Post
Topic
Board Trading Discussion
Re: How do you combat your weaknesses in trading?
by
XZERO1
on 18/01/2021, 11:48:02 UTC
My major problem in trading most definitely is Poor risk management. I sometimes see myself more like a gambler then a trader. With that usually comes overtrading because i want to trade for kicks, and even losing gives me kicks. But i try to combat that by trading with at least 4h candles so the time between the swings will be longer, and i will use 1d candles too just to be sure. And naturally leveraged trading is a problem for me.

You know what triggers poor risk management?, seeing that many coins are going up by a big percentage but you just bought a small amount of these coins which gives you that "missing out" feeling, what maybe could help you with that is to take a look at the red side as well and see how many coins are lost 10-30% in a day and the fact that could be as easily be buying one of those coins and be in huge loss because you risked more than you can afford to lose.

Diversifying and having some hedge options at hand could help you a lot while trading and if you used them long enough you should have also experienced that how lucky you were that you didn't go all in one coin/token.