As Life Comes
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Dont lose money in trading. I learn the hard way, but you shouldn't!!!
When I first traded it in November 2024, the market was volatile(price movements were so frequent)
I spot traded the XRP coin and in a short a time moved from 500 usdt to 600 to 700 but before I reached 800.
Disappointments started.
I started losing the profits I had made not the capital. Regardless, this was discoursging because I had financial struggles.
I stopped trading.
Then started paying attention to the posts on Binance square in which people shared signals.
Deep within me, I knew, that if I learn trading it will be the easiest I will make money in my life time.
Outside Crypto, I am an entrepreneur and developer but my business is not well and my remote job of managing a laravel server is not sustaining me.
I decided to learn trading as a professional.
Here are the donts before you execute that next trade. I learnt the hard way.
1. Don't think that the market is manipulated against you alone. It is manipulated against you and other 3% traders. The other 97% are institutions with huge investments. They buy big at Dollar Cost Averaging. So when they move out the market goes on its knees.
2. Don't trade before learning to identify market trends on the charts. These trends are 3. That is to say; Uptrend, Consolidation and Downtrend. They can also be called Bullish, Correction and Bearish.
These are vital because if I had known, I would have stopped at 700 and pulled out. But I kept making entries. So whenever the coin I traded reduce in price value, my own investment lost value. I wish I knew about the MACD, RSI, and EMA indicators.
3. Trading when you're not sure about the coin pair. To know about the coin pair you must do your own research. You must know which coin is the volatile one and which one is stable.
This way you trade with reduced pressure and your chances of succeeding are high.
4. Trading without knowledge about demand zones, supply zones, fair value gaps and spot loss. These help you discover better areas of entries and exits.
#TokenMovementSignals
When I first traded it in November 2024, the market was volatile(price movements were so frequent)
I spot traded the XRP coin and in a short a time moved from 500 usdt to 600 to 700 but before I reached 800.
Disappointments started.
I started losing the profits I had made not the capital. Regardless, this was discoursging because I had financial struggles.
I stopped trading.
Then started paying attention to the posts on Binance square in which people shared signals.
Deep within me, I knew, that if I learn trading it will be the easiest I will make money in my life time.
Outside Crypto, I am an entrepreneur and developer but my business is not well and my remote job of managing a laravel server is not sustaining me.
I decided to learn trading as a professional.
Here are the donts before you execute that next trade. I learnt the hard way.
1. Don't think that the market is manipulated against you alone. It is manipulated against you and other 3% traders. The other 97% are institutions with huge investments. They buy big at Dollar Cost Averaging. So when they move out the market goes on its knees.
2. Don't trade before learning to identify market trends on the charts. These trends are 3. That is to say; Uptrend, Consolidation and Downtrend. They can also be called Bullish, Correction and Bearish.
These are vital because if I had known, I would have stopped at 700 and pulled out. But I kept making entries. So whenever the coin I traded reduce in price value, my own investment lost value. I wish I knew about the MACD, RSI, and EMA indicators.
3. Trading when you're not sure about the coin pair. To know about the coin pair you must do your own research. You must know which coin is the volatile one and which one is stable.
This way you trade with reduced pressure and your chances of succeeding are high.
4. Trading without knowledge about demand zones, supply zones, fair value gaps and spot loss. These help you discover better areas of entries and exits.
#TokenMovementSignals
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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