Tips 4 Things I Always Tell Myself When Trading

Discussion in 'Bitcoin Investments | Discussions' started by Emma24, Jun 18, 2017.

  1. Emma24

    Emma24 Active Crypto Guardian

    Hello Jackobians, am not a trading expert but this are things I always tell myself when ever am trading and it's been work fine for me so have decided to share with you guys.

    1. Do not Over-Trade
    Basically, this means that i don't get myself indulged much into the market that is whatever amount i earn is going to the commissions or exchange fees.
    My basic target of buying a crypto is basically, 10 to 15% though it also depends on when my target is achieved and what does the charts say. If the chart shows uptrend I may hold on to it, If there is much anticipation but levels are higher with out resistances, I will get out of it.

    2. Don't Pick Tops
    Every time there is an uptrend in the market, i never try to book profit or shoot on tops. I would say that there is no harm to book profit in a crypto at predefined levels. If my sold price matches the top price then am lucky but i don't expect this to happen every time. So is better to play Smart.

    3. Trade with NO- Regrets
    Suppose am buying BTC or ETH or any other coin or token i have to manage my trade in ways that even if the market crashes against my buying or it goes up and giving me crazy returns (even if i sold early) i am not gonna regret trading.
    Here is how it works:
    Assuming I bought a coin at $0.70 then after a gain of about a couple of dollars, I sell off my significant amount of earning a predefined profit percentage, just to ensure I don't regret even if the market crashes ahead. Though I do hold some of the coin, any how it goes I still make my profit.

    4. Don't chase HYPE, ANTICIPATE it
    Trading is like chess, you always want to forecast and anticipate all the future moves your opponents can throw at you, and here your opponent is the market. So again you should anticipate hype. Now, some of us might have entered the market just now at all time market highs and most of us would have questions, What to buy? and What not to? or maybe When to buy?
    Well here is the answer yes you can buy now as well (only after doing your own research and homework), But you would have to give yourself enough room so that if there is a market crash or a little bit of correction in the market you can buy at lower levels.

    Now, always having a little bit more to buy at lower levels is proved to be good in two ways:-

    • You can average it out once the market bounces back.
    • Even if the market doesn't bounce back to the initial buying levels, you at least have an amount for trading and make some profit targeting 5 % margins to cover up some loss.
    Happy Trading!!
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  3. Emma24

    Emma24 Active Crypto Guardian

    I hope you find it helpful
    Chidokwe Emmanuel and Saheed23 like this.
  4. Saheed23

    Saheed23 Jackobian

    Tanks bro I really needed dis
    Emma24 and Prezzy like this.
  5. Well done Emma24
    this should help the newbies
    also the old cargos in the house:tumbsup:
    Emma24 and Prezzy like this.
  6. Prezzy

    Prezzy Leader Protector

    @Emma24. more of such please! see what you can do today.:rose:
    Chidokwe Emmanuel likes this.
  7. Emma24

    Emma24 Active Crypto Guardian

    Am glad u find it helpful