Topic: A good advice for every traders. - page 15. (Read 3635 times)
Nice help and a good advice for all. I am going to add more idea wherein the vast majority of the traders have different kind of ideas and approach in the market "Psychological" so not everyone can get foxed and focus im sure they will find another additional info along the way.
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You need always to research and analyze the coin you want to buy and don't use other people's analysis before you did by yourself. But I don't record the reason for opening trade because the situation will be different from one coin to another coin. So I trade if I can see the coin can move good on that day and I can see that the chart will have a chance to give me the profit. But other things will be my reason to trade because every day, the situation will not be the same.
I love the point take the profit and stop the loss strictly because many users expecting more profit and losing their money on investing more on money on exchanges.
See people always have trading as the partial income resource and plant the other running option partially and invest on the right coin at the right time if you follow these both things will be able to make some money and for new business I will suggest you to don't go in trading field as a newbie.
Greediness is the main reason why a lot of traders are losing trades and money. They are not contented with the gains that they are seeing on their position so they tend to wait for a higher price or just ignore it completely. Take profit target and stop losses are essentials in trading because that will discipline you enough to have a huge profit margin with minimal potential losses.See people always have trading as the partial income resource and plant the other running option partially and invest on the right coin at the right time if you follow these both things will be able to make some money and for new business I will suggest you to don't go in trading field as a newbie.
I love the point take the profit and stop the loss strictly because many users expecting more profit and losing their money on investing more on money on exchanges.
See people always have trading as the partial income resource and plant the other running option partially and invest on the right coin at the right time if you follow these both things will be able to make some money and for new business I will suggest you to don't go in trading field as a newbie.
Greediness is the main reason why a lot of traders are losing trades and money. They are not contented with the gains that they are seeing on their position so they tend to wait for a higher price or just ignore it completely. Take profit target and stop losses are essentials in trading because that will discipline you enough to have a huge profit margin with minimal potential losses. See people always have trading as the partial income resource and plant the other running option partially and invest on the right coin at the right time if you follow these both things will be able to make some money and for new business I will suggest you to don't go in trading field as a newbie.
I love the point take the profit and stop the loss strictly because many users expecting more profit and losing their money on investing more on money on exchanges.
See people always have trading as the partial income resource and plant the other running option partially and invest on the right coin at the right time if you follow these both things will be able to make some money and for new business I will suggest you to don't go in trading field as a newbie.
See people always have trading as the partial income resource and plant the other running option partially and invest on the right coin at the right time if you follow these both things will be able to make some money and for new business I will suggest you to don't go in trading field as a newbie.
Usually, we are trading with market, and we have our own trading logic. But , after you are trading for a long time , you will find you are trading with yourself and the biggest enemy is you.
You may have a good trading logic , and you always earning money from the market , but you are still afraid of lossing, am i right?
Every trader should believe in his own trading logic just like a belief, you can't move it. Lossing are not terrible and you should like it.
So i have some advices:
1. make sure you are believe in your trading logic
2. record the reason when you open trade
3. take profit and stop loss strictly
4. back to the records when you close trade, and think why you are earning or lossing
5. according to the records , if you find something wrong with your trading logic, fix it
6. add your trade into a trade journal (advice from @GreatArkansas)
7. do the things 1-6 above again
Does any trader record the reason of opening trade? And how do you guys practice it? Let's talk about it.
Agree, making a trading journal is a good way to improve your self-control during trading. It may sound cliche but controlling yourself, sticking to the plan during a trade is harder than many people think. In a pump, when the price is already above your target, you could still hope the price would go up more so you didn't close your position. This kind of immediate decision that leads to most losses.You may have a good trading logic , and you always earning money from the market , but you are still afraid of lossing, am i right?
Every trader should believe in his own trading logic just like a belief, you can't move it. Lossing are not terrible and you should like it.
