Post
Topic
Board Trading Discussion
Merits 1 from 1 user
Re: What you need to know about trading
by
irhact
on 02/12/2023, 11:50:08 UTC
⭐ Merited by Kristiyana (1)
Trading could have some level of high risks depending on how long we intend to stay in the market and the amount we are using to trade in the market. Trading is more of preparation and not just entering the market to make profits for ourselves when we are not ready to do what will attract more wins for us. What we need to know about trading can be huge or less depending on the kind of trader that we are or the kind of market that we plan to trade. Different market will attract different profits and pattern in which we can use to trade and make profits from the market.

The risks of the market can come at any time, it might happen as you enter the market or happen later that's why it's good we have stop loss orders in place to help reduces our exposure to the market as the volatility can make the price of any cryptocurency we buy to fall and when we don't have stop loss in place it exposure us to more demange. Any beginner that wants to trade need to know trading isn't gambling that he'll just be trying his luck.

If you don't understand the market and you enter a trade, you'll lose. Trading need training and discipline to come out successful in any trade that you open. Trading need practice and experience that's why the more you stay in the market, the higher your experience gets and you can make better decisions than new members as they're yet to understand how the market works. As a trader you have to be fully prepared for the market therefore having funds available always to open a trade.