Trading is something where you need to know analysis, money management, analysis risk, maintain loss, Control Your Emotions and so on. Well I believe its good to have your own stretegy rather than following others. But everyone has different mindset, so are for their trading Strategies. Can you share yours, so that other one could learn from you and can do improvement in himself? Thanks
Very few traders can describe their strategy with the accuracy that you want from them, as a great deal of what they do depends on their experience reading the charts and taking a quick decision at that moment, besides strategies can be incredibly complex and a few paragraphs are not going to be enough to describe them, so if you really want to learn more about how to become a profitable trader, you need to look for sources in which this is explained more clearly. You're absolutely right. Trading often relies heavily on personal experience and the ability to make swift decisions based on chart analysis. While strategies can be complex and difficult to convey in just a few paragraphs, the value of human judgment and adaptability in trading cannot be overstated. Having a mentor and engaging directly with experienced traders can be incredibly beneficial for learning and refining your strategies. It's also helpful to explore comprehensive resources. I recommend reading this blog Crypto Trading Strategies ( https://r100k.com/blog/crypto-trading-strategies-2024) for a deeper understanding, of the strategy I follow and additional perspectives that combine experienced insights with structured approaches. |
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On the aspect of emotion, as important as it in trading, it's easier said than done because even well known experts still struggle to fight emotion sometimes. Although, it can be learned over time but very difficult to handle. However, the easiest way to learn how to control your emotions is by practice. The more you engage in trading, the more you'll be learning how to control your emotions.
Absolutely, emotions like greed and overconfidence can indeed be significant obstacles in trading. Implementing risk management strategies is key to keeping emotions in check. Taking partial profits, setting stop losses, and being flexible with profit targets are all smart practices. Having a plan and sticking to it within set parameters is crucial. It helps maintain discipline and reduces emotional decision-making. For more on developing and adhering to a solid trading plan, I recommend checking out thsi blog on Crypto Trading Strategies ( https://r100k.com/blog/crypto-trading-strategies-2024). This article provides valuable insights into creating a structured approach to trading that can help manage emotions and enhance decision-making. |
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My 2024 btc plan with which I will start my 2024 year the following months possible btc low and high we will see later. as we know according to btc the market moves on the following prices I buy or sell according to the correct %.
January 37500- 43000
February 40300-44300
march 41500-45700
April 41700-46000
may 41200-46100
June 42300-47200
July 45600-48000
December 37000-56500$
Your plan for trading Bitcoin in 2024, with specific buy and sell targets based on projected monthly highs and lows, is a strategic approach. It’s smart to have set parameters for entering and exiting trades. To complement your strategy and gain more insights, I recommend reading R100K’s Crypto Trading Strategies ( https://r100k.com/blog/best-time-to-trade-crypto-2024). This blog could provide additional perspectives and techniques to enhance your trading decisions throughout the year, especially considering the volatile nature of the crypto market. |
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This is something most of us are missing to understand with the use of bots. The difference between this bots and human is emotion. Since they are machine programed, they trade without emotions because they have no feelings but as far as they still lose trade, they are not too better than humans. Some people believe that bot can give them 100 percent accuracy based on what they read online but that's very far from reality.
Please, read my latest comment (#15 in this thread) and share your opinion. Thanks! |
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If you can't do it on your own, then trading is not for you. As I said before it's not always about calculation and mathematical terms. So you can't always win even if you have your dream bot with all the feature, if it does not have human emotions.
That's a great point. As an investor, I wouldn't feel great if I were investing in something I couldn't manage myself. But what about all the people who just want to profit and grow their savings - let's say a retired couple who worked all their lives and now have an opportunity to grow their pension savings with a platform where bots are supervised by experienced traders? Where the bots don't make the trading decisions but provide lightning-fast calculations and in-depth analyses to spot high-reward investing opportunities? Or should we just avoid AI bots for trading on principle in your opinion? |
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I am doing scalping with 1 minute chart and I see a big rejection candle at 22.21 london time for most alcoins, also for btc...how do you guys interpret this?
My guess is the trading with the altcoins is done most by bots...
Any tips on how I could learn to automate my trading with bots?
