Follow Strictly while trading - page 3.

bakujo0817

member

Activity: 313

Merit: 11

Quote from: shasan on May 19, 2018, 06:31:31 PM

There are a lots of things which we should follow while trading. I am mentioning few of them. Please see the points below:

1. Categorize your investments and look at the long picture.
2. Only invest what you can lose.
3. Don’t be greedy.
4. Never put all your eggs in one basket. Diversify.
5. Don’t invest blindly.
6. Don’t FOMO.
7. Always pay attention to Bitcoin.
8. If you are doing any active trading, set stop losses.
9. Always learn from your mistakes.

this is good advise but hard to follow specially for newbie on trading and for trader that using emotion on trade.

Pamadar

legendary

Activity: 2982

Merit: 1028

Good share OP, those things can help us inside our trading activity, knowing what is supposed to do while investing our money will give us some edge not lose that much or avoid certain bankrupt, the moment that we set up plans and strategy will teach us to be more accurate and make good decision making, emotionless trades really hard to do but if done perfectly, then bigger gains is very possible to achieved.

hugeblack

legendary

Activity: 2702

Merit: 4002

These are general rules, but following them does not mean you will get a guaranteed profit.
The last rule is the basis on which you should build your investment, while the rest of the rules are subject to change.
The most important thing is that you have a specific plan and an expected profit because the price will not be All-Time-High.
It is your faith in a matter that determines how much you earn from it.

Moiyah

member

Activity: 630

Merit: 20

Quote

3. Don't ne greedy.

Easier said than done but I may strongly agree with this number 3 rule. Such greed turn into mistakes and I often experienced that wrongdoings and wrong decisions because of that what you called greed.

Quote

4. Never put all your eggs in one basket. Diversify.

Playing safe in trading is very significant. That is why we have to diversify our investments, but not just one but to divide your capital in different coins for the prevention of a serious lose.

Quote

9. Always learn from your mistakes.

Definitely. There are times that we are repeating our mistakes, blaming ourselves all over again. Otherwise, we can always learn from that mistake and step forward, learn more and gain success in the future because we've finally learned from what we have done before.

wxa7115

hero member

Activity: 2814

Merit: 734

Bitcoin is GOD

Quote from: entebah on May 19, 2018, 06:45:12 PM

Quote from: shasan on May 19, 2018, 06:31:31 PM

There are a lots of things which we should follow while trading. I am mentioning few of them. Please see the points below:

1. Categorize your investments and look at the long picture.
2. Only invest what you can lose.
3. Don’t be greedy.
4. Never put all your eggs in one basket. Diversify.
5. Don’t invest blindly.
6. Don’t FOMO.
7. Always pay attention to Bitcoin.
8. If you are doing any active trading, set stop losses.
9. Always learn from your mistakes.

I often read these tips, but it's still hard to learn.
every point always involves emotion and this is the hardest thing to do.
Experience becomes the most decisive thing in the trade.

The issue is that even if many people agree with all the points exposed above is that it is really difficult to apply all of those concepts in the high pressure environment of trading, when you are trading you need to take decisions in a matter of seconds so all of those points should be part of your decision making process in an almost unconscious way because you're not going to have the time to go through all of those points every time that you need to make a trade.

shasan

copper member

Activity: 2422

Merit: 1313

Playbet.io - Crypto Casino and Sportsbook

Quote from: TravelMug on May 19, 2018, 07:21:12 PM

Yeah, emotions is also one of the biggest factor to be successful in trading. That's why you will hear experience traders saying that you should throw your emotions out of the window then you enter the world of crypto trading.

Just few comments though, for diversification, it doesn't mean that you go and invest on other coins, for me it really means that you invest outside of it, like real state properties or stocks or mutual funds. As for FOMO, yes you can do it but as long as you know when to exit. Another thing, lay down your entry and exit strategy as well so that you can mitigate your risk.

Yes, if we trade with emotions we must fall. That's why we have to trade with brain/sense, not emotions.

TravelMug

hero member

Activity: 2632

Merit: 833

Quote from: entebah on May 19, 2018, 06:45:12 PM

Quote from: shasan on May 19, 2018, 06:31:31 PM

There are a lots of things which we should follow while trading. I am mentioning few of them. Please see the points below:

1. Categorize your investments and look at the long picture.
2. Only invest what you can lose.
3. Don’t be greedy.
4. Never put all your eggs in one basket. Diversify.
5. Don’t invest blindly.
6. Don’t FOMO.
7. Always pay attention to Bitcoin.
8. If you are doing any active trading, set stop losses.
9. Always learn from your mistakes.

I often read these tips, but it's still hard to learn.
every point always involves emotion and this is the hardest thing to do.
Experience becomes the most decisive thing in the trade.

Yeah, emotions is also one of the biggest factor to be successful in trading. That's why you will hear experience traders saying that you should throw your emotions out of the window then you enter the world of crypto trading.

Just few comments though, for diversification, it doesn't mean that you go and invest on other coins, for me it really means that you invest outside of it, like real state properties or stocks or mutual funds. As for FOMO, yes you can do it but as long as you know when to exit. Another thing, lay down your entry and exit strategy as well so that you can mitigate your risk.

shasan

copper member

Activity: 2422

Merit: 1313

Playbet.io - Crypto Casino and Sportsbook

Quote from: entebah on May 19, 2018, 06:45:12 PM

Quote from: shasan on May 19, 2018, 06:31:31 PM

There are a lots of things which we should follow while trading. I am mentioning few of them. Please see the points below:

1. Categorize your investments and look at the long picture.
2. Only invest what you can lose.
3. Don’t be greedy.
4. Never put all your eggs in one basket. Diversify.
5. Don’t invest blindly.
6. Don’t FOMO.
7. Always pay attention to Bitcoin.
8. If you are doing any active trading, set stop losses.
9. Always learn from your mistakes.

I often read these tips, but it's still hard to learn.
every point always involves emotion and this is the hardest thing to do.
Experience becomes the most decisive thing in the trade.

Old is gold. That means experience play a vital role to be success on trading.

entebah

full member

Activity: 1489

Merit: 150

Quote from: shasan on May 19, 2018, 06:31:31 PM

There are a lots of things which we should follow while trading. I am mentioning few of them. Please see the points below:

1. Categorize your investments and look at the long picture.
2. Only invest what you can lose.
3. Don’t be greedy.
4. Never put all your eggs in one basket. Diversify.
5. Don’t invest blindly.
6. Don’t FOMO.
7. Always pay attention to Bitcoin.
8. If you are doing any active trading, set stop losses.
9. Always learn from your mistakes.

I often read these tips, but it's still hard to learn.
every point always involves emotion and this is the hardest thing to do.
Experience becomes the most decisive thing in the trade.

shasan

copper member

Activity: 2422

Merit: 1313

Playbet.io - Crypto Casino and Sportsbook

There are a lots of things which we should follow while trading. I am mentioning few of them. Please see the points below:

1. Categorize your investments and look at the long picture.
2. Only invest what you can lose.
3. Don’t be greedy.
4. Never put all your eggs in one basket. Diversify.
5. Don’t invest blindly.
6. Don’t FOMO.
7. Always pay attention to Bitcoin.
8. If you are doing any active trading, set stop losses.
9. Always learn from your mistakes.

Topic: Follow Strictly while trading - page 3. (Read 483 times)