Be knowledgeable in this four areas and you'll outperform the average trader
👉 Technical Analysis - With technical analysis, you can unlock valuable insights into potential ENTRY and EXIT points for your trades. Learn how to read charts, so as to be able to predict the next moves.
👉 Risk Management - Don't get caught up with a single trade, spread your wings and diversify your portfolio. Just like professional traders who juggle 20-50 trades at once, diversification helps you weather market storms. When one sector dips, another might be soaring, keeping your portfolio balanced and resilient.
👉 Position Sizing - Imagine having $1,000 to invest. You could go all-in on one trade, or you could be strategic like a seasoned pro. By dividing your investment into smaller positions, say $20 each for 50 trades, you spread the risk and maximize your potential gains. Feeling confident? Experienced traders might even consider adding 2x leverage to each trade (but remember, always be responsible and within your risk tolerance!).
👉 Emotional Control - Emotional control is the unspoken secret weapon of successful traders. No textbook can teach you this, it comes with experience and self-awareness. You'll learn from those inevitable silly mistakes, just like I did when I spent four years battling greed and fear. Remember, patience and discipline are key to mastering your emotions and making rational trading decisions.
BONUS 👉 when Coinbase app will become the most downloaded app on appstore, know it's time exit the markets. Right now it's not even among the top 100 most downloaded apps