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Unless you wet your feet, you wouldn't know

Discussion in 'General Discussion' started by Arpit, Jun 14, 2018 at 8:12 AM.

  1. Arpit

    Arpit Contributor

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    Well, when I was young and interested in the investment and trading business, I used to paper trade daily.
    Paper trade is the kind of trade where you just assume that you have bought at so and so price. It's something like an assumption just to check if you are doing right.

    Guess what? 9 out of 10 times, I made money.

    Why?

    Because on paper trade, you are casual and indisciplined and every movement doesn't impact you. Since you haven't really bought or sold anything, you have no idea what it feels to be in the market. When the market is in your direction, you assume that you would have made money.

    Every movement impacts when you have actually invested in markets.

    In reality, I make money only 5 out of 10 times. However, the secret sauce is managing the risks.

    On the 5 losing trades, you have to lose less. On the 5 winning ones, you have to maximize the profits.


    You cannot be right all the time or majority of the time. If you manage the risk:reward well, you have good chances of making some serious money.
     
  2. GuardianofCrypto

    GuardianofCrypto Master of Trolls Staff Member Super Admin

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    I had an idea to create a game app where you can practicing trading with real-time crypto prices.
     
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  3. Arpit

    Arpit Contributor

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    Create it. Don't wait.
    You never know!
    If you find it worth implementing, take out a paper, plan it, write the business model, check out the variables, research it and rillout the product.
    I am sure there would be takers for this one.
     
  4. GuardianofCrypto

    GuardianofCrypto Master of Trolls Staff Member Super Admin

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    That would be nice.
    However, I have too many on my plate right now.
    If anyone wants to take my idea and go with it, I'll only ask for a 98% commission.
    Thanks in advance.
     

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