Topic: Basic things that you need to know before starting in trading - page 5. (Read 808 times)
With the introduction of stable coin, it has became easier to limit your loss. And the profit on your holding are unlimited. If you want to earn a constant profit, don't keep holding for ATH but sell some everytime you have a good profit. Holding 50% for higher price and trading other 50% for price fluctuation would be a much safer bet.
"Trading is not an Aladdin's lamp that will make someone a millionaire one day."
This is so true, many newbies tend to go to trading because they think that they can suddenly make huge amount of money, the get rich scheme mentality. And then complain later that they have lost so much money in this market and blame everyone except themselves.
So as a beginners, it's really a must to understand this simply and basic principles of trading, specially crypto because it behaves very differently as compare to other traditional markets.
This is so true, many newbies tend to go to trading because they think that they can suddenly make huge amount of money, the get rich scheme mentality. And then complain later that they have lost so much money in this market and blame everyone except themselves.
So as a beginners, it's really a must to understand this simply and basic principles of trading, specially crypto because it behaves very differently as compare to other traditional markets.
I don' understand about that 70% profits margin? We should have that much as goal to reach?
I would say better have realistic profits if you want to achieve it, lets say 5% in a month which is highly possible and 60% in a year way more than traditional investment.
I would say better have realistic profits if you want to achieve it, lets say 5% in a month which is highly possible and 60% in a year way more than traditional investment.
Same here, making more realistic as OP mentioned that it's not an aladdin lamp so better
to look for realistic and achievable profits.
Most of the time the percentage that you have said is the achievable goal to every traders
who play around this market.
It's a process and along the way you'll be able to create your own strategy that will fits you
and will generates you decent profits.
When I was a starter, I do remember these basic things;
And other things will follow like learning some technica analysis, setting stop loss, adding indicators, formulating strategy and risk management, etc. We can also be a better trader from being a noob if we have self discipline. Anything is possible to achieve if one's determination is to become a good and successful trader.
- Risks Preparations
- Emotional control
- Trading money that you can afford to lose
And other things will follow like learning some technica analysis, setting stop loss, adding indicators, formulating strategy and risk management, etc. We can also be a better trader from being a noob if we have self discipline. Anything is possible to achieve if one's determination is to become a good and successful trader.
Good for you because when I was new, I don't know about that, and I only use little money to trade, and not trying to chase too big profit because I know my capacity that I don't have much knowledge of using the analysis method. I realize that learning in trading is a must, and we need to dig more and more about trading so that we can make a profit from trading. With learning much more about trading, it can give us a chance to analyze the coin, so we can know how to trade with the right, we know how to manage the risk, etc. I am sure that we can be one of the successful traders in the future.
So must Create your own strategy that will give you at least 70% profit all the time.Find the correct entry point.
Wow! 70%. Do you know someone earning this big consistently or all the time?
Average traders would be considered earning 10%-20% of their profit, and take note they're an experienced traders. So, how would expect someone who's just starting to engage into the world of trading and find a strategy that could generate a 70% profit ALL THE TIME
Seriously, that's not possible.
Everything you wrote in the OP as a basic trading advice will all goes down to experience and patience.
I don' understand about that 70% profits margin? We should have that much as goal to reach?
I would say better have realistic profits if you want to achieve it, lets say 5% in a month which is highly possible and 60% in a year way more than traditional investment.
I would say better have realistic profits if you want to achieve it, lets say 5% in a month which is highly possible and 60% in a year way more than traditional investment.
Good reminder and strategy by op.
But as I trade, as long as I'll get profit, 10%, 20%, or more that will be fine for me depending on the risk that I'm taking and as long as the fees are already deducted and I have my capital back.
But as I trade, as long as I'll get profit, 10%, 20%, or more that will be fine for me depending on the risk that I'm taking and as long as the fees are already deducted and I have my capital back.
