Topic: A good advice for every traders. - page 7. (Read 3688 times)
Actually, I'm trying to use my new trading strategy. I use 24 tools on Investing.com and its correct rate is quite high. the indicators and analysis have been reported by them on their website, my job is just to see and see more buy signals I will buy or vice versa. My job now is to manage capital well and sometimes I have to look at the chart to know how much it grows and profit after that. I think this is a pretty good method and it will save you time. I currently have a 3.3% profit on my $ 500.
While this method isn’t the most “efficient” way to trade and maximize profits, I believe this method allows you to have the best win percentage:
1) keep your long term bags in cold storage regardless of price action unless it lambo moons and it’s time to sell
2) keep your “play money” on a leveraged exchange and play the market each day or week as you truly believe it will play out
By following these rules: you won’t miss out on a lambo if your long term bag pops but you got caught trading it and ultimately you won’t be biased on your trading funds because of your lambo bags which will allow you to win more and at a higher rate if you use leverage.
Beating the psychological barrier to trading is the ultimate key to success. Hope this helps somebody like it has helped me.
1) keep your long term bags in cold storage regardless of price action unless it lambo moons and it’s time to sell
2) keep your “play money” on a leveraged exchange and play the market each day or week as you truly believe it will play out
By following these rules: you won’t miss out on a lambo if your long term bag pops but you got caught trading it and ultimately you won’t be biased on your trading funds because of your lambo bags which will allow you to win more and at a higher rate if you use leverage.
Beating the psychological barrier to trading is the ultimate key to success. Hope this helps somebody like it has helped me.
Personal logic with business logic must be one-way. If we don't manage to make the smart trades the losses are going to be massive and the wins will be tiny. You have to keep a close record of your trades and make sure you don't get stopped out in these massive fields of chopiness. You have to stick to your strategy if you trust it and have good money management.
I believe that a professional trader does not have any problems with analyzing his transactions and in general with practice. Personally, I am constantly questioned by certain actions or plans, because I still do not have much experience in cryptocurrency trading. Even when mastering scalping technology, I very often doubt the decision on which graphs to pay attention to, on the graphs of 30 minutes or one day. Although for the most part it depends on the chosen coin.
Personal logic with business logic must be one-way. If we don't manage to make the smart trades the losses are going to be massive and the wins will be tiny. You have to keep a close record of your trades and make sure you don't get stopped out in these massive fields of chopiness. You have to stick to your strategy if you trust it and have good money management.
Great idea record the reason when you open trade, I will start today recording why opening a trade I agree with you everyone should need to do record his/her trading for accurate his/her trading strategy.
Well, I accept as true with you that we should always act cautiously within the workplace additionally to recording work we should always keep a backup subfile because we will easily recover errors if they're lost or lost. Also I totally accept as true with your argument.
Most of the people see the profit, they don't check what experienced traders have to say, they do that only after they lose some money. I was like that in the beginning too, we all were probably. There're many good pointers for newbies who wish to trade. If I can give any advice that hasn't been mentioned is that newbies should take it easy when they start with trading, to not rush for profit. Spend more time observing the market, less time in trading.
"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.
Actually, the first requirement before investing or trading is an actual amount of money ranging to a specific minimum amount to a maximum one before knowing what the basics are, because you can't do a trade by just knowing how to do it and what are the things you need to know about it, in the end the money is the first thing you should have here. If you are a beginner use only the amount you can afford to lose for less disappointment if ever you failed or do it wrong. Your experienced doing it will become your teacher for future trade, but if you still unlucky and doing it unsuccessful you need to seek for learning and advice to those who excel in trading. It is not only about buying and selling of goods and services but also on what you can contribute to your party and society. Do not stick on what is happening today, see also what might happen in the near future. If you are brave enough to take a risk always give your best shot everytime you trade. Your mentality will be your great weapon to your success. 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.
A good advice I can give to everyone is to make trades using your heads and not using your emotions and read and watch more to learn more. I've been trading way back I may say that I'm really noob that time all I know was if I saw a large red that's a great time to buy and it keeps going down and I obviously panicking and selling it at its lowest which is very dumb, the good thing is that there are some free courses and articles that you can use in order for you to step back to the game.
Now I know some of the basics and intermediates in trading and so far I'm earning a little unlike before that I literally doing shits to my assets.
Now I know some of the basics and intermediates in trading and so far I'm earning a little unlike before that I literally doing shits to my assets.
Learn to know all basic about trading, charts, indicators and many more. This things is very important if you're going to enter to this field and upon reading some post of other members it seems they also said to control our emotions. Besides, our emotion have a very important role in our trading activity and when you let your emotion win and you can't control it, it will result to your big losses and can even lead to your bankcrupt. I'm not a good trader and I am still learning more things about trading but if you are a newbie you should stick your investment within the top-performing cryptocurrencies in the market.
