I think using Future trading is not without risk so it's better to avoid Future trading..maybe sometime you make big profit but one blow like Luna can make you Zero.
Spot trading is better choice and if any body have knowledge of charts then day trading is useful and profitable. It's better to use Binance,Coinbase,Ftx,Kucoin and Gate exchange for real time price and high volume of trading.
Don't invest all in one coin , Diversify your investment on top coins.
Topic: Few Steps To Avoid Losses In Trading. - page 5. (Read 1539 times)
I will also share my version of the trading strategy in this topic too
- Timeframe - 5 minutes
- Look for a big accumulation of highs or lows and use them to draw the level
- When this level breaks through, go in the direction of the trend, put a stop-loss outside the high or low
- Keep the risk/reward ratio of 1 to 3
- Use no more than 4x leverage (Cexes – Binance, Kraken; Dexes – Wowswap or Ddex)
- Profit!
I'd preferred to just use 2 exchanges as it was very manageable. But, this needs to focus and spend more time on the computer. - Timeframe - 5 minutes
- Look for a big accumulation of highs or lows and use them to draw the level
- When this level breaks through, go in the direction of the trend, put a stop-loss outside the high or low
- Keep the risk/reward ratio of 1 to 3
- Use no more than 4x leverage (Cexes – Binance, Kraken; Dexes – Wowswap or Ddex)
- Profit!
And in regards to time frame, a shorter time frame is the best, well 5 minutes is enough. But I never recommend this strategy to newbies, that certainly be risky for them as beginners as the use of leverage trading are just for experienced traders and day-traders.
Yes, it was good to use stop-loss for fund protection and avoid big losses. This needs to master as well and must apply in all trading forms.
Yep! stop-loss is best for trading , whether you are a beginner or what you can use stop-loss. For me I am not using 5mins tf, but instead I am using 30mins or 4h for charting tho I am not a pro or an expert in this matter but that is what I am doing. Aside from charting I always make sure that there will be no new news that I missed regarding to the token I'm invested with.
I will also share my version of the trading strategy in this topic too
- Timeframe - 5 minutes
- Look for a big accumulation of highs or lows and use them to draw the level
- When this level breaks through, go in the direction of the trend, put a stop-loss outside the high or low
- Keep the risk/reward ratio of 1 to 3
- Use no more than 4x leverage (Cexes – Binance, Kraken; Dexes – Wowswap or Ddex)
- Profit!
I'd preferred to just use 2 exchanges as it was very manageable. But, this needs to focus and spend more time on the computer. - Timeframe - 5 minutes
- Look for a big accumulation of highs or lows and use them to draw the level
- When this level breaks through, go in the direction of the trend, put a stop-loss outside the high or low
- Keep the risk/reward ratio of 1 to 3
- Use no more than 4x leverage (Cexes – Binance, Kraken; Dexes – Wowswap or Ddex)
- Profit!
And in regards to time frame, a shorter time frame is the best, well 5 minutes is enough. But I never recommend this strategy to newbies, that certainly be risky for them as beginners as the use of leverage trading are just for experienced traders and day-traders.
Yes, it was good to use stop-loss for fund protection and avoid big losses. This needs to master as well and must apply in all trading forms.
Over the years I have come in contact with so many traders and 65% of them have always complained about not making a profit in their trading when asked the reasons behind their losses they have always responded by saying this,( bad luck). You can not make profit in trading without observing the trading rules.
Here Are A Few Steps To Avoid Losses In Trading:
1) Have good knowledge about Trading: In order to avoid losses in trading, I advise every trader and those intending to venture into trading to get knowledge of trading first before trading. Go for online classes(Youtube) for a pre-trading experience, register for mentorship classes, and onsite classes for a fast and better understanding.
Note: Learn To Earn.
2) Trade With Well Known Trading Platforms Only: To avoid losses as a trader, ensure you trade with the recognized trading platforms, e.g, Bitfinex, Binance, Huobi, Coinbase, Bittrex, kucoin, be careful and don't trade with an unfamiliar trading platform.
Note: Walk with the wise you become wiser.
3) Master Your Trading Strategy: Traders who make huge profits in trading have one secret which they do not share that is their trading stategy. They master one trading pattern and they work with it, when you master your strategy, you will trade with confidence you will jump around looking for signals or analysis before trading.
Note: Stick to what works for you.
4) Understanding The Power Of Risk Taking: As a trader, taking a risk in trading is good but knowing when to take the risk is better, so many traders lose money in trading because they believe that everything about trading is risk-taking no, you only take cross-examined and calculated risk only in trading this will help you to stop even when your profit margin is high.
