Mr_Wolff512
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Whatever Happened, The House Must Win (part 2)
Anyway, back to copy trading. Some LTs are really good (so far). They have good PnL, tight stop loss, good strategy. Most of LTs are rubbish. Big players with large AUM, large margin, they are the worst. They will keep adding fund while the market against the play, while followers with limited instantly liquidated. To survive and play smart in copy trading, here are my suggestions :
- Choose a good LT, decent PnL and copier PnL, see their position history. If more reds than green, pass. If his PnL green but copier PnL red, pass. See how long they trade, and look for consistency
- Don't put all your fund at once. Choose the smallest required amount. If you have 1k for example, put 100 (choose the LT with minimum 100). Follow the trade. Once the direction is right, keep playing. Add more fund when LT does. There will be rollercoaster, but if your liquidation point safe, you may keep playing.
- Secure your profit. Once the profit is enough, close partially (or all, up to you). Set stop loss in safe point. Don't be greedy.
Best way to earn money is investing. Buy good coins, stake them, wait patiently. Pay attention to the narrative.
But hey, what's the point of living without dopamin rush, right? 😀
Stay safe, play safe, mind your mental and financial health.
Have a good day.
Anyway, back to copy trading. Some LTs are really good (so far). They have good PnL, tight stop loss, good strategy. Most of LTs are rubbish. Big players with large AUM, large margin, they are the worst. They will keep adding fund while the market against the play, while followers with limited instantly liquidated. To survive and play smart in copy trading, here are my suggestions :
- Choose a good LT, decent PnL and copier PnL, see their position history. If more reds than green, pass. If his PnL green but copier PnL red, pass. See how long they trade, and look for consistency
- Don't put all your fund at once. Choose the smallest required amount. If you have 1k for example, put 100 (choose the LT with minimum 100). Follow the trade. Once the direction is right, keep playing. Add more fund when LT does. There will be rollercoaster, but if your liquidation point safe, you may keep playing.
- Secure your profit. Once the profit is enough, close partially (or all, up to you). Set stop loss in safe point. Don't be greedy.
Best way to earn money is investing. Buy good coins, stake them, wait patiently. Pay attention to the narrative.
But hey, what's the point of living without dopamin rush, right? 😀
Stay safe, play safe, mind your mental and financial health.
Have a good day.
Whatever Happened, the House Must Win (part 1)
Trading, especially future is like taking meat from lion. If we play it smart and fast, the lion won't have time to maul you. But if we're sloppy, the lion will eat you for taking its meat.
There's always a difference in chart between Spot and Future. We'll often see sharp spikes both up and down in future charts that can't be found in spot. That is when the house flushes your position. The house knew exactly your position, your stop loss, your target price, and all your ammunition.
Often, novice traders (like me) get frustrated doing trading alone, both of their own analysis or recommendations. Binance smartly added Copy Trading feature, which allows retailers to follow lead traders (LT). LT may be big players with large sums of margin, or small traders who try their luck. Novice traders think LTs are good, based on PnL, MDD, AUM, ROI etc. Most will put their money and sleep, hoping the LT magically doubled their money overnight. What really happened is, when they woke up, the money magically gone. 😭 See the chatroom, many people scream, curse, even wrote death threat to LTs, beside those online beggars (sometimes suicidally) search for sympathy.
Future trading is not for everyone. Mostly we trade future in exchange for dopamine spike seeing our portos multiplied fast. Yes, most future traders are the impatient one. Addicted. It is a gamble. We know so little gamblers win. In the end we all will lose. Took a hard lesson to transform future gamblers to become responsible traders. You have to feel the pain of losing your hard earned money. You have to feel the pain imagining if you bought things, vacations, food, clothes, cars, land, house, or even hot curvy blonde prostitutes, instead of donating them to Binance. Then you'll stop. You start to learn how to trade, how to read the market, candlestick etc. And you gamble again. Lose again.
Trading, especially future is like taking meat from lion. If we play it smart and fast, the lion won't have time to maul you. But if we're sloppy, the lion will eat you for taking its meat.
There's always a difference in chart between Spot and Future. We'll often see sharp spikes both up and down in future charts that can't be found in spot. That is when the house flushes your position. The house knew exactly your position, your stop loss, your target price, and all your ammunition.
