Post
Topic
Board Trading Discussion
Re: 2 Reasons Noobs Fail At Trading
by
justdimin
on 07/03/2019, 09:08:39 UTC
Full time trading with crypto can be HARD! However, a lot of new traders fail due to two fundamental flaws.

1 - Not utilizing discounted trading platforms or functions

2 - Not utilizing stop losses (or setting stop losses in the wrong spots)

Determining where Bitcoin will go hasn't been hard. Determining where Bitcoin will go from a neutral market...now that's a different animal. If you're bullish on a certain crypto always use a stop loss. Look for points of resistance and support, then set your stop losses accordingly. If you are trading and "scalping" your trades, you need to make sure you are paying little to no trading fees. Coinbase pro allows "makers" to pay $0 in fees (limit buy and sell orders). Nauticus is new and offers 99% discounts on all trades atm https://nauticus.exchange/exchange/NTSBTC . Binance allows you to use BNB and receive discounts for it. This isn't rocket science tho guys. Learn how to short, when to open bullish positions, and don't get destroyed by fees from the bigger sites  Grin
Funny enough, a lot of people still use their gut instinct to trade when all these tools and lots of analysis are out there for them to take advantage of and trade successfully. These rules they don’t follow are the major reason why a lot of them fails and they see professional traders and God to trade on their behalf when they can basically be a professional too by following trading rules.

I know it is quite not easy for newbies in trading to understand these trading tools and indicators that is why it is important not to jump into trading till one gets the full knowledge right.