Re: How to trade Bitcoin in a volatile market

[Tungbulu]

Do you realize OP that even with discipline and having a clear plans, you could still end up experiencing a massive loss in a market as this one. Trading isn’t just something anyone can just hope in with some memorized strategy or some copy/past approach. Honestly it kinda requires having a perfect understanding of the market and knowing what direction the market is headed for, which isn’t always possible even when some folks may claim it’s possible to accurately read those charts and do some candlestick calculations, in the long run, it’s still not always accurate, whether or not you have self control or discipline, you’re still bound for losses.

[Mr intelligence]

Trade Bitcoin in a fluctuating market take self control managing risks and having a solid plan Bitcoin often sees sudden price change offering chances for big profit but it can also result in significant losses if not managed well knowing how to handle this volatility is crucial for lasting success
‎To start aways have a strategy when you trade before making any move be clear about where you will enter your profile target and your stop loss this helps you avoid making emotional choices based on  fear or greed next keep an eye on your risk don't put more than a small fraction of your total funds into one trade typically around 1-2% keeping your position sizes small helps protect your account from too many losses it's crucial to safeguard your capital rather than just aiming for quick gain
‎Also trade in the direction of the trend while volatile market can change quickly they generally follow broader trends use large timeframe like the hour or daily chart to determine if the market is trending upward or downward in the end manage your feelings market ups and downs can lead to fear panic selling and fear of missing out good traders stay cool patients and discipline often the smartest move is to skip trading completely by using good risk management, analyzing trends and keeping emotions in check, traders can stick around and make money in Bitcoin wild market.
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I get point view word about it and trade if Bitcoin market is self control of many markets today both sateary as many follow up if keep the emotional of it down to many markets today also miss trade as many risk management if daily trial funding if money us big source of goods the most large is pains if analysis good trade if market volatility moving to general border also just good market as the way for people to view their direction of chart and goods and services if feer keep on trades ask for help to protect your account so that you can lose

[Cleanshit]

Do you realize OP that even with discipline and having a clear plans, you could still end up experiencing a massive loss in a market as this one. Trading isn’t just something anyone can just hope in with some memorized strategy or some copy/past approach. Honestly it kinda requires having a perfect understanding of the market and knowing what direction the market is headed for, which isn’t always possible even when some folks may claim it’s possible to accurately read those charts and do some candlestick calculations, in the long run, it’s still not always accurate, whether or not you have self control or discipline, you’re still bound for losses.

Well is all you said even necessary because from what am trying to understand something else well the part where you did made mention of memorizing or some copying trade was trying to understand what you meant by day that? Back to the point it very necessary as trader to stick it the point as been a trader and having to have a control over emotional intelligence over it when the market it all at loss.

[Jubilee58]

Bitcoin trading can be very profitable and also very risky as well. Not everyone is a good trader, and before venturing into Bitcoin trading, ensure you equipped yourself with the right trading skills before going into Bitcoin trading, otherwise you will likely loose your fund.
As a good trader, you should be good in bitcoin technical analysis, know the right time to buy and when to sell, making use of trading technical tools like the use of Bollinger bands and time frame will help you a lot and enable you to make smart moves, build your confidence and make you take informed decision while trading.

As a Bitcoin trader, you should avoid greed, when you attach your trading with greed, you will likely loose your money. We know people loose money even as a good trader , but what differentiates you from the inexperienced traders is the ability to make more profit than losses.
More also, if you are a bigginer, it is necessary you start small, then grow big. Starting small will enable you to know your ability and be able to correct any trading errors, starting small and setting your stop loss and take profit properly will also enable you to reduce your losses while you advance in the market.

[Rgram]

Do you realize OP that even with discipline and having a clear plans, you could still end up experiencing a massive loss in a market as this one. Trading isn’t just something anyone can just hope in with some memorized strategy or some copy/past approach. Honestly it kinda requires having a perfect understanding of the market and knowing what direction the market is headed for, which isn’t always possible even when some folks may claim it’s possible to accurately read those charts and do some candlestick calculations, in the long run, it’s still not always accurate, whether or not you have self control or discipline, you’re still bound for losses.