When I was a starter, I do remember these basic things;
And other things will follow like learning some technical analysis, setting stop loss, adding indicators, formulating strategy and risk management, etc. We can also be a better trader from being a noob if we have self discipline. Anything is possible to achieve if one's determination is to become a good and successful trader.
- Risks Preparations
- Emotional control
- Trading money that you can afford to lose
And other things will follow like learning some technical analysis, setting stop loss, adding indicators, formulating strategy and risk management, etc. We can also be a better trader from being a noob if we have self discipline. Anything is possible to achieve if one's determination is to become a good and successful trader.
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Although been patience is a good attribute one could say a trader should developed but it shouldn't always be about been patience, In fact in my opinions that shouldn't be the major priority of any trades. Patience is for Investors while smartness is for traders. If you're slow the market would take advantage of you all the time.
But the movement you're capable of turning the market volatility into your profit irrespective of the price directions through the usefulness of your smartness couple with other skills and information made available to you, then you can be said to be a trader.
But the movement you're capable of turning the market volatility into your profit irrespective of the price directions through the usefulness of your smartness couple with other skills and information made available to you, then you can be said to be a trader.
Thanks for your good conversation here. Actually you are right here that good profit never come in a day. There need patience, time spend and above all right target. Traders who made it successfully will be gainer today or tomorrow. Obviously heavy investors take risk with huge amount in a patience way with huge research so that they know their target will be successful one day and until that time have to wait. In this way i also became successful last few months and i suggest everybody to follow this.
thanks.
thanks.
Older traders know better
Patience and Mind Setup play an important role in the trading market
So before taking any trade, you have to calculate three things clearly
Neither I nor you can survive long in the trading market if none of these accounts match.
Trading is not an Aladdin's lamp that will make someone a millionaire one day.Because there are many traders in this market who make thousands of dollars profit.
We just saw his profit but think about it How profit comes?
Profit comes in the combination of risk and reward.High risk equal to high reward.
And within an hour of taking the trade, he did not make a profit of a thousand dollars
He had to wait
Maybe a day or two or 1 week.
If your setup is ticked, you can hold on to a trade for one month and at the end of the month your profit will be 100% sure
And if you don't setup, sl will hit and you will go into depression and you will be afraid to take it in the next trade.
It's really doesn’t matter if you know more analysis or less this three things will mostly define success of your trading.
Entry Exit & Stop loss
If these you not calculate in a clear way Then your trading history will be random.After a few days of trading, you will find it boring.And the best techniques of trading will not come to your mind.
You can and can't do anything in the market without your own strategy.
So must Create your own strategy that will give you at least 70% profit all the time.Find the correct entry point.
Understand with your own mind how much loss you can tolerate.
If you move slowly trust me your roots will be strong.
Thanks everyone🥰
Patience and Mind Setup play an important role in the trading market
So before taking any trade, you have to calculate three things clearly
Neither I nor you can survive long in the trading market if none of these accounts match.
Trading is not an Aladdin's lamp that will make someone a millionaire one day.Because there are many traders in this market who make thousands of dollars profit.
We just saw his profit but think about it How profit comes?
Profit comes in the combination of risk and reward.High risk equal to high reward.
And within an hour of taking the trade, he did not make a profit of a thousand dollars
He had to wait
Maybe a day or two or 1 week.
If your setup is ticked, you can hold on to a trade for one month and at the end of the month your profit will be 100% sure
And if you don't setup, sl will hit and you will go into depression and you will be afraid to take it in the next trade.
It's really doesn’t matter if you know more analysis or less this three things will mostly define success of your trading.
Entry Exit & Stop loss
If these you not calculate in a clear way Then your trading history will be random.After a few days of trading, you will find it boring.And the best techniques of trading will not come to your mind.
You can and can't do anything in the market without your own strategy.
So must Create your own strategy that will give you at least 70% profit all the time.Find the correct entry point.
Understand with your own mind how much loss you can tolerate.
If you move slowly trust me your roots will be strong.
Thanks everyone🥰
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