Often, novice traders (like me) get frustrated doing trading alone, both of their own analysis or recommendations. Binance smartly added Copy Trading feature, which allows retailers to follow lead traders (LT). LT may be big players with large sums of margin, or small traders who try their luck. Novice traders think LTs are good, based on PnL, MDD, AUM, ROI etc. Most will put their money and sleep, hoping the LT magically doubled their money overnight. What really happened is, when they woke up, the money magically gone. 😭 See the chatroom, many people scream, curse, even wrote death threat to LTs, beside those online beggars (sometimes suicidally) search for sympathy.
Future trading is not for everyone. Mostly we trade future in exchange for dopamine spike seeing our portos multiplied fast. Yes, most future traders are the impatient one. Addicted. It is a gamble. We know so little gamblers win. In the end we all will lose. Took a hard lesson to transform future gamblers to become responsible traders. You have to feel the pain of losing your hard earned money. You have to feel the pain imagining if you bought things, vacations, food, clothes, cars, land, house, or even hot curvy blonde prostitutes, instead of donating them to Binance. Then you'll stop. You start to learn how to trade, how to read the market, candlestick etc. And you gamble again. Lose again.
What parameters you must pay attention in choosing Lead Trader? Share in the comment plz
Fastest way to lose money in Binance goes to : COPY TRADING.
Yes, copy trading. To all Binancian who think CT can be a good way to earn money in auto-pilot fashion, you are wrong. I learned it in hard way.
I split my investment in spot, earn/staking, and future before. A year in future trading doing my own trade and recommendations from VIP groups ends up in PnL around -15k USDT.
Tired of losing, I tried copy trading, copying 3 lead trader (each 5k). First week, they gave consistent gain, then I started being optimistic and a little bit impatient, and I switch to other LT with bigger PnL and AUM.
I chose Lin*n_bitm*x and put 8k. First it gave good result, then I didnt follow the market, it crashed, my 8k got liquidated. Eight f#*king thousand dollars! What a sloppy and irresponsible trader he was, no stop loss, when market goes against the trade, he keep adding fund, while the followers got liquidated.
My second mistake, I choose J*sm*ne_gemhunt**88, I put 16K. This one is worst, when BTC dumped, she also didnt put stop loss, buy at peak price, and keep adding fund. Absolutely r*bbish strategy. Any monkey with money can do that. I got liquidated in one night.
Total my loss in copy trading was -24k in just two weeks. Binance must thank me for such generous donation 😅😅😅.
If you choose to copy trade, here's my suggestion :
- Choose LT with good PnL and good strategy. You can see the position history. If closes lots of small loses and wins relatively good gain, it means they have tight SL.
- Don't left your fund alone, monitor the trade. Close manually if you think the gain is good enough or the loss is too much. Dont wait and pray, the LT doesnt care your position. LT with big monet will keep adding fund, while you will be liquidated.
- No one can predict the market. I repeat, close manually if you think the gain is good enough. Trust your gut feeling.
Best way to earn money in crypto, is still spot/staking if you choose good coin and have patient to wait.
Have a good weekend.
Yes, copy trading. To all Binancian who think CT can be a good way to earn money in auto-pilot fashion, you are wrong. I learned it in hard way.
I split my investment in spot, earn/staking, and future before. A year in future trading doing my own trade and recommendations from VIP groups ends up in PnL around -15k USDT.
Tired of losing, I tried copy trading, copying 3 lead trader (each 5k). First week, they gave consistent gain, then I started being optimistic and a little bit impatient, and I switch to other LT with bigger PnL and AUM.
I chose Lin*n_bitm*x and put 8k. First it gave good result, then I didnt follow the market, it crashed, my 8k got liquidated. Eight f#*king thousand dollars! What a sloppy and irresponsible trader he was, no stop loss, when market goes against the trade, he keep adding fund, while the followers got liquidated.
My second mistake, I choose J*sm*ne_gemhunt**88, I put 16K. This one is worst, when BTC dumped, she also didnt put stop loss, buy at peak price, and keep adding fund. Absolutely r*bbish strategy. Any monkey with money can do that. I got liquidated in one night.
Total my loss in copy trading was -24k in just two weeks. Binance must thank me for such generous donation 😅😅😅.
If you choose to copy trade, here's my suggestion :
- Choose LT with good PnL and good strategy. You can see the position history. If closes lots of small loses and wins relatively good gain, it means they have tight SL.
- Don't left your fund alone, monitor the trade. Close manually if you think the gain is good enough or the loss is too much. Dont wait and pray, the LT doesnt care your position. LT with big monet will keep adding fund, while you will be liquidated.
- No one can predict the market. I repeat, close manually if you think the gain is good enough. Trust your gut feeling.
Best way to earn money in crypto, is still spot/staking if you choose good coin and have patient to wait.
Have a good weekend.