I don't even encourage people to open multiple trades in the market if they are not having a big Capita to hold trades in case the market goes the other ways. It is only pro traders that can enter the market with multiple trades because they might have read the market and knows what the market is doing at anytime. Newbies entering the market with multiple trades can lead to disaster that could cause great loses of case is not taken properly.
We should not in any copy other traders to enter the market if we are not so sure the decision we are about to take and where it is going to lead us. Consciousness is of a big importance.
Topic: Don't encourage multiple trading! - page 3. (Read 559 times)
My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade
Do you mean futures? If yes, I don't recommend futures as well it will make your investment gone in a seconds. Futures needed to be set according to your thing I mean it is better to set it in isolated with small multiplier only but then you can advice him to stop for awhile and make some research about how to futures and trades so he will not lose too much because it will be a regret of him soon. This show us that despite our level of skill, risk management is critical, and someone which disregards it will not last long on a market which is as volatile as this one.
For me, it's not ideal to make a trade over three positions because there's a possibility you can't manage to watch those price movements unless you execute all trades according to the plan like having a take profit and stop loss already to make sure you can manage to have multiple trades. Just wondering if this is futures trading or just long-term trading if the long term you can hold as much as you want and you are heading for over a month and year, in the future that's quite hard to handle to have more than three trades open. Always manage your risk.
It seems like your friend didn't know what he/she was doing, perhaps it's a beginner's fault I guess. If he knows what he/she was doing then your friend most likely wanted to gamble instead of minimizing the risk to lose. Trading can be done in a manner that you only knew that would work but that time perhaps he/she didn't expect the drop would happen. It will be a valuable lesson to your friend if he/she has lost more than what he/she should.
My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade
Do you mean futures? If yes, I don't recommend futures as well it will make your investment gone in a seconds. Futures needed to be set according to your thing I mean it is better to set it in isolated with small multiplier only but then you can advice him to stop for awhile and make some research about how to futures and trades so he will not lose too much because it will be a regret of him soon. 
My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade
Well opening multiple trades at a time is truly highly risky for a less experience traders, however there are some traders whose trading strategy work perfectly well with few A++ signals per week thus this will warrant opening multiple profitable positions at a time and well managed their position with money management should in case the market goes against them, this can only be accomplished or achieved if such a trader is highly skilled and experienced with a huge funded account while each of the position is open with a very small lots or leverages in multiple times personally this is what I had been learning presently to have an edge over the market.such strategy is not advisable to new traders. they can easily go bankrupt instead of earning profits. some are going in such path hoping that they will gain profits as fast as they can. some will get their luck applying such technique, but this route is not for all. especially those who have small bankroll and is only relying from their profits to continue their trading.
Personally I don't advise multiple trade especially when you're not familiar with trade
If someone is not familiar with trading, you should not suggest anything to them regarding trade. Multiple or single, that doesn't matter. Anyone with basic knowledge should start with a very small amount just to learn the concept of trading in a better way and sharpen his skills. Everything depends on your skill of analyzing the chart. If you can master the concept of the chart, you can become a good trader. Maybe the best (depends on your understanding). And profit and loss are part of the process. If you don't have any experience on both, you can never get the full picture of trading. Opening multiple trades on multiple crypto pair is kind of risky, not gonna lie. But as I said, if you know the market well, you can make good profits. And never forget to set up Stop Loss and Take Profit (SL & TP). That way, you will never face that huge amount of losses. It's all about techniques and strategy.
How are you going to lose that much knowing that you could wait before anything else happens? Like holding the position so you wouldn't get the losses you are getting when you close the position unless it's always going to the stop loss limit. That's going to be a problem when you are always experiencing that. You should be able to assess what you are going to do and make sure that you don't bleed too much money.
