HOW TO MANAGE RISK AS A BEGINNER ( IN CRYPTO CURRENCIES AND FOREX TRADING MARKETS )

The first step after having a statistical edge is incorporating risk management as a beginner in Crypto Currencies and Forex Trading Markets.

After you master risk management you will finally break even.

After breaking even you should enter the threshold of consistency.

This is where you know that you will always make a profit irregardless of the circumstances because of your consistent actions.

Then you will enter the the league of the big boys.

Making money that only 1% of traders make.

Don’t give up until you get there.

And for each step, CELEBRATE YOURSELF.

Trading is hard.

Developing skills as patience, discipline and confidence takes time and dedication.

But once you do that, they will stay with you forever.

Keep going.

The truth is to be in the 1% of all traders, it requires careful planning.

Rome was not built in a day.

You may spend even 10 years planning but if the plan is good, it will last you a very long time.

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-First you must have a statistical edge.

-You must have traded at least 1 year and got out of a major drawdown.

-You must have journaled for at least 1 year.

-You must plan your living expenses for the next 1-2 years including emergency savings.

-You must have a good account to sustain you and your family.

Whereas it may be hard, its doable, and that’s the reason why only very few people make it in the long run.

The difference is in the planning.

Failure to plan is planning to fail.

Don’t listen to ignorant chaotic marketers.

Psychology rule:

Think in probabilities

You’ll never know the outcome of 1 trade.

You’ll know the outcome of 1000 trades.

Edge + Probability =

Trading success.

Time in the market beats timing the market.

Instead of trying to predict short-term fluctuations, focus on long-term growth potential.

Your ego will destroy your trading account.

Detach from the outcome, stay focused and win.

Bitcoin is a decentralized Internet digital currency with secure storage, easy to use and free circulation around the world. Bitcoin is not only your inviolable private property, but also the digital gold to maintain and increase the value of your assets.

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Don’t be a market harlot.

Stick to one or 2 pairs.

Be a sniper, not a machine gunner.

Trading is war with your Emotions.

It’s not a game.

You will see people making big profit in
10 minute trades, but what you don’t see is the hardwork they have been putting in for the last 5-10, years in order to reach this level.

Never try to get rich quickly by taking risky bets.

There is no certainity in trading.

There is risk, reward and probabilities.Don’t give up you’re closer than you think it’s just a matter of time.

Risk management then is something you as a beginner in Crypto Currencies and Forex Trading Markets must master, otherwise all your training, studying and saving to invest will be for nothing.