Reading the posts, I noticed that very often there are messages about a person entering a position and it suddenly went into the minus, and someone even lost their deposit! Some ask for advice on whether to close their position in the minus or wait a little longer. There are a lot of caustic comments, like: "If you have nowhere to put your money, then you should have given it to me" and things like that. Many comments with words of consolation, and, accordingly, advice! It is interesting, of course, that many pour into a position, and only when they go into the minus, they begin to look for advice and tips. At the moment when first of all it was necessary from the very beginning to understand everything in detail and only then start trading!
But I was not prompted to write this article to reproach or humiliate anyone, or, even worse, God forbid, to show off; not at all! I know that everyone who has ever started trading has sifted through a bunch of articles, read a lot of books on trading, and I can say that everyone has had losses. There are no people who entered trading and immediately became a millionaire without having made mistakes and without losing a lot of time and money before they started to achieve something in this area. I will try to share my experience, maybe it will be useful to someone, and will save someone from losses: both financial and nervous, well, and temporary. By the way, if anyone wants to add something to what has been said below, welcome to the comments to the article. Perhaps your advice will save someone from this or that loss, and someone will be grateful to you for this in the future, I hope.))
So, let me begin, I suppose! ))
To begin with, I would not advise beginners to trade futures with high leverage at all, but would anyone listen to me? It's obvious that they won't. But I insist on this, and then don't tell yourself that you've never heard this advice! There is a time when it's better not to enter into trading at all, and it's best to wait it out, no matter what anyone tells you or what you hear. Traders usually call this time "sitting on the fence"! That is, waiting out certain events when the market is anticipating something. Well, let's take the 2024 US elections for example: at this time, the market is very unstable, and accordingly, there is high volatility! This applies not only to elections, but also to any cataclysms, wars, political instability and any upheavals on a global scale! I think the point is clear!
To accumulate your first capital, after which you will be able to afford to throw money around on futures with 100x leverage, I would advise you to start your (or rather, your) path in trading with spot! With regular spot trading! I call it this way: "The patient one takes for free what the impatient one pays for." You are patient, right? I hope so))) So, spot! Let me move on to advice, otherwise you will start cursing me in the comments for verbosity without substance, which I really do not want.
Tip number 1:
At a high Bitcoin price, collect a deposit! To buy on the collapse in the form of stablecoins for your reserve fund in future falls! Sell 1/3 on growth, buy more on decline!
Tip number 2:
Do not use the entire reserve fund for buying (or, accordingly, when Bitcoin has gained) for selling, since Bitcoin can fall even lower or grow higher! It all depends on what stage you were at! Divide savings into 2-3 purchases.
Example: You have accumulated a reserve of $3000!
Let's take a drawdown (the same method can be applied to growth).
You create a buy order for $500 when Bitcoin is at $30,990, then $750 at $29,990, then $750 at $27,990, and finally $1,000 at $24,990. Of course, it won't all happen right here and now. Remember what I wrote above: the patient gets for free what the impatient pays for! No one will ever be able to predict the bottom or the peak of the market for you 100% - that's a fact, you can't cut it out with an axe! You need to teach yourself to overcome fomo (Fear of missing out) and keep your greed in check!
Do not invest your entire reserve in one trade under any circumstances, as the price may continue to fall or rise!
Tip number 3: Exit strategy!
Two subtypes: risk-free, loss-free and profitable. Depending on whether the market is going up or down!
Example: I invested $1,000 in BTC, and the investment grew to $3,000. What do I do? That's right, I sell a third of it and get back $1,000, and leave the remaining $2,000 in BTC.
I know that if you stick to this strategy, you can avoid disappointments in trading!
Many people, losing everything, start cursing crypto and leave it, shouting at every corner that cryptocurrency is a scam, thereby deeply misleading those people who have not yet learned about crypto! Blockchain is like an ocean: as wide as it is deep. The further you swim, the more you learn; the deeper you dive, the wiser you become.))
Physically and mentally, I simply cannot tell everything about trading, because I think books should be written about it! And, perhaps, let truly competent people do this. In turn, I just wanted to make a little contribution to this issue! Of course, I did not come up with this, and I also learned it from someone else. I want everything that is useful to be passed on along a chain, like in a blockchain. Pass it on to someone else, and we will become more literate in this matter, and together we what? That's right, strength! On this, I think I will end my demagogy. I wish everyone to achieve what they strive for, and from myself I wish you less disappointment, cryptans! And may Bitcoin be with you (or better yet, 2 Bitcoins)!
