like this and repost if you're 🐂 about $GAS to $100 soon
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Honeyxgpt
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Бичи
$GAS 550% on spot 🔥 From $2.8 to $18.2 in 12days Thts is 11000% on 20x tho it was a spot trade #Binance top gainer ✅ Highest volume on #Upbit It might drop now Take profits 🥂 and be a part of ~#Elites 🔰
Few thing you should always have in mind if you want to be a crypto trader:
1) You should know that you must not always get the signals right.
2) You must keep emotions aside when you lose. because crypto is all about loss and profit. (That's why you should always set your stop loss or take profit.
3) Always be patience with a particular position you're trading on. Sometimes, after your analysis and you think the trend might go up but it started going down instead. be patience as some trend 📈 goes against the signal but come back up 📉 after some minutes. (But set ur stop loss regardless)
4. Always have a target, don't be too greedy.
5. Always watch your trade and know when it's going against you.
6. Don't go in to a position when it's already over bought, watch the trade and wait for retracement. or you can buy short(that's if you're trading on Future trade)
That's few tips for now.. if you like my post and few thing I create on this binance square market, FOLLOW ME and put my notification on for more. 🤝🏼
chronicle of every Day traders and especially beginners...
but hey, to all beginners, don't give up.
you can begin by using scalping method. 🤝🏼
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FortuneNodeOfficial
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🙋♂️ I lost money for 3+ years trying to learn day trading.
🫡 Once I became a CONSISTENT Trader I made back all my losses back in 1 month.
📝Here are 3 Trading Psychology Tips to accelerate your learning.👇
✅Intelligence Levels When I first started trading every single time I would take a trade & lost I thought: Am I even smart enough to trade, why do I keep losing? This hindered my confidence as I believed I wasn’t smart enough to be a full time trader.
✅IQ
In reality trading has nothing to do with your IQ after a certain point. Trading is based on your EQ levels, emotional intelligence. A trade you enter and win doesn’t mean your smart. A trade you lose doesn’t mean your dumb. It’s just PROBABILITIES of the market.
✅Stop Loss Every single time a trade would go to my stop I would have 2 thoughts:
A: Should I stop out of this trade?
B: I’ve seen trades that I stop out of, go back to my profit target, maybe I’ll just hold.
✅Stop Loss
90% of the time as a new trader I chose option B.
I would hold onto the loser in hope it came back to my profit which it rarely did.
But when it did I felt like I beat the market.
Which I didn’t I was just building bad trading habits of not following my plan.
✅Analysis Paralysis
After you lose money trading you start to build up this fear in your head that most trades you take will lose.
This fear blurs your vision even if your the best chartist in the world you won’t execute because you have no confidence.
✅Analysis Paralysis
Therefore, I would see my A+ setups form & not take it because I thought:
- I’ll wait a little bit more to see if the trade confirms itself.
- I’ll wait longer to see if the trade gives me a better entry.
- I’ll wait b/c I don’t want to lose.
✅Analysis Paralysis
This kept me from entering trades that were in my system & worked.
But start taking subpar trades after I saw a trade go without me making me lose twice.
🙋♂️In Conclusion,
I hope this post helped you understand some of the crucial psychology aspects
Must Read: Your PNL (floating profits) is not your Money yet.Most traders make the mistake of thinking that their PNL (floating profits) is actually their money when they haven't closed the trade. This is most common in future trading, where a trader can flaunt 1,200% PNL and later close the trade in a loss.Your PNL (profit and loss) is floating until the trade is closed. You can have a floating loss of 100% and still end up closing the trade in profits, and vice versa.This is also applicable in spot trading; if the coin you invested in pumped to 200%, make sure to book some profits before flaunting your 2x PNL. Most importantly, don't allow social media pressure to negatively influence you. Apply proper risk management when trading in the crypto market.See you at the top. You can support us with a tip. ❤️