The advice is easy to understand but it's difficult to implement because we are in crypto trading where the risk is greater than ordinary stock exchange.
Personally I try to think simple , just be the investor by holding in the long term on crypto and it's work for me especially when it already gone almost 4 years !
Topic: This will help to improve your trading - page 6. (Read 21965 times)
I have been trading from 2 years and this are the mistakes I did and I do keep note of that so that I don't repeat those again
I shared my experience (mistakes) so that newbies can know and be aware of this , I have seen many traders just run behind strategies and igonre many important rules which is equally important as strategies
I shared my experience (mistakes) so that newbies can know and be aware of this , I have seen many traders just run behind strategies and igonre many important rules which is equally important as strategies
here are the mistakes i did and the with experience i got answers to my mistakes
When you are aware of sharing your mistakes and the lessons you learned from the experience, why you have not opted for learning from others mistakes ? That is an easy way of gaining experience and also it comes for free of cost and free of frustration. I mean that you do not need to go for committing all the mistake by your own to learn experience but you can learn the same things from others mistakes too. Just go for easier things.You have provided very much useful tips which will be definitely helping many traders here. I wonder how long you have been into trading so that you got chance of make these many mistakes and got time to learn some lessons from them.
You must have been keeping track of your mistakes and for the lessons too. Otherwise it could not be possible for any other trader to remember all these and also unfortunately most of them are not finding time to share the experience with this community. In that way I must need to appreciate you. Keep your good to go up always for the sake of this community.
emotions greed and panic is always bad for trading we have read many rules in books and we did experience those in real trading but this takes time to improve our emotions
Emotions are always enemies for our trading plans. No books will help you to tackle your emotions while trading but only your experience may help you. That is why pro traders always emphasizing about mock-trading. Through experience we can handle our emotions effectively so that we will not take decisions due to emotional failures.i have seen many who dont care about there capital and concentrate only on there trading have good emotion control
It is helpful to the newbie for their improvement. Because newbie needs a lot of information, tips and advice.
Maybe I can use it too someday once I see that I need to improve my skills in trading world. I want to gain more knowledge so that's why I keep reading and searching.
Maybe I can use it too someday once I see that I need to improve my skills in trading world. I want to gain more knowledge so that's why I keep reading and searching.
1. You only won’t think about your money if at first you invested what you can afford to lose. If you
invest big money you will always be worried about losing it.
2. Managing money doesn’t have to do with only when you’re a trader, in everything you’re doing you
have to know how to manage your money properly. If you don’t manage yourself you will go broke.
Lol
3. Thank you for that, we should always be confident. Some analysis you see these days will try to
discourage you, but all you have to do is believe in yourself.
In fact all the tips you’ve given here are really good, including 4, 5, 6, 7, and the rest of them.
invest big money you will always be worried about losing it.
2. Managing money doesn’t have to do with only when you’re a trader, in everything you’re doing you
have to know how to manage your money properly. If you don’t manage yourself you will go broke.
Lol
3. Thank you for that, we should always be confident. Some analysis you see these days will try to
discourage you, but all you have to do is believe in yourself.
In fact all the tips you’ve given here are really good, including 4, 5, 6, 7, and the rest of them.
I agree that these are all common mistakes made by everyone involve in trading. Many newbies in trading will experience this and if they are reading this, these will help them and be served as a warning when they get there in trading their money.
Lol. The funny part is that even if they read it, some of them will still make the mistakes mentioned lol. Experience is always the best teacher. Even when I started I read all these but I still made the mistakes. And by the time I realized everything I have done I felt like it was too late but I still didn’t give up, although I did quit for a short time but I still got back to it. emotions greed and panic is always bad for trading we have read many rules in books and we did experience those in real trading but this takes time to improve our emotions
Emotions are always enemies for our trading plans. No books will help you to tackle your emotions while trading but only your experience may help you. That is why pro traders always emphasizing about mock-trading. Through experience we can handle our emotions effectively so that we will not take decisions due to emotional failures.
