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RE: How can you make money in a bear market even if you are an amteur?

in LeoFinance • 4 years ago

I agree, trading can be scary.

In the past, most of my victories stemmed from boring work -- days, weeks, months spent taking notes on hourly, daily, weekly patterns on different currency-pair patterns and crypto activity. It's not exactly glorious but playing it safe usually leads to regular but small profits. Every now and then, I'd gotten lucky pantsing it or playing it by ear off recent sensational news but that's led to a lot more painful outcomes than I care to admit.

In early 2020, I got tired of making super-long preparations and tried to do some guess work that spring in March and suffered losses so severe I literally ended up vomiting in the bathroom at work out of panic and shame of the money I'd lost by basically gambling.

I think you really hit the nail on the head with the advice in your article -- start of small, take notes on daily patterns for a few weeks, maybe a month or two to be extra sure. Once you have at least several reliable patterns identified, use a very small portion of your savings that you can afford to lose and make low-leverage plays. Once you've at least ten times your money, then maybe increase your risk every so slightly -- and I mean very very slightly, and ALWAYS secure profits!

4 years ago in LeoFinance by
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     4 years ago  

    In the past, most of my victories stemmed from boring work -- days, weeks, months spent taking notes on hourly, daily, weekly patterns on different currency-pair patterns and crypto activity.

    You are a veteran then, it seems. Yes, taking notes of every significant moment is always a tedious job but if you don't get the expected return, it becomes frustrating after all the hard work.

    In early 2020, I got tired of making super-long preparations and tried to do some guess work that spring in March and suffered losses so severe I literally ended up vomiting in the bathroom at work out of panic and shame of the money I'd lost by basically gambling.

    Damn! Damn!
    I didn't face such a situation yet but who knows if it's lurking around :v But I am sure I will not react this way, because, I don't have assets enough to get a heart attack if lost, and I am not that much of a risk taker, love to play safe. However, crypto market is unpredictable, and I am okay with the little profit I am making in every few days interval.

    I think you really hit the nail on the head with the advice in your article -- start of small, take notes on daily patterns for a few weeks, maybe a month or two to be extra sure.

    You got me right, that's definitely the plan newbies should follow. This way, the risk of losing money is low and they can learn the basics of trading quite efficiently, which is vital before dealing with big assets.

    Thank you for your ingenious opinion. Good luck!

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     4 years ago  

    Thanks! Good luck to you too! I'm very happy to be here on Hive. Really feels like we're part of the future and this a good place where hard work and patience is rewarded.

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       4 years ago  

      Yeah, it feels good to be a part of the future. Here's to many more successes yet to come 🍻