How to Minimize your Risk in - Crypto Trading

in #cryptotrading3 years ago (edited)

Hello all Steemians,
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I hope all you are doing well and earn a decent income from Crypto Trading. But few things you must always in your mind while trading in Cryptocurrencies or investing in. As you know that this market is too volatile and can ruined you and you can loose your all of hard earned money that does not means that you have not been involving in crypto trading do but with proper guidance and proper goal.
There are few example that will blow up your mind:

  • Bitcoin started with $0.001 and it’s highest price reached at more than $19,000 and again drop more than 200% so if any newcomer enters on that price than he will surely says that Crypto investing is bad and who have buy at below $5,000 price than he thinks that Crypto trading is better than any other investment.
    So you must learn from this movement that you have clearly known your entry and exit time.

  • Invest only in top Crypto currency like Bitcoin, Ethereum, Litecoin, Ripple and other top 20 currency only. Never go in any ICO investment and also choose best Cypto trading platform like Binance, Bittrex etc.

  • Never do leverage trading if you have not any professional knowledge about derivative trading and how it works.

  • Do not waste your time in any signal website or telegram channel just improve your own technical analysis skill on Tradingview platform which is free to use basic function and even many premium also.

  • Always use stop loss the golden rule of trading is “ Minimize your loss profit automatically generated” so before put any trade you must clear about your stop loss and profit limit this will resist your loosing all money.

Thanks for visit my blog.

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lijep post, to bi stvarno pomoglo ljudima da znaju više o dobivanju profita na kriptoteku.

Hvala ti prijatelju

samo kupi i nemoj da prodajes,drzi dugo poziciju,ne plasi se pada bitcoina

ti kupujes zlato i to se cuva ,kada dodje na 1000 posto profita prodaj pola ,poziciju drzis 5 do 10 godina

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I wish I knew those things a couple years ago!

Don't remember past and only learn from it.

already started...

Good to new commers.
follow @miniearning for updated crypto world.

@ajaygautam As per my view Choose what cost will be your stop-misfortune cost before you begin any exchange. Since the movement happens on the blockchain it will stay open and straightforward, however it offers a layer of insurance against instability.

I don't think so

You are very intelligent but i don't agree with one of your thoughts u said only invest in top currencies thats not a good deal bcz there Mcap is already at the How to Minimize ur risk and loss we r here for gains not for technology i don't say tech is useless crypto is revolution but we also need to buy new undervalued great projects that how we gain insane amount of profits

That's how I was feeling about it too. Sometimes betting on a small coin pays out. This post has a good set of guidelines for people just getting into cryptos

You are right but i should want to say who have not research on any new coins and invested if you are professional trader than you must know parameter of become a good coin in future but not for new comer.
These points apply only on newcomers so they can not persist or take any loss of their hard earned money.

Thanks for alerting some points for investing in crypto and ICOs,
Thanks Again

For me I find that if you must be a successful trader you must be willing to learn( market psychology, etc) and also devote time, lots of time.it takes time to sieve through the news and spot an upcoming bull, it takes time to do fundamental and technical analysis. If you can't commit I'd say just stick to buying and hodling.

News also affect the price and also decide(sometime) bull/bear market but before than newcomers must learn basic or fundamental and technical analysis like chart, candlestick and indicators.

I know how to minimize stress when trading cryptocurrency.

Dont do it yourself. Do it like me and get a trading cat.

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I only invested around $700 and I once had the prices up on all markets and I was WOW over $2000 in total, then when markets crashed I am back to less that $596. I am not expert at trading but I was overwhelmed about the cryptocurrency and I am extremely disappointed now :(

This post has received a 14.33 % upvote from @boomerang.

nice post , it would really help the people to know more about making profits on cryptocurrency .

You got a 13.92% upvote from @postpromoter courtesy of @ajaygautam621!

