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Cryptocurrency Trading / Re: This bad habit will cost you a lot in trading
« Last post by $crypto$ on Today at 01:00:42 PM »Yes, that is something that must be done, because if we use money that we cannot afford to lose, then we will feel emotional when we experience a loss.Risking what you can afford to lose is just the point. Even with SL and TP we still need to acknowledge risk management to avoid your capital getting swept by the market. Trading with risk management will really help and keep you going in trading and it will help and protect your money and make you feel safer.[Experience that will make us ready for all conditions in the crypto market. With knowledge and experience we will have a good mentality.
Peace will be obtained if we are indeed ready for all possibilities that will occur, but if we are not ready for all that, then we will continue to panic and maybe we can't even sleep because we keep thinking about the market.
That is why it is highly recommended for someone to have a very good mentality when putting their money into the market and the mentality will only be owned by people who are truly ready.
I remember many people's messages, use money that we can afford to lose so that we don't panic and have a good mentality.
Having knowledge will give you higher probability over your capital and you will have much higher chances over the market cause knowledge is the perfect key in every situation both trading and also investment. Investing or trading on what pair you have knowledge about will really guide your investment and help you achieve better goals.
On the other hand, if we use money that we are ready to lose, then we will be able to accept it more when we experience a loss. Disappointment is certain, but that disappointment will not make us frustrated.