Topic: Safety first before trading - page 3. (Read 1049 times)

Yes, of course, safety before trading and before anything else, it is very important before you start trading that you know where to place your Coins and is this exchange or wallet safe or not, there are many things that you have to do such as choosing an exchange or a safe wallet to store your Coins, as well as dividing Your Coins are on more than one exchange and more than one wallet so that you do not lose them all in case something happens.
Of course, exchanges in general are not safe because they can be Hacked. They can also seize your Coins for unknown reason or ask you to verify KYC or ban your country. The best thing is the hardware wallet and then the app wallets.

There is nothing wrong in being cautious in trading, so we could avoid getting scam and getting low amount of profits. That is why people intends to learn and understand trading first and how the market charts works before they engage in trading, so it would be easy for them to make analysis and make a successful trade.

I think there's a lot of free courses online, you just have to filter out everything. It's better to stick to one though, so that it won't make you confuse because of all the information that you are going to digest.

And when you feel confident with your learnings, then you can go out and play, it might cost you some money, but at least you try to apply everything and it takes a lot of practice to master it. Tons of hours are to be spend to gain that experience to go to the next level and be a successful trader.

There should be some sort of free course that teaches people the main things in the trading world, all the chart readings all the indicators all the basic information about trading that people talk about.

It doesn't mean you have to use them to trade, you can ignore all of that but learning about those basic things would allow you to be a bit better, right now there is really not that many places that teaches you everything beautifully for free, there are ones who suck or there are ones that cost a lot of money, and there are even ones who suck and still cost money as well, there should be some crypto supported and donated place that teaches everything from the very top experts of the topic, which should also be with amazing design and so forth on the video to explain the newbies easily so that they are not confused.

Usually this kind of articles cover just a little part of the entire story behind something. Probably because they know that people don't read too long articles, at least majority just see the headline and highlight parts. Today's journalist are making sensational headlines from day to day, rarely I find some good articles that deserve attention.
Be safe when you are trying something new, not just trading, not just in crypto, you need to learn how to prepare the field and plan your steps, how to minimise the potential risks. Everything connected with money, investing, spending, require attention, more attention before the jump means better preparation, and its how you keep yourself safe.

Nice article share. Beside four things on that article, in the trading activity we must also have money management.
Successfull trader is who have and obey the good money management.

safety is necessary for everything not only in trading!!
One important tip to do is that you should do study a lot before deciding to do a real time trades. You have to take a look at the coin's Market Cap. It indicates and represents the size of the company and how well the coin is doing with the market. However, checking the addresses and your wallet is a must to avoid sending money to wrong address.

This is good link that you shared actually. Yes, every trader must know these four things deeply so that they can gainer in trading. Actually those who believe in easy trading they are in fools paradise because in trading every single point is important so to understand these points trader must read more and more and at the same time practical experience also need. Those who connect both of it can be successful trader day by day.

thanks.

It is really in need and a must thing to do to have some precautionary measures to be done before engaging into something that was just certainly new for you most specially for the newbies that have just got their way into getting in this industry and wanted to try doing trading. First and foremost, before doing any trading or investment engagement, you must learn the basics or needed knowledge you must know to better understand the risks associated on the type of work you wish to enter. Doing research and readings through internet as well in this forum would be a great help for there are lots of members that can respond into any inquiries being raised by any member that will surely help you along with the process of learning before you get into starting your own trade.

If you do really want to excel and last longer in this industry specially on doing trades and investments, you must take it slow on learning the basics and do not rush too hard for it might just lead you to failure which you might regret in the future. Trading is a serious matter to be taken for the sake of your money is at stake if it would become profitable or not depending on the attitude you will exert. Knowledge and experience is a key concept you must have to be able to succeed in this type of work so do not rush, just go with the process.

The main key in order to have successful trading journey is passion and commitment. When I say passion, it means that you are doing something that you really love with hardwork. I have passion in trading because I love it, it is not just about money; it is about happiness when I'm doing it. Be also committed in terms of learning and studying new information. We should open to the new concepts and knowledge that we can use. Trading is not about luck, it requires foundation and we can build that foundation if we will stay committed and have burning desire to become successful in our trading journey.

For those beginners in trading, forget about the money and focus on learning. What I said is really true because if you focus on earning than studying first, the possibility of capital wipeout is huge. You can focus on earning if you have now basic concepts and foundation especially in terms of technical analysis.

