Topic: How are you trading more efficiently?. (Read 807 times)

I think those who make such comparison are those who've failed at trading.

I don't even see those who use such leverage as risk takers because what they're doing is unnecessary exposure that will eventually blow their accounts. Trading that way shows the person hasn't learnt a thing about Money Management. These one who trade that way are gamblers and not traders, it doesn't matter whether they make profit from such trades or not. Just give it some time and it will dawn on them that they never got it right trading that way.

Trading is not similar to gambling, even if it's futures trading; however, some people do it like gambling. I can't imagine choosing 100x leverage for any trader, no matter how much I trust the cryptocurrency I'm trading, because with 100x leverage, I will have a very close liquidation price, which can get hit pretty easily unless I have a stop-loss place but even with a stop-loss, I will lose a good amount from my capital since it is 100x.

Those who understand everything won't take such high risks because you can't treat trading like gambling. If you want to gamble, just deposit the money in a casino, go to the dice game, place your bet with everything you have deposited, choose 5x or something as the multiplier, and roll. If you are lucky, you will get 5x of your capital in a second, and if you are not, it will be over in a second as well.

News that can affect the movement of coin prices in the market is news that is quite important for every trader and also every investor to know because the news is usually big news so it should not be ignored. Moreover, from the existence of the news factor, everyone can also prepare several other factors that they must have at the same time because it is also like a basic foundation in making plans when there is certain news that can change market conditions from bad to good or vice versa. So basic principles like that are the main thing besides not being too negligent in knowing information that can help us in trading.

Maybe news is one of the factors in making decisions in trading but don't just rely on news because there are still many other factors that we must learn especially fundamentals, discipline, patience, risk management, consistency, learning from mistakes and emotional neutrality. If this has become a principle, then this will be your guide. Trading without principles is like sailing without direction. So build your principles now, then it will automatically create efficient trading.

Of course, to find the most efficient and not have to monitor prices continuously and not need to look for information in detail, investing in bitcoin is a wise choice. In addition, by using the dca method and investing for the long term, of course indirectly you are building assets for the future efficiently because bitcoin will become rare in the future, this can be seen from the development of the community and many countries want to adopt bitcoin as a state reserve.

Looking for way to make the trading easier it will be very difficult for now, because those that trading now they don’t seek for a knowledge to gain the proper experience about the trading and the trading is all about the having the experience and also navigate the risks that involved in the trading.

There’s a lot of people’s traders that who have be a long time in the trading there also trying to make it easier and they find that it difficult, why is because the a trading is not like other things that can make it very easier right now that they can not be possible.

Something else, of course!

What I mean is my reliance on and trust in trading bots can only be the ones working with my own trading strategies. For this, only the bot coded by my trading strategy (my idea written inside the code) is the only one I can trust. I've seen how bots mess accounts up, this will still happen if it started well, with time, all the profits would be erased and the account would return to Red.

The best bots I've seen are the ones with tiny profits for years. They are even difficult to find. I would have coded my strategies into bots if I had the coding skills. I am too lazy to learn since I can do my thing manually.

News can help if our decisions are in line with the market direction, but this is still like predicting because good news does not guarantee that the market will be bullish and vice versa, so don't rely too much on new news.

I think the most efficient way to trade is to be a long-term holder for Bitcoin, because you don't need to always watch the market and do DCA is a good method for long-term holders.

Using 100 percent is not advisable at all because the risk is there and most of this decision are driving by greed and you can not make money all at once so it is better to cut down greed so as to enjoy trading because using 50% is also risky why not use a reasonable percentage and even if trading have similarities with gambling and you have to seriously consider the risk behind there action.

And no matter how legit the signals you get I don think its worth to much risk taking and there is a lot of risk there so it will be better to just take minimal risk and build on the little you trade with because that's like one of the most important thing that people need to know. Risk is good but when you are taking it should not be a deliberate decision because the cost of that Decision won't be funny.

A common mistake many people, specifically newbies, make when they decide to get into trading is that they think they can gain efficiency by watching another person trade and then follow the same steps he is doing; this is a very wrong approach when it comes to such volatile markets such as the cryptocurrency market. The market doesn't stay the same for long; it even changes within minutes; the movements, positions, and everything changes every now and then.

