Topic: [Take advantage of crypto volatility] bear or bull market - page 3. (Read 591 times)

1 & 2 are a regular MUST for those who want to be profitable traders. Sometimes we want to argue the significance of SL and think it's not that necessary because we're scared of encountering losses. Only if we knew that loss is a part of the game. Without loss, every Tom Dick and Harry will call themselves traders. So, SL helps separate the boys from the men. No matter how clever anyone wants to think of themselves, they shouldn't neglect SL. It gives rest of mind, knowing your loss won't surpass where you want it if things went wrong.

I never personally liked futures trading since I consider it riskier than regular trading specially in a very unpredictable market called cryptocurrency market where you can see pump and dumps at any moment with any size. Which is why I prefer regular trading; a pump is risky too but it can give you more profit than futures with less risk and it is easier to get in an out of it while the pump is taking place.

You should have also emphasized on the ugly side of trading too. When a newbie reads you story, they might think trading is as easy as A, B, C and D. You may have made those attractive looking profits but through hurdles of losses

So much as we should take advantage of volatility, we should also have it in mind that it can take advantage us and blow away our accounts if proper risk management is not done.

As we may have known, bull market is a market that is on the rise and where the conditions of the economy are generally favorable. A bear market exists in an economy that is receding and where most stocks are declining in value (https://www.investopedia.com/insights/digging-deeper-bull-and-bear-markets/)
I was learning how to trade the forex market back in 2019 while I used a broker called IQ option to practice in the demo section, after 2 months I felt I have learnt enough so I decided to put-in real money, so I invested $150 and after two weeks time I earned about $400. Later in 3 weeks time I lost all my earnings including my capital. I tried a different broker called Binary trade, funded the account with $200 and within a month and 2 weeks, I made about $1300, opted out because of series of losses and i starting a business.
later around last year (2021) I studied the future trading option on the binance exchange, and around November during the Bull" market, I was enter  future trading on the binance exchange with BTC/USDT. I invested $1000 and I was able to make $2800, some might say it was a little profit 😹 but what matters was that there was $1800 profit added onto my capital. (I took advantage over the bull market).
  this year (2022) in the month of May,  I invested $500 on Binance future trading and traded Luna/usdt and could make $1400. I took advantage of the market volatility.
crypto future trading enables traders take advantage over bear or bull market and they could be earning profits (either big or small).
 apart from the volatility of Bitcoin and Ethereum, there more Altcoins to trade on binance future that can yield profit.

Things to Note:
  1. Always apply your stop loss and take profit option
 2. Do not trade with emotions
 3. Have a good source for signal or information about the crypto your trading.
 4. It good to know that your asset can be liquidated when the leverage is high resulting to total loss of funds.

 When trading futures assets, one must be prepared to encounter losses as well as profit but it's advice to stay clear if you can't manage your risk.