What’s up, guys? Welcome back to another video in today’s video, I’m going to be giving you three tips for beginners when it comes to trading. Now, even if you are an avid trader, if you’ve been trading for a few months or even a few years, you may still find a bit of value from this video because these three tips, they’re pretty simple and they are very beginner friendly, but they are pretty much the fundamentals of trading. And one of these three tips, if you don’t implement these three things, you’re probably not going to make any profit. Now, as it is, it’s hard enough to make profit when it comes to trading. But without these tips, it’s going to be even harder. So the thing you’ve got to keep in mind is keeping it simple, bringing it back to basics and basically starting from a clean slate.
So before we get into the video, I do want to let you know about my Bitcoin blueprint. Course. Of course. Shameless plug it is. The link is done in the description. The first video. I still have a few places left for the hundred people. If you’re watching this free crypto T-shirt shipped to you one on one Skype call, exclusive private email access Facebook group, which is growing day by day and private label streams. So the price will be going up in the next month or two. So definitely check the first link in the description. If you weren’t interested in the cost, click. The second Lincoln description is going to give you three free videos. If I said that correctly, three free videos from the Bitcoin blueprint, one on trading, one of mining and one on Axios. Just check the spam promotions folder on your inbox as it might get sent there. So getting into today’s video after the plugs, taking a look at the price, of course, is green, green, green, green everywhere, which is really nice to see on a normal day. But today it’s only green because of the huge bloodbath that happened yesterday. Now, the bloodbath, it wasn’t the end of the world. The prices didn’t go down to what a lot of people are expecting. I’m pretty comfortable with the prices. Ethereum is down quite a lot, to be honest, compared to something like Bitcoin, where Licorne was hovering around 200, 210, maybe 220 for a while now. Ethereum has been up eight, 1900 for a bit, a bit of a longer time now. So it’s definitely a bit sad to see it down there at seven 29. Of course, if you’re watching this in the future, it may be at a completely different price. So getting into today’s video, my three top tips for traders and how you can easily implement these tips to make your trades more profitable. Now, the first tip, it’s going to seem ever so simple, but do you do it? The first tip is buy the dips. This I know it’s mine breaking. Right. This is just the easiest to ever. But so many people don’t do this. So many people buy the pumps, so many people buy when the price starts to go up. That’s not what most traders do. Most traders buy the dips. We can see a picture here. I have no idea what this coin is a mind. It may even be Forex. It is just giving a good example.
We can see here, if you buy the dips consistently, you can make profit. But how do you know where the dips are? For example, you might you may you may buy for example, you may buy here thinking it’s going to go down, but in fact it increases in price or you may buy here thinking is going to dip and you might buy here. You never know or even here. Here’s probably the best example. You may buy this dip here thinking, OK, stepping down and then he dips down even more and then you might think, oh shit, I’m going to sell it, I’m going to sell it. And then it starts to go up and then you sell it. I mean, you can still make a bit of profit doing that. It is hard to identify the dips. Granted, I know that it’s very hard, all the technical analysis in the world. Yes, it can definitely help you, but you can never be 100 percent sure because technical analysis is not fact. It’s nothing like that. It’s just going off previous and current things that are happening in the market. So my second tip is, in fact, learn when to take profits. This is a very, very big key. If you didn’t watch yesterday’s video about the easy way to make a hundred dollars a day trading, I was taking a look at a coin and how you could have traded that yesterday and easily made one hundred dollars profit, probably in the space of an hour or two. Now, if you add up one hundred dollars profit every single day, that’s going to be around three thousand dollars per month.