So, if you are watching someone trade online and follow what they do, you are playing with the market without any knowledge about it, which isn't right, and the market will certainly change directions and positions and its pace of movement will change, which will become the reason for your failure as a trader and then you curse the market and leave it in rage.

The answer is very easy.

-I do not sell, I HODL. At least until I want to take a profit.
-I do not leverage, having a liquidation point is just plain dumb.

If you want the most efficient way, then bots are probably the most efficient way. I mean I do not suggest them because I prefer to trade myself, but if you are using a trading bot and making money on top of it? That has to be the most efficient way possible. Look at the situation at hand, we are talking about a situation where you do basically nothing but to set it up, and if it goes great then you will not have to do anything else, you could just let it be and you are going to make a profit out of it.

It's easily the best way to make a trading profit, it's just that many people I know used bots during both bull and bear periods, and obviously during bull periods it is a great way to make money, the best way even, but it is by far the most money losing thing to do when there is a bear market.

I have had a quired wild ride when it comes to venturing into different mode of trading be it not trading, copy trading or embedding it with multiple indicators in tradingview but trust me the best one would be creating your own strategy as you are just a product of other's business as long as you buy their signals or copy trade via profit sharing or paying premium for bot trade and one must understand that maximum number of such stuffs fail else every other crypto trader would be millionaire or even billionaire. I have tried it all and learnt from my mistake and I am back to basics wherein I create my own strategy looking at the market conditions. I have categorised my trading into smaller but frequent profit making model and long term one as well. Learn some python coding and create your own strategy and automate it.

What do you mean by "one coded", Do you mean that one bot should know all of your strategies, or something else?

If the indicators by LuxAlgo on TradingView are indeed helping you to stay in profit, why then look for additional strategies? This could confuse you and may even lead to style drift. Try to be contented, after all, profit is the goal, and not many indicators/strategies.

I'm an experienced trader of many years, so copy trading is out of it for me. However, I would have loved to trade with bots, but it must be the one coded with my strategies and not all those junkies that filled the internet space.

Thats why to those people who are that well informed and been updated in social media and some crypto related sites on which these news do first come out then there's always that high probability that these fellas would be that making out that very huge profit on the moment or time that a certain meme coin will be that hyped into its peak. There will be tons of people that would really be making money specially into those who had entered up too early and this is the advantage of taking up some risks into those earliest time as possible but of course it does impose up that huge risks too on which at the time or moment that a coin is just a fake then expect that you had lost up your money on investing into it.

When you do make up some trading then fundamentals or news will really be that relevant or something that be that significant on which you can apply on it when it comes into the analysis you had made out earlier with technicals. You can be able to make out that having this kind of in line considerations in between TA and FA on which you will be able to find out at least on what are the situation that you are into.

You mightn't be an active trader that's depending on trading to make money, probably you're trading occasionally hence being efficient mightn't means that much to you but for traders that depends on trading as a source of income, it's good that they try always to be efficient so they can be victorious in the long term. There are ways to make your trading more efficient like planning the hours in which you get to trade and not trading anytime that you feel like trading.

I plan my trading hours and I don't trade for that long because I have notice that when I stay longer in the market, I begin to get some of my decision wrong which might be caused by being tired. Having a good coordinations as a trader helps you and you'll also avoid some potential losses that you would had gotten when you're not coordinated properly.

Aiming to be an efficient trader requires hard work and persistency to keep learning and going. So it's not established in an instant, but there's always a long term process on that. I think for me, being efficient does not matter at all. Knowing I'm trading in profits, that thought already satisfies me. It's just a matter of good mindset and positivity.

We're starting to see that more memecoins coming into this market. To be honest, I don't like seeing more them come because with many stories that I am seeing, it's all about people losing more of their money because they have rode the hype from these memes.

It's true that the hype has begun to start to ran out. But this could be just the start of it and there's got to be more to it, the volume is still coming and probably the huge holders or those that have received the 'premined' from the devs or the devs themselves have already sold a huge chunk.

He who owns the information owns the world and this is the basis. In the case of these meme tokens, whoever heard the news first earned more than those who came later. Yesterday, many media outlets wrote about this and it attracted new traders, the news item turned out to be very good and this is provided that there was no advertising or loud announcements.
And now that the hype has begun to decline, traders will look for any news item to push the price up.

