Before You Go All In

[Davidvictorson]

Many traders desire to begin their trading careers by becoming experts in the charts, as well as in strategies and other related topics. The problem is that this approach fails the majority of the time. So, I firmly advise that you have some form of reliable revenue flowing in before you begin your trading career, regardless of the method. A skill, a job, or a career, perhaps. It will be quite difficult for you to concentrate and actually advance in this trading adventure if you don't have that, which is why.  You need to anticipate that your emotional stability will be tested.

This is why I urge that before starting your trading journey, you need to have a hustle that pays you, get a job, or learn a skill. Begin anything that generates income so that you can devote a portion of it to your trading experience. And many of us have made a lot of mistakes along the way, and this is the antidote to that.

Start trading just after you are bringing in a certain amount of steady income. Take a percentage of this income, which could be $100, $500, or $1,000, and start your trading career. This will help your trading journey develop into a lovely experience in which you learn more quickly, peacefully, and at your own pace.

You will be able to grow faster , and in no time, you will see that you will become a much more better trader than if you go all in and you expect to use trading to solve all your problems. It won't happen because trading is a very competitive market and the volatility is so high that if you do not find some sort of a balance , it will eat you up.

1 www.lifehack.org/927411/digital-brain-second-brain
2 www.forexstrategymaster.com/doc_index.php

[1714708000]

1714708000

[naikturun]

that's nice, but sometimes if someone enters the market in the right conditions he will be very lucky and make a very big profit.
but after that moment they will continue and start losing their luck.
I think one has to get used to losing or winning situations, so they can control their emotions to be more stable.

[Oshosondy]

You will be able to grow faster , and in no time, you will see that you will become a much more better trader than if you go all in and you expect to use trading to solve all your problems. It won't happen because trading is a very competitive market and the volatility is so high that if you do not find some sort of a balance , it will eat you up.

You mention percentage, you stated amount. It would have been better if you stated it in percentage, like trading with less than 10% of weekly income, or even less if someone just started to trade, because new traders are prone to fail while they will learn more from experience.

Also it is good to mention that trading is not for everyone, if someone keeps losing again and again and again, the person should not trade again, or change to swing trading in a way that the market would have falled very well enough before he buys a coin or open long position.

[Bushdark]

Just like you have written, trading requires us to have other sources of income for us to relax and trade without having high blood pressure. If we trade having other sources of income, we are not going to be affected by small loses or bad day that might influence out trading lifestyle. A lot of traders had been having a day trade because they solely depends on  trading as source of income which is nit supposed to be so. This will have a lots of effect on us and if not been too careful we might keep losing and entering into the market with fears.

[jossiel]

Those are good advises. Someone may think that it's too much but that's the reality in trading, you may expect to get some profits in the future but you have to go through with a lot of pain before going there.

And that's all about losing more, you'll have a lot of pains and losses before going to those successful trades.

That's why before going there, you need to prepare yourself not just emotionally but also financially and that's the real thing in trading unless you only want to try it with little money.

[palle11]

which could be $100, $500, or $1,000, and start your trading career. This will help your trading journey develop into a lovely experience in which you learn more quickly, peacefully, and at your own pace.

In trading I don't think that the amount used doesn't really matter if you know how to manage it because what matters is consistent profit. If you make 1% of profit consistently in a month then you may have made around 30% of $50 for instance and if you have been losing 1% of $50 in a month,you would have lost also 30%. The difference is how we can manage whatever capital we have and it is better for a new trader to start with little capital for the reason of mistakes and learning.

[nara1892]

which could be $100, $500, or $1,000, and start your trading career. This will help your trading journey develop into a lovely experience in which you learn more quickly, peacefully, and at your own pace.

In trading I don't think that the amount used doesn't really matter if you know how to manage it because what matters is consistent profit. If you make 1% of profit consistently in a month then you may have made around 30% of $50 for instance and if you have been losing 1% of $50 in a month,you would have lost also 30%. The difference is how we can manage whatever capital we have and it is better for a new trader to start with little capital for the reason of mistakes and learning.

If we want big profits, then our capital must also support it. However I agree more with consistent gains exactly as you say. Even small capital will continue to grow if we can get consistent profits. In my opinion, we should not be greedy to get big profits, because surely that will spur our ambition to make a mistake that will cost us later. So it's better to make profits but be consistent, than to get big profits but be inconsistent. But if we are able to do both, that's not a problem, as long as we feel we are capable of doing that, meaning that there should be no doubts that we feel.

