Topic: How To Make Money Trading, Even When You Are Wrong - page 2. (Read 423 times)

Don't always believe in what other people are saying, don't watch too much of YouTube videos, some things you see online are nothing but pure lies, if you dare try any, you will lose beyond recognition, some of them you're seeing are paid for what they say, they are sometimes shilling or influencing others through advertisements, you have to just learn about what is good for yourself by trading using the right and specific desiring pattern which is expected, i don't know how someone can get it right while doing it wrong in trading.

In crypto, it doesn't matter which alt you're charting, if BTC pukes, alts do too. But when you're unsure of BTC direction, I use a Hedge trade strategy - Long XXX alt which has a bullish structure, and Short YYY alt of a bearish structure with equal risk%. This always worked for me resulting in net profit—one such recent trade I took - Short SUI and Long BNB.
https://i.postimg.cc/NjZY3Gwx/image.png

When you are just a newbie in the field of crypto trading, there is no need to rush just to get a big profit. At least 3–5% should be satisfied with that first, while you are learning trading.
The problem is that others are envious of other traders that they watch on YouTube, thinking that they will experience the same thing.

That's why it's important to learn the basics first in order not to look like a fool because you always think it's a get-rich-quick scheme; that's not the mindset of a newbie in trading.

Videos like that are very likely to mislead many novice traders because novice traders with minimal experience think that it is the truth, especially by showing pictures so that they are more convincing.
It is impossible for traders to never experience losses and always be able to overcome the mistakes they make so that they still end up making a profit, maybe they have experienced but it's just occasionally but occasional experience cannot be an accurate reference that mistakes can always be changed and still provide profits, and I am never interested in videos like that because it will only make us think that trading is easy even though it is the opposite.

You need to know the basics first from the videos to trade. No indicator will work if you can't catch the small things. Markets are not just driven by numbers they are influenced by human emotions and psychology. Fundamental analysis goes beyond price movements to consider other factors that affect the price of an index currency. By understanding the underlying economic drivers traders can make decisions consistent with broader market trends.

One of the problems of new traders especially the newbies is that they would want to use small money to trade and earn faster in the market using a large leverage. We should not use more than 10x as a trader and that should not make us copy other traders to use higher leverage especially when we don't know the amount of capital they are using to trade. It is better we follow our own rules so that we can profitable in the crypto market. Greed has always been the problem and we should make sure we take our eyes from that.

And what is the basis for this trader confidence that the price will return to the purchase zone anyway? Based on my experience, I can say for sure that not all coins increase in value after falling. And for some coins, sometimes you have to wait several years for movement.

When you are trading and things goes wrong, then I will say you are losing money from trading, so I don’t understand how you are going to be making money when things are going wrong? Maybe there is something you don’t understand. Also I will like to tell you that you shouldn’t trust most of those videos which you are going to be seeing on YouTube, most of them just post just because of subscribers and like, they just want to build their YouTube accounts so that they are going to be paid, so if you trust must of those YouTube videos, then you will be losing a lot.

When you are trading, always trade with little amount you can afford to lose, don’t trade with the money which incase if anything happens, you will end up being affected. If you have a good strategy, you might be trading with little amount of money, and be making more profit than someone trading with big amount of money. So always risk what you can afford to lose.

If you are not a English native speaker, you should have just posted link to the video, so that everyone will be able to watch the video themselves, not everyone will understand your post, but if you post the link, everyone will be able to watch the video. I will recommend you just edit your post, and add the link, it’s not late for that.

Yes indeed, risk management can do a lot to make a trade successful. And if you do it more consistently everytime you trade, then most likely you will never end up losing most of your trades. But do not end up with overtrading, that’s another story to tell. And never fall everytime what YouTubers have to say, its only rare of them that are telling the reality about trading, majority are still hiding their real experiences with trading, or they’re not actually trading in real life, who knows?

Usually this would really be talking about Trailing Take profits and Trailing SL's on which if you do really just that know on how to make use of this kind of strategy and made out some good decision making then
you could really be actually be able to make out profits despite of those losing position but of course not all the time it would really be a profitable one because there would really be movements or negative
that could lead out into reds but somehow if you do have this kind of skill or knowledge then this do really shows out that you could really be able to lessen up the the risks that you are taking.

This is really that advantage of those professionals or skilled ones compared into those noobs around but of course everyone starts on being a noob then learning is something that you would really be needing to follow.
As for PDF then there are tons that you could be able to see on, it would really be just that matter of research and finding with those information. Somehow there are some ebooks
which it might be something significant for you to learn on, but well its not worth it since everything could be seen online for free.

