Quote from: maydna on July 23, 2018, 05:58:02 AM

Quote from: znaneswar on July 23, 2018, 05:24:13 AM

in trading, even after years of losing money month after month, traders still believe that the only reason they have not become a millionaire is because they havent found the right strategy yet.

It is impossible to predict where price is going to go in the future.

Be prepared by having a fixed stop loss in place. Anything may happen at any time like bad news dump coz single trade could wipe out your trading account. Don't change your trading approach after a few losing trades Stick to your approach.

and to solve their problem, there is no other way except to keep the practice in trading so they can find a good strategy that will work well for them. I think it will need a time before they can find one or two good strategies but still, it is worth to them to keep trying to make a profit and avoid the mistakes. yes, I agree that to prevent from the loss, we need to use stop loss function so we can avoid to get a big loss and besides that, we can learn something from this so we can make another strategy to recover our balance.

This is our common mistakes as a trader, if we loss we are trying to recover immediately or so called "greed" somehow at some point chasing profit will only lead us more to a great loss or worst case, bankrupt. Finding the efficient strategy for you is not really a thing, why not creating your own? own decision and own results. Giving up onto decreasing valued coin is not losing anytime but a wise decision for a moment.