5 tips to reduce your risk when trading bitcoins and altcoins

dharnamonitor

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Quote from: vibingpositively on February 16, 2018, 02:58:22 PM

While these are great tips sadly they are not performed by many participants in the market. I just found out that somebody I know had most of their net worth in XRB on Bitgrail and that got hacked a couple weeks back. Truly sucks but you gotta protect yourself in these crazy markets.

Oh? I'm not updated anymore, bitgrail got hacked? That's why we should save our coins on our own crypto wallets instead of exchange sites. The reality is that most of the people doesn't perform those tips because in the first place they don't have any idea what they should do, it happens when someone became an investor or trader without a prior or proper knowledge about those basic disciplines.

BitHodler

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Quote from: Altero on June 23, 2018, 03:04:10 AM

We don't know if you invested with Ripple will boom like that. How about if it won't, then you might regretting it.

XRP this year has experienced the best possible developments and announcements that they could possibly wish for, and it did absolutely nothing. People don't like that token or whatever category it is specified in.

Its centralized nature and insane (well over 50%) pre-mine are too much of an obstacle to discard. Another thing is that the trading volumes of XRP have been declining for a very long period of time, which is alarming.

If XRP ends up increasing then it will happen out of nothing and based on nothing. As easy as it will go up it will come down again. It's a horrible long term investment in my opinion.

coinbeach1

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Coin buy-back coming!

Altero

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Quote from: Venn Harris on May 04, 2018, 07:29:25 AM

I made a great mistake in not buying Ethereum and Ripple in 2017 until 18 May. My mistake was Bitcoin Maximilism. I refused to have anything to do with Ethereum and Ripple because I didn’t like them. As a result I missed these returns. To sum up, I hope that guys will not make mistake like me! Grin

Isn't lucky for you then, people have their own choice. Even though you think that you are wrong but eventually you did also the right thing. We don't know if you invested with Ripple will boom like that. How about if it won't, then you might regretting it. A lot of thing possible to happen, we never loss our hope cause someday it might be your time.

harbin55

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I think there is no way to reduced the risk since it always bear with our investments all time,
if there is only thing is to think briefly and make decision properly and well planned.

damsix

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Id Telegram : @dam_six

like this you are promoting Telegram chanel group in this thread, but it does not matter because everyone has the right to write in this thread, as long as about Cryptocurrency Bitcoin and other Altcoins.

maybe I will add, do not be too greedy in trading Crypto because profit 10% one day alone is enough.

Venn Harris

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I made a great mistake in not buying Ethereum and Ripple in 2017 until 18 May. My mistake was Bitcoin Maximilism. I refused to have anything to do with Ethereum and Ripple because I didn’t like them. As a result I missed these returns. To sum up, I hope that guys will not make mistake like me! Grin

Caradoc Moore

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You should consider the volumes which indicate the liquidity of an asset. The greater the liquidity the easier it is to buy and sell, even when there is turmoil, and the lower the Bid-Offer spread and therefore the cost of trading. You want to avoid assets with tiny liquidity as when the shit hits the fan it will be costly to exit. Bitcoin has world-class liquidity. I run a crypoasset analysis site named Blocklink.info. Here is a screen-grab of the most liquid assets in the world.

BarbusseH

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Read all the news on the coin you are trading, learn their plans, prospects and problems. This can save you from unpleasant surprises.

carriebee

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Quote from: Gozie51 on April 28, 2018, 05:15:10 PM

Quote from: btc100k on February 16, 2018, 11:45:34 AM

4. Don't be a blind bull. ALL markets are cyclical. Don't be afraid of failures or failures on the market - this is where you can earn more money.

Any person that is afraid of failure, is already a failure from the beginning. This point above is very true. You don't expect the market to just go upwards all the time. It goes up and sometimes ,downwards.

That is very helpful don't be a blind bull which is most made a mistakes during trading. Conquer the challenge in the market this will makes you successful taking risks when investing. It is been noted that price went ups and down so we should expect it will happen all the time.

Gozie51

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Quote from: btc100k on February 16, 2018, 11:45:34 AM

4. Don't be a blind bull. ALL markets are cyclical. Don't be afraid of failures or failures on the market - this is where you can earn more money.

Any person that is afraid of failure, is already a failure from the beginning. This point above is very true. You don't expect the market to just go upwards all the time. It goes up and sometimes ,downwards.

futuret

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Quote from: Anatole Thompson on April 26, 2018, 05:36:02 AM

I want introduce you one tip. Trading volumes of cryptoassets are exploding. More Bitcoin is traded daily than Apple or Amazon stocks. How to leverage this phenomenon into trading profit? Binance Exchange is a new global exchange that has quickly entered the top 10 exchanges by trading volume, and rising. They issue their own utility coin.

