Post
Topic
Board Trading Discussion
Re: Common mistakes by unskilled traders
by
bitgolden
on 22/10/2023, 18:54:40 UTC
Of course if we can make our profits much greater than the losses for a week or a month in calculations for example then obviously it is quite an achievement, you have been able to reduce the level of risk to be smaller and after that all that is needed is to remain consistent. But to be able to achieve such a position is not easy and for some people it is very difficult, there are quite a lot of factors that hinder, among them as you said, they must have proficiency and skill in observing the market and also of course with sufficient knowledge.

The fact is that it is very difficult, the fact is that even if you spend all day reading books in terms of learning but still when you really plunge into the market then maybe only a few percent of the knowledge that you can use there from reading the book. That's because the nature of the market is always changing - changing and of course this is a difficulty for every trader in my opinion. Not infrequently also some of those who can be said to be quite advanced traders can still be fooled when entering the market, they bring strategy A but apply it in a market that is B, of course the results will not match expectations. Of course everyone has their own choices, and you may be one who prefers to be an investor rather than a trader, because maybe you have seen that the profession as a trader is too difficult and complicated. Everyone has their own perspective in seeing things and maybe they will definitely choose one of these two professions, investor or trader? yes you know which one is better for yourself.
I believe that taking lesser risk but still staying in the crypto world is the best way to make money. For example I have been just buying and holding bitcoin, that is the least risky thing that you can do in the crypto world and you could still make a profit from it.

When it comes to trading, if you compare stuff like intraday trading of some altcoin on 100x leverage that would be insanely risky, but trading a bitcoin pair once every week? That's still trading, you bought it today and sold within the next 7 days, it was a bitcoin-other coin type of trade as well, and you are still taking a bigger risk than holding bitcoin but it is way way less riskier than the other one. So you need to know what's the risk before you trade.