Here’s a shocking truth: Over 90% of crypto traders quit in their first year!
One of the main reasons is that they pursue the wrong goals.
In most cases, people start trading because they want to make money (nothing wrong with that). They set goals like “I want to make 10k in 3 months” or “100k in one year.”
The problem is that these are goals no one can control (even the world’s best trader couldn’t).
Uncontrollable goals lead to uncontrolled actions.
👉 The result: Traders make wrong decisions, lose money, and ultimately stop trading.
💡Here’s a better way to do it: Successful people (not only in trading) usually focus on tasks, not goals.
Don’t get this wrong. Of course, they have goals.
But here’s the trick: They break down the goals into required tasks & focus on their execution.
It’s a small yet essential perspective change.
Let’s make this tangible 👇 Instead of focusing on making 100k, you break down this goal into required actions:
For example: ‣ Educate about trading: 1h daily ‣ Build trading strategies: 2h daily ‣ Backtesting: 3 times/week ‣ Document and automate processes: 2h/week ‣ Journal your trades daily ‣ Analyze your trades once a week
As a next step, you continue focusing on the execution of the actions, tracking, monitoring, and improving them.
This might sound boring, but it is exactly what you must do.
Alex Hormozi once said: Extraordinary accomplishments come from doing ordinary things for extraordinary periods.
And this is precisely what will happen if you consistently execute the defined tasks. You will reach the overall goal.
Summarized, here’s what you need to do to reach your trading goal:
✅ Set a goal ✅ Break it down into actionable tasks ✅ Execute the tasks consistently ✅ Celebrate your success!
If you want to be one of the crypto traders who don’t quit, you can check out Crypto OS. It’s the platform I developed based on the mistakes I made. It contains data-driven trade signals, backtests, trading bots, and much more. Check my X Profile for the link: @ben__crypto23 #trading
I've rarely seen so many #bearish trade signals on the daily chart.
Except for oversold RSI signals, there's not a single bullish signal.
The good part #1: Many signals show highly reliable backtest data, so we can make some nice gains shorting.
The good part #2: It can't get much "bearisher." As mentioned in my RSI post, I expect the bottom to be almost in. There will probably be some more liquidation, but we should certainly see some relief shortly.
It has been a while since the number of bearish trade signals on the daily chart outperformed the bullish like this.
Based on the latest daily candle close, 48 bearish trade signals have been generated — compared to only 7 bullish.
Certainly, trade signals can be wrong, and the crypto market can flip at any second. However, at the moment, it looks like we will see some more bearish price actions.
We will examine the overall RSI later in the day to determine whether we are close to a reversal or just witnessing the last dip before a (short) relief rally starts.
PEPE — Power Scalper Short Signal on the 1H Chart 📉
$PEPE flashed a #bearish Power Scalper signal on the hourly chart. Here are the details:
䷄ Trade Details Signal Direction: Sell Profit Potential: 4.5% Backtest Win Rate: 75.34% Amount of Backtest Signals: 146
⚙️ About the Power Scalper Signal The signal is mainly based on three indicators: * Relative Strength Index (RSI). * Semaphore Signal Level Channel (SSL): This indicator determines the trend direction by comparing the current price to the highs and lows of the past ten periods * Trend Direction Force Index: This index combines price movement, volume, and time to reveal the strength behind price trends.
🚀 Want more signals? Check out Crypto OS for free trading signals. More information is in my X bio.
Besides some oversold RSI signals, we have tons of #bearish Parabolic Trader and bearish EMA crossover signals. OCEAN, FET, and INJ are just a few examples.
Looks like the market wants to go deeper before bouncing.
-- You can check out Crypto OS if you want more free, high-quality trade signals. More details are in my X bio.
Education Alert 🚨 Are you looking for new opportunities to trade on Binance? In this video, I demonstrate how to receive high-quality trade signals for free, in just a few minutes.
So far, we've been experiencing a bull market that has been heavily dominated by $BTC
Although it is normal that Bitcoin kicks off a bull market, it is surprising how poor most altcoins have performed.
Besides memecoins, such as $PEPE and a couple of other tokens, most altcoins are in a downtrend (based on the EMA 200).
Additionally, summer has historically been rather bearish. Therefore, we might have to wait a bit longer before some signs of an altseason are visible.