Savvymich
I love crypto, and just want to connect with the thoughts of other traders.
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RISK MANAGEMENT
What are you doing wrong, lossing your capital trading?
It shouldn’t surprise you to know that people incur loss in the market, the only difference between you and them, is they determine their loss while in your case, the market is determining your loss.
Here are few tips in going about risk management. If you’re trading derivatives:
The first I'll advice is, get crypto education before you even think of trading Crypto.
Before every trade make sure you’ve properly done your analysis and observed the chats to confirm which trend the market is going.
Always set your stop loss as well as take profit with every open trade.
Don’t be greedy. Use the Binance calculator (it’s one of the most powerful tool you can have as a beginner trader) to determine your percentage take profit, stop loss, PnL, liquidation and all possible scenario before entering the trade as a beginner.
Use smaller leverage to avoid quick liquidation. I advise 10X and below for beginner traders.
After placing your order, trust your setup, the worst that can happen is your trade hitting stop loss.
Be patient. Don’t panic and close your trade before it hits your stop loss. One time, I closed a trade before it hit my stop loss, only for the trade to reverse and hit my take profit, I was really pained. I had held the trade for 4 days only to close at a loss before hitting stop loss and just when I closed, market reversed just as I was chickening out. Don’t be like me.
Never trade against market trend. You see a market is in an uptrend, and somehow your head is telling you to short the market without even seeing a break of current structure to the downtrend.
If you hit stop loss, take a deep breath and take a stroll out if you know you can’t control yourself from reentering the trade almost immediately. Your emotions plays a critical role in your trade, manage it well.
At the end of each day, reexamine each of your trade and check out reasons it played the way it did, document your lessons, and get better.
I hope this helps someone out.
#Write2Earn
What are you doing wrong, lossing your capital trading?
It shouldn’t surprise you to know that people incur loss in the market, the only difference between you and them, is they determine their loss while in your case, the market is determining your loss.
Here are few tips in going about risk management. If you’re trading derivatives:
The first I'll advice is, get crypto education before you even think of trading Crypto.
Before every trade make sure you’ve properly done your analysis and observed the chats to confirm which trend the market is going.
Always set your stop loss as well as take profit with every open trade.
Don’t be greedy. Use the Binance calculator (it’s one of the most powerful tool you can have as a beginner trader) to determine your percentage take profit, stop loss, PnL, liquidation and all possible scenario before entering the trade as a beginner.
Use smaller leverage to avoid quick liquidation. I advise 10X and below for beginner traders.
After placing your order, trust your setup, the worst that can happen is your trade hitting stop loss.
Be patient. Don’t panic and close your trade before it hits your stop loss. One time, I closed a trade before it hit my stop loss, only for the trade to reverse and hit my take profit, I was really pained. I had held the trade for 4 days only to close at a loss before hitting stop loss and just when I closed, market reversed just as I was chickening out. Don’t be like me.
Never trade against market trend. You see a market is in an uptrend, and somehow your head is telling you to short the market without even seeing a break of current structure to the downtrend.
If you hit stop loss, take a deep breath and take a stroll out if you know you can’t control yourself from reentering the trade almost immediately. Your emotions plays a critical role in your trade, manage it well.
At the end of each day, reexamine each of your trade and check out reasons it played the way it did, document your lessons, and get better.
I hope this helps someone out.
#Write2Earn
BREAKING: Nancy Pelosi’s portfolio, once again, has hit a new all time high.
She is up 84.30%.
This year alone, her positions have made over three million in gains.
She is up 84.30%.
This year alone, her positions have made over three million in gains.
"IT IS NOT POSSIBLE TO MAKE CONSISTENT GAIN TRADING FUTURE"
please read this.
In a business that deals in percentage, you can agree with me that numbers matters. A person trading with $10k and a person trading with $100 won't have the same PnL if there were to stick to the same % in taking profit and also in incurring loss.
Let's use 5% as a case study. 5% of $10k is $500 while 5% of $100 is $5
The attached picture, is a 5% gap for 10X in a coin, margin are close and 99% attainable.
For someone trading with 10k, it's easy to close trade with just 5% in profit, while the person trading $100 might not want to close and would want to wait for like 40 - 50% in profit before closing a trade, now that's where the problem is.
