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I trade for a living. Some knowledge I would to give you for beginners:
)If it's good enough for a screenshot, take profits)If you feel anything trading you do it wrong. Lower your sizes or take a break. You are your own biggest enemy)Don't follow anyone's TA blindly. You most likely won't understand their thought process to react quickly) NEVER OVERTRADE there will be boring times. Don't take unnecessary trades they'll lose you money. Stick to your plan) protect capital seriously, losing money Is incredible worse than missing out on gains. Losing buying power lowers your future ROI of any trade while taking profit early is still profit. Don't get greedy) Markets are PvP. Statistically, 76% of retail traders lose money. (84% in 2022) You compete with people putting 8-16h/day effort into it with a years long experience. You basically just joined a professional marathon where only the top places win.) NEVER mix up luck with actual skill.) Do not get unmotivated it will take an incredible amount#BinanceLaunchpool #bitcoinhalving #BullorBear #Megadrop #daytading $BTC $SOL
Don't Get REKT! Psychology Tips for Beginners
The crypto space is exciting, but emotions can cloud your judgment. Here are some psychology hacks to stay level-headed and make informed investment decisions:
OMO vs. Research: Don't chase trends blindly! Research projects before investing. Chasing FOMO (Fear Of Missing Out) can lead to costly mistakes.DYOR & Chill: Do Your Own Research and understand the tech behind a project. Don't get hyped by empty promises.Don't Panic Sell: Crypto markets are volatile. Stay calm during dips. Remember your investment thesis and long-term goals. (Most important)Set Realistic Expectations Don't expect to get rich quick. Crypto is a marathon, not a sprint.Invest What You Can Afford to Lose Only invest what you're comfortable losing. My suggestion would be 5%.
You can follow reputable crypto sources and analysts, but always form your own informed decisions!
Want to learn more about crypto Trading psychology? Follow me for daily insights and tips!
#HotTrends #BTC🔥🔥🔥🔥 $BTC #ETH
OMO vs. Research: Don't chase trends blindly! Research projects before investing. Chasing FOMO (Fear Of Missing Out) can lead to costly mistakes.DYOR & Chill: Do Your Own Research and understand the tech behind a project. Don't get hyped by empty promises.Don't Panic Sell: Crypto markets are volatile. Stay calm during dips. Remember your investment thesis and long-term goals. (Most important)Set Realistic Expectations Don't expect to get rich quick. Crypto is a marathon, not a sprint.Invest What You Can Afford to Lose Only invest what you're comfortable losing. My suggestion would be 5%.
You can follow reputable crypto sources and analysts, but always form your own informed decisions!
Want to learn more about crypto Trading psychology? Follow me for daily insights and tips!
#HotTrends #BTC🔥🔥🔥🔥 $BTC #ETH
Top 3 crypto trading strategies for the best gain
Cryptocurrencies can be an effective way to build wealth, but it's crucial to have a strategy. Here are 3 approaches to consider:
1. Buy-and-hold: This strategy involves buying cryptocurrencies and holding them for the long term. It's a good option for those who believe in the future of cryptocurrencies.
2. Sell high on the market: This involves buying cryptocurrencies when prices are low and selling them when prices are high. This strategy requires timing the market, which can be risky.
3. Crypto arbitrage: This strategy involves taking advantage of price differences between different cryptocurrency exchanges. It requires experience and can be complex.#HotTrends
1. Buy-and-hold: This strategy involves buying cryptocurrencies and holding them for the long term. It's a good option for those who believe in the future of cryptocurrencies.
2. Sell high on the market: This involves buying cryptocurrencies when prices are low and selling them when prices are high. This strategy requires timing the market, which can be risky.
3. Crypto arbitrage: This strategy involves taking advantage of price differences between different cryptocurrency exchanges. It requires experience and can be complex.#HotTrends
Ive noticed 2 things that are usually the main reason I blow accounts in future.
Deviating from the plan and impulsively risking too much.Trading even after reaching my daily profit goal. #HotTrends
#HotTrends Best crypto trading strategy for Novice
Some traders are making +25% gains on trades day to day. All the coins listed on Binance only go up or down a couple percentage points each day.
I've seen some guys also make "millions" by swapping for sh*tcoins on PancakeSwap, but I know most of you really don't want buy and lost everything.
Here's some recommend strategy and tips you can use on a daily basis to make good trades and gains each day.
First and most important - before you kick your horses on any trade, learn to do research on Blockchain, use cases, tokenomics, token utility, demand-supply dynamics, past performance, team, Github commits, recent announcements etc. - Once you practice enough, you will know ins and outs of a project in minutes.
Second, if you can't learn how to do research, don't ask for trading strategy advice. Because, in that case, you will be chasing shitty shady YouTubers and Tweeters anyways - no advice works in that case.
If you do learn how to do research - you wouldn't need a lot of strategy to trade Crypto yet. There aren't a whole lot of variables and complexities like in traditional finance market. It's bull or bear and pump or dump mostly depending on macro, project, team and investors.
DCA your fave crypto, buy in when you notice significant lows on portfolio, buy the minimum amount in case of further lows.
Good luck and be patient when you see gains, HODL hard, remind yourself too think long term gains.
Some traders are making +25% gains on trades day to day. All the coins listed on Binance only go up or down a couple percentage points each day.
I've seen some guys also make "millions" by swapping for sh*tcoins on PancakeSwap, but I know most of you really don't want buy and lost everything.
Here's some recommend strategy and tips you can use on a daily basis to make good trades and gains each day.
First and most important - before you kick your horses on any trade, learn to do research on Blockchain, use cases, tokenomics, token utility, demand-supply dynamics, past performance, team, Github commits, recent announcements etc. - Once you practice enough, you will know ins and outs of a project in minutes.
Second, if you can't learn how to do research, don't ask for trading strategy advice. Because, in that case, you will be chasing shitty shady YouTubers and Tweeters anyways - no advice works in that case.
If you do learn how to do research - you wouldn't need a lot of strategy to trade Crypto yet. There aren't a whole lot of variables and complexities like in traditional finance market. It's bull or bear and pump or dump mostly depending on macro, project, team and investors.
DCA your fave crypto, buy in when you notice significant lows on portfolio, buy the minimum amount in case of further lows.
Good luck and be patient when you see gains, HODL hard, remind yourself too think long term gains.
