Know When to Stop. Lesson for Everyone, Particularly Investors - page 5.

TimeTeller

hero member

Activity: 2744

Merit: 588

Quote from: doomloop on October 19, 2023, 02:09:31 PM

Quote from: Kelvinid on October 13, 2023, 10:16:06 AM

Knowing when to stop is also like knowing yourself more. Greedy people often do not achieve success but failure and that is a lesson learned that we must know how to deal with our emotions and much more about controlling our greed. Well, for newbies it seems not easy to know about it but for experienced traders or investors, we probably know when to stop.

- stop if we already exceed our limits
- stop if we feel uncomfortable and out of the plan
- stop if we never understand that market situation

It's not about being a newbie or an experienced trader, it's all about the knowledge that you have and the basic understanding of how a financial market works. I might be a newbie in the cryptocurrency market but maybe I have a lot of experience in another financial market that has a lot of similarities with it and if that is the case, I would understand and know when I need to act and when I should simply keep my hands out of the dirt because it's only going to make them dirty.

A lot of people make the mistake of not acquiring enough knowledge about the market and how things work around, and the disadvantage for them is that they don't have any experience with any other financial market and this is the first time they decided to earn some money through trading because they've been seeing it all around.

Just like any trading market, you do need to equip yourself with enough knowledge on every project you want to explore with.
That is true, you may be new to crypto market but you've been doing the forex trading or other financial markets.
It means, you already have the basic knowledge what to look out or consider and you won't jump on a simple hype or anything.

lalabotax

full member

Activity: 1582

Merit: 132

BK8 - Most Trusted Gambling Platform

Quote from: Best-mary on October 13, 2023, 06:34:49 AM

Your decisions should be made thoughtfully. You should have clear reasons for buying or selling a specific cryptocurrency and how it aligns with your overall strategy. Make choices based on your strategy's principles.

It's like a test of our mental and emotional maturity to know when to stop in this case. Because, not many people are able to do it well, with careful consideration, and with grace. Stopping in this case is a step and effort so that we become calmer, understand the situation, and are wiser in making the next decision. Sometimes, this is not easy because, however, sometimes our enthusiasm and hopes to continue are at odds with the reality that is happening.

Quote from: Best-mary on October 13, 2023, 06:34:49 AM

Whenever you feel rushed and find yourself making decisions without considering your strategy, step back and take a break. Return when you can approach your decisions in a deliberate manner.

I agree with this, stopping doesn't mean we lose, but rather prepares ourselves for better, calmer and more managed steps according to the evaluation of previous results. We don't need to force ourselves and be determined to make a decision. Sometimes, the break time we have provides a moment where we can rearrange what we will decide and do it again. Especially in trading or investing in Bitcoin or crypto in general. We understand the risks, if we push ourselves too hard even though we already know what will happen next, then this is the same as being reckless without a strong basis. Bitcoin and other crypto are very risky things, because they require balance and emotional stability in every decision, as well as calm so that we can be better in the next step. And this break time could be one of the steps.

Sanitough

hero member

Activity: 2856

Merit: 674

Quote from: boyptc on October 18, 2023, 05:47:53 PM

Great advises.

It all sums up that when you're distracted and not focused, you better stop or something bad will happen to your trades. That's right, don't push it too hard when you're distracted and you can't focus with your analysis because it is your money that's being put in the line.

No matter what people say and disturbs you a lot, don't continue as trading is always free time and don't require us to trade at certain times. Maybe for some times, there are those moments like crucial times you're seeing some good entry and selling points.

But when disturbance comes to you, you're already losing that thought of what you must do. It's always okay to take a rest, a break and to stop when it is a must.

Remember that you are trading in the first place to make your life comfortable when you are already in profits, not to live miserably. So if you find yourself struggling already to trade for positive outcome, then never hesitate to take a break and stop trading temporarily. Trading does not require the most of our time, but it should be done on our extra time, except if you are a day trader that needs full focus and attention all throughout that day.