So i have some advices:
1. make sure you are believe in your trading logic
2. record the reason when you open trade
3. take profit and stop loss strictly
4. back to the records when you close trade, and think why you are earning or lossing
5. according to the records , if you find something wrong with your trading logic, fix it
6. add your trade into a trade journal (advice from @GreatArkansas)
7. do the things 1-6 above again
Does any trader record the reason of opening trade? And how do you guys practice it? Let's talk about it.
Another way to keep yourself from deviating from the plan is setting take-profit and stop-loss right after executing the trade. Over time, when you have better discipline, these TP-SL can be changed according to current market dynamic.
1. make sure you are believe in your trading logic
Does any trader record the reason of opening trade? And how do you guys practice it? Let's talk about it.
Who is not afraid of losing something? Of course we all do.
It is our money and that is why we take care of it.
IMO, the greatest enemy is that. We took care so much of our money and we forgot to take the risk.
There is always that risk for a better profit. I do believe in that.
The larger the risk the higher amount you could have and vice versa.
It is our money and that is why we take care of it.
IMO, the greatest enemy is that. We took care so much of our money and we forgot to take the risk.
There is always that risk for a better profit. I do believe in that.
The larger the risk the higher amount you could have and vice versa.
It's true that every trader have a tendency to make a profit so they have to follow some trick like what you mentioned here, I also want to add a point that no one should take any decision based on emotion because it's a place where you have to look into very carefully, If anyone could maintain a data record then it might be helpful for the further trading purpose, for me, when you have a lot of information then you can make a decision based on this and it's very true that information based decision would bring a positive vibe. so the more you study about the trading, the more you gain in this system.
I totally agree with the advice mentioned in the opening post. Especially point number 3, which is take profit and
stop loss strictly. Indeed, in trading our goal is to make a profit, therefore we must set a target profit we want to
get. And also use the stop loss feature to save the capital we have so that it doesn't run out if the price coins that
we buy have decreased. We must admit crypto trading is an activity that has a high risk, so it is we should follow
a good advice as mentioned in the opening post.
stop loss strictly. Indeed, in trading our goal is to make a profit, therefore we must set a target profit we want to
get. And also use the stop loss feature to save the capital we have so that it doesn't run out if the price coins that
we buy have decreased. We must admit crypto trading is an activity that has a high risk, so it is we should follow
a good advice as mentioned in the opening post.
From my experience, before you get into a trade, know your targets and stop loss price. Know going into the trade what percent of your capital you stand to gain or lose depending on which way it goes. be fully comfortable with either outcome and the associated gain or loss before placing your order. also Don't risk too much on any one trade. If you are a good trader, give yourself and your capital time to prove it. If you are over-leveraged a few bad trades in a row can crush you even if you are making good trades 50 percent of the time. be steady and consistent with your risk management.
Yes. Set up your end goal clearly. Before starting to trade, make sure that you are equipped already with the basic knowledge needed in trading so that if you find trading not following your expectation, you will find ways how to make it right and still make profits in the end. 
From my experience, before you get into a trade, know your targets and stop loss price. Know going into the trade what percent of your capital you stand to gain or lose depending on which way it goes. be fully comfortable with either outcome and the associated gain or loss before placing your order. also Don't risk too much on any one trade. If you are a good trader, give yourself and your capital time to prove it. If you are over-leveraged a few bad trades in a row can crush you even if you are making good trades 50 percent of the time. be steady and consistent with your risk management.
I agree especially with the stop-loss. This can lock in you gains or even just prevent a big loss in a situation where the price drops quickly. It’s an important trading tool.
One of the most effective way is the stop loss as for those who have limited money and cannot take much risk should always go with stop loss . This is the saver for many as helps you from the downturn and also limits your losses to great extent .
"Invest only what you are afford to loose."
This was the first advice I had got from my teacher and will tell the same thing to everyone whose trying to start trading in any manner.
