Topic: The magic of Money management - page 2. (Read 1152 times)
Money management is one of the best thing that everybody should learned because that will become the key for them to succeed in life because if you know how to manage your money then you already know what to do for your future earnings and so on and so forth. Money is the most important thing in this world so we should master budgeting it.
Managing your money is an important part of life, and bitcoin teaches many people this idea of money management and many people do follow this. The more careful you are with spending your bitcoin, the more profit your will earn.
Every experienced trader will say the money management in trading is the important thing to keep your account alive and for my experience in trading I lose many accounts die first to bad money management and second for greed and getting more and more money, after all this bad experiences and when I keep money management in my eyes now I get my money adjusted with my capital and I required for every trader to give the most important attention for money management.
The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
All of those rules that you have been written are all correct. Managing your money is a the key to be able for you earn big profit. But the best rule in money mange is your experience, because in that experience you can learn all the important rule to make you succesful in life. The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
I actually like the idea of your time management and it could help new traders as well to know how they will divide their time also while in trading. My experience in time management is the same as your but I always set some time for learning and reading about trading in a week, set also goals because trading is risky and mostly you would want to look at your coins everyday.
Every experienced trader will say the money management in trading is the important thing to keep your account alive and for my experience in trading I lose many accounts die first to bad money management and second for greed and getting more and more money, after all this bad experiences and when I keep money management in my eyes now I get my money adjusted with my capital and I required for every trader to give the most important attention for money management.
The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
Money management if you settled your mind to pursue your goal this will be work if we follow some rules how to manage our life in money .Setting your goals and save your money in the future this will be added in your rules.It is very important to achieve your successful in trading. The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
Every experienced trader will say the money management in trading is the important thing to keep your account alive and for my experience in trading I lose many accounts die first to bad money management and second for greed and getting more and more money, after all this bad experiences and when I keep money management in my eyes now I get my money adjusted with my capital and I required for every trader to give the most important attention for money management.
The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
Thanks to that very detailed points on money management specifically when it comes to trading mate. I'm not yet into trading but i strongly agree on those points because those are almost the same with money management in our daily lives. These are my tips /points on money management:
1. Set your goals or set a budget - this is to help you identify your needs and wants. Moreover, this is to help you limit the spending portion.
2. Save - secure a certain amount which willl be used later in in case of emergency
3. Invest -Make sure first that you do research before investing. Set aside a certain amount of money for investments. This is on top of the basic expenses and savings. There is always a risk in investment so it safe on your part to allocate an budget intended for the investments. Then if you already have a profit, secure or save your capital investment and let your profit roll in your investment.
the things you have described are so good and can be a benchmark for the new traders, money management is the most important thing and it will help you in managing money to profit from trading, in trading you should be able to manage the emotions in trading, because prices are changing fast, if you are consumed with emotion and want to profit without thinking about the risks that will be generated, it could be a loss for yourself, as we know how the market price goes with a very volatile, before you want to buy better you see the charts and market movements, and try to buy at the lowest price
Money management did helped me a lot on how I'm going to settle with finances. In trading you have to prioritize profit, you don't have to wait too long and be patient if you can immediately pull out while there's a profit. But if you are not too confident with your emotion and you don't want to settle by selling immediately some of your alt coins just manage it properly. Take time to read daily charts and don't forget to learn from your mistakes.
In the trade I always do stop loss and secure the profit to be saved.
I never believed in financial management, and I tend to be wasteful and can not save.
I give my wife full trust, I am sure she is better able to arrange financial management.
I never believed in financial management, and I tend to be wasteful and can not save.
I give my wife full trust, I am sure she is better able to arrange financial management.
It is really nice to set a rules in terms of money for management of it. This is money, one of the basic and primary need of the human kind and if you fail to do so you will end up with no money or less. Self-discipline, Awareness and Knowledge will bring you to a good profit with a good plan of management list for monetary, plus management in the digital coin will give you a boost to a good profit because of the sudden increase of it. always remember to not depend always in money, because it can't buy anything.
Every experienced trader will say the money management in trading is the important thing to keep your account alive and for my experience in trading I lose many accounts die first to bad money management and second for greed and getting more and more money, after all this bad experiences and when I keep money management in my eyes now I get my money adjusted with my capital and I required for every trader to give the most important attention for money management.
The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
Every job sometimes will feel the failure. and that's what I know.The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
I am very happy to hear this, your experience is amazing to me.
I am a new person in bitcoin world. even for trading I have never been. the tips on success you share are helpful for me to learn more about bitcoin world.
if possible do not mind if you share more impressive experiences?
i loves your tips how to 'protect profits', somehow we on situation to put money all in game or spare of it.
If we want to get the magic from the money then bitcoin investment is the answer, for example is today the price reaches more than $ 6000 so that all bitcoin users get $ 1000 profit in just a week, this is magic.
