New trading strategy:
1. Find an asset in which you believe, an asset you believe in the long term will 10x or 100x, do the research properly. Try to have a big portfolio for the trading of this asset ( the money you are willing to invest and the money you are willing to trade)
2. Do your fundamental and technical analysis.
3. Start your trading using the dollar cost averaging, place only small positions (in between 0.5% and 5% of portfolio, depending on the risk of the trade) how ever here it is with no stop loss, only take profit or you sell for a profit your self( this is how I like to do it most of the time), if after a rise you are able to place a stop loss that is in profit you may.
4. If you were unable to take profits, and you position is in the negative. You wait until it is in profit again, this is why it is very important to choose an asset with value. So technically, your loosing trades become long term investments.
For example, I do this with XRP, I did my research saw a tremendous value. I studied the charts, and I have been trading XRP for a week now, for now I have 3% of my original portfolio in investments, however with my trading I already gained back those 3%. So my profits are sitting as long term investments which I believe will 100x in the future.
This is why you want to focus on one asset, understand it and get familiar. By doing this, you will be holding an asset you truly studied and like, this takes away the fear of loosing money, because you don't see them as losses anymore but as investments.
The risks :
If you saw value in an asset which actually does not, you could loose all of your investment, so do your research seriously.
If you do your research but still are hesitant, or if down the line you forget why you started this, the fear could come back when you see all time lows and you could sell for a huge loss.
Basically, the risks are those that come with investing.
You also have the risks of day trading, which is completely logical as you are day trading or intraday trading.
The benefits:
If well executed, you will have no trades for a loss, only green !
It will be easier to accept a negative positions.
It brings you profit in the short term and brings you huge profits in the long term.
Since I "created' this strategy it has been working wonders for me so I wanted to share it.
If you like it, please get in contact with me, I always like to get new contacts who are traders.
If you have any questions please don't hesitate.
Thank you for reading,
Piers
1. Find an asset in which you believe, an asset you believe in the long term will 10x or 100x, do the research properly. Try to have a big portfolio for the trading of this asset ( the money you are willing to invest and the money you are willing to trade)
2. Do your fundamental and technical analysis.
3. Start your trading using the dollar cost averaging, place only small positions (in between 0.5% and 5% of portfolio, depending on the risk of the trade) how ever here it is with no stop loss, only take profit or you sell for a profit your self( this is how I like to do it most of the time), if after a rise you are able to place a stop loss that is in profit you may.
4. If you were unable to take profits, and you position is in the negative. You wait until it is in profit again, this is why it is very important to choose an asset with value. So technically, your loosing trades become long term investments.
For example, I do this with XRP, I did my research saw a tremendous value. I studied the charts, and I have been trading XRP for a week now, for now I have 3% of my original portfolio in investments, however with my trading I already gained back those 3%. So my profits are sitting as long term investments which I believe will 100x in the future.
This is why you want to focus on one asset, understand it and get familiar. By doing this, you will be holding an asset you truly studied and like, this takes away the fear of loosing money, because you don't see them as losses anymore but as investments.
The risks :
If you saw value in an asset which actually does not, you could loose all of your investment, so do your research seriously.
If you do your research but still are hesitant, or if down the line you forget why you started this, the fear could come back when you see all time lows and you could sell for a huge loss.
Basically, the risks are those that come with investing.
You also have the risks of day trading, which is completely logical as you are day trading or intraday trading.
The benefits:
If well executed, you will have no trades for a loss, only green !
It will be easier to accept a negative positions.
It brings you profit in the short term and brings you huge profits in the long term.
Since I "created' this strategy it has been working wonders for me so I wanted to share it.
If you like it, please get in contact with me, I always like to get new contacts who are traders.
If you have any questions please don't hesitate.
Thank you for reading,
Piers