Or invest only what you have now. I've seen some people in here asking and seeking for advice if they can just sell their belongings like a valuable ring, house and even property. I never think of trading to be this obsessive. The first thing to have before entering the trading, you must have a capital either big or small it does not matter, as long as you are ready to lose it and so selling things just to risk with trading is wrong for me, unless if you are millionaire.This was the first advice I had got from my teacher and will tell the same thing to everyone whose trying to start trading in any manner.
Go with your instincts. Logic is not perfect.
"Invest only what you are afford to loose."
This was the first advice I had got from my teacher and will tell the same thing to everyone whose trying to start trading in any manner.
Go with your instincts. Logic is not perfect.
Yes! Indeed! This is what I am talking about! We need to invest the thing that we can afford to lose or I mean what is our excess , do not invest all our money if we do not have extra better to have emergency funds rather than having nothing, because in trading there is no definite trading technique. This was the first advice I had got from my teacher and will tell the same thing to everyone whose trying to start trading in any manner.
Go with your instincts. Logic is not perfect.
Looking back on our past track record might do the work. So we know what we did wrong and the next time we could fix that errors in our way of trading. You know what, when you enter the market you need to put this in your mind, how much you're willing to lose by investing in one specific alts or something. How much losses could you bear to have. That's what stop-losses are for. As the saying goes, only invest what you can afford to lose. Still, people needs to fully understand the meaning of that words.
Don't be afraid of your losses. As long as it ain't an all in move (which is investing all of your funds on one specific coin), it could be a good experience. Don't forget your mistakes, learn from them.
Don't be afraid of your losses. As long as it ain't an all in move (which is investing all of your funds on one specific coin), it could be a good experience. Don't forget your mistakes, learn from them.
I already did that and even sometimes lost I still get income. That is basic trading that people need to know and become saver from bigger lost. Use any strategy you like but start like your post, never change the number before the price reach your limit.
Some people are too greedy enough to lose because they really deserve that for taking or expecting too much. And that will trigger them to change the number that they tend to sell or buy. Trading is a little complicated if you don't have a knowledge about it you will probably gonna burn all of your balance. Trading need some patients and knowledge to use different strategies. 
These are very basic logic for every single trader, if you are not doing any of these you have been doing trading very wrong so far. I agree with every single step OP has talked about because these are basically the most important parts of trading, without any of these you are looking at a trading that has no purpose and you would never know what do with your next trade since you didn't learned your lessons.
Hence, do these things but don't think that these will be enough, these are just the most basic bare things you have to do without putting anything on top of it, you do these but then you add on top of these from what you learn and make it better and better the more you trade. At least learn a bit of chart reading on top of these as well.
Hence, do these things but don't think that these will be enough, these are just the most basic bare things you have to do without putting anything on top of it, you do these but then you add on top of these from what you learn and make it better and better the more you trade. At least learn a bit of chart reading on top of these as well.
I already did that and even sometimes lost I still get income. That is basic trading that people need to know and become saver from bigger lost. Use any strategy you like but start like your post, never change the number before the price reach your limit.
Stop-loss is almost always taken into account into trading. Without it, you're basically going all in with every trade you do. As for assuming something is wrong with your trading logic, at times, it might be wrong and at times it might be correct. Fixing it doesn't necessarily mean your logic was wrong, but rather the market moved in an unexpected way that your logic didn't take into account for. That's the time where you add that certain plausible situation to your logic, taking into account every possible situation you could think of.
But that's almost impossible since there's close to n-number of results BTC might take, so instead, limit your possible losses. It's actually more efficient to limit your possible losses instead of improving or upgrading the logic towards earning more since improving equates to risk, but limiting equates to stability.
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But that's almost impossible since there's close to n-number of results BTC might take, so instead, limit your possible losses. It's actually more efficient to limit your possible losses instead of improving or upgrading the logic towards earning more since improving equates to risk, but limiting equates to stability.
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What did you say is the best word i heard in these days. Thank you sir!
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