Here's my 6-step guide to make a crypto bull market trading strategy
Take 5 minutes out of your day to learn
Step 1: 🔶 Pick 1 Niche
It's tempting to trade everything in a bull market
But the ones who make the most money get REALLY good at a few things
Specialise in trading one niche and beat everyone who isn't focused
AI, L1s, GameFi and Memes are all viable
Step 2: 🔶 Market Conditions
There are 6 types, choose the ones you want to trade
-Up Volatile
-Up
-Sideways Volatile
-Sideways
-Down Volatile
-Down
If you don’t know how to identify them make sure to follow me
Step 3: 🔶 Entry
If "x" happens I will buy
Example: If we get "2 candle closes above resistance" I will buy
Use simple repeatable tools like support/resistance, moving averages, volume
Step 4: 🔶 Stop Loss
Make it easily repeatable
Try using an invalidation stop loss
Ask yourself where would my idea be invalidated?
Example: If price revisits the initial resistance I will close my position
Step 5: 🔶 Profit Target
Controversial but start with just 1 R:R for every trade
The goal here isn’t to start perfect
It’s to start at a point that is easy to iterate from after you test.
Step 6: 🔶 Test
Don’t love back testing.
It doesn’t take into account emotions, analysing the current market sentiment or your lifestyle.
It doesn't build real experience.
Instead, use a small account ($100 / $1000)
🦅. Test 30 trades with a SMALL account and journal all of them religiously.
🦅. Review the trades
If you make money, great you have a strategy.
If you lose money, great countertrade yourself and you have a strategy.
Once you have your strategy profitable
- Keep adjusting your rules based on your journal
- Add trade management rules
- Find new assets
This should give you enough to start but here are some bonus tips.
-Start with trading longs only
-Start on lower time frames to build experience faster
-Keep things simple
With this, you don’t need me to tell you to follow me before you do
See you in my next posts 🦅🔶