You’re doing good to test the water first before trading with Big money, the faster way to learn is to experience it.
Following the advice of you friend can still be ok at your early stage, as long as you still analyze his advices then you can be good. Know that trading is very risky regardless of your approach, so stay focus and continue to learn, this is a long journey and don’t expect profit right away because you’re still on the learning phase.
Topic: Started testing the waters in futures trading - page 2. (Read 154 times)
I remember early days when bitmex started and they had a demo and I used it a bit, and I have to say it wasn't as good as I imagined it would be and it was a bad result for me generally speaking. On the other hand I tried the real thing as well for a while, with very small amounts like 100 bucks of course, but the results weren't as bad as the test, and yet it ended with bad result because of my bad management. I could have profited from it if I was more careful but I seen that investment as just a test and that is mostly the reason. I would say its really not an easy way to make money and not my cup of tea.
Futures is very risky and its good to have someone who can guide you while you are still learning the process. Just continue to learn and time will come that you can have your own strategy in trading, just make sure to set up your cut loss price and your target price so you won’t get liquidated. Technical analysis are important in trading, focus on this as well because trading is very tricky, don’t put too much emotion as well to avoid any bad decisions.
Instead of you testing how to trade futures with trading signals, why don't you learn how to do your analysis yourself and test your trading skills, since your friend is giving you signals, I think it will be better if you just ask him to teach you how you can learn about technical analysis. You are trading with just little amounts currently, will you still be depending on your friend for signal when you deposit huge amount of money and you want to start trading, I don't think you should trust anyone with your money, the best thing is to learn how to trade yourself.
Whether I take profit or got liquidated, it's worth the experience. But for now, I am not yet ready to go big on my trading capital because I need to be emotionally ready especially when things are going southward.
rather than making yourself on testing on futures which i do consider on very risky move to be made specially when you are just starting up.I could say because i have done on the same path too but since leverage is really way too big then it could really make your emotions been mainly played for this particular time unlike when you do spot which you wouldnt mind on being liquidated since you could be able to hold your
position for too long if in case the price hadnt go on what you are expecting.
Whether I take profit or got liquidated, it's worth the experience. But for now, I am not yet ready to go big on my trading capital because I need to be emotionally ready especially when things are going southward.
Each time you open a trade, put a stoploss few dollars about your liquidation price because liquidation is much more expensive than regular position close. It will save you a lot in a long run. Especially if you trade with high leverage.
Remember that even if you are successful for weeks, does not mean you are good at trading and can go crazy with big bets. Some strategies works until market change its dynamic which can happened after weeks/months. I know people that double/tripled portfolio in few months just to go bust right after.
Futures trading is one of the things I dread the most when it comes to trading. If I'm not holding, the spot is risk-free compared to the futures, where you can lose a lot of money, but you gain experience when you lose money because one important fact about trading is that you will undoubtedly lose money, but I'll choose either spot or hold personally. it really difficult to what will happen next in the market.
What can you say about your friend's signal? Is that really working and helped you a lot or it's just the same as guessing a trade because it's inaccurate?
Well, first, congratulations for trying it out. I've got no balls in doing it again because I don't want to experience the same burn that I've taken when I did it before.
Just as what they say, you've get to learn more about analysis like TA, fundamental and the other strategy.
Well, first, congratulations for trying it out. I've got no balls in doing it again because I don't want to experience the same burn that I've taken when I did it before.
Just as what they say, you've get to learn more about analysis like TA, fundamental and the other strategy.
I also suggest to my friend to test the market through futures trading. I told him he could get into the bitcoin market right now with less than $1 while studying bitcoin movements and he finally gave it a go with $22 and less than $1 to buy.
I advised him to enter during yesterday's correction and got his buy price at $22.7xx and when it dropped further down, he decided to buy again, which made his entry buy price lower than his previous entry buy price.
And if you want to be able to trade well, you have to learn about market analysis to enter the market when the market is being corrected.
I advised him to enter during yesterday's correction and got his buy price at $22.7xx and when it dropped further down, he decided to buy again, which made his entry buy price lower than his previous entry buy price.
And if you want to be able to trade well, you have to learn about market analysis to enter the market when the market is being corrected.
My good friend from Poland who is now based in Cebu, has his own trading signal. So he told me to give a try for now even with small amounts only.
Learn trading yourself. If not because you have good risk management, trading signals would possibly have failed you. Trading signals are scam. But be very careful and I can recommend you averaging, or just use low amount of money to trade because trading is very risky.
After being hesitant for years, I finally got out of my comfort zone and started testing the waters in futures trading. I had to admit though. I don't have any TA skills yet to make my own decisions.
My good friend from Poland who is now based in Cebu, has his own trading signal. So he told me to give a try for now even with small amounts only.
I'm fully aware of the risks though because it's much more riskier than the traditional spot trading. As of now, I got a bunch of wins and losses in my trades where most of the declarations are long due to the mini bull run that we are experiencing as of today.
I am not expecting much results whether wins or losses, because I am still testing the waters. But still it's better for me to have a better understanding of the chart so that I could make my own decisions on the target amounts of a specific pairing to take profit and stop loss.
Whether I take profit or got liquidated, it's worth the experience. But for now, I am not yet ready to go big on my trading capital because I need to be emotionally ready especially when things are going southward.
My good friend from Poland who is now based in Cebu, has his own trading signal. So he told me to give a try for now even with small amounts only.
I'm fully aware of the risks though because it's much more riskier than the traditional spot trading. As of now, I got a bunch of wins and losses in my trades where most of the declarations are long due to the mini bull run that we are experiencing as of today.
I am not expecting much results whether wins or losses, because I am still testing the waters. But still it's better for me to have a better understanding of the chart so that I could make my own decisions on the target amounts of a specific pairing to take profit and stop loss.
Whether I take profit or got liquidated, it's worth the experience. But for now, I am not yet ready to go big on my trading capital because I need to be emotionally ready especially when things are going southward.
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