I believe that every trader only want the best of it, but if you find yourself totally disturbed because you want to take every part in buying and selling your coins, well that may be not healthy for you anymore. Know when to trade and when to stop. We only live once so do not push yourself into trading when you see it's not healthy for you anymore.

doomloop

hero member

Activity: 2408

Merit: 584

Quote from: Kelvinid on October 13, 2023, 10:16:06 AM

Knowing when to stop is also like knowing yourself more. Greedy people often do not achieve success but failure and that is a lesson learned that we must know how to deal with our emotions and much more about controlling our greed. Well, for newbies it seems not easy to know about it but for experienced traders or investors, we probably know when to stop.

- stop if we already exceed our limits
- stop if we feel uncomfortable and out of the plan
- stop if we never understand that market situation

It's not about being a newbie or an experienced trader, it's all about the knowledge that you have and the basic understanding of how a financial market works. I might be a newbie in the cryptocurrency market but maybe I have a lot of experience in another financial market that has a lot of similarities with it and if that is the case, I would understand and know when I need to act and when I should simply keep my hands out of the dirt because it's only going to make them dirty.

A lot of people make the mistake of not acquiring enough knowledge about the market and how things work around, and the disadvantage for them is that they don't have any experience with any other financial market and this is the first time they decided to earn some money through trading because they've been seeing it all around.

junder

hero member

Activity: 1092

Merit: 507

Leading Crypto Sports Betting & Casino Platform

Quote from: Natsuu on October 19, 2023, 08:59:46 AM

Quote from: boyptc on October 18, 2023, 05:47:53 PM

Great advises.

It all sums up that when you're distracted and not focused, you better stop or something bad will happen to your trades. That's right, don't push it too hard when you're distracted and you can't focus with your analysis because it is your money that's being put in the line.

No matter what people say and disturbs you a lot, don't continue as trading is always free time and don't require us to trade at certain times. Maybe for some times, there are those moments like crucial times you're seeing some good entry and selling points.

But when disturbance comes to you, you're already losing that thought of what you must do. It's always okay to take a rest, a break and to stop when it is a must.

Tho taking breaks in trading when you're distracted or unfocused is crucial, your peace of mind is worth more than rushing into trades. Someday, you’ll benefit from it. You’ll be able to make better decisions onve you calmed your mind. Remember, it's okay to step back and regain focus because obviously our decisions impact our hard-earned money.

Agree to the statement you said, I'm sure every trader must have experienced the same thing, when indeed you are really not focused on trading because of several factors that cause then there is nothing wrong if you decide to stop and rest, it's not bad because trading really involves calmness and focus to be able to carry out several strategies for a profit. Honestly, I have also experienced the same thing like this, where my brain and mind seemed unable to think and all the knowledge I had seemed to just disappear, and after that after I investigated it turned out that our state of mind would not always support entering the market which certainly requires maximum calmness and focus.

Don't be afraid not to make a profit today, because it's true as you said, our health is more important than anything and also, and you can start back into the market when your mind and condition are completely calm, it's better than you force and usually will result in a loss. Trading for a profit requires a decision and you will be able to get a good decision when your state of mind is calm which finally managed to get the right decision as a result of all the
considerations you did there.

Pandu Geddon

hero member

Activity: 826

Merit: 583

Quote from: Natsuu on October 19, 2023, 08:59:46 AM

Tho taking breaks in trading when you're distracted or unfocused is crucial, your peace of mind is worth more than rushing into trades. Someday, you’ll benefit from it. You’ll be able to make better decisions onve you calmed your mind. Remember, it's okay to step back and regain focus because obviously our decisions impact our hard-earned money.

