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Author Topic: What are your suggestions for good trading for me?  (Read 1126 times)
DanWalker
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Today at 08:15:36 AM
 #121

I'd recommend you using a very small leverage, as a beginner or intermediate trader, it's best to use small leverage because it minimizes your risk of fast liquidation. Bitcoin is safe to trade but if you are looking for altcoins to trade, I'd recommend you go for solid coins like ETH and the rest, I don't trade meme coins or any random coin because the volatility can be crazy at time. Personally, I'm trading just Bitcoin and XRP for now.
Using smaller leverage is a good idea most especially as a new trader without much experience of the market and however even if we become more experienced in the trading journey we shouldn’t just go for higher leverage without applying proper risk management. High leverage comes along with risk so we need to be super careful of things we do.

Other tokens aside the most reliable and reputable ones can be risky and we don’t know much about their volatility so let focus on the top coins and trade with them we can make good profit from it when we apply good risk management.

Leveraged trading is no different from gambling, regardless of the pair you trade or the leverage.
If we are truly serious about trading, the right approach is to stay away from the future and focus more on spot trading. According to basic investment principles, the first thing a new investor should learn is how to survive in the market, not how to make quick profit.

Therefore, encouraging new trader to use either small or large leverage is a bad idea. Thats the mindset of a gambler hoping to get rich quick.

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Queen uloma
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Today at 05:21:12 PM
 #122

Trading may look easy from the outside but once you go into the market, that’s where you would realize that it’s not easy as you think. I have trade before, and one thing I have learnt is that profit does not come every time. Even experience traders still encounter losses in sometimes. The only difference is that they  know how to manage risk and they don’t allow bad traders to wipe their account.
When a person doesn’t have enough experience, spot trading is more safer more than futures. Futures  may give big profit, but it can still make you lose your money quickly because of leverage. Spot  trading gives you time to hold your coin when the price drops, while futures can liquidate your position within minutes. My advice for you beginners is that, learn technical analysis, never use money that you can’t afford to lose and avoid over trading because of greed.

ZAINmalik75
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Today at 06:30:39 PM
 #123

Leveraged trading is no different from gambling, regardless of the pair you trade or the leverage.
If we are truly serious about trading, the right approach is to stay away from the future and focus more on spot trading. According to basic investment principles, the first thing a new investor should learn is how to survive in the market, not how to make quick profit.

Therefore, encouraging new trader to use either small or large leverage is a bad idea. Thats the mindset of a gambler hoping to get rich quick.
So many people are making the mistake of getting into futures trading at the beginning of their journey in this market only with the hope of making bigger profits early on, but as you said, that's not what they should be doing as beginners because your first priority as a newbie should be to educate yourself with the market and trading principals instead of trying to make a lot of profits right after you join this market because this mindset will only bring disappointment at the end.

To be honest, such people are actually misguided because they watch a lot of videos related to trading on social media and people are mostly boasting about their huge returns they are getting from futures trading, and then such people think of getting the same results but they don't realize that the risks involved are huge and that instead of making profits, they can also lose all their funds in it.

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Today at 07:25:53 PM
 #124

Trading may look easy from the outside but once you go into the market, that’s where you would realize that it’s not easy as you think. I have trade before, and one thing I have learnt is that profit does not come every time. Even experience traders still encounter losses in sometimes. The only difference is that they  know how to manage risk and they don’t allow bad traders to wipe their account.
When a person doesn’t have enough experience, spot trading is more safer more than futures. Futures  may give big profit, but it can still make you lose your money quickly because of leverage. Spot  trading gives you time to hold your coin when the price drops, while futures can liquidate your position within minutes. My advice for you beginners is that, learn technical analysis, never use money that you can’t afford to lose and avoid over trading because of greed.
Trading is not for anyhow people that don't understand how it works. Some people are looking for how to make quick profits from trading and because of their curiosity to make money, they will end up losing money instead of becoming profitable.
There are so many things to learn about trading but many traders are not ready to learn but interested to make money.

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Today at 08:12:04 PM
 #125

Using smaller leverage is a good idea most especially as a new trader without much experience of the market and however even if we become more experienced in the trading journey we shouldn’t just go for higher leverage without applying proper risk management. High leverage comes along with risk so we need to be super careful of things we do.

Other tokens aside the most reliable and reputable ones can be risky and we don’t know much about their volatility so let focus on the top coins and trade with them we can make good profit from it when we apply good risk management.
If you are a new trader, you should not use leverage, not big nor small. If you are a big trader who has done very well at spot trading, then you can start with small at leverage and if you do that very well for a while longer than you have two options, either you keep doing small leverage but bigger trade size, or you keep the trade size same and do bigger leverage.

But both of them require years and years, you are not going to get there on day 1 of your trading, nor day 100, this takes YEARS. You need to first learn to do very well spot trading, do that for lets say 2 years for example and have a good chunk of profit on both years, then you can start to test small size on leverage, rest is up to how well you do, if you do well, go up, if not, go back.
This is true, I think starting with leverage should be something people should do years later and we should be considering how we could make a profit out of this and we could do a great return if we could use spot trading and we could make a lot better situation. We can't really consider how leverage could be out, because it is not really considering how people could make money with it very quickly.

So we can't really just trade without any knowledge and hope that leverage will make us profit. And this is why we can't really consider how this could be different, it's just not that easy at all to handle. However, if we learn a lot then we are going to get a lot better on the long run and can do a better job if we take our time.

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