How to Minimize Loss when trading for beginners

leonix007

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Quote from: harizen on October 05, 2018, 05:49:27 PM

Quote from: Toukexx99 on October 05, 2018, 05:38:05 PM

~snipped~

Good pointers indeed but most beginners today are not used to read every cautions before doing trades.

So for me, I want to see them experiences those losses in the early phase of their trading journey so that in the future they will do something to prevent or minimize it. Their experienced will lead them to automatically known those pointers above if they are really eager to pursue their trading career.

As mush as we want to help newbies to experienced mistakes, it can't be prevented. Sometimes to become professional, you must know the feeling of being in loss so you will understand what you are really doing.

Newbies should expect a loss, that's so normal

what it should take into consideration is the amount to be burned

however, if the amount is too small, often times those fail trades are forgotten, and if its a big amount it will be remembered

sometimes getting the pain will be the best teacher and experience

gantez

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Quote from: Toukexx99 on October 05, 2018, 05:38:05 PM

«» Enough rest
Cryptocurrency trading can indeed be done 24 hours from home. You can continue trading. But need to remember; if you are too tired it will cause the concentration to split, and surely your trading will become chaotic. Be aware and wise in this matter.

What I can say about this point is that trying to be steady with the computer for 24 hours might make you take a wrong decision or making you just dive into the market because you want to make money. Is going to be like forcing the market.

But if you can control your emotion and you understand your pattern of trading, then it won't be a problem for me.

Quote from: Toukexx99 on October 05, 2018, 05:38:05 PM

when facing a disaster in the form of losses

surely, there are times like that too. I call it, crisis time. That time, you won't understand what is happening with your pattern, they keep failing. Just be patient and either take a break.

erickkyut

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Thank you for this thread. It is very beneficial for the beginners and also to some tenured traders. Just to add up, investing in your self is the most important. Equipped your self first with knowledge about trading and crptocurrencies. If you are knowledgeable about it, that is the bes way to minimize or cut your losses.

supermine

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Don't expect too much from the day you started trading,which is the mistake made by the beginners when they can't make any profits for a while they leave in between but they need to hold on the hard situation and limit themselves for how much they can able to withstand from their capital.And bump and dump groups are the another thing which most of the newbies thing they can make profits from their signal but they not realizing that most of the groups were scam.

Karr98

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In my opinion is that many new trader always thinking to earn big profit without knowledge. They think that trading is easy they maybe only read at chat room to hear some people say to buy "x" coin or some people say to sell this coin. So when we want begin tto trading(not only in trading but in all) first we must learning reading (technical,fundamental management risk that you can search in internet)about it and then you can make your research. Do not afraid to be lose and if you lose please make a note and research why you can lose. With many experience i think we can get more knowledge.

Tamilson

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Quote from: harizen on October 05, 2018, 05:49:27 PM

Good pointers indeed but most beginners today are not used to read every cautions before doing trades.

And most beginners jumping here thinking to have a quick profit so in return they tend to trade impulsively in which losses are real damn thing.

Even a lot of guides to be read doesn't guarantee to earn decently, because the real challenge starts when you do actual trading. Don't afraid to experience some losses as this will help you throughout.

moynul2050

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Quote from: Toukexx99 on October 05, 2018, 05:38:05 PM

«» Don't be over-confident
This is one of the factors most often done by beginners in trading. Too confident is very dangerous because sometimes you don't know exactly what is happening in market trading.

I like this section, this is always a thing that is overlooked in trading. anyone will be pleasant when they get a profit, but one thing that is forgotten is that the market keeps moving and we don't get stuck with our own beliefs. emotions must be conquered with caution.

harizen

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Quote from: Toukexx99 on October 05, 2018, 05:38:05 PM

~snipped~

Good pointers indeed but most beginners today are not used to read every cautions before doing trades.

So for me, I want to see them experiences those losses in the early phase of their trading journey so that in the future they will do something to prevent or minimize it. Their experienced will lead them to automatically known those pointers above if they are really eager to pursue their trading career.

As mush as we want to help newbies to experienced mistakes, it can't be prevented. Sometimes to become professional, you must know the feeling of being in loss so you will understand what you are really doing.

Toukexx99

jr. member

Activity: 192

Merit: 3

Many ways to minimize loss, both when you are trading or when facing a disaster in the form of losses, using protection. Why only minimize?
How to? Here are some tips for avoiding loss in trading.

«» Don't be over-confident
This is one of the factors most often done by beginners in trading. Too confident is very dangerous because sometimes you don't know exactly what is happening in market trading.

«» Use stop loss
There is a dilemma that traders must deal with in trading on cryptocurrency , when their position touches stop-loss prices return to the direction they have predicted. But when stop-loss is eliminated, the market makes a bigger floating. When trading don't ever hesitate to use stop loss, if your instincts say so.

«» Cut-loss
Releasing 1 wrong or false analysis is highly recommended to be able to trade better in the future.

«» Enough rest
Cryptocurrency trading can indeed be done 24 hours from home. You can continue trading. But need to remember; if you are too tired it will cause the concentration to split, and surely your trading will become chaotic. Be aware and wise in this matter.

Topic: How to Minimize Loss when trading for beginners (Read 172 times)