DIFFERENCES BETWEEN A NEW & VETERAN TRADER: CURRENT MARKET PRICE
There are times when the market deceives you into thinking that what you already have in mind whether it's already with a confirmation of 80% above or not, there is still a tendency for it to go opposite the expectations you have in mind.
In this scenario, we will identify how new traders and veteran traders formulate their trading plans, that is if they have plans.
Trader A and Trader B both wants to take advantage of the market movement and could possibly be thinking the same thing but with different courses of actions.
Trader A is thinking of doing max leverage for a short position today with 25%-100% of his total capital.
Trader B is patiently waiting for the price action of the market and until further confirmations appear, that will be the only time he'll take action. While having this in mind, he also have formulated the type of trading action he will make. He will open a long position on the possible retracement closest to the bottom of a token, use 5x leverage, 0.25%-2% from his total capital as his margin and setup stop loss, as well as target profit levels.
Who do you think is the new and veteran trader?
Stay wise, trade cautiously.
