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After earning 30 million, I would like to share how to build my own trading system to achieve stable profits. This should be very useful for novices who have just entered the currency circle.
Before you start trading, it's a good idea to write down on paper every trade you plan to make, detailing the market trends you predict and how you plan to respond. Why do we do this? Where should your take profit and stop loss be? Another crucial thing is to document your operating plan and what you will do if the market moves against your predictions.
For example, if you expect Bitcoin to rise to 50,000 and want to open a long position, write this information down on paper. Make a note of what you think is the support level, and at which support level you would open a long position, and what would happen if the price fell below that support level. What would you do if the actual movement of the market was different from what you expected when you opened the position?
After the transaction is over, whether you are taking profits or leaving the market with a stop loss, you should look back at your notes before the transaction and examine whether your thinking at the time was wrong.
For example, if you set your support level too close, is it easy to trigger your stop loss? Or is it because the mentality of blindly chasing the rise and killing the fall has led to errors in judgment? After four to five transactions, summarize and analyze the deficiencies in your order ideas, and make adjustments in the next transactions. Through this cyclical process, you will eventually be able to build your own trading system. #BTC #etf #ETH