You are right, @op. People keep changing strategies because they are trying by all means to avoid losses, which is quite impossible. Trading requires consistency in addition to the skills and knowledge already acquired. No matter how good a strategy may be, there will still be some bad days when losses are unavoidable.
For those who are still trying to find the best strategy to minimize their risks and maximise profits, they can start with a small capital. Then, over time, when they find what works for them, they can scale up.
Changing strategy will never make you a profitable trader, it is just like one who happens to be jack of all trades and master of none. Keeping up with one strategy is the best and when you stick to it, you can make it in trading faster because you get to master the skills more and more. Learning makes perfect and when you’re perfect at it, it becomes stick to you and a knowledge you can never do without. Sticking to one strategy is what most profitable traders are onto and they’ve made it far while using that one strategy. This gives you ample time to become better and become better in your trading. One strategy is enough to be a profitable trader.
In trading, you have to accept that you have to change your strategy because you cannot keep up with the changing market system by applying the same strategy. For example, you may want to buy a currency and you see its future prospects very good, but you are very afraid of losing your capital, in that case, you have to think about what decision you will make and if you follow the process with which you are familiar, you will not be able to apply your capital correctly. The reason for this is that your capital will be in a very risky state and you have to analyze the amount of capital you will apply and what will be the period and you have to change your strategy. To be successful in trading, you have to apply different strategies according to the coins and change the holding period of these currencies at different times.
Everything is risky, but when it comes to trading, people need to be very vigilant. Before they start trading, they should do their research because the risks are supposed to be known before they even start. You know the coin you want to trade, and you can trade other coins, then hold Bitcoin, and business can be very easy that way, because when you are investing in Bitcoin, it helps a lot so that you have another form of investment other than focusing only on trading. Because when you do, holding Bitcoin for me is
In fact, nothing is risk-free, every subject has its own risk according to its own type, but you have to reduce that risk by managing it, or reduce the risk by managing it properly. trading is a risky field, you have to gain a lot of skill here, that is, if you do not gain full skill, then the possibility of loss from it is high, but if you learn trading for a long time, and gain skill here, then can't you reduce the risk of trading by using your skill? Of course. Although trading is risky, but it is never impossible to achieve success from it, many traders have changed their fate through trading, they have made themselves skilled over time, so you have to work hard here, with hard work, patience and willpower you can definitely succeed here.
Risk is part of our everyday like and thisnisnthe reason why we have risk in all that we do, majority of the time that we hard some few risk free things was when we still kids were we can jump and never thinks about risk because we dont know what risk and fear was at that time, trading is one aspect of the market thaz have high risk and for that we need to be caution while approaching trading and what we expect from our trading, regardless if you are trading or just holding bitcoin as an investment, you should know that all have it own unique risks.