Don't encourage multiple trading!

[Bushdark]

There are people who are good at multiple trading and they don't have a problem with that. We need to know what works for us so that we can try our best to make sure that we get the best from the market as a trader. I have tried multiple trading and it looks cool for me but to some beginners, they might be finding it as a bug problem readimg multiple charts at the same time. If we utililize our understand and do what works for us, we are not going to have problems as a trader and WI always making good profits from the market.

[1715371314]

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[DevilSlayer]

That is why it is important to know the importance of diversification and also the importance of risk management, your friend is currently having a hard time to handle his portfolio because he is now considered having a overposition trading which means he needs to let go some of his positions. In terms of my rules, I usually have maximum percentage allocation of 20% of my capital.

Which means that if I will buy bitcoin and I have $200, the maximum money that I should use is just $40. I still have $160 that I can use to buy 4 more coins. If you want to have many assets, make sure to just limit it at maximum of 5 position for you to easily manage and not make mistakes that can lead you to incur huge losses. Avoid having overposition because it is one of the major causes of failure in trading.

[slaman29]

That is why it is important to know the importance of diversification and also the importance of risk management, your friend is currently having a hard time to handle his portfolio because he is now considered having a overposition trading which means he needs to let go some of his positions. In terms of my rules, I usually have maximum percentage allocation of 20% of my capital.

None of that is as important as discipline. Anybody cand iversiy and "manage risk" but the discipline to follow through when everything is red.

Allow stop loss to hit. Allow take profit to hit.

If price does not take the limit order, don't do anything.

If a trader can do this consistently, that is the biggest achievement to make, everything else can be learned.

[Yamifoud]

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

One at a time is advisable and it is more manageable than having multiple trades which makes you out of focus and priority.
If really wanted to do this, might having trading bots help it out but knows the consequences as well - higher chances of losing than profit. I'm not sure if this strategy is a kind of greediness or not but for me, that was impossible to work so well. Yes, the results are possibly disappointing that nobody wants to have it. Have to make it real, our mind doesn't function that fast and like a robot.

[Bobrox]

I don't think bad when encourage multiple trading in cryptocurrencies, I know easy controlling when have one or two altcoin for trading but have position with trading several altcoins has bigger chance with two or three altcoin potential earn profit. Did you remember with some one said "don't put egg in one basket". I think its important basic trading in cryptocurrency we need separated investment in several kinds of altcoin, when have coins dropped still get chance with another coins on higher price.

Depend on personal trading kinds, if difficult with controlling when trading more than three until six coins kinds is better put assets in one altcoin or has decision investing in Bitcoin only, but many smart and experienced trader put their egg not only in one basket but also trading on several altcoin kinds.

[@sriyan]

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 depends on your friend's risk and reward ratio. If you like to take a higher risk, then you can get a higher reward. So the better option is to control the risk and reward ratio.

Eg: Higher risk -> Higher Reward or loss



 

[slashz9]

actually it's worth the risk if only yesterday the market went up instead of going down then your friend gets a big profit instead of a loss, so it all depends on capital, and how many percent of the fund management for one trade.

[_BlackStar]

One at a time is advisable and it is more manageable than having multiple trades which makes you out of focus and priority.

Having several open trades is also not problem if the trader is able to understand good strategy, especially about TP and SL. These two option are mandatory for any trader who expects short-term returns, it is intended to prevent more losses when the market changes trend. So I don't think having 2-10 open trades is anything wrong.

The risk of losing lot of money is of course very high when the trader has several trades, but it will also be well worth the possible returns when the analysis is correct. But anyway, I don't like multiple trading even though I don't mind it being done by multiple traders.

[iv4n]

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 depends on your friend's risk and reward ratio. If you like to take a higher risk, then you can get a higher reward. So the better option is to control the risk and reward ratio.

Eg: Higher risk -> Higher Reward or loss

I wonder if his friend traded one or more pairs? It's different when people make multiple trades at a time with the same pair, and when people diversify and get into multiple pairs.

I guess that risk and reward ratio explains everything. It doesn't matter if someone goes with one or more pairs, single or more trades, it's about control of risk reward ratio! Those who chase big profits will face higher risks and probably will lose most of the time... those who have control can have fun and harvest profit here and there, maybe nothing big but at least something will come.

[lalabotax]

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

This exacy depends kn each strategy and managememt control. Management control will also injde the abikoty of us in trading. So, we can assume that some people may be skillful and not. Our ability in trading will also influence how we will manage the fund and risks in trading
 One of them is about the ways of managing funds and how manyvtrades opem in one time. If you are skillful enougj and have the knowledge in trading, it may not be a big problem. As long as you are able to manage it without any stress and become more patient whatever the market, just be careul and wise suitable to your own  activities. Because we all know that doing self business and trading at once will also be stresful and careful.

[wxa7115]

I wonder if his friend traded one or more pairs? It's different when people make multiple trades at a time with the same pair, and when people diversify and get into multiple pairs.

I guess that risk and reward ratio explains everything. It doesn't matter if someone goes with one or more pairs, single or more trades, it's about control of risk reward ratio! Those who chase big profits will face higher risks and probably will lose most of the time... those who have control can have fun and harvest profit here and there, maybe nothing big but at least something will come.

Regardless of the number of markets being traded there should be some sort of limit to the number of positions which can be opened simultaneously, as the more positions are opened the higher the risk you are taking.

And as we know control over the risk we take is one of the most important abilities we may have as traders, while at the same time is the most unforgiving, as you could open your positions a little bit early or late and your system will still be profitable, but take too much risk and eventually you will bust your account for sure.

[death69]

One at a time is advisable and it is more manageable than having multiple trades which makes you out of focus and priority.