Indeed, sometimes in life a person is very tired with whatever he is doing. and it is not recommended to do anything including trading that involves your finances.
You must have felt like you couldn't find any ideas even when you really wanted to look for them. and it takes some time until your mood returns and that makes ideas come to you. I'm not sure how everyone will solve their own problems. But everyone has experienced fatigue that makes us unable to think about anything.
If the situation makes you stuck, you can't even do anything. even with the many trading skills you have. more deadlocks will exist when you want to choose assets to trade. there is something disturbing that makes us unsure of our choices in an uneasy state of mind.

Natsuu

full member

Activity: 1148

Merit: 158

★Bitvest.io★ Play Plinko or Invest!

Quote from: boyptc on October 18, 2023, 05:47:53 PM

Great advises.

It all sums up that when you're distracted and not focused, you better stop or something bad will happen to your trades. That's right, don't push it too hard when you're distracted and you can't focus with your analysis because it is your money that's being put in the line.

No matter what people say and disturbs you a lot, don't continue as trading is always free time and don't require us to trade at certain times. Maybe for some times, there are those moments like crucial times you're seeing some good entry and selling points.

But when disturbance comes to you, you're already losing that thought of what you must do. It's always okay to take a rest, a break and to stop when it is a must.

Tho taking breaks in trading when you're distracted or unfocused is crucial, your peace of mind is worth more than rushing into trades. Someday, you’ll benefit from it. You’ll be able to make better decisions onve you calmed your mind. Remember, it's okay to step back and regain focus because obviously our decisions impact our hard-earned money.

Vaculin

hero member

Activity: 2940

Merit: 613

Winding down.

Quote from: Majestic-milf on October 18, 2023, 10:58:44 AM

Trading can be easy if one has other investments he's doing because if not it becomes difficult to keep your eyes away from checking the charts if you are a day trader. Bitcoin investment is not for the weak hearted and coupled with the volatility rate, it's best if you hold because that way you avoid running the risk of buying high and selling low.
I feel the Op gave some valid points and I feel this advice should not be limited to Bitcoin trading alone as it applies to every phase, especially if you are doing anything in relation to money, it's better to use a level head and not rush your decisions to avoid regrets later on.

While trading needs more focus and attention because it’s riskier than investing, but if you are seeing that trading has already gone wrong because aside that your losses have outnumbered your gains, and your life has turned into a roller coaster ride that gives you depression and frustrations, then maybe you need a break from frequently doing it. You need to unwind and relax your mind and body away from the highly volatile trading market. You need to develop another hobby so that you will have other thing to get busy with. And when you do that, you will never be completely affected whenever your trades upset you.

This is not only for trading but investing as well, or any other activity wherein you’re doing it for money. Once you see your goals are hardly met, your trades or investments are not working according to your plan, then take a break but never rush immediately to the idea of quitting. That will only make you a loser.

Lanatsa

hero member

Activity: 2968

Merit: 687

Quote from: Dave1 on October 19, 2023, 05:37:44 AM

Quote from: Lakai01 on October 19, 2023, 04:49:56 AM

Quote from: taufik123 on October 18, 2023, 11:29:33 PM

Being unfocused in any job is not good, especially in trading it will give a risk that will impact the final result of the trade.
[...]

I think we all know the problem you describe here. The less concentrated or the more pressure behind the trade ("this must work now!!") the worse the result usually is.

As a small tip: A bot is never unfocused. It has helped me a lot to have my strategies executed by a bot, the only lack of concentration can happen here when setting up the bot, but this error is usually noticed very quickly - and is also very easily corrected.
I used an open source bot that just ran on my Raspberry Pi, but now there are plenty of free online hosted bots that work even better.

Correct, it is still up to us humans on whether we will have success on trading if we used bots. As you have said, the right parameters should be set, and it can only be accomplished if you are a season trader already.

Otherwise, there will be a lot of trial and error on your part and it could lead to a lost early in your career.

But if you can get a hand on it and after several months, you might start to appreciate how good bots are as far as helping us in trading.

