Topic: Tips in Trading - page 2. (Read 504 times)
I believe when you are going into trading, the first mindset you need to go in with is that you could either win or lose a trade and it shouldn't affect your life even if you lost, I remember when I was new to the trading world and don't know anything about it, I lost about $200 in one damn because I placed a wrong signal that caused a big dump in price and my coin automatically became 0 within few hours.
2. If possible, devide your funds so that you can enter two or more signal.
This sounds like martingale style to me which is risky to do. Splitting of fund so as to enter multiple trade is not necessary. What I think is needed is to embark on trade that its loss will not affect your balance.
But sometimes splitting your fund into two altcoin is a good strategy specially if you think that the other altcoin is in the buyzone area which is a good to enter, this is what Im going todo with my trade so far so good but I always set a stoploss to prevent losing so much money.
2. If possible, devide your funds so that you can enter two or more signal.
This sounds like martingale style to me which is risky to do. Splitting of fund so as to enter multiple trade is not necessary. What I think is needed is to embark on trade that its loss will not affect your balance.
If the price continue to crash then you shouldn't sell your coin, if that happen your profit will be for nothing and it will only be used to recover your loss. 50% should be sold than selling portion of that 50% and your profit will be more. The more you sell the more profit will become your capital.
Selling coin when the price is going down is basically OK as long as there is a chance to buy it again at lower price. Lets make a simple example:
- You bought at 5000 then you think that the price will continue to crash
- You sell it at 4800 and the price still going down
- You buy it again at 4500 or lower then keep on holding till the price going up to the price when you did cut loss or even till the price back to the first time you bought it.
You can count it yourself the possible profit if such things happen. The main idea is that selling at lower price than you bought is not a mistake as long as there is an alternative plan to gain profit from the crash.
If the price continue to crash then you shouldn't sell your coin, if that happen your profit will be for nothing and it will only be used to recover your loss. 50% should be sold than selling portion of that 50% and your profit will be more. The more you sell the more profit will become your capital.
The cryptocurrency market does not work in a predictable manner you might sell of the 50% and realise a totally unexpected change in price this is due to the volatility of the cryptocurrency market.
It's always important to observe the market rather than studying tips, because the market tips might not have an idea of what's going at the current situation of the market
Selling half of the investment when reaches the desired price is actually good idea when you are not greedy.it happens the prices may go higher or lower but atleast you made some profits with the investment and wait for the next time period. It's always important to observe the market rather than studying tips, because the market tips might not have an idea of what's going at the current situation of the market
I would add on few points:
- Analysis before investing
- ever bet must have stop loss
- exclude emotions
The cryptocurrency market does not work in a predictable manner you might sell of the 50% and realise a totally unexpected change in price this is due to the volatility of the cryptocurrency market.
It's always important to observe the market rather than studying tips, because the market tips might not have an idea of what's going at the current situation of the market
It's always important to observe the market rather than studying tips, because the market tips might not have an idea of what's going at the current situation of the market
Yes it may be possibly do but reminders that market price movement is very unpredictable. It means that you may going to earn now after an increase signal after you sell it may possibly go for more high and to which you need to invest again or wait for downfall but it may take some time if it will going to happen but what if in the certain line it wi going to fall instead it will going to continue raising its market price? So you will be left behind if you will not buy for it. But if you will buy then thr market price is high you have made some losses instead of earning.
So the method to earn is just to hold. BUY now while crypti is cheap and sell after it is being doubled or even reach the possible ATH.
So the method to earn is just to hold. BUY now while crypti is cheap and sell after it is being doubled or even reach the possible ATH.
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You don't go around writing you opinions as trading tips, what are your qualifications to give this advice? And what are the guarantee you'll be held responsibility in case if lost of fund are experience buy users who try to practice the said tips above. As this is just your opinion maybe clarifying that in OP will be great because there are numerous newbie visiting this forum daily just to seek financial advice (not recommended though) so informing then this isn't one but just your opinion but if it's a financial advice, what are your qualifications?.
~Sell 50 percent of your amount~
~ only 1/3 that you afford to lose.~
these are both more of money management rather than trading tips in my opinion.
and that means there is no good way of doing it. all methods are correct and can be good for someone and bad for another depending on their strategies. for example i can go in with 100% of the money i can afford to lose and then get out fully when i reach my profit target regardless of whether price can go higher or not. this works best in pump and dump altcoins. then i immediately look for another pumping altcoin to put all in that one. then get out to go in another, and so on...
Work best in the pump and dump altcoin, but not easy to find that coins. When someone can apply many more tips in trading, I guess that he will be able to find out what tips that will work for him, and if he continues to do the same tips or method and always modify the method depends on the market situations, I think he can always make the most profit because he knows what he needs to do related to the market movements.
After all, those tips are good for every trader, and that is the basics that we could use. Don't go with all in when we are not sure, always keep doing analyze when you want to buy and sell order. Maybe I can give some more tips. If the market situations are not going to increase or decrease then that it's the time to leave the market because the next thing that might happen is the market can get down too deep.
It's like being able to control your money spending and making sure that every trade you make would be beneficial in the long run. I have watched somewhere that one trader (he is conducting a seminar) he says that he doesn't lose the trade. That's impossible and it make sense because you are not after the short term, you are for the long term. Your topic has touched his style, and maybe you got it from him too.
Anyways, I suggest learning how to trade with indicators and better than that, you could automate it using a cryptocurrency trading bot like Gunbot
Anyways, I suggest learning how to trade with indicators and better than that, you could automate it using a cryptocurrency trading bot like Gunbot
~Sell 50 percent of your amount~
~ only 1/3 that you afford to lose.~
these are both more of money management rather than trading tips in my opinion.
and that means there is no good way of doing it. all methods are correct and can be good for someone and bad for another depending on their strategies. for example i can go in with 100% of the money i can afford to lose and then get out fully when i reach my profit target regardless of whether price can go higher or not. this works best in pump and dump altcoins. then i immediately look for another pumping altcoin to put all in that one. then get out to go in another, and so on...
You will get the investment advice as only invest that much that you can afford to lose. But my personal experience say put only 1/3 that you afford to lose. If your 1/3 investment start showing loss then you can invest another 1/3 for cost averaging. ( Still you left with another 1/3 in case of further depreciation). If you see profits , then I will say to take out profit and find another investment. But it is very painstaking process to monitor regularly and take decisions.
Question: How to sell with maximum profits in high targets when the signal reaches first target?
Possible Things To do:
1. Sell 50 percent of your amount
2. If possible, devide your funds so that you can enter two or more signal.
3. Buy only on your buy zone just open order and leave it to be filled.
Possible Things To do:
1. Sell 50 percent of your amount
- If the price crashed after the first target the stoploss will be executed with the profit of first target for the rest of 50 percent of amount.
- If the price didn't crashed and reach second target, sell 20 percent of the amount then set stoploss for the rest of 30'percent of the amount a bit little below the second target.
- If the the price crashed after the second target the stoploss order will be executed with thr profit of second target.
- Make this steps for the rest of amount in the third and fourth target.
2. If possible, devide your funds so that you can enter two or more signal.
3. Buy only on your buy zone just open order and leave it to be filled.
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