Note: We trade to grow not grief.
Summary: Your profit must be greater than your losses if your a good trader so trade with wisdom.
I will also share my version of the trading strategy in this topic tooHere Are A Few Steps To Avoid Losses In Trading:
1) Have good knowledge about Trading: In order to avoid losses in trading, I advise every trader and those intending to venture into trading to get knowledge of trading first before trading. Go for online classes(Youtube) for a pre-trading experience, register for mentorship classes, and onsite classes for a fast and better understanding.
Note: Learn To Earn.
2) Trade With Well Known Trading Platforms Only: To avoid losses as a trader, ensure you trade with the recognized trading platforms, e.g, Bitfinex, Binance, Huobi, Coinbase, Bittrex, kucoin, be careful and don't trade with an unfamiliar trading platform.
Note: Walk with the wise you become wiser.
3) Master Your Trading Strategy: Traders who make huge profits in trading have one secret which they do not share that is their trading stategy. They master one trading pattern and they work with it, when you master your strategy, you will trade with confidence you will jump around looking for signals or analysis before trading.
Note: Stick to what works for you.
4) Understanding The Power Of Risk Taking: As a trader, taking a risk in trading is good but knowing when to take the risk is better, so many traders lose money in trading because they believe that everything about trading is risk-taking no, you only take cross-examined and calculated risk only in trading this will help you to stop even when your profit margin is high.
Note: We trade to grow not grief.
Summary: Your profit must be greater than your losses if your a good trader so trade with wisdom.
- Timeframe - 5 minutes
- Look for a big accumulation of highs or lows and use them to draw the level
- When this level breaks through, go in the direction of the trend, put a stop-loss outside the high or low
- Keep the risk/reward ratio of 1 to 3
- Use no more than 4x leverage (Cexes – Binance, Kraken; Dexes – Wowswap or Ddex)
- Profit!
If someone wants to be part of those altcoins that are risky currently and they're pumping and dumping. Make sure that you know what you're doing and you're not hoping that it will make you rich.
Make sure you already know when to buy, how much to buy, when to sell to take profit, and when to sell to take a loss in case you were wrong. It's not easy.
Yes, it's not that easy at all. Newbies and those that are interested in the trade think that it is easy when they see people making a huge profit as they trade. It's all well planned and executed but, many times are spontaneous with their trades.
It's probably human nature, and human emotions. We simply feel the need for excitement, or the need to gamble and dream of "making it" in one over-leveraged trade. The traders who are among the top 10% who make it, exploit that.
Quote
Because if you're greedy and you think that it's going to be your once in a life time fortune, you need to be a thinker as you do it because that's where many are doing it wrongly.
You can be greedy, and just HODL Bitcoin. Best DIP to bid for the bear market will be near the 200-Weekly SMA line, which is currently $21,857.00.
This is way better than trading if that's the crypto that I'll be holding. Well, I've got that already and won't do the same mistake as before of selling too early for bitcoin.
I believe it depends on what you want to get out of Bitcoin. Is it to make fiat by trying to outsmart the market, or do you believe it enough to be a technological breakthrough, that it deserves to be a part of your savings portfolio?
Shitcoins are the best coin to trade if you want to make like 100x of their capital. These coins pumps massively and dump heavily, although they are control by the market and the people behind the projects. Shitcoins coins easily cancelled zeros frontwards and backwards, they can make a trader rich over night and can also make the trader financially unstable overnight. Just take caution before investing in any of the shitcoins, no of them are safe or guarantee 100% that they would explore in the nearest future.
Bitcoin was $3800 in 2019, but its price increase to $69000 last year which was its all-time-high. Assuming someone bought bitcoin at $5000 in 2019 and sell at $50000 in 2021. Is that not 10x? Isn't that enoght?Some coins like Doge, Zilliqa, Shiba Inu increased significantly. Even if Shiba Inu was still new, Doge and Zilliqa and some others were not new but inceeased over 100x. How about Ravincoin, it increased 100x. Those were never and never now shit coins but altcoins.
I will not go deeper into this discussion because I do not know what you mean as shitcoin, some people call any other coin that is not bitcoin to be shit coin. But, shit coins are coins that have a very low marketcap in a way that bear market can make them become dead.
Let me add one more
Do not trade with shitcoins
If you trade with shitcoins, it can be the beginning of losses, if the trade does not favour you, you could have lost most of your trading funds until you realize what shitcoins are.
