A Cryptocurrency trader and investor since 2016. There are enough dollars for everyone to get rich (more are getting printed), so let's all get rich together.
Let us consider we are talking about Levergaed futures trading and not regular investing. Investing into a coin without any margin or any levergae is not the Trading we are talking about. For those trades your asolute loss is what you have invested.
Well, I personally have been trading futures since 2019 and the only way I could stop my capital decaying and actually make money was when I used stoplosses and when I tried to see the market for what it is rather than being emotionally attached with the shorts or longs.
First of all you need to have a rough understanding of the instrument your trading what the narrative behind that token is and specific reasons to why you think it has the potential to pump like crazy.
Let us be honest here, getting a 200% win and holding it to 500% is one of the biggest mental and psychological battles you will have to be ready to deal with at the same time you can't be sad about the fact once you sell the coin can go up much higher. You will also have to be cognizant of the fact that when the coin reaches certain levels there can be flash liquidations which might take off 100% of your profits in a blink of an eye.
Now, the only ways to survive are using 1.a.Stoplosses. b. Understanding the coin and its Utility. 2.Position management. 3.Mentally preparing yourself to be wrong. 4.Being patient in pullbacks. 5. Not revenge trading and taking higher risk positions to convert your existing losses. 6. Risk management. and most importantly, 7. Not getting Greedy.
Hope this post brings some value into your trading methology.
If you had been following a couple of posts I had put up earlier over the last few days we've got some great longs which were completely priceaction based and very safe lowrisk trades were taken.
Soo as we can see the #TOTAL3 chart shows that we are approaching the previous high from approximately 10 days ago.
But this time we will need a clear break above the levels and I am sure there will be a slight consolidation but we need a decisive break in both BTC and ETH to make sure we are carrying our longs in the various altcoins we had traded.
Currently I have my longs open in $INJ $ROSE $GLMR $GLM which are relatively higher tisk plays with lower leverage soo that I can hold them for much longer if there is a very positive upward move.
I am currently moving my stoplosses up by 3-4% from the buy prices because below those prices my higher high and higher low structure might get invalidated. Also don't mistake volatility for structural failures. If there is a structural failure in 1Hr basis then it could be an issue. Until then We golden.
Take care and use appropriate risk management. Enjoy the market.
I dont know why but why do all these content creators in binace and everywhete keep spamming you guys with potential 100x gains. Its deeply saddening.
The only way you can make those kind of returns is if you invest in smaller cap ALT coins which have great tokenomics. The is all considering the fact you have done your research and eventually invest in coins you like which ticks all the right boxes.
And you can't be making huge amounts of cash just like that maximum you'll be able to 10x or 20x that too with the current markets.
Look ill be honest with you be happy if you get a 5x, don't look at the previous returns and imagine you'll get the same, don't be greedy.
You need money to make money, and that's the cold hard truth.
I dont know if you haven't claimed these, if you haven't you can claim lil bits through my link. You'll get a few dollars I guess.
Claim the cryptobox if you haven't.
But for most of the bits of this, be ready and understand the risk your taking, if you put in 10k be ready to see it as 3.5k and that happens its the reality of crypto until it matures as a market.
Invest in safer coins, keep your capital and go home, If you wanna be a degen go ahead with $BEAMX $SUPER $INJ these are some coins I own. they are risky and I've just bought beam and super