Things are not looking good with Binance lately so I would advise to not sell out coin during the dips at least. This is the only risk in the world of crypto currencies, selling out a coin when it is falling down due to lack of trust and huge fear. Risk can be only mitigated if a person has a good knowledge of this industry and a very patient nature. Without this, staying here can become really tough.

soza_01

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I want introduce you one tip. Trading volumes of cryptoassets are exploding. More Bitcoin is traded daily than Apple or Amazon stocks. How to leverage this phenomenon into trading profit? Binance Exchange is a new global exchange that has quickly entered the top 10 exchanges by trading volume, and rising. They issue their own utility coin.

Anatole Thompson

newbie

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I want introduce you one tip. Trading volumes of cryptoassets are exploding. More Bitcoin is traded daily than Apple or Amazon stocks. How to leverage this phenomenon into trading profit? Binance Exchange is a new global exchange that has quickly entered the top 10 exchanges by trading volume, and rising. They issue their own utility coin.

baconlike

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Thank you very much for the 5 tips you have put out, but if there are specific examples for each tip would be better. I am new to the crypto market. So many words I have not really understood. But I like the most is your fifth opinion, we should not put all the eggs in the same basket. Distributing them will reduce the risk in business.

coolws

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First, thank you for your tips. From my point of view, just collect news or related information as much as you can, alts often get influenced quickly according to the News. then keep the basic method: buy low and sell high as possible as you can. Last not also important, do not borrow money for trading.

Clark05

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This thread is very helpful to us and for sure newbie that who wants to start trade can apply this when it's start trading. Not only for newbie but also for the expert or successful trader that's want to add this information or knowledge. Thank you brcause you create this thread for us. But the number 1 tips for me to reduce risk is to making a research to prevent losing money because if you do that you can choose a right coin.

bitcoinrays

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Quote from: Tynovten_ on February 17, 2018, 02:48:53 AM

I really like point 3, I often read the thread where he bet his property and in the end he lost and became stress, it's very bad and feel sorry and I can only give him the spirit.

Yeah, it makes a lot of sense and I have really seen people who have done that before and then they ended up messing it all up. Some even go to the extent of seeking out for loans to trade. Sure, for a good trader the seeking out for loan is not bad if you know what you are doing and you can assure yourself of getting good profit, but for someone who really does not have a good idea, that would be a bad one.

expless

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Quote from: vibingpositively on February 16, 2018, 02:58:22 PM

While these are great tips sadly they are not performed by many participants in the market. I just found out that somebody I know had most of their net worth in XRB on Bitgrail and that got hacked a couple weeks back. Truly sucks but you gotta protect yourself in these crazy markets.

Normally, you would not expect everyone to do exactly that and which is the reason we end up having a lot of people in the market who are always busy trading without strategies because they thought they can do it without having some knowledge on trading. It is not about reading charts, or making use of TA or indicators to make decisions; it is to know some basic things like what the OP has mentioned to trade effectively and safely.

zeaderza

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Quote from: BartS on February 16, 2018, 02:47:05 PM

Quote from: btc100k on February 16, 2018, 11:45:34 AM

1. Have a clear target and a clear stop loss
Remember: trading doesn’t need emotions; only reason and rationality. And you just can’t ignore discipline.

2. Sometimes it’s better to take a small percent profit per position (especially during the bear market). Yes, you will need to make more positions for significant gains, but the guarantees of the success will be much higher. The truth is that the best traders in the world aim for small and consistent profits. They know this is the only way to success.

3. Do not trade with money that you need for living expenses. This is called "risk capital" for a reason.

4. Don't be a blind bull. ALL markets are cyclical. Don't be afraid of failures or failures on the market - this is where you can earn more money.

5. Don’t go for one coin, but invest in multiple currencies. That way you’ll spread the risk. In our CryptoMaker Premium channel we post 3-6 actual signals daily – just pick any several coins you prefer and invest. Happy trading!

Most of the advice is solid but I disagree with the fifth point specializing in a few markets or even in one is better, there are many nuisances in the markets that can make the price to go in one direction or the other and the more you trade in a market the more you know it, so trying to trade too many coins is a mistake in my opinion especially when the profits you can get with bitcoin trading are already some of the biggest profits you can get in almost any market.

