Well you need to realize that many crypto assets move more or less at the same time. You buy ETH and BTC against USD and there is a chance that both will go up or down by a similar percentage.
Same with buying alt coins. Very rarely do some go up while some go down. Most go the same way. Especially if it’s against a stablecoin.
Hence why the OP is right, you shouldn’t enter a whole bump of one direction trades like that because they will either all work or won’t.
Topic: Don't encourage multiple trading! - page 5. (Read 502 times)
My friend loves opening different trades at a time, most at times is difficult for him to control what's should be.
If you are a bad trader, you should not trade even just trading with one trade at a time.If you are a professional trader, you actually do your own research and analyses before you carefully open your trading positions. It's not big matter to have multiple trades at a time.
A professional trader always have plans to exit and avoid big losses.
- Stop loss order: One of best weapons in trading
- Stop limit order is better than stop loss order when a market has big slip, cascade effect.
- Awesome crypto trading
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Trading on free chart with multiple opening can be very dangerous.
What is free chart?Chart is free for everyone.
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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
If a small fall of Bitcoin hours ago caused your friend some losses or big losses, he should stop trading and switch to invesment, hold. 
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
maybe your friends need to be more careful with every crypto he buys. He needs to do good research and good reason to buy it.
don't just buy any crypto that he feels that will make him get profit.
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
If he's into futures trading, then I guess that's okay. As a long-term trader, people experience losses, but they should keep holding until the green days come. These days are sure to come when the price of Bitcoin increases, and of course, the market will follow Bitcoin and turn green. Most crypto follow Bitcoin's price pump. So, in my opinion, it's normal to experience losses, as this can be a valuable learning experience and an opportunity to manage one's assets effectively. 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
Maybe he's into futures. Because he wouldn't lose that immediately if he's on the spot but as you've said that when the price dropped again, he's at total loss. Well, if your friend is a long time trader, he probably know what he's doing.
That's why for him it should be enough to understand that the risk he's taking shouldn't be ignored. Otherwise, he should quit futures and stay on the spot trading.
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
What if your friend only trade one coin and the coin against the direction taken and the loss is significant? Trading multiple coins is not the problem, the problem is to know the direction the coins are going because if one coin is falling, other coins are most likely falling too. I also thought trading just a single currency is the best before, until I traded multiple coins that go towards my direction.Tell your friend to learn risk management and also use a better strategy to minimize losses. It is good not to use leverage while trading, especially while trading altcoins.
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
Nope, I don't think multiple trades reduce the trading risk, Bitcoin price drop is another thing to discuss because crypto market capital is always dominated by Bitcoin with almost half of it if Bitcoin feels any type of sudden changes the whole market faces the consequences but in the natural trading days single Trade in one asset can be dangerous I would say take multiple trades in a single asset or multiple assets it will diversify your profit and market risk. I am going totally against OP's recommendation because I can't feel anything worthy in OP's opinion, he is recommending single trade whether its newbie or an experienced market player, on the other half I always recommend diversifying risk management is more important and this is how you learn and gain better experience in the market.
For your friend, I would recommend that he should learn management skills If he really wants to be a successful trader.
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.
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.
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
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