Very important tips in digital currency trading - page 3.

herfianto

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Quote from: Hachouma92 on April 24, 2019, 03:09:24 PM

These are some important tips in the area of currency trading

I hope you benefit beginners in this area

First: Do not invest in any currency before studying it thoroughly and searching for it in depth

Second: you should always buy at the lowest possible price try to buy the currency when it decreases
To the lowest levels and avoid buying on the rise or when it is at the top of the rise
They may go down at any moment and dramatically

Third: Avoid panic when the currency devaluation and do not rush to sell it because it may return
To rise again you must be very patient during trading

Fourth: Do not buy one currency with all the head of the owner, this is very dangerous, which fall
The currency will result in your loss of everything you own or a large percentage of your money

Fifth: Do not rely on a single trading platform and put all your money, but must

To rely on a range of platforms known worldwide

Yeah that's its good tips, I also do the same. Do a reasearch before invest on cryptocurrency, try to buying at low price and sell it when price rise. First and second thing is a must do.

Thanasis

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Having own strategy make us a better and chances of having more successful but also we need to know how to tackle when we face losses.People just wants to make profits but they are not getting prepared for it,just follow the steps of others will not make us unique and more successful than anyone.

nik009

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Every trader should have an own set of rules flexible enough that specifies an entry, a probable maximum loss and funds management criteria.

omonuyak

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Quote from: Joetann94 on April 30, 2019, 05:33:51 PM

dont get emotionally attached to a bag

Emotions do affects our cryptocurrencies trading but can we stay without been emotional especially when things are going on a contrary directions? To me the best way to keep our emotions on check during trading is through skills and experience.

Cherylstar86

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Quote from: miropp on April 30, 2019, 05:08:28 PM

This is quite common and well-known tips, everyone knows them. But for a beginner it should be the most important rules without which there cant be a successful trade.

The basic method we have to use before penetrating on trade is to study the articles and rules, to enhance our knowledge to create sensible strategy to deal the shortcoming of market and to avoid loses. And I think being wise is the most significant way to deal on trading and it may lead a great thrive in return.

leowonderful

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Follow the major trend and stop going against it, and use risk management correctly. If you're trying to go against whatever trend's in play you'll just lose money eventually, and if you're not setting stoplosses and manually closing trades you'll also lose eventually. Scale in and out of trades and set appropriate stop losses to lower risk, and don't let emotions get in the mix. Also remember you don't always have to be trading- if you don't see any good setups, wait till you see viable ones and try to get in. If you're forcing a trade you'll more often than not lose money on it.

gilangIDR

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Quote from: cryptothreads on April 30, 2019, 07:00:16 AM

Quote from: Idrisu on April 29, 2019, 02:23:06 PM

It's really a good advice you have given to us here and I think the major problem is been able to keep those tip. I do believe that majority of us know all this point you have listed but keeping them is the really problems with investments and trading. For example it is impossible to keep trading when you know that the market is going against you and you are lose.

The most difficult thing is the psychological control when the market starts to appear red because it will be a time when you will be very difficult to calm down and easily fall into a state of panic. I think this rule is only applicable when the market shows signs of new growth and we will make a profit if we can calm down at all times. Of course these tips are useful but for me this is not the best advice because the bear market often brings surprises to everyone.

Every situation will definitely require a different strategy. When we decide to trade then we must be able to make decisions quickly, usually the market is always changing at any time and therefore we must be able to make decisions when needed. A situation like this really depends on the abilities and experience we have, so practice your abilities and never give up to gain experience.

Joetann94

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dont get emotionally attached to a bag

miropp

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This is quite common and well-known tips, everyone knows them. But for a beginner it should be the most important rules without which there cant be a successful trade.

1Referee

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Quote from: cryptothreads on April 30, 2019, 07:00:16 AM

The most difficult thing is the psychological control when the market starts to appear red because it will be a time when you will be very difficult to calm down and easily fall into a state of panic.

I find it quite fascinating how people still consider a red market to be negative. The subject is trading...... You can just as easily use the downtrend in your advantage to scoop up profits, because as long as you don't go against the trend, you're likely going to do well. The problem with people here is that they are bullish by nature, which only works against them.

2018 was a clear downtrend year, yet people kept betting against it hoping for a bull run to initiate. If you want to rekt yourself hard, then that's the right way to do it. Lips sealed

fasdorcas

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Anyone who is trading should always make proper research of whatever they want to trade and avoid investing in what they know nothing about ,you’re right about that op Cheesy

. And whenever we want to buy any coin we should know where to set our stop loss and know how much we can afford to lose and what target we have to make as a profit.

When you reach that target profit ,it’s good to leave it see if it continues to rise and at this time you will have to focus on the market to know when anything is going to happen, cause it might be at that time you take your focus out that something different is going to happen.

cryptothreads

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Quote from: Idrisu on April 29, 2019, 02:23:06 PM

It's really a good advice you have given to us here and I think the major problem is been able to keep those tip. I do believe that majority of us know all this point you have listed but keeping them is the really problems with investments and trading. For example it is impossible to keep trading when you know that the market is going against you and you are lose.

