Hello all. Hope you are having a good start to this new year!
Things are starting off with some nice action for my crypto account. I can rememember when I first started trading crypto..with my huge investment of 500 php ($10 usd), of which I lost 5% right away thanks to the conversion rate. Things have come a long way since then. I remember making quite a few silly mistakes in those early days.. I will share with you guys my trading record so far.. soon, I just want to make 100 trades so you can easily see the %.
Consistent little wins are the key here, NOT a few big wins no matter how many little failures it takes. I used to think otherwise.. that a few home runs could win, no matter how many small losses you suffer. Then I thought.. if 90% of traders think that same way, and end up losing money.. why not try the opposite way (think like a pro MM/broker) and make tiny win after tiny win.. in the end it'll add up into big account growth!
Of course, If we only had a crystal ball.. could've just sold all my other coins and bought STEEM.. could've doubled the account just yesterday!
STEEM
(0.53% gain to account)
SBD
(1.03% gain)
XEM
(0.02% gain)
Note: one the big things I learned in all my trading.. at first, we see only the target, the goal, how we can win big and get rich, rich, RICH. and so we gamble more than trade smart. On the other side.. If you have a large account to start with, we often hold too tight to all that money and FEAR controls our trading. So it is this money management, and NOT to use our emotions, which often decides our success or failure.
The reason I want to spread my trading over many different coins, and not follow my emotional temptations such as putting a large % of my account into STEEM and SBD, is exactly for this reason.. control the risk and don't let emotions guide my trading. I want to increase the number of coins I trade to 20-25. This will mean that even if one of those coins tanks or even goes bankrupt and vanishes, I would only lose 4-5% of my total accounts. I can live with that much loss.
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