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Good post Bro. Please how do I make payments to @byresteem please

First follow him and than send from wallet

Mast welcome your post is very fine.beautiful and wonderful post

you are very right @ajaygautam. crypto trading has gone very common these days. everyone is trying show himself as an expert in this field. but one should do his maths and learn the previous stats to get involved in trading crypto. understanding cryptocurrencies is very difficult and anything can happen. so we should invest which we can afford to lose
nice blog btw

Thanks for this information and tips, this type of short and direct post are very good congratulations and good luck

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thanks for your useful post

It will surely help a lot of people

Thanks @preetika for inspire me to do best

thanks for this tips. i am from india and please suggest low value crypto which is best to invest for long term. now a day bitcoin is quite expensive and high risk. pls reply

You can HODL some low price coins and must check that coins have been listed on the top exchanges some coins you can HODl that is BCN(Bytecoin), Dogecoin, Siacoin, Bitshare, Digibyte, TRX, XVG, and Stellar and you can also done your own research. But these coins may increased your portfolio dramatically.

thanks sir for your reply.

which wallet is secure and trusted for transaction

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Well said @ajaygautam621 above points are very useful and if anyone follow then he can make the most out of it. One point I want and that is- like you said don't invest on ico then also don't invest on MLM coins as they just come in the market to grab money. Don't trust in any MLM no matter what white paper and project they show. If you follow this then you can save your heard earned money as mlm never give you profit.

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Yes bro leverage tradeing is very risky
Like gambling
Great informative post
Well done bro

Simple, but well said

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I endorsed your statement, we should use stop-loss.. I didn't use stop-loss in past and I am left with 1 BTc to 0.30 BTC.

Stop loss just like a barrier for maximum risk you can take if your goal of profit is not clear than you may decrease your portfolio.
Best of luck and i wish that you will recover your loss.

Thanks for the info....But I think that you should use Telegram at least for keeping up on what is going on in the different ICO's and Faucets. You should always research and Telegram can help with some of that.

Yeah! Right @psimpson telegram can use for the updation of the market but not for signal purpose.

If you are just starting out (as I would be), is it better to make small investments first, and then build your way up from there?

Nice article but investing in top cryptos only is not such a good idea. I remember that Ripple XRP was down the chart when it started and over night its price jumped so high that it placed its owners among the top richest men in the United states.

My point is investing in cryptos with prospect is also a good idea and it might yield a very profiting result though not immediately but eventually.

These all points applicable on newcomers so they have not faces any big loss.

What about long term coins with great possible futures that are still in infancy stages? I personally keep a portion of my portfolio open for more risky investments that could yield a high ROI . What is your opinion on a coin like Elastos?

You can HODL some low price coins and must check that coins have been listed on the top exchanges some coins you can HODl that is BCN(Bytecoin), Dogecoin, Siacoin, Bitshare, Digibyte, TRX, XVG, and Stellar and you can also done your own research. But these coins may increased your portfolio dramatically.

simply but good knowledge

interesting and informative tips and content you give us thanks for increasing our knowledge :)

But crypto trading is always risky

May be or not

this article is very useful for newcomers....and if you want to make more money then you need to find out the underdogs and buy and hodl them.

Very good rules indeed! I would also add: DO NOT daytrade, even though the cryptocurrency market is very volatile, daily trading is just a terrible idea. Try to look for patterns in a longer term. Long term = win

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Day trade is may even be profitable

It might be profitable IF you are extremely good at it. Otherwise you will be much better off hodling. Moreover, day trading will eat your brain. Before you notice it, you will be 24/7 looking at the price, having tons of alarms on your phone and so on.

Not worth it, been there and never again :)

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How profitable it is also depends on the tax rules in your country. In certain countries taxes will eat your trading profits.

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@ajaygautam621 We also need to diversify our crypto portfolio and need to hold top stable crypto for longer period.

Sir that's good way to give information to New comers because I also a new comer in crypto trading.so now I get idea on which cryptocurrency I have to invest

sir i am new person in the field of cryptocrencies ,so from where should i start investing money

When it comes to crypto trading, i really suck at it, i just wish i could know when exactly to buy and when to sell. I wil put the stop loss in mind. Thanks.

Thanks for sharing this Information.

Great post ajaygautam621! Thanks!

Nice work dude, following you now, please follow me

I fully agree with your point "Do not waste your time in any signal website or telegram channel just improve your own technical analysis skill". We have just created a platform to help better understand the state of crypto markets. Please pay us a visit: www.CoinMarketRank.io

Yes bro leverage tradeing is very risky
Like gambling
Great informative post
Well done bro