Topic: My trading stradegy - page 2. (Read 305 times)
Since you're a newbies in the community do everything possible to carry out your personal research before trading your coins in the market because many traders have lost a lot of money for altcoins investment. It is good to use short term strategy to earn little money from crypto trading but when you are about to increase your capital in crypto trading, I will advise you to apply long term holding before trading your altcoins which it will really help you to enjoy what others potential traders are enjoying in the market. It will be favourable if you can include Ethereum, because the coin don't take a long time before it will show green light to alert their customers that bullish season will soon take over the market for short term traders to smile.
Your strategy of looking for top gainers and then shorting them if they are up 5% is a bit risky, as it is possible that the coin could continue to pump.
It is also important to use stop-loss orders when trading crypto, as the market can be very volatile. This will help to limit your losses if the market moves against you.
I am not a financial advisor, so I cannot give you specific advice on how to trade crypto. However, I can provide you with some general tips:
Start with a small amount of money and gradually increase your trading size as you gain more experience.
Do your research and learn about the different technical analysis indicators.
Use stop-loss orders to limit your losses.
Be patient and don't try to trade every single day.
I hope this helps!
It is also important to use stop-loss orders when trading crypto, as the market can be very volatile. This will help to limit your losses if the market moves against you.
I am not a financial advisor, so I cannot give you specific advice on how to trade crypto. However, I can provide you with some general tips:
Start with a small amount of money and gradually increase your trading size as you gain more experience.
Do your research and learn about the different technical analysis indicators.
Use stop-loss orders to limit your losses.
Be patient and don't try to trade every single day.
I hope this helps!
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But be careful and keep an eye on the movement of Bitcoin because after all, if something happens to Bitcoin, the altcoins will also be affected. And until recently, it seemed like Bitcoin is down again and make many altcoins down too. You need to be careful because it seems the correction is coming again.
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Bitcoin is always the main watch even if we trade on Altcoin pairs. But be careful and keep an eye on the movement of Bitcoin because after all, if something happens to Bitcoin, the altcoins will also be affected. And until recently, it seemed like Bitcoin is down again and make many altcoins down too. You need to be careful because it seems the correction is coming again.
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Because after all Bitcoin is the main cause of market movements.
Looking at the Bitcoin dominance chart, if dominance drops then altcoins will rise and if bitcoin dominance increases there is no chance for Altcoins.
There are many strategies that can be applied depending on how each person's trading style is.
The use of strategies can also be combined with various trading tools.
I usually use Tradingview to analyze because there are complete trading tools available.
Just look at this Bitcoin cheat sheet table and you can determine what will happen with Altcoin.
I see your trading skills have improved and you really enjoy your futures trading. Today's market really allows someone to make a profit, but he must be able to do or find the right coin. This is where the difficult part is because of the many coins on Binance, he has to analyze them one by one. Maybe you are used to using Top Gainer so you can find coins that have potential.
But be careful and keep an eye on the movement of Bitcoin because after all, if something happens to Bitcoin, the altcoins will also be affected. And until recently, it seemed like Bitcoin is down again and make many altcoins down too. You need to be careful because it seems the correction is coming again.
But hopefully, this can make altcoins move upwards and provide profits while Bitcoin is still waiting for the next moment. And let's hope that the Bitcoin price doesn't fall back too deep this month.
But be careful and keep an eye on the movement of Bitcoin because after all, if something happens to Bitcoin, the altcoins will also be affected. And until recently, it seemed like Bitcoin is down again and make many altcoins down too. You need to be careful because it seems the correction is coming again.
But hopefully, this can make altcoins move upwards and provide profits while Bitcoin is still waiting for the next moment. And let's hope that the Bitcoin price doesn't fall back too deep this month.
If the trading is future trading mentioned by the OP,then the OP must do the practice of future trading before the live trading.Because future trading is risky one for the new traders,if they increase the leverage to high.The OP may loss the entire money he had invested in the future trade,he should practise the future trade with the demo account.Once he practice over a month,he will get huge knowledge for the future trade.Then he can start the future trade with the real money,the experience people can easy earning from the future trading.
I see your trading skills have improved and you really enjoy your futures trading. Today's market really allows someone to make a profit, but he must be able to do or find the right coin. This is where the difficult part is because of the many coins on Binance, he has to analyze them one by one. Maybe you are used to using Top Gainer so you can find coins that have potential.
But be careful and keep an eye on the movement of Bitcoin because after all, if something happens to Bitcoin, the altcoins will also be affected. And until recently, it seemed like Bitcoin is down again and make many altcoins down too. You need to be careful because it seems the correction is coming again.
But hopefully, this can make altcoins move upwards and provide profits while Bitcoin is still waiting for the next moment. And let's hope that the Bitcoin price doesn't fall back too deep this month.
