To become a successful trader and achieve highly profitable trades, you need a combination of the right mindset, discipline, and a clear strategy. Here are the top 5 essential tips to achieve this goal:
1. ✅ Create a written trading plan and stick to it
You must determine when to enter the trade, when to exit, the risk ratio, and the targets.
Never trade randomly or based on just a "feeling".
Your plan should include:
The type of analysis used (Technical – Fundamental – On-Chain)
The approved indicators.
Conditions for entry and exit.
Trade size and leverage if applicable.
2. 🧠 Capital management and risk are more important than accurate predictions
Do not risk more than 1-3% of your capital in a single trade.
Always use stop-loss to protect your account from collapse.
Calculate the risk-to-reward ratio (R:R) and only enter when it is 1:2 or better.
3. 📊 Rely on a proven strategy based on statistics
Test your strategy historically (Backtesting) and in real-time (Forward testing).
Use indicators such as:
Stochastic RSI with MACD confirmation
Bollinger Bands to identify price explosion areas
Volume Profile to understand liquidity and smart areas
EMA 200 to determine the overall trend
Do not rely on just one indicator; look for signal confluence.
4. 🧘♂️ Control your emotions – do not chase the market or seek revenge
Do not enter a trade because you lost and want to quickly recover.
Do not be afraid of missing an opportunity; the market always provides new opportunities.
Be patient: a successful trader acts like a professional "hunter" waiting for the right moment.
5. 🧠📚 Invest in your self-development continuously
#CardanoDebate Follow the most important economic news, especially related to the market you are trading in (e.g., interest news, inflation data, Federal decisions, or crypto news).
Learn from your previous trades – whether winning or losing.
Use tools like TradingView, Glassnode (for On-Chain), and CoinGlass to understand the market deeply.
📌 Golden takeaway
Trading is a game of probabilities, not certainties. Winning does not mean you are always right, but that you know how to win more than you lose when you are right.