Some coins are also just like not rising during bull run but continue to be stagnant or fall, until the bear crypto begin and the shitcoin continue to fall more than others. That would indeed be a pain in the ass.
If you start with trading shitcoins, then you can't expect that you won't experience losses somehow. Although trading with shitcoins may also profit sometimes, but if you are thinking for long term profits, then always trade with bitcoin and potential altcoins. That way, you know their value will never dump so much, but when it happens, they will also recover once the market starts to become stable. But for shitcoins, they will always stay dumping most of the time.Do not trade with shitcoins
If you trade with shitcoins, it can be the beginning of losses, if the trade does not favour you, you could have lost most of your trading funds until you realize what shitcoins are.
Some coins are also just like not rising during bull run but continue to be stagnant or fall, until the bear crypto begin and the shitcoin continue to fall more than others. That would indeed be a pain in the ass.
If someone wants to be part of those altcoins that are risky currently and they're pumping and dumping. Make sure that you know what you're doing and you're not hoping that it will make you rich.
Make sure you already know when to buy, how much to buy, when to sell to take profit, and when to sell to take a loss in case you were wrong. It's not easy.
Quote
Because if you're greedy and you think that it's going to be your once in a life time fortune, you need to be a thinker as you do it because that's where many are doing it wrongly.
You can be greedy, and just HODL Bitcoin. Best DIP to bid for the bear market will be near the 200-Weekly SMA line, which is currently $21,857.00.
It is very clear that trading is risky, no matter what we do, no matter how careful we are and apply those things that OP had mentioned, this still won't give such assurance. Might to say we can minimize our losses but not in a thing that we can avoid it as certainly was a part of trading journey. Whether we like it or not, it actually exists in real life.
The thing that we can do is to always be prepared, learn from our mistakes, and take action to help prevent them.
You may not do the thing that you should do correctly each time, but that doesn't mean that you should not follow them neither. Yes, even if you follow these then you could still lose money, but do you really think that if you throw all of this out of the window, you would still be profiting? No, you would do worse.The thing that we can do is to always be prepared, learn from our mistakes, and take action to help prevent them.
This is why even though there is no situation where you could win too much, you should at least consider a possibility where you could be doing as fine as possible with whatever you have, and that way you would be basically just profiting from the situation when it is possible and making the best out of the situation is enough.
Another important steps should be that traders should not invest in new launched projects and they should only invest or hold on the top ranked coins. Holding a top rabk coins or trading it will make you more profits.
Trading any coin whether old or new, shit or real coin and top ranked you can encounter losses if you trade wrongly. So trading has no guarantee for any coin but talking of hodling, the risk is less compared to trading because they are different pattern. You can also stake your coins instead of hodling it. Staking has no risk if you keep it in a trusted exchange, you will get the coins back at due date plus the additional.
Risks exist everywhere. You need to be aware of that risk first and then invest in any coin. Staking is good, but if after staking a top coin and the price of that coin goes down for some reason, the investor will suffer from all sides. So risk management is very important. It is difficult to say that the coin that is in the top ten today will be able to be in that top position tomorrow. Because we have already seen the collapse of a top coin which has caused huge losses to investors.
Let me add one more
Do not trade with shitcoins
If you trade with shitcoins, it can be the beginning of losses, if the trade does not favour you, you could have lost most of your trading funds until you realize what shitcoins are.
Some coins are also just like not rising during bull run but continue to be stagnant or fall, until the bear crypto begin and the shitcoin continue to fall more than others. That would indeed be a pain in the ass.
If you start with trading shitcoins, then you can't expect that you won't experience losses somehow. Although trading with shitcoins may also profit sometimes, but if you are thinking for long term profits, then always trade with bitcoin and potential altcoins. That way, you know their value will never dump so much, but when it happens, they will also recover once the market starts to become stable. But for shitcoins, they will always stay dumping most of the time.Do not trade with shitcoins
If you trade with shitcoins, it can be the beginning of losses, if the trade does not favour you, you could have lost most of your trading funds until you realize what shitcoins are.
Some coins are also just like not rising during bull run but continue to be stagnant or fall, until the bear crypto begin and the shitcoin continue to fall more than others. That would indeed be a pain in the ass.
Another important steps should be that traders should not invest in new launched projects and they should only invest or hold on the top ranked coins. Holding a top rabk coins or trading it will make you more profits.
