Beware of overtrading: that is when mistakes are made. Don't get greedy, if your strategy works, the laws of probability are on your side.ġ2. Crypto traders seem ballzy and generally go for 10% of their balance. Traditional traders only trade 2% of their entire balance. Remember, we want to be like the bots and trading algorithms.ġ1. Greed will make you lose a lot of money, as it is a powerful emotional state. Understand that institutions control the money in this game and all you are doing is following the wind.ġ0. I like Marcpmarkets personally but you only need to watch his predictions for this month to see how bad it turned out. ![]() IMPORTANT: Do not TRUST ANY youtube traders or traders on tradingviews for your calls, even the best of the best make mistakes, and are only right a maximum of 70% of the time. When you are good at trading, don't accept to trade for friends, it will emotionally drain you knowing you are responsible for other people's money.Ħ. Many retail traders limit themselves to 10k because of this.ĥ. When you get good and start making money, don't make the mistake of playing with too large of an amount, as it will influence your emotions. Good traders turn $100 into $1000, easy, you are still learning and want to be able to reach that point with minimal losses.Ĥ. Idea is to keep playing with the money you made, not the money you originally invested. After you double your money from $100 dollars, you can withdraw $100 and continue playing with the remaining $100 that is pure profit. Only play with a small amount at the start: if you lose $100, it is not a big deal.ģ. Trading is supposed to be boring, if you are winning that is.Ģ. You are supposed to feel bored or completely neutral. You are not supposed to feel too excited or too fearful when making a trade. Many of the things below sound basic, but trust me, you are going to make all these mistakes.ġ. Psychology is the most important part of trading, and if you haven't mastered it, you will make all the wrong calls. Having a strategy that yields profits overtime. There are three main components to trading:ġ. I'm by no means successful myself, but here is what i learned. If I had to start all over again, i'd want someone to impart some good trading habits into me. As a new member, i feel like offering you some advice before you enter this crypto game and start losing money.
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