I would not fully disagree with the last point in a way. Normally, except I am just extra sure of a market, I do not go more than 2% of what I have as my capital as that helps me to spread a lot of risk and then know that even if I stop loss, it would not be affecting my total asset much compared to the profit I will end up having if I end up hitting my sell target. However, based on the way he said it and based on what you have said, I slightly agree with you on just trading so many coins can have some effect trying to monitor them all at once.

prtty2gal2

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Quote from: btc100k on February 16, 2018, 11:45:34 AM

1. Have a clear target and a clear stop loss
Remember: trading doesn’t need emotions; only reason and rationality. And you just can’t ignore discipline.

2. Sometimes it’s better to take a small percent profit per position (especially during the bear market). Yes, you will need to make more positions for significant gains, but the guarantees of the success will be much higher. The truth is that the best traders in the world aim for small and consistent profits. They know this is the only way to success.

3. Do not trade with money that you need for living expenses. This is called "risk capital" for a reason.

4. Don't be a blind bull. ALL markets are cyclical. Don't be afraid of failures or failures on the market - this is where you can earn more money.

5. Don’t go for one coin, but invest in multiple currencies. That way you’ll spread the risk. In our CryptoMaker Premium channel we post 3-6 actual signals daily – just pick any several coins you prefer and invest. Happy trading!

Those are very nice points and can easily help anyone who cares to listen or read to avoid making some terrible mistakes when trading and so many people really do not know that sometimes, the simple things we overlook a lot in trading are some of the things that can earn us those good profits, but of course, we forget that and we get carried away looking for the big wins while some people are earning a lot with the small ones.

zhangxie29152784

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Quote from: btc100k on February 16, 2018, 11:45:34 AM

1. Have a clear target and a clear stop loss
Remember: trading doesn’t need emotions; only reason and rationality. And you just can’t ignore discipline.

2. Sometimes it’s better to take a small percent profit per position (especially during the bear market). Yes, you will need to make more positions for significant gains, but the guarantees of the success will be much higher. The truth is that the best traders in the world aim for small and consistent profits. They know this is the only way to success.

3. Do not trade with money that you need for living expenses. This is called "risk capital" for a reason.

4. Don't be a blind bull. ALL markets are cyclical. Don't be afraid of failures or failures on the market - this is where you can earn more money.

5. Don’t go for one coin, but invest in multiple currencies. That way you’ll spread the risk. In our CryptoMaker Premium channel we post 3-6 actual signals daily – just pick any several coins you prefer and invest. Happy trading!

These are great tips, many investors know, but rarely execute.

Article 5 I feel very good, put the eggs in several baskets.

inskraer

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1) The main thing is not to be greedy and fix your profits. 2) To be ready to lose money

haroldtee

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Quote from: btc100k on February 16, 2018, 11:45:34 AM

2. Sometimes it’s better to take a small percent profit per position (especially during the bear market). Yes, you will need to make more positions for significant gains, but the guarantees of the success will be much higher. The truth is that the best traders in the world aim for small and consistent profits. They know this is the only way to success.

I must say this is my best point from all the ones you mentioned. So many people have fallen victim of this and I used to before in a bear market, so I am not exempting myself, but experience over time, thought me some good lessons. Rather than looking for a big win at times like this, target those small ones which can always give you a good assurance of hitting a sell target. You had be surprise that while you are waiting for the big one, you would have hit smaller ones several times on different markets easily, unless you are a long term trader anyway, which all still balls down to market trend.

At the end, it is always good to find a different strategy for every trend in the market and find a way to adjust to it whenever it is warranted. Always good to have a safe target, and always the best when you keep your stop loss in place. Great one btc100!

bitgolden

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Quote from: marlboroza on February 17, 2018, 04:57:21 AM

Thanks for sharing something which has been asked and discussed million times already.

Quote from: btc100k on February 16, 2018, 11:45:34 AM

5. Don’t go for one coin, but invest in multiple currencies. That way you’ll spread the risk. In our CryptoMaker Premium channel we post 3-6 actual signals daily – just pick any several coins you prefer and invest. Happy trading!

It is wise to spread funds but it doesn't necessary mean that you will lower your risk. Sometimes investing in only one coin is less risky then investing in 10. I am not sure what investment has to do with trading, they are two different things, at least I see investment as something for long term and trading for short.

You’re right. It doesn’t stop the risk you take, but just limit the chances of the risks. But the tips are quite helpful and I believe if anyone follows them it will improve their chances in trading for good. And I like that number 3 tip, what was mentioned there is exactly what some people do.