Trading any coin whether old or new, shit or real coin and top ranked you can encounter losses if you trade wrongly. So trading has no guarantee for any coin but talking of hodling, the risk is less compared to trading because they are different pattern. You can also stake your coins instead of hodling it. Staking has no risk if you keep it in a trusted exchange, you will get the coins back at due date plus the additional.
Before trading or investing we should know what coin we should buy either for long term or short term,
for shitcoin it's better when it's profitable to sell it immediately and don't think about holding it because it's most likely to make a loss,
and for the long term the top coin is the right choice and there is no doubt about it
for shitcoin it's better when it's profitable to sell it immediately and don't think about holding it because it's most likely to make a loss,
and for the long term the top coin is the right choice and there is no doubt about it
If someone wants to be part of those altcoins that are risky currently and they're pumping and dumping. Make sure that you know what you're doing and you're not hoping that it will make you rich.
Make sure you already know when to buy, how much to buy, when to sell to take profit, and when to sell to take a loss in case you were wrong. It's not easy.
Quote
Because if you're greedy and you think that it's going to be your once in a life time fortune, you need to be a thinker as you do it because that's where many are doing it wrongly.
You can be greedy, and just HODL Bitcoin. Best DIP to bid for the bear market will be near the 200-Weekly SMA line, which is currently $21,857.00.
Before trading or investing we should know what coin we should buy either for long term or short term,
for shitcoin it's better when it's profitable to sell it immediately and don't think about holding it because it's most likely to make a loss,
and for the long term the top coin is the right choice and there is no doubt about it
If someone wants to be part of those altcoins that are risky currently and they're pumping and dumping. Make sure that you know what you're doing and you're not hoping that it will make you rich.for shitcoin it's better when it's profitable to sell it immediately and don't think about holding it because it's most likely to make a loss,
and for the long term the top coin is the right choice and there is no doubt about it
Because if you're greedy and you think that it's going to be your once in a life time fortune, you need to be a thinker as you do it because that's where many are doing it wrongly.
There are other projects that have faced this same problem but came out of it and people have forgotten that they once accused them of being shitcoins. The major thing is for fallen tokens to rise after they fall and no one will call then shitcoin again.
The fact still remain, as long as a coin value, marketcap and price can drop like that of Luna that happened recently, it is definitely a shitcoin, but there is a chance it can become a good project again and there is a chance it can become a dead coin, which means a dead project if people do not support it anymore in a way the coin developers stop the project. 
In fact peeps are literally using shitcoins as the best way to earn money as they are easy to buy and sell if the volumes good and price is tiny! Such coins are easy to drop off.
It depends on what you regard as shitcoins.Shitcoins are coins that become tradable in the market, but later its liquidity reduce. It will get to a point order will not be filled in time, if market order is used, it will lead to loss. If theree is bull market, shitcoins may have very little growth or no growth or can even decline during the time. If there is bear market, shitcoin will fall most. A coin that have no value than to make someone that bought it to lose are called shitcoins. Shitcoins are also coins that are very prone to become a dead coin.
Do we say Luna is a shitcoin if we use your qualifications of what a shitcoin is? I guess alot of people will be quick to say that it is a shitcoin now that disaster has fallen on it. But a few months ago many people called it a nice and solid project. Most times we do not know if a project is a shitcoin from the beginning until something bad happens to it, until it is tested. There are other projects that have faced this same problem but came out of it and people have forgotten that they once accused them of being shitcoins. The major thing is for fallen tokens to rise after they fall and no one will call then shitcoin again.
Let me add one more
Do not trade with shitcoins
If you trade with shitcoins, it can be the beginning of losses, if the trade does not favour you, you could have lost most of your trading funds until you realize what shitcoins are.
Some coins are also just like not rising during bull run but continue to be stagnant or fall, until the bear crypto begin and the shitcoin continue to fall more than others. That would indeed be a pain in the ass.
If you start with trading shitcoins, then you can't expect that you won't experience losses somehow. Although trading with shitcoins may also profit sometimes, but if you are thinking for long term profits, then always trade with bitcoin and potential altcoins. That way, you know their value will never dump so much, but when it happens, they will also recover once the market starts to become stable. But for shitcoins, they will always stay dumping most of the time.Do not trade with shitcoins
If you trade with shitcoins, it can be the beginning of losses, if the trade does not favour you, you could have lost most of your trading funds until you realize what shitcoins are.
Some coins are also just like not rising during bull run but continue to be stagnant or fall, until the bear crypto begin and the shitcoin continue to fall more than others. That would indeed be a pain in the ass.
for shitcoin it's better when it's profitable to sell it immediately and don't think about holding it because it's most likely to make a loss,
and for the long term the top coin is the right choice and there is no doubt about it
Let me add one more
Do not trade with shitcoins
If you trade with shitcoins, it can be the beginning of losses, if the trade does not favour you, you could have lost most of your trading funds until you realize what shitcoins are.
Some coins are also just like not rising during bull run but continue to be stagnant or fall, until the bear crypto begin and the shitcoin continue to fall more than others. That would indeed be a pain in the ass.
If you start with trading shitcoins, then you can't expect that you won't experience losses somehow. Although trading with shitcoins may also profit sometimes, but if you are thinking for long term profits, then always trade with bitcoin and potential altcoins. That way, you know their value will never dump so much, but when it happens, they will also recover once the market starts to become stable. But for shitcoins, they will always stay dumping most of the time.Do not trade with shitcoins
If you trade with shitcoins, it can be the beginning of losses, if the trade does not favour you, you could have lost most of your trading funds until you realize what shitcoins are.
Some coins are also just like not rising during bull run but continue to be stagnant or fall, until the bear crypto begin and the shitcoin continue to fall more than others. That would indeed be a pain in the ass.
you are always in panic mode if you are trading with sh*tcoins because one wrong move, and you will end up losing all your funds. it is as if you have no peace with yourself when youre dealing with this type of coin. better go for much solid project where you have the assurance that they will not disappear overnight. but just look at UST & LUNA today, many investors lost their life's savings because of the current price in the market. we can't say they are shitcoin because they are like one solid project and yet, they are losing heavily in the market. so yeah, we can't really be sure nowadays but we can limit our losses with our choices.
You wont be losing your investment on a short span of time since decrease or crash do happen gradually which means you could still have that chance on getting out.
Losses is something that could not really be avoided when you do trade but what matter most is that you do able to make yourself to be profitable in the end of the
day despite of losses.
Let me add one more
Do not trade with shitcoins
If you trade with shitcoins, it can be the beginning of losses, if the trade does not favour you, you could have lost most of your trading funds until you realize what shitcoins are.
Some coins are also just like not rising during bull run but continue to be stagnant or fall, until the bear crypto begin and the shitcoin continue to fall more than others. That would indeed be a pain in the ass.
If you start with trading shitcoins, then you can't expect that you won't experience losses somehow. Although trading with shitcoins may also profit sometimes, but if you are thinking for long term profits, then always trade with bitcoin and potential altcoins. That way, you know their value will never dump so much, but when it happens, they will also recover once the market starts to become stable. But for shitcoins, they will always stay dumping most of the time.Do not trade with shitcoins
If you trade with shitcoins, it can be the beginning of losses, if the trade does not favour you, you could have lost most of your trading funds until you realize what shitcoins are.
Some coins are also just like not rising during bull run but continue to be stagnant or fall, until the bear crypto begin and the shitcoin continue to fall more than others. That would indeed be a pain in the ass.
you are always in panic mode if you are trading with sh*tcoins because one wrong move, and you will end up losing all your funds. it is as if you have no peace with yourself when youre dealing with this type of coin. better go for much solid project where you have the assurance that they will not disappear overnight. but just look at UST & LUNA today, many investors lost their life's savings because of the current price in the market. we can't say they are shitcoin because they are like one solid project and yet, they are losing heavily in the market. so yeah, we can't really be sure nowadays but we can limit our losses with our choices.
Let me add one more
Do not trade with shitcoins
If you trade with shitcoins, it can be the beginning of losses, if the trade does not favour you, you could have lost most of your trading funds until you realize what shitcoins are.
Some coins are also just like not rising during bull run but continue to be stagnant or fall, until the bear crypto begin and the shitcoin continue to fall more than others. That would indeed be a pain in the ass.
If you start with trading shitcoins, then you can't expect that you won't experience losses somehow. Although trading with shitcoins may also profit sometimes, but if you are thinking for long term profits, then always trade with bitcoin and potential altcoins. That way, you know their value will never dump so much, but when it happens, they will also recover once the market starts to become stable. But for shitcoins, they will always stay dumping most of the time. Do not trade with shitcoins
If you trade with shitcoins, it can be the beginning of losses, if the trade does not favour you, you could have lost most of your trading funds until you realize what shitcoins are.
Some coins are also just like not rising during bull run but continue to be stagnant or fall, until the bear crypto begin and the shitcoin continue to fall more than others. That would indeed be a pain in the ass.
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