Averaging might cost your more especially with that amount, I’d rather to deposit huge one time and play with that capital already. The market is also unpredictable better not to expect that much and remember that it can’t go always according to your plan so be more flexible with your strategy. My advice is to continue learn how to trade perfectly and save more capital so you can really feel the good profit.
I guess the trader is learning. It would be better for him to just trade with the $10 he is using. Later he can increase the amount if derivative trading favours him.
The market was predictable, even I read on news and social media that some people might fall to bear trap which I too knew would happen. Before the FTX fud, bitcoin price was very low already, but FTX implosion result to more downtrend. After bitcoin got to $15400, it increased back to $16900, then decrease to $15800 the second and third time or so. That means the market is not going down further again. I expected traders to long than to short.
I do not short this days even as bitcoin is at $17400 today, I prefer not to trade than to go short because I prefer to just go long in a way I can hold for long.
It is good to use high amount of money to trade future while using very low leverage, but not for beginners. I think he started well as he even believes in averaging which could help swing traders.
I know your frustration since I also experience that when I started trading in futures, when I go short, the price go up, when I go long, the price go down, very frustrating. The next thing you'll do is to doubt your technical analysis, but it's the right thing to do, because if your technical analysis fails you most of the time, it only means something is wrong.
Trial and error is a must until you find the right indicators that works for you. Don't put too much leverage especially if you're not that confident about technical analysis.
Technical analysis can fail at anytime and it can be often if the right leverage, averaging and other strategies are not used appropriately, but as OP did not know he should long at a very low price like $16000, he needs to really still learn more about trading. Even the daily candle stick used with indicators are all suggesting bull market.
Thanks Alot Mate its all my thought and this time it worked but not every time so next time more analysis before opening the trade , but at the time seeing long term charts i see a clear resistance on 14k$ btc which needs to test before going 25k$ or more what you think ?
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