TEN Crypto Trading Lesson.

[The Cryptovator]

I have found some useful advice for traders. So sharing with the community and it would help us to reduce loss from trading. I realized why most of us have been losing during the trade especially during bear markets. Although I don't know that person, but his lesson would be useful for us. I collect all the quotes from his Twitter together. So you may read from here rather than visit his Twitter account. Here is all his lesson.

1. If you don't learn to trade, time and manage your positions, you will lose all your bull market profits, eventually. This will absolutely happen, it's just maths. The above happened to 99% of class of 2017 people. Improve or die.

2. You don't need to be a genius to profit here. Keep clicking, understand the mindset of the proven good traders and research EVERY word they say. Eventually you'll have a good system to be independent and be on auto Pilot. Details of trading system

3. Make friends. Make a group with them and discuss, be active and OFFER before you ask for help. People will help you more when you tell them what you can do for them, rather than just asking for help. People like Johnnie have made me millions for just listening to them.

4. Which indicators to use? Horizontal S/R is the most logical kind of tool because it literally is derived from the supply/demand pressure. Apart from these, use the ones which derive their logic from order flows and not random mathematical statistics.

5. Insight information like Orderflow, Footprints, are a tool and not an edge. It provides you a scan of orders getting placed and executed but it's not an advantage unless you sit down weeks trying to understand the behaviour. Trading better comes from market behavior hacking.

6. In the long term, you will make more money by managing risks than by taking more risks. Market rewards constant small bets more then one degen big bet. You can recover all your losses if you do it slowly. Not having enough capital or patience makes the above a risk.

7. There's just one secret to trading. Keep clicking. Trade a lot. Risk small. Take a lot of bets and keep doing it. The more you trade, the better you her marinated and ready for the market. This teaches patience, planning and bring skin in the game. Trade a lot.

8. If you miss a breakout, don't chase it. Traders who lack discipline simply become chasers and that's a perfect recipe of bankruptcy. Waiting is the hardest thing in trading which is stupid because there's a new opportunity every hour.

9. Open hundred charts. Make your levels. Mark your entries. Journal it. Calculate your win rate and the price path the next day. Repeat it every day and see how you change. Trading is literally just this. Exercise what you do to get rich.

10. Give yourself time to learn the art before you expect profits from it. 3-4 years is a rational time to. Learn a new skill. Remember this.


I hope the above tips helped you. Was written while I laid on my bed for a power nap. Thank you, will release the Level to Level trade pdf soon. Apologies that it's taking so much time. Please read and share the above again and IMPLEMENT IT. PLEASE.

Source: https://twitter.com/EmperorBTC/status/1486348522408808457

[Maus0728]

8. If you miss a breakout, don't chase it. Traders who lack discipline simply become chasers and that's a perfect recipe of bankruptcy. Waiting is the hardest thing in trading which is stupid because there's a new opportunity every hour.

Source: https://twitter.com/EmperorBTC/status/1486348522408808457

Emperror BTC is definitely good in teaching other traders about the underlying technicalities in Day Trading, however, as a newbie or even an amateur, we need to cherry-pick some of their advices and tweak it according to our setup.

Looking at other stock traders, we can see that missing a breakout and not chasing it hinders our potential to profit in the market. And the phrase "buy low, sell high" has been hammered into our heads for so long that we believe it is the only way to profit from the market.

There is this strategy that I have learned on reddit which I shared here few week ago, that "buying high, selling higher" is also a viable strategy as long as you know Relative Strength/Relative Weakness (RS/RW) vs SPY(BTC) . It is basically a method where you analyze the market first which is the leading asset on a particular market and trade it using your technical analysis to determine when to enter and exit.

For example.

A crypto is showing signs of Relative Strength if:
- BTC goes up, ABC crypto is going up as well.
- BTC is flat (sideways), ABC crypto is going up
- BTC is down, ABC crypto isn't that much affected

Relative Weakness if
- BTC goes up, ABC crypto is'nt showing strong uptrend.
- BTC is flat (sideways), ABC crypto is going down
- BTC is down, ABC crypto is exponentially going down.

Therefore, buying high and selling it at a higher price is still doable as long as you compare the crypto you are going to trade against BTC as an identifier if the upward movement will going to continue or not.

Thanks for listening to my TEDTALK.

[The Sceptical Chymist]

7. There's just one secret to trading. Keep clicking. Trade a lot. Risk small. Take a lot of bets and keep doing it. The more you trade, the better you her marinated and ready for the market. This teaches patience, planning and bring skin in the game. Trade a lot.

Uh...OK.  That sounds like a recipe for losing all your money, but hey, maybe this Twitter guy with the sage advice knows what he's talking about.

OP, I'm going to be straight here:  this quote is a bunch of bullshit; most of it is just very general "tips" that I've heard repeated over and over, and there's absolutely nothing in this list that I could follow as an outline if I wanted to become a rich, successful trader.  Trading crypto is nothing more than gambling unless you have some inside information about a coin.  It isn't like the stock market where there are fundamentals to be analyzed (and if you think there are, you're very much mistaken).  The only thing very active crypto traders do is make guesses about the direction of the next few price ticks, and the only real "system" is TA....which is akin to homeopathy or some other pseudoscience.

