Trading Tricks For Newbies - page 8.

CryptoMobster

member

Activity: 137

Merit: 16

Educator | Trader | YouTuber

Quote from: mk4 on December 19, 2018, 10:12:43 PM

These "tricks" you've listed really aren't "tricks", they're pretty much just generic trading advice. Not to mention these "tricks" shouldn't apply to every situation. It hugely depends in many factors.

Quote from: Hunnykaushal31 on December 19, 2018, 08:58:19 AM

2. Now look into market, if you think you are in profit then book your profit and wait for dip, but if you are in loss then wait some more time for more dip and pick some more coins.

Just automatically selling after you've seen you've gained profit isn't always the best thing to do. Sometimes it's better to ride out the wave up, wait it out, and sell after a slight dip. Again, it depends on many factors.

Quote from: Hunnykaushal31 on December 19, 2018, 08:58:19 AM

3. now if you see market dip more and more, then wait and wait for best time and buy for further 300$. By this way you can balance your high purchase with low purchase because at some moment it will pump if you think you invest in good project.

If you have $300 left, it isn't preferrable to go all in with the $300 on a certain price point. most of the time it's better to apply Dollar-Cost Averaging[1] all the way down, as there's no way for us to know if your price target is the bottom or not.

[1] https://www.investopedia.com/terms/d/dollarcostaveraging.asp

Exactly my thoughts, no real method to the madness as such

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

These "tricks" you've listed really aren't "tricks", they're pretty much just generic trading advice. Not to mention these "tricks" shouldn't apply to every situation. It hugely depends in many factors.

Quote from: Hunnykaushal31 on December 19, 2018, 08:58:19 AM

2. Now look into market, if you think you are in profit then book your profit and wait for dip, but if you are in loss then wait some more time for more dip and pick some more coins.

Just automatically selling after you've seen you've gained profit isn't always the best thing to do. Sometimes it's better to ride out the wave up, wait it out, and sell after a slight dip. Again, it depends on many factors.

Quote from: Hunnykaushal31 on December 19, 2018, 08:58:19 AM

3. now if you see market dip more and more, then wait and wait for best time and buy for further 300$. By this way you can balance your high purchase with low purchase because at some moment it will pump if you think you invest in good project.

If you have $300 left, it isn't preferrable to go all in with the $300 on a certain price point. most of the time it's better to apply Dollar-Cost Averaging[1] all the way down, as there's no way for us to know if your price target is the bottom or not.

[1] https://www.investopedia.com/terms/d/dollarcostaveraging.asp

CoopHarley

newbie

Activity: 23

Merit: 0

very helpful with me. thank you

Omega Weapon

hero member

Activity: 1092

Merit: 501

Quote from: Hunnykaushal31 on December 19, 2018, 11:00:03 AM

Quote from: LeGaulois on December 19, 2018, 09:52:35 AM

He is just describing the first rule while trading "Buy low sell high" nothing more, and that's something we all know otherwise you will be in bankrupt. The fact that you can manage your loss by buying more if a dip continues is also well-known. (you also extend the risk period and total amount)

Yes, this is very basic rule which i tried to explain and never put all money during your learning period. Try with small amount first, once you are expert then play big games. Note : even experts can fail Cheesy

You are trading intuitively and while that can be possible if you know very well the coin you are trading it is not the best way to do it, a newbie trader in my opinion will get better benefits learning technical analysis because if he begins to trade in the way you are describing he will create some habits that will be difficult to get rid in the future and that will hinder his growth as a trader.

Hunnykaushal31

member

Activity: 92

Merit: 25

Quote from: LeGaulois on December 19, 2018, 09:52:35 AM

He is just describing the first rule while trading "Buy low sell high" nothing more, and that's something we all know otherwise you will be in bankrupt. The fact that you can manage your loss by buying more if a dip continues is also well-known. (you also extend the risk period and total amount)

Yes, this is very basic rule which i tried to explain and never put all money during your learning period. Try with small amount first, once you are expert then play big games. Note : even experts can fail Cheesy

Hunnykaushal31

member

Activity: 92

Merit: 25

Quote from: Kemarit on December 19, 2018, 10:39:27 AM

The only downside is that you don't know when the price has reached the bottom price before you go and and purchase and you also have to identify when is the best selling price you need to more and dig yourself with TA to be able to get a good success rate with this strategy.So its important to watch and price and identify the best buying points to at least mitigate the risk. For newbies, its really good to just buy and HODL before you learn how to play with the market.

Yes, If someone is newbie then learn trading with small amount. Do not put your whole amount during learning period.

Kemarit

legendary

Activity: 3080

Merit: 1353

The only downside is that you don't know when the price has reached the bottom price before you go and and purchase and you also have to identify when is the best selling price you need to more and dig yourself with TA to be able to get a good success rate with this strategy.So its important to watch and price and identify the best buying points to at least mitigate the risk. For newbies, its really good to just buy and HODL before you learn how to play with the market.

LeGaulois

copper member

Activity: 2940

Merit: 4101

Top Crypto Casino

He is just describing the first rule while trading "Buy low sell high" nothing more, and that's something we all know otherwise you will be in bankrupt. The fact that you can manage your loss by buying more if a dip continues is also well-known. (you also extend the risk period and total amount)

CryptoMobster

member

Activity: 137

Merit: 16

Educator | Trader | YouTuber

Makes sense but there is no really TA to you method. what do you do if it keeps dipping, or if you bought in the downtrend, you really need to discover that first before buying anything

Hunnykaushal31

member

Activity: 92

Merit: 25

Here are some tricks if you are new to crypto world.

For me i found it good to use 3 part trading trick.

1. Suppose you have total budget of 900$, first thing is do proper research before you invest. Once your research is done , buy coin of worth 300$....
2. Now look into market, if you think you are in profit then book your profit and wait for dip, but if you are in loss then wait some more time for more dip and pick some more coins.
3. now if you see market dip more and more, then wait and wait for best time and buy for further 300$. By this way you can balance your high purchase with low purchase because at some moment it will pump if you think you invest in good project.

So 3 part trading is best thing.

Topic: Trading Tricks For Newbies - page 8. (Read 22543 times)