[molsewid]

I agree, and also we need to have a proper enough money to trade. It is good to have a money that you can deposit anywhere you want. Sometimes, if you are into trading there will be some time you will regret not having extra money to invest because you have a limited fund. If you will pursue your career in trading aside from financial stability we need to have a emotional stability as well.

[Yawa2020]

Without having a job or skills, I don't think it would be possible to even start trading. How will you generate money to start trading if you have no paying job or skill that's paying you? We already know it's not ideal to take loan and start trading. So for one to even think of of becoming a trader means that one has a source of income and what now matters is the percentage to set aside for the trading.

[carlfebz2]

The key on here is not to "RUSH UP".

Usually people do really have this kind of target or aim specially when they are really just that starting.They would really be having that kind of aggressiveness towards on money making
and even thinking that this would really be just an easy thing for them to achieve.On the time comes on which they would really be on the battle field or actual trades then this is where
they do commit and experience huge losses just because they didnt really even bothered to learn up with the basics.This is where mistakes would piled up to each other
until you would be losing up hope on doing trades.

[Zaguru12]

Without having a job or skills, I don't think it would be possible to even start trading. How will you generate money to start trading if you have no paying job or skill that's paying you? We already know it's not ideal to take loan and start trading. So for one to even think of of becoming a trader means that one has a source of income and what now matters is the percentage to set aside for the trading.

Not everyone actually think this way, the narrative of coming into cryptocurrency trading that some people had is that one could get rich and doesn’t need a job or another business. This narrative made some people invest all their savings into it and also quitting their jobs to focus the entire day looking at charts. They even pay for lessons and classes or for signals. This has worked for some early traders and there current holdings doesn’t need them to find jobs but the problem is new traders having this same mindset is why we see people selling off precious physical assets to get into trading.

If we want big profits, then our capital must also support it. However I agree more with consistent gains exactly as you say. Even small capital will continue to grow if we can get consistent profits. In my opinion, we should not be greedy to get big profits, because surely that will spur our ambition to make a mistake that will cost us later. So it's better to make profits but be consistent, than to get big profits but be inconsistent. But if we are able to do both, that's not a problem, as long as we feel we are capable of doing that, meaning that there should be no doubts that we feel.

The ideology to gain big profits should only be prioritized by an experienced trader. A new trader coming should actually limits the entry price small let’s say 20% of his wage into. Someone starting with lower amounts could definitely be patient in making any moves during trading but one with a higher entry amount will be looking at getting his profit high and could lead to mistakes that could blow up the enter funds

[omgitsmehehe]

that's nice, but sometimes if someone enters the market in the right conditions he will be very lucky and make a very big profit.
but after that moment they will continue and start losing their luck.
I think one has to get used to losing or winning situations, so they can control their emotions to be more stable.

Recording losess and profits are the two basic functions that triggered a trader to either be good with the market or get even worsen when recording losses. Trading is not for the weak but with implemented setups, there's high chance of gaining from the market but we should bear in mind that not all times we wins, there are tough times in the market were we make losses in a row, all these sections are parts of learning. We should be in a stable emotions before opening trade, most of us triggered trades with the wrong impression, getting revenge from our past losses.

[bettercrypto]

Everything that was said in the article you gave is good, and I agree a bit. Because of the topic that you have done, it just proves that entering crypto trading or even any trading business is not something that can be done lightly even without knowledge or idea but just thinking that it is easy to make money.

       It just proves that it really takes enough knowledge to enter the trading industry either crypto or Forex. You really need to spend time and time, it's not just overbite and the next day you know everything.

[AakZaki]

not many have such thoughts in trading. Those who suddenly come and want to trade with their money, just want to get big profits instantly. Even though the initial goal was wrong and would even be at risk of the capital they used. no management is carried out, no strategy is made so that losses will dominate more.
and some of them also use Futures trading for a faster way to get profit, even though it is a deep abyss when you can't do proper analysis.