There's no guarantee the market will give you 50% before you take profit, it might just get you liquidated first before going for your TP.
So is it true one can't make consistent gain on the futures market? NO, one can.
How to win the futures game.
1. Trading with bigger capital, this gives you a better return per %( It also gives you leverage not to be liquidated if played right)
2. Learn to discipline your appetite for money, remembering that crypto is not a get rich quick scheme. Trade at a certain percentage each day, and try not o exceed it regardless.
3. If you're Trading small funds, trade low priced coins, it gives better ROI. If $SOL goes from $97 to $98 the profit s not as much as a coin going from $2 to $3.
4. Trade with little leverage, I advise 10X
5. Be patient, patiently wait and confirm your set up before jumping into the market.
Remember, in Crypto, you're your own bank, it is your duty to protect your funds.
#Write2Earn $MANTA $TIA
please read this.
In a business that deals in percentage, you can agree with me that numbers matters. A person trading with $10k and a person trading with $100 won't have the same PnL if there were to stick to the same % in taking profit and also in incurring loss.
Let's use 5% as a case study. 5% of $10k is $500 while 5% of $100 is $5
The attached picture, is a 5% gap for 10X in a coin, margin are close and 99% attainable.
For someone trading with 10k, it's easy to close trade with just 5% in profit, while the person trading $100 might not want to close and would want to wait for like 40 - 50% in profit before closing a trade, now that's where the problem is.
There's no guarantee the market will give you 50% before you take profit, it might just get you liquidated first before going for your TP.
So is it true one can't make consistent gain on the futures market? NO, one can.
How to win the futures game.
1. Trading with bigger capital, this gives you a better return per %( It also gives you leverage not to be liquidated if played right)
2. Learn to discipline your appetite for money, remembering that crypto is not a get rich quick scheme. Trade at a certain percentage each day, and try not o exceed it regardless.
3. If you're Trading small funds, trade low priced coins, it gives better ROI. If $SOL goes from $97 to $98 the profit s not as much as a coin going from $2 to $3.
4. Trade with little leverage, I advise 10X
5. Be patient, patiently wait and confirm your set up before jumping into the market.
Remember, in Crypto, you're your own bank, it is your duty to protect your funds.
#Write2Earn $MANTA $TIA
Crypto Market Correction.📈📈📈
I know you're looking for hope, hoping to hear something that will comfort you as the market tanks even further.
Yeah, I'm sorry, I don't have that to give you or anyone.
The rules remains the same: invest only what you can afford to lose.
Advice?
avoid leverage trading or now. If you must use Futures, set strict stop loss to avoid loss of capital.
Preserving capital is the most important job now.
Buy dips of very good projects, and hodl.
For the newbies, is good I tell you now, THIS IS NOT THE FIRST MARKET DUMP, NOR THE FIFTH, NEITHER WILL IT BE THE LAST, after every night, there's always a day.
Rest easy.
I know you're looking for hope, hoping to hear something that will comfort you as the market tanks even further.
Yeah, I'm sorry, I don't have that to give you or anyone.
The rules remains the same: invest only what you can afford to lose.
Advice?
avoid leverage trading or now. If you must use Futures, set strict stop loss to avoid loss of capital.
Preserving capital is the most important job now.
Buy dips of very good projects, and hodl.
For the newbies, is good I tell you now, THIS IS NOT THE FIRST MARKET DUMP, NOR THE FIFTH, NEITHER WILL IT BE THE LAST, after every night, there's always a day.
Rest easy.
There Never would be a bull market if we don't first see blood in the market.
Who will FOMO when the bulls come?
Who will FOMO and pump the price higher?
Who are we going to dump the bag on after the bull run?
The only thing I'll advice against would be leverage trading, right now the only thing we're certain of is this "THE MARKET IS MOVING MAD"
😂😂😂
But if you DCA on spot, you'll be fine.
I'm bullish regardless, because I'm willing to wait it out.
#TradeNTell #BTC #sol
Who will FOMO when the bulls come?
Who will FOMO and pump the price higher?
Who are we going to dump the bag on after the bull run?
The only thing I'll advice against would be leverage trading, right now the only thing we're certain of is this "THE MARKET IS MOVING MAD"
😂😂😂
But if you DCA on spot, you'll be fine.