Wrong things or impressions towards Bots is that majority of noobs would really be having that kind of belief or something that they would really be that have in mind that it is the fastest and easiest way to make money on using it onto your trades without even trying out to realize on whats the real usage of it. Mistakes and errors is really that very common on trading world or investment as we do simply say.
We cant really be winners from time to time on which making up profitable trades on which it would really be making you that able to make money without struggling.

Market is really that unpredictable and volatile on which there's no way that we could really be able to make perfect trades from time to time. Just be sure that you do able to make profitable
trades despite of the losses that you do have in the end of the day.If you do see that you are experience such loss or hitting up your SL's then it wont really be that bad on having some break
or call it a day and completely stop trading on which you do need to be that relaxed and trying to figure out on whats going on but making out realizations that most of the time which
market is really that cant be known on where it would really be going but with those analysis we could make then we do know at least on what we should gonna do.

Dave1

hero member

Activity: 1414

Merit: 542

Quote from: Lakai01 on October 19, 2023, 04:49:56 AM

Quote from: taufik123 on October 18, 2023, 11:29:33 PM

Being unfocused in any job is not good, especially in trading it will give a risk that will impact the final result of the trade.
[...]

I think we all know the problem you describe here. The less concentrated or the more pressure behind the trade ("this must work now!!") the worse the result usually is.

As a small tip: A bot is never unfocused. It has helped me a lot to have my strategies executed by a bot, the only lack of concentration can happen here when setting up the bot, but this error is usually noticed very quickly - and is also very easily corrected.
I used an open source bot that just ran on my Raspberry Pi, but now there are plenty of free online hosted bots that work even better.

Correct, it is still up to us humans on whether we will have success on trading if we used bots. As you have said, the right parameters should be set, and it can only be accomplished if you are a season trader already.

Otherwise, there will be a lot of trial and error on your part and it could lead to a lost early in your career.

But if you can get a hand on it and after several months, you might start to appreciate how good bots are as far as helping us in trading.

Lakai01

legendary

Activity: 2296

Merit: 2721

Quote from: taufik123 on October 18, 2023, 11:29:33 PM

Being unfocused in any job is not good, especially in trading it will give a risk that will impact the final result of the trade.
[...]

I think we all know the problem you describe here. The less concentrated or the more pressure behind the trade ("this must work now!!") the worse the result usually is.

As a small tip: A bot is never unfocused. It has helped me a lot to have my strategies executed by a bot, the only lack of concentration can happen here when setting up the bot, but this error is usually noticed very quickly - and is also very easily corrected.
I used an open source bot that just ran on my Raspberry Pi, but now there are plenty of free online hosted bots that work even better.

Fredomago

legendary

Activity: 2996

Merit: 1054

Leading Crypto Sports Betting & Casino Platform

Quote from: ancafe on October 18, 2023, 11:33:12 PM

Quote from: Best-mary on October 13, 2023, 06:34:49 AM

Your decisions should be made thoughtfully. You should have clear reasons for buying or selling a specific cryptocurrency and how it aligns with your overall strategy. Make choices based on your strategy's principles.

Whenever you feel rushed and find yourself making decisions without considering your strategy, step back and take a break. Return when you can approach your decisions in a deliberate manner.

Before you talk at length about trading and investing, you should recognize both of them correctly. Because actually trading and investing are very different in practice and there are big differences in terms of how to understand them. We will know when to buy or when to sell when we have knowledge about the coin and if one does not understand the market journey of this kind of coin then there is no way to observe the market journey of the coin.

Decisions will be based on knowledge and we can make good decisions if we know how. Trading requires a strategy and is much more difficult to do if you don't know the pattern and that's why trading is not suitable for everyone who doesn't understand how to do it properly. If all the decisions we make are wrong, it may not be trading that is suitable for us to do but investing.