But be careful and keep an eye on the movement of Bitcoin because after all, if something happens to Bitcoin, the altcoins will also be affected. And until recently, it seemed like Bitcoin is down again and make many altcoins down too. You need to be careful because it seems the correction is coming again.
But hopefully, this can make altcoins move upwards and provide profits while Bitcoin is still waiting for the next moment. And let's hope that the Bitcoin price doesn't fall back too deep this month.
looks like you are enjoying your trading. but from what you said it looks like you're just guessing. I don't mean to minimize what you said, but you shared your guess as if you were giving a signal. It doesn't matter whether people want to follow your trading method or not, because you mentioned you are a beginner, it is better for you to develop your trading strategy better. not only with your feelings and guesses based on the pump and dump of an asset. it's too risky to get caught.
I wish you success.
I wish you success.
Trading without analyzing the market is gambling. If you want to be profitable in trading, you must have a trading plan. Even though you have a trading plan doesn't mean you will immediately become profitable. You should back test your strategy and do some paper trades. If you are profitable with your trading plan, then you can try it on live with small funds. Live trading is different from paper trading because there will be an emotion involved which can affect your trades. That's how important to have a trading plan in trading, imagine, there's no strategy that works 100% how much more if we didn't analyze the market.
I think you are just trading imaginery correction with no clear analysis or chart to follow on it. The risk with such strategy is that you can easily be trapped. A pair that does 10% pump, how do you know how many percent short it could drop? You might expect a 15% drop in correction and it only retraced for 2% and start long again. You need a clear strategy and not a guess on retracement because there was a pump.
Today right now i been screening the market top gainers.
I see good opportunity for combo/usdt SHORT now good entry price now 0.5238$ sl i have 0.5322$ tp 0.5145$
Such movements in altcoin trading pairs and the correlation of their pairs with the dollar are random, and it is difficult to find a specific strategy to ensure that you achieve a profit in most of the deals that you open. I think the reason the combo is high is because China Cuts Stamp Duty Rates and you can find the news link https://thecryptobasic.com/2023/08/28/vet-cfx-combo-phb-poised-for-rally-as-china-cuts-stamp-duty-rates/I see good opportunity for combo/usdt SHORT now good entry price now 0.5238$ sl i have 0.5322$ tp 0.5145$
Therefore, such things require that you study currencies and news before you have indicators of an increase in the price, which is difficult due to the large number of cryptocurrencies.
Today right now i been screening the market top gainers.
I see good opportunity for combo/usdt SHORT now good entry price now 0.5238$ sl i have 0.5322$ tp 0.5145$
I see good opportunity for combo/usdt SHORT now good entry price now 0.5238$ sl i have 0.5322$ tp 0.5145$
Here is my suggestion,
Why don't you create a thread for your trades, fund your account with a few dollars, and show us how you are going to make huge gains using this strategy?
It's easier making calls when no emotional element is involved. That why people make lots of successful trades using demo accounts but on real live trading, things are quite different.
Great, Binance Futures, how many times were you killed /liquidated by Binance?
Trading is risky enough to avoid but Margin and especially Futures trading are more risky trading types. You can luckily to get profit with Margin and Futures trading and think you are genius but in a long run, one or few liquidations from Binance will take most of your capital away.
I experienced with Spot, Margin and Futures trading types and my advice for newbies, don't touch Margin and Futures Trading.
Trading is risky enough to avoid but Margin and especially Futures trading are more risky trading types. You can luckily to get profit with Margin and Futures trading and think you are genius but in a long run, one or few liquidations from Binance will take most of your capital away.
I experienced with Spot, Margin and Futures trading types and my advice for newbies, don't touch Margin and Futures Trading.
Today right now i been screening the market top gainers.
I see good opportunity for combo/usdt SHORT now good entry price now 0.5238$ sl i have 0.5322$ tp 0.5145$
It's like a catching falling knife here, you are basing on the percentage of the down/up.
I want to ask "How can you say that it's over-bought/sold?" Are you using any momentum indicator like RSI for it? Because as what you said, you are basing on the percentage of price action.
I want to ask "How can you say that it's over-bought/sold?" Are you using any momentum indicator like RSI for it? Because as what you said, you are basing on the percentage of price action.
Yes it's like catching falling knife.
Now I short cyber /usdt good entry price 7.32 my sl 7.70 i see it's safe to entry and don't see it can go any higher i don't see any long wicks either so it's safe and Im waiting nice profit.
first of all before I trade I will first look at the coins to see what they have then when I have chosen the coins I will trade I will first go from higher timeframe to lower timeframe so I can see where I will position and also to see first where is the liquidity and so that I know where I am going to enter and where I am going to exit.. and also with risk you must have a risk management and trading plan
This is your new trading strategy or this is still the old one?
Sometimes it makes sense for what goes up always comes down. If it continues to go up, you'll just have to be sorry for the funds getting liquidated.
The old system simply didn't work since you already said you don't have enough funds anymore. The losses are always going to teach you lessons and you gain experience over time with the losses you made.
