Topic: Some good rules for trading ask newbies. (Read 96 times)
Wow, this will serve as guidelines to some newbies who will want to trade the market. The market is very competitive and one will need to have full and concrete knowledge about the market before we have to trade the market. The market is volatile and trading it will need a lot of knowledge so we can keep benefiting from the market and earn big. It is very important for us to trade the market will the money we know we can afford than borrowing money as a newbie trader and entering the market will a guideline from pro trader that can help us position our trades.
Good Advice
Especially bout the number 1 only trade with cold Money meaning trade with money that you can afford to lose. and the one important things
is to control the emotion don't be greed know how to take profit and know how to stop loss
Especially bout the number 1 only trade with cold Money meaning trade with money that you can afford to lose. and the one important things
is to control the emotion don't be greed know how to take profit and know how to stop loss
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7- Don't follow the crowd
As you say don't always follow the crowd but no doubt always follow the trend if you don't follow the trend you will always be at a loss.Going with the trade is the best strategy in trading. If the trend is going up then you go with the trade. If the trend is going down and you don't go with the trend you will always lose.because trend is your friend.
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5- Block out other announcements
Sometimes you have to keep yourself aware of the surrounding situation as there is a lot of news coming in the market which affects your trading a lot.In trading, should always keep an eye on what is happening in the news, national and global level, a single tweet or a single piece of news from somewhere can shake up the market.
I would say I agree with almost everything of you’re advice, most especially number 9. One has to separate his emotions of always earning profit from trading. Every traders aim is to make profit but once you highlight it out that every day isn’t for earning it you tend to be comfortable trading rather than jumping from coins in search of profit.
It is also important to sometimes follow the crowd because part of the research technique for cryptocurrency is to check the community strength but blind following the crowd mostly social media hypes is risky
It is also important to sometimes follow the crowd because part of the research technique for cryptocurrency is to check the community strength but blind following the crowd mostly social media hypes is risky
1- Use the money you can afford to misplace
You can misplace money and got the money back if you see where you put it. Use the money you can afford to lose is better. 3- Don't over perpetrate
What did you mean as perpetrate? This is trading, not concerning anything harmful or illegal.Sometimes this is a good option but at most times, this isn't really going well. I guess there's a better thing for following the crowd so, don't follow crowds blindly.
If you make analysis and if that is the direction the crowd are going, that does not mean you are following the crowd, it means you still follow your analysis.
Newbies will just likely read those but how can they even understand those if they don't feel the actual pressure while doing trading?
For me, just let them know the basic approach and allow them to feel to themselves the intense feeling while trading.
With those experienced they will encounter, it will be automatic already for them to know things that they should do or not.
For me, just let them know the basic approach and allow them to feel to themselves the intense feeling while trading.
With those experienced they will encounter, it will be automatic already for them to know things that they should do or not.
Those are good advice. DYOR, don't forget about that. It all ends up with being researchful with the trades that you're about to trade.
Because if you do, you're bound to losses just as what the others have been doing as they invest blindly.
The thing about going with the crowd, you get as much information as you get but the downside of it, you're prone in shilling and greedy by how they encourage everyone to hold this and buy this and that.
7- Don't follow the crowd
Sometimes this is a good option but at most times, this isn't really going well. I guess there's a better thing for following the crowd so, don't follow crowds blindly. Because if you do, you're bound to losses just as what the others have been doing as they invest blindly.
The thing about going with the crowd, you get as much information as you get but the downside of it, you're prone in shilling and greedy by how they encourage everyone to hold this and buy this and that.
1- Use the money you can afford to misplace
2- constantly start small as a rookie:
3- Don't over perpetrate
4 - Yield a trading relaxation
5- Block out other announcements
6- When you are not convinced, be placed aside.
7- Don't follow the crowd
8- Don't form new beliefs during trading hours
9- Isolate your trading from your craving for earnings and all that
10- Always no yourself
One more specialty never trade because of love for finances for that in a speck you misplace all in no time
As a trader legend to it, all is your sensation, constantly running away from it I know as a human being it can be difficult but try to calculate it out.
2- constantly start small as a rookie:
3- Don't over perpetrate
4 - Yield a trading relaxation
5- Block out other announcements
6- When you are not convinced, be placed aside.
7- Don't follow the crowd
8- Don't form new beliefs during trading hours
9- Isolate your trading from your craving for earnings and all that
10- Always no yourself
One more specialty never trade because of love for finances for that in a speck you misplace all in no time
As a trader legend to it, all is your sensation, constantly running away from it I know as a human being it can be difficult but try to calculate it out.
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