Day 1-2: Trading Preparationâą Define your âwhyââą Identify your short and long-term goalsâą Define your risk tolerance and capital allocationDay 2-6: Trading Basicsâą Research trading types (scalp, intraday, swing, position)âą Study financial markets (stocks, forex, crypto, commodities)âą Choose a style and market that suits you
Day 6-12: Building a Foundationâą Consume YouTube, books, and podcastsâą Book suggestion: âThe Disciplined Traderâ by Mark Douglasâą YouTube suggestion: Inner Circle Traderâą Podcast suggestion: Words of Rizdom
Day 12-14: Trading Setupâą Ensure your hardware and software are optimal for tradingâą Create an organized and productive trading station
Day 14-22: Technical and Fundamental Analysisâą Learn price charts, time frames, candlestick patterns, price action, trends, market structure, and support and resistanceâą Study fundamentals such as economic indicators, global events, and more
Day 22-25: Learn Risk Managementâą Stop-loss and take-profit ordersâą Risk planningâą Risk-to-reward ratio (RR)âą Position sizing and margin
Day 25-27: Navigate Trading Emotionsâą Learn psychological factors that drive price actionâą Study the Wall Street âPsychology of a Market Cycleâ Cheat Sheetâą Develop stress management techniques in trading
Day 27-29: Develop a Trading Plan and Strategyâą Create a systematic method for identifying trade setupsâą Establish a trading journalâą Implement timeframe analysis
Day 30: Test Your Plan and Strategy:âą Backtest your plan and strategy on a demo accountâą Analyze your results and refine your planDay 30+: Execute Live Tradesâą Transition to trading a live accountâą Start low and slowContinuous:âą Never give upâą Learn from your mistakesâą Work toward a life of abundance and freedom by trading
Halving đž - the biggest event in the crypto industry.
What is it and why should you care? Let me explain in simple terms...đđ»
đ Halving - a pre-planned event where the reward for mining and verifying new blocks is reduced by 50%, meaning miners will only receive half of the amount of Bitcoin they used to get.
đąWhy is Halving needed...
Reducing the reward decreases the rate of new Bitcoins being mined, effectively lowering their inflation rate. Halving occurs approximately every four years and is part of the mechanism controlling the circulation of Bitcoins, aiming to limit the total number of Bitcoins to 21 million.
đąWhat does it impact...
Halving draws attention to the crypto market, not only to Bitcoin itself , but also to altcoins. Investors may become more optimistic about the growth potential of crypto assets. This enthusiasm may lead to increased investments in alts, causing their prices to rise đ Additionally, since the mining reward for Bitcoin is reduced, some miners may switch to mining altcoins with higher rewards.
Now you understand why there is anticipation in the altcoin market and why it is expected to make a move within a month...
Billy Markus, co-founder of Dogecoin, known for his playful attitude towards cryptocurrencies, jokingly tweeted for Bitcoin to hit $1 million per coin while he slept. This tweet coincided with Bitcoin's price dropping by 11% from its recent high of $73,737. Despite the humor, some see it as a reflection of Bitcoin's potential to revolutionize finance. As Bitcoin gains acceptance, the idea of it reaching $1 million isn't as crazy as it once seemed. đ #btc #dogecion #Bitcoin(BTC)