They just don’t trade with money they need for living expenses, they also borrow money and invest into trade, which to me is total madness, cause you don’t know what will happen to the money if you invest it in trading, you may even end up losing the borrowed money and putting yourself in big problem. It will be much better to invest a borrowed money into a reliable project that will make it grow and not trade with it.

Svelto

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Quote from: btc100k on February 16, 2018, 11:45:34 AM

1. Have a clear target and a clear stop loss
Remember: trading doesn’t need emotions; only reason and rationality. And you just can’t ignore discipline.

2. Sometimes it’s better to take a small percent profit per position (especially during the bear market). Yes, you will need to make more positions for significant gains, but the guarantees of the success will be much higher. The truth is that the best traders in the world aim for small and consistent profits. They know this is the only way to success.

3. Do not trade with money that you need for living expenses. This is called "risk capital" for a reason.

4. Don't be a blind bull. ALL markets are cyclical. Don't be afraid of failures or failures on the market - this is where you can earn more money.

5. Don’t go for one coin, but invest in multiple currencies. That way you’ll spread the risk. In our CryptoMaker Premium channel we post 3-6 actual signals daily – just pick any several coins you prefer and invest. Happy trading!

Good advice you have listed. However, I would like to add on to your points. Always stay informed about the market situation and have an emergency plan in placed to deal with market changes.

H0USE

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If you want to reduce your risk while trading in this such a volatile market then you must follow some basic procedure and security means like:
1:)Don't invest too much in any coin,invest that much you afford to loose
2:)Invest in the coin you have completed knowledge and have some good trading strategies
3:)Sell at higher prices and buy at the dips
4:)Always diversify your portfolio instead of investing in one coin
5:)Don't do panic selling and get eroded by negativity.

orarider

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1. Sell bitcoin as it raises prices.
2. Do not use cash when trading bitcoin and altcoins.
3. keep bitcoin and altcoins at a low price.
4. Do not keep many bitcoin and altcoins.
5. Decrease investment in bitcoin and altcoins when price increases are too high.

mai_mirai

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Very nice tips to our bitcoin trader, I agree with point number 3 don't use money that we need for living expenses and also don't borrow money to trading. Because bitcoin price unpredictable, so it's will high risk if we use that's money to trading.

Oilacris

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Quote from: btc100k on February 16, 2018, 11:45:34 AM

1. Have a clear target and a clear stop loss
Remember: trading doesn’t need emotions; only reason and rationality. And you just can’t ignore discipline.

2. Sometimes it’s better to take a small percent profit per position (especially during the bear market). Yes, you will need to make more positions for significant gains, but the guarantees of the success will be much higher. The truth is that the best traders in the world aim for small and consistent profits. They know this is the only way to success.

3. Do not trade with money that you need for living expenses. This is called "risk capital" for a reason.

4. Don't be a blind bull. ALL markets are cyclical. Don't be afraid of failures or failures on the market - this is where you can earn more money.

5. Don’t go for one coin, but invest in multiple currencies. That way you’ll spread the risk. In our CryptoMaker Premium channel we post 3-6 actual signals daily – just pick any several coins you prefer and invest. Happy trading!

1. Stop loss is always advisable to prevent further loss when price oppose on what you expect even me do always set stop loss into all of my trades.
2. Smaller profits but on constant basis will really be much better compared into big gains with higher risk type of oders.
3. Common sense is need, don't risk your life just using the last money you do have for living.
4. Hard thing since not all people do have this mentality on not easily giving up when facing difficulties.
5. Diversify is always at best.

sofi@

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All points are actually true, a good trader is also a very discipline person I think, they know when to stop and when to control greediness. There's no point in risking all your money especially if they are intended for your daily expenses just because you think you can double its value in a short period of time, because even as much as the market is looking great today you can't be sure it would be the same tomorrow, so if you get a chance to earn today keep it, and don't put everything into the risk.

JC btc

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Quote from: Qartersa on February 18, 2018, 06:04:01 AM

These are definitely all the answers to all ideal situations but it differs when you know the situation given us is not really as it is in real life. How easy it would be if we were given problems that are exactly the same as we have expected, hence, we just have to rely on these guidelines. The thing is, IT IS NOT AS FLAWLESSLY-CRAFTED AS YOU HAVE ENVISIONED IT WOULD BE. In fact, real-life problems are more artistic in a way that you would have to juggle your mind when deciding.

