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In summary have a daily drawdown.Β Once u fail to that level, quit the market for the day no matter how chart later look good in that same day don't come back till next day.
Avoid high leverage so that u don't need to set huge SL that cost u more than -100% loss in a trade. If u insist in using high leverage then u shouldn't use more than 1 or 2% assets to trade. So that u will hv access to even fail 5 trades in a day before reaching the draw down.
If u understand this explanation of daily drawdown and if u understand my daily explanation of use of leverage, u will become a good trader even if your technical analysis skill is not deep.
The problem is that u hv wasted all your capital before the market becomes good. You allow the bad market days to eat all your capital and now you don't have money to recover from the loss.
Now listen again!
Is very uncommon to have a bad market more than 3 days consecutively or let's even say 7 days.
And recall I do say, "any strategy u are using that can't survive 10 days consecutive bad market days is not a strategy. It's a bad trading strategy".
How do u address this?
If u hv a 100usd account and u are following my rules of never losing more than 10usd (10%) in a day, then it means u hardly lose all your money easily. Hope u understand that if u lose 10usd from ur 100usd the first day, the next day ur asset will be 90usd which means u can't lose more than 9usd on that 2nd day. If u continue to go like this, there will surely be some days within this period where u will make profits to cover your loss. Looking at this strategy keenly u will understand that u hardly lose all your assets easily.
The problem is that u hv wasted all your capital before the market becomes good. You allow the bad market days to eat all your capital and now you don't have money to recover from the loss.
Now listen again!
Is very uncommon to have a bad market more than 3 days consecutively or let's even say 7 days.
And recall I do say, "any strategy u are using that can't survive 10 days consecutive bad market days is not a strategy. It's a bad trading strategy".
How do u address this?
If u hv a 100usd account and u are following my rules of never losing more than 10usd (10%) in a day, then it means u hardly lose all your money easily. Hope u understand that if u lose 10usd from ur 100usd the first day, the next day ur asset will be 90usd which means u can't lose more than 9usd on that 2nd day. If u continue to go like this, there will surely be some days within this period where u will make profits to cover your loss. Looking at this strategy keenly u will understand that u hardly lose all your assets easily.
+1
Don't keep looking while others make money. The Internet money is not one persons father's property. It's for us all. Let's pack it all
Don't panic while trading.
Never close your trade manually in loss.
If u are panicking while trading, pls quickly close the trade and enter again by doing the right thing. Panic usually comes in when u go against trading rule.
Bad Rules like:
1. Using more than 5% assets to trade.
2. Using high leverage on 5% assets. Instead of high leverage on 1 or 2% assets maximum.
3. Running more than two trades at a time.
When u go against those rules u will surely be panicking immediately u see ur trades failing.....
This results to closing trades too early and not confident to wait and hit the SL.
Understand today that my SL are usually placed below a good support. This simply means that if a trade is failing there is a high chance that it may go very close to my SL value but won't hit the SL and reverse from there. If you already get panic and sold in loss early then u will be the one to regret.
There is no harm in following the rules.
The very day u realize that there is no shortcut to becoming rich in crypto that's the very day u set your foot on the path to success.
Anyone who flipped an account over night to make huge profit will never become a successful trader. Do u kn why? By so doing he has just learnt a wrong way of making money in crypto. But he will be deceived to think that he is smart and knowledgeable. This will lead him to keep using that method to trade and that's how he will lose the money back to the market and lose several capital he might try to gather later. Ask those who claim that they make huge money in trading by flipping small amount to huge amount the wrong way. They will tell u they lost more than half of the profit back to the market in less than a week and some in less than 24hrs , infact others in the very next trade they took.
Trade with rules and u will be glad u did.
When u see PnL like this, what's your thinking?
In your mind you thought I have made thousands of dollars or at least u will think I hv made 100usd right?
This your thinking is what mislead u to start pushing all your fund into trade and that's how u lost all your capital within a week.
Be wise and understand that big PnL like this doesn't mean big profits. Sometimes we just do this to have a fancy PNL for marketing.
I can never lie to u, my student.
This trade I use 1usd to run it. That's why I hv the confidence to use 500x. ππππππππ
The profit is just 10usd. Not the 100usd or 1000usd u are thinking.
Be wise, no come allow mentors mislead you oo.
Anyone trading with big fund will never use more than 20x.
Before u can see someone using 500x on 100usd or 1000usd capital, the person is already a profitable trader that have made such money that he hardly get broke again. Lol
Wise up
If u are trading high leverage use 1% asset so that u can confidently use even upto -300% SL.
You can't be trading with 5% assets and be setting SL to -300%, you will blown your acct QUICKLY.
I might be using high Leverage but honestly i am using it on 10usd (1%) of my 1000usd assets.
If u ask me really deep, i willΒ advise u not to use more than 25x leverage in your trade and u can even still set -200% and u hardly hit SL. Though with 25x leverage down to 1x leverage, ensure u enter your trade at the right entry and u don't hv to set SL more thanΒ -100%.
Its a slow and steady race.
HERE IS A RISKY TRADE FOR ANYONE WHO LIKE TO TAKE RISK LIKE ME.
LONG
PUMPFUN
50X
TP: 0.007 ( Swing...
SL: 0.0037 (RISKY....