There's a good wisdom from how you describe things here, trading is more difficult as a single mistake can lead you to lose all your investment, unlike with investing as long as you are holding your asset the chance that it may pump back will allow you to recover and make money with your investment, though similar in both side, you need to have that knowledge to anticipate what value you are aiming to collect your profits.

That knowledge can lead you to make money from this venue of investment, and you need to keep learning from each trading or investing that you are involved with.

ancafe

hero member

Activity: 1778

Merit: 746

Quote from: Best-mary on October 13, 2023, 06:34:49 AM

Your decisions should be made thoughtfully. You should have clear reasons for buying or selling a specific cryptocurrency and how it aligns with your overall strategy. Make choices based on your strategy's principles.

Whenever you feel rushed and find yourself making decisions without considering your strategy, step back and take a break. Return when you can approach your decisions in a deliberate manner.

Before you talk at length about trading and investing, you should recognize both of them correctly. Because actually trading and investing are very different in practice and there are big differences in terms of how to understand them. We will know when to buy or when to sell when we have knowledge about the coin and if one does not understand the market journey of this kind of coin then there is no way to observe the market journey of the coin.

Decisions will be based on knowledge and we can make good decisions if we know how. Trading requires a strategy and is much more difficult to do if you don't know the pattern and that's why trading is not suitable for everyone who doesn't understand how to do it properly. If all the decisions we make are wrong, it may not be trading that is suitable for us to do but investing.

taufik123

legendary

Activity: 2716

Merit: 1855

Rollbit.com | #1 Solana Casino

Quote from: boyptc on October 18, 2023, 05:47:53 PM

It all sums up that when you're distracted and not focused, you better stop or something bad will happen to your trades. That's right, don't push it too hard when you're distracted and you can't focus with your analysis because it is your money that's being put in the line.
-snip-

Being unfocused in any job is not good, especially in trading it will give a risk that will impact the final result of the trade.

I was in a phase several times where I couldn't focus at all while trading but tried to stay in.
Finally, what I was afraid of happened, I made a wrong prediction that I should have made a profit instead turned into a loss because I forced myself to enter even though it was late.

Trading requires its own time, if you cannot separate the time for trading and time for other activities.
Then it's better to just choose one of them.

poodle63

hero member

Activity: 2702

Merit: 510

Leading Crypto Sports Betting & Casino Platform

sometime some people getting too carried away by their emotion that they choose to continue to trade or invest even though they know they are making bad decision hoping that they could recover back their losses.
they should know that series of bad decision is exactly what gonna make them lose money further, its kinda no brainer that when their decision get influenced by emotion they'd choose the most non sense trading strategy ever hoping that miracle happening which it isn't gonna be happening.
thats why its better to take a break, but the difficult thing is when our investment and trade already stuck and the only way is to cut loss.

boyptc

hero member

Activity: 3024

Merit: 680

★Bitvest.io★ Play Plinko or Invest!

Great advises.

It all sums up that when you're distracted and not focused, you better stop or something bad will happen to your trades. That's right, don't push it too hard when you're distracted and you can't focus with your analysis because it is your money that's being put in the line.

No matter what people say and disturbs you a lot, don't continue as trading is always free time and don't require us to trade at certain times. Maybe for some times, there are those moments like crucial times you're seeing some good entry and selling points.

But when disturbance comes to you, you're already losing that thought of what you must do. It's always okay to take a rest, a break and to stop when it is a must.

Japinat

hero member

Activity: 3052

Merit: 685

Quote from: milewilda on October 18, 2023, 02:23:18 PM

Quote from: Best-mary on October 13, 2023, 06:34:49 AM

The cryptocurrency market is known for its swift movements, which can often lead to impulsive reactions. When you wake up to a sea of red in the market, the instinct might be to either rush in to buy or hastily sell. However, the best response often involves taking a step back. It's essential to learn to recognize warning signs that indicate you should pause and reflect before making decisions.

Investing in Bitcoin or cryptocurrency in general is more of a marathon than a sprint. You'll likely be part of this market for many years, and during that time, you'll witness significant fluctuations.