For instance when you say buy low, sell high, it is not as easy to decide on such especially when Bitcoin's price has gone down to less than $6,000 from its $20,000 peak in just a matter of three to four weeks. Of course, as an investor, you are already thinking of salvaging whatever amount is left because you would prefer to go home with a little than with nothing.

You see my point? While everything stated above is ideal, it is not always the case.

For all we know that knowledge is one of the basic trading procedures and one key to gain knowledge is to be updated in the market, by making research and lists all the coins that you want to have in your life.

It is important as well to assess if how much capital we are to take risk, if you are beginner it is important to just invest a small amount and most of all be patient and just relax.

Qartersa

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These are definitely all the answers to all ideal situations but it differs when you know the situation given us is not really as it is in real life. How easy it would be if we were given problems that are exactly the same as we have expected, hence, we just have to rely on these guidelines. The thing is, IT IS NOT AS FLAWLESSLY-CRAFTED AS YOU HAVE ENVISIONED IT WOULD BE. In fact, real-life problems are more artistic in a way that you would have to juggle your mind when deciding.

For instance when you say buy low, sell high, it is not as easy to decide on such especially when Bitcoin's price has gone down to less than $6,000 from its $20,000 peak in just a matter of three to four weeks. Of course, as an investor, you are already thinking of salvaging whatever amount is left because you would prefer to go home with a little than with nothing.

You see my point? While everything stated above is ideal, it is not always the case.

supermine

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Quote from: btc100k on February 16, 2018, 11:45:34 AM

1. Have a clear target and a clear stop loss
Remember: trading doesn’t need emotions; only reason and rationality. And you just can’t ignore discipline.

2. Sometimes it’s better to take a small percent profit per position (especially during the bear market). Yes, you will need to make more positions for significant gains, but the guarantees of the success will be much higher. The truth is that the best traders in the world aim for small and consistent profits. They know this is the only way to success.

3. Do not trade with money that you need for living expenses. This is called "risk capital" for a reason.

4. Don't be a blind bull. ALL markets are cyclical. Don't be afraid of failures or failures on the market - this is where you can earn more money.

5. Don’t go for one coin, but invest in multiple currencies. That way you’ll spread the risk. In our CryptoMaker Premium channel we post 3-6 actual signals daily – just pick any several coins you prefer and invest. Happy trading!

I strongly agree with your point 2,because most of the traders wait for the big margin in their profit but it is good to collect more small profits than a single big profited trade,and you may include another point with you buy low and sell high these are the strategy most traders failed to do because of panic selling.And we never have to trader with money which is needed for our daily life,we should have separate investment capital for doing trading.

Hemady17

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Quote from: btc100k on February 16, 2018, 11:45:34 AM

1. Have a clear target and a clear stop loss
Remember: trading doesn’t need emotions; only reason and rationality. And you just can’t ignore discipline.

2. Sometimes it’s better to take a small percent profit per position (especially during the bear market). Yes, you will need to make more positions for significant gains, but the guarantees of the success will be much higher. The truth is that the best traders in the world aim for small and consistent profits. They know this is the only way to success.

3. Do not trade with money that you need for living expenses. This is called "risk capital" for a reason.

4. Don't be a blind bull. ALL markets are cyclical. Don't be afraid of failures or failures on the market - this is where you can earn more money.

5. Don’t go for one coin, but invest in multiple currencies. That way you’ll spread the risk. In our CryptoMaker Premium channel we post 3-6 actual signals daily – just pick any several coins you prefer and invest. Happy trading!

1 to 4 item is correct but the fifth one is seems your not really a trader because a real one is focusing only on one if not few coins. The rationale of few or only one coins is you are able to focus on your trade. In reality, day trade monitoring for multiple coins is hard. You need to devote your time and focus to become successful.

Shirin16

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Quote from: btc100k on February 16, 2018, 11:45:34 AM

1. Have a clear target and a clear stop loss
Remember: trading doesn’t need emotions; only reason and rationality. And you just can’t ignore discipline.

2. Sometimes it’s better to take a small percent profit per position (especially during the bear market). Yes, you will need to make more positions for significant gains, but the guarantees of the success will be much higher. The truth is that the best traders in the world aim for small and consistent profits. They know this is the only way to success.

3. Do not trade with money that you need for living expenses. This is called "risk capital" for a reason.

4. Don't be a blind bull. ALL markets are cyclical. Don't be afraid of failures or failures on the market - this is where you can earn more money.