A fairly simple strategy, but it requires good trading knowledge, technical and fundamental analysis and knowing when to enter and exit.

It will work on spot or futures trading using compound strategies, and it's effective enough for short-term trading,
provided you've got strong enough capital to keep making incremental purchases 2x more than the initial purchase.

When the market starts to rise, it's time to sell with more profit, especially if it passes the first purchase price.

Without getting much into the trading strategies you mentioned which was shared by so called influencer I want you to discard all the techniques which they blabber as they do anything and everything for views, if they can win using any of those signals or strategies they won't be wasting time making videos. I have wasted enough time by following indicators and signals shared over YouTube they shamelessly share the indicators which repaints as well. Go back to basics and avoid these influencers.

Don't always trust YouTube videos.  Because they make most of the videos based on lies to get views.  Trade should always be done from own experience.  Learning to trade is hard enough.  But with regular practice of psychology and technical analysis it is possible to master trading.  Moreover, there are some basic rules of trading which can be followed to become a good trader.  Don't believe anything exaggerated in a video.  Because most of the videos are scams and made to get views.

Cryptocurrency market is very volatile and trading in this market is very risky.

Have good risk management is a first thing must learn before funding your trading account to trade. Risk management includes identifying risk reward ratio by that a trader has to determine the entry price, cut loss price and take profit price.

Then using a stop loss order to cut loss when price hits a cut loss price.

A better order is Stop limit order.

A trader must know difference of Market order and Limit order too.

One of best weapons in trading
Understanding the different order types
What is a stop limit order?

Trading is about timing the market perfectly, I'm wondering how can you make money when you make mistakes with your set-up?
Not unless that was an unintentional trade and yet the market favors your position and you are able to create money.

You should not fully depend to anyone when it comes to trading especially to the self-proclaimed influencer because they are doing it for purpose and you might not be able to adapt their strategy in time. As a trader, you should have your own strategy that can work based on your own timeline, don't listen to that about doing wrong and still make money, that's not how it works in the real world.

YouTubers often fake the truth to make their channel more attractive and make money. So trusting the internet or YouTube without checking something would be a wrong move. I mean, never assume that other people's tricks will work for you. Just like you can't learn to swim without getting in the water, you can never learn trading by copying strategies shown by others without doing your own research. We learn from mistakes and correct those mistakes to make ourselves more experienced and skilled. So to improve your trading skills and expand your knowledge about trading, you need to do your own research and have the right strategy and understanding of the market.

So basically he is trading without a stop loss. And since he is trading this way, generally usually some of those losses will reverse and they will dampen his earlier losses.

Sure this will work in a sideways market. But won’t work in a bullish or bearish market. If the market is bullish and he keeps shorting, eventually his position will be so large that it will liquidate him.

It’s not a good way to trade without a stop loss. It’s better to take a loss early and move on to something else. Don’t stay in losing trades for too long.

It can be profit with one lucky trade. We made bad decision, opened a bad position but the market gave us a gift and we got profit but it is for one or two lucky trades. In trading, long term, luckiness won't stay with a bad trader too long time.

Learning from mistakes and losses in trading is not easy. Traders usually make things worse and worse by repeating mistakes and even escalate it by trying to revenge the market.

From small losses to bigger losses and at the end, bankruptcy by over greedy and over leveraged in trading.

If we are wrong in trading then how will we see the possibility of making money. We cannot make money trading as long as we think we are making mistakes. Your destination is west but if you walk east then you will never realize your destination, similarly if you use wrong strategy instead of right strategy in trading you will never reach your right goal. If we feel that we are trading with the wrong strategy then we need to change the strategy and then change the strategy to apply the right strategy so that we can achieve success. Although if a trader makes a mistake, he will learn from the mistake and move forward, but if the trader realizes the mistake, he does the wrong thing again and again, but it will definitely be foolish for him, so he must trade with the right strategy without doing such foolishness if he wants to make a profit.

When you say a trader made things wrong in trading, it means loss. A trader can not make mistake and get money from trading.

It is a good capital management and let me elaborate it more.

You can start with $100 and if you succeed to increase it to $200 or $500, my advice is to withdraw $100 or $400 profit, and continue to use only $100 initial trading capital to trade more.

You will not lose if your initial capital if you manage your capital this way.

Nothing is completely sure in the market.