NewTraderTips
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#NewTraderTips 3 mistakes need to avoid.
1. Without checking funding fee, you might loss money for paying it. Recent high fee is HIVE with 2% every 4 hours (it's low now) so you should check funding fee before starting future trading. Check it in realtime here
The fee in range 0.0xx is acceptable. Considering if the fee 0.xx then ensure you can get profit from it.
2. Set high leverage. It is very risky when you set x50, x75, you can earn more profit but liquidated price is also close. You might loss all money in future wallet. For new traders, x5 to x10 is recommended.
3. Buy at high price and sell at low price. You can do that only when you already get familiar with cryptocurrency market. Buy at low price and sell at high price is always right direction.
I hope these tips are helpful for you guys.
1. Without checking funding fee, you might loss money for paying it. Recent high fee is HIVE with 2% every 4 hours (it's low now) so you should check funding fee before starting future trading. Check it in realtime here
The fee in range 0.0xx is acceptable. Considering if the fee 0.xx then ensure you can get profit from it.
2. Set high leverage. It is very risky when you set x50, x75, you can earn more profit but liquidated price is also close. You might loss all money in future wallet. For new traders, x5 to x10 is recommended.
3. Buy at high price and sell at low price. You can do that only when you already get familiar with cryptocurrency market. Buy at low price and sell at high price is always right direction.
I hope these tips are helpful for you guys.
$CGPT #NewTraderTips DO NOT SHORT for new traders
Funding fee 2%
Cost (you bet): $100
Leverage: x30
Size: 30 * 100 = $3000
You will pay funding fee: 3000 * 2 / 100 = $60 every 4 hours
Too many shorts positions there, so the price would be risen but slowly, you will stay there too long, you will pay funding fee more.
It isn't worth to involve into this trading.
Funding fee 2%
Cost (you bet): $100
Leverage: x30
Size: 30 * 100 = $3000
You will pay funding fee: 3000 * 2 / 100 = $60 every 4 hours
Too many shorts positions there, so the price would be risen but slowly, you will stay there too long, you will pay funding fee more.
It isn't worth to involve into this trading.
$ETH
💡 Profitable Trading Tips for Newbies
1. 📚 Learn Before You Trade: Educate yourself on market basics, technical analysis, and trading strategies. Start with free resources and courses.
2. 🏗️ Build a Strategy: Decide if you’re day trading, swing trading, or investing long-term. Stick to your plan and avoid impulsive trades.
3. 📊 Start Small: Trade with small amounts of capital to minimize risk while learning.
4. 💵 Use Risk Management: Never risk more than 1-2% of your trading capital on a single trade.
5. 🚦 Set Entry and Exit Points: Predetermine where you’ll enter and exit a trade to avoid emotional decisions.
6. 🔄 Diversify Your Portfolio: Don’t put all your funds in one asset. Spread your investments across different markets to reduce risk.
7. 📈 Follow the Trend: “The trend is your friend.” Trade in the direction of the market rather than against it.
8. 🚨 Use Stop-Loss Orders: Protect yourself from significant losses by setting stop-loss levels on every trade.
9. 🛠️ Practice on Demo Accounts: Use demo accounts to test strategies without risking real money.
10. 📰 Stay Updated: Keep an eye on news and events that can impact the market, such as economic reports or regulatory updates.
11. ⚖️ Control Emotions: Avoid greed and fear. Focus on logic and stick to your plan.
12. 📈 Track Your Trades: Keep a trading journal to analyze what works and what doesn’t. This helps refine your strategy over time.
13. 🕒 Be Patient: Profits take time. Avoid chasing quick gains, as this often leads to losses.
Start slow, stay disciplined, and focus on learning and improving. Consistency is key to becoming a successful trader!
Follow me for more tips
Tags: $BTC $BNB #NewTraderTips #ProfitMindset
💡 Profitable Trading Tips for Newbies
1. 📚 Learn Before You Trade: Educate yourself on market basics, technical analysis, and trading strategies. Start with free resources and courses.
2. 🏗️ Build a Strategy: Decide if you’re day trading, swing trading, or investing long-term. Stick to your plan and avoid impulsive trades.
3. 📊 Start Small: Trade with small amounts of capital to minimize risk while learning.
4. 💵 Use Risk Management: Never risk more than 1-2% of your trading capital on a single trade.
5. 🚦 Set Entry and Exit Points: Predetermine where you’ll enter and exit a trade to avoid emotional decisions.
6. 🔄 Diversify Your Portfolio: Don’t put all your funds in one asset. Spread your investments across different markets to reduce risk.
7. 📈 Follow the Trend: “The trend is your friend.” Trade in the direction of the market rather than against it.
8. 🚨 Use Stop-Loss Orders: Protect yourself from significant losses by setting stop-loss levels on every trade.
9. 🛠️ Practice on Demo Accounts: Use demo accounts to test strategies without risking real money.
10. 📰 Stay Updated: Keep an eye on news and events that can impact the market, such as economic reports or regulatory updates.
11. ⚖️ Control Emotions: Avoid greed and fear. Focus on logic and stick to your plan.
12. 📈 Track Your Trades: Keep a trading journal to analyze what works and what doesn’t. This helps refine your strategy over time.
13. 🕒 Be Patient: Profits take time. Avoid chasing quick gains, as this often leads to losses.
Start slow, stay disciplined, and focus on learning and improving. Consistency is key to becoming a successful trader!
Follow me for more tips
Tags: $BTC $BNB #NewTraderTips #ProfitMindset