Is it the beginning of the end or the end of the beginning? #7
Updated
Good traders have a special talent for trading just as good musicians and good athletes have talents for their fields. Great traders are ones who are absorbed by the talent. They don't have the talent— the talent has them.
In 1637, tulips in Holland traded for 5,500 florins and then crashed to 50, a 99 percent loss. Well, you might say, "Trading was relatively new then; these people were primitive; capitalism was still in its infancy. Today we are much more sophisticated." So you go to 1929 and find a stock like Air Reduction which traded at a high of $233 and after the crash fell to $31, a decline of 87 percent. OK, you might say, "The Roaring '20s were crazy times, but now things are surely different." Move ahead to 1961 and you find a stock called Texas Instruments trading at $207. It eventually dropped to $49, a decline of 77 percent. If you think we have gotten more sophisticated in the 1980s, all you have to do is look at silver prices, which in 1980 reached a peak of $50 and subsequently fell to $5, a 90 percent decline.
I can also count you over hundreds coins from crypto. Please, check my last post on twitter. You will surprise it!
The point is that because people are the same, if you use sufficiently rigorous methods to avoid hindsight, you can test a system and see how it would have done in the past and get a fairly good idea of how that system will perform in the future. That is our edge.
My crypto trading strategy has been working well for years! Let me share it with you one more time!
1 ) Trade with BTC pair in a bull market, trade with USDT pair in a bear market. Don’t confuse it!
2 ) Less is more! Don’t use more than 4 – 5 indicators at the same time.
Trend lines, Moving Averages, RSI , Fibonacci levels and Chart patterns. Drawing lines are the most important indicators in any market.
3 ) Averaging down is the worst strategy. Averaging up is much better! You should buy coins when they’re on the way up in price, not on the way down.
4 ) Never forget 20 / 80 rule. 80 % traders lost money to 20 % to traders / investors.
5) Trend is your friend. Don’t fight with it!
6 ) Buy coins/ stocks as much as you can track easily. If you are comfortable to track 10 coins, Then You should buy max 10 coins not more!
7 ) Don’t risk more money than you could afford to lose without ruining yourself.
8) Be so picky who to follow in the market! Over 80% are people are loser. Don’t follow the crowd.
9 ) Every 50% loss began as a 10% or 20% loss.. Learn to always sell coins quickly when you have a small loss rather than waiting and hoping they’ll come back.
10) If you have a loss on a trade after a week or two, you are clearly wrong. Even when you are around breakeven, but a significant amount of time has passed, you are probably wrong mere too.
Ohhhh, You want to lose money in crypto? That's also easy!
1 ) Follow blindly crypto gurus on twitter ! Watch CNBC news ! Be the part of Pump & dumps telegram groups
2 ) Buy the coin / stock with a hype! Not knowing where to buy / sell . Not Using STOP LOSS after breaking the strong support levels
3 ) See Crypto / Stock / Forex market as an easy place to make money ! ( If you know the place to become an overnight millionaire , please let me know ASAP )
4 ) Not investing your time / energy and money into education! Hesitating to buy trading books - Join useful events - Attend paid workshop as long you see the value.
5 ) Forgetting that Cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time. Over 90 % coins are dead after the biggest pump in 2014.
At the beginning, Trade small because that's when you are as bad as you are ever going to be. Learn from your mistakes. Don't be misled by the day-to-day fluctuations in your equity. Focus on whether what you are doing is right, not on the random nature of any single trade's outcome.
TARGET? The charts speaks itself!
**** Just started to read " Reminiscences of a Stock Operator ", I recommend you all to read it if you guys are not reading any trading books on these days!
In 1637, tulips in Holland traded for 5,500 florins and then crashed to 50, a 99 percent loss. Well, you might say, "Trading was relatively new then; these people were primitive; capitalism was still in its infancy. Today we are much more sophisticated." So you go to 1929 and find a stock like Air Reduction which traded at a high of $233 and after the crash fell to $31, a decline of 87 percent. OK, you might say, "The Roaring '20s were crazy times, but now things are surely different." Move ahead to 1961 and you find a stock called Texas Instruments trading at $207. It eventually dropped to $49, a decline of 77 percent. If you think we have gotten more sophisticated in the 1980s, all you have to do is look at silver prices, which in 1980 reached a peak of $50 and subsequently fell to $5, a 90 percent decline.
