nur rochid
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April 05, 2023, 08:20:34 AM |
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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 . going all in if I don't think there is anything wrong with bitcoin, which usually invites risk because we invest in new altcoins, with the hope of having big profits. therefore the need for diversification in the hope of minimizing risk, because it places several coins. but when the price is bullish we have to keep thinking logically so we are not greedy in taking profits, because at any time the price can fall quickly and of course we regret it
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Aanuoluwatofunmi
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April 05, 2023, 04:49:41 PM |
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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.
Good advice, one must have two or more financial means that will support the inflow of the trading income one is having, also we must know that trading also has it own shortfalls, you may be loosing for few consecutive days because you cannot be accurate at all times and being on point, this are the things that every beginners must know before trading, it involves taking risk and having enough patience, it also takes time and effort to study the trading patterns and speculations on bitcoin price, so having a clue on what's ahead is as good as avoid making future mistakes.
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Oneandpure
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April 05, 2023, 05:15:44 PM |
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I agreed with your trading technique how to manage fund when start trading exactly for beginner, its right way when having $1000 don't all in for one altcoin for trading with the same price. I have follow with this strategies how effective trading spent three until four kinds of price when entry on some coins.
I spent each $300 if having fund $1,000 for trading and not all in at the one coins, I think is very effective how anticipation when price going drop and have potential get chance on another time when our coins trading price drop. If all in on the same price $1000 seems not effective when price going drop we loss chance to reinvesting with lower price.
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crwth
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April 05, 2023, 05:44:27 PM |
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It can sometimes be about how well you can trade and how reliable it could be. Another question in mind is if you are capable of it as well. You will not be able to do that entirely if you were not built like it or haven't had the chance to learn it because you will surely be able to if you manage to do it.
There should always be an emergency fund in case you cannot capitalize on trading and suddenly need some money. It would be best to try it before going all in.
The best knowledge and thing to do is to have that "risk management" that everyone should know.
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Inwestour
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April 05, 2023, 06:26:14 PM |
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It is not clear why the topic is called all-in, but the essence of your post is clear, you need to trade with your own money, and not with borrowed money. I thought in this topic you would touch on the issue of proper risk management, when you can't to make a deal on the entire trading deposit, this is probably closer to understanding all-in.
But just like you can't trade with borrowed money, you can't trade all-in, as this can deprive you of your entire trading deposit even faster. I once watched an interview with one trader who worked for an investment company, the point was that the company accepted deposits from investors, and this trader was an employee of this company and traded this money. It all looks very dumb, but even this happens. And the depositors did not suspect anything of what great risk their investments lend to. This company of course failed and closed, because the rule was broken and trading was done with borrowed money.
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blockman
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April 05, 2023, 06:43:10 PM |
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going all in if I don't think there is anything wrong with bitcoin, which usually invites risk because we invest in new altcoins, with the hope of having big profits. therefore the need for diversification in the hope of minimizing risk, because it places several coins. but when the price is bullish we have to keep thinking logically so we are not greedy in taking profits, because at any time the price can fall quickly and of course we regret it
It is not guaranteed that you minimize the risk when you diversify. You're even attracting greater risks towards your way of trading and investing. But as said, that's to each their own. And we're all agreeing on one thing and that's when we profit, one must take it and don't forget to do it. Many have done thinking that they should take it only when they're seeing huge profits instead of little ones but then, they're missing the whole point of it and then actually misses the chance to make profits and instead, they're getting losses as that moment of potential profit on them was ignored.
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el kaka22
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April 05, 2023, 08:16:30 PM |
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This is a good idea, if you end up with some sort of steady income, that means even if you lose all of your trading capital, then you would be able to live off from the salary that you have. I mean I have supported this for so long, I have talked about this for many years as well. I said that long term investment and income are the two most important things anyone can do. Have a job, and put some of that into bitcoin and that would be the coolest way to live.
After you done both those, save some aside for trading as well and then trade with it, if it goes to zero then it won't matter because you still have an income and you still have bitcoin aside anyway.
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Hamphser
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April 05, 2023, 08:28:57 PM |
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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.
When you do have this kind of initial impression then you would definitely find it sooner or later on what are the things that would really be happening.It might sounds to easy or basic but it isnt something that you could be able to deal or attain specially on making yourself that sustainable on a market which is really that unpredictable and way too random.If you could be able to do so then consider yourself to be a real trader on which not all would be able to acquire such skill so easily and it does really takes time and lots of efforts before you do achieve out this one. Going all in is never that kind of a good habit or behavior because you cant really be able to assure out that it is really that something that you could make sure that it would really be that a precise approach.