Checking the news may work for some situations. But don't misunderstand that the situation with meme tokens like Trump will also work for other meme tokens. Obviously, after this there will be several similar meme tokens that will be launched, we'll see.
Checking and following the news sometimes gives us a trap. We have to be very careful with newly launched tokens. There are stronger assets in the market even though the movement will not be good enough and give little profit, such trading will be less risky.

Do you really understand how risky 100x leverage is? 1% dump or pump of the price is enough to either liquidate you or double your capital. I believe that the 1% dump of Bitcoin's price wasn't because of the bearish news, such a small price change always happens without a reason. 100x leverage alone is one of the riskiest things in trading but a short position on futures is another level of risk. Never open a short position on futures because exchanges often manipulate the futures market to liquidate their users. Exchanges provide liquidity, that's why you are able to trade with 100x leverage but in order for exchanges to profit, they manually manipulate the market and liquidate those who trade with leverage. I wouldn't even risk playing on futures with 2x leverage with a short position.

Market uncertainty is the biggest reason why a trader must always be active and serious in learning, and that is what is meant by skill-based activities, meaning that you will only be able to make a profit if, for example, you have knowledge and skills, in the sense that when your skills and knowledge increase, the possibility of getting consistent profits will be more possible for you, so it can be said that developing better in trading depends on how hard you try to continue learning and also depends on how patient you are in going through the process. I'm sure most people will agree that the hardest part of trading is controlling yourself and your emotions, and in most cases it is proven that this is what often leads a trader to a large amount of loss, meaning that besides having to learn many things that can increase your chances of profit, you also have to learn various things that are useful for minimizing the possibility of excessive losses.

Fundamental analysis in most cases just provides volatility for technical analysis to play out faster however keeping in touch with fundamentals can help provide clarity to the direction of price, because confluence will always be an advantage to a trader

Fundamentals and checking the news are sometimes effective. Like yesterday, there was the announcement of Trump of his official memecoin. If someone who's too active checking all these trends and news, they have already rode the news and then bought that coin. And if until now holding it, there's already a profit within it. That's how people trade nowadays aside from technical analysis and whichever works effectively, you got to choose them for maximum profiting.

Trading has never been easy even to those who have been trading in years, the risk of losing and the fear of not making any significant profits is still there. But we can’t stay this way forever. We need to elevate, we need to see more positive outcomes from trading, and we can only make this happen if we decide to dive deeply on trading.

News are important, but we should also adapt psychological discipline as this is very crucial when trading. Making money is not all about skills and strategies, but let’s keep our emotions in check and maximize our patience through gaining more understanding in the trading market.

Everyone need to strict with his own method or strategy because this works conditions and atmosphere never been same for all we have things which surely create problems for someone bug same are profitable for someone else just do one favour for yourself do some preparation before entering into trading.

Check all if trading is profitable then jumps in but if you or your strategy is not working then keep yourself on side and wait for the right time this is the best thing entering without any solid analysis and just going without any preparation always hurt or can give big lost as well. No doubt going for 2 or 3 trades ok but if you are not comfortable then you can take more time or also can go for just 1 trade for 1 day as well because after having experience and better technique you can increase your trade number after some time for better results.

It is very high and has a big risk too. But on the other hand I don't see him trading like a casino, because if it is based on analysis and has considered what the risk is like or knows what the risk is like, I think it is legitimate because he himself made the decision and of course must be able to be responsible for the decision he has made. However, this also cannot be imitated by many people, especially if they are beginners, because such a risk is a very big risk and must also be with a very big mentality. In my opinion, this can only be done by people who already have a very strong mentality.

After I saw that you were using x100 leverage, all other information from you is no longer perceived, because you treat trading like a casino. And even if you managed to make a profit this time, it won't always be like this and you will eventually lose your deposit.

Seen a lot of people on YouTube who do some kind of bots that actually work, allowing them to search related posts on Twitter or something like that being able to be updated about the news, something like if Elon Musk tweet something that could affect the market, the bot site could easily detect if on Twitter, also if it doesnt work they use google lens search as well, plus use some kind of discord bot allowing them to buy and sell his trade in a split second, both of the bots I think are premium one or paid one, I've watched the guy do the trading live with his friends allowing him to bag thousands of dollars in the market.

