Topic: how to trade safely in crypto currency? (Read 701 times)
Aside from knowing how to trade, you have to keep your crypto SAFE. It's a trader's worst nightmare - generating amazing profit and then losing it all due to the lack of security. One of my friends lost his crypto because he stored them on his phone. He must have clicked on a bad link and lost it all due to a virus (fortunately he didn't have much crypto at that time, but still). Since that, I have never kept my funds on my phone. But recently I came across https://bitwings.org and their smartphones. The company has been in the telecommunications industry for 10+ years so they know what they are doing. In the recent years, they started to develop ultra-secure smartphones, perfect for crypto enthusiasts like myself. Their most recent phone, called Wings WX, even won an award in Spain. It integrates neural technology, biometric profiles and strong encryption to secure your phone.
Safe trading is when you understand the principle of trading and use your knowledge and not your intuition. You can only secure yourself using good strategy and money management.
I dont understand what do you mean saying safely? trading is risky so only way to be safe is be informed have trading skills and dont put all your money in trading and there is no trading without loss you just need to have more wins than loss then your good trader if you think you mustnt loss at all then you needt try to be trader.
He lost $2,000 so that means on how to avoid further losses. That what he meant of trading 'safely' although we know that there's no way to settle the risk that is associated with trading. We knew about on how risky trading is but experience wise, charge to experience.His experience was quite expensive for a $2,000 loss. It's easy to say to have more wins than loss but you just can't predict that to someone who's not really familiar with what he do.
I'm dabbling in trading through coinbase pro, and I'm taking what I consider to be a fairly safe path. I only speculate by buying without gearing, and I use "play" money. ie. money that I can afford to tie up for the mid-term. My approach is predicated on my belief that in the long run Bitcoin will increase in value. This means that if I misread the market, and buy at the wrong time, I can just hold the coins until the market recovers.
I dont understand what do you mean saying safely? trading is risky so only way to be safe is be informed have trading skills and dont put all your money in trading and there is no trading without loss you just need to have more wins than loss then your good trader if you think you mustnt loss at all then you needt try to be trader.
Just don't be a fool and trust Exchanges!
I Lost 4btc in Cryptsy when it was hacked or just scammed and ran away
That's very unfortunate and sorry for your losses. There's no way to trade safely in crypto if first of all you don't know what you do. You should have a game plan before proceeding with such coins you are about to buy.I Lost 4btc in Cryptsy when it was hacked or just scammed and ran away
Set your limits, buy orders and sell orders. It's about the discipline that you will apply while being patient waiting for your trades to profit. Also avoid such coins that are just obviously pumps and dumps. The unstoppable and most advise of all, invest what you only afford to lose.
If trading didn't worked, its best to stop and just buy to hold.
It all is to do with right option to trade through. I trade with FreshForex, as they are highly secure and regulated with servicing since last 13-14 years, so that makes them so very special. Plus there is 200% Deposit Bonus, which gives the comfort that very few gives.
Just don't be a fool and trust Exchanges!
I Lost 4btc in Cryptsy when it was hacked or just scammed and ran away
I Lost 4btc in Cryptsy when it was hacked or just scammed and ran away
Before i do something with high risk, like a trading. I always learn it and searching with browser or watching video in youtube to learn how to trade safely. Its give me more experience to do something at first time. Maybe you can try it and find a bad in your work of your loss
Never begin directly trading till the time you have some good knowledge about the product you are going to trade and also understand the risk factor it involves as this is very volatile market and can lose money very easily. So be careful while trading and do choose some best coin initially to trade and get experience as well .
i'm already in loss of 2k dollar in trading...how to take safety measures from loss
If you are new to trading then please spend some time trading on testnet.
Have your own strategy, TA.
Have tight stop loss on every trade.
If your trades are continuously going wrong WAKE UP!! it is time for a break.
For the first, stop all your traiding operations.
Next you should transfer all your savings to fiat money.
Now you can start to explore the market and basic trading rules.
Don't forget about technical analysis.
It will be your foundation in crypto trading.
Start to watch educational videos, read books.
Next you should transfer all your savings to fiat money.
Now you can start to explore the market and basic trading rules.
Don't forget about technical analysis.
It will be your foundation in crypto trading.
Start to watch educational videos, read books.
You should make a research first before starting invest in a coin, and put only a part of your total of what you want to invest and not loose all your bank. And also better choose only some coins with buy order support and always invest only money that afford to lose.
Safe trading it's when you fully understand the market and follow your strategy. The market likes consistency so you need to follow the rules of the market.
What did you trade in?
You should never rush into investing in cryptocurrency without first getting the rudiment there are some coins that are not worth investing and can leave you at a loss trade with top coins although it would require capital but you have 2k which is a good sum
You should never rush into investing in cryptocurrency without first getting the rudiment there are some coins that are not worth investing and can leave you at a loss trade with top coins although it would require capital but you have 2k which is a good sum
You have to study the trends of a coin before investing in it. If you realize that there is a coin that can shoot up really high, then that is a coin which can help you make profit and you can invest in it.
While trading in the cryptocurency you have to be very careful. you should be knowing what your doing and should choose the correct and good project by knowing about the project background. and you should not disclose any information about your trading in front of some stranger.
It is safer to trade when you think that you should not trust anybody. This because many are fraud and some are good at it like you will never going to know unless if you will ask for a third party to (escorow service provider) whe. you do trade. It is more safety trusting a person with good or positive trust rating here in bitcointalk. Yet still be cautious. If you wish to buy crypto then visit some good websites to buy for it.
I do not know, whether you are a new trader or a professional, if you are a new trader, I think that is quite a large capital, you must learn first from the strategy of tranding and how to minimize large losses. and if you are an old trader, I think you are predicting and too fanatic about people's words, even the end of the year will rise in price
When your trading you have to be having a high knowledge of the market.
You should make your exchanges with the exchangers you know them very well.
You should make your exchanges with the exchangers you know them very well.
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