If you ever catch yourself hurrying to make a trade – Pause.

If you become irritable when someone interrupts you as you analyze your investments – Pause.

If you're consumed by doubts about whether buying or selling is the right move – Pause.

If emotions start to dominate your decision-making – Pause.

Your decisions should be made thoughtfully. You should have clear reasons for buying or selling a specific cryptocurrency and how it aligns with your overall strategy. Make choices based on your strategy's principles.

Whenever you feel rushed and find yourself making decisions without considering your strategy, step back and take a break. Return when you can approach your decisions in a deliberate manner.

Perhaps all you need is a short coffee break, or maybe you should step away for a day or even a week. Your portfolio will still be there when you return. Remember, you're not a day trader. You don't have to react to every minor market swing. Not a single day in the market should make you feel like you're racing against time.

One of the advantages of the Dual Investment Strategy, which I've discussed before, is that it doesn't demand constant attention. You can set up your portfolio, step back, and live your life, checking on your investments when it's convenient for you. Let your life schedule when you review your portfolio, rather than letting the market dictate your life. There's nothing in this strategy that necessitates an immediate reaction to market movements. Just because the market is moving rapidly doesn't mean you have to follow the crowd blindly. The same holds true for the Dollar Cost Averaging (DCA) method.

If ever you do make or find yourself that already becoming that a gambler like- Pause
If you do ever find or make yourself do go beyond your limits in speaking about finances then STOP.
If you do find yourself that being impulsive and doesnt go along or to the right path on what you had made out plans then STOP.

Limitation would really be that crucial because not anytime it would really be the best time to make up trades on which there would really be things or factors on which it could really be affecting
your emotion and mindset on which its really that not good if you do still decide to continue. There's really that a particular moment on which you would really be needing to take some break or pause.
Knowing on when to stop is really that crucial because not all the time we could really make good trading positions or investment decisions.

It might that easy to say but applying this would really be that so hard on integrating or making it done due to each person does have their own control and discipline
on what are the things that needs to be done or something that do talks about your investment decisions.

If everything that is happening is not working according to your plan, then STOP. We all deserve a break when things are not doing good anymore. You don't have to be trading or investing at all times for you to maximize your profits, as over trading will sometimes lead you to lose a lot unexpectedly. That is the reason why we have to set limits in everything that we do so that the results will still be in controlled by us. Otherwise, if we let ourselves fed up with all these trading and investment profit goals, there will really come a time that all our emotions will burst out simply because we don't met the expectations that we have set.

Learn to take things one at at time. The best way to be successful on our endeavors is not by putting all our hardwork and efforts in it, but to learn to accept things that at some point, things may not work as it is. While trading and investing could give us the best profits we could ever dream of as long as they are done perfectly, but let's also not forget that those can also be a source of huge financial losses when things are not favored by the market itself.

DVlog

full member

Activity: 504

Merit: 212

Quote from: Twentyonepaylots on October 18, 2023, 02:01:54 PM

Quote from: GreatArkansas on October 15, 2023, 09:01:56 PM

It's like a general stop loss where you know your limits. Stop loss is important because it's a decision you lose small or you lose big.
That's why it is very important in trading or in any investment.

Stop loss is a vital role in trading to minimize our losses, but sometimes we also make mistakes setting our stop loss making us regret after we see how our trade ends.

Misuse of stop loss can only give you pain. You need to have extensive knowledge of technical analysis and the ability to make almost correct predictions. Stop loss is used by mostly interday or short term traders. If you are a long term holder then using DCA instead of stop loss will be the right approach as short term price movement won't affect your long term result.

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: Best-mary on October 13, 2023, 06:34:49 AM

The cryptocurrency market is known for its swift movements, which can often lead to impulsive reactions. When you wake up to a sea of red in the market, the instinct might be to either rush in to buy or hastily sell. However, the best response often involves taking a step back. It's essential to learn to recognize warning signs that indicate you should pause and reflect before making decisions.

