Post
Topic
Board Trading Discussion
Re: Trading as a newbie?
by
Smartvirus
on 02/08/2023, 14:17:30 UTC
I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating
It’s way much of an ambitious plan for a beginner.
The good news is, you’ve got a plan and trading with a plan is always a good way for a start, since you’ve hit a defined point where you would be satisfied with the profits you’ve got and that would in turn put your greed in check.
One fault in your plans though, you didn’t consider the possibility of loosing, even as a beginner of which you’re bound to make a lot of mistakes with no experience to help. As a beginner, you’re most likely going to have more loses than profits. Your only asylum would be you, trying out your practice trading days on a demo app.
That way, you can build certain approaches towards trading the market and do your best to keep to it. It’s what would save you from loses.