My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade
Well opening multiple trades at a time is truly highly risky for a less experience traders, however there are some traders whose trading strategy work perfectly well with few A++ signals per week thus this will warrant opening multiple profitable positions at a time and well managed their position with money management should in case the market goes against them, this can only be accomplished or achieved if such a trader is highly skilled and experienced with a huge funded account while each of the position is open with a very small lots or leverages in multiple times personally this is what I had been learning presently to have an edge over the market. hero member
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Leading Crypto Sports Betting & Casino Platform
Your friend should not open more than one trade because he needs to get used to trading on just one before trying it with more than one trade. In addition, he needs to learn more about market analysis to adapt to each coin's situation and find the right coin to trade. Opening different trades at the same time is not easy and requires more skills to be able to analyze coins. Maybe you can suggest that and let him decide to keep trying to open more than one trade or follow your advice.
Triggering analysis on multiple trades will only bring confusion and losses. The market fluctuating steadily and there's no definite time that it will make retracement back to it's usual spot. Trading should be understandable before crucial research is carried out. I don't open multiple trades because I've gotten some experience on it, trading it will gives more room for losses and I'm not ready to make such mistakes in the market. We do learn everyday, either from our colleagues mistakes or our personal mistakes, no one is perfect in trading, even top traders record losses because the market don't always go as planned.
Multiple trading isn't actually a bad thing if you know what you are doing. Like, it depends on the person and their trading strategy. Some people actually make good money with multiple trades, as long as they manage it right. The key here is risk management and diversification. Just because friend did it wrong, doesn't mean everyone will do it wrong. You friend did some mistakes. If your friend could have set stop-loss orders and diversified his investments, he wouldn't had put all his money in one place. So, if one trade goes south, others might still be profitable. Your friend shouldn't go overboard and risk only what he can afford to lose. Your friend might be struggling, so he should cut down a bit.
My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade
Multiple trading may be represented like martingale and nothing wrong with that if you are experienced with such to be able to control it and monitor appropriately or use your stop loss intact. Multiple trading is for you to use your money management skills appropriately, lower your leverage, use stop loss and you must have sufficient fund to carry the waves of the market.
We as plebs who are generally under-capitalized should never over-complicate things regarding how we invest in Bitcoin. Plebs should not treat it like we have seven figures in capital, just keep it simple and buy the DIP and HODL. I could ask myself if I have more profit in buying the DIP and HODLing compared to "trading", and the answer would always be a YES. I believe 90% of plebs would have the same answer.
Buying the dip to hodl is cool but that is not regarded as trading, that is hodling and it should be the first level of bitcoin investment for the people wanting to know how to increase capital in bitcoin by hodling. Trading is not so easy to do, the risk is higher.. You can lose all your capital in trading but with hodling you can only have a reduced value but unit of coin still remains. Multiple trading is another level of course.
legendary
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Leading Crypto Sports Betting & Casino Platform
does your friend trade futures? for those familiar with day trading it is very easy to open multiple trades. of course, the risk is greater because the market may move not according to our plans and analysis.
I also sometimes open 2 or 3 futures trades. that's fine with that, sometimes it's all profit. but sometimes we also have to lose. because in trading that's how it works. we cannot force them to continue to benefit.
Opening 2 or 3 futures trades at a time is very fine, but anything more than 5 at a time is very risky and not advisable, but I know some people who open up to 7,8 or even 10 trades at a time, which is really childish if you ask me.I also sometimes open 2 or 3 futures trades. that's fine with that, sometimes it's all profit. but sometimes we also have to lose. because in trading that's how it works. we cannot force them to continue to benefit.
There was a time when I used to open up to 6 trade at the same time, but that was when I was still a newbie in crypto trading, right now, I do not open more than 1 or 2 trade at a time, most especially. When I am trading futures, but I can open as many trades as I want if I am trading the spot market, since I can simply hold if the market goes against me.
My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade
This could be more risky as he trade in futures, though you can do this better by analyzing the market and I can say that never go against the trend, since the price is still bullish trading short will be more risky as you go against the current momentum of Bitcoin. If your friend still lose the money in trading, better for him to learn more and analyze what is wrong with his strategy, being too greedy is not good in trading though you can have multiple positions with different cryptos. 
