How many times You heard (hopefully didn't say) that.
Everyone for sure felt excited after a win but also very frustrated after a loss.
People will tell you that You must DYR, TA, Pay, HODL. Truth is the BIGGEST aspects (that affects every possible way you approach Crypto as a whole) are PATIENCE and DISCIPLINE.
On a Facebook group I saw a guy bashing on another because the latter had only $300 to invest. The first guy with a big sense of elitism said "You don't have enough capital". Sure. It's not easy. Sure the Bitcoin train has passed and EVERYONE hopes for something which can grow as much as BTC or ETH did. Well...what if I told you that you can start with $10? Making profits (almost) constantly but (sometimes) slowly.
Sure you do need all the things mentioned above...TA and Reasearch yes...but trust me that the biggest factors are patience and discipline.
$10 to $27.42 (and yes the first profit was about $0.016) in 4-8 days with trades (margin3-5x, leverage 2-10x and spot sometimes as rule of thumb).
Wait that makes $300 become $822.6!
How?
Many people will tell you RISK MANAGEMENT like if it's a sort of magic bullet.
it's pretty easy. Always use 1-10% of your trading account and THAT'S IT
"OH BUT I WAITED 3 hours for a $0.02 PNL"
Isn't that better than a -$1000/10000 PNL on a gamble?
PATIENCE and DISCIPLINE. Don't Get Greedy. Take Profit and Stop Losses.
TA and Reasearch. Don't go where FOMO goes. Open the charts and see what's the word on the street. Then plan and decide. Open an Excel file. Track what you do. Decide what is that you can take better. A quick scalp? A short? A support and resistance intraday trade? Swing trade? Day trade? Weekly Trade? And every time you get some profit. Pick 50% of it and divide it again. Get some BTC, put a few bucks in a pool on a major exchange like Binance and get some cheap alts and put them in staking. Repeat.
You don't feel ready and good enough? Perfect. Start with $10 USD as training. Not $20. $10. If necessary have a second training session with $10 but do not add up. YOU MUST LEARN AND GROW.
NOBODY BECOMES A TRADER OVERNIGHT AND EVERYONE MAKES MISTAKES.
TRACK EVERY TRADE.
Track account balance, Type of Account/Trade, Date, Time, PNL, PAIR, Leverage if any, CEX/DEX, Account Usage (remember, 1-10%), Margin Amount, Margin Type, ROI, the Type of Trading you are making (Swing? Daily, Intra, etc.), Take Profit, Stop Losses, Entry Price, Exit Price, Any Additional Note. Add something yours.
DEVELOP YOUR SYSTEM. WHATEVER WORKS FOR YOU. USE THE INDICATORS THAT ARE GIVING YOU THE BEST RESULTS
TRACK EVERYTHING. A $0.01 PNL or a 20% LOSS.
TRUST ME. YOU'LL GET BETTER.
You don't believe me? Please. Try.
For 2 weeks. Only with 10 bucks. Math will talk.
Remember. The proportion of a percentage is ALWAYS the same. A 80% loss of a $1 position is a worse trade than a 10% Stop loss of a $10000 account.
Try. Please. And feel free to let me know THAT IT WORKED.
Hello @genuinelycurious! This is @indayclara from @ocd (Original Content Decentralized) team. We saw that you already posted your first post here in Hive! Congratulations and welcome!
However the best way to start your journey here in Hive is do an awesome introduction post. Information like who are you and where you're from, how did you discover Hive or who invited you, what types of content you want to see here and the types that you want produce, and what are your expectations in this platform. There's no pressure on this. You can choose on whatever information you would like to share. As a sample of what an intro post is, you can refer to this intro posts for reference Keeping Up With the Buzz - My Introduction to the Hive Community
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If you have questions, you can hop into Discord server and we'll gladly answer your questions. Feel free to tag @lovesniper @indayclara once you have made your awesome introduction post! See you around.