Which if you do not deviate from and read it over carefully and let me reiterate not to sound like a broken record but I’ve had people complain that they follow the rules and try to blame me for losing money only to go over what happened and find out that they slipped up by deviating..
When I say do not deviate what I mean is My 10 Commandments is applicable to any Forex trading styles and Regardless of the it even works for day traders And I’ve tested it hell I’ve memorized it and I still use it to this day and it yields about an 8.7/10 success rate on all entries with 96.9% accuracy in figures and timeframes with a 9.2/10 Success rate with 87.3% accuracy in figures and time frames and a staggering 9.9/10 Success rate with a 50-50 in figures/time for a bit when I mean by that is that my TA (Everybody’s for that matter) Is not set in stone at the time of publication and is subject to change based on indicators and news anomalies other factors and so because other traders like myself are usually juggling between multiple platforms and possible portfolios It is simply Impossible For me to update and reallocate/re-calibrate figures and time frames for TA on every publication whenever said changes happen—- Especially in the market like this that is in its infancy, extremely volatile and never closes!
Factor in the fact that it’s a global market and you have an impossible situation where The only way your portfolio is 100% safe is if you never sleep which more often than not there during bull runs I end up doing (Load up on caffeine and nicotine— I Self in a lot of other traders on CT I’ve come to notice will be up all day for 3 to 4 days during the initial carry through and then set stop losses before adjusting alerts on my I watch/forward and taking a rest for some downtime usually timed right around when the market is oversold and we’re transitioning into alt-season— These 12 hours or so are critical as It is really the only time you have to rest before you have to be up at other three days to do the same thing you did for the bull road except for sniping off alts...Even if you do everything right there can still be some freak accident like some piece of crap fraudster or what happened with Binance today or In 2012 mt gov .
Why am I saying all this?
Not to be a Debbie downer who tries to tear anyone who has aspirations of becoming a forex trader themselves but to brace them for the painful and sobering reality that crypto trading is not easy money it is by no means a cakewalk and if you are looking for a pay day/lotto ticket that ship sailed with the early adopters and we are in the deep sea right now so it’s sink or swim.
I recall after the great crash at the start of crypto winter they put the national suicide hotline on the cryptocurrency sub Reddit that’s how bad things were for people were actually mortgaging their houses to fomo in.
So let this be a lesson to anybody that actually reads it— Yes I have made a healthy and prosperous sustainable living forex trading the past half decade and even during Cryptowinter for all of 2018 I have other measures in place to supplement my income such as mining/leveraging/margin/debugging++ I have other measures in place to supplement my income such as mining/leveraging/micro loans/Buy stocks and trade those/ Freelance development gigs either web development graphic design writing or even helping other token developers in that advisory or consultation capacity.
- So the key take away from my rant over here is:
1) Always at your stop loss is always trade with your head and never your gut and do not ever be lulled into a false notion that this is easy money because you saw some dumbass tweet that he made 50 grand in five minutes ask yourself when you go to the casino and see somebody playing craps who happens to win 50 grand in 30 seconds does that make You rush over to play craps without any impulse or second thought? NO!! Absolutely not.
2) Because you’re just gambling at that point and once you start to lose more than You’re lot of threshold (covered in my 10 commandments - trade using the buffet model) People start to unravel and lose all sense of objectivity so the irony is the more money they lose rapidly the less likely they are to bounce back that I’ve seen this happened to even the most seasoned traders it’s psychological and has nothing to do with talent it is only human nature to panic when you see your hard earned money rapidly dropping, However remember that every drop has a bounce and While you will still take a hit if you can take a deep breath and take control of the situation you could wait for that bounce and then short at the top of consolidation resistance / support to mitigate a catastrophic loss into a “not so bad “ one.
Greed is the number one enemy of all forex traders.
You have to be willing to bite the bullet and take an L from time to time not every entry is guaranteed ROI and if greed is number one that would make pride fear and stubbornness 2-4 with 5) being impulsivity.
Not gonna bother including a disclaimer in this publication because I’ve basically written this entire oped as one lengthy extended disclaimer.
The human psyche is very weird. It’s common sense to buy low and sell high even people that don’t trade know that yet for whatever reason the influx of new crypto traders always come at the high-rise of the bullruns.
It is for this reason why I felt it necessary to include this link the disclaimer because we’re seeing a lot of tears and a lot of figures and projections being thrown out there but not a lot of accountability or foresight/forethought by these other traders that Some poor new trader might come along see how many followers you have and how many likes your TA yields and prematurely concludes “Oh there’s no way he could be wrong look at the number of people that think you’re right!” And dumps his life savings on What you and I and every other seasoned trader knows is merely speculation and an educated guess but We have Seen so many charts and drawn so many lines that We just assume that everybody knows that it’s a given. to those traders I ask you to try to reminisce to what it was like when you started trading and more specifically How bad it felt when you had your first real lost... And don’t tell me you never had a real big loss because every trader has or they are lying and if they aren’t lying they aren’t traders for The only way to maintain zero loss margin is to simply HODL, Which if you’re a person who’s working a full-time career with a family to take care of I would rather advise you to do just that than try to take on something that is unfortunately and undoubtedly very stressful and time consuming.
With that being said set your stop loss emotion this is a short term sale/entry.
P.S. I used Siri voice command to Hit the little microphone button and talk into my phone to write this up at so forgive the little grammatical errors as I do not have time to proofread and I am not at my right now. When I get home before the Asian markets get Poppin I will make sure To update this publication as well as the other two I posted today with calibrated figures / timelines.
In the meantime, Take every traders opinion with a grain of salt— ESP my own! It could be overwhelming with a lot of people there with a lot of figures out there as a newb you’ll instinctively flock to the influencer Who has the most followers and subscribers but bear in mind that a lot of these guys just like myself started as tech / programmers and After discovery blockchain we learned to forex trade so Just because you see a video of an influencer Using a lot of confusing crypto/Blockchain related terminology and vocab does not make them Any better of a Forex swing trainer than the guy with 40 subscribers and 20 views— It just means they are more consistent and better content creators and if they aren’t giving you this whole spiel I’m doing it for you and for them and shame on them because they know what they’re doing is wrong.
Cheers. Peace and love.