Why starting small is best for beginners in Crypto and Forex Trading Markets

Why starting small is best for beginners in Crypto and Forex Trading

STARTING SMALL…

Get a 100usd account.. risk 5usd per trade, you will need 20 trades to blow up your account.

*If u have a 40% win rate with a reward of 1:3.
For every 5usd you get a reward of 15usd…. With a 40% win rate which means 40% × 3 ( 3 is the reward per trade) you get 120% return .. your 60% loss has been gained with 60% profit..*

This means if you take a total of 10 trades and loose 6, you loose 6×5usd = 30usd and have 70usd as your current balance from your 100usd.. if you win 4 out of 10… It is 4×5 = 20usd then your 20usd times 3( your reward of 1:3 per trade)

*You have a total of 60usd*… Your initial 30usd loss + your 70usd , you get back your capital with a *30usd profit*

Note:- to trade like this , you must strictly know how to calculate your lotsize based on your setup.

Your risk per trade is constant (5usd) what changes may be the stoploss and this is what also gives changes to your lotsize…

Lotsize are not constant, your LOTSIZE will be determined by your *CONSTANT RISK* .. ..

THIS PART IS ONE OF THE HARDEST PART TO GASP COS IT INVOLVES SEVERAL MATHEMATICS.

*YOU MUST MAKE SURE THE LOTSIZE YOU SET PER TRADE IS EQUIVALENT TO 5USD LOSS ONCE PRICE HITS YOUR STOPLOSS*

*If you have a 1000usd capital, you can decide to risk 20usd per trade… It will take upto 50 trades to blow up ur account.*

*If you have 500usd Capital, you can decide to risk 10usd per trade… It will take UpTo 50 trades to blow up your account*

The Possibilities in the market are endless *7% weekly with a 10usd risk is over 70usd*
*7% weekly with a 5usd risk is over 45usd*

All you need to do is have a working and proven strategy of 1:3 with a winrate of 40%.

*Filter out pairs and choose pairs that trend and gives you set-up 60% of the time.*

*When it comes to TRADING SETUP, not every asset class is your friend, most pairs are stingy with YOUR SETUP, IT IS LEFT UP TO YOU TO DISCOVER THEM AND CHOOSE PAIRS THAT PRESENTS YOUR SET-UP CONSTANTLY WITH A LOW RISK HIGH REWARD…*

Let me use my self for an example… Based on my trading approach.

*I don’t trade *NZD PAIRS* cos of the spread.

I don’t trade *JPY pairs* cos they hardly pull back or retrace…

*Usdcad and eurchf * because of the nature of the pair movements, generally chf also has a spread widening asside this means I have several other factors and reasons why I don’t trade most pairs.

All this still falls in line to *PAIR SELECTION BASED ON YOUR TRADING SET-UP AND APPROACH*

https://one.exness-track.com/a/c_7hfrg0krwc

The only profitable trading strategy is to know the direction/trend of the market and to avoid trading against the trend

Most importantly patience is the key, don’t chase a trend wait for pullbacks and place trades at the end of a pullback.

It’s about time we revolutionize trading in a professional civilized manner where we only talk charts and not lifestyle showbiz.

Things You Must Bare In Mind..

♥Never add more trades while you have loosing trades…

♥Never be greedy once you’ve reached your daily limit…

♥Never trade when the market opens or setting pending orders because gaps can kill your account…

♥Never be emotional…

♥Always Apply Risk Management And Have A Trading Plan…

♥Don’t Ever Trade What You Think But Trade What You See…

♥Never Enter A Signal From Someone Unless You’ve Also Analyse That Setup As Well…

♥Never panick When Taking A Trade…

♥Don’t Open Trade Based On Setup And Close It Based On Emotions Rather Let It Hit Tp…

♥Never Set Sl Too Close Because Market Makers Can Hunt It First Then Continue With Your Direction…

♥Never Rely Much On Indicators But Rather Apply Price Action…

♥Don’t Open Trades While The Market Is About To Be Closed But Stop Trading On Friday By 17:00pm..

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The elephant in the room:

RISK MANAGEMENT.

Contrary to popular belief, most people with over a year’s experience in FX are excellent traders.

If you print your statements, you will likely realize you have won 70% of your trades and lost money through only 30% of your positions.

So what kills the forex or crypto trader’s dream?

Poor risk management!

Traders don’t want to close losing trades until they are stopped out.
The emotional roller coaster of closing a losing position is a battle few traders adequately master until they automate their strategy.

𝐓𝐡𝐞 𝐛𝐞𝐬𝐭 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐟𝐨𝐫 𝐁𝐞𝐠𝐢𝐧𝐧𝐞𝐫𝐬 & 𝐄𝐱𝐩𝐞𝐫𝐭 𝐓𝐫𝐚𝐝𝐞𝐫𝐬!