I'm bullish regardless, because I'm willing to wait it out.
#TradeNTell #BTC #sol
It's a happy Monday regardless.
Regardless of bulls and bears, you'll win if you hodl.
Remember, you can only hodl what you can spare.
This is me telling you subtly two things:
1. Invest only your spare money for crypto.
2. The Market will surely favour the patient and diligent trader.
Crypto wealth is transferred from the impatient trader to the one that has the heart to hodl regardless, so long the project is promising.
I feel bullish, overall.
Regardless of bulls and bears, you'll win if you hodl.
Remember, you can only hodl what you can spare.
This is me telling you subtly two things:
1. Invest only your spare money for crypto.
2. The Market will surely favour the patient and diligent trader.
Crypto wealth is transferred from the impatient trader to the one that has the heart to hodl regardless, so long the project is promising.
I feel bullish, overall.
What you need to know about crypto Futures trading.
Futures trade is a type of contract agreement to buy and sell a crypto currency at a particular time in the futures and at a particular price.
It helps traders buy and sell coins they don't own while making profit off it.
It's one of the quickest ways to accumulate funds as a trader, howbeit it being the quickest, it comes with its share of difficulty and uncertainty.
Futures trading also gives you options to borrow from the market (leverage) thereby potentially increasing your Profit as well as your loss multiple folds.
Who should trade future?
1. Any person with adequate understanding of technical and fundamental analysis.
2. Any person with proper guidance on how to to place a futures order and when to place it.
How do you get started?
First you have to understand that the futures market is risky, and you can lose all your money, and agree to this fact, so you can prepare yourself mentally.
Then you've got to understand how futures works by understanding what buttons does what action and by learning to accurately place an order on the futures platform if given a signal on when to either buy or sell a particular coin.
for further update on trading futures, or understanding trading on binance, kindly follow and keep tab with me.
$BTC $ETH
Futures trade is a type of contract agreement to buy and sell a crypto currency at a particular time in the futures and at a particular price.
It helps traders buy and sell coins they don't own while making profit off it.
It's one of the quickest ways to accumulate funds as a trader, howbeit it being the quickest, it comes with its share of difficulty and uncertainty.
Futures trading also gives you options to borrow from the market (leverage) thereby potentially increasing your Profit as well as your loss multiple folds.
Who should trade future?
1. Any person with adequate understanding of technical and fundamental analysis.
2. Any person with proper guidance on how to to place a futures order and when to place it.
How do you get started?
First you have to understand that the futures market is risky, and you can lose all your money, and agree to this fact, so you can prepare yourself mentally.
Then you've got to understand how futures works by understanding what buttons does what action and by learning to accurately place an order on the futures platform if given a signal on when to either buy or sell a particular coin.
for further update on trading futures, or understanding trading on binance, kindly follow and keep tab with me.
$BTC $ETH
Lessons I learnt so far from crypto trading
Trade only what you can afford to lose.
A crypto trader must learn to put his/her emotions in check. Don't trade emotions.
Trust your setup at all cost and while trusting your setup, it is important to know that trusting a setup while running at a loss is very difficult, therefore make sure you use stop loss.
It is better to loss 10% than let your blood pressure raise over a 50% loss especially when you don’t have enough funds to support the trade. Learn to cut your loss.
Don’t be careless, always learn to take profit before screenshots.
Never trade against market trend.
Stay away from assets with too much volatility.
Avoid chasing green candles, especially in spots.
Avoid trading above 10X on futures. This is my personal philosophy, and a safety pin.
Review your trades every day at the end of the day, make corrections and recommendations to making the next trade better.
Be patient. If your entry is good, and you’ve got a good stop loss and a take profit order, then you’re good. Give it time.
You’ll lose some, gain many, let go of your fears.
Avoid the futures market if you less than $50, you'll likely be tempted to use much leverage in order to make more profit, thereby probably blowing your account.
more to come...
#BTC #ETH $BTC
Trade only what you can afford to lose.
A crypto trader must learn to put his/her emotions in check. Don't trade emotions.
Trust your setup at all cost and while trusting your setup, it is important to know that trusting a setup while running at a loss is very difficult, therefore make sure you use stop loss.