5. Don’t go for one coin, but invest in multiple currencies. That way you’ll spread the risk. In our CryptoMaker Premium channel we post 3-6 actual signals daily – just pick any several coins you prefer and invest. Happy trading!

thanks friend ,, very useful and as I know, the crypto world desperately needs patience..
but I am often very difficult in predicting prices. is there any more tips for that?

qiman

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I believe that when there is a bull run you should try to take out your capital from your investment then you are playing with profits and try to do this for every coin. Also when there is a bear market you should then use some of your gains from the previous bull run to buy into cheap coins and the tokens you really believe have some potential. I did not do this in the last cycle so next time around I plan to do this accordingly.

maremostro

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And beware of trading bots coming. Will get harder and harder to get those scalps ... Ppl will start switching from day to medium long bets

Look for products like
icon
neo
etherum

they are platforms for upcoming applications to real life other than drugs

so no wonder lot of ppl think of how could i have overlooked icon

charlotte04

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Quote from: btc100k on February 16, 2018, 11:45:34 AM

1. Have a clear target and a clear stop loss
Remember: trading doesn’t need emotions; only reason and rationality. And you just can’t ignore discipline.

2. Sometimes it’s better to take a small percent profit per position (especially during the bear market). Yes, you will need to make more positions for significant gains, but the guarantees of the success will be much higher. The truth is that the best traders in the world aim for small and consistent profits. They know this is the only way to success.

3. Do not trade with money that you need for living expenses. This is called "risk capital" for a reason.

4. Don't be a blind bull. ALL markets are cyclical. Don't be afraid of failures or failures on the market - this is where you can earn more money.

5. Don’t go for one coin, but invest in multiple currencies. That way you’ll spread the risk. In our CryptoMaker Premium channel we post 3-6 actual signals daily – just pick any several coins you prefer and invest. Happy trading!

Thank you for that trading tips, at the last step, I do see that some charts are the same so I am only trading 2-3 coins so that I could manage to check the charts regularly.

marlboroza

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Thanks for sharing something which has been asked and discussed million times already.

Quote from: btc100k on February 16, 2018, 11:45:34 AM

5. Don’t go for one coin, but invest in multiple currencies. That way you’ll spread the risk. In our CryptoMaker Premium channel we post 3-6 actual signals daily – just pick any several coins you prefer and invest. Happy trading!

It is wise to spread funds but it doesn't necessary mean that you will lower your risk. Sometimes investing in only one coin is less risky then investing in 10. I am not sure what investment has to do with trading, they are two different things, at least I see investment as something for long term and trading for short.

omonuyak

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Quote from: btc100k on February 16, 2018, 11:45:34 AM

1. Have a clear target and a clear stop loss
Remember: trading doesn’t need emotions; only reason and rationality. And you just can’t ignore discipline.

2. Sometimes it’s better to take a small percent profit per position (especially during the bear market). Yes, you will need to make more positions for significant gains, but the guarantees of the success will be much higher. The truth is that the best traders in the world aim for small and consistent profits. They know this is the only way to success.

3. Do not trade with money that you need for living expenses. This is called "risk capital" for a reason.

4. Don't be a blind bull. ALL markets are cyclical. Don't be afraid of failures or failures on the market - this is where you can earn more money.

5. Don’t go for one coin, but invest in multiple currencies. That way you’ll spread the risk. In our CryptoMaker Premium channel we post 3-6 actual signals daily – just pick any several coins you prefer and invest. Happy trading!

These are very key trading principle one can actually keep if you what to be among the professionals traders not only in cryptocurrency but also in stocks and commodities. One of the principle I wanted to build during my forex trading and which breaking it killed my trading carriers is trading with money that I cannot really afford to loses. Most times I collect money from people for investment into forex trading and whenever I make some loses I will be thinking on how I can pay those people they money and that affect me negatively.

RechardSmith

newbie

Activity: 56

Merit: 0

Quote from: BartS on February 16, 2018, 02:47:05 PM

Quote from: btc100k on February 16, 2018, 11:45:34 AM

1. Have a clear target and a clear stop loss
Remember: trading doesn’t need emotions; only reason and rationality. And you just can’t ignore discipline.

2. Sometimes it’s better to take a small percent profit per position (especially during the bear market). Yes, you will need to make more positions for significant gains, but the guarantees of the success will be much higher. The truth is that the best traders in the world aim for small and consistent profits. They know this is the only way to success.

3. Do not trade with money that you need for living expenses. This is called "risk capital" for a reason.

4. Don't be a blind bull. ALL markets are cyclical. Don't be afraid of failures or failures on the market - this is where you can earn more money.

