Post
Topic
Board Nigeria (Naija)
Merits 1 from 1 user
Re: Lack of full knowledge could lead to lost of Assets in trading
by
Joeboy
on 08/08/2025, 16:38:16 UTC
⭐ Merited by CryptopreneurBrainboss (1)
A friend of mine embarked on trading without a proper mentorship and lost all his assets.

So I want to ask? What are the criteria’s to become a good trader?
Know this losses in trading is inescapable. You can apply every single strategy listed below and still end up in loss. What matters however is your ability to mitigate and control this loses through Solid Risk Management. Heere are a few tips that can help out im becoming a goodd trader.
1) Education: Before you put your money into any trade, take your time to learn how the market works, how to read charts, and how to manage risks. Learn with a demo account before switching to an actual account. You can be properly educated about trading through watching of trading video or better still having a good mentor or coach( not those bunch scammers posing as mentors that post screenshot of only their profits on Whatsapp and Telegram)

2) Risk Management: You don't have pack all the money inside your bank account to trade. Never invest or risk more than the amount you can afford to loose. And also make use of stop-loss you help protect you trading capital in cases where the market goes sideways

3) Patience and a solid strategy: Trading is a get rich quick scheme or game, so avoid chasing quick profits or acting based on emotional influence. Have a tried and tested plan for each trade and then stick to it, don't trade based on guesses or hunches.

4) Continuous learning: You can't become a good trader in one dar even in one month this is because the market is dynamic i.e it changes from time to time, so keep updating your knowledge and learning from both your profits and loses.