Having several open trades is also not problem if the trader is able to understand good strategy, especially about TP and SL. These two option are mandatory for any trader who expects short-term returns, it is intended to prevent more losses when the market changes trend. So I don't think having 2-10 open trades is anything wrong.

The risk of losing lot of money is of course very high when the trader has several trades, but it will also be well worth the possible returns when the analysis is correct. But anyway, I don't like multiple trading even though I don't mind it being done by multiple traders.

Trading, my friend, is like dancing on a tightrope while juggling fiery chainsaws – sure, it's a jaw-dropping spectacle if you nail it, but you're walking a fine line between fortune and fiery doom.

But hey, sometimes you gotta carpe that diem and toss the dice. It's a wild world of calculated gambles, and occasionally, that means diving into a multi-trade whirlwind. Just don't overdo it, and stay vigilant on those sneaky stop-loss and take-profit ninjas.

And you know what? If things go up in smoke, at least you'll be the life of the party at the next Wall Street shindig with your wicked trading tale.

[usekevin]

Multiple trading is suitable for the experienced traders and not to the beginners.The people who are new to trading must learn the trading with minimum amount as the capital.If you had do start of trade with high amount,it will leads to high loss.Some trading exchanges give you free coin to learn trading,you can make use of it.Then start the real term trading.Analysis one chart a time at the beginning stage,then move to two trading at a time.Later you can trade with 3-4 trades at a time.When you trade above 6 months,then start to trade with 10 trade at a time.Multiple trade is easy to the people with more trading knowledge and analytical skills.Don’t do multiple trade until you are became familiar with it.

[Aanuoluwatofunmi]

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 have said it all that multiple trade is not advisable when you're a newbie to trading, this does not applies to trading bitcoin alone, but any other thing in life, we shouldn't risk doing things if we are inexperienced, but when you're good at doing it, it gives you upper edge to earn more than opening a single trade, know that everything has merits and demerit side of it, if the bitcoin price is going dip, that is when some traders are making their own cool money, this is all about the leverage position you took together with your kind of trading pattern.

[wxa7115]

Multiple trading is suitable for the experienced traders and not to the beginners.The people who are new to trading must learn the trading with minimum amount as the capital.If you had do start of trade with high amount,it will leads to high loss.Some trading exchanges give you free coin to learn trading,you can make use of it.Then start the real term trading.Analysis one chart a time at the beginning stage,then move to two trading at a time.Later you can trade with 3-4 trades at a time.When you trade above 6 months,then start to trade with 10 trade at a time.Multiple trade is easy to the people with more trading knowledge and analytical skills.Don’t do multiple trade until you are became familiar with it.

What happens is that when you open multiple trades at the same time is very easy to lose sight of the risk you are taking, and if you lose a few trades in a row it is very easy to find yourself in a situation in which you lost way more money than what you thought you could lose.

And this is a terrible scenario to be in, because even more important than a solid entry and exit strategy is to minimize our risks and to prevent a massive loss of money, because once it happens now you will have to take an even bigger risk just to try to breakeven.

[Twentyonepaylots]

Multiple trading is suitable for the experienced traders and not to the beginners.The people who are new to trading must learn the trading with minimum amount as the capital.If you had do start of trade with high amount,it will leads to high loss.Some trading exchanges give you free coin to learn trading,you can make use of it.Then start the real term trading.Analysis one chart a time at the beginning stage,then move to two trading at a time.Later you can trade with 3-4 trades at a time.When you trade above 6 months,then start to trade with 10 trade at a time.Multiple trade is easy to the people with more trading knowledge and analytical skills.Don’t do multiple trade until you are became familiar with it.

What happens is that when you open multiple trades at the same time is very easy to lose sight of the risk you are taking, and if you lose a few trades in a row it is very easy to find yourself in a situation in which you lost way more money than what you thought you could lose.

And this is a terrible scenario to be in, because even more important than a solid entry and exit strategy is to minimize our risks and to prevent a massive loss of money, because once it happens now you will have to take an even bigger risk just to try to breakeven.

Same thoughts since having multiple trading could be hard to manage since trading requires you to analyze the market and if you will focus in many trading pairs, it would be very hard for you to focus and make good and wise decisions in your trading. But I think there would be a limit that each person can handle since it is really possible to trade more than 1, just make sure that you can equally put an effort to focus on each trading so that you can be successful on each trading that you get into.

[tomos81]

If you want to do trading then you must have knowledge about different exchanges or coins. If you want to do trading then you must research the market because the market can suddenly crash and the price can increase so you have to buy tokens with an understanding of the opportunity. You buy tokens in a bear market and sell them when the price rises. If you are new then you must follow all its tricks.

[jrrsparkles]

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.

[Stable090]

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

When you open multiple trades, you easily get confused, most especially newbies, if you are a professional and you want to open multiple trades at once, you should also be very careful, whenever the market goes against you, then you will lose control off all the trades. It’s better you just focus on trades that you know you can handle, you shouldn’t be in hurry to make money because you might end up losing everything. Trading is not all about how many trades you open, it’s about how you can monitor and maintain the trades you open.

[blockman]

If you want to do trading then you must have knowledge about different exchanges or coins. If you want to do trading then you must research the market because the market can suddenly crash and the price can increase so you have to buy tokens with an understanding of the opportunity. You buy tokens in a bear market and sell them when the price rises. If you are new then you must follow all its tricks.

Crashes are to be expected and if you're a trader, you're aware of it can happen anytime to any coin in the market that you're trading. Those that have come unprepared are the ones that shall be surprised if it has come. But as soon as you start trading, you'll get to see what's impactful to your trades and what you must avoid for you to have it understand that in trading, it's not always the market that's going to be on your side. At most times, it will be against you and you should be the one adjusting on it. If you can't focus on a single trade then be discouraged that you can't do better if you open with multiple trades.