5. Don’t go for one coin, but invest in multiple currencies. That way you’ll spread the risk. In our CryptoMaker Premium channel we post 3-6 actual signals daily – just pick any several coins you prefer and invest. Happy trading!

Most of the advice is solid but I disagree with the fifth point specializing in a few markets or even in one is better, there are many nuisances in the markets that can make the price to go in one direction or the other and the more you trade in a market the more you know it, so trying to trade too many coins is a mistake in my opinion especially when the profits you can get with bitcoin trading are already some of the biggest profits you can get in almost any market.

Hi, I would like to invest in BTC. I'm new in cryptocurrency. Do you have any advice for me or who want to invest in crypto? Thanks.

RechardSmith

newbie

Activity: 56

Merit: 0

Quote from: btc100k on February 16, 2018, 11:45:34 AM

1. Have a clear target and a clear stop loss
Remember: trading doesn’t need emotions; only reason and rationality. And you just can’t ignore discipline.

2. Sometimes it’s better to take a small percent profit per position (especially during the bear market). Yes, you will need to make more positions for significant gains, but the guarantees of the success will be much higher. The truth is that the best traders in the world aim for small and consistent profits. They know this is the only way to success.

3. Do not trade with money that you need for living expenses. This is called "risk capital" for a reason.

4. Don't be a blind bull. ALL markets are cyclical. Don't be afraid of failures or failures on the market - this is where you can earn more money.

5. Don’t go for one coin, but invest in multiple currencies. That way you’ll spread the risk. In our CryptoMaker Premium channel we post 3-6 actual signals daily – just pick any several coins you prefer and invest. Happy trading!

Nice Tips! thanks for sharing.

kolega

member

Activity: 294

Merit: 11

I fully agree with all the above.
I would add a couple more tips to this.
Do not borrow money for trading.
Do not start trading simply because you have nothing to do.
Before you enter the market decide how much you are willing to lose. If you do not decide, do not enter, you will definitely lose everything.

Tynovten_

full member

Activity: 420

Merit: 101

I really like point 3, I often read the thread where he bet his property and in the end he lost and became stress, it's very bad and feel sorry and I can only give him the spirit.

socks435

legendary

Activity: 2058

Merit: 1030

I'm looking for free spin.

Quote from: cicciobtc on February 16, 2018, 06:04:35 PM

Quote from: BartS on February 16, 2018, 02:47:05 PM

Quote from: btc100k on February 16, 2018, 11:45:34 AM

1. Have a clear target and a clear stop loss
Remember: trading doesn’t need emotions; only reason and rationality. And you just can’t ignore discipline.

2. Sometimes it’s better to take a small percent profit per position (especially during the bear market). Yes, you will need to make more positions for significant gains, but the guarantees of the success will be much higher. The truth is that the best traders in the world aim for small and consistent profits. They know this is the only way to success.

3. Do not trade with money that you need for living expenses. This is called "risk capital" for a reason.

4. Don't be a blind bull. ALL markets are cyclical. Don't be afraid of failures or failures on the market - this is where you can earn more money.

5. Don’t go for one coin, but invest in multiple currencies. That way you’ll spread the risk. In our CryptoMaker Premium channel we post 3-6 actual signals daily – just pick any several coins you prefer and invest. Happy trading!

Most of the advice is solid but I disagree with the fifth point specializing in a few markets or even in one is better, there are many nuisances in the markets that can make the price to go in one direction or the other and the more you trade in a market the more you know it, so trying to trade too many coins is a mistake in my opinion especially when the profits you can get with bitcoin trading are already some of the biggest profits you can get in almost any market.

focusing on 1 currency or 1 market can be a strategy, but I think it is important to differentiate investments by having more options to turn over other coins or markets if at that time they are more profitable.

Its depends if what coin you invested but if you are just staying trading BTC/USD well its always good result to make a profit the only important part for trading is emotion and news have a huge impact too,., Analysis is not really guaranteed result now a days the traders and new comers are always relaying on the news..

Just always do the basic way for trading buy low and sell high possible that you can make a huge profit if you can stay calm while you trading. and be patience.

cicciobtc

legendary

Activity: 1148

Merit: 1001

Quote from: BartS on February 16, 2018, 02:47:05 PM

Quote from: btc100k on February 16, 2018, 11:45:34 AM

1. Have a clear target and a clear stop loss
Remember: trading doesn’t need emotions; only reason and rationality. And you just can’t ignore discipline.

2. Sometimes it’s better to take a small percent profit per position (especially during the bear market). Yes, you will need to make more positions for significant gains, but the guarantees of the success will be much higher. The truth is that the best traders in the world aim for small and consistent profits. They know this is the only way to success.

