Dear Fellows,
We had our 1st training session on Zoom yesterday in regards to Steemit Pakistan Schooling. I have started Crypto training classes and we discussed "Importance of Risk Management" in 1st session and I am going to share the session video recording and highlights in this post.
Key Highlights of Session
The Zoom session started at 10 PM as agreed and we have 40+ members joining the class.
All the members were welcomed by @haidermehdi and @cryptokraze and the class was started.
The importance of Risk Management in trading was explained in simple words that how it is going to make your trading easier and tension free.
1st and most important advice about risk management was shared which is "Do not Invest more than you can Afford to Lose"
- The next important point about risk management was to split your risk. You should not put more than 10% in a single trade of coin. If the trade goes wrong, then you will have more cushion to average your trade with another 10% and set off the bad trade with no loss or little profit. Practical example was shared on the recent bitcoin dump and how we could have set off the loss from that steep dump in an easy way.
- Then I explained the importance of taking profit and managing your trades according to Risk boxes. This is especially important while doing margin trading. A practical demonstration was done on how to draw your risk box and exit your trades on 1:1 profit or 1:2 profits. This is very important to exit trades on time because you cannot hold the profit trades forever.
At end of the session, participants asked questions and they were answered by @cryptokraze. There was good engagement and interest shown by participants.
Lastly, concluding remarks were given by @cryptokraze and thanking remarks were given by @haidermehdi and the session was ended with a positive vibe.
- This is a small effort by @cryptokraze to educate my fellow steemians and by any means, I am not trying to give the impression that I am the best trader. We all will learn together and everyone is open to share their opinions because anyone can be correct when it comes to predicting the probabilities in the financial trading market.
Disclaimer
All the training contents provided by @cryptokraze will be solely for educational purposes and should not be considered financial advice. Past trading performance results can never be a guarantee of future results.
Discords : FxKraze#2451
Telegram : @FxKraze
Twitter : https://twitter.com/fxkraze