How to Avoid Unnecessary Losses in Your Crypto Trading Project

 

IF YOU ARE ALREADY A TRADER, TAKE THIS SOLEMN PIECE OF ADVICE:

This is my personal strategy and it will work for both Forex & Crypto Traders.

A Quick Question?

Are you aware that you can make lots of profits from your trades and still not have a dime in your pockets to show for it?

I will tell you why and what you should avoid. Crypto Trading is unlike every other business, much as it demands efficient record keeping like other businesses, you also can't afford to be careless. Strict Discipline is the watchword.

Rule 1: Cash Out Your Profits as soon as you make them.

Here is why;

Just as you anticipate profits from your trades, you must also expect to make losses. Expert traders make losses too, how you handle your losses is what matters and what truly makes you an expert trader is not the absence of losses but the fact that your losses are minimal when compared with your profits.

Anytime I make a loss, I ensure that it only hits my capital by trading with only my capital and not with my capital and accrued profits.

By so doing, your next trade after every encountered loss should be to boost up your capital and proceed to make profits.

If you don't use this strategy, you may never cash out after earning so much and would always go back to building your profits as well as your capital which will always be hit once in a while. 

The amount of losses you have in the system is a fraction of the amount of your tradable capital which means that, the higher your tradable capital, the higher your loses.

The Fail Safe strategy is to ensure that Always cash out after every profitable trade.