Good strategy but holding altcoins for me is not profitable anymore Because all altcoins already drop on their price to its hard to predict if the will go up or down.
Predicting your future must be depending on what kind of altcoins you're holding right now. If you have invested into only highly reputed coins then you do not need to worry about the current downfall nor the entire cryptomarket's fluctuations. You may simply continue to holding your altcoins. If you are holding some shitcoins then no one could help you. It is time to add up more reputed coins into your portfolio from this dumped market as you can easily predict the bright future for those coins.emotions greed and panic is always bad for trading we have read many rules in books and we did experience those in real trading but this takes time to improve our emotions
Emotions are always enemies for our trading plans. No books will help you to tackle your emotions while trading but only your experience may help you. That is why pro traders always emphasizing about mock-trading. Through experience we can handle our emotions effectively so that we will not take decisions due to emotional failures.
I agree that these are all common mistakes made by everyone involve in trading. Many newbies in trading will experience this and if they are reading this, these will help them and be served as a warning when they get there in trading their money.
emotions greed and panic is always bad for trading we have read many rules in books and we did experience those in real trading but this takes time to improve our emotions
I say thank you for reminding me and the other crypto traders, the mistake I often make in trading bitcoin and crypto is when the downtrend occurs, I still have Hodl until the downtrend is finished and that's what I always panicked and confused about what to do, so now I aware, I have to cut it when the downtrend occurs and replant it in another asset.
this points will be definitely helpful in trading if we follow them strictly
hi traders i am sharing my mistakes and experience so that it will help you
here are the mistakes i did and the with experience i got answers to my mistakes
1) dont (care or think) too much about your money while trading this will reduce your confidence and make our decisions to reverse
and put money which you dont need
2) learn about money management (i know you might have heard about this many times , this is a huge topic to explain )
in short
remember trading and investing is a business, you have to risk something to gain something ,
so here is what you can do , risk is in your hand and you dont know how much rewards you will get so all you can do is control your risk , so calculate your risks and then enter trades and wait with patience
at first your goal must be to protect your capital , and then protect your profits , dont risk everything
3) Do not get panic by watching others analysis , remember panic is not good for trading, be confident with your analysis
4) if you have got good profits then keep it as a back up capital , when there are bad days if you lose your capital this back up capital will help you
5) dont trade if markets are too much volatile , no trade is also a trade , relax on that days watch some comedy films
6) dont ever think to recover your losses , or trade against
7) if you have entered trade by calculating risk then dont exit in middle wait for your targets , fluctuations are common
8 ) one of my friend told me this --- to keep track of trades
like why we lost that trade , why that trade reached its target,keep a record of this and just go through this when you are free trust me it will help too much
9) everyday you will not be profitable so set a limit for loss everyday if it is reached than stop trading ( i have lost money before without doing this )
10) If your finger is stuck somewhere, in real life you must think to get your finger out of there , but in trading if your finger(trade) is stuck then you must cut it and get out of that trade, because in trading finger(capital) grows back ( this i learnt by watching psychology videos )
11) I know many of you have heard this points before , but remember until you dont put your personal interest and do trading by following rules nothing will change
and success is not easy we must work-hard to achieve it
12) i am sure if you follow this rules you will see changes in your trading ,
if any experienced traders do have some points that will help traders please highlight it
13)But remember, never put your eggs in one basket, this way even if one of your investments is on a down trend, you can still recover the loss from another investment. This point by (nydiacaskey01)
Whether you care about the money you’re trading with or not depends on if you invested what you can afford to lose. So whenever you want to trade you should go in what you can afford to lose, cause if you go in with you cannot afford at the moment you will have fear in you, and you’re likely to make mistake. So first thing should be to invest and trade with the amount you can afford to lose. here are the mistakes i did and the with experience i got answers to my mistakes
1) dont (care or think) too much about your money while trading this will reduce your confidence and make our decisions to reverse
and put money which you dont need
