I'd like to tell you what you need to know making consistent money from crypto trading!
Unofficial estimates suggest that more than 90% of would-be traders eventually fail, wash out, and turn to safer hobbies. But the brokerage industry rarely publishes client failure rates because they're likely concerned the truth will scare off new accounts. In reality, the washout rate could be much higher than 90%.
Long-term profitability requires two related skill sets. The first is to identify a set of strategies that make more money than they lose and then to use the strategies as part of a trading plan. Second, the strategies must perform well while the market experiences both bull and bear impulses.
Start with a clear and concise plan with proven strategies and then leverage the 10 rules that follow.
1. Stick to Your Discipline
The important lesson is that, once a trader has confidence in their trading plan, they must have the discipline to stay the course, even when there are the inevitable losing streaks.
2. Lose the Crowd
Long-term profitability requires positioning ahead of or behind the crowd, but never in the crowd because that’s where predatory strategies target.
3. Engage Your Trading Plan
Update your trading plan weekly or monthly to include new ideas and eliminate bad ones. Go back and read the plan whenever you fall in a hole and are looking for a way to get out.
4. Don’t Cut Corners
Your competition spends hundreds of hours perfecting strategies and you’re in for a rude awakening if you expect to throw a few darts and walk away with a profit. The only way to achieve long-term success is with hard work and discipline.
5. Don’t Break Your Rules
You create trading rules to get you out of trouble when positions go badly. If you don’t allow them to do their job, you’ve lost your discipline and opened the door to even greater losses.
6. Watch for Warnings
Big losses rarely occur without multiple technical warnings. Traders routinely ignore those signals and allow hope to replace thoughtful discipline, setting themselves up for pain. In short, keep an eye out for early signs that market conditions are changing and creating risks to your positions.
7 . Never Ignore Technical Patterns
On a very basic level crypto chart patterns are a way of viewing a series of price actions which occur during a coin trading period. It can be over any time frame – monthly, weekly, daily and hourly. The great thing about chart patterns is that they tend to repeat themselves over and over again. This repetition helps to appeal to our human psychology and trader psychology in particular.
8. Organize Your Personal Life
Whatever is wrong in your life will eventually carry over into your trading performance. This is especially dangerous if you haven’t made peace with money, wealth, and the magnetic polarity of abundance and scarcity. Keep your trading needs separate from your personal needs, and take care of both.
9. Learn From Your Mistakes
Trading is one of the few professions where losing money every day is a natural path to success. Every trading loss comes with an important market lesson if you’re open to the message. Also, know when to quit and take a break from trading. Accept the losses, take time to regroup, and then come back to the market with a new perspective.
10. Always Consider EngineeringRobo's Signals
The Engineeringrobo is a great ally in all financial markets - when the price moves the algorithm will automatically show Buy and Sell orders when there is a best opportunity to make a profit. It is a just SMART trading script on TradingView that brings the easiest approach to trading with a high profitability rate. Its unique algorithm find profitable coins, stocks and based on their , VPVR, ATR, Fibonacci Levels, Dynamic, Moving Averages, , , , , Volumes and Price Changes to give you entry and exit ideas.
Use EngineeringRobo's 7 different robots that fit well with your trading plan, but remember that, ultimately, you are the one calling the shots.
TARGET? The charts speaks itself!
Most of you are asking me what I think about Bitcoin's current position. As long as Bitcoin is inside this triangle, you will find so much great opportunites to make money from altcoins. The triangle will continue until THE LATEST JUNE 21, two weeks from now!!!
If it breaks down, you should get a confirmation from the candle before take any sell decision. The ultimate target will be $6150 if the the candle will open- close below the uptrendline ( Blue line ).
If it breaks up, you should get a confirmation from the candle before take any buy decision. The ultimate target will be $13700 if the the candle will open- close above the on $10500 ( Red line ).
It can take yearn how to properly read charts & understand the different pairs to be able to successfully & consistently pick the right trades, and even then, with all the experience in the world, traders still have to spend hours & hours sitting in front of computer screens analysing the markets & news while trying to control human emotions in order to be successful.
It’s not easy at all and can be extremely stressful & time consuming!
It’s actually the human emotions that are responsible for a lot of mistakes that traders make, they could have had an argument with their partner, could be stressed over bills or even something as small as a bad nights sleep can have an affect on how they trade.
You see, computers have no emotions and the software identifies patterns in the market based off of historical data.
But It’s eliminating the bad trades made out of emotions such as fear, greed and excitement that is the real game changer here!
So if you would like to know more then go ahead and visit our website to find out what this is all about and get your 7 day free trial today!
But only a few really understand how much work goes into that goal. It involves countless hours of research, reading, and analysis.
The key to success in this trading business, in my opinion, is 👇
With Sell 2, I will be targeting $7777 and $6200 levels! Chart speaks itself.
If you’d like to become a successful trader, don’t be afraid to change your mind. A lot. Market conditions can change really quickly, and one thing’s a certainty. They will keep changing. Your job as a trader is to recognize those changes and adapt to them. One strategy that works really well in a specific market environment may not work at all in another.
Let’s read what legendary trader Paul Tudor Jones had to say about his positions:
“Every day I assume every position I have is wrong.”
It’s good practice to try to take the other side of your arguments to see their potential weaknesses. This way, your investment theses (and decisions) can become more comprehensive.
This also brings up another point: cognitive biases. Biases can heavily affect your decision-making, cloud your judgment, and limit the range of possibilities you’re able to consider. Make sure to at least understand the cognitive biases that may affect your trading plans, so you can mitigate their consequences more effectively.
( Green cloud gave buy signal at $7030 on April 17, 2020 ,it continued until May 10, 2020 )
Buy 1 signal was continue from $6600
Moon signal was continue from $7100
Buy 2 signal was continue from $6950
Bull signal was continue from $7115
Sell 1 appeared at $9000 on May 24, 2020
Hell signal appeared at $8700 on May 3 , 2020
Sell 2 appeared at $8900 on May 1, 2020
Bear signal appeared at $8900 on May 3, 2020
Buy 1 signal started at $8900 on May 25, 2020
Buy 2 signal started at $9000 on May 4, 2020
Buy 3 signal started at $9460 on May 7, 2020
EngineeringRobo's Green cloud started at $9300 on May 13, 2020
Moon signal started at $9350 on May 13, 2020
Bull signal started at $8900 on May 4, 2020
Sell 1 appeared at $9500 on Jun 2, 2020
Sell 2 appeared at $9600 on May 9, 2020
Sell 3 appeared at $9700 on May 9, 2020
EngineeringRobo's Green cloud is still continue at $9250 on May 23, 2020
Hell signal is still continue at $9400 on May 21, 2020
Bear signal is still continue at $8670 on May 9, 2020
Bull signal started at $9000 on May 13, 2020 - Bear signal started at $9550 on May 20,2020.
Bull signal started at $9100 on May 27, 2020 - Bear signal started at $9450 on June 2,2020.
Buy 2 signal started at $9050 on May 13, 2020 - Sell 2 signal started at $9300 on May 15, 2020
Buy 2 signal started at $8900 on May 26, 2020 - Sell 2 signal started at $9600 on June 2, 2020
As a summary,
"" EngineeringRobo brought you combined more than 15% profit in May""
You can also see it on the proof ( shared on EngineeringRobo's twitter & telegram accounts) - Around $2,800 profit!
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!
Get your 7day free trial today!