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RE: Don't Look Back .:. A missed opportunity can turn into an avoided mistake

in The CTP Swarm3 months ago

I enjoyed listening to your video. I have been learning these lessons myself over the last two or three weeks.

I can say that my early loss of $165 USDT on crypto futures trading is proving beneficial because it showed me that I really do need to train myself to trade, which is what I'm doing all this month with a "demo account".

About FOMO, I would add that there are new trading opportunities every day whether it is a bull or a bear market. Once that is understood, you can begin to look at the situation more rationally. Learning to use a selection of trading indicators is also very helpful, I have found.

@rarej also makes an interesting point about going for the long haul if your trade turns out not to have been well timed! I have saved several of my futures trades now by NOT setting the Stop Loss too narrowly, and sometimes by not setting it at all. But that is not "advice" as it depends on the type of trade you are engaging in.

All the best,

DH

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If it's a true long-term token of value, stop-loss is usually not even needed in most cases. I only put that if the coin is high risk and more of a news and rumor type situation.

I can say that my early loss of $165 USDT on crypto futures trading is proving beneficial because it showed me that I really do need to train myself to trade, which is what I'm doing all this month with a "demo account".

Well, I have done the same when I was learning to trade... It was FOREX, and I didn't have the patience to trade on a "demo platform" for more than a week :) It was a good lesson, that I have remembered :)

I do agree about stop loss when there is "safe trading", as I described in my post... But, maybe that's not real trading as sometimes, I keep that other asset and not trade it back... lol... :)

Thanks for the comment, David!

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