I've stopped the future trade because I didn't have a lot of time to do some research and trade, Still, I think the best way to do it is to do some research on the project, invest in it, hold your token, and sell it at a target price. Done it on some of the top 100 tokens in the market, and make a huge profit out of it, In my experience as long as you can hold the token for years it's a guaranteed profit every time, as long as you invested on a token that has potential and utility.

Just to make it clear OP, being an efficient trader does not guarantee sure profitability as there are a lot of efficient traders who are still experiencing mistakes and gradual losses. But for some reasons, if you mean efficiency in decision making and risk management, hence it would definitely boost long term profitability.

Efficient or not, as long as you trade with caution, trading profits will be achieved. But trading isn’t all about profits, that’s why we should also prepare for some mistakes and losses since we are trading in an unpredictable market.

Those who have bought more of the best assets such as Bitcoin are indeed better off holding on than selling them right away, but for those who like trading will continue to do so in conditions like now even though what is being traded is not an asset like Bitcoin. Because trading can always be suitable for many other crypto assets so that someone can still keep Bitcoin but still continue to do their trading work to seek profit through other assets because now there are also many altcoins that are experiencing price spikes in the market.

Adapting to all conditions, regarding the news I myself see it as additional information, good or bad, as information retrieval in terms of decision making, but the percentage is very small that I am influenced. My own analysis is what I use naturally, which is born based on my own trading experience.

Today the market seems to have started to move and has penetrated more than 100K and we can conclude that although gradually the number 120K will be getting closer in front of our eyes and holding is the best decision at this time for more efficiently

News of course do impact the price of bitcoin, I never deny that, and I do support that as a way to take a look at the market, but trading based on just that doesn't make sense because first of all not all news impacts the price so you wouldn't know which one will and which one won't, and secondly like you said there could be fake news out there and you would not know which one is fake and which one is not until it comes out. All of which means that we should be more careful and the results will not be good if we just stuck to it. Since this isn't a good way, the best way is still go with technical.

I don't have that much experience in trading compared to you with the use of those tools that you've mentioned. I don't even get into the news for my trades so fundamentals do really help. I will never try to get into that leverage with so much money. It's a true gamble.

Exactly.
I am saying that I am not a good trader as OP described himself. If he's using indicators and he knows how to use it and makes profit from it, there's really no problem at all. As long as he makes money from it, why care right?

Trading on news has always been a good way but sometimes we buy the wrong dip or wrong pump (sell) I have experienced this recentlyas I did 3 buyings and I always thought the first dump was the last dump and then another came and then another camp and the dump on 10th of Jan (correct me if I am wrong with the date) was 4th dump I did not bought anything hehe as had no funds.

We can never know if we are buying the dump or pump but we must keep one thing in mind that newbies should avoid future trading because on fundamental analysis future trading can make some good profit but it is not like every news is going to make you money so be careful.

How about learning how to do TA and going from there. Indicators are only good if you know how to use them.

I still use manual methods where I analyze the market situation and if I see I can enter to the market, I will trade but if not, I will wait for a while. I am trying to force myself to trade because that can makes me lose and if that is happen, I can lose control of my emotion.

I don't mind to trade two or three times in a day but that can gives me profit. But if I can not trade for that day, I will not trying to trade. I prefer to wait for the next day especially when the market is unpredicted.

When dealing up with trading then it would really be that an endless trial and error on which you will really be that needing up to adjust accordingly whether you would really be needing up some additional when it comes to analysis or any strategies that you would really be needing to put up. It will really be just that depending on a certain individual because not all will really be that confident into their trading styles and on how the way they do really handle up themselves. This is why at the time or moment that they will be facing up some struggles then there are those who are really that easily gives up and there are ones who do really that sustain up and this will be that depending into a certain individual.

Trading efficiently is something that you will be needing up to target or achieve into but of course it wont really be that so easy that you can be able to obtain. There are those times or moments that you will be needing up to quit because you dont understand on whats happening. Results or outcome will be the basis on how good you are when it comes into your trading. Everyone starts on being a newbie on which means that we are really that normally be able to obtain or achieve. When dealing up with trading then it all matters on how you do make out decisions and outcomes and on results will be that totally different to each other. So it will really be on situational basis.

You may use various branded indicators, but in my experience trading on the crypto market, this method is not efficient in generating real profits for me, My understanding is that the best and most efficient strategy is what you do with experience, because theory and practice are very contradictory.