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Kgdktac
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April 05, 2023, 08:29:47 PM |
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I agree with your advice. Trading can be a very emotionally and mentally challenging endeavor, especially when you are just starting out. It is important to have a steady source of income to rely on so that you can approach trading with a clear and calm mind.
it is important to approach trading with a balanced mindset and to have a solid foundation of financial stability before diving in. This can help set you up for success in the long run.
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Ndabagi01
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April 05, 2023, 11:55:51 PM |
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One of the most difficult challenges you'll face while trading is having your emotional stability tested. Those who are unable to control their emotions will leave the market quickly and heartbroken. Depending solely on the profits from trading is a big risk that everyone should avoid when entering the trading market. The market's volatility is enough to put your emotional stability to the test, as is your reaction to such incidents.
Consider your trading experience to be a side hustle, distinct from your regular monthly or weekly income. If you don't have a steady source of income, it's best not to trade for fear of losing everything and having nothing to fall back on. Money invested in trading should be regarded as money that we are willing to lose if the trading doesn’t go well.
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freedomgo
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April 06, 2023, 03:41:23 AM |
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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.
If you trade using your extra money, and not those funds that will be used later on, you will have your peace of mind and emotional stability when trading. Unlike when you are trying to trade when your funds are not yet ready, you will always be pressured not to lose so you will lost your focus and get easily destructed with your emotions. In the end, you will lose your trade and regret wishing you did not trade when your finances and emotions are not yet stable.
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Lorence.xD
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April 06, 2023, 04:26:01 AM |
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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.
If you trade using your extra money, and not those funds that will be used later on, you will have your peace of mind and emotional stability when trading. Unlike when you are trying to trade when your funds are not yet ready, you will always be pressured not to lose so you will lost your focus and get easily destructed with your emotions. In the end, you will lose your trade and regret wishing you did not trade when your finances and emotions are not yet stable. Its never a good choice to invest money that you'll be needing soon. Not only that it will have an impact to your mental and emotional stability, but also your financial status. Where will you get funds for your everyday needs? Debt? Then it will just worsen your situation, it would be better to not risk the money that you're not afford to lose. If you might do, then its more like a gamble to profit or not. Still not a good practice to entrust your money in risk, luck won't save you because it wouldn't be always by your side. Earn first then your extra money would be a good investment in a volatile situations.
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irhact
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April 06, 2023, 05:17:43 AM |
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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.
Things work differently for people, something might suit you but it doesn't suit me. We have people that becomes successful only when they're under pressure and we also have those that don't do well under pressure which are the majority in the world. This set of people are those this advise is meant for because when they don't have other income except trading. But then, we have those that for them to become successful at trading, they need to burn the bridges, they don't need a plan B and for those set of individuals, this advise doesn't suit them as it'll destroy them instead of turning them into a good trader. Pressure does have its benefits and disadvantages.
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CarnagexD
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April 06, 2023, 09:46:08 AM |
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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.
If you trade using your extra money, and not those funds that will be used later on, you will have your peace of mind and emotional stability when trading. Unlike when you are trying to trade when your funds are not yet ready, you will always be pressured not to lose so you will lost your focus and get easily destructed with your emotions. In the end, you will lose your trade and regret wishing you did not trade when your finances and emotions are not yet stable. Right. It is imporatnt to trade only your extra funds or the fund that you can afford to lose. You can more effectively manage your risk by trading with just the extra fund you have. If you spend your savings or money needed for living expenses to trade, you'll be putting yourself in a difficult financial situation if you lose money. But if you simply use your extra fund, you won't likely lose money if your trading don't go as you expected. Also, you may make more logical decisions when trading with just the money you can lose That's because emotions can cloud our judgment which can result in poor choices. But if all of your trading is done with extra cash that you can afford to lose, you'll be less likely to let your feelings get in the way. We can be more disciplined when our resources are limited like making realistic goals and following own trading strategy and soon this will result in wiser trading decisions. The only con that I can see in trading only the extra fund is that we become confident to lose it that sometimes we don't put much effort in not losing it.