See eh, I nearly laugh when I see this your response o because, no be everything way person Dey act like say, e get how you go plan reach way be say, you no go chop losses. For trading eh, na another different ball game. You fit develop strategy today make that strategy no work again tomorrow o. Things Dey change on a steady and e go shock you just how swiftly e Dey carry happen.

Trading way go make your brain Dey spin like mad person. I too sabi no Dey Dey this side o. Na so many traders way carry people funds go trade Dey turn criminals.

[RockBell]

Do you realize OP that even with discipline and having a clear plans, you could still end up experiencing a massive loss in a market as this one. Trading isn’t just something anyone can just hope in with some memorized strategy or some copy/past approach. Honestly it kinda requires having a perfect understanding of the market and knowing what direction the market is headed for, which isn’t always possible even when some folks may claim it’s possible to accurately read those charts and do some candlestick calculations, in the long run, it’s still not always accurate, whether or not you have self control or discipline, you’re still bound for losses.

One thing about trading is that, no matter what strategy you choose, you must acknowledge that you will inevitably lose money. This is something that some traders are unwilling to acknowledge. When you first start trading, you must realize that you will have to lose money, and there are people who have been killed because there is no uncertainty in trading. So if you are trading you should the mindset that anything thing can happen in the process and it takes a lot more than  even reading the candle stick might not grant you the profit you want sometimes you just need to follow a particular type of strategy so is just for you as a trader to figure out what actually works.

[Audrey Simmons]

Trading way go make your brain Dey spin like mad person. I too sabi no Dey Dey this side o. Na so many traders way carry people funds go trade Dey turn criminals.

The problem we have too na Nigerians and internet sensation wey dey always pose themselves as very high profitable traders, with expensive cars and accessories for online, wey go make young traders begin dey desperate to be like them.

Some Nigerians na copycat, wetin dey go calm down take am easy, because dey see person from internet talk some how like say na so trading be like, they go begin rush put their everything inside, some forget say most things we dey see for online, especially for traders, most of them na content and no be real.

Trading dey risky, losing no dey say exemption, every trader go experience loss plenty times than how they imagine am.

[Tungbulu]

See eh, I nearly laugh when I see this your response o because, no be everything way person Dey act like say, e get how you go plan reach way be say, you no go chop losses. For trading eh, na another different ball game. You fit develop strategy today make that strategy no work again tomorrow o. Things Dey change on a steady and e go shock you just how swiftly e Dey carry happen.

Trading way go make your brain Dey spin like mad person. I too sabi no Dey Dey this side o. Na so many traders way carry people funds go trade Dey turn criminals.

Yeah, the market is ever changing and how the market take Dey today fit no be how e go Dey tomorrow, and just as you talk, that strategy wey work for you today, give you better profit, fit reach tomorrow make you chop better loss and your mind go first Dey. Na why people need to always Dey on their guard, on alert for new trends so that as them notice changes, them fit know how them go take adapt to those changes too. Trading ni really easy, and na why na only people wey get mind fit run am.

[Comeacross]

The problem we have too na Nigerians and internet sensation wey dey always pose themselves as very high profitable traders, with expensive cars and accessories for online, wey go make young traders begin dey desperate to be like them.

Some Nigerians na copycat, wetin dey go calm down take am easy, because dey see person from internet talk some how like say na so trading be like, they go begin rush put their everything inside, some forget say most things we dey see for online, especially for traders, most of them na content and no be real.

Trading dey risky, losing no dey say exemption, every trader go experience loss plenty times than how they imagine am.

This one na major issue wey dey affect most of our youths for Nigeria. We too dey attach to social media and allow it to influence even more than oyibo wey invent am. Some people assume everything they see online is real and they can follow and it easily without realising that there is behind the scene. The profit screenshot you're seeing online is not always real. The expensive cars are hired cars. The mansion is a rented property and everything is virtually fake. Some of them are paid to run promotion for the trading platforms but people don't think it through before they start seeing them as experts and profitable traders.

If they are making profit from trading as claimed, they don't need to be advertising their paid trading classes. Some of them are using people registration fees to guide outside media but portraying themselves as professional traders on social media. I'm not saying professional traders don't exist, they actually do but they are definitely not the ones making noise on social media up and down. I remember how one guy was narrating his experience with Habby forex on twitter last time and how he's regretting for taking that step.