What would we do without tweets like these?

[mk4]

Uh...OK.  That sounds like a recipe for losing all your money, but hey, maybe this Twitter guy with the sage advice knows what he's talking about.

OP, I'm going to be straight here:  this quote is a bunch of bullshit; most of it is just very general "tips" that I've heard repeated over and over, and there's absolutely nothing in this list that I could follow as an outline if I wanted to become a rich, successful trader.  Trading crypto is nothing more than gambling unless you have some inside information about a coin.  It isn't like the stock market where there are fundamentals to be analyzed (and if you think there are, you're very much mistaken).  The only thing very active crypto traders do is make guesses about the direction of the next few price ticks, and the only real "system" is TA....which is akin to homeopathy or some other pseudoscience.

What would we do without tweets like these?

Not necessarily that you literally need to be an insider. Sometimes doing simple things like digging deeper into their GitHub repos or Trello boards can give you a lot of information that the "YouTube researchers" don't know about. There are a good number of ways in frontrunning other traders/investors simply because 95% don't know what they're doing.

[Maus0728]

there's absolutely nothing in this list that I could follow as an outline if I wanted to become a rich, successful trader.

Couldn't agree more! These are just general concepts but without much context on how it can be applied to a specific setup or scenario. Learning these isn't enough to establish a good foundation for a consistent day trading career.

But hey! @The Pharmacist, if you are looking for an outline that you can use to have a specific trading plan, then I think you can use the link below. Don't get me wrong, it may look like that I am a fuckin shiller but the posts on that subreddit is pure gold especially that you have mentioned about stocks being different to crypto which I believe is very true! That's where I also learned the concept of RS/RW vs SPY which I am looking forward to apply in the crypto market once I have done my academic semester.

- https://www.reddit.com/r/RealDayTrading/wiki/index

[palle11]

7. There's just one secret to trading. Keep clicking. Trade a lot. Risk small. Take a lot of bets and keep doing it. The more you trade, the better you her marinated and ready for the market. This teaches patience, planning and bring skin in the game. Trade a lot.

Uh...OK.  That sounds like a recipe for losing all your money, but hey, maybe this Twitter guy with the sage advice knows what he's talking about.

OP, I'm going to be straight here:  this quote is a bunch of bullshit; most of it is just very general "tips" that I've heard repeated over and over, and there's absolutely nothing in this list that I could follow as an outline if I wanted to become a rich, successful trader.  Trading crypto is nothing more than gambling unless you have some inside information about a coin.  It isn't like the stock market where there are fundamentals to be analyzed (and if you think there are, you're very much mistaken).  The only thing very active crypto traders do is make guesses about the direction of the next few price ticks, and the only real "system" is TA....which is akin to homeopathy or some other pseudoscience.

What would we do without tweets like these?

I totally agree with what @ The Pharmacist has said. This is no unique tip to trade. They are just as has been said and known by traders. Therefore I don't see it fascinating. Moreover, number 7 as on quote is as scaring and confusing to even experienced trader.

Trading is only a little different from gambling with TA.

[Ararbermas]

Yhup that's helpful, and that's the most important lesson to remember in order to have a good journey in trading. Because to be honest when i was new i always keep searching for an information that can help me to have a good win rate and of course to minimize my losses everytime i trade. So i prefer to always listen some advices from other pro traders around the internet and most of the information i got from them is on your list above mate. So i hope everyone will see these thread especially those whose interested in trading because it's very useful..

[cryptoaddictchie]

...OK.  That sounds like a recipe for losing all your money, but hey, maybe this Twitter guy with the sage advice knows what he's talking about.

Thats a bit harsh. But I should tell you what he mentioned on his tweet is not about losing money. But an actual guide to a safer way of trading(but not guaranteed). This isnt TA cause I probably have someone else to follow for that and different source. But for some reason the guy tweeted got some heck of a followers.

there's absolutely nothing in this list that I could follow as an outline if I wanted to become a rich, successful trader. 

To get rich on crypto doesnt need to be expert on TA. Im only using basics of it but were able to have some gains. Also it depends on someone apetite for risk. The author must be probably speaking based on his experience, but his ratio of gain compared to loss is probably more than it is.

Thanks OP for sharing. Some will definitely find this common advise but it will definitely help some if they somehow do it.

[hugeblack]

I've always thought that trading is like learning to ride a bike or to drive a master, you can listen to hundreds of good advice, and thousands of hours of videos but unless you practice it you won't be able to do it.
The tips are good and should be applied, but the practical skill in trading, making a good plan, managing emotions, etc. needs practical practice.
I remember when I first started trading 2017-2108 and now, the difference is clear even though I haven't read any advice before.

The most important thing I can say is to learn from the mistakes, find out what I did wrong and try to improve it.

[mardaed]

I second @hugeblack, practical skills must need practical practice to be developed. It is true that this tips are just basic and general, but still, it serves its purpose on reminding and impart information to us. But going to its practicality, it would be proven and tested by actually practicing it. Whereas, after doing do, the mistakes and lessons gained from such will be taken into consideration to the following trading moves, and strive to do better.