Trading in the crypto market requires real knowledge and knowledge to carry out activities in the market, where changes in the price of the crypto assets we trade can change in a matter of seconds, so the efficient way you need to handle it depends on the type of crypto you are trading.

Trading isn’t about how many trading strategies you’ve learned or being exposed to, but it’s all about how do you trade with such an unpredictable market. Remember that it only takes one or two strategies to make successful trades, the rest are just nothing but of less value. However, being an efficient trader is everyone’s goal, but we all know it won’t be happening real quick, but it may take even years of practice before becoming an efficient one.

Bots are quite tough decision to go with, there are a lot of people who made mistakes using bots and lost a lot of money.

Remember, those are just software, machines, they are not having any emotions or thoughts, you tell it to do something and it does it, it never goes "this feels wrong" and stops, they just keep doing whatever they do, and because of that reason I keep believing that people should try to avoid trading with bots, usually the results aren't always that good and it just does what you tell it to do and you could always tell it to do wrong things, you believe it is the good way of trading but it will end up being bad and it will continue to trade like that and make you lose a lot of money.

Do you mean you've been doing following up the news strategy to getting your profits? That is pretty nice because it works best for you I think. But what I know is that, it doesn't go as planned all the time, most times news strategy fail especially when it's a fake information from wrong source also. You are lucky enough if it always work for you.

For copy trading, I don't usually trust the traders to be copying from, I rather use my instinct to follow up my predictions than following up someone I don't know either, but if you find it working for you, then you stick to it and be sure to select the best expert trader to follow and also be sure to use what you can afford to loose.

Basically, you do not have to be "efficient" as long as you are profitable. Most people in the world, famous people, didn't become famous until very late in age, and I would rather arrive where I want to arrive, then be quick and not reach anywhere.

So at the end of the day, we aren't going to be doing anything more, we just need to focus on how to do whatever we can do, and there isn't really anything I can do to make it more efficient, but quick and short and failed isn't what I want, so slow and inefficient and profitable is a lot better. This is how we improve, then you can try to be more efficient if you want later on, try to optimize everything, IF you want, there isn't anything you can do to make it look different than just profits and losses, nothing else matters at all.

Being efficient means achieving maximum productivity with less wasted effort, hence the only way to be efficient in trading is to accept your failures and losses and learn from them. Trading is a learning process, the more you expose yourself into trading and gains valuable experiences, the bigger chances of becoming an inclined and professional trader. There’s no efficient trader that happens in an instant, everything should start from the scratch until you gain mastery and expertise everytime you decide to trade.

You can somehow explore many strategies in trading, OP, but there is one thing I was sure of: there is no easy trading in real life. Sad to say, but finding the easiest way to earn from trading can't find instead that only lose your direction and focus. It is better to master 1-2 strategies rather than having a lot of them to help us not be confused. And most of all, we must accept the fact that trading is not an easy job. Losing and winning is part of the journey, so be it.

Learning how to become a good trader is something that takes time, and while I am sure that there are many efficient ways than mine, I try to just stick with my plan. I trade only 1-2 hours a day, and only on weekdays, on weekends it's my vacation time and I avoid trading as well. I have a set amount of strategy, indicators that I use, and use tradingview for most of the time, and whenever something looks like it's going to go up, I buy, and if nothing looks like it will go up, then I do not trade at all.

There is no need to rush into it, you are not going to make extra money out of it neither, you need to be careful with it. So, I believe that we are going to profit whenever we find any time, so it's the most important part of the deal without a doubt.

There are thing people don't usually learn while (or) when trading, they so much focused on the profits and the possibilities to explore for effective trading, of course is good to explore additional modelaties for effectives trading but, they had refused to take note of their past mistakes  within their trading histories and how they have performed so far while trading. If they would learn to spot out those errors while trading the better for them and it would give them an edge for corrections and learning additional methods to win the market.

Fundamental analysis is good, but it is not always clear.

There are some news events that you can be sure of the effect it will have on the market while there are some other news events that you will be uncertain if it will make the market bullish or bearish this is why technical analysis is always needed to support fundamental analysis to increase the efficiency and chance of winning a trade.

