Topic: What I think every trader should do to stay in the green (Read 1592 times)

The higher the price of a coin, the more difficult it is to make a decision to buy it, because despite the fact that we see a bull market, a high price may indicate that it may change to a bear market. But in the event that the price of a coin begins to decline, it is better to sell it than to hold it for several years until the price recovers.

to be honest, we all don't know the right time to buy coins even though the conditions where the exchange is red, so when you buy coins it can still potentially collapse, so in my opinion when you buy a coin then you should be able to hold it until the price is green and sell it more expensive when you buy.

to be honest, we all don't know the right time to buy coins even though the conditions where the exchange is red, so when you buy coins it can still potentially collapse, so in my opinion when you buy a coin then you should be able to hold it until the price is green and sell it more expensive when you buy.

That's how trading works if you want to keep your investment in the positive side, buying low and wait till the value bounce
back and provide decent profits.

If you have that capabilities being patient then the chance of keeping yourself profitable is high, most of the time when collapse
happened more investors ride with it and lose their money.

At the green market, day trading is okay. But if we want to hold for a long time, then we should wait for dropping the price. Buy with low prices and sell with high prices is still a great strategy.

to be honest, we all don't know the right time to buy coins even though the conditions where the exchange is red, so when you buy coins it can still potentially collapse, so in my opinion when you buy a coin then you should be able to hold it until the price is green and sell it more expensive when you buy.

The problem with trading
When I started day trading crypto 3 years ago, I didn't have a plan with my trading. I just thought "if my win rate is high, I will make money gogogo".
I think everyone is missing a very important step if you just do some TA and start trading.

"You need a strategy"
Everyone told me from day 1 "You need a strategy" - but I simply didn't know how to make one. After losing 90% of my account balance, I took a break from trading for 6 months. Then I came back with a new mindset and reviewed some of my past trades.

I had no plan
When I look back at it, it was actually crazy how much I cowboyed my trading. Sometimes, I made +1%, sometimes -3%, sometimes +5%, sometimes +10%, sometimes -7%. There was no structure and I had no idea what results I could expect.

Since I had no forecast of my results, it was difficult to follow my rules. I simply lacked motivation to follow my rules. I think this is very common.

What worked for me
What made me go from a bad trader to a consistent profitable trader, was ACTUALLY using a strategy. Not only trading based on a vague strategy.

NOW - How the heck should I form a reliable strategy that works?
I opened up a Google Sheet and started writing formulas to estimate my earnings and losses from trading, based on different win rate, starting balance, leverage etc. It helped me a lot but it was so tedious to change the strategy in Google Sheets

I had enough. So I started to Google if there was a better way to do this. I found nothing. The only thing I found was a Forex Profit Calculator, but I wanted one for crypto.

Winrate.io was my game changer
So I made my own one. I created a website called winrate.io where you can test your current strategy or create a new strategy if your current one doesn't work.

This was a game changer for my own trading - Since I realized that my current strategy was not efficient at all and I was trading on an exchange with crazy fees. I sat down for 1-2 hours and tried different setups, and found out that I just had to make a few tweaks to make my current strategy work a lot better.

This is free and it will not ask for anything from you - not even your email. This is simply my Google Sheet in a more user friendly version that I personally use to improve my trading. My friends also use it regularly. So I wanted to share it with you as well. Hope thats OK!



I really think this step is very important but something that a lot of traders does not do - because it is difficult to do in Google Sheets or Excel.

Please let me know if you think this is helpful and if you have any questions.

All the best,
Joel

Stay in the green?? I think for me it doesn't matter if it is green or not.

For what matters to me is you know how to trade well properly, because this is what I did so far and in fairness it was really effective and gave me a nice shot on my pocket. So, everyone can copy the same thing what I did in doing trade activity

Every trader needs a plan and a reliable strategy. But the paradox is that there is no perfect strategy. And each trader is forced to slightly change his plan and strategy over time. Every trader has to adjust to the market. The market does not owe a trader anything. Therefore, the one who does not improve his strategy dies.

Traders should stay focused on their asset by monitoring the fluctuations, because this helps them become updated with every changes. Having gains to stay in green signals is very difficult to maintain while market sometimes saturate due to resistance. Long term holds will be effective for a meanwhile so trying this as an alternative strategy might be efficient as well.

~

We can't deny the fact that we cannot avoid red market sometimes because of some people who randomly sell their assets once they get some few profits or they thinking that their holdings will go to nothing once they keep on hodling. If the red market comes, it is good to stay away from it and go back again once it back to green.

Every trader needs a plan and a reliable strategy. But the paradox is that there is no perfect strategy. And each trader is forced to slightly change his plan and strategy over time. Every trader has to adjust to the market.

In fact, it is very difficult for us to always stay in the green, because the volatile crypto market definitely forces us to feel the effects of the red market.
And to be successful in trading, it's actually quite simple. Always make sure we carry out the strategy according to our plans, because if we are affected
by market conditions. Then we will find it difficult to make a profit, so if we have reached the sell target, immediately sell the coins that we have.
Don't delay it because the market continues to be bullish, because we will never know where the price peaks when bulls occur. Furthermore, always
learn from the mistakes we have made, correct these mistakes and do not repeat the same mistakes. That way we can become successful traders,
good luck to all of you.

Experience will teach us what strategies works best on us. Every trader have their own preference in making ways to earn and it's a continuous progress to keep in line on what to buy and what to sell. As long the trader is discipline enough to learn and to try, there should be no worries if we don't stay in green as long as we know that soon we know we can recover.

Every trader needs a plan and a reliable strategy. But the paradox is that there is no perfect strategy. And each trader is forced to slightly change his plan and strategy over time. Every trader has to adjust to the market. The market does not owe a trader anything. Therefore, the one who does not improve his strategy dies.

We can't deny the fact that we cannot avoid red market sometimes because of some people who randomly sell their assets once they get some few profits or they thinking that their holdings will go to nothing once they keep on hodling. If the red market comes, it is good to stay away from it and go back again once it back to green.