Post
Topic
Board Trading Discussion
Re: Things to know before trading.
by
rahmatullah9305
on 20/09/2021, 19:35:34 UTC
Many people have been investing in cryptocurrency, and some have been complaining that they are losing money, particularly newcomers, so I believe this will really help you as a trader. The following will guide everyone to be a successful trader.

There are four keys to successful trading.

1. Find a strategy that works for you: If you are dedicated and forced to put in the effort, you will undoubtedly find a strategy that works for you. There are a variety of strategies available for you to try out.

2. Risk management: You must work on your risk/reward ratio, know how much you must invest in a coin, and only invest what you can afford to lose. If you are trading futures, always use a low laverage and don't forget to use a stop loss.

3. You must give yourself time: Because cryptocurrency requires patience and dedication, you should not rush to make money at the same time This is impossible since if you buy a coin now, it may take weeks or months for it to pump, so don't expect to make money quickly with cryptocurrencies. Give yourself time to investigate and plan. Because trading is a long-term endeavor, you must devote sufficient time to learning.

4. Dedication and commitment: If you truly want to be a good trader, you must be able to devote all of your time to it. Since you are making money from it I believe it really worth giving all your time.
Yes, it is very appropriate for all of us to study these four points before trading. Two points one and two as you mentioned define strategy and risk management for the most basic steps. The right strategy is the first step before investing, meaning we have studied well the altcoins we invest in and secondly, risk management for me a good application of the nominal we invest in order to minimize losses.