Topic: Trading tips - page 8. (Read 3485 times)

Emotions have huge part in your decisions and if you want to test what is their importance just make a decision when you are under impression of emotions. See what are the consequences and result when you are affected with emotions and when are just free. They can even make your trading worst and thus there are so many people who are disappointed with trading and quit.

You can never know for sure

I like this saying best:

Bulls make money, Bears make money, Pigs get slaughtered.

Don't be too greedy!

A way to fight greed is to use Multi Targeted profit taking approach:

T1 to recover the cost of ur trades plus some profit
T2 to take profit on top of T1.
T3 to ride the trend until it reverses.

The purpose of T1 is to remove the risk from ur trade when practicable. After all, recovered capital is capital that can be redeployed at the earliest opportunity.
Over a large sample of trades, the majority of profits would likely come from T2.
Although T3 would provide some truly phenomenal gains!

Using an example such as the early pumps of NEO or OMG, coming from ICO: T1 could be a point where price has doubled or tripled. And you exit 60% or 50% of your position.

T1: ur position of 100 becomes 2x or 3x => 200 or 300..
..exiting 60% of 200 means 120 is recovered.. 50% of 300 means 150 is recovered
..in both cases above, the capital is freed up and no further losses can be incurred from the trade

T2: ur position of 80 (200-120) or 150 (300-150) can be halved when price reaches 4x, as an example
..from 2x to 4x, your 80 becomes 160, u exit 80 and keep the balance open
..from 3x to 4x, your 150 becomes 200, u exit 100 and keep the balance open

T3: at some point it becomes clear that the price has peaked and the market's attention has shifted to other coins. you may exit at the current price or just hodl the balance. after all, these are now 'free' coins (they have been free since T1 price was met & exited)

What if you buy at some price and then it go down, the old price never return. So my question is how to know which time to buy?

Few are some of the tips good for trading:
1. Never trust anyone blindly who gives you advice on how to trade but use your own knowledge and experience and then make good decision instead of creepy one.
2.Learn from your past mistakes and recover them in future planning.
3. Make your own trading strategies by not comparing and copying from others.
4. Keep a regular monitoring on the market and be aware of the new things happening in market.
Apply some of these which might not make your expert at once but may help you in some way.

One should learn about trading before investment in the market. The beginners should search out the whole market to know the basics of trading. One should consult different peoples who are already in the same business which you want to start.

Literature may also be studied available on different sites. Start should be taken from minimum amount to avoid any risk. Bitcoin may be a good choice as it is an establish currency in the market.

Simply believe in yourself and believe in the bitcoin that it will never let you down buy whenever it is beneficial for you don’t greed for the dump or for more pump stick to your strategy and always take the decisions on the right time and if there are high prices sell your coin don’t wait for more to come it often lead to the more waiting situation follow these you will be blessed a lot by this coin and stay active here.

Thank you for those tips!
Can you recommend any Crypto signal groups?

Being a professional trader i want to suggest you when you want to start trading then you should know some experience about that trading and you should start with less money and improve your experience through this way and the last tip is that keep in touch with your field people from low to high experinced people and keep your discussion about trading with them.

Yes it is not an idea at all to invest all you have along with the savings. This is because if you are trading in terms of the cryptocurrencies, then the fact must be remembered any way that the price if various currencies are a subject to change and if the market goes down due to low investment rates then obviously you will face a loss. So it is better to use only that much amount form your total budget that could be recovered n the case of a loss.

My only tips is for you to learn the very first basics that you need to know in trading is how market works, learn its movements and then go the common abbreviations that will help you especially when you have read any news remember dont buy when the price is on the hype or uptrend.

Is Cryptopredict.me actually good? how long are you following their advice?

My tips is formulate your own study/research and don't believe on what other people might say, just use a reliable info and read news always about your crypto's because they usually trigger some pump and dump and diversify your trading like they always said.

before entering in the world of trading just familiarize the flatform of exchanger know the currency price if you know about trading you can build your own strategy.. for newbie just put a small fund that can afford to lose just a little tip dont trade in the closer price...

Do your own research to learn more things about trading. Watch video on youtube. Buy altcoins in a lower price and sell it into higher price to get a profit. In trading, you need to be a risk taker person.

I know better we just do our own research. But as you know we are newbie so dont really understand what kind of research do we must do? Which one is good? So we need suggestion how we start.
Your answer is appreciate.

Listen to some trusted trading group. you could know which coin is going to have good news.
You should follow some familiar coin in twitter.

Learn how to analyze chart because the chart will tell you many things

I think firstly you have to understant how to read and understant the chart and price action of each coin, then learn how some important indikator like Moving Average work, after that you have to learn about money management like divide money into minimum 2 altcoin. Then you have to know and learn about psikilogis in trading. Psikilogis in trading is most important and key of succes , like enable to control emotion and dont greedy when taking profit.

If you beginner in trading for the better choose coin that has good fundamental only and has big volume and market cap like BTC, ETH,DASH,LTC,WAVES. Just trade in these coin, buy when they are in oversold area then take profit about 20% then, then with patiently buy again in the deep. Trading also should be focus to analysis the chart but dont over trading because over trading only make emotional during trading. And trading with emotional will be difficult to getting consisten profit and only bring to big lose.

Firstly you should be understant the risk so always use money afford to lose for trading. Then other important think is you should extra patient and control emotion, learn about money management and risk management. then learn about technical and fundamental analysis. But between all this think, the most important think is always patient and dont greedy.