[Sunshine1525]

This is post for those that have already have some knowledge on how the market moves and stuff , the truth is that if you don’t have any knowledge on how trading works stay away from it  , if you go with your halfsize knowledge you are going to messed yourself up.

This is the reason many complain that trading is not good and stuff , because they are not trading with the right knowledge, treading not like other skill because having the strategy alone won’t save you also have to be mentally prepared too .

Very good advise cause some people could take the OP's explanations seriously and want to explore without having proper understanding of the market, success isn't guaranteed even for those who really know what they're doing talk more of those who doesn't, but it's better to know cause someone who understands the market would be in good position to properly manage the risk.

Trading is very risky that's why it also need properly risk management skills and if someone doesn't know how to implement those skills in his or her trade then there would be too many lose than gain.

[BitBakerr1]

You talk well but I no go advice any person to trade because trading they very risky, no matter how you do am you go still lose money, trading na something way be say even if you use the best strategy you go still lose money, bitcoin no be something way person go con Dey trade, na something way be say you go buy and then hold am for long term, if you Dey trade bitcoin you Dey fuck up except say you just won play play and say you Dey do am with some percent of your discretionary income.

[PremiumcryptoHub]

This is post for those that have already have some knowledge on how the market moves and stuff , the truth is that if you don’t have any knowledge on how trading works stay away from it  , if you go with your halfsize knowledge you are going to messed yourself up.

This is the reason many complain that trading is not good and stuff , because they are not trading with the right knowledge, treading not like other skill because having the strategy alone won’t save you also have to be mentally prepared too .

Very good advise cause some people could take the OP's explanations seriously and want to explore without having proper understanding of the market, success isn't guaranteed even for those who really know what they're doing talk more of those who doesn't, but it's better to know cause someone who understands the market would be in good position to properly manage the risk.

Trading is very risky that's why it also need properly risk management skills and if someone doesn't know how to implement those skills in his or her trade then there would be too many lose than gain.

Trading is very risky because I think it requires strict mental discipline, proper strategy and more education. The reality of trading is that it is easy to imagine because many people think that buying low and selling high is trading, but the biggest obstacle to profit from the initial stage is emotion and not making the right decisions. At this stage, we can undoubtedly assume that the steps to succeed in trading are learning, analyzing and practicing.

Actually through this forum or various articles, the inexperienced will be able to learn about this subject and through analysis, they will be able to understand charts and technical analysis. Also, through practice, it seems to me the inexperienced will be able to increase their level of experience by practicing on a demo account, as a result of which they will be able to make profits from trading later.

[MisFoxie]

-snip-

It's true that in short term trade people can lose money especially when the market is volatile. I don't recommend anyone inexperienced to tarde Bitcoin for quick profit it could be gambling for them.

My advice is buy Bitcoin when you are ready to hold it for long time. If your goal is to hold it for long term even if you buy Bitcoin in volatile market it may cause little loss. But obviously you should avoid Fomo because it may force you to buy Bitcoin at ATH.

[CryptopreneurBrainboss]

Trading way go make your brain Dey spin like mad person. I too sabi no Dey Dey this side o. Na so many traders way carry people funds go trade Dey turn criminals.

Better you just carry your  money buy Bitcoin come hodl instead of you thinking you can defeat the market when you know say you no go fit defeat am so e go just better make you avoid an especially when the market is too volatile like now wey be say the direction of the market dey very unpredictable.

Person no even dey sure which direction the market dey for his days, Some days e go belike everywhere good but from no where, the market go suddenly turn red. Time to trade the maker for people wey sabi wetin them they do na when the market dey volatilely high because them go make more profits if them fit get their speculation correctly but if you never Sabi how to handle the market well, then don't trade during high volatile days.

But if you're just coming up and still want to experience trading, then go for times when the market is less volatile (bull season times that you're somehow guaranteed of having green days steady), just to avoid losing because trading isn't something you should be doing if you aren't ready to acquire the skills needed to make profits.

[Yorubek]

You make a valid point, but achieving real success in trading is not easy. There is a significant risk of financial loss, so before starting, it is crucial to acquire the right knowledge, understand risk management, and comprehend market dynamics. While you might consider market volatility to be your greatest enemy, in reality greed can lead to massive losses, therefore controlling your greed is essential. By managing greed, entering the market at the right time, and using only the capital you can afford to lose, you can avoid making emotional decisions. There is a very high risk of losing money through trading, so it is prudent to exercise caution.