Now, that’s very, very interesting for most people. They get three thousand dollars extra per month residual passive income on top of their salary. That’s really nice. So I could have I actually did that trade. I didn’t make one hundred dollars, though. I cashed out at eighty dollars profit. Why did I cash out those profit. Well, because I was more than happy with eighty point profit. Did the market go above where I thought it was going to do? Well, no, not really. If we take a look at a coin, we go ahead and take a look at second BTC. Yesterday, I was saying that I thought it would rise to previous support levels. I was talking about buying it around here. I actually bought here on this candle around about here. I paid around one forty one forty two. Satoshi is for it. And then I actually sold it here at about one fifty one 52 around about. That’s a small profit about about eighty dollars depending on how much you actually. Meeting with World Trade Volume are using, but yeah, I could have easily sold it right here, but I just waited a little bit more and in fact, I got a bit more profit. But you’ve got to really know when to take profits. Sometimes people come by and sometimes people, for example, they can buy here and think it’s going to shoot back up. So here you can see it’s actually paralleling the bottom Bohlinger band, which a lot of people on a lot of traders might say, OK, that gives me an instinct to buy because it’s going to bounce back.
But you can see it just kept paralleling this. But this bottom Bollinger band and in fact, going even lower and lower. So you may have put in a buy order right here and then it kind of kind of dipped even more. And now you’d be here and you just be you wouldn’t even know what to do. Now, there’s two options you can do when this happens. One, you can just cut your losses and move on, try and make it back on another trade. But this can be very dangerous because if you’re entering your next trade already a loss from your first rate, your mind and the way and your psychology can kind of play tricks on you as you think, OK, I’ll just leave this trade a bit longer. I’ll make a bit more profit and I’ll pay back my last trade. Well, that’s not necessarily the best way to be going about it. Me personally, I said stop losses on my trade. So if there was to if it was to go for below that price, it just gets sold. And I cut my losses and I get my money back for me. That’s how I trade. A lot of traders may leave it for a week or two or even a few days or two and just see if they can get their money back. Even a bit of profit for me. I like to cut my losses and move on. That’s just the way I trade. Many other people trade differently. So before we get into the final tip, just to remind you about the Bitcoin blueprint, click the first link down in the description.
If you do like these videos on trading, I have so many more inside the Bitcoin blueprint, and I’m adding more every single week about trading, how to make profits, how to make passive income with trading. You don’t have to put your money into any scams or any mining or anything like that. It’s just purely you trading by yourself and basically in control of your money. So definitely check out the Bitcoin blueprint or get these videos, these three free videos if you did want to advance your trading strategies. So moving into the third and final tip, and that is do not over trade now. Don’t be this guy right here with piles and piles of coffee, coffee cups stacked up, just trading, trading, trading, trading, trading all single day every day. Don’t be that guy. There is so much of it as a thing of overtrading and so many people, when they get into trading, they overtreat. Now, why is overtrading bad? Well, because if you’re a beginner, you don’t need to be trading that much. You need to be getting your your hands wet with a bit of trading, but definitely not overtrading.
I personally recommend if you’re new to trading probably less than around three to six months or less. You’ve been trading only make one trade per day and make that one trade a good trade if you make a loss on that trade. OK, like I said previously, you can even hold Bitcoin until it goes back up to that price and then sell it. Or you can just cut your losses and move on and then make your next trade. And next day do not trade more than once a day. If you’re just a beginner, it’s easy to lose money doing it this way and you can get lured in. And it’s it’s kind of like an addiction, like gambling kind of. And it’s just got a lot of negative associations with it. So definitely do not overtreat. This can be very, very horrible. So point number one, recapping point number one is buy the dips and sell the peaks. Of course, point number two was in fact to learn when to take profits and cashing out at a ten, twenty percent profit is way better than losing money. Definitely on point number three is do not over trade if you’re a beginner, only make one trade today in trading for a while. Maybe two to five trades might be acceptable in a day, but definitely you don’t want to be glued to your computer all day. Trading more does not necessarily meaning mean making more. That’s one thing that I’ve learned and many others have learned to keep it simple. Keep your stress down and do not trade too much. Thanks for watching, guys. Don’t forget to check out the Bitcoin blueprint. Of course, the first link in the description and I’ll see you in the next video.