How To Help Make Your Trading Life Easier

Well, trading is one of the things most of us do. I would have said all but the emotions some people feel through trading are simply not felt by everyone who just convert hbd to hive and vice versa. Traders know how trading can be difficult at times.

Seeing this we will all love to make our trading life easier. We would love to be able to go into the market and come out with flying colors, but is that possible? Even the trading bot makes losses. If you are not patient when using a trading bot then I think you can’t be patient with yourself even when you are the one making your own manual trading.

Some people enter the market without even deciding to enter the market. I know this sound ridiculous but it’s true. It has happened to me countless times. There was a time I traded each time I saw a coin in the green area. What am I trying to say? All am saying is that at those times I had no plan, all I wanted to do was to make profit hence a green made me excited. We shouldn’t enter the market without ever having a trading plan.

Having a trading plan will save you a lot of headaches. Having a saving plan helps you contain or manage your emotions when you are trading. It helps you stay disciplined while trading. At least even if you won’t plan about anything you should plan about the amount of money you are willing to spend on a trade, how much money you are comfortable losing and also how much profit you will be leaving the market with. Basically having a trading plan helps make your trading life easier.

One other thing I had to learn was the use of tools. When I say tools I mean technical indicators which help you in reading the market before you make a decision. I know these tools are not 100% correct but at least they give you a sense of direction. If you can apply these indicators on a graph and read it your chances of losing your trades are low.

We don’t just enter a market with sentimental analysis. I know some people have made it whiles using just instincts to trade. Those people were lucky, we are not that lucky so it’s always better to be prepared for the worse. Use technical tools for an easier trading life.

Stop losses and taking profits could be your best friend. Some people don’t seem to like SL/TP. I get it, we wanna be millionaires in crypto one day. But then at what cost? Before then are you gonna gamble your money away after making profits or after making huge losses when you could have left with the little you had left or with the profit you made?

No, setting stop losses and taking profits is not meant for people who only trade leverage. It’s for spot traders too. For some reason, they are your best friends. Forget that the coin could go up some more. Be happy you were able to make a profit.

There’s always another day to make profits. Remember the market always give us opportunities.

This point might not be such a big deal but it’s important. Know what you are dealing with. For some reason am begging to take the DYOR (do your own research) quite seriously. After the collapse of FTX and Luna, a lot of traders are now cautious. Not that you can’t be duped after making your research, but there are a lot of cases you will be the winner if you are informed about the project you are about to put your money in.

Look into the project before you decide if it’s worth your money or not.

Last but not the least, learn to manage your emotions. Yeah yeah, you’ve probably heard this same statement 100 times. But it’s truly important. If only we could behave like the boys while trading. It would save us a lot of stress. There are times you know deep down that you should be leaving a certain position but because of human nature, you want to wait and see if it will rise some more. Learn to manage your emotions and leave with the little you have.

These are not a lot of points but they will help make your trading life easier. For people who don’t know them I think we should look at them and decide even before we take a position.