⚠️ Before you buy any currency or enter any trade.. read this!
🔍 7 MUST steps before entering any trade:
1️⃣ Check the overall market direction
· BTC is king: If BTC is in a downward trend, 80% of coins will follow
· Use EMA 50: If the price is above it → Uptrend, if below it → Downtrend
2️⃣ Look for support and resistance areas
· Support: Buying area (price rebounds here)
· Resistance: Selling area (price struggles to break through)
· The example:
· Buy at support
· Sell at resistance
3️⃣ Ensure the trading volume is adequate
· High volume = real interest
· Low volume = unreliable movement
· Safe rate: Daily trading volume > $100 million
4️⃣ Use the RSI indicator
· Above 70: Overbought (beware of buying)
· Below 30: Oversold (potential buying opportunity)
· Ideal level: RSI between 40 and 60
5️⃣ Define your goals and risks
· Risk/Reward ratio: No less than 1:2
· Example:
· Potential loss: $50
· Target profit: $100+
6️⃣ Always use Stop-Loss
· The golden rule: Do not lose more than 2% of your capital in a trade
· Example: If your capital is $1000, set Stop-Loss at a loss of $20
7️⃣ Avoid major news
· Do not trade before:
· Inflation announcements
· Federal decisions
· Elon Musk tweets
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🛑 5 conditions where entering a trade is prohibited:
1. ❌ If you are tired or angry
2. ❌ If the market is in a tight sideways range
3. ❌ If the RSI indicator is above 80 or below 20
4. ❌ If the trading volume is low
5. ❌ If you do not have a clear plan
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💡 Final advice from professionals:
· Start with a small capital ($100-$500)
· Focus on only 2-3 currencies
· Learn from your mistakes (log every trade in Excel)
🌌 In conclusion:
"Trading is not gambling.. it's a science that requires strategy and patience!" 🧠
#Safe_Trading #Golden_Tips #Beginners