The most difficult thing is the psychological control when the market starts to appear red because it will be a time when you will be very difficult to calm down and easily fall into a state of panic. I think this rule is only applicable when the market shows signs of new growth and we will make a profit if we can calm down at all times. Of course these tips are useful but for me this is not the best advice because the bear market often brings surprises to everyone.

beerlover

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Quote from: Indrawan77 on April 29, 2019, 04:56:37 AM

That is the most basic knowledge that need to acknowledge by all traders, but that is only theory in the real world its not that simple, the market movement is really hard to predict and sometimes the trend could change in a fast phase, need to be patience to get the profit, and slowly build up your experience to become a better trader

The last part of your sentence is the main key which I would also advise everyone to work towards and hold on to so tight, without any form of experience, trading digital currency will be a frustrating thing, so before we conclude that we are set to start live trade, we need to have gathered enough experiences.

There are so many way at which we can gather enough experiences before going into live trading and one of them would be to demo practice first, but before demo practicing, we need to have also gain much knowledge and learn strategies., these are what we will take to our demo practice to gain enough experience before starting the live trade.

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Quote from: Idrisu on April 29, 2019, 02:23:06 PM

It's really a good advice you have given to us here and I think the major problem is been able to keep those tip. I do believe that majority of us know all this point you have listed but keeping them is the really problems with investments and trading. For example it is impossible to keep trading when you know that the market is going against you and you are lose.

It's really hard to trade and make profits if the market turns into sideways so better wait for a good timing to trade. Your tips are very helpful especially for newbies but the problem is putting them into actions which i think might be quite hard not just for newbies but even with those old traders.

Idrisu

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It's really a good advice you have given to us here and I think the major problem is been able to keep those tip. I do believe that majority of us know all this point you have listed but keeping them is the really problems with investments and trading. For example it is impossible to keep trading when you know that the market is going against you and you are lose.

DeathProxy

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What cause many loss in trade its due to lack of proper reserach before trading a coin. Many people go in blindly at the end they end up lossing a significant amount of money which can be avoided by doing proper reserach before diving into any trade

Pamadar

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Quote from: Findingnemo on April 28, 2019, 11:00:21 AM

Quote from: Hachouma92 on April 24, 2019, 03:09:24 PM

Do not rely on a single trading platform and put all your money, but must

To rely on a range of platforms known worldwide

I don't think we have to use different trading platforms it will make the status of trades to be worse better choose the best of all and stick with it.

With you all other point agreed.

Some might agree but some will not, traders always finding ways to take every opportunities,if they seen advantage using other exchange they use it and take the risk, but again it will be depends from traders mindset and how they see the benefits of things that will bring good potential profits to their assets.

bonker

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Quote from: Hachouma92 on April 24, 2019, 03:09:24 PM

These are some important tips in the area of currency trading

I hope you benefit beginners in this area

First: Do not invest in any currency before studying it thoroughly and searching for it in depth

Second: you should always buy at the lowest possible price try to buy the currency when it decreases
To the lowest levels and avoid buying on the rise or when it is at the top of the rise
They may go down at any moment and dramatically

Third: Avoid panic when the currency devaluation and do not rush to sell it because it may return
To rise again you must be very patient during trading

Fourth: Do not buy one currency with all the head of the owner, this is very dangerous, which fall
The currency will result in your loss of everything you own or a large percentage of your money

Fifth: Do not rely on a single trading platform and put all your money, but must

To rely on a range of platforms known worldwide

most of the people who are doing cryptocurrency trading not having enough knowledge about what is trading they are just doing it has gambling to make profits by trying there luck but it is not going to work for them in long time one who want to do Crypto trading must have enough knowledge about it.

GregH37

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Thanks mate, you have very wonderful tips and I can see that you are a newbie and have not really taken time to study the bitcointalk forum carefully to see that most people in this forum have already gone past the stage of the advice and would need more deeper advise to continue being successful in their trading and investment.

Anyway, your tips are a reminder of where we are coming from in this cryptocurrency and how far we have gone, this tips will help us remember the beginning and continue to make us humble in our present crypto and trading life. I do pray that you don’t all a victim of your own advice yourself.

Wind_FURY

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Quote from: Hachouma92 on April 24, 2019, 03:09:24 PM

These are some important tips in the area of currency trading

I hope you benefit beginners in this area

First: Do not invest in any currency before studying it thoroughly and searching for it in depth

But after studying everything thoroughly, you would discover that the best investment is only Bitcoin. Maybe you can day trade shitcoins, but store of value is only Bitcoin.

Quote

Second: you should always buy at the lowest possible price try to buy the currency when it decreases
To the lowest levels and avoid buying on the rise or when it is at the top of the rise
They may go down at any moment and dramatically

What's your strategy? That depends. If it's a HODL-term investment, Bitcoin will be the best for you.

Quote

Third: Avoid panic when the currency devaluation and do not rush to sell it because it may return
To rise again you must be very patient during trading

Then Bitcoin is for you, devaluation is welcome to give you an opportunity to buy more. It's the black hole that will suck all liquidity, and value during the coming Hyperbitcoinization.

Quote

Fourth: Do not buy one currency with all the head of the owner, this is very dangerous, which fall
The currency will result in your loss of everything you own or a large percentage of your money

Fifth: Do not rely on a single trading platform and put all your money, but must

To rely on a range of platforms known worldwide

Hahaha. No, DON'T HODL shitcoins, HODL Bitcoin.

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