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Topic: Having loss is part of experience as a Trader - page 3. (Read 466 times)

legendary
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Merit: 1379
Fully Regulated Crypto Casino
However, non will teach you how to control your emotion when the market go against you.
When it comes to trading, no one is expert or perfectly can supress his/her emotions that easily. What I meant is, oncr you get the hang of it. There is part of yourself that you wanna still gain more, instead selling off your trades with profit already you wait for a higher profit until the gains sunk and go back to a lower line that eventually become a loss.

Avoid being greedy. Set a target and youre good to go. Technical analaysis and fundamental can be learn slowly its just you need enough experience to control those emotions. Anyway there is always win or loss on the market.
full member
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Merit: 148
So you have finally completed that trading guide and how to analyze the chart with some indicators. You are ready to risk it all, with proper management, but there are certain things tutors wouldn't tell you. They will teach you how to set your position, when to enter and exit the market, how to take profits at double top and enter to position at double bottom and finally when to take profit with stop loss.

However, non will teach you how to control your emotion when the market go against you.
This happens to many new traders including me, it took me time to admit to some mistakes I made in my early days, this is when guilt and regret set in, which is unavoidable in crypto industry because of market volatility and fake out.

Risk what you can only afford to loose so that your mistakes turn you to better trader.
A trader should either exit trade with :

  • A small loss
  • Even
  • Huge profit
  • Little profit

Ps: Reading books on how to trade crypto is never enough to make you a pro trader, indicators can fail you as well.
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