Topic: Few Steps To Avoid Losses In Trading. - page 9. (Read 1805 times)

This is situational because not all would really be that shitty on which there are projects which you could really tend to invest even if its just new which means that risk taking factor would really be in effect.

Not all the times we could really make out some generalization in terms of project potential.This is situational and decisions would really vary out on how you would really be taking out such risk.

Loses are inevitable but it could really be lessen out depending on the experience and knowledge you do have.

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.

Many are pump and dump coins, you are right and the reason they don't rise again when expected with the increase of bitcoin is they have already pumped once and may not go up again because the whale have dropped alot of it and it is looking dead or near dead, no matter how long you have these type of shitcoins they won't grow. They are always trap when they get into your wallet and the expectation for increase in value get to be exhausted. How to know such shitcoins is when there are no orders around them, you can away from them but if you are lucky to buy when whales are still preparing the hype you can sell higher for guarantee profit.

Without a doubt this is good advice, I will also say that having a defined level in which you will not tolerate more losses and cut them, also known as a stop loss, is very important if you plan to make money for the long term on this market, and the reason for this is simple, many traders do not like to admit they did anything wrong and when they are facing some losses instead of closing their trade they keep it open expecting for a reversal, and when it happens and they avoid losing a small amount of money they are happy about it, but eventually they will find out that the market does not always makes a reversal and instead the price plummets, and that is when they lose a massive amount of money.

I think it's not good to stay away from trend. We know that shot coins is high risky tokens but if you find any best projects with huge community then it can be game changing investment also. My friend invested only 10$ on Shib and then withdraw 5000$ when list on binance. I myself made 5000$ above from Shitcoins but one thing should not be forgotten that use only 2-5% portfolio for Shit coins.

this is a great summary for trading. Traders also should not be greedy, if you start trading, you must have a profit target and be consistent until the market is at the desired point. Don't let yourself be lulled by the market that continues to rise, if there is a correction then we will regret not taking profit when the opportunity arises. and financial management is very important, we must be able to distinguish between daily needs and capital to start trading.

When you make a generic post like this, you can consider to use the phrases such as "majority of, almost all, most of, few of..." You cannot just say 65% when you didn't show any data to support your claim.

No successful trader has just one strategy. The market can outsmart your strategy at anytime. As a dynamic trader you switch to an alternative strategy. Besides, there is no ideal strategy, all strategies depends on one another.

That would really be a pain in the ass. But these shitcoins makes really awesome movements which is what actually attracts traders to them. It's a dilemma.

I tend to agree with all you've mentioned above but the number 3 that I quoted above seems unrealistic to me.  Mastering your trading strategy won't work because there's no permanent trading strategy that you can rely on.  Once you've failed twice or thrice, just leave that strategy and find another one, this will help you to avoid further losses.

In addition to your list, setting a stop-loss per trading activity will help you to avoid huge losses, this will minimize your loss.  We can't predict well what will happen to the market and where it will lead the price and remember that trading isn't about profit, it's a need to gain experience too.

That's the best wisdom so far although it prevents you from learning some other technique out of your comfort zone, its still best when it comes to making money.

Many have tried to make money in a hurry forcing themselves to try options trading and in the end, they lose more of what they have. If the spot market makes you money, maybe you need to maintain trading in spot market until  you get comfortable how to predict the trend in the shorter time frame for options trading which is very hard to learn. I have not learned it well myself.

I like your summary of trading tips, it's very useful for any new trader. Especially the link between taking risks and making a profit is very important. Without risks there are no returns. Any investment that offers returns higher than the savings account at our bank will involve risks. Basically taking risks is what brings us returns. That is also what makes the difference between a good and a bad trader, to know what kind of risks go take and when it's the best opportunity to sell again. Another thing is that a loss is not always the same, there is difference between realised and unrealised losses. If there is a general market drop, sending all prices down then it could be better to just sit out the short term correction and avoid paying too many transaction cost.

Isn't the first step to trading acknowledging that there'd be instances where you lose your money, albeit temporarily? At least that's how I set my mindset whenever I start a trade, it's just a matter of whether I accept that loss (which is unlikely) or that loss is simply a part of a movement of the market and that it would grow to be better. Might be because of the influence of me investing in the long term instead of day trading or short-term trading though, since I don't actively try to actually look at the movement of the market at every time possible.

Agree. I've tried testing them out and they just honestly aren't that good of an investment, especially in the long term. Most of them are just hyped up a f, you can get a good profit if you're able to time it right (and with a bit of luck).

90% of plebs who day trade/swing trade shitcoins LOSE money given enougn time. Plebs will sometimes make some profit, but later, plebs will lose them back to the market. I learned it myself, the HARD WAY. I lost months and months worth of savings before I stopped, and started buying the Bitcoin DIP, and HODL since 2019. It's good for your pocket, and your sanity.

I follow you on this to admit that it is good to master our trading pattern. Most times it is fear that stop us from making progress especially when we encounter little losses because of volatility hitting off our stoploss. We need better understanding with the coins we trade in , bitcoin is very volatile and such volatility should be understood with our trading strategy and stick to the indicators that works.

I have my basic tips for trading

• 1. Avoid being part of any social media platform that is giving only their speculations. Learn from your own. Just get knowledge to become dependent to them
• 2. Invest in your knowledge
• 3. Trade what you afford to lose.
• 4. Make a trading plan
• 5. Learn basic fundamentals.
• 6. STOP LOSS and TAKE PROFIT

We know how so hard to make a trade that this might affect our emotional, mental and physical state to making a decision in trading. Always make sure you are suitable to make a trade don't make a transaction if you think you doubt.

That is the main reason you trade (Profit). Any trader who does not make profit in trading should go back to the drawing board and get more trading knowledge, you can not regard yourself as a trader when you lose funds every day. Just like the op said, learn to earn.

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.

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.