Investing in Bitcoin or cryptocurrency in general is more of a marathon than a sprint. You'll likely be part of this market for many years, and during that time, you'll witness significant fluctuations.

If you ever catch yourself hurrying to make a trade – Pause.

If you become irritable when someone interrupts you as you analyze your investments – Pause.

If you're consumed by doubts about whether buying or selling is the right move – Pause.

If emotions start to dominate your decision-making – Pause.

Your decisions should be made thoughtfully. You should have clear reasons for buying or selling a specific cryptocurrency and how it aligns with your overall strategy. Make choices based on your strategy's principles.

Whenever you feel rushed and find yourself making decisions without considering your strategy, step back and take a break. Return when you can approach your decisions in a deliberate manner.

Perhaps all you need is a short coffee break, or maybe you should step away for a day or even a week. Your portfolio will still be there when you return. Remember, you're not a day trader. You don't have to react to every minor market swing. Not a single day in the market should make you feel like you're racing against time.

One of the advantages of the Dual Investment Strategy, which I've discussed before, is that it doesn't demand constant attention. You can set up your portfolio, step back, and live your life, checking on your investments when it's convenient for you. Let your life schedule when you review your portfolio, rather than letting the market dictate your life. There's nothing in this strategy that necessitates an immediate reaction to market movements. Just because the market is moving rapidly doesn't mean you have to follow the crowd blindly. The same holds true for the Dollar Cost Averaging (DCA) method.

If ever you do make or find yourself that already becoming that a gambler like- Pause
If you do ever find or make yourself do go beyond your limits in speaking about finances then STOP.
If you do find yourself that being impulsive and doesnt go along or to the right path on what you had made out plans then STOP.

Limitation would really be that crucial because not anytime it would really be the best time to make up trades on which there would really be things or factors on which it could really be affecting
your emotion and mindset on which its really that not good if you do still decide to continue. There's really that a particular moment on which you would really be needing to take some break or pause.
Knowing on when to stop is really that crucial because not all the time we could really make good trading positions or investment decisions.

It might that easy to say but applying this would really be that so hard on integrating or making it done due to each person does have their own control and discipline
on what are the things that needs to be done or something that do talks about your investment decisions.

Twentyonepaylots

sr. member

Activity: 1918

Merit: 370

Quote from: GreatArkansas on October 15, 2023, 09:01:56 PM

It's like a general stop loss where you know your limits. Stop loss is important because it's a decision you lose small or you lose big.
That's why it is very important in trading or in any investment.

Stop loss is a vital role in trading to minimize our losses, but sometimes we also make mistakes setting our stop loss making us regret after we see how our trade ends.

Quote from: GreatArkansas on October 15, 2023, 09:01:56 PM

Quote from: usekevin on October 14, 2023, 06:58:04 PM

The important part of the trading will be holding after you buy at the right price using your strategy in the trading.The strategy building was the important one in the trading,the trader can create this by spending their valuable time in the trading.If you had learn the trading,So you will learn to hold the coins for the longer period.The trader who learned trading by spending their time in the trading,he will have the good patience for holding the money for the longer period.The holding was the important thing in the trading to get huge profit in trading.

That's why before you open a trade you must have already a plan, entry price, target price, and stop loss price. You don't open a trade just for random because if so, it's just like a gambling, that's why there are technical analysis, fundamental analysis.

This is the normal thing to do right? I mean trading is preparing yourself to ride a wave not to dive into it. Just one piece of advice when trying to place an entry price, make sure you are setting at the history point of price, usually it always go back to that price pumping or dumping again. And for stop loss, just minimize your stop loss at -20%, Imma say that's the safest when it comes to minimizing your losses especially in huge trades.

Topic: Know When to Stop. Lesson for Everyone, Particularly Investors - page 5. (Read 1078 times)