john1010 (OP)
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December 28, 2023, 06:25:27 AM |
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![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.postimg.cc%2FWzkV7ND1%2FOIG.jpg&t=665&c=pfqEc8hNAzHohg) Hello, fellow traders! I am here to share with you some powerful tips that can help you improve your trading skills and results. Whether you are a newbie or an oldie, I hope you will find something useful in this post. Tip 1: Have a reason for every tradeBefore you enter a trade, you should have a clear idea of why you are doing it and what you expect from it. What is your entry point, your exit point, your stop loss, and your target? What is the market trend, the sentiment, and the news? How does this trade fit into your overall strategy and risk management? Having a reason for every trade will help you avoid emotional and impulsive decisions, and keep you focused on your goals. Tip 2: Clear stops, clear targets: Have a planA good trader always has a plan for every trade. A plan consists of a stop loss and a target, which are the levels where you will close your trade if it goes against you or in your favor. A stop loss is essential to protect your capital from unexpected market movements, and a target is important to lock in your profits and avoid greed. Having a plan will also help you measure your performance and learn from your mistakes. Tip 3: FOMO: Be awareFOMO stands for Fear Of Missing Out, and it is one of the most common psychological traps that traders fall into. FOMO is the feeling that you have to join a trade or a trend because everyone else is doing it, and you don't want to miss the opportunity. FOMO can lead you to enter a trade at a bad price, chase a pump, or hold a coin for too long. To avoid FOMO, you should do your own research, have your own criteria, and stick to your plan. Tip 4: Risk management: Not just for cryptoRisk management is the art of balancing the potential reward and the potential risk of a trade. Risk management is not just for crypto, it is for any kind of trading or investing. Risk management involves setting your position size, your leverage, your stop loss, and your target, according to your risk appetite, your capital, and your goals. Risk management also involves diversifying your portfolio, hedging your exposure, and taking profits regularly. Risk management will help you preserve your capital, reduce your losses, and increase your profits. Tip 5: Cryptocurrencies are traded against Bitcoin, or BTC is the KingOne of the peculiarities of the crypto market is that most of the cryptocurrencies are traded against Bitcoin, the dominant and most liquid coin. This means that the price of a coin is not only influenced by its own supply and demand, but also by the price of Bitcoin. Therefore, it is important to keep an eye on the Bitcoin chart, the Bitcoin dominance, and the Bitcoin news, as they can affect the whole market. BTC is the King, and you should respect it. These are some of the tips that I have learned and applied in my trading journey. I hope they will help you too. Remember, trading is not a get-rich-quick scheme, it is a skill that requires patience, discipline, and learning. Happy trading!
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Barikui1
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December 29, 2023, 10:07:48 AM |
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![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.postimg.cc%2FWzkV7ND1%2FOIG.jpg&t=665&c=pfqEc8hNAzHohg) Hello, fellow traders! I am here to share with you some powerful tips that can help you improve your trading skills and results. Whether you are a newbie or an oldie, I hope you will find something useful in this post. Tip 5: Cryptocurrencies are traded against Bitcoin, or BTC is the KingOne of the peculiarities of the crypto market is that most of the cryptocurrencies are traded against Bitcoin, the dominant and most liquid coin. This means that the price of a coin is not only influenced by its own supply and demand, but also by the price of Bitcoin. Therefore, it is important to keep an eye on the Bitcoin chart, the Bitcoin dominance, and the Bitcoin news, as they can affect the whole market. BTC is the King, and you should respect it. In my early days in trading, this number 5 is what I always falls victim to every now and then, when you fail to understand the market sentiment of Bitcoin, you just trade any alt you see without looking out for Bitcoin, what he is doing before placing a trade, then it shows that you are not doing your homework well before placing a trade. I started winning more trades when I learn this tips you just shared.
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knowngunman
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December 30, 2023, 08:03:24 AM |
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I am here to share with you some powerful tips that can help you improve your trading skills and results. Whether you are a newbie or an oldie, I hope you will find something useful in this post.
Tip 1: Have a reason for every trade Before you enter a trade, you should have a clear idea of why you are doing it and what you expect from it. What is your entry point, your exit point, your stop loss, and your target? What is the market trend, the sentiment, and the news? How does this trade fit into your overall strategy and risk management? Having a reason for every trade will help you avoid emotional and impulsive decisions, and keep you focused on your goals.
