Base on my experience, when I'm expecting too much profit as I trade it is pushing me to the limits up to the point of losing.
Why? because I've already profit if I've sold at a not so high price which is a considerably good amount. But because I'm not confident and contented during that time, the market started to correct and that made me instead of profiting to losing.
Topic: Trading Answers - page 4. (Read 677 times)
No one will tell you all the secrets of trading. You must understand for yourself how you should trade. Many tips that work for other people will be useless to you, remember this. However, you should avoid greed, it will destroy you.
Youve answered the most important mistakes many new crypto traders can't do without, greed is the answer, not knowing when to quit is really where the problem lies, no matter how good you are at trading you will lose and win so even if you keep wining you will eventually lose, why nit quit for the day and resume the next day?
The most important thing and needs to be learned also is how to manage trading capital so it does not fall apart and can make trading more comfortable and safe capital. If Technical and Fundamental likes to master, Capital Management must understand and understand. 
Someone send me a message asking me that how will i know when if bitcoin will go up or down when trading? and is trading based on luck? when i decide to answer the question openly, trading is risky as well but you can indeed limit your loss if you know when to trade.
1. When to trade
I belief that the best time to trade is right when bitcoin recovery takes place, the moment price stability occurs is another good time for trading or when price start surging.
2. How to trade
Actually in trading you need to put aside your greed, once greed gets over you losses will follow, limit your daily trading too or you will open door to losses, trade twice a day is enough, always use low amount when trading, do not trade with big amounts, slow trading wins the race.
i am not perfect as well and i have lost some money in trading before i figured this out on my own and it works for me.
1. When to trade
I belief that the best time to trade is right when bitcoin recovery takes place, the moment price stability occurs is another good time for trading or when price start surging.
2. How to trade
Actually in trading you need to put aside your greed, once greed gets over you losses will follow, limit your daily trading too or you will open door to losses, trade twice a day is enough, always use low amount when trading, do not trade with big amounts, slow trading wins the race.
i am not perfect as well and i have lost some money in trading before i figured this out on my own and it works for me.
Its easy to said but to take action is hard specially if you cannot control your emotion this is only one of advice that I reaf in this forum hut first you enter in trading industry make sure you know what kind of trader who you are, proper way of learning plus experienced is the best strategy in trading.
Good advice. I really tried to do this in a recent growing market, and I managed to make a small profit.
When trading you can't be too eager to make profits or too anxious to recover your loss,at first do not trade with money you can't afford to lose, by doing this you will have a calmed mind, but till date i haven't find the best strategy to trading infact it feels like there is none
Different perspectives, so it depends.
When to trade? Well, no one knows exactly what will happen (will price go up or down), so thinking about it, I trade when it feels right. "Use your best judgement" and trust it.
How to trade (don't think that's the right question), but anyway I somehow agree with your statement there. It's the emotion overall. Either you get too excited with the profits you have earned or you're eager to recover your losses. Learn to stay calm, have a target number in mind beforehand, when I get xx% profit I'll stop, when I've lost xx% I'll stop (something like that). More of a self discipline too to accomplish that.
When to trade? Well, no one knows exactly what will happen (will price go up or down), so thinking about it, I trade when it feels right. "Use your best judgement" and trust it.
How to trade (don't think that's the right question), but anyway I somehow agree with your statement there. It's the emotion overall. Either you get too excited with the profits you have earned or you're eager to recover your losses. Learn to stay calm, have a target number in mind beforehand, when I get xx% profit I'll stop, when I've lost xx% I'll stop (something like that). More of a self discipline too to accomplish that.
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But it is difficult to know when bitcoin will slow recovery as we only know that the candle will go green candle. That will no guarantee to us to buy bitcoin at that price, but if we are lucky, we could get the lowest price before the price increase in the next hour.
Yes, avoiding greed will necessary in trading. We should take care of our emotion while we also need to think how to prevent greedy become bigger. We can make a target price to sell so we can prevent greed.
Yes, avoiding greed will necessary in trading. We should take care of our emotion while we also need to think how to prevent greedy become bigger. We can make a target price to sell so we can prevent greed.
You would fail if you would be too greedy, especially on such a market, a very good advice indeed. But in my opinion you should search for a liquid trading pairs and good exchanges, because those are the core factors of at least a tiny profit.
To take the recovery phase as a time to buy crypto or go back in to the market is too risky in my opinion. Remember about there will be a chance if that can become another bulltrap only and that's it.
For me i always take the bearish trend as a discount for me to buy crypto and it works till this day and this time i have earned more than 30% from some of altcoins.
Never try to be a greedy person and just cash out when we have already in profit.
For me i always take the bearish trend as a discount for me to buy crypto and it works till this day and this time i have earned more than 30% from some of altcoins.
Never try to be a greedy person and just cash out when we have already in profit.
Youve answered the most important mistakes many new crypto traders can't do without, greed is the answer, not knowing when to quit is really where the problem lies, no matter how good you are at trading you will lose and win so even if you keep wining you will eventually lose, why nit quit for the day and resume the next day?
It's easy said than done. So it's better not making trades based on your emotions.
Youve answered the most important mistakes many new crypto traders can't do without, greed is the answer, not knowing when to quit is really where the problem lies, no matter how good you are at trading you will lose and win so even if you keep wining you will eventually lose, why nit quit for the day and resume the next day?
Someone send me a message asking me that how will i know when if bitcoin will go up or down when trading? and is trading based on luck? when i decide to answer the question openly, trading is risky as well but you can indeed limit your loss if you know when to trade.
1. When to trade
I belief that the best time to trade is right when bitcoin recovery takes place, the moment price stability occurs is another good time for trading or when price start surging.
2. How to trade
Actually in trading you need to put aside your greed, once greed gets over you losses will follow, limit your daily trading too or you will open door to losses, trade twice a day is enough, always use low amount when trading, do not trade with big amounts, slow trading wins the race.
i am not perfect as well and i have lost some money in trading before i figured this out on my own and it works for me.
1. When to trade
I belief that the best time to trade is right when bitcoin recovery takes place, the moment price stability occurs is another good time for trading or when price start surging.
2. How to trade
Actually in trading you need to put aside your greed, once greed gets over you losses will follow, limit your daily trading too or you will open door to losses, trade twice a day is enough, always use low amount when trading, do not trade with big amounts, slow trading wins the race.
i am not perfect as well and i have lost some money in trading before i figured this out on my own and it works for me.
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