Quote from: HI-TEC99 on July 04, 2017, 06:22:51 AM

Quote from: Denker on July 03, 2017, 03:05:51 PM

...Trading is extremely difficult and it could also fu** up your nerves if you lose, even if it's just a small loss.

Besides trying your nerves trading can make you physically ill if you take it too seriously, and it's difficult not to when gambling a lot of money. Some traders wind up suffering from extreme sleep deprivation after staying awake for days on end waiting for the market to make a move. That alone can make you physically ill.

Oh yes this is me. I have serious brain/nerve damage from the sequelea of consequences of bitcoin trading and would return every satoshi for my old life back. I also lost a job and spent half of my profits supporting myself for a long time until I found my next job.

I've since learned the secrets of healthy trading. You need to find markets you dont care about (like altcoins) and arent going to need to follow and watch 24/7. Find something that is moving quickly and with volume and go in and out of your trade within minutes or hours. Dont get greedy and have to catch every move. Focus on performing well for a few hours at the desk. Then 'clock out' and go on with a normal life with no charts until you 'clock in' again. If something starts moving at night when you are supposed to go to sleep, forget it and save your energy for another move during the day. You have no guarantee that you are going to make a profit anyway.

Another way is to use the 'set and forget' method that forex and stock traders like. Pick a strategy and place limit and stop orders that will execute on their own. Then commit to your strategy, dont watch the chart, and dont change your orders. The problem is the exchanges arent robust or reliable enough for this. The stop orders on Polo dont even work.

You dont need to get rich quick. If you make 1% per month, you are beating the stock market. If you make 1% per day, you are making a fortune.

And finally: Never trade during low volume. Once things die down you might as well go on a sabbatical.