#TakeProfits What great news to be among the 1.76% most profitable of the 120 million users of this platform 🥳 #ROI
I share some of my 11 rules and personal trading strategies:
1) Not every day can be traded, but every day you can (and should) read charts and look for entries.
2) Never trade against the general market trend, in such case. Remember rule number 1.
3) In a bull market, and since we are starting the fifth phase of the cycle, I only trade Longs. Remember rule number 2.
4) My risk management (peace of mind): Maximum leverage of 10x (very exceptionally 15x, rarely use 5x). Managing a wide margin is better than overtrading; the stop loss depends 50% on the chart and 50% on the context - volatility, margin, number of open trades, timeframe, etc. Optimize gains and minimize losses - it sounds logical, but many do not know how to take profits and prolong losses.
5) Ambition: Ambition can be your worst enemy, control your emotions.☝️ Start with a daily reference target, test if you achieve it, if not, readjust it. Once defined, increase it in proportion to the funding of your account, always remembering the 4 and 1 rule.
6) Comparative analysis: technical analysis, discretionary analysis, on-chain analysis.
7) Do not overload your technical analysis with indicators. They will generate noise among themselves, doubt, and confuse you.
Sometimes less is more; I use a maximum of 3 or 4. The rest is recognition of structures and fractality.
8) Cross analysis: with other high-cap assets, and with other assets of the same narrative.
9) Look for new options, but also create your safe zone (family assets): Do a retrospective analysis of how an asset behaves over time. Does it pump? Is it very volatile? (breaks stop loss) Is it volatile but safe to trade? Is it low volatility but has long accumulation phases and then explodes? etc. (Follow point 9)
10) Family assets: If you already understand and know an asset, and you've had good returns from it, add it to your list of "family assets". Visit it frequently and re-enter when it gives you the signal. It's better to trade a known asset than an unknown one.
11) Macroeconomics and fundamentals: pay attention to macroeconomic data, dates, and earnings releases.
Be attentive to the fundamentals that can move the price of your assets.
Exciting, don't give up, make mistakes, but never stop learning!
🤜✨🤛
Knowledge is power!
Sincerely: Crypto Machine