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#Tradeoftheweek I have learnt that having a small balance is not a barrier as long as you build on the momentum and ensure that you preserve the earned profit and build on it . The compounding power is real. Below are ametur scalping trading reminders 1. Always use 1 to 3 % of your portfolio in each trade 2. Set stop loss 3. Always book atleast 50% of profit at tp1 4. Research on the funding fees to see if its beneficial or not 5. Trailing stop loss. If you trade hit tp1. Move your stop loss to breakeven or to profit level. A little profit is better than nothing or losses on top of losses
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#Altcointrade Lets face it guys . In as much as altcoins offer the opportunity to quickly realise profits due to high volatility in these coins . They also offer a short road to liquidation as they are easily manipulated. I used to believe that the trade will.not go otherwise because of huge blocks on order books but its sad that it doesnt mean anything really in some situations. I would also be greedy and fail to take profit at tp 1 hoping that holding on to tp 3 without partially taking profits was going to result in me earning more. Sadly some of the trades never returns to breakeven , the 90% traders desperate prayer where you will be vouching to exit at breakeven .
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#Tradelessons The biggest lesson I have learnt is to use 1% of your portfolio. You can only get better and have another chance of perfecting your strategies if you have the capital to do so . However the human nature in us wants quick returns and results and we would rather leave a few points between entry price and liquidation price and cross our fingers that the trade will go in our favor which fails 100% of the time. We cant even open an opposing trade to hedge because there will be no capital to do so. You cant even do DCA. How is the feeling of getting those margin call alerts of blowing the account. I have learnt the hardway that there is a fine line between trading and gambling.
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#MostRecentTrade Insanity and Insomnia in trading is real. Doing the same thing over and over again expecting different results. DCA could not even the save situation. Sometimes it is better to just let the trade hit a stop loss and move on. Removing a stop loss is so nerve wrecking. You cant sleep well or even leave the device or machine. Somehow you feel like watching the trade will enable you to intervene which is absurd because it takes a split second for the situation to go from bad to worse
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#TradeStories Time and again it has become apparent that it is not a good idea to go long on coins already listed on binance. However , I always find myself experiencing FOMO. How i wish binance had a feature just like cooling off but with an opportynity for one to restrict number of trades per day so that i can always stick to my trading plan and not waiver. The best i can do now is to restrict such announcements because it is always ending in tears for an amateur like me. How can i do better in large sums if i cant manage such a small balance
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