From Forex Trading to Crypto Trading

[RetailTrader]

Hello Cryptonians,
    I am very new to the field of cryptocurrency, but personally I believe I am experienced in forex trading ( have been trading forex since 2014). I am really excited to also join you guys and expand my trading career as a crypto trader. I am not here to promote anything, just to share my experience as a forex trader to be successful in the crypto trading also. I usually trade forex in the weekdays  and as time permits I find some time to trade crypto in the weekends. I started trading crypto (spot and leveraged) on Binance last month. As I am very new to the platform, first I deposited 50 USDT, and with proper risk management, I was able to grow it to 240 USDT.
https://i.imgur.com/airS29J.png

As you can see, I lost everything on the following day. So I did kind of an Analysis after this loss. The simple reason is that, I went out of my trading plan. For every trade that I have won, I had risked only a 10% of the balance (yeah I know it is higher than the usual, but I risked a bit more), For this loosing trade (on CTKUSDT), I had to increase my margin almost the max. Reason is that I did not wait for the best price, but jumped into buying. Had I waited for the best price, I would have had a balance of 2000+ USDT in my wallet. You might almost be thinking that this guys is just gambling and he will loose next time too. No I am not. You can do that with years of experience with little risks and higher reward. It is the risk:reward ratio that matters.

So I wanted to tell you guys.. If you are trading in a certain way, just don't deviate from it. Strictly stick to it. Manage your risk properly. You will surely be rewarded!.

Also I am planning to share my way of trading here, If any of you new to crypto trading and still finding a way to be profitable in leveraged trading, stay tuned!. This thread will be useful for you. Put enough effort to get your eyes familiar with the charts, and you will be able to read the price movement better.

[logfiles]

Welcome  

As I am very new to the platform, first I deposited 50 USDT, and with proper risk management, I was able to grow it to 240 USDT.

Out of curiosity what leverage did you use? Personally, I rarely go beyond 10x

As you can see, I lost everything on the following day. So I did kind of an Analysis after this loss. The simple reason is that, I went out of my trading plan. For every trade that I have won, I had risked only a 10% of the balance (yeah I know it is higher than the usual, but I risked a bit more), For this loosing trade (on CTKUSDT), I had to increase my margin almost the max. Reason is that I did not wait for the best price, but jumped into buying. Had I waited for the best price, I would have had a balance of 2000+ USDT in my wallet.

Yeah, I see where you made a mistake. This kind of trading requires a lot of discipline. You stick to the rules and your strategy no matter what, so long as it's working

Also I am planning to share my way of trading here, If any of you new to crypto trading and still finding a way to be profitable in leveraged trading, stay tuned!. This thread will be useful for you. Put enough effort to get your eyes familiar with the charts, and you will be able to read the price movement better.

I would be glad if you do. We learn new things every day and such threads can be helpful.

[martina14]

Hello Cryptonians,
    I am very new to the field of cryptocurrency, but personally I believe I am experienced in forex trading ( have been trading forex since 2014). I am really excited to also join you guys and expand my trading career as a crypto trader. I am not here to promote anything, just to share my experience as a forex trader to be successful in the crypto trading also. I usually trade forex in the weekdays  and as time permits I find some time to trade crypto in the weekends. I started trading crypto (spot and leveraged) on Binance last month. As I am very new to the platform, first I deposited 50 USDT, and with proper risk management, I was able to grow it to 240 USDT.


As you can see, I lost everything on the following day. So I did kind of an Analysis after this loss. The simple reason is that, I went out of my trading plan. For every trade that I have won, I had risked only a 10% of the balance (yeah I know it is higher than the usual, but I risked a bit more), For this loosing trade (on CTKUSDT), I had to increase my margin almost the max. Reason is that I did not wait for the best price, but jumped into buying. Had I waited for the best price, I would have had a balance of 2000+ USDT in my wallet. You might almost be thinking that this guys is just gambling and he will loose next time too. No I am not. You can do that with years of experience with little risks and higher reward. It is the risk:reward ratio that matters.

So I wanted to tell you guys.. If you are trading in a certain way, just don't deviate from it. Strictly stick to it. Manage your risk properly. You will surely be rewarded!.

Also I am planning to share my way of trading here, If any of you new to crypto trading and still finding a way to be profitable in leveraged trading, stay tuned!. This thread will be useful for you. Put enough effort to get your eyes familiar with the charts, and you will be able to read the price movement better.

It seems that you are one of the good traders in this type of business dude. According to your experienced, you learned so many
things in the forex trading, even you do tried to trade crypto for the weekend and yet you earned still, although, you lost in the first place when you are started only. Well, we will be happy to hear from that your gonna share in the future about how to manage trading and risk as an individuals crypto traders. Will wait on you to that matter anyway. 

[carlfebz2]

Trading Crypto is no different when you do Trade in forex and in fact you would really be on advantage if you do already have experience and knowledge on trading forex/stocks.

Im a forex/stocks trader itself but i did jump off into crypto due to very attractive returns which you cant really able to earn when you do trade in forex even though
the risk is more higher which somewhat can be handled out with proper risk management.

Its easy if you do know the basics on how market works.You'll just need to adjust when it comes to trade positioning and percentage in regards with stop-losses
and take profit levels.