I can say that your strategy was successful until the year 2021. There was no heavy activity of bots that accelerate the upward curve and change the direction slightly. In the past, the strength of supply and demand moved the price strongly in a certain direction, and it is difficult to reverse that direction within a period of 10 minutes to 30 minutes. there was an opportunity to catch up with some currencies that suddenly rise and achieve increases of 2% to 6% from them, but the matter is completely different now and the upward trend can turn rapidly, which makes the option to sell when the price rises is done by market order, which often means selling at a loss or at a profit little.
This strategy is not always effective in the psychoanalytic levels of Bitcoin but it is difficult to predict the next direction.
This strategy is not always effective in the psychoanalytic levels of Bitcoin but it is difficult to predict the next direction.
It's like a catching falling knife here, you are basing on the percentage of the down/up.
I want to ask "How can you say that it's over-bought/sold?" Are you using any momentum indicator like RSI for it? Because as what you said, you are basing on the percentage of price action.
I want to ask "How can you say that it's over-bought/sold?" Are you using any momentum indicator like RSI for it? Because as what you said, you are basing on the percentage of price action.
Great, Binance Futures, how many times were you killed /liquidated by Binance?
Trading is risky enough to avoid but Margin and especially Futures trading are more risky trading types. You can luckily to get profit with Margin and Futures trading and think you are genius but in a long run, one or few liquidations from Binance will take most of your capital away.
I experienced with Spot, Margin and Futures trading types and my advice for newbies, don't touch Margin and Futures Trading.
Trading is risky enough to avoid but Margin and especially Futures trading are more risky trading types. You can luckily to get profit with Margin and Futures trading and think you are genius but in a long run, one or few liquidations from Binance will take most of your capital away.
I experienced with Spot, Margin and Futures trading types and my advice for newbies, don't touch Margin and Futures Trading.
Ain't good at trading and I didn't try this strategy you've said, so my advice is don't forget to include in your plan the stop-loss which is very helpful when you experience a massive loss. You should have this good technical analysis based on your stop-loss levels on key support or resistance levels, trend lines, or other technical indicators that are relevant to your trading strategy.
My advice is to put an amount that you can afford to lose.
If i trade but now due to financial problems i can't trade so much and don't have enough funds..
IMO, it's important to prioritize your financial well-being over trading, especially if you're facing financial problems and don't have enough funds.My advice is to put an amount that you can afford to lose.
Shouldn't you be having enough funds by now since the strategy seem to be working for you according to your narrative?
Shorting low cap altcoins is pretty hard because there are certain one minute wicks that form (pump and dump in one minute) and they can even liquidate your position or activate your SL with ease.
It's not as easy as you think
Shorting low cap altcoins is pretty hard because there are certain one minute wicks that form (pump and dump in one minute) and they can even liquidate your position or activate your SL with ease.
It's not as easy as you think
Im so newbie here but this is my way
Mostly binance futures If i trade but now due to financial problems i can't trade so much and don't have enough funds...untfortunately
I look for top gainers sometimes they go even higher so if coin is up 20% it might trap If i see still coin can move up i move on to short altcoins i look for bigger Marketcap altcoins If they are up 5% then i Open short and If there is no news or any reasons for further pump i Open short.
Right now i see etc/usdt extremly over-bought and fake-out so i did Open short it now. Price 17.065$ on binance i think good entry for short with this price now.
Enjoy
hope you like it let me know ur toughts aswell , thnx
I think your trading method in the futures market is too risky. But as long as you can still have a good strategy. And have risk management in trading so you will stay safe. Each sets a profit target and sets a stop loss target. So that when the market changes or suddenly, you don't worry that you will experience a lot of losses because we have set a stop loss. For trading on pumped coins sometimes it brings big profits. As long as we can have the courage to enter. The method used in this type is fast trading (Scalping).Mostly binance futures If i trade but now due to financial problems i can't trade so much and don't have enough funds...untfortunately
I look for top gainers sometimes they go even higher so if coin is up 20% it might trap If i see still coin can move up i move on to short altcoins i look for bigger Marketcap altcoins If they are up 5% then i Open short and If there is no news or any reasons for further pump i Open short.
Right now i see etc/usdt extremly over-bought and fake-out so i did Open short it now. Price 17.065$ on binance i think good entry for short with this price now.
Enjoy
hope you like it let me know ur toughts aswell , thnx I personally do not like to take risks that are too high. I prefer to patiently monitor the market and jump in when it's worth entering. Well I am also a day trader. And scalping has also become my daily routine. On coins that do not have any news and events, technical analysis is needed and the level of accuracy is quite high. But for coins that have events and news, we only have to follow market trends and estimate the response or market sentiment to the events and news that appear. So that sentimental analysis, fundamentals are prioritized and then make technical analysis before taking positions. and to determine to what extent the target increase and take profits.
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