Powerful tips indeed! All the tips will be helpful to traders both old and the upcoming ones but this particular one should not be underestimate. Although, even the best laid plans can go wrong some time but Having a clear and well thought out trading plan is very necessary for every trader and it doesn't matter whether they're beginner or an experienced old traders because without a plan, it's easy for one to make rash decisions that can result in losses if care is not taken. Additionally, as a trader one should be honest with themselves since every trader has a different level of risk that they're comfortable with and discover their own risk tolerance level because it's one thing that shape your trading success aside your financial goals and how much time you have to dedicate to trading. Risk carefully to all traders out there.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | │ | CRYPTO FUTURES | | | | | | | | | [ | 1,000x LEVERAGE | ] | [ | . COMPETITIVE FEES | ] | [ | INSTANT EXECUTION | ] | | | ██████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██████ | ████████████████████████████████████████████████████████ . TRADE NOW . ████████████████████████████████████████████████████████ | ██████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██████ |
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Husires
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December 30, 2023, 09:21:52 AM |
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These tips are suitable for the stage before trading or how you prepare to enter into trading, but once you start trading, you must know when to buy and when to sell and whether your fears are normal or do they come from a feeling of FOMO. Risk management requires that there be a difference between trading and investing, as advice suitable for trading may not be suitable for investment and vice versa.
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slaman29
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December 30, 2023, 09:33:46 AM |
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Jesus Christ I was at least expecting something new. Sorry but Master Trading or whatever is not attainable from tips lol.
It's less to do with common sense basic rules of trading which is what you're saying OP. Master trading actually means hard work, discipline and skill at analysis without bias.
Here's a Master Tip from me on how to be a regular trader. Don't waste time reading tips, put in the hard work.
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Kelward
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December 30, 2023, 10:28:44 AM |
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Jesus Christ I was at least expecting something new. Sorry but Master Trading or whatever is not attainable from tips lol.
It's less to do with common sense basic rules of trading which is what you're saying OP. Master trading actually means hard work, discipline and skill at analysis without bias.
Here's a Master Tip from me on how to be a regular trader. Don't waste time reading tips, put in the hard work.
I quite disagree with you that tips are a waste of time, because without it your hard work can not be fruitful, it'll be like working hard with no directions. Tips are pointers that guides you in the areas to concentrate on working hard, otherwise the hard work might end up being labor in vain. Because of the many uncertainties that sorounds cryptocurrency trading it's important to learn the basic skills that'll be helpful guides so that the trader can minimize loses, so after understanding the fundermental and technical analysis, a trader needs helpful tips like the ones that OP shared to maximize profits in trading.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | │ | CRYPTO FUTURES | | | | | | | | | [ | 1,000x LEVERAGE | ] | [ | . COMPETITIVE FEES | ] | [ | INSTANT EXECUTION | ] | | | ██████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██████ | ████████████████████████████████████████████████████████ . TRADE NOW . ████████████████████████████████████████████████████████ | ██████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██████ |
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sheenshane
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December 30, 2023, 02:06:04 PM |
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Jesus Christ I was at least expecting something new. Sorry but Master Trading or whatever is not attainable from tips lol.
I tend to agree, I didn't see something new in those tips, besides, it has been discussed here so many times. But for me, the most important is the stop-loss, when to enter or exit a trade and have a plan or stick to the plan. By doing this you can manage and minimize possible losses that you may encounter. Adding to OP tips. IMO, choose a well-established and reputable crypto exchange, and don't let your fund sleep on their wallet for the long term. I hope this will help.
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boyptc
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December 30, 2023, 04:32:18 PM |
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Those are not simple tips. They sound simple upon reading it but when it's about the actuality of it, that's not how it goes.
It's like different encounters that we have when we trade but someone who's willing to go for miles and become a great trader someday, it's going to take a lot of time.
But it's a good guide at all but we mostly see the same tips from other sources that also like to help and guide aspiring traders.
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slaman29
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December 31, 2023, 11:19:38 AM |
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Jesus Christ I was at least expecting something new. Sorry but Master Trading or whatever is not attainable from tips lol.
I tend to agree, I didn't see something new in those tips, besides, it has been discussed here so many times. But for me, the most important is the stop-loss, when to enter or exit a trade and have a plan or stick to the plan. By doing this you can manage and minimize possible losses that you may encounter. It's not even a tip though. I said in my post. These are basic ground rules for trading. Prerequisites. If you go into a shop and preorder stuff, you must know the price you're willing to buy right? It's like saying, tip to live longer when driving, wear your seat belt. It's not a tip lol. It's a rule that guarantees you bad stuff if you don't follow.
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john1010 (OP)
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December 31, 2023, 11:46:32 AM |
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Jesus Christ I was at least expecting something new. Sorry but Master Trading or whatever is not attainable from tips lol.
It's less to do with common sense basic rules of trading which is what you're saying OP. Master trading actually means hard work, discipline and skill at analysis without bias.
Here's a Master Tip from me on how to be a regular trader. Don't waste time reading tips, put in the hard work.