I can also count you over hundreds coins from crypto. Please, check my last post on twitter. You will surprise it!
The point is that because people are the same, if you use sufficiently rigorous methods to avoid hindsight, you can test a system and see how it would have done in the past and get a fairly good idea of how that system will perform in the future. That is our edge.
My crypto trading strategy has been working well for years! Let me share it with you one more time!
1 ) Trade with BTC pair in a bull market, trade with USDT pair in a bear market. Don’t confuse it!
2 ) Less is more! Don’t use more than 4 – 5 indicators at the same time.
Trend lines, Moving Averages, RSI , Fibonacci levels and Chart patterns. Drawing lines are the most important indicators in any market.
3 ) Averaging down is the worst strategy. Averaging up is much better! You should buy coins when they’re on the way up in price, not on the way down.
4 ) Never forget 20 / 80 rule. 80 % traders lost money to 20 % to traders / investors.
5) Trend is your friend. Don’t fight with it!
6 ) Buy coins/ stocks as much as you can track easily. If you are comfortable to track 10 coins, Then You should buy max 10 coins not more!
7 ) Don’t risk more money than you could afford to lose without ruining yourself.
8) Be so picky who to follow in the market! Over 80% are people are loser. Don’t follow the crowd.
9 ) Every 50% loss began as a 10% or 20% loss.. Learn to always sell coins quickly when you have a small loss rather than waiting and hoping they’ll come back.
10) If you have a loss on a trade after a week or two, you are clearly wrong. Even when you are around breakeven, but a significant amount of time has passed, you are probably wrong mere too.
Ohhhh, You want to lose money in crypto? That's also easy!
1 ) Follow blindly crypto gurus on twitter ! Watch CNBC news ! Be the part of Pump & dumps telegram groups
2 ) Buy the coin / stock with a hype! Not knowing where to buy / sell . Not Using STOP LOSS after breaking the strong support levels
3 ) See Crypto / Stock / Forex market as an easy place to make money ! ( If you know the place to become an overnight millionaire , please let me know ASAP )
4 ) Not investing your time / energy and money into education! Hesitating to buy trading books - Join useful events - Attend paid workshop as long you see the value.
5 ) Forgetting that Cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time. Over 90 % coins are dead after the biggest pump in 2014.
At the beginning, Trade small because that's when you are as bad as you are ever going to be. Learn from your mistakes. Don't be misled by the day-to-day fluctuations in your equity. Focus on whether what you are doing is right, not on the random nature of any single trade's outcome.
TARGET? The charts speaks itself!
**** Just started to read " Reminiscences of a Stock Operator ", I recommend you all to read it if you guys are not reading any trading books on these days!
Trade active
Set buy order at 2700 satoshiTrade active
Still waiting at 2700 satoshi.Trade active
Let's recap my previous XRP trades.Bought at 5000 satoshi
Sold at between 9,000 - 10,000 satoshi
Bought at 7000 satoshi
Sold at 6400 satoshi
Waiting to buy at 2700 satoshi
Trade active
The most critical level for XRP! Be ready!Comment
If you are interested in ALGO trading, Check out my masterpiece #EngineeringRobo.Got my first bitcoin in Oct 2013.
Became a full time day trader in Nov 2016.
Got the ALGO trading idea in May 2019
Started to search about it in June 2019
Backtesting since Sep 2019
Pre-Launch last week with 50 people!
If you're serious about mastering the art of trading you need to start using the same tools as the winners.
Less risk. More confidence. Better trading results with EngineeringRobo!
You can test drive it yourself for 7 days at EngineeringRobo.com
Less risk. More confidence. Better trading results with EngineeringRobo!
You can test drive it yourself for 7 days at EngineeringRobo.com
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