Simple practices to improve trading.

[Crwth]

Thank you for sharing your insights OP. It's always best to practice the things that you have input with. It's important to embody this and make sure that you follow it. The best thing a trader could do is assess your risk management. How much you are going to invest per trade and how you are going to limit your trades.

There are some groups that will help you and calls are up to you if you will follow or not.

[Faisal2202]

- Do not focus on too many cryptocurrency pairs.

These are good some really good points, although when I was a newbie in trading, I was also not so focused to too many crypto pairs. I kind a stick to Gala and Dydx. Before that, I was into future trading, and I was focusing on many crypto pairs. Which I think was a bad choice. Even if we want to stick to more than one pair, then we have to change our trading type. I prefer spot trading for too many crypto pairs and future trading for one or two crypto pairs.

Overall, I don't recommend future trading to anybody, especially to newbies. Because its a little risky and you can lose your funds if a newbie or do not have enough knowledge about the market. When I tried to focus on more than one crypto pairs in spot trading after learning it, I realized diversifying your portfolio is the most necessary thing because it's a risk-managing technique that we all should follow to minimize the lose and increase the profit.

[Learn Bitcoin]

Some traders who have the money to risk in learning, skip that process, and practice on the live market with very little lot size. This approach teaches them the emotional side of trading too.

Also, it depends on the trader's wealth. Even though it is recommended to have enough funds to recover your trading losses, some traders start with a very minimal amount and if they lose it, they will be in trouble. For such cases, these traders should try the demo trade first because losing their trades will be difficult for them.

Even though it is recommended not to trade if someone cannot afford to lose, but, people want to make money with their minimum investment. Demo trading is a must for them. It will help them learning many things and help them minimize the risk of losing trades.

[BitMaxz]

This part "- Whenever you loose in trading, always return back to find out the reason why you failed."
Learning from my mistakes helps a lot go back to my old analysis and check what I did wrong if I did the analysis well or you just too greedy.
Also one of my mistakes in trading is chasing the spikes is very worst decision unless you have done analysis and always enabled the stop-loss because sometimes spikes make you lose much if you didn't set a stop-loss.

[Best]

I don't know why, no matter how many things I learn from trading, whether it's material that is quite easy to understand or analysis that is quite heavy, for me, it doesn't really matter. It's nothing, but I really can't afford it. ha ha

So, betting is so complicated, I think I've tried it. indeed sometimes it is very fruitful. I tried to analyze the market using several techniques. But in the end, it made me even more confused. I even used VIP trading signals. However, it still can't be optimal. So it's possible that my passion is not in trading, because it's still difficult to follow the method or understand trading analysis very accurately.

Indeed, trading is not the only way to make money.  I don't know why you experience all this, I think you should just take a deep breath and find out why you seem not ro understand analysis. Maybe you kept telling yourself you can't do it or something.

But if you have passed that phase. You can venture into this other investment method which I talked about here. Like the premarket and other stuff. I hope it helps https://www.altcoinstalks.com/index.php?topic=320417.msg1540042#msg1540042

[Tristanerus]

Think of trading like fishing. You've got to have a good plan before you head out-know what bait to use, find the right spot, and don't rush. Just like you wouldn't spend all your savings on a fishing trip, don't put all your money into one trade. Keep learning the tricks of the trade, start small, and be patient. Write down what works and what doesn't, so you can get better over time. Basically, be smart, keep learning and don't risk more than you can afford to lose. That's how you keep your wallet happy in the long run.

[yhiaali3]

Thank you for the good trading tips, there are a lot of good tips mentioned by you and the rest of the members. But in the end, experience remains the true criterion for success or failure.

For me, the golden advice for all traders is not to risk more than you can afford to lose, and also to be patient and not to rush because trading requires a lot of patience.

Controlling emotions is very important for traders, especially fear and greed, because they are the two emotions that whales use to manipulate the market, so it is very necessary to control these emotions so that they do not cause you major losses.

[Learn Bitcoin]

For me, the golden advice for all traders is not to risk more than you can afford to lose, and also to be patient and not to rush because trading requires a lot of patience.

Unfortunately, Not many of us follow this advice. I am not a regular trader. But I used to gamble a lot. This advice applies to gamblers as well. Because the gamblers also risk their money on casinos. Most of the time I give this advice to other gamblers but my ass cannot follow it when it comes to myself. I end up betting max and losing money, which I cannot afford to lose.

Controlling emotions is very important for traders, especially fear and greed, because they are the two emotions that whales use to manipulate the market, so it is very necessary to control these emotions so that they do not cause you major losses.

Controlling emotions develops with the experience of trading and maturity. I remember I cried just because I lost $1. But, I don't have that feeling even if I lose a couple of hundred dollars because now I am more mature than before.

[LUCKMCFLY]

Think of trading like fishing. You've got to have a good plan before you head out-know what bait to use, find the right spot, and don't rush. Just like you wouldn't spend all your savings on a fishing trip, don't put all your money into one trade. Keep learning the tricks of the trade, start small, and be patient. Write down what works and what doesn't, so you can get better over time. Basically, be smart, keep learning and don't risk more than you can afford to lose. That's how you keep your wallet happy in the long run.

I agree with what you say that before doing anything you have to have a plan, for trading there must always be something so that we have our strategies, from having the money ready to do trading as well as the number of operations to do per trading session, when I trade I divide it into 3 motives, if I win in the first one, then perfectly I do things as they are and wait the next day, if I see that I don't win the first movement, then I make the second movement with the money enough to recover the loss of the first one and come out positive, and if I do the 3 I must recover the loss of the first 2, if I can't do it I give up, because I know that I am not seeing the trading correctly, my vision market is very far from reality, and I have to change my analysis, strategies, even try to understand.