Hi, thank you for your honest feedback. I appreciate that you have a different perspective on trading and I respect your experience and skills. I’m sorry that my tips didn’t meet your expectations, but I hope you understand that they are not meant to be a comprehensive guide to master trading. They are just some basic principles that I have learned from my own journey and I wanted to share them with others who might find them helpful. I agree with you that trading requires hard work, discipline, and skill at analysis without bias. I’m always eager to learn new things and improve my trading performance. That’s why I created this thread, to exchange ideas and insights with other traders. I would love to hear more about your strategies and tips, and maybe we can learn from each other. Happy New Year! ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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slaman29
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January 01, 2024, 01:40:20 PM |
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Jesus Christ I was at least expecting something new. Sorry but Master Trading or whatever is not attainable from tips lol.
Hi, thank you for your honest feedback. I appreciate that you have a different perspective on trading and I respect your experience and skills. I’m sorry that my tips didn’t meet your expectations, but I hope you understand that they are not meant to be a comprehensive guide to master trading. They are just some basic principles that I have learned from my own journey and I wanted to share them with others who might find them helpful. I agree with you that trading requires hard work, discipline, and skill at analysis without bias. I’m always eager to learn new things and improve my trading performance. That’s why I created this thread, to exchange ideas and insights with other traders. I would love to hear more about your strategies and tips, and maybe we can learn from each other. Happy New Year! ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) I have the same perspective actually, as all serious traders (except I'm not a trader, but I used to be). I'm just being upfront about it. I'm less worried about you meeting 'my expectations' but more worried about the misleading posts in trading to newbies. I really hate that majority of 'advice' on youtube or even here trick people into thinking they can be good traders when really if you want to educate people, tell them the cold facts, tell them they will likely lose money. Say that they will probably never master trading. Your tips are as I said basic ground rules. It's not unique to your journey. Here's my tip that's a real tip from my trading journey almost no socalled Master Trader will never tell you because they don't want you to know how bad they really are. I'm not sarcastic this time Get a buddy system. Another trader who knows your trades. If ever you like doing something risky? Like moving stop loss or going 100x leverage? Make sure you confirm with buddy. It's not his money, so he has no greed. He will stop you 9 out of 10 times from doing dumb things.
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hugeblack
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January 01, 2024, 04:12:21 PM |
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Unless you are a professional and know why you want to trade, most likely, no matter how profitable your trading is, your investment in Bitcoin will continue to decrease. It is true that some currencies, especially bump/dump coins, achieve good profits in the short term, but their value soon decreases against USD, so trading is not a way to make a quick profit or for those who don't know what they're doing.
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Nrcewker
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January 01, 2024, 05:20:57 PM |
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These tips are suitable for the stage before trading or how you prepare to enter into trading, but once you start trading, you must know when to buy and when to sell and whether your fears are normal or do they come from a feeling of FOMO. Risk management requires that there be a difference between trading and investing, as advice suitable for trading may not be suitable for investment and vice versa.
Definitely these tips will only help you to prepare for trading. They will make your fundamental strong about the market and the coin which you are trading. These tips can really work well if you take them seriously. But when you trade these tips doesn’t directly apply on it, but as you have known about this so subconsciously it will help you to trade better. At last risk management should always be kept at top priority. Trade only that amount which you can afford to lose. Don’t invest your life savings in trading. Trading isn’t easy money.
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AakZaki
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January 01, 2024, 09:21:25 PM |
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Definitely these tips will only help you to prepare for trading. They will make your fundamental strong about the market and the coin which you are trading. These tips can really work well if you take them seriously. But when you trade these tips doesn’t directly apply on it, but as you have known about this so subconsciously it will help you to trade better. At last risk management should always be kept at top priority. Trade only that amount which you can afford to lose. Don’t invest your life savings in trading. Trading isn’t easy money.
Trading also provides a higher level of stress, especially day trading or fast trading. It is full of risks and of course requires good risk management and the right strategy. It's not easy to trade like the theory someone explained. it has to do with mentality, psychology and how to manage trades properly.
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Twentyonepaylots
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January 01, 2024, 09:52:51 PM |
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These things are fundamentals that every trader needs to know, but once you get to trading, say after a year you'll realize that you only need a few guides in trading. Personally I set this rules for me to follow every time I trade or planning to trade.
I have this 3 things on my note
1. Decide 2. Plan 3. Execute
Then I breakdown these things, make a broad illustration on how to get things done.
1. Decide - My first step is to decide. I'll check the market in general. If I'm skeptical, I won't touch the market ground. Know the trade strategy, Short or Long term. 2. Plan - Again, if I got skeptic after deciding and don't know how to plan the trade I want to make, I won't touch it. So planning is a bit long process for me, do a lot of reading and analysis and write stuff on my note coz I got a short term memory so I have to lol. I'll start writing things out including the key words for my self. 3. Execute - Some people may think that this is a quick process, just execute the plan, hell nah. The execution involves yourself, where the discipline and your character is vital.
