turn into a habit. So therefore, look inwards and eliminate any form of unnecessary expenses.
True don’t spend money to please anyone or for respect your spending should be base on you budget what you need at that particular time , I love this tip. This may sound somehow to some persons but I'll still say it anyway, and that is, Take your health seriously for it's only he that is healthy can think of making profit and financial plans. No wonder they say, "health is wealth".
Funny but heath is wealth what most some of us care about is money , careless not living a healthy life not eating properly and cleaning there environment , you have said it all so health is as important as looking for money.
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TelolettOm
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September 09, 2022, 11:41:10 PM |
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Funny but heath is wealth what most some of us care about is money , careless not living a healthy life not eating properly and cleaning there environment , you have said it all so health is as important as looking for money.
Health is important, no matter how much money we have, if we are healthy then we can enjoy it, can also manage it again to create more money and use it for the good of our lives and also other people. Indeed, health is one of the main spears in doing anything, including making money, it cannot be denied, that the two are closely related and influence each other. And this often happens, even though we have prepared ourselves and have tried to control our emotions, when the market goes far beyond predictions and makes us lose a lot, no matter how strong we are, there will definitely be feelings of depression, stress, confusion, and sadness. And this is very human as a human being. But the difference for each individual is how big and long our emotional level is and how we can do problem-solving for these uncontrollable emotions so that we can control and regain our sanity. However, even though this is difficult, we need to fix this and do it so that we remain alert and do not stress for long.
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BuNga_cute
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 10, 2022, 02:17:31 AM |
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* This may sound somehow to some persons but I'll still say it anyway, and that is, Take your health seriously for it's only he that is healthy can think of making profit and financial plans. No wonder they say, "health is wealth". ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) This one is actually I agreed the most, most of the traders nowadays are really easy to manipulate their emotions especially in trading. Hence when stuff is not going to be what they have expected then their emotions will be fucked, which makes everything becomes worse such as depression, stress, etc. Sure you may have bad day, that's an opportunity for us to learn the mistakes and come back once we are ready. Taking a break for a moment doesn't hurt you, there is always a chance for you to get profit. Many people when trading are too obsessed with profit, therefore when the market goes bad, it will make many people panic and make wrong decisions. After that in a state of stress most people still try to trade to cover losses that were previously experienced. That kind of thing will make the losses even bigger and eventually make us depressed, if trading like that. In fact, when trading our emotions must be controlled, so that we remain calm even though the market situation is deteriorating. And do not force trading if we are not in a good emotional state, because trading requires calm and high concentration, to be able to make the right decision. If our body condition is not healthy, there is no harm in taking a short break or doing positive activities that can make our emotions calm. In conclusion, our emotional state is very influential when trading. So to become a successful trader, it is not enough to just manage your finances well and also must analyze the market well too. But our emotions must also be well controlled, no matter how emotions affect our decisions in trading.
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abel1337
Legendary
Offline
Activity: 2492
Merit: 1145
Enterapp Pre-Sale Live - bit.ly/3UrMCWI
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September 10, 2022, 01:25:23 PM |
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* This may sound somehow to some persons but I'll still say it anyway, and that is, Take your health seriously for it's only he that is healthy can think of making profit and financial plans. No wonder they say, "health is wealth". ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) This one is actually I agreed the most, most of the traders nowadays are really easy to manipulate their emotions especially in trading. Hence when stuff is not going to be what they have expected then their emotions will be fucked, which makes everything becomes worse such as depression, stress, etc. Sure you may have bad day, that's an opportunity for us to learn the mistakes and come back once we are ready. Taking a break for a moment doesn't hurt you, there is always a chance for you to get profit. Many people when trading are too obsessed with profit, therefore when the market goes bad, it will make many people panic and make wrong decisions. After that in a state of stress most people still try to trade to cover losses that were previously experienced. That kind of thing will make the losses even bigger and eventually make us depressed, if trading like that. In fact, when trading our emotions must be controlled, so that we remain calm even though the market situation is deteriorating. And do not force trading if we are not in a good emotional state, because trading requires calm and high concentration, to be able to make the right decision. If our body condition is not healthy, there is no harm in taking a short break or doing positive activities that can make our emotions calm. In conclusion, our emotional state is very influential when trading. So to become a successful trader, it is not enough to just manage your finances well and also must analyze the market well too. But our emotions must also be well controlled, no matter how emotions affect our decisions in trading. Profit is one of the undeniable things that traders want but being obsessed with this can ruin the traders future trades. There are many factors but having an instable mental health can contribute a lot of problems even or real life. Bad management of emotion and other several factors can affect traders even on long term, I've develop a bad habit on trading before because of bad management and it cost me lot of losses and mental strains.
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Eternad
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September 10, 2022, 01:30:20 PM |
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Health is important, no matter how much money we have, if we are healthy then we can enjoy it, can also manage it again to create more money and use it for the good of our lives and also other people. Indeed, health is one of the main spears in doing anything, including making money, it cannot be denied, that the two are closely related and influence each other.
Before entering in trading, which we can’t guarantee profit better have saving first, insurance or health cards so in case something happen we will not be force to sell at low price our investments. Before we decide to enter trading we need to be prepare in some uncertainties or better have emergency fund to help us when the market isn’t going well. Especially if we overwork ourselves and end up being sick so better have healthcare coverage that can be use in checkups or operations without using our trading money.
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Mr. Magkaisa
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September 10, 2022, 02:39:13 PM |
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- Most of the people who have more capital make hasty decisions on their business investments. Often they don't study much first, as long as the money is out immediately, so the end result is if they are not taken advantage of, they lack a plan and goal target for the growth of their capital investment.
