This is a very important post for me. I have spent many years trying to understand: how to get a very high win rate and become a legend of trading? I have read a lot of books, I passed through different courses from experienced traders, mentors and gurus. I got as much information as possible trying to get the answer to my question.
And one day, I understood everything.
The secret was disclosed. And I’m going to share with you and help you become legends in trading.
What is the main reason that is pushing down your statistics and win rate? The answer is very simple - your loss trades. You close your trades in loss when the markets move against you and when the markets reach your stop orders. Closing unprofitable trades push your win rate down. But what if you don’t close such trades? No loss trades - nothing pushes your win rate down. If so, you can close only profitable trades and it will give you 100% win rate! How simple it can be done. Don’t you think so? From this moment you can add to your name “Legend” and to be proud of it. It’s cool and everyone can do this. You will become the hero for novice traders when they see your statistics. You will be proud of it, won’t you?
Just there is a one thing you should note.
You won’t be able to make profit in long run and probably you will blow up your capital and capitals of your followers. Only that.
Proper money management and 100% win rate are 2 things which don’t go together. When you trade properly with good money management, you always know that if the market moves against you, you have to fix loss. You know that without stop orders it’s impossible to think about profitable trading in long run. You must know that even you trade based on super profitable trading signals, strategies you will be able to face with period of losing trades which push you statistic down. “Legends” don’t like when their statistic moves down, for them it’s rather difficult to catch new followers. Their marketing becomes not so attractive. But are they interested in profitable trading of their followers? I don’t think so. For them the main thing is to sell your products and services and forget about you. For those who are really interested in profitable trading, good win rate is not so important. You can make a huge profit even with 30% of win rate. For such traders, proper trading is the most important thing and they follow it day by day. They understand that loss trades are part of profitable trading and proper money management helps them to pass through the periods when markets move against them.
Now it’s the time for you to think: would you like to become a legend or do you want to become a professional trader and make profit in long run?
I am preparing some tips that will help you in your trading journey and I will post them in a series of educational posts here on TV. Starting next week. I hope you find it useful, or if you don't I'm open to criticism, especially constructive one!
Comment
⋅
Dear friends! Thanks you very much for your comments! I'm very grateful for all your words you wrote below! I will try to reply your questions later of today and tomorrow.
I am following your analyses more than 6 months but dude you are same as as other technical traders in here.
When you all understand that technical trading is not working in Crypto world than after what you guess will become something
And also technical traders who already inside of market act with their emotions. Their analysis become subjective.
What you do is similar to fortune telling... %50 percent chance to say the truth.
Some of you lucky and makes consecutive good guesses and become very good technical trader by luck.
By the way what i say in here only for Crypto technical trading... i did not follow other markets and how things going on.
But all of you guys do not know a shit actually.
Now here is my golden advice for everyone.
Use an amount of money that you will not upset too much when you lost it.
Look at the charts of first 50 coin in volume. Check for the lowest and highest value of all time. And check the recent all time highs and lows in comparison of 1 year 6 months 3 months and 1 months and 1 week.
Take an average and just if it seems to you current value is lower than it suppose to be. Buy it.
If you get profit and reach your main capital withdraw it.
Than repeat.
whiskey4
⋅
@sozumdogan, yup i stopped day trading because of this. made wayyyy more gain in looking at market cycles of btc since it moves the markets. market cycles of coin you are trading and its all about finding best entries.
Mid term - long term setups. Much less frequency of trading few times a year, so your position will be heavier than a day traders position would be. But if you can gauge the btc, alt coin, market cap charts and figure out the market cycles there you will make much more profits.
BankShotBilly
⋅
@whiskey4, The most frequent trading mistake that most traders make is trading too often. Buy, hold, buy the dips, hold, hold on for dear life when the bears are in control, buy the dip again, repeat.
A 50 percent loss requires a 100 percent gain to recover and an 80 percent loss necessitates 500 percent in gains to get back to where the investment value started.
Every market trends up, you just have to have hands of steel.
freezepro
⋅
@sozumdogan, yeah, close to this conclusion as well. BY volume you mean trading vol or market cap?
DLavrov
⋅
@sozumdogan, Technical Analysis can be used in Crypto. Please, believe a guy who has been trading 10 years in Forex, Commodities and Crypto.
Dimitri what you are saying is absolutely true. When I started trading I blew up over $30,000 in 1 year for closing loosing trades, you brain will tell you: DONT WORRY, YOU WILL MAKE THIS $$ back in the next opportunity and the continuously pattern made me end up with less than $1,000. That was my biggest lesson of what not to do. Arter seeking for education now I am a better trader! But I had to learn from the mistake that you have described above! Thumbs up for this post!