A single rejection candle, even across multiple coins, could be noise or a shift in momentum. It's crucial to avoid overreacting. I would consider larger timeframe trends and confirmations before trading decisions. I also suggest using the hourly chart along with the 1-minute chart for trading decisions instead of just scalping on that one scale. Of course, scalping itself is pretty risky on principle. Bot prevalence in altcoins is likely, highlighting the need for an excellent strategy. Automation can be helpful, but thorough research and understanding of different bot types and their limitations are crucial before diving in. Check out reputable resources and consider paper trading first. I would recommend trying a rebalancing bot. A point to take into consideration is that while bots can do most of the work, I would not recommend leaving it entirely up to the bots. Human supervision is integral especially for the market right now. And if you don’t have the experience, I would recommend investing in funds for you in the market. Remember, successful scalping relies on discipline, risk management, and avoiding impulsive decisions based on single signals. If you have any questions you can contact me via my Discord: https://discord.gg/dCvaBZWNcG |
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I'm obviously somebody who believes trading in altcoins is the right way to maximize profits. Now that we're getting close to a new Bitcoin bull cycle, I just wanted to know how soon do you think altcoins will take flight? Are you following the Altcoin Season Index?
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Just wanted to touch base and see how your holidays are going. Any significant updates in your portfolio?
Historical data indicates that significant holidays, such as Christmas, tend to bring about noticeable shifts in trading patterns and market sentiments.
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A lot of people have been asking me this question, so I thought I'd ask you guys the same. My plan is to diversify across promising projects, optimize with rebalancing, and keep a level head throughout the ride.
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Hi guys! Happy holidays! Just wanted to know if you're planning on using AI bots and such technologies to boost your crypto profits in 2024. And now that I'm talking about this, I'm curious if you've already started to use AI for taking trades.
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Hi guys!
Just wanted to know how many cryptocurrencies you're invested in? And with what percentage of your portfolio (No need to mention the amounts involved, if you don't want to). Just want to get a general sense of how everyone's diversifying their crypto assets.
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So, I longed chainlink yesterday, with 10x leverage as market appeared so good. Now, there has been dump and my position got liquidated.
I usually go with 2-4x leverage, and that gives me safer liquidation price however this time I went with 10x leverage, as I thought bulls have arrived, and it's only up from here, and you see how wrong that turned out.
Take whatever lesson you want. For me, it's to stick with 2-4x leverage with which I tend to do good, don't allow greed to enter.
Here's some lessons I already learned but want to write here so that other users can learn from it. 1. Do not left a trade overnight, without placing a alert on prices, without placing an stoploss. we need to keep an eye on trade with which have huge leverage size. 2. do not take decision by seeing good news and greenery everywhere market does opposite most of the times. 3. do not lose control and increase leverage after some losing trade, instead stop trading for that day. and the loss is bigger than take a short break.
I used to trade with 20x leverage and after losing my control I switch to 50x leverage and get liquidated everytime, if the price gone in my favor I take profit before hitting my target. because we tend to hold losing trades. but now i don't do these stupid mistakes. I now trade with 2x-5x leverage. and if I want to take a risky trade than I trade with 10x leverage by using 5% margin. Great insights. I think at some point in time we all used to fall victim to high leverage and FOMO. It’s a matter of experience. I stick to a similar strategy, 2x-5x is my sweet spot, with 10x for occasional riskier bets with strict 5% margin. It keeps risk in check while offering some flexibility. I also use an AI-driven stop-loss system and use a long-term analysis and data-driven decisions when executing trades. It's necessary to protect your capital and make smart, calculated moves and not chase quick wins. If you have any questions you can contact me via my Discord: https://discord.gg/dCvaBZWNcG |
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If you listen to those unreliable crypto influencers, you will really be convinced that trading is all about money and profits, and the more you trade, the bigger amount of profits you will earn. But in reality, everything is hard in trading. It only gets harder if you trade with zero knowledge in trading. That is why do your own diligence to study trading and build your own skills and strategies through consistent exposure in the market. Success is not achieved easily, it takes a lot of patience and persistency to win that.
Absolutely! Building your trading knowledge and skills through consistent market exposure is crucial for long-term success. The allure of quick profits peddled by influencers can be strong, sustainable returns come from smart trading, not reckless gambles. Learning the ropes, building your own strategies, and doing your own due diligence is fundamental to succeeding. Platforms like R100K offer AI-powered strategies and provide opportunities for you to invest under our supervision, supporting your learning journey. Never blindly follow any platform or influencer's advice. Test, experiment, and find what works best for your unique risk tolerance and goals. Invest in your own education, research different strategies, and stay informed about market trends. |
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It's funny how people see trading as a Ponzi or get rich scheme. They end up losing there hard earned money in the chase for more money.
