Re: Failure of trading

Quote from: wxa7115 on July 25, 2018, 04:13:58 PM

Quote from: dindasulis on July 20, 2018, 05:06:39 PM

share experiences, Buying and Selling Bitcoin when prices are high is risky. surely a bitcoin trader has experienced the name of loss on bitcoin so how big is your nominal loss in bitcoin trading in your life? and is there any suggestion to reduce or avoid loss on bitcoin Huh

There is no way to avoid losses when you are a trader the risk is part of the game, what you need to do is to create an overall strategy and determine how much money you need to win from each trade and how many trades you must win in average, if you are a day trader you need to win something close to 70% of your trades at minimum, if you cannot do that then day trading is not for you, but there are good news if trading is not for you then you can become a long term holder, if you do that, then your losses will only be in fiat and not in bitcoin and the only thing you need to do is to wait for the right time to sell your coins.

Anyone who wants to trade and have the mindset of trading without any single loss will only end up over working themselves emotionally. Even professional traders count losses as part of the trade, the only thing that makes it different when you have the knowledge is that the losses you make cannot be compared to the profit you make. For me, I make about 60% profit in my trade and that is good enough for me. Failure comes in when you are busy making only losses simply because you have no idea of trading and that is when the wannabe trader should be worried.