Crypto, just like other financial markets is game of Psychological factors.
When you decide to do crypto trading, you're not alone. You are competing with some of the world best traders of the time.
Do you know that US Stock Market total Market Cap is $55.5 Trillion while Crypto Total Market Cap is just $2 Trillion. It is the reason we say "Crypto is volatile", because prices moves up and down with -10 percent to +50 percent in a day at any time due to extremely smaller market cap than other financial markets.
But wait,
How is this event good for Traders mostly from Asian countries that want to earn $1 to $5 to escape matrix?
It's simple.
Let me help you out!
- Remember, you may make $1 with $100 in Futures market but the risk is still 1 percent but what if you have $1000 and you decide to make $1 per day? Then the risk is cut by factor of 10 and its just %0.1 . But how you can make $1000 in Asian countries?
It's simple, do some real life works, make some savings or learn skills and sell it online and earn some bucks but remember do trading on money you have earned so you have no regret if we see FTX like collapse too.
- Once you have enough initial investment. Next thing you have to do is start learning some chart patterns, basic chart patterns will help too from YouTube or just by seeing the overall Chart Patterns for some days, you will get it.
- Never listen to Twitter Influencers, all of them are making random trades and if 1 hit out of 100, they will brag their entire life about it. So cut such influencers, take your own trades.
But hey Frosty! I am newbie, if I take trade and what if I lose my money?
Answer: Bro, simply take $0.1 futures trade with 10x leverage, try how much you can make it, take 10 trades in a day, 300 trades in a month. Let's say you perform the worst and lose all 300 trades with SL set to $0.1 for each trade, you will still lose only $30 which is 3 percent of $1000 so your guess now, is losing $30 better or losing $300(by following influencers is better).
Once you feel comfortable, simply increase the amount from $0.1 to $0.2 or $0.4. Profit is profit, be it $0.1 or $0.2.
- There are still more to go and I will keep share thoughts and educate you like no one had done before with practical examples but for the next thread. For now, you can practice above!!!
- Remember, we are here to make money not to marry projects.
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