Quote from: Cling18 on Today at 09:45:26 PM

Quote from: molsewid on Today at 09:19:04 PM

Quote from: jostorres on Today at 07:44:51 AM

Quote from: CarnagexD on June 26, 2023, 12:49:41 PM

We all know this as a trader. But how well can you follow your well-written risk management plan determines your result. It doesn't matter how much you know managing funds, it all lies down on how are you able to follow it. Not only that we have money or fund. We also have mental capital which we also preserve. If we lose this, we can't expect ourselves to perform well in front of the charts. It's not only the monetary value, but the psychological value of the risk involved.

Even if one doesn't have enough experience in the market, trading, and risk-management techniques, one can learn about how they can manage their trades along with risk-management techniques so that they can avoid facing excessive losses, because risk-management might not be able to completely save you from losses but it will minimize your losses just like how stop-loss works in not letting your trade going too deep in loss and sells the asset immediately.

So one should obviously practice risk-management techniques before they enter the market so that if a trade they made didn't go the way they expected it to go, the techniques applied save them from facing excessive losses or getting their capital or a part of it stuck in a single trade.

They should always have a back up plan for everything , every time I am doing something I have a plan B and C not because I am expecting that my plans will fail but I want to lessen the risk that I will be encountering once it is failed. Crypto is very volatile so it is not very easy not to have risk management , they should know at least how to use TP and SL.

Applying at least the basics will help even if you're just a beginner. You can't actually do trading perfectly in the beginning and there will surely be challenges that the market brings and your experiences on dealing with these problems will help you adjust and be better as you go on with your trading journey.
It's a long process of learning and you have to be sure that you have the complete willingness to learn because even it teading professionals undergo a continuous learning process.
The trading challenge that we will all be facing is the volatility of the market. We should focus how we could take emadvantage of every market situation.

Would really be just that common sense that you should really be that needing to know on what would be the basics even if you do call yourself a complete newbie then it is really just that right that you should really be mindful about knowing those things before you would really be deciding on putting up some funds here on this space because having no risk management would really be resulting
into a disaster with your finances and this is why it would really be just that right that you should really know at least with the basics.

You cant really just pour up your money and just let it work because it wont really be making out those results or outcomes if you wont really be doing something with it.
This is why its really that important that you would be needing to take actions or what are the primary things which are really needed on handling up this space.