Tiema
Frequent Trader
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Trading rules that I learned through my personal experience (PART 2)
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1# Do Your Own Research
Some people might tend to follow others to get information and believe eveything they say . DON'T do this , eveyone has their own methods to research , you should search for articles and educational content without relying on others doing research for you.
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2 # Emotions Are Your Worst Enemy
I've been there. Many times I've said to myself that "this coin or that coin is the bomb , I should invest right away" , those were rational decisions based on emotions and cost me a lot . Always follow patterns instead of emotions.
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3 # Diversify Your Portfolio
You should always have many coins in your portfolio , whether you're trading spot or futures . In case one of them went down , there would be a higher chance that others would go up .
__________________________
4 # Learn from Every Trade
You will make mistakes each trade , learn from them instead of being fraustrated . Those trades are the most valuable ones. If you had followed you emotions in one of them , learn to follow patterns the next time.
__________________________
1# Do Your Own Research
Some people might tend to follow others to get information and believe eveything they say . DON'T do this , eveyone has their own methods to research , you should search for articles and educational content without relying on others doing research for you.
__________________________
2 # Emotions Are Your Worst Enemy
I've been there. Many times I've said to myself that "this coin or that coin is the bomb , I should invest right away" , those were rational decisions based on emotions and cost me a lot . Always follow patterns instead of emotions.
__________________________
3 # Diversify Your Portfolio
You should always have many coins in your portfolio , whether you're trading spot or futures . In case one of them went down , there would be a higher chance that others would go up .
__________________________
4 # Learn from Every Trade
You will make mistakes each trade , learn from them instead of being fraustrated . Those trades are the most valuable ones. If you had followed you emotions in one of them , learn to follow patterns the next time.
Focus on small steps always
Don't aim at getting $100 profit out of $10 investment with one step.
Do it gradually, one step at a time.
Go from $10 to $20. Then $20 to $40 and so on.
Don't aim at getting $100 profit out of $10 investment with one step.
Do it gradually, one step at a time.
Go from $10 to $20. Then $20 to $40 and so on.
$BTC is falling after I though it will soar. I think this is due to the #IsraelIranConflict
. Do you think it will go up again?
. Do you think it will go up again?
Hello guys,
I will share some of trading rules that I learned through my personal experience . $$
I have bought and sold many coins since last year and had my ups and downs , I can say that I have learnt valuable lessons .
PART 1
1# Start Small and Scale Gradually.
Always start with a small amount especially if you are a beginner . Starting with a large amount and losing it might cause extreme frustration. After getting the needed experience, you can gradually increase your investement .
2# Never Invest More Than You Can Afford to Lose .
If you had $1000 dollars and it's everything you have , you will lose literally everything if you invest all of it.
you should always invest a partial amount of what you got so that you can afford the cost in case of losing.
3# Always Use Stop-Losses .
I have invested wthout setting a stop loss before and that cost me all my investment because I was greedy .
Don't let greed stop you from getting out at the right time .
4# Don't Chase Pumps.
I've done this before , I chased #KIMBO pump which cost me $700 dollars . I bought $900 of #KIMBO when the pump had already finished . Twitter had filled with posts talking about reaching the moon with this coin so I followed the trend. It eventually went down hill, and I sold it when I had $200 only .
Stay tuned for PART 2.
I will share some of trading rules that I learned through my personal experience . $$
I have bought and sold many coins since last year and had my ups and downs , I can say that I have learnt valuable lessons .
PART 1
1# Start Small and Scale Gradually.
Always start with a small amount especially if you are a beginner . Starting with a large amount and losing it might cause extreme frustration. After getting the needed experience, you can gradually increase your investement .
2# Never Invest More Than You Can Afford to Lose .
If you had $1000 dollars and it's everything you have , you will lose literally everything if you invest all of it.
you should always invest a partial amount of what you got so that you can afford the cost in case of losing.
3# Always Use Stop-Losses .
I have invested wthout setting a stop loss before and that cost me all my investment because I was greedy .
Don't let greed stop you from getting out at the right time .
4# Don't Chase Pumps.
I've done this before , I chased #KIMBO pump which cost me $700 dollars . I bought $900 of #KIMBO when the pump had already finished . Twitter had filled with posts talking about reaching the moon with this coin so I followed the trend. It eventually went down hill, and I sold it when I had $200 only .
Stay tuned for PART 2.
Hello guys, I would like to share my unseccessful experience with future trading. A few months ago, I had $50 of $ADA , I joined a long trade in futures and turned it into $150. I was really happy so I got excited and kept trading until I had $570 just from futures trading. Then I thought should I take the money or trade again. "All or nothing " or at least that's what I thought. Back then, $ADA was soaring so I thought I must join, long, 50X,which was a great risk, but I thought $ADA would never go down under 0.80 cents. Unfortunately, it did, and I lost all my money. The moral : don't trade in future unless you have great experience or with small amount of money.
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