Don't encourage multiple trading!

[dansus021]

I usually open multiple trading and ending up losing  A liquidation call is a monster. Trading is risky and having multiple entries on different token/coin is much more riskier hahaha.

But I also have a friend that made a ton of profit by making multiple entries and do hedge when the market is against him. and he said they key is on how to manage your money, the classic mantra of trading Money Management but it is true even tho open a lot of position he total risk is still below 10% so he has a lot of money and low USDT per entry

[|MINER|]

My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade

It is true that some time multiple trading can bring much profit from a single trading . And earning from multiple trading will be possible only when it is in the right hands i.e. he should have enough knowledge about trading and analyzing it. And if it is interrupted, there is a possibility of loss. I generally also don't much like multiple trading because of it's hard to maintain at a time. Any way from single one it can be also possible to get a good profit it all trade in a right track.

[death69]

I usually open multiple trading and ending up losing  A liquidation call is a monster. Trading is risky and having multiple entries on different token/coin is much more riskier hahaha.

But I also have a friend that made a ton of profit by making multiple entries and do hedge when the market is against him. and he said they key is on how to manage your money, the classic mantra of trading Money Management but it is true even tho open a lot of position he total risk is still below 10% so he has a lot of money and low USDT per entry

Dude, I totally get it. It's like Jenga, but swap those wooden blocks for your life savings, wobbling on the edge of doom. But hey, "fortune smiles on the gutsy and the goofy." Alright, maybe that's not a real saying, but I'm working on it.

I mean, yeah, multiple entries can be dicey, but they up your odds to strike gold. It's like a sports nut betting on a bunch of games – you might lose some, but you could also score big time. And don't forget money management, bro. It's like being a top chef who knows how to mix the perfect dish – sure, lots of entries, but if you're smart with your cash, you'll still come out on top.

[Mauser]

My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade

Do you mean multiple trades within one asset or across multiple different coins? I don't really see the problem with running multiple trades and strategies in the bitcoin market as long as you can fully understand them, stay on top of them and most important you make money from them. But if you are running multiple strategies with different crypto coins than it could become too much to handle and staying uptodate in all the markets at once is difficult. In my opinion it's better to fully focus on one coin instead of spreading out our time and money if we are trading actively. In case we want to invest only and not touch our positions for a while, I would recommend to spread our money out. But in the end it comes down to what suits us best and where we are the most profitable. From what I read from you it sounds like your friend is struggling in his current setup and it would make sense to change his trading approach.

[justdimin]

4 trades at once is not that much but the tolerance level varies from one to another so if someone can't able to manage 4 trades at once in day trading then they can go for two and analyse they made profits or loss with the basic changes.

I will not recommend to different types of trading like futures and options, binary these are not really trading more of gambling so sticking with spot trading will reduce the risk to low.

Definitely not, back when I first got into trading and wanted to learn how to be better, I did as much as 50-60 trades per day, some of them profit, some of them losses but at least I was learning, the more I did the more I learned, both from the profits and also the losses as well, I learned more from the losses than I learned from the profits. However, there is one thing that I need to make sure, which is the fact that we are talking about something that takes a while and that should not be easy.

I personally hope that the best thing about crypto is that you could trade as little or as high as you want, and that would be your personal option. Do not limit yourself like OP says of course, but do not force yourself to trade more neither, if 4 is a lot, then it is a lot, no need to force it.

[cydrix]

I guess it's acceptable if he enjoys trading futures. Losses are inevitable for long-term traders, but they must stick on until the good times return. These times will undoubtedly arrive as the price of Bitcoin rises, and the market will undoubtedly follow Bitcoin and become positive at that time. Most cryptocurrencies mimic Bitcoin's price increase. Therefore, in my opinion, it's natural to incur losses because doing so can be a great learning opportunity and a chance to manage one's assets well.

[abel1337]

My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade

You can't advice it to anyone to stop doing multiple trade at a time. Though if you are talking to a newbie, I believe that trading a single coin at a time and familiarizing that certain coin at a time would be beneficial to him long term. Managing multiple trades is hard it's like that you are multitasking every time though it's a faster way of making profits if you know what you are doing. This is why long term traders or veteran traders doesn't stick with a single monitor thus they always have at least 2 or 3 monitors in their computer set up since it can help them watch every trades they are doing. A newbie trading a multiple coin at a time will just make it hard for him to understand what he is doing given that the information he is consuming is so much from his understanding and it can cause a losing trade.

[lombok]

In my opinion, opening many pairs when trading is not too problematic if you use very small capital per pair and use the DCA method. The problem is if we use capital, for example $ 1000 without using the DCA method and we use $ 50 to $ 100 per pair. So just wait in a matter of minutes or hours if we go in the wrong direction, we will lose our money.

The main problem is your strategy. Use as little funds as possible with existing capital. And limit the number of pairs when trading. 5 trading pairs, in my opinion, have entered a risky warning.

[wxa7115]

In my opinion, opening many pairs when trading is not too problematic if you use very small capital per pair and use the DCA method. The problem is if we use capital, for example $ 1000 without using the DCA method and we use $ 50 to $ 100 per pair. So just wait in a matter of minutes or hours if we go in the wrong direction, we will lose our money.

The main problem is your strategy. Use as little funds as possible with existing capital. And limit the number of pairs when trading. 5 trading pairs, in my opinion, have entered a risky warning.

Many books about trading stipulate the the biggest amount which a trader can allow themselves to lose on each trade is 2% and many books are even more conservative and claim only a 1% loss should be allowed.

So a person trading with a capital of 1000 dollars can only afford to lose 10 dollars per trade, however many books also limit the amount of positions you can open on the same market, and anyone which violates those two rules will come to eventually regret their decisions as their losses will become unsustainable.