[gracreavix]

Risk management is very important. But there's one thing you need to know. It doesn't bring about profitability. What it does is to make your survive long enough for a win. So risk management doesn't make your trades profitable. Your strategy does that. Risk management makes you survive long enough. You can be let's say risk 1% per trade. And if your strategy is shit, with all your risk management, you will still blow the account.

[Female King]

This is post for those that have already have some knowledge on how the market moves and stuff , the truth is that if you don’t have any knowledge on how trading works stay away from it  , if you go with your halfsize knowledge you are going to messed yourself up.

This is the reason many complain that trading is not good and stuff , because they are not trading with the right knowledge, treading not like other skill because having the strategy alone won’t save you also have to be mentally prepared too .

You are on point if you don't have any knowledge and experience about trading you will just mess up everything, trading is not for less experience people you must understand little on how the market moves, most people who loss money in trading bitcoin are those who saw others making profit and they decide to join without having trading experience or knowledge.

Inexperienced people should invest in bitcoin for a long time since they can't read market chart or know the movement of the market and this will also save them the stress of steadily checking on the market, the risk in trading is just too much and should be avoided by half size knowledge people to avoid losing money.

[Asiska02]

This is the reason many complain that trading is not good and stuff , because they are not trading with the right knowledge, treading not like other skill because having the strategy alone won’t save you also have to be mentally prepared too .

A lot of traders are yet to be profitable today, not because they don’t have the knowledge of trading but because their mental health is still what they’re dealing with. And if they don’t get to put that mental health into order, they will never get to be profitable even with the big knowledge they have of the trading market. Trading is very easy to learn but implementing what you have learnt in the chart is very difficult and this is amongst the reason why we have so many unprofitable traders todays despite their bank of knowledge in trading generally.

[Versatile_choice]

You make a valid point, but achieving real success in trading is not easy. There is a significant risk of financial loss, so before starting, it is crucial to acquire the right knowledge, understand risk management, and comprehend market dynamics. While you might consider market volatility to be your greatest enemy, in reality greed can lead to massive losses, therefore controlling your greed is essential. By managing greed, entering the market at the right time, and using only the capital you can afford to lose, you can avoid making emotional decisions. There is a very high risk of losing money through trading, so it is prudent to exercise caution.

Surely, in trading one need to have the best knowledge before venturing into trading because trading is not like that  of bitcoin Investment that you can venture into by knowing how to make deposit. In trading learning how to make deposit is not enough for you to get started, there are still more you need to understand before you can kick started that is the reason why I don't look into trading because it requires enough knowledge and strategy before one can become a successful trader.

But even though I'm not a lover of trading I'm not going to ask people to stop trading or they shouldn't look into trading rather anyone who is interested to trade need to ensure that they get the best knowledge to avoid unnecessary losses.

[yixichloro2xx]

This is the reason many complain that trading is not good and stuff , because they are not trading with the right knowledge, treading not like other skill because having the strategy alone won’t save you also have to be mentally prepared too .

A lot of traders are yet to be profitable today, not because they don’t have the knowledge of trading but because their mental health is still what they’re dealing with. And if they don’t get to put that mental health into order, they will never get to be profitable even with the big knowledge they have of the trading market. Trading is very easy to learn but implementing what you have learnt in the chart is very difficult and this is amongst the reason why we have so many unprofitable traders todays despite their bank of knowledge in trading generally.

The purpose of knowledge is to make someone understand and have an idea on how the market works. But having  in trading, knowing what to do  (or an idea) is different from actually doing it. It's very easy to understand Charts, come up with your own strategy , risk management yet still makes poor decisions due to fear , greed etc. There are times when a trade will abandon their strategy due to few losses or become reckless after a winning streak, in summary over leverage trades.
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‎When it comes to trading, someone needs to have a good psychology, because it helps you make good decisions, maintain discipline, and not jumping into every trade due to Fomo. I am not a fan of trading, but I will always advise anyone participating , to accept losses and trade with what they can afford to lose.