This thread is primarily directed to discuss how traders manage trading uncertainties how do you manage to decide on your trading in a volatile market such as cryptocurrency where price can change within some seconds.
For me, trading exist because there are some volatility, that is why we can also use or utilize the volatility to take some profits.
But because of this uncertainties or volatilities, trading is very risky, yes, this is riskier than investment of holding.
However, actually there are some ways to manage and control this problem.
So far, at least we can:
- Prepare ourselves about the risks.
- Manage the funds to be traded, not all in, set only funds that we can afford to loose, don't use money for daily needs or important needs in the future, just use free money.
- Manage our emotions.
Emotions are very important in trading, too much emotion may lead us to panic, shock, sad, too happy, too angry, that will make us stressful. panic sel and panic buy also often happen in trading, so be careful, smarter and also wiser when trading.
- Manage how we set the target price and set the profits. We may not be too greedy. We can set certain target to fulfil the profits based on percentages.