No matter what our life is parallel, we have to conserve our own safety. The consequence of trading is also contained in safety because of course, we'll trade in the urge of profit. In the case of loss, it is not apparent to say when this reimbursement will be disbursed. So whatever we have to do, we have to do it very deliberately. Even then, there are many casualties, in which case I think that our own negligence, the strategy was improper or luck was not favorable.

You need more than luck to succeed in affiliate business there will be risk wherever you trade. You have to use your intellect and apply knowledge to provide protection. You have to analyze the trading signals well so that you can understand the value of the currency.Bitcoin is the safest way to invest in business it is possible to trade without risk. There is no fear of being scammed. But before that you have to learn about the market by reviewing different sites.

He just made another thread about this even if it is already discussed before.

This is a common topic in Trading discussion and you can also found a similar topic like this in "Beginners & Help". But we are already here, always be aware about storing and transferring of your coin based on the relevance of your transactions. If you are ready to make transactions then that's the only time that you will transfer your asset into an exchange that you are going to use.

In trading, you should not be greedy, you shouldn't make decision that you didn't think about for so many times.
Always used a reliable and efficient wallet where you are comfortable to store your money with.

Wherever you depart to work with the first gadget to think about your own safety then you have to go ahead. So you should work with your orifices and ears sunken while trading. Or there is a possibility of being deceived and at the equivalent duration, you possess to relinquish everything.
In other words, think and act, don't think after accomplishing.

Are we going to focus on safety of our assets at the hands of someone else, or are we talking about safety in trading. Because, they are very totally different two things.

One of them requires you to find a place that is great at security and have awesome prevention systems and barely can ever get hacked but even if that happens somehow manage to bounce back, I always give binance as an example because they have over a billion dollars on their system and that means there must be thousands of people trying to get a piece and as far as I remember they were only hacked just once and managed to return from that.

But, safety during trading could have a million different ways and stop loss is just only one part of it, that topic is a long list of things that you should do.

It is really essential to know the strategies and safety before engaging in trading, most especially when you know that the market is not that stable and many people are having conflict in trading when they don't execute their strategy properly. That's why always think of your safety first before your assets, as it will bring you less loss in your money. Sometimes you just need a discipline and patient in order for you to become more effective in trading.

In exchange you need to have a good decision making and critical thinking skills so that you can manually manipulate your assets, sometimes you just need to find and become comfortable on the exchanges that is suitable for your preferred features. You don't need a perfect exchange, if you're good at managing your coins to prevent loss, then that's enough. Volume of people is also a factor so that you know that the exchange is somehow legit and have a lot of customers.

Patience is one of the most key factors in trading and it is very important in every sort of trading whether it is long term or short term. Within days it is impossible for the person to learn skills, trading is completely long way journey which will take a lot of time to analyze. In another way, we have to learn the basic knowledge of the coin which we are going to buy (Fundamental analysis).

In order to be safe in trading, you need to have a decent knowledge on how to trade safely or low risk trading. It cannot be achieve easily as you need to gather the resources that you really need like tools and etc. in order to avoid any fatal mistakes that will cause you trouble like losing your money.

Searching and studying are the basics while experience is an advance knowledge that can be learned differently so if you are a wise person who wants to start a journey in trading then my little advise is take your time in learning the basics, gather the useful resource and lastly be patient and don't be greedy.

I agree with you that all of us should adopt these strategies before trading There are risks before doing business Always try to avoid this risk Now is a good time to understand the market from sitting in the home quarantine Before trading we need to look at the coins well It is easier to make a profit if one is likely to increase the price and which one is investing more in a reliable market.

Volume is a good indicator but all traders who opt low volume coins not necessarily need to book losses because low volume coins are good for manipulations and people with considering vast capitals easily pumps those coins and book profits just before all others do. This way of manipulations are now a days takes places by group of small traders by informing each other through telegram/discord channels.

Unfortunately hackers innovative themselves in rapid manners which makes all of us suffer in a new way one day or other. There isn't any simple solutions available against changing things other than sticking with basic security measurements like, for example, not clicking random links and not holding funds within exchanges as a crypto adopter/trader and an exchange must update their firewall system more frequently.

But hackers are easily tracking with the help of blockchain and posts on this forum still this is not a big thread as long as hackers start using quantum computing .