Profit is profit and this is should be having that main priority into your mind on now matter how small it is as long it do shows green then it will really be that counted. Therefore, you should really be that knowing on what are your priorities and on what are the things that you will be that trying out to achieve. When it comes to trading then we do really know that on the moment that you will be having that tons of adjustments because on the moment or time that you had that become that too hasty with your decisions or simply being careless then it might be understandable if you are new but if you are already that old and having no learnings and adjustments into your trading then there's something wrong with you.

After all the hours that you've been dealing up with trading then it will really be that impossible that you cant be able to distinguish on which are the things that be wrong or something not ideal on doing so. Experience will really be the key because lack of experience will be leading out to mistakes and errors but as you do go ahead then you will be that eventually learn up all things along the way. Just dont make yourself on a rushed way on dealing up with things because this will really be that having that very huge problem and might ending up for you to have that huge problem and ending up on surrendering or stopping your trading career just because you cant be able to sustain or survive up.

Yes it may be in general form or knowledge but lets agree that it really affects the market. Like the recent win of Donald Trump, during that time of the election when Donald Trump almost secure the office the bitcoin market pump hard since Trump is bullish on it. So we didnt need chart analysis there as major markets agree to its sentiment.

I think when it comes to Bitcoin, fundamentals are big in this game and can be profitable if you know how to interpret them..and the fact that we have Trump in the driving seat..this means more of those tweets means easier way to know if markets get bullish or we short the market.

But when we also talk of efficient trading,  for me less is more...you know how everyone says over trading can lead to losing more this is why I have settled for less is more and it's kind on one's mentality.

Your decision based on that fundamental was a right one. It's like getting heads-up of a token unlock and not dumping one's hodling before the time, that will be a most regrettable decision. Investors are more likely to take profit at news of a token unlock than not, unless it's a very small quantity being unlocked. I believe that was what happened with the DOJ news. I missed that news as I wasn't trading that period, I would've done the same by shorting it though not on that high leverage of yours. I only got to know of it when I noticed how quickly Bitcoin had nosedived and decided to surf online to see if there was any kind of FUD. Behold there was no FUD, it was that news and it dropped Bitcoin real hard. It simply shows that no matter what we do as traders, we shouldn't ignore news.

I have not used a bot to trade before, I don’t even know how it works so I don’t even see it as my thing. How to maximize my potential win in trading this year it to focus more on market on the higher time frame, they give more probable wins but just requires you to be patient enough for the market to reach your point of interest. I have noticed that the most profitable traders encountering less risk in their trades are swing traders, so focusing more on swing trading will be my thing from now.

For me I learned a lot from my mistakes last year and I am trying to develop my trading by focusing on avoiding these mistakes as much as possible, the problem is that sometimes you know the mistakes but you get carried away by them because of fear or greed so one of the most important basics is to practice controlling your emotions.

I also tried spot grid trading and bots but in a simple way as an experiment, it was not completely successful so I intend to develop this experience more this year when I have the opportunity.

Buying at $60,000 and trading at $69,000, well, is not a huge profit, but at least we have earned some. Could this be a good idea? Not for greedy traders, but for me, this is indeed enough rather than losing an opportunity. Honestly, I have experienced before where I ignored the notif and just let it pass. But I'm regretting it because the price never recovered back to what I thought. 

In this volatile market, one way to earn from trading is to sell high as much as possible and never hold long with your coins. Avoid being too greedy, or else this will be a reason for missing a great opportunity.

Yes, the trading market is always volatile and full of uncertainty, but if you gain skills in trading and trade using the right strategy, the chances of success are very high. However, to trade using the right strategy, you first have to learn trading, trading is not an easy thing, learning trading completely, it requires a lot of time, patience, and hard work. Many experienced traders also face losses, so to be successful in trading, you have to learn trading first, and when a new trader first starts trading after learning trading, he may have to face a lot of losses at first, but at that time if he is not emotional, and sees his losses as a means of learning, and tries to learn better, then he will be able to succeed at some point.

I am not a pro trader and only use manual trade because I don't know how to use the bot. I feels it is better to analyze with our skill because we don't have to bother to set the command on the bot when the market change the direction. If I am sure that the market will go up or down, I will use bigger leverage but I also prevent when the market moves to the other direction by watch the market moves so I can act fast before it is too late.

I am trying to focus with my trade and although my profit is not bigger than others, I will keep trying to learn and trade. That can improve my skills in trade and I will have a chance to make more profit.

