Golden rules in tradingā¦.šØ Donāt forget to read the last one
1. Never trade with entire capital. Divide your capital into 4-6 partsā¦ If you want to trade daily better to trade with 2-5 percent of the capital.
2. Leverage vs spot ::: Even though you win less amount in spot, still better to trade in spot rather than futures.
3. Stop loss::: Even though every knows, we should use stop loss, but nobody follows it including me.
4. Stick to one plan:: Most of the people loose profits for not having a plan or not sticking to the original plan.
5. šØ We want to make money from the people who are really intelligent, rich, with political power, media and influencers who wanted to take money from us and we are playing against them. Itās like 1-5% chance of winning, until we are disciplined we canāt win against themā¦
6. Buy near fear and sell near greed::: If you are trading in spot follow this rule.
7. The faster we get - The faster we loose. We can maker big amount in futures and also loose faster.
8. We think life wont worst than today but in reality it goes way worst than today. So, donāt trade full amount.
9. Realising bad trades and exiting:: This thing is really hard for me. Not able to close in small losses and end up loosing in big times.
### El Salvador's Shift: Chivo Wallet Faces Closure in $3.5B IMF Deal š°
El Salvador is making significant changes to its cryptocurrency strategy as it negotiates a $3.5 billion deal with the International Monetary Fund (IMF). To secure this funding, the government has decided to either sell or shut down its Chivo wallet, which was launched in 2021 to encourage bitcoin adoption across the country. While the government wallet will be discontinued, private bitcoin wallets will remain operational for users.
As part of this new agreement, the IMF has stipulated that acceptance of bitcoin by businesses will be voluntary, and taxes will now only be payable in U.S. dollars, not bitcoin. Despite these adjustments, El Salvador plans to continue purchasing bitcoin for its reserves, currently acquiring one bitcoin per day. With nearly 6,000 BTC valued at around $596 million, the countryās commitment to bitcoin remains strong, even as it reevaluates its approach. š
In the past 24 hours, the crypto market saw a dramatic shake-up! šØ A staggering **367,151 traders** were liquidated, resulting in a jaw-dropping **$1.19 billion** lost šø. The biggest hit? A single liquidation order on Binance, where a whopping **$15.8 million** worth of Ethereum (ETH) went down the drain! šš
šØ Market Mayhem: Over 290,000 Traders Liquidated in 24 Hours! šš°
In a shocking turn of events, the cryptocurrency market has seen a staggering wave of liquidations, with **294,021 traders** facing the harsh reality of margin calls in the past 24 hours! š± This massive sell-off has resulted in a jaw-dropping total of **$824.85 million** in liquidations, sending ripples through the trading community.
The most significant blow came from a single liquidation order on Binance, where a massive **ETH position valued at $11.78 million** was wiped out! š„ This incident highlights the extreme volatility that can grip the crypto markets, leaving both seasoned traders and newcomers reeling.
As traders brace for further fluctuations, the question on everyone's mind is: whatās next for the crypto landscape? Stay tuned as we keep you updated on this developing story! šš
1. **Bitcoin (BTC)** - **Country:** Unknown (created by Satoshi Nakamoto) - **Founder:** Satoshi Nakamoto (pseudonymous) - **Launch Year:** 2009 - **Overview:** The first and most widely recognized cryptocurrency, Bitcoin introduced the concept of blockchain technology.
2. **Ethereum (ETH)** - **Country:** Switzerland - **Founders:** Vitalik Buterin, Gavin Wood, Joseph Lubin, and others - **Launch Year:** 2015 - **Overview:** A decentralized platform that enables smart contracts and decentralized applications (dApps) to be built and run without any downtime.
3. **Binance Coin (BNB)** - **Country:** Malta (originally launched in China) - **Founder:** Changpeng Zhao (CZ) - **Launch Year:** 2017 - **Overview:** Initially created as a utility token for the Binance cryptocurrency exchange, it now powers the Binance Smart Chain.
4. **Cardano (ADA)** - **Country:** Switzerland - **Founder:** Charles Hoskinson - **Launch Year:** 2017 - **Overview:** Known for its research-driven approach, Cardano aims to provide a more secure and scalable blockchain and supports smart contracts.
5. **Tether (USDT)** - **Country:** British Virgin Islands - **Founders:** Brock Pierce, Reeve Collins, and Craig Sellars - **Launch Year:** 2014 - **Overview:** A stablecoin that is pegged to the US dollar, Tether is widely used for trading and as a stable store of value
6. **Solana (SOL)** - **Country:** USA - **Founders:** Anatoly Yakovenko, Greg Fitzgerald, and others - **Launch Year:** 2020 - 7. **XRP (XRP)** - **Country:** USA (Ripple Labs) - **Founders:** Chris Larsen and Jed McCaleb - **Launch Year:** 2012 - **Overview:** Designed for facilitating cross-border payments, XRP aims to provide a seamless experience between different currencies.
9. **Dogecoin (DOGE)** - **Country:** USA - **Founders:** Billy Markus and Jackson Palmer - **Launch Year:** 2013
āļø **No Justice?** Seek help from the underworld
ā From Taxes to Tolls: The price of living in Indiaā .
šŗ **No Womenās Security?** Donāt go out alone! š **No Water?** Call a tanker! š§ **No Pure Water?** Buy a water filter! š£ļø **No Proper Roads?** Pay tolls! š« **No Good Government Schools?** Enroll in private schools and cover fees for underprivileged students! š„ **No Facilities in Government Hospitals?** Go to private hospitals! š° **High Fees in Private Hospitals?** Get health insurance! !
šø **Want to Send Money Home?** Pay tax on remittances!
How long can we keep solving these issues on our own? š Despite paying 60-70% in taxes! People need to hit the streets! ā
In India, š„ **Politicians = G-o-o-n-s. šµ **Tax = Hafta (Protection Money)**
Let me know by liking it or commenting by How many Indians agree to it.
$XRP My XRP Short Trade: Expecting $1000 dollars with $1000.
Targeting $1.50 or $1.20 with 5X Leverage
Hey everyone! Iāve opened a short position on XRP atĀ $2.20, and Iām aiming to take profits if it drops toĀ around $1.50 or $1.20. I believe this trade will work because XRP is currently overbought, and the market sentiment looks bearish, meaning the price is likely to fall in the near term.
Iām usingĀ 5X leverageĀ for this trade. If you want to try this strategy with $1,000, you would tradeĀ $500Ā worth of XRP with leverage and keep the otherĀ $500Ā in your account to balance the leverage and protect your position. This way, you can make the most of price movements without risking all your funds.
But overall, Iām confident this setup will work and Iām expecting a drop in price toward my targets ofĀ $1.50 or $1.20. Iāll keep an eye on the trade and update you all as it progresses. Always remember to manage your risks when using leverage, and stay tuned for more updates!
I wanted to share my current strategy for Dogecoin, as I'm seeing some promising price action. Hereās the breakdown:
Current Position
Iāve opened a **long position** with **10X leverage** at an entry price of **$0.127066**. With a higher liquidation level at **$0.12958**, I believe we might see a price push upwards to liquidate those positions.
Target Price
Iām aiming to take profits at **$0.12958**. This level aligns well with the liquidation point, which could create upward momentum.
XRP Trading Update: Short Position Strategy : $XRP
Hey Binance community! š
I wanted to share my current strategy for XRP, as I'm seeing some interesting price action. Hereās whatās happening:
Current Position Iāve opened a short position with **10X leverage** at an entry price of **$0.6546**. With significant liquidation levels around **$0.6143**, Iām confident that we could see a downward move.
### Target Price My target is set at **$0.6015**. I believe this level is achievable based on current market dynamics and technical indicators. Itās all about timing the market right!
Strategy Overview - **Entry Price:** $0.6546 - **Leverage:** 10X - **Target Price:** $0.6015 - **Liquidation Level:** $0.6143 Iāll be monitoring the market closely to adjust my strategy as needed. What are your thoughts on XRPās movement? Letās discuss! Happy trading! š°