TRADES SUFFERING FROM A LOSS? HERE'S HOW TO BREAK THE CYCLE!
There are more than 90% traders in the crypto market who keeps on losing especially when they overleverage and don't have any risk management plans.
  As a cryptocurrency trader who's here to continue being profitable in a volatile market. There are many things you must do and must not do. Thus, we are here to help you break them down into simpler terms.
1. Taking profit is the key to earning in the crypto market. Many traders tend to wait for stop losses to hit when they've already hit some or even all of their target profits. Therefore, it's not about how volatile the crypto market is, but the discipline of the traders.
2. Hitting a stop loss doesn't necessarily mean you've lost as a trader rather it is the proof of how much you care about your funds and its survivability in a competitive market. There are a lot of traders who would rather not take a stop loss and wait for the market to continue draining their assets before realizing what they've done.
3. It's not the liquidation price that's your enemy rather your inability to use lesser leverages when you have limited funds. Those who don't control their mind on what risk they will take and what risk they will not take will never be profitable in the crypto market. The life of a crypto trader is filled with financial risk but understanding how to master 'limitations' can alter a trader's life.
4. Once you have taken profit or your stop loss has been hit. It's wise to stop entering in an impulse. Those who enter in an impulse, may it be in a market that's skyrocketing or highly declining will surely be caught up in between the waves of the market. There may be times when the market goes in your favor but you can never deny that there are also times when it will not support your trades. Therefore, acknowledging a profit and not entering it again and again after realizing it might still continue to be profitable is wiser than taking another trade expecting the trade to be continuously profitable only to get trapped. The same goes with stop losses that have already been hit and taking another trade in an impulse may it be in reverse or in the same direction without proper planning. This is the biggest threat to a traders' mentality.
5. Hopping on a trend without checking on where the price is. There are times when a trend would continue to move at the same direction and also times when it would reverse. Many traders take their decision in the basis that most traders have already entered it. Although, they haven't verified whether this trend is still going strong or weakening. In return, the market may confuse you but in the end, you realize that it's you, as the trader who's confusing yourself with your entries that are solely based on impulses rather than careful planned decision-making.
6. Getting the tingling sensation every time the market moves and hit your stop loss and from there it goes to the direction you've predicted and made position with. That means, there are times when the stop loss will really be hit and that's normal since invalidations are there for that reason. Hence, you as a trader, can apply strategies to counter this such as doing entries at the stop loss you've envisioned and not the original entry and other strategies.
These are just one of the many ways to break the cycle of losses and the obligation you have in the crypto market is to ensure your funds survive for better opportunities that will be taken later on.
Stay wise, trade cautiously.
@GAINERSPACK tg
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