That's not very simple to do, easier said than done

My simple strategy I always tell people to try is to get a trading buddy. He tells you when he's making a big trade, you tell him when you're making a big trade. And both help each other stick to the plan.

I'm not sure if that is more efficient though, as OP is asking about efficiency. I would say in this regard, learn to use limit orders. And only use limit orders. You should log in to place them, not to watch trades.

Hey ruchiman thanks for this. You've got tips on how to efficiently keep the trading journal, I always see it as as dicey. I'll also check some YT contents for this..


Okay. Does Fed rate affect crypto?  That that's only for forex . The link you sent talked about is an opportunity for trading bot users.. tasks looks simple though, so when I'm free I'll check it out in details..tq

Good for you, and that must be the reason why the market dumped really hard a few days ago.
This is also one reason why we shouldn't ignore the news because while most are focusing on analyzing the market through technical analysis, let's not forget that the news can also have a huge impact on the market as well. Good for you that you took the risk, and got rewarded with it.

This is what I'm planning to do this year when it comes to trading:
1. Focusing on at most 2 trades per day or 3-5 trades per week.
2. Be more patient because patient is a key trait that every trader has.
3. Always put a stop-loss just in case things go south.

I believe we have different ways to be efficient in trading, and for me, this is what I'm doing this year. There are some that feel that they're more efficient when they make more trades (at least one a day). There are some who aren't putting stop-losses because they can look at the market constantly. There are some who are using multiple indicators, and so on, and so forth. We just need to find the perfect or the right one that works for us.

Hmm, Staying humble when training is something that people find most challenging. Focusing on the plan also requires discipline, so in my view, in any kind of market situation, your personality behavior should be the same. It can be achieved by practicing discipline, honest emotional control, following the plan, and acting like a robot. All these things are only dependent on how disciplined you are.

Trading could be somewhat hard due to its market uncertainty. However, if you stick to your trading plan, I think that will make your trades more efficient and effective. Stay informed with your decisions and keep emotions in check so that your trades will not make you stressful but will definitely increase your chance of success.

Absolutely agree with you! Fundamental analysis can be powerful in predicting market movements. Keeping an eye on news and events like fed rate decisions, interest rates, and other economic indicators can give you an edge in trading.
I've also found it helpful to combine fundamental analysis with technical analysis, using indicators like the ones from LuxAlgo to spot trends and patterns.
Do you have any favorite sources for staying up-to-date on market news and events? I'm always looking for new ways to stay informed!
https://www.bitget.com/events/intro/718808b51d785877a2339357c92c9162?color=newYear

News really has a huge impact on the market trend, but of course, we can't make it our only basis, as we still need other factors to further analyze and make final decisions. With all of these things, I can't say that trading is easy, and we can make a profit fast. Because without proper knowledge about this, we will surely not get anything other than losses. 

Indeed, exploring and trying new ways or strategies is the best thing we can do to improve. That is why trading is quite pressured and stressful especially if we are taking this seriously. 

Im not experienced trader but also considering the news or fundamental events that will affect the price such as fed rate, interest and any other potential event that might trigger a down low or fast bullish scenario. Sometimes it could be use as credible indicator than charts or some parameters.

Maybe try to compare and use historical info and some trading factor.

One simple strategy is to learn from mistakes, and you can learn from mistakes in trading this year by keeping a trading journal so that you could document errors that you made so that you do not repeat them. The more of your personal errors that you notice, take note of, and learn from, the better the trader you will become.

Another way to become more efficient is to never stop learning. Keep looking for resources to make your strategy better.

Hey guys, we’re all looking for ways to make trading easier, right? Whether it’s spotting setups more efficiently, venturing into bot trading, or getting news faster. For example, today I got a pop-up notification about the US DOJ approving the sale of 69,000 BTC. This prompted me to short the market because it’s bearish news, and I ended up making 2X from the position using 100x leverage. Yes, risky—I know. 

Over the past couple of months, I’ve been using the indicators by LuxAlgo on TradingView to make my trading easier. It helps me spot Couch, OB, and discount and premium zones faster. However, I’m also open to exploring other options, like spot grid trading, bots, or even copy trading. 

I know a lot of users here have experience, so I’d like to ask if you’ve used the methods I mentioned. Also, how are you planning to be more efficient with trading this year?.