Every experienced trader will say the money management in trading is the important thing to keep your account alive and for my experience in trading I lose many accounts die first to bad money management and second for greed and getting more and more money, after all this bad experiences and when I keep money management in my eyes now I get my money adjusted with my capital and I required for every trader to give the most important attention for money management.
The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
Nice money management tips. In addition, established your entry and exit points. And of course our emotions. Used our brain not our heart in making the decision to sell or just hold. Most of us here made a lot of mistakes during our endeavor with trading. Some lost interest, some continue and learn from their mistakes. This mistakes really made us to be successful in trading. And for those who have lost interest, if you have to analyze they don't have that mindset to focus and the rules of money management you have put up above. They can go there without any idea, and then when they lose their money its time to hang up the gloves. I hope newbies will learn from your tips and enjoy trading.
Every experienced trader will say the money management in trading is the important thing to keep your account alive and for my experience in trading I lose many accounts die first to bad money management and second for greed and getting more and more money, after all this bad experiences and when I keep money management in my eyes now I get my money adjusted with my capital and I required for every trader to give the most important attention for money management.
The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
I think it is a list of really good rules that you can follow. However, not easy to implement it, these rules require us to have discipline and high self-awareness. We need to be serious about ourselves if we want to achieve our goal.The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
Yes, and discipline is essential for every individual or business to succeed, so I think this list is enough for all of us to be able to manage ourselves and money.
Every experienced trader will say the money management in trading is the important thing to keep your account alive and for my experience in trading I lose many accounts die first to bad money management and second for greed and getting more and more money, after all this bad experiences and when I keep money management in my eyes now I get my money adjusted with my capital and I required for every trader to give the most important attention for money management.
The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
I think it is a list of really good rules that you can follow. However, not easy to implement it, these rules require us to have discipline and high self-awareness. We need to be serious about ourselves if we want to achieve our goal. The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
Every experienced trader will say the money management in trading is the important thing to keep your account alive and for my experience in trading I lose many accounts die first to bad money management and second for greed and getting more and more money, after all this bad experiences and when I keep money management in my eyes now I get my money adjusted with my capital and I required for every trader to give the most important attention for money management.
The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
Every job sometimes will feel the failure. and that's what I know.The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
I am very happy to hear this, your experience is amazing to me.
I am a new person in bitcoin world. even for trading I have never been. the tips on success you share are helpful for me to learn more about bitcoin world.
if possible do not mind if you share more impressive experiences?
Every experienced trader will say the money management in trading is the important thing to keep your account alive and for my experience in trading I lose many accounts die first to bad money management and second for greed and getting more and more money, after all this bad experiences and when I keep money management in my eyes now I get my money adjusted with my capital and I required for every trader to give the most important attention for money management.
The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
For me, the major part of money management is:
1) Pull out of assets if it's needed for real life. It doesn't matter if the asset is promising. If something is needed for real life and to take care of yourself, get it out.
2) Don't test your luck. If you told yourself that you would withdraw when you reach a certain point, make sure you go through with it. You don't know what will happen tomorrow; it's possible that something could drop significantly.
Every experienced trader will say the money management in trading is the important thing to keep your account alive and for my experience in trading I lose many accounts die first to bad money management and second for greed and getting more and more money, after all this bad experiences and when I keep money management in my eyes now I get my money adjusted with my capital and I required for every trader to give the most important attention for money management.
The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
Yes all you have mention is very important and ideas how to manage your money, spent wisely don't waist your money for nonsense thing. Last number you mention trade with investment capital, not grocery money. Maybe you spend some with grocery that's our basic daily needs and the rest is for investing capital. In spending money be wisely for you want much better to save and invest your money to grown up.The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
The magic of money management is liberating. Once you're able to keep putting money aside to save BTC, it is the best feeling when you see the price continue to increase which matches your beliefs.
Every experienced trader will say the money management in trading is the important thing to keep your account alive and for my experience in trading I lose many accounts die first to bad money management and second for greed and getting more and more money, after all this bad experiences and when I keep money management in my eyes now I get my money adjusted with my capital and I required for every trader to give the most important attention for money management.
The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
The rules for money management for me:
1. Make goals that could actually be achieved with your skill level
2. Always trade with a stop loss
3. Never over trade your account
4. Trust your indicators
5. Always protect profits
6. Trade with investment capital, not grocery money
and for you what is your experience with money management ?
When I started trading, I have the worst money management because I tend to get greedy when I see that the trade is going the right way and I only put a small amount so without even studying the charts, I would go all in so that I can have bigger profits even if the price is already high and it seems that a reversal is approaching but then I already bought it so instead of having profits in that particular trade, I end up with a loss because of greediness and it didn't happen only once because I experience it many times so I need to control my emotions when trading because I already lose a lot because of it.
One mistake also is that I am holding on to a particular coin even if the loss is already half of the total amount I bought it because I didn't have a stop loss. When I am already in profits, I refuse to take it hoping to have more and then price suddenly drops and end up with a loss. I am slowly learning with my mistakes and I am slowly gaining because of the rules as what you stated OP.
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