One way technique for trader always use your money for investing with several potential coin and never invest and hold only with one coin, I think if you have 1 bitcoin you can invest several altcoin kinds and use 0,1 btc each your coin investing, maybe take worth for getting profit and stop lost when your coin assets not reach with higher price.
combining to invest in some potential coins can certainly vary the profits we will get. the profit we get from trading will indeed be better used to buy back some potential coins so that it can be interesting to multiply the bigger profits
that is very good advice, there are many ways to manage it but the most important thing in my opinion is how to control greed when profit and panic when lose, most of traders are eaten by greediness
Agree, we should manage our emotions because through controlling we might place best orders when we make profits we should use the profit wisely otherwise it is impossible for us to recover from the loss. In crypto, money management will play an important role in trading.
Great idea record the reason when you open trade, I will start today recording why opening a trade I agree with you everyone should need to do record his/her trading for accurate his/her trading strategy.
Those are powerful advice which is applicable for most traders who are afraid of taking the risks in trading. We should accept the fact that there's no perfect trading journey and there will always be losses along the way but we have to deal with it. There will always be lapses and mistakes but we should always learn from it to do better next time.
Lose and mistakes do not take your trading away from perfection. As every picture has two sides, everything has advantages and disadvantages, trading also have both profits and loss. Mistakes make things more clear for you than before and make you even stronger. The best part of your life is first noticing and then accepting those mistakes, and starts your journey toward a productive end. 
Agree, we should manage our emotions because through controlling we might place best orders when we make profits we should use the profit wisely otherwise it is impossible for us to recover from the loss. In crypto, money management will play an important role in trading.
Even if you know how to manage your emotion, if you lack knowledge in selecting which coin is good to buy at the right time, that will be useless. You will just end up buying coins that you think based on your controlled emotion is good. Knowing how to read graphs and using tools in trading is essential, then next is controlling your emotions. 
that is very good advice, there are many ways to manage it but the most important thing in my opinion is how to control greed when profit and panic when lose, most of traders are eaten by greediness
Agree, we should manage our emotions because through controlling we might place best orders when we make profits we should use the profit wisely otherwise it is impossible for us to recover from the loss. In crypto, money management will play an important role in trading.
Even when your trading logic is solid, and based on watching other successful people, following the logic is the hardest part. It's simply not that easy, emotions get in the way.
Being emotional is not a good thing in trading but we should trade with good senses and overcome greed in trading. We decide to trade then will have to follow the rules as well. We saw so many successful people in the trading journey but we can’t trust them all just make proper research while trusting any trading person even if he is the most successful trader but trade only with your own knowledge.Based on the fact that emotions often move the market, we must learn to have enough agility to know when the movements occur because of emotions and when it is the action of whales, whales may often place their bullish traps, the trader Who learns to see this kind of movements, will have long-term gains. This type of teaching is what the great famous speculator Jesse Livermore advises in his books, although it was applied in the stock market between the years (1800-1923) they are currently valid and applied to the Bitcoin market.
One way technique for trader always use your money for investing with several potential coin and never invest and hold only with one coin, I think if you have 1 bitcoin you can invest several altcoin kinds and use 0,1 btc each your coin investing, maybe take worth for getting profit and stop lost when your coin assets not reach with higher price.
Even when your trading logic is solid, and based on watching other successful people, following the logic is the hardest part. It's simply not that easy, emotions get in the way.
Being emotional is not a good thing in trading but we should trade with good senses and overcome greed in trading. We decide to trade then will have to follow the rules as well. We saw so many successful people in the trading journey but we can’t trust them all just make proper research while trusting any trading person even if he is the most successful trader but trade only with your own knowledge.I think investors already know this.
New investors should be wary of this. As cryptocurrencies are very volatile, we should not be calm on the pump, hence we should be ready to what might happen in the future. You know, the best thing that an investor can do is read and read and read. Knowledge can help you a lot, it could make anyone rich to be honest.
It is important for investors to remind always, as a crypto member, it is always our moral obligation to at least help each other as we also don't want someone to be a victim of scam or any kinds of fraud. We've been there before and with the help of other people, we learned, if not for other people maybe we are still investing in new projects, trying and trying our best.
Even when your trading logic is solid, and based on watching other successful people, following the logic is the hardest part. It's simply not that easy, emotions get in the way.
Being emotional is not a good thing in trading but we should trade with good senses and overcome greed in trading. We decide to trade then will have to follow the rules as well. We saw so many successful people in the trading journey but we can’t trust them all just make proper research while trusting any trading person even if he is the most successful trader but trade only with your own knowledge.I think investors already know this.
New investors should be wary of this. As cryptocurrencies are very volatile, we should not be calm on the pump, hence we should be ready to what might happen in the future. You know, the best thing that an investor can do is read and read and read. Knowledge can help you a lot, it could make anyone rich to be honest.
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.
Some thoughts: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.
ad1. Get a strict set of rules.. don't try to rationalize everything as you can always find a logical reason to follow with your action
ad2. this is similar to 1. get a set of rules and simply don't trade if the criteria are not met
ad3. stop loss is meh, take profit based on your set of rules
ad4. thsi is quite obvious, you gotta learn to improve. if you don't, then others do and outplay you. staying in place is moving backwards.
ad5. is the same as 4
ad6. journal is a must. if you don't have your notes online on the chart then you need to keep it in a journal. it is a good idea even if you keep other type of reminders.
ad7. let's
Jump to: