The above suggestion is very helpful to the Newbie who doesn't have much knowledge about the trading. Most of the people will follow you because you have represented everything how trader will face everything in his trading journey. I faced the same situation at the beginning of my trading.
I also think that 4 keys to success above is really useful for all of us ,especially for the one who is a new in this market. I wan to say thank you to you a lot. I find the key 1 really great,every of us shouldn’t believe in anyone when you are in crypto market because as far as you know that this is completely anonymous, it maybe have many scammers,therefore you’d better do not think that it helps you natuarally. From trading for last some years,I feel like more interested in this job, especially this is the job which helps us a lot in reliazing mistakes and also we have chance to fix it.
Topic: Four Keys to Success - page 10. (Read 1180 times)
The above suggestion is very helpful to the Newbie who doesn't have much knowledge about the trading. Most of the people will follow you because you have represented everything how trader will face everything in his trading journey. I faced the same situation at the beginning of my trading.
I also think that 4 keys to success above is really useful for all of us ,especially for the one who is a new in this market. I wan to say thank you to you a lot. I find the key 1 really great,every of us shouldn’t believe in anyone when you are in crypto market because as far as you know that this is completely anonymous, it maybe have many scammers,therefore you’d better do not think that it helps you natuarally. From trading for last some years,I feel like more interested in this job, especially this is the job which helps us a lot in reliazing mistakes and also we have chance to fix it. 
thanks for your sharing and i totally agree with you. trading is the most difficult job in the world and you have to learn from mistakes to protect your money. and I wanna give my advice that you have to learn the way how to control your emotion. Do not too greedy or scared
I learned to be patient;) I learned that you need plan for both variants. Before you buy something you must understand where are you going to sell it if it falls or if it raises. If I see that it can fall in 50% and growth just in 5-10% I won't buy this.
Those are great. I add something that is's called WD Gann's trading rules, it's from another times, but it helped me when I was starting and of course, making a lot of mistakes.
Never risk more than 10% of your trading capital in a single trade.
Always use stop-loss orders.
Never overtrade.
Never let a profit run into a loss.
Don 't enter a trade if you are unsure of the trend. Never buck the trend.
When in doubt, get out, and don't get in when in doubt.
Only trade active markets.
Distribute your risk equally among different markets.
Never limit your orders. Trade at the market.
Don't close trades without a good reason.
Extra monies from successful trades should be placed in a separate account.
Never trade to scalp a profit.
Never average a loss.
Never get out of the market because you have lost patience or get in because you are anxious from waiting.
Avoid taking small profits and large losses.
Never cancel a stop loss after you have placed the trade.
Avoid getting in and out of the market too often.
Be willing to make money from both sides of the market.
Never buy or sell just because the price is low or high.
Pyramiding should be accomplished once it has crossed resistance levels and broken zones of distribution.
Pyramid issues that have a strong trend.
Never hedge a losing position.
Never change your position without a good reason.
Avoid trading after long periods of success or failure.
Don't try to guess tops or bottoms.
Don't follow a blind man's advice.
Reduce trading after the first loss; never increase.
Avoid getting in wrong and out wrong; or getting in right and out wrong. This is making a double mistake.
Never risk more than 10% of your trading capital in a single trade.
Always use stop-loss orders.
Never overtrade.
Never let a profit run into a loss.
Don 't enter a trade if you are unsure of the trend. Never buck the trend.
When in doubt, get out, and don't get in when in doubt.
Only trade active markets.
Distribute your risk equally among different markets.
Never limit your orders. Trade at the market.
Don't close trades without a good reason.
Extra monies from successful trades should be placed in a separate account.
Never trade to scalp a profit.
Never average a loss.
Never get out of the market because you have lost patience or get in because you are anxious from waiting.
Avoid taking small profits and large losses.
Never cancel a stop loss after you have placed the trade.
Avoid getting in and out of the market too often.
Be willing to make money from both sides of the market.
Never buy or sell just because the price is low or high.
Pyramiding should be accomplished once it has crossed resistance levels and broken zones of distribution.
Pyramid issues that have a strong trend.
Never hedge a losing position.
Never change your position without a good reason.
Avoid trading after long periods of success or failure.
Don't try to guess tops or bottoms.
Don't follow a blind man's advice.
Reduce trading after the first loss; never increase.
Avoid getting in wrong and out wrong; or getting in right and out wrong. This is making a double mistake.
thanks already share the trading experience, I think many people are also implementing the same thing you do but everyone has a few different strategies and probably will apply the concept that would give a profit. I think your concept is very good.
Thank you for sharing your own strategy. it helps a lot of people which is new to trading or investing. However, i believe that every person has its own comfortable strategy to play with. Some traders are happy to make short trades even if the market is pulling down. Its a matter of your behavior on how you manage your profit and loss.
Thank you for your share of the trading advice, I get the benefit from it.
When I was in the market began to decline in fantasy maybe tomorrow the price will be rise up, but didn't, the market has been down, until I lost seventy percent of their money, to begin to turn green, the market now if I could use your this way, maybe I won't lose so much money.
When I was in the market began to decline in fantasy maybe tomorrow the price will be rise up, but didn't, the market has been down, until I lost seventy percent of their money, to begin to turn green, the market now if I could use your this way, maybe I won't lose so much money.
1. I learned that no one can accurately and consistently predict the market. There are many gurus out there, giving out predictions like candy. Some have large followings and paid groups. It gives people a sense of comfort to seek advice and predictions from these people. But in the end, it's important to remember that no one knows what is going to happen.
This is true, many predictions have been said and some of them came from experts but is it really reliable? No because no one can certainly know the future of each coins. However its not bad to listen but dont just rely in what they are saying, its important to have firm decision hence if something bad happen you cant blame anyone but yourself. 
Experiences is better gurus, isn't. Trading is how about you can controlling your own money whether you want it to sell or buy.
3. The trend is my friend. When Bitcoin starts trading at lower highs and lower lows, that is the sign of a possible bear market. At that point, I convert back into fiat and wait. I don't try to catch falling knives, which means buy crypto as prices are falling. I patiently wait until the market hits the bottom. But how do I know what the bottom is? I don't. I wait for Bitcoin to show a reversal and solid uptrend, higher highs and higher lows, building solid support levels before I start to invest again. When I start investing, I carefully dollar cost average in.
4. By selling during a downtrend and buying during an uptrend, I make consistent profits. I don't have to know where the tops and bottoms are. And even if I make a mistake and sell my crypto too early, only to watch them rebound and moon, I have still protected my money. Then I get back on the train and continue the ride upward. I may suffer a little FOMO, but nothing is really lost.
These two points have given me an important reference that we don't need to counter market trend, take correct decision when the trend starts moving in way that does not benefit you. 4. By selling during a downtrend and buying during an uptrend, I make consistent profits. I don't have to know where the tops and bottoms are. And even if I make a mistake and sell my crypto too early, only to watch them rebound and moon, I have still protected my money. Then I get back on the train and continue the ride upward. I may suffer a little FOMO, but nothing is really lost.
I must add for the new people getting into crypto and alt coins, never buy at the all time high, despite how tempting the quick gains you may or may not make. With alt coins, always find out the ICO price so you can accurately gauge if it's going to be dumped.
Currently im loss over 50% from my total balance and my mistake dont use cut loss strategy, and i was just hodl it. And from this mistake i will change my strategy to selll by partly the coins when uptrend and keep some to fiat or in USDT so when downtrend happen again that some my money will safe there. And now i will trade on pair crypto with USDT only, because the crypto market downtrend together in some periode and also to make more easy to manage the risk when downtrend.
Learn how it moves, patience, if you fail to try and try until you succeed. most of all you need to not forget the god. pray god will provide. thank you.
I have learned some valuable lessons from trading that I would like to share. These are my personal thoughts and not trading or financial advice.
1. I learned that no one can accurately and consistently predict the market. There are many gurus out there, giving out predictions like candy. Some have large followings and paid groups. It gives people a sense of comfort to seek advice and predictions from these people. But in the end, it's important to remember that no one knows what is going to happen.
1. I learned that no one can accurately and consistently predict the market. There are many gurus out there, giving out predictions like candy. Some have large followings and paid groups. It gives people a sense of comfort to seek advice and predictions from these people. But in the end, it's important to remember that no one knows what is going to happen.
You are correct in here. Also, to be success, you should brave to risk you money. You should not afraid in what will happened to you investment.
Also to be success, you should know what is your fashion and you should goals.
These are lessons that the traders should adhere to so that they become profitable. The mistakes the traders make especially when they are just starting is becoming greedy. Always panic buying and selling and end up at a loss. It is so hard to control emotions when you are just starting but eventually when you continuously trade, you will learn how to control it and develop a strategy that will work for you. In addition to your suggestions OP, I would like to add to always have a trading plan and follow it. If you observe that it is not working then you can revise a little until such time that it will make you become profitable. No one can predict the market but at least you can have money management.
Most of telegram paid group is part of pump & dump group. Some youtuber & ICO reviewer work for money. SO taking decision based on there views is ver risky. Thanks for sharing your views. I want to make little addition from my side, that is don't be to much greedy. Book you profit & play with some portion of you profit.
The above suggestion is very helpful to the Newbie who doesn't have much knowledge about the trading. Most of the people will follow you because you have represented everything how trader will face everything in his trading journey. I faced the same situation at the beginning of my trading.
1. I learned that no one can accurately and consistently predict the market. There are many gurus out there, giving out predictions like candy. Some have large followings and paid groups. It gives people a sense of comfort to seek advice and predictions from these people. But in the end, it's important to remember that no one knows what is going to happen.
Those experts may be good in coming up with some charts based on market conditions but that doesn't mean that whatever they say it will happen. Because if that is true then they never share that piece of important information to anyone else instead they will keep it and become rich and no need to depends on a monthly fee.
3. The trend is my friend. When Bitcoin starts trading at lower highs and lower lows, that is the sign of a possible bear market. At that point, I convert back into fiat and wait. I don't try to catch falling knives, which means buy crypto as prices are falling. I patiently wait until the market hits the bottom. But how do I know what the bottom is? I don't. I wait for Bitcoin to show a reversal and solid uptrend, higher highs and higher lows, building solid support levels before I start to invest again. When I start investing, I carefully dollar cost average in.
I believe most of the people will fail in doing this every time because there are many bull traps so you can't escape from it. So what I do is I don't sell or buy all at once instead go with smaller quantity means when I think the market may fall then I book partial profit and rest keep it. If prices go down then I will buy a small quantity and wait for few more days. If again go down then buy some more or else enjoy the profit whatever I get from the previous purchase.
This is advice that every new investor to follow and its something that i eventually learned overtime through many mistakes. Learning not to panic sell and fomo is something that has saved me a lot of money and for every new investor to learn this theyr gonna have to experience a generally big crash followed by a long bear market. Once thats over, the urge to panic sell will dissipate.
Jump to: