The secret to successful trading is to limit entries!
The significance of a limit entry is often overlooked by traders.
We'll use $DOT as an example for this topic.
Many people had previously expected these crucial levels when DOT retouched the monthly low zone. Their limit orders are used to set these buy orders. One harmonic pattern is emerging in the hourly and daily timeframes. The attempts of purchasers to take the lowest feasible price as their positions would be the cause of this harmonic pattern's potential creation. Have you noticed how limit orders are accepted for 3.6, 3.9, 4.0, and so on in the low zone? This is because DOT is a valuable cryptocurrency with an undervalued pricing. We are not claiming that this is the only lowest amount the DOT can charge. Rather, we are attempting to say that. It will probably hold at this level, particularly if Bitcoin chooses to maintain its current average price. Checking the lowest price when placing a buy or long limit order and the highest price when placing a sell or short limit order is the recommended course of action.
MANY TRADERS TEND TO FORGET THIS 1 FACTOR THAT MAKES THEM LOSE A LOT IN THE CRYPTO MARKET!
If you're looking for that 1 FACTOR that always makes you lose. Then, you're in the right place.
Here's why.
Never forget the reason why you're in this market. That is...
To earn rather than to lose. Your mind has been filled with the ideology that you need to have this certain capital in order to become profitable. In your mind, it's always about how 'huge' your capital size is and not how 'much' you can take as your risk appetite. Now, let me ask you. Have you been trading for the sole purpose of earning or the purpose of showing how 'much' capital you have to the world? If you're the former, then, you're in the right path. As for the latter. You need to reevaluate your trading decisions. I know someone who only adds $50 to the market and he has a net worth of more than 6 digits. This $50, he will just do 5% of this as a trading margin. From there, once he gets the result, he will just take it right away and leave it. Then, do the same process again and again. This helps him retain his market sanity and limiting the risks to his net worth. Unlike the ones who trade 90% of their net worth and leave $50 on their bank.
These posts are for educational purposes. To guide the people who might still be struggling within the crypto market, those who are new to the environment and volatility and everyone else who needs it.
Stay wise, trade cautiously.
#GAINERSPACK #TRADEANDEDUCATE #EARNINGDAILY