Esper

What's your number one trading tip for new traders?

ITBIT:BTCEUR   Bitcoin / Euro
Giving back to the community is a great thing.
Please share some of your hard won insights to other traders.

It can be anything - a one liner, or a chart with deep analysis.
Post your tip, advice or best practice in the comments.

Cheers!
/Esper
Fuck the rules do epic trades
+1 Reply
Follow the trend :)
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MACD
+1 Reply
Do not listen to saj
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Avoid manual opening and closing of positions - you will never be faster that HFT robots. Use pending orders most of the time.
+1 Reply
Number one tip for new traders: Do not listen to random people on the internet trying to give you tips.....
+3 Reply
-Always use stop-loss
-Do your research into any BTC trading sites or services before putting any money in them (I've lost or almost lost BTC on 4 different exchanges)
-The site that I have been using to trade on for a few years and have never been screwed over on is Bitfinex. Use my referral link for a possible discount - https://www.bitfinex.com/?refcode=cgSJVGkGHV
-Most Altcoins are horrible for long term investment. They can be good for momentum trading though but be careful. They often have small market caps, low liquidity, and are easily manipulated.
-Trust your own analysis not the hype or the trolls
+1 Reply
1- when opening a position always set a target and a stop loss and stick to it!
2- don't over trade, make one or two trades a day, if you make a decent profit, go do something else!
+2 Reply
The absolute number 1 tip in my opinion, is to cultivate a stable and positive mental environment that allows you to trade objectively and learn from your mistakes. Negative AND positive emotions will be your downfall if you allow them to cloud your decision making.

Every other skill or rule in trading should be in order to facilitate your well being and mental clarity. Without that, you can be the best analyst on earth and still trade like an idiot.

+5 Reply
"Ignorance more often begets confidence than does knowledge" - Charles Darwin
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