Your friend should not open more than one trade because he needs to get used to trading on just one before trying it with more than one trade. In addition, he needs to learn more about market analysis to adapt to each coin's situation and find the right coin to trade. Opening different trades at the same time is not easy and requires more skills to be able to analyze coins. Maybe you can suggest that and let him decide to keep trying to open more than one trade or follow your advice.
Triggering analysis on multiple trades will only bring confusion and losses. The market fluctuating steadily and there's no definite time that it will make retracement back to it's usual spot. Trading should be understandable before crucial research is carried out. I don't open multiple trades because I've gotten some experience on it, trading it will gives more room for losses and I'm not ready to make such mistakes in the market. We do learn everyday, either from our colleagues mistakes or our personal mistakes, no one is perfect in trading, even top traders record losses because the market don't always go as planned. 
I think this is something veterans can do but newbies can't really do. I know people who have over a dozen open trades at the same time and they can follow them all. And I have to say that no real trader would need anything like 12 screens on their home to follow it up, this dude just uses his phone when he is out, and puts out orders before he even makes anything, and then when he has to do something just opens up his phone and does it and moves on with his life.
And this is a very rich person who has been making steady profit in bitcoin world for over 6 years now, so we are not talking about a newbie who got lucky, dude made profit in every part of crypto period and that is why I trust him more than anyone else.
And this is a very rich person who has been making steady profit in bitcoin world for over 6 years now, so we are not talking about a newbie who got lucky, dude made profit in every part of crypto period and that is why I trust him more than anyone else.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
Your friend should not open more than one trade because he needs to get used to trading on just one before trying it with more than one trade. In addition, he needs to learn more about market analysis to adapt to each coin's situation and find the right coin to trade. Opening different trades at the same time is not easy and requires more skills to be able to analyze coins. Maybe you can suggest that and let him decide to keep trying to open more than one trade or follow your advice.
My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade
There is nothing wrong with the multiple positions and if a trader is professional then he knows what to expect from such multiple positions. Fun fact, you can actually make decent amount of money over such trades and also overcome the losses better way. Imagine in your friends case, if they would closed the positions at perfect time he could have saved his money. I am not able to guess it right but it does not seem that they are highly professional in the trading.
There are always pros and cons of the multiple positions. Imagine reverse situation here, and bitcoin pumped higher than his position then he could have 4x his profits in no time. That kind of risk you have to take all the time in the crypto world.
Perhaps, trying out new strategies is always good as long as you know what you are doing there.
Personally I don't advise multiple trade especially when you're not familiar with trade
You are correct; it is not advisable to execute several trades if you are unfamiliar with them. But I want to emphasize that risk management is the best solution to this problem. It is not the fault of several trading pairs; it is simply required that your positions have a "stop loss" so that you may leave them alone, especially if you are using Cross-margin mode.Sounds like your friend doing future trades with high leverage which can make his four trades gone in a moment, it's not advised to be greedy since greediness can make our money disappear in an instant, if he wants to try more risks try with a little amount of money or using money that you can afford to lose so when you're losing it, it won't be pressure in your mind.
That's the way I see things. He had to have used futures trading to lose so quickly. It's also possible that he didn't establish a stop loss because he was in a rush. I just disagree that numerous trading pairs are not recommended in trading because many individuals use them and I see that it is possible to earn a lot. Simply execute everything correctly and then stick to the strategy no matter what happens, stop loss is just small, there's huge potential reward if the market goes with you.
My friend loves opening different trades at a time, most at times is difficult for him to control what's should be...
If, in the end, such a trading strategy brings profit, then he does not need to change anything. Losing trades will haunt you from the time you first started learning trading until you became an experienced trader. The main thing is that there should be more profitable trades than unprofitable ones.
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