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bitgolden
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January 02, 2024, 05:19:53 AM |
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These tips are suitable for the stage before trading or how you prepare to enter into trading, but once you start trading, you must know when to buy and when to sell and whether your fears are normal or do they come from a feeling of FOMO. Risk management requires that there be a difference between trading and investing, as advice suitable for trading may not be suitable for investment and vice versa.
Definitely these tips will only help you to prepare for trading. They will make your fundamental strong about the market and the coin which you are trading. These tips can really work well if you take them seriously. But when you trade these tips doesn’t directly apply on it, but as you have known about this so subconsciously it will help you to trade better. At last risk management should always be kept at top priority. Trade only that amount which you can afford to lose. Don’t invest your life savings in trading. Trading isn’t easy money. They are definitely all great, but I agree that they are great for when you are about to start, not for later on. I understand that some people do forget these later on as well and those people should read this p every single day until they memorize it, but that's just how it is. I believe that the best thing to do would be making sure that people be ready for anything, bitcoin could go down or up, you are not sure what will happen, so when you are making a move, always be ready for anything that could change big things. If you are ready for both up and down, that means you are going to be fine, even if you pick the wrong side, you could always get out without having too much loss and that should always be the most important part.
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hugeblack
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January 02, 2024, 08:47:07 AM |
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If you are ready for both up and down, that means you are going to be fine, even if you pick the wrong side, you could always get out without having too much loss and that should always be the most important part.
In other words, base your plan on the worst scenario, which is the expected bottom, since no matter how bad the circumstances are, it is unlikely that we will return again to the point of 15.6k, and it is unlikely that we will be less than 60k in the coming years, so base your calculations on the amount of Bitcoin being 60k and any up values is profits.
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Assface16678
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January 04, 2024, 06:52:28 AM |
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Definitely these tips will only help you to prepare for trading. They will make your fundamental strong about the market and the coin which you are trading. These tips can really work well if you take them seriously. But when you trade these tips doesn’t directly apply on it, but as you have known about this so subconsciously it will help you to trade better. At last risk management should always be kept at top priority. Trade only that amount which you can afford to lose. Don’t invest your life savings in trading. Trading isn’t easy money.
Trading also provides a higher level of stress, especially day trading or fast trading. It is full of risks and of course requires good risk management and the right strategy. It's not easy to trade like the theory someone explained. it has to do with mentality, psychology and how to manage trades properly. True, that's why having a strong mental health or solid mindset is very important for a trader because every trade can provide anxiety to a trader. Even an experienced trader will often feel the anxiety of losing the trade, whether it is a fast trade, a short-term trade, or a long-term trade. In fact, it's more risky for a trade that is short-term because of the volatility of the bitcoin market, but in a long-term trade, it's more complex because a trader should do a series of analyses with a little margin of loss, or the account should be ready for the down trade because it's normal in a trade. That's why I don't like people who say crypto trading looks easy; advice or tips are not enough for a trader to ensure a profit or a good trade; the execution should have a high chance of winning, but there is no perfect trade, so sometimes a loss trade is inevitable.
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Silberman
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January 04, 2024, 07:57:05 AM |
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True, that's why having a strong mental health or solid mindset is very important for a trader because every trade can provide anxiety to a trader. Even an experienced trader will often feel the anxiety of losing the trade, whether it is a fast trade, a short-term trade, or a long-term trade. In fact, it's more risky for a trade that is short-term because of the volatility of the bitcoin market, but in a long-term trade, it's more complex because a trader should do a series of analyses with a little margin of loss, or the account should be ready for the down trade because it's normal in a trade.
That's why I don't like people who say crypto trading looks easy; advice or tips are not enough for a trader to ensure a profit or a good trade; the execution should have a high chance of winning, but there is no perfect trade, so sometimes a loss trade is inevitable.
Those people that say it is easy do not know what they are talking about, in theory it seems easy, since you only need to buy when the price is low and sell it when it is high, so how hard it can be? But it turns out that it is exceptionally difficult, it seems easy because people look at the past and they can clearly watch where the top and the bottom was, but when you are trading for real you have no way to know that information, and you can only use TA to more or less guess where those levels could be.
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Yamane_Keto
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 04, 2024, 09:34:52 AM |
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Trading is easy for those who have other investments, and trading is considered an opportunity to enhance their investments in the long term, but it is disastrous for anyone who believes that he can make a quick profit or whenever he wants from trading. Trading, even if creating and executing orders is easy and everyone can do it, is linked to expectation, and the signature is based on good analysis of available news and trying to access news that is not available, and it is a mental effort that may be destructive if you do not know how to deal with it.
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自信は成功です
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