[shinratensei_]

I really agree with this statement, having steady income first will ensure that we will have emotional stability which helps in keeping our decision logical, even if we lose we could always make it up next month since we've got income anyway. I've witnessed many that take a loan and do it for trading, they thinks they are chosen one that gonna score billions but the truth is they aren't that chosen one, it's always good to have some backup plan since trading and investing always could go wrong, having income will save you from being totally bankrupt, at the very least you could have the chance of retrying again since you've got that income flowing in. otherwise you'd have a really hard time dealing with fulfilling your basic needs if you've got no money left since the trading takes away all your money.

[yhiaali3]

It is true that this is what actually happened to me, when I entered trading with all the capital I bought more than one coin but the prices started to fall and I no longer had enough money to consolidate and I had no other resource than the capital so I had to abandon some deals at a loss so that I could continue.

As for now, I enter with a small part of the capital and I have a resource sufficient for reinforcement in the event of a price drop (I can add a new amount of capital every week through my work), so I no longer have to sell at a loss when the price drops, but rather I strengthen every time and so I get the opportunity to buy Good price areas.

[hd49728]

It is true that this is what actually happened to me, when I entered trading with all the capital I bought more than one coin but the prices started to fall and I no longer had enough money to consolidate and I had no other resource than the capital so I had to abandon some deals at a loss so that I could continue.

Don't have money to dollar cost averaging is bad but it is not the worst. The worst is if you go all in with your investment like invest in cryptocurrency and don't reserve any money for your life, you will repeat this style with your investment in cryptocurrency. By go all in with one coin that can be either Bitcoin, Ethereum, BNB, Dogecoin or any shit token is shilled as hidden gem.

As for now, I enter with a small part of the capital and I have a resource sufficient for reinforcement in the event of a price drop (I can add a new amount of capital every week through my work), so I no longer have to sell at a loss when the price drops, but rather I strengthen every time and so I get the opportunity to buy Good price areas.

Always be skeptical with the market and reserve part of your money for DCA and other things. You won't have to time in market, find bottoms and always have money to use in emergencies without have to forced sell your cryptocurrency at lower prices than your entries.

[bittraffic]

It is true that this is what actually happened to me, when I entered trading with all the capital I bought more than one coin but the prices started to fall and I no longer had enough money to consolidate and I had no other resource than the capital so I had to abandon some deals at a loss so that I could continue.

Don't have money to dollar cost averaging is bad but it is not the worst. The worst is if you go all in with your investment like invest in cryptocurrency and don't reserve any money for your life, you will repeat this style with your investment in cryptocurrency. By go all in with one coin that can be either Bitcoin, Ethereum, BNB, Dogecoin or any shit token is shilled as hidden gem.

As for now, I enter with a small part of the capital and I have a resource sufficient for reinforcement in the event of a price drop (I can add a new amount of capital every week through my work), so I no longer have to sell at a loss when the price drops, but rather I strengthen every time and so I get the opportunity to buy Good price areas.

Always be skeptical with the market and reserve part of your money for DCA and other things. You won't have to time in market, find bottoms and always have money to use in emergencies without have to forced sell your cryptocurrency at lower prices than your entries.

It's often our mistake when we go start learning to trade. We are excited and hopeful to make money not knowing completely how the market works.
But that also means those guys who go trading without much experience are the bold ones. And Fortune favors them right when they learn 

I'm sure the majority who did trading without income flow learned well from past experience. But if they learned from reading advice threads like this, they may be saved from unfortunate events.

[Strongkored]

I thought the meaning of the title was all in in trading using the capital we deposited on the stock exchange but apparently not.
I agree with what Op said, it would be very difficult to make trading a productive activity, while we don't have any other income that can cover all our needs, because trading is not an activity that definitely makes money, sometimes traders will experience losses when the market works opposite with what was predicted.
But unfortunately many new traders think that trading is a job that is guaranteed to pay off because they are poisoned with advertisements and content from traders who provide wrong information which in the end will only make new traders wrong about trading.

[Reatim]

that's nice, but sometimes if someone enters the market in the right conditions he will be very lucky and make a very big profit.
but after that moment they will continue and start losing their luck.
I think one has to get used to losing or winning situations, so they can control their emotions to be more stable.

and you must not put emotion when trading , also best to get out once you already seen earning and never deal with greediness because there are so many factors that will change the momentum and you will be the one that could be responsible for anything that will come along the investment process.

Going All In is one stupid thing for me considering how much risk we must put in crypto investing, better to buy only the coins with diversification .