HOW TO DEVELOP A WINNING STRATEGY ( AS A BEGINNER IN CRYPTO CURRENCIES AND FOREX MARKETS )

How to Develop a solid Trading strategy as a beginner in Crypto Currencies and Forex Trading Markets.

A solid trading strategy that is based on your risk tolerance, investment goals, and market conditions is best.

Good trading is not the absence of losses.

Good trading is the ability to keep your emotions under control.
Don’t quit.
Keep pushing .
It’s not a one day process but a matter of gaining experience over time.

OPINION ON SIGNALS

WHY WOULD ONE CHOOSE SIGNALS?

Do Beginners in Crypto Currencies and Forex markets understand the several stages a trade should pass through before it profits or looses?

I’ve never bought signals, and I would not dwell much on what package is given.
But the critical question is, do signals take into account all the stages of a trade?

Every trade has stages –

Analysis, Timing, Entry, Trade Management, and Exit.

While all stages are important, TRADE MANAGEMENT, stage 4, is crucial.

A lot has to be taking place both in mind and on the charts for it to work out.

Unfortunately, I doubt if signals provide this package.

They may give entry and exit signals, but they cannot manage the trade for you.

As a trader, it’s crucial to understand these stages and develop your strategy to navigate them effectively.

Don’t rely solely on signals; they may not guarantee profits in the long run.
Stop being annihilated by the market because you’re so anxious to make it up in one trade or strike a home run.

As a trader, slow and steady wins the game.

Fast and aggressive play will result in account blowouts and constant resetting.

Good 🖐

A winning trader focuses on the process, not the outcome.
Too many people get bullish at resistance and bearish at support.

That’s just how market psychology works.

Use this to your advantage.

Remove your emotions and trade objectively at each level.

Three market ingredients you must have.

1. Patience: trigger and hold and you will eventually make money overall.

2. Effective risk management;

big account small volumes;
this will help when the market hits a range or an unprecedented drawdown, you will not take your account to a margin call(ICU) or even worse burn it.

3. Consistent profits;

if you can follow no.1 & 2, then no.3 comes automatically.

That’s how we do it. That’s how a smart trader approaches the market.

Comparison is the thief of joy.

There will always be someone who made more money on a trade, an altcoin, flipping an NFT, etc.

None of that matters.

Focus on your game…. and your game alone

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