Post
Topic
Board Trading Discussion
Re: Do you somehow define before hand your trading strategy and write it down ?
by
irhact
on 01/07/2023, 10:00:08 UTC
Im selling an iPhone here and asked for a loan so I can start my trading journey (hopefully soon) but the trading strategies got me thinking. How well do you define that for yourself? Or think about it? write down or on the wall or whatever?

Starting your trading journey by borrowing is very wrong, the crypto market is very unstable and it doesn't matter how professional you're at trading, you'll always lose some trade and that can put you under pressure when the capital you're using isn't your spare money. Loans are meant to be paid back and they have limited period. Using that pressure to enter the market will cloud your judgement as you would be concerned about making profits to payback the loan.

You have to look for an alternative method to generate trading capital that you won't be scared of losing or go into depression when the markets beats you. Getting a job that pays you salary and saving some percentage is a good way to generate the capital you'll need for trading.