Nothing is as easy as it sounds. Even the most common thing undergoes a learning process of how it is done not to mention trading which requires someone's knowledge and skills before fully involved in it. It would be weird for anyone who doesn't know much about trading would view it as a Ponzi scheme no matter how he or she perceives it ''to trade for some time and earn money". That doesn't make anyone calling trading a Ponzi scheme. What I normally hear from people is how risky trading can be and it is not something someone can enter without having the knowledge and skills. That's how it should be, but nowadays we can see that there are many beginners who trade because they see success stories or other people's posts on social media related to trading. it sparked an attraction in beginners to try to make money from trading. the mistake is that they trade without knowledge and skills. they watch videos for trading and try to practice it. after failing, they just look for someone to tell them. every beginner has their own path to gaining experience and knowledge in trading. it would be better to get a mentor first when we are just starting out. and after that it's up to us to develop our trading skills. Completely agree. experienced traders can help you navigate the market and avoid so many pitfalls. I always recommend that people get mentors, Or someone to guide you on what trades to execute. |
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Hi guys, The correction we saw in the market earlier this week led to a lot of liquidations. Were you or anybody you know involved in a losing trade that day? If so, would you mind sharing some details about it? Thanks, Martin
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While I believe that its not perfect, technical analysis does offer valuable insights in crypto trading. It helps identify support/resistance levels and improves risk management, and helps guide your trading decisions. It has limitations, however, like being susceptible to market manipulation. To truly thrive, combine TA with other methods like fundamental and sentiment analysis. If you have any questions you can contact me via my Discord: https://discord.gg/2TFSrzunK3 |
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I completely agree with your analysis. You’re right on the fact that it's a good lesson for anyone involved in crypto trading, particularly the significance of dealing with risk and not giving in to impulsiveness. While the recent market dip might seem discouraging, it actually presents an excellent opportunity to invest. Especially in altcoins and bitcoins. With many cryptocurrencies currently undervalued, this is a chance to accumulate assets at lower prices. That’s what I do via diversifying and rebalancing my portfolio. It’s a way to accumulate while keeping your initial investment while DCA bitcoin gradually. If you have any questions you can contact me via my Discord: https://discord.gg/2TFSrzunK3 |
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I know my answer but I'm just trying to figure out where you guys stand on AI and crypto trading. The usual argument against AI is it can't make nuanced decisions - at least for now. But how much supervision do you think sophisticated bots require to make trading decisions effectively? And how long do you think it'll take to get to the point where AI doesn't need that supervision?
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As crypto traders, we all know the struggle. Analyzing charts, monitoring news, and navigating volatile markets can leave most people feeling overwhelmed and exhausted. Crypto trading bots have been extremely helpful in that regard, with the promise to automate the process and help us make informed decisions.
But let's be honest, most bots out there fall short. They lack the features we need to thrive in the ever changing crypto market. So, my question to you is what do you want to see in your dream bot?
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I have been watching my friend very closely; he was very impatient with trading. And this impermanence keeps him at a loss most of the time, which is really very frustrating and sad for him.
Because he spends his entire salary on trading, which over time earns him (supposedly 0.001) cents.
Not that he didn't know much about trading, but his elusiveness was the reason for his remoteness.
Seeing my friend's behavior like this used to make me feel a lot of fear and annoyance towards trading or cryptocurrency.My reluctance to trade developed even though I had not started trading then. Again, I had no idea about crypto world.
But I made this mistake after joining the community. There are frequent posts about trading on the "Trading Discussion" board in the forum, which is indeed very useful.From here, I can learn how to be patient while trading, control my greed, not spend all my money on trading or cryptocurrencies, and start trading with money that I can't afford to lose.
Although I still have a lot to know and learn, I tried to teach and explain to my friend what I learned from here on how to be patient while keeping your greed in check in the world of cryptocurrency. and how important it is to be patient on this platform. But he avoided these words of mine with much mockery and showed reluctance, which greatly insulted and pained me.
But a few days ago, he came to me on his own to learn about cryptocurrency and trading, which was a complete surprise for me.What's even more surprising is that he is now a registered member of the community. And l also read several posts on the forum saying that he is now much better than before, patiently trying to work on crypto, which I'm really glad to hear.
I agree that patience is crucial for success in cryptocurrency trading. Your friend's experience highlights this well. His initial impulsiveness led to losses, while your guidance and the community's resources helped him develop patience, leading to positive results. Having someone to guide you initially is imperative I feel. I myself experienced several ups and downs during my early trading experiences. And they highlighted to me the importance of patience. Witnessing the impact of impulsiveness led to how I trade now. By diversifying a minority while strategically rebalancing, I prioritize consistent growth over fleeting profits. And this is something I learnt through patience and several mistakes. Many of which I could have avoided with a mentor If you’d like to discuss this further, you can contact me via my Discord: https://discord.gg/2TFSrzunK3 |
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