As we all know, it is easier to make money on Future trading, so also easier to lose money on futures. But these are my take out from trading futures for beginners and people with low capital.
1. Start small: when starting out future trading, don’t throw in all your savings expecting to double or triple it in a month. It is not a get rich quick scheme!!!
2. Learn the market: it’s not about how many dollars you are able to win per trades. But about your winning percentage. Learn to have a good winning percentage (it takes some loss to achieve this though) but it helps you grow.
3. Depend on analysis: Because the trend says a coin will pump doesn’t mean you should jump on it. Ask expert traders on their analysis on the coin and advices from seasoned experts. It builds you in the process
4. Don’t trade 24/7: Have days to rest from trading, so that you can clear your mind and have a better objective view of your analysis.
5. Keep learning: After a loss, don’t go after the market to pursue your money, it’s gone. Instead, learn from your mistakes and re-strategize.
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