2) learn about money management (i know you might have heard about this many times , this is a huge topic to explain )
in short
remember trading and investing is a business, you have to risk something to gain something ,
so here is what you can do , risk is in your hand and you dont know how much rewards you will get so all you can do is control your risk , so calculate your risks and then enter trades and wait with patience
at first your goal must be to protect your capital , and then protect your profits , dont risk everything
3) Do not get panic by watching others analysis , remember panic is not good for trading, be confident with your analysis
4) if you have got good profits then keep it as a back up capital , when there are bad days if you lose your capital this back up capital will help you
5) dont trade if markets are too much volatile , no trade is also a trade , relax on that days watch some comedy films
6) dont ever think to recover your losses , or trade against
7) if you have entered trade by calculating risk then dont exit in middle wait for your targets , fluctuations are common
8 ) one of my friend told me this --- to keep track of trades
like why we lost that trade , why that trade reached its target,keep a record of this and just go through this when you are free trust me it will help too much
9) everyday you will not be profitable so set a limit for loss everyday if it is reached than stop trading ( i have lost money before without doing this )
10) If your finger is stuck somewhere, in real life you must think to get your finger out of there , but in trading if your finger(trade) is stuck then you must cut it and get out of that trade, because in trading finger(capital) grows back ( this i learnt by watching psychology videos )
11) I know many of you have heard this points before , but remember until you dont put your personal interest and do trading by following rules nothing will change
and success is not easy we must work-hard to achieve it
12) i am sure if you follow this rules you will see changes in your trading ,
if any experienced traders do have some points that will help traders please highlight it
13)But remember, never put your eggs in one basket, this way even if one of your investments is on a down trend, you can still recover the loss from another investment. This point by (nydiacaskey01)
We should implement those money Management and other rules . But while actuall trading we don't do those and mess everything
money management is the first we have to learn before trading this is what i'm thinking
useful post mate
Useful point you mentioned mate same as you I think that before going to trade one should arrange money that how much he has to trade. Before starting to trade you should spare some money for your daily needs so that at the time of need you will not have to trade your coin at red. Hold and go for long term trading always.useful post mate
if only thinking of long-term trading, it is not trading, it is a holder and of course the profit generated is not too large especially if the assets used are quite small. better daily or weekly scalping, holders without seeing good market and analytical conditions are also dangerous
These are good points the issue is letting your emotion determines your trade also there is the fact of getting rich as quickly and as easy as possible and the truth is most people if not all like that idea of getting quick rich
hi traders i am sharing my mistakes and experience so that it will help you
here are the mistakes i did and the with experience i got answers to my mistakes
1) dont (care or think) too much about your money while trading this will reduce your confidence and make our decisions to reverse
and put money which you dont need
2) learn about money management (i know you might have heard about this many times , this is a huge topic to explain )
in short
remember trading and investing is a business, you have to risk something to gain something ,
so here is what you can do , risk is in your hand and you dont know how much rewards you will get so all you can do is control your risk , so calculate your risks and then enter trades and wait with patience
at first your goal must be to protect your capital , and then protect your profits , dont risk everything
3) Do not get panic by watching others analysis , remember panic is not good for trading, be confident with your analysis
4) if you have got good profits then keep it as a back up capital , when there are bad days if you lose your capital this back up capital will help you
5) dont trade if markets are too much volatile , no trade is also a trade , relax on that days watch some comedy films
6) dont ever think to recover your losses , or trade against
7) if you have entered trade by calculating risk then dont exit in middle wait for your targets , fluctuations are common
8 ) one of my friend told me this --- to keep track of trades
like why we lost that trade , why that trade reached its target,keep a record of this and just go through this when you are free trust me it will help too much
9) everyday you will not be profitable so set a limit for loss everyday if it is reached than stop trading ( i have lost money before without doing this )
