AMA Trading Sharing Session with Bitget Top Elite Copy Trader All About Trader: Summary
On October 1, 2021. Bitget held an AMA Trading Sharing Session with one of our Top Elite Copy Trader at Bitget English Community TG. Here are the summary of the questions and answers !
Q1: Could you introduce yourself and share some of your trading experience with the Community?
A: I would like to introduce myself or also known as allabouttraders for my privacy. When I was in college I didn’t know what to do. I’m curious on how to make money online. After that I learned forex trading. I learned a lot of things that I need to use in my trade.
After that I learned about crypto. I really am amazed by crypto because you can earn a lot of money as the market is very volatile.
Although there are alot of trading opportunities in Crypto space, you need to be careful not to open trades randomly. I learned a lot of strategies on how to predict the market using technical indicators while I was trading forex last time. The main indicator I used is moving average. It is easy to use to know the market flow.
Q2: For beginner traders, what are some of the things that they should learn first ？
A: For all beginners, I would like to emphasize that knowledge is very important to us as a trader.Gain more knowledge before you earn a lot of money.
Leverage trading is more risky than the spot trading
If you are new to trading, remember to use low leverage like 2x 3x and put stop loss for each trade.
Q3: What is the best product feature that you like about the Bitget platform?
A: The best product features in bitget I like there is no lag when the market is very volatile unlike the other platform.
Copy trading is also my favourite product in bitget. Lastly, simulation trading on Bitget is also an unique product for new traders to improve their trading knowledge and test their strategies before going live using real money.
Q4: Any advice that you wish to give especially to the new traders in our community?
A: If you are a newbie! Bitget have two different markets, spot and derivatives market.
For the Spot market, you can only earn profits when the market is going up.
For the derivatives market, you can use leverage like 2x 5x to earn more profits regardless if the market is going up or down.
The best advice for all new traders is to try out demo/ simulation trading in bitget to practice before using real money to trade.
Always ask questions when you are not sure about anything!! Bitget support is very active
Q5:Can you share with the community about your swing trade strategy?
I used ma21 for my trading, if the ma 21 is below the candles, it means that it is currently an uptrend , if the ma 21 is above the candle. It means that currently the market is in a downtrend.
If you are using ma 50 and ma200 there is a possible market moving uptrend if there is a golden cross ma 50 above ma200 if the market is down there is a possibility for death cross ma 50 below the 200ma.
When you enter a swing trade pls. Read some news first or our fundamental analysis.
Secondly, is our technical analysis or indicator as I mentioned before I used ma21 to verify the market uptrend or downtrend.
And of course don’t forget to check the volume.
Q1: What do you think is the safest tactic to minimize losses due to a sudden increase or decrease in coin prices?, because it often happens in the last few days
A: The best strategy in leverage trading is to minimize your leverage as much as possible. Using low leverage like 2x or 1x profit is always a profit.
To avoid liquidation, always put stop loss you can risk at least 10% or less. Many traders are greedy; they would like to earn more and forget stop loss.
Market changes when the ma21 crosses the candle, the ma21 can be either above or below the candle go up or down or you can also use macd indicator to verify market flow.
Q2: The most difficult thing I find while trading is controlling emotions because if you will trade with fear or anxiety you will lose. So how do you manage to keep emotions away from the trading?
A: Emotion is our main enemy in trading. You need to risk a little bit just like setting stop loss every trade or target profit if you have a profit already profit is profit always don’t be greedy and don’t expect large amounts of profit. Small amount is enough.
You can manage your emotions in trading but this is very difficult, especially for new traders.
There will of course be mistakes made during the early days of trading, so start with a smaller capital, overtime you will gain better knowledge in trading. Technical analysis is our guide for possible market flow. Always check the news about the market.
Q3: I just heard about position trading. What is position trading? What kind of analysis do you use to do position trading?
In position trading you can hold your trade for a long term like a month or years. There is a possibility to gain more profit.
The best strategy in position trading is our fundamental analysis, reading some news and of course our moving average is very important.
Q4: What is your risk reward ratio and your favorite coins for trading?
A: My favorite eth and btc don’t focus more coins if you are in a leverage focus on one coin only.
Btc is one of my top coins to trade in leverage trading because it’s the main crypto. If you are focused on one coin you can understand it better as you trade more with it. Example: how volatile is this coin? What is the best timing to trade BTC?
For my risk reward ratio, I would say 1:2 is good.
Q5: I see your win ratio is 90%. how can you do that? what was the main factor in your success to get such a high win ratio?
A: Actually my win ratio didn’t grow to 90%, I started small before from a winning ratio of 2% until it grew to 90%. If you want to have a good profit ratio, be wise in trading, and don’t be too greedy.
Sometimes I used low leverage only And high margin and I have backup funds for possible market fluctuation or sometimes there are some reversals. That is why I mentioned before that stop loss is very important to us.if you hit stop loss don’t worry there are some opportunities in trading it’s normal to us.
To maintain your win ratio, also don’t over trade. You can trade once a week or 3 times a week is enough.
Q1: Is Bitget platform suitable for crypto beginners ? Or does it only appeal to professional users ?
A: 1st questions!! Bitget is very suitable for all beginners or not beginners!! Why? Copy trading is available where you can copy the trades by professional traders if you are not a professional.
Q2: What are the most important things a novice trader should have? then how do we get long-term benefits from trading that we know the price fluctuations that occur in the crypto world?
A: The most novice trader should we have is a knowledgeable trader is very important to us. You can get a long term benefits when you have more knowledge don’t stop to learn more or new strategy.
Q3: How to start investing in crypto?
A: If you would like to invest in crypto chose a major coin If you don’t know how to invest in crypto you can learn via asking some questions in Bitget TG if unsure about anything!
Q4: What’s your biggest wins and losses?
A: My biggest mistakes before in trading I didn’t used stop loss that is why I mention before stop loss is very important to us in trading and our knowledge. My biggest achievement when I learned a lot of things in my losses and failure in trading know I managed all of my trades. My highest ROI is when I profited 1000% in leverage trading.
Q5: Can I learn about trading in our Bitget TG community?
A: Bitget TG community is really interesting as I saw traders always share data about trading this is I really like if you are a newbie you can learn a lot of strategy in trading. My area of interest is a long term trading and share a lot of knowledge to everyone.
That is the end of our summary :) Do note that Bitget is still recruiting copy traders worldwide, so we welcome all good and experienced traders to join us to get MASSIVE REWARDS!
For more information about the benefits of becoming Bitget’s copy trader, kindly check out this article: https://bitgetglobal.medium.com/bitget-is-officially-recruiting-copy-traders-worldwide-341e25af13b5
Thank you for your constant support!
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