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bitgolden
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April 06, 2023, 11:19:32 AM |
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going all in if I don't think there is anything wrong with bitcoin, which usually invites risk because we invest in new altcoins, with the hope of having big profits. therefore the need for diversification in the hope of minimizing risk, because it places several coins. but when the price is bullish we have to keep thinking logically so we are not greedy in taking profits, because at any time the price can fall quickly and of course we regret it
It is not guaranteed that you minimize the risk when you diversify. You're even attracting greater risks towards your way of trading and investing. But as said, that's to each their own. And we're all agreeing on one thing and that's when we profit, one must take it and don't forget to do it. Many have done thinking that they should take it only when they're seeing huge profits instead of little ones but then, they're missing the whole point of it and then actually misses the chance to make profits and instead, they're getting losses as that moment of potential profit on them was ignored. It isn't "guaranteed" but at the same time it is a pretty simple way of making sure nothing you buy could end up crashing by itself and making you poor. I am not saying the whole market can't crash, that happened a few times already and that could make it harder for you and that's true, and unfortunate event as well. But that doesn't change the fact that you can't end up with better results most of the time, or even better yet, unless the whole market crashes, we are talking about just a single thing crashing wouldn't mattering to you in the end, that's the good part. I personally do it, and so far I have been never burned by this method, and definitely will keep using it.
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jeraldskie11
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April 06, 2023, 11:48:14 AM |
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<snip>
Some people say that you have to trade with no emotions. I thought it's possible to do that when money is involved you can do it like nothing happens. Well, that's not true anymore. It is impossible not to have emotions when you trade, especially if you are new to trading. You need to build up your self discipline as well as your mind. Consistent winning trades are very helpful for your emotions, and vice versa if consistent losing trades. Those professional and profitable traders, they are still nervous but the only difference between them and us is that they know how to handle their emotions, they know how to execute trades without their emotions making decisions. It's true that it's hard to trade when you're stressed, but reading books that have been tested by profitable traders like "Atomic Habits" and "Trading In The Zone" will help you a lot.
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Issa56
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April 06, 2023, 11:58:30 AM |
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I do advice people to get something doing before they start trading, trading shouldn't be taken as their main source of income, some newbies always end up quitting their jobs maybe because the money the are making from trading is more than what they are making from the Job the are doing, so they will decide to leave their job. In the last bull run, some people decide to quit their job because of trading, thinking they are already professional traders, until bear market started and they have been regretting, some haven't been able to get a good paying job like the one they left and they are regretting now. Everyone can be making money during bull run but few people will be making money during bear market.
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knowngunman
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April 06, 2023, 12:07:36 PM |
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Some people say that you have to trade with no emotions. I thought it's possible to do that when money is involved you can do it like nothing happens. Well, that's not true anymore. It is impossible not to have emotions when you trade, especially if you are new to trading. You need to build up your self discipline as well as your mind. Consistent winning trades are very helpful for your emotions, and vice versa if consistent losing trades. Those professional and profitable traders, they are still nervous but the only difference between them and us is that they know how to handle their emotions, they know how to execute trades without their emotions making decisions. It's true that it's hard to trade when you're stressed, but reading books that have been tested by profitable traders like "Atomic Habits" and "Trading In The Zone" will help you a lot.
This is exactly my thought. How do people even think one can trade without emotion? It's not possible at all to do away with emotion while trading. Anything that involves money can not be totally separated from emotion due to human nature of allergy to lose and failure. Risk and financial management should therefore be the priority of concentration when one try to venture into trading as far as I am concerned. I have heard of local successful traders going unconscious for days after making a hefty gaffe during trading. So I must still reiterate that emotion can not be separated from trading or anything as long as the person is conscious and money is involved.
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AicecreaME
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April 06, 2023, 12:51:17 PM |
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<...> 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.
I disagree. I mean having another source of income doesn't mean that you're going to have a lovely experience in trading, it will only help you to lessen the problem you're going to experience financially especially if you're a newbie who lost a lot of money in the process. Being financially stable has an advantage and disadvantage for me, (1) you're gonna be too comfortable about your losses, (2) you will not grow since all you think about is that you have a lot of money to spend even though you're not getting any profits.
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Aanuoluwatofunmi
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April 06, 2023, 01:20:00 PM |
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Becoming an expert in trading does not only required you studying the chart flow alone, you have to put many things i to consideration, you will beed to speculate on the price occassionally, invest your quality time in physical and mental efforts, you need to take risk investing your money, of course you have more probability of making it through than loosing it, take consultation on many track records on bitcoin price and make comparisons.
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