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.
Try to diversify when investing like investing in more than one project and to be safe trade with established coin the risk investing in new coins are high and most time disastrous
you need to learn crypto trading because trading require knowledge experience and skills,there is some good youtube channels where you can learn trading
At first you learn knowledge about trading. You should knowledge about market which coin is good and which coin is not good for trading also you watch video about cryptocurrency it should be help you.
But now this time all market now down so it's very difficult trade cryptocurrency.
But now this time all market now down so it's very difficult trade cryptocurrency.
i'm already in loss of 2k dollar in trading...how to take safety measures from loss
don't panic, pls hold
wait first, don't u think not the good moment to do anything now i'm already in loss of 2k dollar in trading...how to take safety measures from loss
I think investing is more secure. Consider such projects as MobileGo. 66 on coinmarketcap a few days ago.
safely is not even applicable in a very unpredictable environment
The only form of safety and means to trade wisely is through investing with your spare money, we all know of of the volatility of this network and one wouldn't want his or her life savings stuck and at a 90% loss. And also before trading it's best to make sufficient research on different methodologies and hinge on the one that suits or fits you and you feel you're most likely to come out on top
safely is not even applicable in a very unpredictable environment. no one know what's gonna be the behavior of the market today. assumptions can be lucky streaks if you got your bets right.
that's a lot of money for me. on my part, i still can't go all out specially now that btc is so down. i suggest continue researching.. put in small amounts first before you fully throw everything.
There is a high risk in trading and you should know of that. However, you can see and check market and find out when you should buy crypto and when you should sold your crypto. Base on experience as trading crypto like for example bitcoin, I usually but it when market had a huge dip or when it is red. And then wait for some time when market is green or has a good market price increase then that is the time I will sell my crypto holdings. Then buy again if market will have another dip.
i'm already in loss of 2k dollar in trading...how to take safety measures from loss
I think investing is more secure. Consider such projects as MobileGo. 66 on coinmarketcap a few days ago.
i'm already in loss of 2k dollar in trading...how to take safety measures from loss
I think investing is more secure. Consider such projects as MobileGo. 66 on coinmarketcap a few days ago.
i'm already in loss of 2k dollar in trading...how to take safety measures from loss
The obvious answer is a stop-loss, which limits the amount you can lose on each trade.
You might want to step back and study a bit more before rushing into trading. Here's an introductory tutorial on beginner trading and technical analysis strategies. It's important to have a trading plan (including stop-loss) for every trade you enter.
Trading is not something you simply dive in because you heard Mr A is making huge profits from it, you'll definitely need to learn how to trade effectively and the sort of market situation that suits your form of trade
You've already lost so much in a short time, take a break from trading and try studying how to trade effectively,you can use the forums search button
You've already lost so much in a short time, take a break from trading and try studying how to trade effectively,you can use the forums search button
I can already tell you that you're doing it wrong, and it's not because you lost money, but because you've invested without knowing the basics. If you invest like that it's pure gambling. You're putting money on the line and hoping to get lucky.
Firstly, you should trade with the market, not against it. We are in a bear market, which means that shorting will in general be more profitable than going long.
Secondly, you have to decide is for someone with no skill and knowledge trading is the best option. Do you have time to watch the market every day? If not, wait for the reversal and go long. It's much safer than trying to predict the bottom.
Firstly, you should trade with the market, not against it. We are in a bear market, which means that shorting will in general be more profitable than going long.
Secondly, you have to decide is for someone with no skill and knowledge trading is the best option. Do you have time to watch the market every day? If not, wait for the reversal and go long. It's much safer than trying to predict the bottom.
Clearly you don't know what you are doing if you are asking for help on how to "safely" trade in crypto. If my guesses are right you have zero knowledge in trading that is why you are asking a very vague question so my advise is for you to stop trading crytocurrencies first and convert your holdings to fiat. After that you should study how to trade particularly learn how to do technical analysis as this is gonna be the backbone for your trades, basically TA is what you need to reduce the risk and survive in trading.
There are not 100% safe with trading. To reduce the chance for loss money, it is important to gain more experience and knowledge with trading. Researching and find more information before investment. For limit loss I prefer invest small amount each time. Sometime patience is also important, some coins drop their price short term and their price will recover eventually. Now is still bear market, most coins are drop, so when the market recover, some of the coins will recover, If you didn’t sell your coins, then it doesn’t lose anything yet, this is only my opinion.
In a market like this, it is very difficult not to lose money. Many altcoins have lost about 90% or more in price. As written above, use stop losses to minimize losses.
It's either one of these two:
- You trade safely by just allocating smaller amounts for your trading especially if you're still a beginner. To be an effective trader, not only you need to be good at playing with probabilities, but you also need to control the risk factor. Knowing that you lost 2k and that it seems that you're not confident with your trades at all, you should definitely be using small amounts.
- Just don't trade at all.
Trading crypto currencies is a hell of a ride and definitly not for newbies. First of all you have to control your feelings and dont fall for FUD or FOMO. 90% of losses happen because the trader cant control himself. There are a lot of very good traders out there, some of them even share training videos for free, eg. @philakonecrypto
well... that's a shame... How long are you trading? Maybe you should try to learn some more about crypto trading first? I've recently found interesting crypto teaching lessons. If you want I can share a link. 
You should try and implement some kinda of stop loss strategies in your overall trading method.
i'm already in loss of 2k dollar in trading...how to take safety measures from loss
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