Escobar2448
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Bullish
My trading results the last 30 days, as a complete newbie.
I have been liquidated twice, and it derives from the lack of strategy.
At first, I learnt all the candlestick patterns, hoping that it can made consistent returns. Then I started to trade by predicting the outcomes.
I start with newly listed altcoins, speculating that maybe, I can get my substantial boost. $KAITO and $SHELL comes to mind. Maybe, I can benefit from its volatility.
However, I came to a realization that I am a very emotional person. Seeing the candlesticks swinging violently within seconds made me fixated. I forgot to be aware with my surroundings. I have a family, a wife and two twin children which needs attention.
Frequently, I closed position whenever it gets minus even it is only within the range 1-2 % loss with no leverage, since I didn’t know what leverage means at the beginning, and vice versa.
Then my emotion caught up. Thinking that I need a greater returns, that is when I started to learn the concept of leverage. Then I put all my accounts, 100x for Buy/long position. The outcome? I got liquidated. I proceed with revenge trading, adding another USD60 to the account with reversed position. Then I get liquidated again.
They say that it makes a great trader to be profitable during bearish market, and the last 30 days have given me the truth that trading is not easy, it needs conviction, risk management and adverse of emotion.
Then what do I do?
I learnt that your conviction is a priority during trade. I need to know the crypto which I predicted against. I read all the news within cryptosphere and I realized that I am not convinced enough to trade in newly listed coins, since I dont know what makes them moves.
So I stick with $BTC , since it was widely available news. My strategy is a simple support and ressistance. I lessen my leverage, and put my TP/SL within a reasonable level, and the results lately are satisfactory.
I hope that this can be consistent.
Cheers to everyone. Hope that we can grow from our trading experiences 🍻
I have been liquidated twice, and it derives from the lack of strategy.
At first, I learnt all the candlestick patterns, hoping that it can made consistent returns. Then I started to trade by predicting the outcomes.
I start with newly listed altcoins, speculating that maybe, I can get my substantial boost. $KAITO and $SHELL comes to mind. Maybe, I can benefit from its volatility.
However, I came to a realization that I am a very emotional person. Seeing the candlesticks swinging violently within seconds made me fixated. I forgot to be aware with my surroundings. I have a family, a wife and two twin children which needs attention.
Frequently, I closed position whenever it gets minus even it is only within the range 1-2 % loss with no leverage, since I didn’t know what leverage means at the beginning, and vice versa.
Then my emotion caught up. Thinking that I need a greater returns, that is when I started to learn the concept of leverage. Then I put all my accounts, 100x for Buy/long position. The outcome? I got liquidated. I proceed with revenge trading, adding another USD60 to the account with reversed position. Then I get liquidated again.
They say that it makes a great trader to be profitable during bearish market, and the last 30 days have given me the truth that trading is not easy, it needs conviction, risk management and adverse of emotion.
Then what do I do?
I learnt that your conviction is a priority during trade. I need to know the crypto which I predicted against. I read all the news within cryptosphere and I realized that I am not convinced enough to trade in newly listed coins, since I dont know what makes them moves.
So I stick with $BTC , since it was widely available news. My strategy is a simple support and ressistance. I lessen my leverage, and put my TP/SL within a reasonable level, and the results lately are satisfactory.
I hope that this can be consistent.
Cheers to everyone. Hope that we can grow from our trading experiences 🍻
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