Post
Topic
Board Trading Discussion
Re: Technical aspect in trading
by
CryptoDROI
on 14/10/2021, 11:54:17 UTC
Rushing into an investment without taking a step back or understanding the risks can lead you to make a wrong decision. Fundamental concepts, such as market trends and risk management, are crucial for a successful crypto-trader.

It will be hard to grow or protect your trading account without a solid understanding of the market. Knowing the basics, such as the ones mentioned above, will help you make wise decisions about where to invest and how to trade.

The truth is that not every trading system will be profitable. It's important to know which ones will lead to success. A winning trader will be willing to change a losing strategy quickly and stick with one that's working for an extended period of time.

Before anything, you should learn how to manage your risk. You should look for high probability trades with a risk/reward ratio of 1:2 or more to correctly manage risk.

Or you could opt for average down your bought price with a good DCA strategy. But, you need to define your rules before entering a trade.

So IMHO, you should create a set of rules that first and foremost include risk management. Then stick to it.