How did you make your first $1000 in crypto? | CryptoGist on Binance Square

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How did you make your first $1000 in crypto?

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🎯🎯🎯HOW LONG SHOULD A TRADE LAST BEFORE REACHING TAKE PROFIT?🎯🎯🎯 There is no exact one answer to this because there are alot of factors that can delay or fast forward your trade to reach TP or SL. However, it also depends on the time frame you use to create the signal. Using a 15 mins time frame to create a signal means you can start taking profits even from the next 15 mins after you placed the trade. Similarly to 1hr, 4hrs, 1 day etc. But is important to know that trades are classified into 3 main types: 1. Scalpers 2. Day Traders 3. Swing Traders. Scalpers use 15mins or 1hour time frame to create their signals and they take their quick profits within this short time frame. Day Traders consider mostly 4 hours and above Time Frame to get their signals and as such they start taking profits within those hours and their trade can last for as much as 24 hours or a little more. Swing Traders consider a day and weekly time frame to get their signals and their trade can however last for several weeks and even months before reaching their desired profits. It's worth noting that the longer the time frame the more accurate the signal will be and the more profitable. Hope this is helpful? If yes Like and share. #CryptoGist #Trading

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💡💡💡IMPORTANT TRADING RULES💡💡💡 1. Never trade more than 3 coins simultaneously 2. Trade each signal with only 10% of your capital. Anything above 10% per trade is a big mistake. 3. Never close a trade because is going against you. Don't cut the trade. Allow the trade to reach destination. Is either it hit Stop loss or take profit. 4. Master your DCA and always prepare for DCA at -40% instead of closing the trade or hitting the stop loss. Personally I encourage doing DCA than setting stop loss. 5. Don't jump into a trade. Wait till the entry price given to you reach. Unless if you are asked to trade at the current market price. 6. Don't trade signals you are not sure of. Trading is not gambling. 7. Don't over trade. A few trades daily is okay. Protect your capital by all means. When capital is secured, profit will come. 8. If you are weak or sleepy don't trade . If you must trade, then set stop loss and take profit. 9. Don't use very high leverage. Stay with 10x or maximum of 20x leverage. Anything above 20× is suicide. 10. If you loose two trades consecutively, close for the day. Don't do revenge trading if not you will loose more. 11. When you are in profit of about +20% , either close the trade and walk away or lock your capital by doing what we called break even. Break even is a process of using your entry price as your new stop loss. By doing so, your capital is secured even if the trade is reversing, it will push you out with no loss and no profit. When the profit is increasing, then keep changing your Stop Loss value to secure more profits. Or close partial. Watch my videos. 12. Avoid following so many groups on trading. You will be confused with various strategies from each mentor. 13. As a newbie don't trade new coins or very volatile coins. If you don't know which coin is volatile or not, then wait for our signals. 14. Trading for profit is like a compound interest. We make small profits from each trade and a combine small profits leads to big profits later. #CryptoGist #TraderMistakes #TradingWins #tradingjourney

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Did you know that #USDT is the best to stake at the moment? click on #Earn and Make money with #USDT flexible. HAPPY EARNING #CryptoGist #EARNforFREE #staking #makemoney $usdt

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Before diving into the world of cryptocurrency trading, there are several key factors that every prospective trader should be well-versed in. 🔶Firstly, understanding the volatile nature of the market is crucial, as rapid price fluctuations can lead to immense gains or devastating losses. 🔶Comprehensive knowledge of different cryptocurrencies is essential to make informed decisions regarding investments. 🔶Familiarizing oneself with fundamental analysis techniques, such as studying whitepapers and staying up-to-date with news and trends, enables traders to evaluate the potential value of altcoins accurately. 🔶Additionally, a solid grasp on technical analysis tools like candlestick charts and trendlines allows for effective market timing strategies. 🔶 Risk management is another indispensable aspect, necessitating setting stop-loss orders and diversifying portfolios to mitigate potential risks. 🔶Awareness of regulatory frameworks and legal considerations surrounding cryptocurrencies ensures compliance with local laws and safeguards against legal ramifications. 🔶Therefore, armed with these five essential pieces of knowledge seasoned trading professionals navigate this exciting space successfully. #CryptoGist #TradingWins #tradingjourney #tradingquotes #makemoney #CryptoGist

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