It is better to loss 10% than let your blood pressure raise over a 50% loss especially when you don’t have enough funds to support the trade. Learn to cut your loss.
Don’t be careless, always learn to take profit before screenshots.
Never trade against market trend.
Stay away from assets with too much volatility.
Avoid chasing green candles, especially in spots.
Avoid trading above 10X on futures. This is my personal philosophy, and a safety pin.
Review your trades every day at the end of the day, make corrections and recommendations to making the next trade better.
Be patient. If your entry is good, and you’ve got a good stop loss and a take profit order, then you’re good. Give it time.
You’ll lose some, gain many, let go of your fears.
Avoid the futures market if you less than $50, you'll likely be tempted to use much leverage in order to make more profit, thereby probably blowing your account.
more to come...
#BTC #ETH $BTC
BITCOIN💰 ETF ♟️
What you need to know.
Most of you must have been hearing of bitcoin ETF you're wondering what is this Bitcoin ETF
let's skip the complexities, let me give you a simple explanation.
Imagine you have a special toy, let's call it "Bitcoin." This toy is unique and valuable to many kids. Now, what if you want to share the fun of playing with your special toy with lots of friends without giving them the actual toy? That's where the Bitcoin ETF comes in!
The Bitcoin ETF is like a magical box that represents your special toy. Instead of giving your friends the actual toy, you can give them a piece of the magical box, and they can enjoy the fun of playing with it too! This magical box, or ETF, is traded on the grown-up's playground, the stock market.
So, when adults want to invest in Bitcoin but don't want to deal with the complexities of buying and storing the actual digital currency, they can buy shares of this magical box. Each share represents a piece of the fun, just like your friends getting a piece of the magical box.
And just like when you want to trade toys with your friends, adults can buy and sell these magical boxes on the stock market without actually dealing with the Bitcoin toy directly. It makes playing with the special toy a bit easier for them, and everyone can have a piece of the excitement without having to take care of the actual toy!
WHY THIS?
If bitcoin ETF eventually gets approved, bitcoin will be opened to many more big bags who would want to own a piece of the profit of bitcoin, leading to a large influx of money, this will eventually lead to a surge in bitcoin value.
And if it gets disapproval, brace your self for a pullback in price
If the former is the case, and you see bitcoin surging towards $50 or $60k in minutes, please avoid jumping in on the ride. Of course this is not a financial advice.
There will always be a pull back and a better time for you to buy bitcoin, but please not when it's Skyrocketing on the spot.
Do not FOMO! Guard your emotions! Its a beautiful year already!
$BTC
What you need to know.
Most of you must have been hearing of bitcoin ETF you're wondering what is this Bitcoin ETF
let's skip the complexities, let me give you a simple explanation.
Imagine you have a special toy, let's call it "Bitcoin." This toy is unique and valuable to many kids. Now, what if you want to share the fun of playing with your special toy with lots of friends without giving them the actual toy? That's where the Bitcoin ETF comes in!
The Bitcoin ETF is like a magical box that represents your special toy. Instead of giving your friends the actual toy, you can give them a piece of the magical box, and they can enjoy the fun of playing with it too! This magical box, or ETF, is traded on the grown-up's playground, the stock market.
So, when adults want to invest in Bitcoin but don't want to deal with the complexities of buying and storing the actual digital currency, they can buy shares of this magical box. Each share represents a piece of the fun, just like your friends getting a piece of the magical box.
And just like when you want to trade toys with your friends, adults can buy and sell these magical boxes on the stock market without actually dealing with the Bitcoin toy directly. It makes playing with the special toy a bit easier for them, and everyone can have a piece of the excitement without having to take care of the actual toy!
WHY THIS?
If bitcoin ETF eventually gets approved, bitcoin will be opened to many more big bags who would want to own a piece of the profit of bitcoin, leading to a large influx of money, this will eventually lead to a surge in bitcoin value.
And if it gets disapproval, brace your self for a pullback in price
If the former is the case, and you see bitcoin surging towards $50 or $60k in minutes, please avoid jumping in on the ride. Of course this is not a financial advice.
There will always be a pull back and a better time for you to buy bitcoin, but please not when it's Skyrocketing on the spot.
Do not FOMO! Guard your emotions! Its a beautiful year already!
$BTC
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