Topic: Tips for good trading - page 3. (Read 3480 times)

I think they will come to their senses when they feel the loss due to their mistakes,
we know that many people have shared stories or given advice not to do it all,
but in the end there will always be people who repeat mistakes like that

That's a mistake that has been happening and those that have done it don't do it again. But the newbies are the ones that have the urge and courage of doing it.
I've never done this thing because I know that it's not going to have a good ending. Mistakes such as borrowing for trading and even gambling will never get old.
Because time and time again, there will be those that will not listen to the mistakes of other people that chose to do this and resulting to have a bad outcome.

Try not to borrow and invest as this will certainly urge to either close off the trade in loss and pay back the borrowed money. And always hold a part of your investment amount to average the loss. When you see you are in loss, buy back the same coin at low cast. This will balance the loss and you might have a chance to either close off the trade with a minimal gain or without loss. Patience is the other key to succeed in trading. 

In any case, you should understand that a demo account is a rather important experience and you should pay attention to it. Otherwise, the results can be a little disappointing, and that's not the worst.

Working with demo account means someone is a newbie. What I also see as a demo account is just that it is not real, I mean not dealing with real money, but can be helpful though. Besides, this is a crypto forum and we deal more with exchanges, most exchanges do not have demo account and the demo account experience may not worth it at times as you do not trade with real money. I have preferred to use small amount of money to begin trading for practice when I started trading some years back.

Working with demo account means someone is a newbie. What I also see as a demo account is just that it is not real, I mean not dealing with real money, but can be helpful though. Besides, this is a crypto forum and we deal more with exchanges, most exchanges do not have demo account and the demo account experience may not worth it at times as you do not trade with real money. I have preferred to use small amount of money to begin trading for practice when I started trading some years back.

The main thing to understand is that the results of a trader's work most often depend on experience. It is for this reason that when I started working with a broker from AMarkets, I tried to devote enough time to working on a demo account.

I have seen many questions about how they are going to be a professional trader, so I just wanna share my experience, I am not a professional trader but I just wanna share some of my experiences and way of thinking in trading.

1. Trade at your own risk - You should know that investing, gambling and trading is somehow the same because you are not sure that you could win the prize, so expect that you could win and you could lose your money.
2. Limit your budget - always limit your budget for trading, you should use only those extra money you have, instead of spending it on some other things, you may use it for trading, at least you made something to make it profitable.
3. Do not be greedy - There are many people who suffered from being greedy, they tend to spend all their money because of thinking that they could still make more money but instead of earning they have lost their money. ALWAYS KNOW WHEN TO STOP AND CONTINUE TO TRADE.
4. Learn from your own mistake - Instead of being sad because of losing try to think on some other thing why you get lost and think some good strategies to overcome those mistakes.

Some good tips from google:
5. Check the ticker symbol - Ticker symbols are not universal and may vary from exchange to exchange in rare cases. Those cases, though, can come back to bite you. For example, Bitcoin Cash trades on some exchanges as BCH, while it trades on others as BCC. BCC is also the ticker symbol for BitConnect, which was recently outed as a Ponzi Scheme. If you bought BCC under the impression was Bitcoin Cash, you would’ve lost a lot of money.
6. Pay attention to the bitcoin - Most altcoins (every cryptocurrency except Bitcoin) are pegged more closely to Bitcoin than Asian currencies were to the USD during the Asian Financial Crisis. If Bitcoin price pump drastically, altcoins price can go down as people try to exit altcoins to ride the BTC profits; inversely, if Bitcoin prices dump drastically, altcoin prices can go down, too, as people exit altcoins to exchange back into fiat. The best times for altcoin growth appear when Bitcoin shows organic growth or decline or remains stagnant in price.

Trading is really profitable ways of earning money and having skills and knowledge about it would be a great advantage for you.

You know that learning never ends so we need to read and learn more everyday so we can get aquatinted with trading and get to know more about how the market behaves. The market can change pattern anytime so we need to be learning new things everyday so we can always equip ourselves with the latest information that can help us to get the best out of the market.

First of all, I would advise you to pay attention to training. At least when I started working with a broker from AMarkets, I actually used a demo account to get enough experience.

it's very easy to have a good trading tip or plan, maybe for beginners it's better to play or buy coins when Bitcoin is down this is one that is very easy to learn, but if you want to be more reliable in choosing coins, then you have to learn to understand market news and good analysis

We can copy an existing plan or strategy for others and we can just do a modification based on our own taste or preference but I think you are right that it's always better to create our original plan from scratch. This can make us a better trader than relying partially on the plan of others.

Being greedy is not right but I think being greedy is the only way to make loads of profits but that is if they are also lucky however if they made a profit, chances are is that they can still use all of this money to make more money because they are greedy anyway. This is where the importance of planning comes because when we have a plan, we will follow it and we will ignore our emotions if ever we lose or even when winning.

therefore, every trader should make a plan that they make from scratch. Don't be too greedy to get big profits in trading. The importance of experience in trading must of course be considered to minimize the risk of loss.

traders have to manage and limit the assets that we can trade. Many traders cannot control their emotions when they lose. and choose to put in too much which will shackle more money. the trader must know when he is satisfied with the profit as well as the loss he can bear.

and what needs to be emphasized is the greedy nature that always permeates every human being, therefore we must be able to control it