[pacar_tiri]

I agree with what you say that before doing anything you have to have a plan, for trading there must always be something so that we have our strategies, from having the money ready to do trading as well as the number of operations to do per trading session, when I trade I divide it into 3 motives, if I win in the first one, then perfectly I do things as they are and wait the next day, if I see that I don't win the first movement, then I make the second movement with the money enough to recover the loss of the first one and come out positive, and if I do the 3 I must recover the loss of the first 2, if I can't do it I give up, because I know that I am not seeing the trading correctly, my vision market is very far from reality, and I have to change my analysis, strategies, even try to understand.

That's right, everything has to be planned well, if what you planned at the beginning doesn't match your expectations then you have to be ready with a backup plan, so never stop in the middle of the road, everything we want won't be easy to get, it's hard work. hard will give very satisfying results.

[milewilda]

I agree with what you say that before doing anything you have to have a plan, for trading there must always be something so that we have our strategies, from having the money ready to do trading as well as the number of operations to do per trading session, when I trade I divide it into 3 motives, if I win in the first one, then perfectly I do things as they are and wait the next day, if I see that I don't win the first movement, then I make the second movement with the money enough to recover the loss of the first one and come out positive, and if I do the 3 I must recover the loss of the first 2, if I can't do it I give up, because I know that I am not seeing the trading correctly, my vision market is very far from reality, and I have to change my analysis, strategies, even try to understand.

That's right, everything has to be planned well, if what you planned at the beginning doesn't match your expectations then you have to be ready with a backup plan, so never stop in the middle of the road, everything we want won't be easy to get, it's hard work. hard will give very satisfying results.

You would really be needing that back up plan because there are tons of variations or ways or possible paths on which this market could really be going and this is why it would really be that a bad idea that you would really be making yourself fixated into something or into your analysis believing that it is absolute, because on the time that you would really be having this kind of approach
then you are just that basically that making yourself putting into that huge disappointment and frustration once you have seen that your analysis had been dumped
by the market.You would really be that needing to be versatile as much as possible of course.

[LUCKMCFLY]

I agree with what you say that before doing anything you have to have a plan, for trading there must always be something so that we have our strategies, from having the money ready to do trading as well as the number of operations to do per trading session, when I trade I divide it into 3 motives, if I win in the first one, then perfectly I do things as they are and wait the next day, if I see that I don't win the first movement, then I make the second movement with the money enough to recover the loss of the first one and come out positive, and if I do the 3 I must recover the loss of the first 2, if I can't do it I give up, because I know that I am not seeing the trading correctly, my vision market is very far from reality, and I have to change my analysis, strategies, even try to understand.

That's right, everything has to be planned well, if what you planned at the beginning doesn't match your expectations then you have to be ready with a backup plan, so never stop in the middle of the road, everything we want won't be easy to get, it's hard work. hard will give very satisfying results.

You would really be needing that back up plan because there are tons of variations or ways or possible paths on which this market could really be going and this is why it would really be that a bad idea that you would really be making yourself fixated into something or into your analysis believing that it is absolute, because on the time that you would really be having this kind of approach
then you are just that basically that making yourself putting into that huge disappointment and frustration once you have seen that your analysis had been dumped
by the market.You would really be that needing to be versatile as much as possible of course.

Well for me these things have always given me a lot to talk about, personally I have always said that when it comes to trading one has to have a very cool head, that is, if something doesn't work, I have to Solve it elsewhere , or wait, until you have the correct vision of the market , sometimes it is better to leave with a loss but understand why you lost and then go in with Everything to be able to win, that is my way of thinking, but always taking into consideration that I know What I am doing, the rest is not something that I consider so as not to have to do things as if it were gambling, Gambling in trading is the worst thing there is.

[rizqillah]

I agree with what you say that before doing anything you have to have a plan, for trading there must always be something so that we have our strategies, from having the money ready to do trading as well as the number of operations to do per trading session, when I trade I divide it into 3 motives, if I win in the first one, then perfectly I do things as they are and wait the next day, if I see that I don't win the first movement, then I make the second movement with the money enough to recover the loss of the first one and come out positive, and if I do the 3 I must recover the loss of the first 2, if I can't do it I give up, because I know that I am not seeing the trading correctly, my vision market is very far from reality, and I have to change my analysis, strategies, even try to understand.

That's right, everything has to be planned well, if what you planned at the beginning doesn't match your expectations then you have to be ready with a backup plan, so never stop in the middle of the road, everything we want won't be easy to get, it's hard work. hard will give very satisfying results.

Even though we already have a plan at the beginning, we often change plans in the middle of the road, this is a common occurrence. When trading is the same, strategies can change but you must remain focused on the goal of trading, profit. And emotional management must also be maintained, don't be greedy

[bayu7adi]

The points mentioned are good and I think they are all needed to upgrade our trading skills so that we remain traders who are more careful and can make wise decisions.
Even though I am not a day trader, my experience of failure in cryptocurrency trading also has something to do with the points mentioned in this topic.

[Aanuoluwatofunmi]

As a newbie, don't make things get complicated for you at first place place, you will quite agreed that you're likely not going to be good at every sides being a beginner, so you should know and have it at the back of your mind that you're expected to learn and get used to the way things are been done, which will be also part of your learning experience, before you can be going dipper in complicated trades and pairs.