So I can say, this is also a good reminder to investors here in the cryptocurrency industry so that others know that entering here is not a joke and still needs other studies and caution anyway.
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KingsDen
Legendary
Online
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Goodnight, o_e_l_e_o 🌹
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September 10, 2022, 07:51:57 PM |
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- Most of the people who have more capital make hasty decisions on their business investments. Often they don't study much first, as long as the money is out immediately, so the end result is if they are not taken advantage of, they lack a plan and goal target for the growth of their capital investment.
What you said is very correct and it happened to me. There was when I had a very huge capital and I made so many hasty and wrong investments because there was fund. Though it was a newbie experience, but immediately the funds went down, I came back to my senses. It was one of the worse moments of my life but it has turned to an experience and that is why I have to agree with you totally. That made me not to be willing to make any investment. It is better you have savings, even if it's not bringing more money, but we are sure that it is there for you, rather than make some wrong investments that will clear up your hard earned money. The economy is not fair, and this is not time to give up money easily all in the name of investments.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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TheUltraElite
Legendary
Offline
Activity: 2982
Merit: 1312
So anyway, I applied as a merit source :)
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September 11, 2022, 04:18:41 AM |
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Most of the people who have more capital make hasty decisions on their business investments. Often they don't study much first, as long as the money is out immediately, so the end result is if they are not taken advantage of, they lack a plan and goal target for the growth of their capital investment. I have seen all type of users take hasty decisions, big capital owner not. It all depends on their mindset, those who are trying trading for the first time with a get-rich-quick mentality will take hasty decisions but not those who have been in the market for long and know how things work here. Financially, these things need to be learnt by traders before starting trading. The difference in a planned entry to a hurried entry comes in this place. Those who get their first coins by word of mouth from friends and internet celebs will be losing money if they continue the same. Of course the whales do need some idiots to dump on, so this thing will continue in every speculative market.
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Mauser
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September 11, 2022, 06:50:42 AM |
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*Endeavor to set a financial target for yourself and possible means to achieving it and also create room for adjustments just in case of obstacles but don't keep your focus away from your target. Mind you, sometimes you may not hit your target, but not to worry, cause financial target helps you to have track knowledge of your financial growth within a framed of time.
I think this is a very important topic when it comes to financial planning. It makes it so much easier to save money when we have a goal we are saving for. Setting a fixed budget should also include what we are going to do with the money in the future. Saving money each month only with the goal to become rich one day is way harder than if we a goal we are aiming for. This could be to save money for our children's colleague education, a house, a new car or even retirement. Like this we can visualise what we are going for in life and now when we make progress and how close we are to reaching it. Running a spreadsheet for all income and expenses is necessary to identify where we can save more money and what is our future income going to be. It's important to know how much money we can use for saving and how much money we need to have access to quickly. There needs to be a different assets we save in, some more risky and some less risky. The higher the risk the higher also the potential return we can make, but if we need money short term we could be forced to sell at a point and make a loss.
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palle11
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September 11, 2022, 07:05:06 AM |
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- Most of the people who have more capital make hasty decisions on their business investments. Often they don't study much first, as long as the money is out immediately, so the end result is if they are not taken advantage of, they lack a plan and goal target for the growth of their capital investment.
Investment is not just about having capital that is adequate or related to having too many many then you want to invest in anything that comes on the way, if investment is done without proper initiative and planning then the outcome is known which is failure. Therefore whatever money we have to invest whether being big or small, there is the need for proper planning. If you buy a shit coin that is to be dumped in few weeks after you buy it that means you didn't do a good plan and when the shit coin is dumped, you will run into loss in the investment.
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ethereumhunter
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September 11, 2022, 08:36:48 AM |
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Maybe each person will be different in preparing their financial plans because they also have differences in making money every month. But I'm sure they can make a financial plan for investment and not interfere with the list of other plans. The more we can put together a financial plan and execute it according to plan, the more definitely we can have a way to make money trading.
In trading, we must have a plan of how much funds we use so we do not cross the line. And don't forget to keep learning about trading because that's how we can improve our trading skills.
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
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Ziskinberg
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September 11, 2022, 11:29:01 AM |
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Perhaps OP, planning and execution are all we need to have a successful trading life as this it serves as a guide to where we do. But unfortunately, it found out that in many cases, we ruined our plan due to some reasons like discouragement, change of mind, and being impatient. We must have to know that there is no easy money in crypto, even though we have this plan it doesn't mean that we are already secure and surely make a profit, and to note that decision-making will also affect the results of our plan and this is mostly a reason why we fail.
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justdimin
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September 11, 2022, 05:03:40 PM |
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psychology occupies the largest percentage in determining trading success and the second determinant is financial management, this also has a big role in maintaining asset stability, thus keeping psychology calm. while TA is the third determinant, although trading techniques can be learned in a short time, but it will not necessarily guarantee our trading success without financial management and psychological management. so that all three can influence each other
Influence of psychology part is not that easy, not many people could control their own mental state and that results with them usually losing money. I believe that the best way to make money is to find a good working strategy and then keep doing that without any mistake. Simplest one I know is buying and holding, you may think it is simple but there are so many people who gets scared and sell when they wanted to hold and they lose money, whereas I get to keep it long term and always end up in profit, no matter what happens. Find the right strategy for you and keep doing that, eventually you are going to end up profiting a good amount without a worry, just do not stray away from it.
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