Do you really want to be profitable in crypto?

Let me tell you my story...

Some time ago I asked one of my mentors, annoyed and worried, "Professor, I'm not yet profitable and I've already done "everything" to be profitable, but I can't do it."

He looked at me and asked, "Have you really done everything already?"

Answer, yes

He responded, “Okay, show me the statistics for a month of operations please.”

I know that it is an intrusion into the most sacred privacy we have and something that few would dare to reveal and not so much for reasons of honor, but often for security. Distressed, I showed him the balance of a month and with that he was able to give me an unforgettable lecture.

"How do you want to be retable if your losses exceed your gains!" He said.

First, he noticed that although he had an amazing success rate of winning trades, 21 out of 30, yes, an incredible 70% win rate, that was not enough, because most trades had profits of 5 to 14 dollars, while In the 9 non-winning trades, the losses ranged from 48 to 93 dollars. This meant that I had a negative equity even with that success rate, because, even if my 21 winning trades were all of 15 dollars per day, I would only have 315 dollars, while in 9 days, even with the minimum loss presented of 48 dollars in Each trade my loss would be -432 dollars, this means that in general terms I would have a loss of -117 dollars from the account.

My mentor said —So really everything ehhh...—

I answered —The thing is, once I start winning in my operation, I move my stop to profit to ensure even some profit—

Without my mentor saying anything else, I realized that I didn't really understand what risk over benefit is.

If you really want to be profitable... The answer is simple.

Let your profits run to TP or SL!

Do absolutely nothing else, just wait for your TP or your SL, nothing to secure a little or move the SL. Manage a risk of 1 to 3% of your account, take statistics and evaluate what you have done.

AMTrading