3. Do not trade with money that you need for living expenses. This is called "risk capital" for a reason.

4. Don't be a blind bull. ALL markets are cyclical. Don't be afraid of failures or failures on the market - this is where you can earn more money.

5. Don’t go for one coin, but invest in multiple currencies. That way you’ll spread the risk. In our CryptoMaker Premium channel we post 3-6 actual signals daily – just pick any several coins you prefer and invest. Happy trading!

Most of the advice is solid but I disagree with the fifth point specializing in a few markets or even in one is better, there are many nuisances in the markets that can make the price to go in one direction or the other and the more you trade in a market the more you know it, so trying to trade too many coins is a mistake in my opinion especially when the profits you can get with bitcoin trading are already some of the biggest profits you can get in almost any market.

focusing on 1 currency or 1 market can be a strategy, but I think it is important to differentiate investments by having more options to turn over other coins or markets if at that time they are more profitable.

boakyei

member

Activity: 358

Merit: 11

Do paper trading for months before committing your real cash on trading. This will save you from losing your initial investment. If possible learn direct from a real trader before doing it yourself.

BettingTips

full member

Activity: 238

Merit: 102

OPEN GAMING PLATFORM

Beside I think collecting news is also really important for trader. The news related to cryptocurrency has very big effect to cryptocurrency so if you don't want to lose your money or reduce the risk when trading I think we should collect and check the news everyday or maybe every hour. As we can see everytime when John McAfee share anything related to cryptocurrency like ICO or coin of the week, these coin or ICO project often become more attractive than usual very quickly.

felipe04

full member

Activity: 308

Merit: 100

Bitcoin price is unpredictable follow by many altcoins and it's keep alive or continue to grow by the popularity and also by follow by many altcoins so i say we need only to depend on the news like if the digital currency still popular so the price will still grow little by little,I think best tips here is invest only just a little then if you already earn in that try again and again even it's just a little investing like 0.005 btc you can still earn by that

vibingpositively

full member

Activity: 224

Merit: 100

While these are great tips sadly they are not performed by many participants in the market. I just found out that somebody I know had most of their net worth in XRB on Bitgrail and that got hacked a couple weeks back. Truly sucks but you gotta protect yourself in these crazy markets.

BartS

sr. member

Activity: 980

Merit: 255

Quote from: btc100k on February 16, 2018, 11:45:34 AM

1. Have a clear target and a clear stop loss
Remember: trading doesn’t need emotions; only reason and rationality. And you just can’t ignore discipline.

2. Sometimes it’s better to take a small percent profit per position (especially during the bear market). Yes, you will need to make more positions for significant gains, but the guarantees of the success will be much higher. The truth is that the best traders in the world aim for small and consistent profits. They know this is the only way to success.

3. Do not trade with money that you need for living expenses. This is called "risk capital" for a reason.

4. Don't be a blind bull. ALL markets are cyclical. Don't be afraid of failures or failures on the market - this is where you can earn more money.

5. Don’t go for one coin, but invest in multiple currencies. That way you’ll spread the risk. In our CryptoMaker Premium channel we post 3-6 actual signals daily – just pick any several coins you prefer and invest. Happy trading!

Most of the advice is solid but I disagree with the fifth point specializing in a few markets or even in one is better, there are many nuisances in the markets that can make the price to go in one direction or the other and the more you trade in a market the more you know it, so trying to trade too many coins is a mistake in my opinion especially when the profits you can get with bitcoin trading are already some of the biggest profits you can get in almost any market.

btc100k

jr. member

Activity: 40

Merit: 1

1. Have a clear target and a clear stop loss
Remember: trading doesn’t need emotions; only reason and rationality. And you just can’t ignore discipline.

2. Sometimes it’s better to take a small percent profit per position (especially during the bear market). Yes, you will need to make more positions for significant gains, but the guarantees of the success will be much higher. The truth is that the best traders in the world aim for small and consistent profits. They know this is the only way to success.

3. Do not trade with money that you need for living expenses. This is called "risk capital" for a reason.

4. Don't be a blind bull. ALL markets are cyclical. Don't be afraid of failures or failures on the market - this is where you can earn more money.

5. Don’t go for one coin, but invest in multiple currencies. That way you’ll spread the risk. In our CryptoMaker Premium channel we post 3-6 actual signals daily – just pick any several coins you prefer and invest. Happy trading!

Topic: 5 tips to reduce your risk when trading bitcoins and altcoins (Read 511 times)