Post
Topic
Board Trading Discussion
Re: Tips for good trading
by
lumeire
on 16/02/2022, 20:14:18 UTC
For me as a day trader i can really say that trading is not an easy way to make money especially when it comes crypto because of beings so volatile of the market .
so for those who wants to become trader but can't afford to lose money i highly recommend to use paper trading first and practice your skills, learn how to have risk management and also build your trading plan before jumping into live trading. just don't rush your situation and must have discipline if you really want to have a good journey in trading..
These are all the right practices that I enjoyed while learning trading for the very first time. The problem what most of the newbie face is that they become very confident after just a few paper trades that went well and according to their plan and they start to trade with real money right off. But the thing is that they tend to loose a lot of money after this process.
They should atleast make 100's of paper trades and mark the entry price and target price right off the bat and if they loose then should understand what went wrong in the trade and try to rectify that loose end in next trades and then only start with a demo account with fake money in it, if successful then only enter in real trades.