How to avoid losses when trading on crypto market

Lens1000

Valued Contributor
Traders who are unsuccessful usually enter a trade without any crypto trading strategies, nor the idea of knowing when to sell for a profit, and how much loss they are willing to risk
Unsuccessful trader trade on crypto market on instinct.

You should calculate the expected returns as it will allow you to think through the crypto trade. Setting STOP-LOSS and TAKE -PROFIT exit orders. Traders would usually calculate the probability of a gain or loss by using historical data of the cryptocurrency and breakdown from more experienced traders

Most cryptocurrency exchanges will allow you to be able to set a stop-loss, but at the same time, you will not be able to set a take-profit order , which is a big issue

Most exchanges lacks sufficient tools that should be used to manage your trade. Using an automated cryptocurrency trading platform is also necessary to calculate your expected returns

There are all-in no-one crypto trading automation platforms that allows you to set your preferred entry and exit orders.

What's your own take on the subject?
 

sincerem

VIP Contributor
When one trade with experience, apply caution and have endurance spirit, trade what you can afford to lose and not grow too frustrated. If you apply this factors and others which are necessary i believe it won't be losses all the way. You'll experience profit better than the loss in trading. Remember not to trade often to avoid series of losses.
 
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Lens1000

Valued Contributor
When one trade with experience, apply caution and have endurance spirit, trade what you can afford to lose and not grow too frustrated. If you apply this factors and others which are necessary i believe it won't be losses all the way. You'll experience profit better than the loss in trading. Remember not to trade often to avoid series of losses.
Do you know exchanges that offer sufficient trading tools? Exchanges that allow you to set entry and exit order at the same time.
I don't think binance does that, but I know that some exchanges does that, but I do not know how trusted they are , that is why I can not share it here.
I don't like sharing the sites that I have not tested, so as not to mislead people. Share the exchanges that you know offers sufficient crypto trading tools
 
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Sotherefore

VIP Contributor
greediness is what i know that have been making a lot of people to lose in trading of cryptocurrencies of or forex because instead of them to take the little profit they made they are expecting the price to continue in the uptrend movement, sometimes the price will immediately fall down and all the profit will be loss.
 
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