It can do everything crucial for you as a forex or crypto trader, that’s finding best times to place orders, close trades and test strategies to ensure successful trades

𝑪𝒐𝒓𝒆 𝑩𝒆𝒏𝒆𝒇𝒊𝒕𝒔:

1- The Forexcopier Robot searches for profitable trading opportunities round-the-clock, 5 days a week. Therefore, unless you disable it, you will never miss a profitable trade opportunity.

2-In contrast to us, this Forexcopier Robot does not exhibit emotional instability and will only function in an environment that is completely calculating.

3. It automatically analyzes the market data.

For inquiries get in touch
https://forexcopier.com/afs/idevaffiliate.php?id=1010

However, this post is not about bots/automation.

It’s about the blind optimism among beginners in Crypto and Forex Trading, or what we might call hope, that makes them believe every losing trade will somehow bounce back and go according to plan.

It is this irrationality that makes critics equate forex and crypto trading to gambling.

Logic demands that a losing trade should be cut off like a plague once it hits your strategy’s real or mental stop loss.

Therefore, the loss should be anticipated even before opening your position, to mean that you should expect to close the position if it hits, say, negative $20 or $100.

Closing losing positions in good time allows you to recover without the pressure to revenge trade or the risk of blowing your account.

It also gives you a sense of control over your trading, effectively differentiating you from a gambler with zero control over an outcome.

Anticipating a loss also lets you know whether your lot size makes sense.

For instance, if you intend to open a lot size of 1 on a $500 account with the expectation to earn only $20 profit, you should be able to unequivocally state at what loss amount you will exit, then you can soberly weigh whether you are making sense.

What is the point of having a stop loss that makes you lose $100 and a take profit that gives you only $20?

If you are not prepared to have the loss conversation with yourself every damn time before opening a position, you are setting yourself up for failure.

Let nobody intimidate or lie to you that they never make losses.

Successful trading is not about avoiding losses entirely but rather, about managing them effectively and maintaining a positive risk-reward ratio.

“Do not be a zombie; engage your mind, think!”

Belive in urself and trust the process.

I don’t care if you think this Crypto bull run is going to be hard.

You should still do it anyway, but by starting in a small way.

Because when it is done,

Everyone is going to call you lucky.

But this is far from luck.

The best time to accumulate Bitcoin…..slowly…is now…
    
Bitcoin is a decentralized Internet digital currency with secure storage, easy to use and free circulation around the world.

Bitcoin is not only your inviolable private property, but also the digital gold to maintain and increase the value of your assets.

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Someone said”Trade your style and don’t look for the holy grail, in forex and crypto as there’s no holy grail”

There are no perfect entries:

Breakouts may fail

Pullbacks may never come

Confirmation may be too late

Pullbacks may become a reversal

But the good news is this, you don’t need perfect entries to make it as a trader.

And you should also make it a habit of taking your profits, no matter how small offline so as to build up your savings.

All Beginners in Crypto and Forex Trading have the chance to upgrade their crypto journey with a hardware wallet and earn cryptocurrency on the way.

• Buy a Ledger Nano X and receive $30 BTC

• Buy a Ledger Nano S Plus and receive $20 BTC

………… Don’t forget to keep your profits offline…no matter how small.

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💬 There are two main kinds of mistakes that one can make in trading.

Surprisingly, both are related to trading psychology.

🔼 The first mistake is trading too much.

You will get more emotional with each trade, whether this is a win streak or a lose streak.

You get a higher chance of placing too many trades to gain more profit.
Eventually, this will result in a wrong trading approach and losses.

🔽 The second mistake is the absence of Stop Loss.

This way, you break the most important concept of trading, risk management.

Your risks are almost unlimited without a stop loss.

Even if you think you control the situation, this isn’t true.
We can’t control markets, and a Stop Loss is essential for our safety.

In 399 B.C., when Socrates stood trial for corrupting the youth and dishonoring the gods of Athens, he told the 500 jurors, “The unexamined life is not worth living.”

He consequently chose death instead of the easier route of going into exile, demonstrating his belief that a meaningful life requires questioning, criticism, and the constant examination of one’s beliefs and actions no matter how small.

Of what use was it to be banished into exile, where he would live a life devoid of the pursuit of knowledge and self-improvement?

I draw from this wisdom to share my trading journey through my blog and to encourage everyone to trade in what ever small way.

By accepting the vulnerability to publicly share and track our trading performance, we can gain insights into our strengths and weaknesses.

We will also develop a sense of accountability, not just to ourselves but to strangers, friends, and even critics who will be following what we are doing.

Knowing that others are observing our trading patterns can be a powerful motivator to develop better trading strategies, risk management techniques, and overall trading discipline.

Ultimately, we are here to improve our trading skills and encourage each other to grow, so why not do it by exposing ourselves to scrutiny?