[Peanutswar]

One of the major issues once making a trade is the decision making because even though we are knowledgeable with the trading at the end of the day trading decision is the hardest way like still holding your position like taking profit and stop-loss this is the part when sometimes we are greedy and too much hoping for a single trade. Still the best way is to stick to the trading plan as possible avoid getting carried by the emotions.

[passwordnow]

1 is true and that's why I've taken profits when it's just about to reach the ceiling. I was too quite early when I've taken profits but that's sort of regret if I've just waited a bit then the profit would be higher. But that's it, I've just learned that I've never taken much profit during 2017's bull run and I've just got to secure my profit during this recent bull run. Fulfilled, satisfied but also a little bit disappointed since I've missed more profits. That's go by the saying that "profit is profit" and never be greedy at all.

[Oshosondy]

7. There's just one secret to trading. Keep clicking. Trade a lot. Risk small. Take a lot of bets and keep doing it. The more you trade, the better you her marinated and ready for the market. This teaches patience, planning and bring skin in the game. Trade a lot.

Uh...OK.  That sounds like a recipe for losing all your money, but hey, maybe this Twitter guy with the sage advice knows what he's talking about.

When I traded a lot, I lost a lot. I do not understand the guy, he said trading a lot and be patient. If trading a lot, a little loss will set poor mindset to lure someone to trade more and lose more.

That is my own opinion

The guy is self centered and saying it the way he is doing it. For example, which I will never follow because I do not have time, the little trades I do always take time than me to watch the screen and see how the market is fluctuating. The guy meant little fund to be used, like 15 minutes trading. But this strategy was a failure for me. I can never do it again.

I prefer to trade ones in a day, I looked for top for short or bottom for long. I trade twice or ones on a day, but I prefer ones, I only enter second if I know profit will be possible.

Still trading is very risky.

[crwth]

All of the listed lessons are something that should be absorbed by everyone who tries to do trading. Most of it is also applicable to other aspects in life, maybe in business or in academics. It just knows that you are risking something to gain something. In that way, I think you would be able to grasp what you intend to do.

I think this should be taken in a way that you added this information to yourself and applied it to how you feel it would best fit achieving your goals.

[palle11]

I prefer to trade ones in a day, I looked for top for short or bottom for long. I trade twice or ones on a day, but I prefer ones, I only enter second if I know profit will be possible.

Still trading is very risky.

Of course trading is risky.

I understand what you mean here, trading the top and short. This is good but it takes someone with patient to wait and get the spot. Most of the time this is good because it gives a chance for faster retracing or correction profit. Usually trading while the market is just beginning to move is also good because you can have better profit. Is just about the trading skills and preferable time to enter.

[AakZaki]

I've always thought that trading is like learning to ride a bike or to drive a master, you can listen to hundreds of good advice, and thousands of hours of videos but unless you practice it you won't be able to do it.
The tips are good and should be applied, but the practical skill in trading, making a good plan, managing emotions, etc. needs practical practice.
~snip~

Doing everything you write down is probably the perfect trader. It will be difficult for beginners or most people. But I think the advice given is very good. Although I know many traders may not be as detailed as what you say but can maximize their profits. Everyone has strategies and alternatives, maybe for new members the advice is very useful. That's why they had to try, after that they would certainly find a way that suited the level of ability he had. So I don't think there's a need to be rigid we just need to try and find the best and comfortable thing for us.

[GreatArkansas]

(.....)

Source: https://twitter.com/EmperorBTC/status/1486348522408808457

@EmperorBTC is one of my favorite traders on crypto Twitter who is really kind for giving free trading lessons or advice.

I really like the number 10 lesson, which really talks about consistency and dedication, this is one of the most mistakes of newbies, they intended to stop after a few trades or don't have consistency, and keep complaining.

[cabron]

Crypto trading is very different to learn compared to the forex market where there are free trading strategies to be used immediately by newbies and then from there they can just learn how the market works. The Crypto market is different where traders learn from scratch while the project teams can be hostile to their investors as well.

10. Give yourself time to learn the art before you expect profits from it. 3-4 years is a rational time to. Learn a new skill. Remember this.

It takes time indeed and after years you are still in a training session. It would take a lot of time and perhaps just trading in BTC alone will be the best thing to do than going to altcoins.

[GeorgeJohn]

Lol..it depends on the individual, their is some people who are good in cryptocurrency and mostly in trading department when you wants to share the knowledge of crypto in order to upgrade yours or impact on them, they resist, Yes it nice to extend your information crypto trading to the neighborhood, but before done that you have to know the caliber of individuals in cycle because not everyone likes to hear the prosperity of another, even though you're in same business line....i know in cryptocurrency industry what really scale many people through is vital and cogent information's like this trading informations you render and good trader will absorbed most of the information, except it's newbies that will fine it very difficult to comprehend what you have narrated so far.

[pinggoki]

To everyone who wants to follow this, you still need to be careful. This lessons isn't a one and done solution for all of your trading problems because your situation will always be different than any other people, and it's the same thing for them. No matter how sound this lessons are, it might not be applicable to everyone at certain situations.