Here’s a shocking truth: Over 90% of crypto traders quit in their first year!
One of the main reasons is that they pursue the wrong goals.
In most cases, people start trading because they want to make money (nothing wrong with that). They set goals like “I want to make 10k in 3 months” or “100k in one year.”
The problem is that these are goals no one can control (even the world’s best trader couldn’t).
Uncontrollable goals lead to uncontrolled actions.
👉 The result: Traders make wrong decisions, lose money, and ultimately stop trading.
💡Here’s a better way to do it: Successful people (not only in trading) usually focus on tasks, not goals.
Don’t get this wrong. Of course, they have goals.
But here’s the trick: They break down the goals into required tasks & focus on their execution.
It’s a small yet essential perspective change.
Let’s make this tangible 👇 Instead of focusing on making 100k, you break down this goal into required actions:
For example: ‣ Educate about trading: 1h daily ‣ Build trading strategies: 2h daily ‣ Backtesting: 3 times/week ‣ Document and automate processes: 2h/week ‣ Journal your trades daily ‣ Analyze your trades once a week
As a next step, you continue focusing on the execution of the actions, tracking, monitoring, and improving them.
This might sound boring, but it is exactly what you must do.
Alex Hormozi once said: Extraordinary accomplishments come from doing ordinary things for extraordinary periods.
And this is precisely what will happen if you consistently execute the defined tasks. You will reach the overall goal.
Summarized, here’s what you need to do to reach your trading goal:
✅ Set a goal ✅ Break it down into actionable tasks ✅ Execute the tasks consistently ✅ Celebrate your success!
If you want to be one of the crypto traders who don’t quit, you can check out Crypto OS. It’s the platform I developed based on the mistakes I made. It contains data-driven trade signals, backtests, trading bots, and much more. Check my X Profile for the link: @ben__crypto23 #trading
$IOTA — Ichimoku Short Signal on the Hourly Chart — 14% Potential
Our multi-timeframe Ichimoku signal is getting better constantly. Here's an interesting signal on the 1H chart.
IOTA flashed a short signal base with a potential of 14%. Backtests show a high reliability of 90% for 2% gains and 72% for more than 10% gains.
Trend indicator look good for a short. Momentum show signs of oversold territories. However, probably still worth a try. Although I wouldn't go for the entire 14% and take profits earlier.
-- If you want more, free trade signal, you can check out Crypto OS. It's a platform that provides free, data-backed trade signals and much more. Link in my Twitter profile.
I had a couple of traders asking how it is possible that there are so many crypto tokens with long and short signals at the same time. Is that bug? Does it really make sense?
👉 So, here's a quick explanation. First off, YES, it does make sense.
The majority of signals we see on the 1D chart are bullish RSI, or bearish Parabolic Traders signals.
Here's why: The Parabolic Trader is a signal that tries to ride the last wave of a trend. It enters when the RSI is already oversold (or overbought, depending on the direction) and assumes that there's some more potential.
The RSI on the other side, predicts a trend reversal and therefore predicts a trade in the opposite direction.
👉 Which signal is better or more accurate? Usually both, it's just a matter of time and timing. Once the Parabolic Trader signals pop up, you can expect some more downside potential before we flip.
As always the question is just when we flip :)
Happy trading!
-- If you want more, free trade signals you can check out Crypto OS. More details in my Twitter bio.
The crypto market RSI further declined and sits at a value of 32 today.
Accordingly, we are getting very close to a major bounce. During the last 2 years, the RSI level between 32 - 27 served as a major resistance. As result, the RSI never dove deeper.
Important fact: A bounce does not necessarily mean that we aim for new heights — but we should definitely see a nice relief rally.
-> If you want more analysis charts like this check out Crypto OS.
Ocean is diving deep in oversold RSI waters. Historically, this has led to a strong bounce every time.
Usually, the price went up more than 10% during the next 10 days. However, this doesn’t mean that it can’t go a bit lower first. So be careful with your stop loss.
— If you want more, free trade signals you can check out Crypto OS. It’s entirely free. Check my Twitter bio.
Here's one of the most promising trade signal we've developed recently.
The Ichimoku signal utilizes different Ichimoku attributes to identify a trade.
However, and more importantly, it's the first signal we calculate that includes multiple timeframes. Thereby, the signal should achieve a thorough reliability.
Currently, we are still fine tuning the signal since the backtests aren't perfect at all times — just like for the below example.
However, I wanted to share it to show you what's cooking.
-- By the way: You can access all signals for free on Crypto OS. Check my Twitter profile for more details.
We're getting closer to the turn-around — yet we are not there!
The chart below shows the average RSI of 200 crypto tokens. The 30-level has been THE bouncing spot during the last two years. Currently, the RSI is at 33-34.
Therefore, on the macro level, I expect some more weak days/weeks before we see a major bounce.