Money Management Principle in bitcoin and altcoin Trading - page 2.

Red-Apple

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Quote from: Idrisu on November 21, 2016, 01:36:24 AM

I have been trading forex for a while now, one subject in forex trading that I don't want to talk about is money management or risk management. Most time I want to double my capital in a month and because of this I will not follow money management principles. I loss a lot and most at times my entire capital wap out. My question is what is money management?

in my experience this is one of those topics that you only have to learn on your own. and no amount of reading is going to change anything for you unless you start getting your feet wet.

start keeping logs if you find it hard. and follow every money that goes in and out of your pocket and try to find ways of reducing the risks and increasing the result you get by making better decisions.

Zadicar

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Quote from: X-ray on November 22, 2016, 08:17:50 AM

Quote from: Idrisu on November 21, 2016, 01:36:24 AM

I have been trading forex for a while now, one subject in forex trading that I don't want to talk about is money management or risk management. Most time I want to double my capital in a month and because of this I will not follow money management principles. I loss a lot and most at times my entire capital wap out. My question is what is money management?

you definitely can't control your greediness and end up losing a lot. that's the main problem here you just need to learn to manage and being such a patience guy
and bout your question,you stated you've not followed the principle of money management but asking what is money management, i guess you already know it so the question just don't make sense

You are right the greediness would really come out especially when you are trading and this feeling would really come out and its really hard to control it and your money management would really be affected regarding with this. When you do have these problems ,its only you could only able to handle that and you will surely realize that in the end especially when you do experience already losses.

X-ray

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Quote from: Idrisu on November 21, 2016, 01:36:24 AM

I have been trading forex for a while now, one subject in forex trading that I don't want to talk about is money management or risk management. Most time I want to double my capital in a month and because of this I will not follow money management principles. I loss a lot and most at times my entire capital wap out. My question is what is money management?

you definitely can't control your greediness and end up losing a lot. that's the main problem here you just need to learn to manage and being such a patience guy
and bout your question,you stated you've not followed the principle of money management but asking what is money management, i guess you already know it so the question just don't make sense

romero121

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Quote from: streazight on November 22, 2016, 06:39:48 AM

Money management in trading is kind of technique that will ensure your long run within trading.

Your trading volume and stop-loss levels should be chosen in a ratio based on your trading capital amount.

For example : A trade call which comes with more risk and not suitable for your capital amount then you must avoid that call without trading. That is money management.

That's unfair. When you feel yourself risky or not suitable for profiting just avoiding the trade call is not money management. You make necessary arrangements to grab the profit, though you know its risky is the true money management. Only then growth happens as well high volume trades keeps moving

streazight

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Money management in trading is kind of technique that will ensure your long run within trading.

Your trading volume and stop-loss levels should be chosen in a ratio based on your trading capital amount.

For example : A trade call which comes with more risk and not suitable for your capital amount then you must avoid that call without trading. That is money management.

hisuka

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This is very important to know what is money management
principle in forex trading. That is controlling over your money on what
you can carry to loss. Anyway this really risky, all invesment are
riskyz. Thus we should not put all our money in one basket.

amacar2

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Quote from: Idrisu on November 21, 2016, 01:36:24 AM

I want to double my capital in a month

This is where you are doing mistake. Better look at long term gain rather than quick doubling or tripling investing in some low volume coin which is pumping in 24 hour period. You may end up bag holding shitcoins i have lost around 10x within few hours in this way.

You should have really good knowledge regarding coins you are trying to trade, also you should follow all bitcoin/crypto related news constantly. One pattern is seen almost everytime, like when bitcoin price is pumping short your altcoin holdings like ETH, XMR and FCT but when after pump bitcoin price start to get some correction, start buying alts as within few hours you will see alts going green. Wink

Kotone

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Quote from: Idrisu on November 21, 2016, 01:36:24 AM

I have been trading forex for a while now, one subject in forex trading that I don't want to talk about is money management or risk management. Most time I want to double my capital in a month and because of this I will not follow money management principles. I loss a lot and most at times my entire capital wap out. My question is what is money management?

It's really hard there to double your money i tried forex before and i just lose $100USD with traning program i thought it was really easy in the first place because your mentor is just easy dealing with the altcoins but if you are going to try it i just woah i don't know what do you then after i lose money i never tried to do trading again in forex. I can really manage my money if i had experience before.

Zadicar

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Quote from: Idrisu on November 21, 2016, 01:36:24 AM

I have been trading forex for a while now, one subject in forex trading that I don't want to talk about is money management or risk management. Most time I want to double my capital in a month and because of this I will not follow money management principles. I loss a lot and most at times my entire capital wap out. My question is what is money management?

You could answer it for yourself when you found out whats the cause of such loss. If you ask me, money management is the proper handling of your money which you do actions which lessen the risk of lossing it. Dont be greedy because these thing would really put you down and also you must have patience especially on doing trading forex because its so complex and its not easy to do.

~Bitcoin~

legendary

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Depends upon the size of your total capital ready for trading. If you are have around 10+ bitcoin you can get decent profit 4-5%+ from day trading if you diverse your investment in multiple alts with high volume. Don't think about quickly doubling your capital within few days or weeks. Even if you can earn 20-30% profit in a month, that will be nice than just saving your bitcoin in one address.

Never buy any coin which are pumping high, don't sell being panic when price is getting correction.

Pursuer

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Quote from: Idrisu on November 21, 2016, 01:36:24 AM

I have been trading forex for a while now, one subject in forex trading that I don't want to talk about is money management or risk management. Most time I want to double my capital in a month and because of this I will not follow money management principles. I loss a lot and most at times my entire capital wap out. My question is what is money management?

you don't have to not do money management in order to make more money.
it all comes down to your skills in managing everything from your emotions to money and risks.

if you start taking well thought risks then you start succeeding. a well though risks is something that you do a little research about and see if the reward is bigger than the risks you are taking and also you have to see all the angles, like what could go wrong and what are the chances of that.

and after all this you have to think about exit strategy meaning what you are going to do if something went wrong like price drop.

JeffBrad12

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Quote from: Idrisu on November 21, 2016, 01:36:24 AM

I have been trading forex for a while now, one subject in forex trading that I don't want to talk about is money management or risk management. Most time I want to double my capital in a month and because of this I will not follow money management principles. I loss a lot and most at times my entire capital wap out. My question is what is money management?

Managing your money, input or output. It makes you for controlling yours in or out which means Decreasing the possibilities about will be getting a lot of chance for reach lost in your efforts.

Idrisu

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I have been trading forex for a while now, one subject in forex trading that I don't want to talk about is money management or risk management. Most time I want to double my capital in a month and because of this I will not follow money management principles. I loss a lot and most at times my entire capital wap out. My question is what is money management?

Topic: Money Management Principle in bitcoin and altcoin Trading - page 2. (Read 1460 times)