10) If your finger is stuck somewhere, in real life you must think to get your finger out of there , but in trading if your finger(trade) is stuck then you must cut it and get out of that trade, because in trading finger(capital) grows back ( this i learnt by watching psychology videos )
11) I know many of you have heard this points before , but remember until you dont put your personal interest and do trading by following rules nothing will change
and success is not easy we must work-hard to achieve it
12) i am sure if you follow this rules you will see changes in your trading ,
if any experienced traders do have some points that will help traders please highlight it
13)But remember, never put your eggs in one basket, this way even if one of your investments is on a down trend, you can still recover the loss from another investment. This point by (nydiacaskey01)
here are the mistakes i did and the with experience i got answers to my mistakes
1) dont (care or think) too much about your money while trading this will reduce your confidence and make our decisions to reverse
and put money which you dont need
2) learn about money management (i know you might have heard about this many times , this is a huge topic to explain )
in short
remember trading and investing is a business, you have to risk something to gain something ,
so here is what you can do , risk is in your hand and you dont know how much rewards you will get so all you can do is control your risk , so calculate your risks and then enter trades and wait with patience
at first your goal must be to protect your capital , and then protect your profits , dont risk everything
3) Do not get panic by watching others analysis , remember panic is not good for trading, be confident with your analysis
4) if you have got good profits then keep it as a back up capital , when there are bad days if you lose your capital this back up capital will help you
5) dont trade if markets are too much volatile , no trade is also a trade , relax on that days watch some comedy films
6) dont ever think to recover your losses , or trade against
7) if you have entered trade by calculating risk then dont exit in middle wait for your targets , fluctuations are common
8 ) one of my friend told me this --- to keep track of trades
like why we lost that trade , why that trade reached its target,keep a record of this and just go through this when you are free trust me it will help too much
9) everyday you will not be profitable so set a limit for loss everyday if it is reached than stop trading ( i have lost money before without doing this )
10) If your finger is stuck somewhere, in real life you must think to get your finger out of there , but in trading if your finger(trade) is stuck then you must cut it and get out of that trade, because in trading finger(capital) grows back ( this i learnt by watching psychology videos )
11) I know many of you have heard this points before , but remember until you dont put your personal interest and do trading by following rules nothing will change
and success is not easy we must work-hard to achieve it
12) i am sure if you follow this rules you will see changes in your trading ,
if any experienced traders do have some points that will help traders please highlight it
13)But remember, never put your eggs in one basket, this way even if one of your investments is on a down trend, you can still recover the loss from another investment. This point by (nydiacaskey01)
Perhaps, this was all your experienced when you do the actual trade in every exchange site.
This might be a good additional knowledge for the novice even the old member's here to who are not yet well good in terms of
making profit in trading. Meaning, more experience is an advantage for us to earn here big profit in the end.
This is mostly common sense trading tips but that doesn't detract from the usefulness. Any trader needs to be mindful of all of these things and more at all times.
For new traders following this advice won't mean they'll be successful, for that they'll need a lot more skill and knowledge of the markets. But it will help limit their losses or maximize their profits and that's why it's worthwhile advice for all to follow.
Well what matters the most is the mindset. There are people who are very good advisers but they have no history of profits in the crypto. It is also about the risk taking trait that helps make money.For new traders following this advice won't mean they'll be successful, for that they'll need a lot more skill and knowledge of the markets. But it will help limit their losses or maximize their profits and that's why it's worthwhile advice for all to follow.
I don't know if I agree with that, I wouldn't trust taking advice from someone who has not been in the same situation before. It's easy to look from the outside and say what should be done (anyone who's ever given relationship advice can attest to this) but when you're in that situation there is so much more at play and it's never black and white.
Thank you for the tips you gave to us! It will benefit me in trading as well as other also. From the principle of trading we saw in this thread, we should apply them for the sake of everyone. Imagine, if we apply those tips that OP told to us. We will avoid those unnecessary loss in cryptocurrency trading. Thanks for sharing us.
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