My trading diary on Binance

[goaldigger]

Keeping a trading diary and managing risks is smart. Just trade responsibly.

Definitely and there is no need to share it, just focus on your own and achieve your goals in private.
You cannot expect traders to follow your diary as we all have our own ways to trade using a different strategy. Be more responsible and trade professionally to avoid any uncertain losses and to maximize your winning strategy.

[GreatArkansas]

Keeping a trading diary and managing risks is smart. Just trade responsibly.

Definitely and there is no need to share it, just focus on your own and achieve your goals in private.
You cannot expect traders to follow your diary as we all have our own ways to trade using a different strategy. Be more responsible and trade professionally to avoid any uncertain losses and to maximize your winning strategy.

It's fine, I believe OP is just sharing it, that's the purpose of this forum especially maybe OP can get some learn or advice from us, other members of the forum.
It's the best place to learn that's why. Especially trading and money are involved already.

Because for example if OP is doing something not that good, we can tell him or give him advice.

[Awaklara]

It's fine, I believe OP is just sharing it, that's the purpose of this forum especially maybe OP can get some learn or advice from us, other members of the forum.
It's the best place to learn that's why. Especially trading and money are involved already.

Because for example if OP is doing something not that good, we can tell him or give him advice.

Yes, that's what the OP meant. he can post some information that he uses for trading and other members who may not be experienced can try what is shared. or if some mistakes or things are not quite right, the OP will receive input from other members who may be more experienced.
I don't think there is a problem with sharing information and knowledge. As long as it doesn't mislead other users then everything will be fine. We can learn a lot, and not all of it comes from high ranking members.

[Lakai01]

Hmm risk management should be the priority for the newbies, on the same time I cant get your theory behind 1 trade per day, anyway I'll be interested in more information from your side like bereifing of your plan to analyze is it worth it or not.

Risk management has nothing to do with whether you are a newbie or not, it is the essential part of any trading strategy. without risk management, loss is virtually guaranteed over several trades.

Even well-known traders like ToneVays invest a lot of time in planning and executing risk management!


@OP First of all, thanks for sharing your ideas!
On which time frame do you execute your trades? Since you are assuming that a new hype could arise here, is that presumably several days/weeks?

[Out of mind]

Hi everyone, I want to keep my trading diary / sometimes just post trading setups ideas. The goal is to learn, to instill discipline, to become a consistently successful trader.

I trade on Binance - 1/2% risk no more than 1 trade.

If you use my trading ideas - do it at your own risk, I am not responsible.

Let's go!!! 

Binance is a popular and good exchange here, if you can complete one trade per day then surely you will be able to make profit here. If you are experienced and knowledgeable then you have good knowledge and understanding about business and trading then you can profit by trading. If you trade according to the target you follow daily, you may make a profit, but you will definitely face a loss at some point. If you make a profit on one trade, there is no need to take the next one, of course you plan the next one for another day. And your target, although I am currently not very experienced in training, but if you follow this target and trade, you will be able to avoid losses.

[Hamza2424]

Hmm risk management should be the priority for the newbies, on the same time I cant get your theory behind 1 trade per day, anyway I'll be interested in more information from your side like bereifing of your plan to analyze is it worth it or not.

Risk management has nothing to do with whether you are a newbie or not, it is the essential part of any trading strategy. without risk management, loss is virtually guaranteed over several trades.

Even well-known traders like ToneVays invest a lot of time in planning and executing risk management!

Hmm, so where I said it's only for the newbies, and where I said senior that I don't know about risk management can you please mention it was a comment to highlight the prominent factors that every newbie should acknowledge because most of them ignore it, for experienced traders they already knew what to do what not to based on their experience. Well, I cant find anything in the post where I've said it has only something to do with the newbie or experienced traders, even though I've scanned my post 5 times haha before making a reply on it.

[Lakai01]

Hmm, so where I said it's only for the newbies, and where I said senior that I don't know about risk management can you please mention it was a comment to highlight the prominent factors that every newbie should acknowledge because most of them ignore it [...]

I can reassure you, you didn't just refer to newbies anywhere

But I wanted to emphasize once again that risk management is extremely important. After reading your lines, one might otherwise get the impression that risk management is less relevant the more experience you have, but that's not the case. On the contrary: experienced traders attach great importance to risk planning and risk management.

[KZavarov]

TRADE №2

• Analysis: https://www.tradingview.com/chart/WLDUSDT/M0PDCwLA-WLD-USDT-Immediate-Market-Entry-After-Support-Bounce-1-2-R-RWL/
• Entry: Market Order
• Risk: 1%
• R/R: 1/2

So, memcoins are on the rumor mill right now...PEPE looks like it could start a runaway rise...or will there be a correction after all?

If there will be a correction, then PEPE liquidity may spill over from PEPE into Tier-2 memcoins...maybe BONK, WIF.

Ok, then here is my first trade idea on BONK.

TRADE №1

• Analysis: https://www.tradingview.com/chart/BONKUSDT/MvcxhfaF-BONK-USDT-Targeting-Upside-Breakout-Buy-Stop-at-0-00003700/
• Entry: Buy Stop at 3700
• Risk: 1%
• R/R: 1/2

TRADE №1 result: TP, +2%

P.S. I will answer questions a little later. Thanks

[Fuso.hp]

First I want to make sure you choose a good crypto exchange to trade with. Binance is definitely the best choice for a user and this exchange is quite easy to use and also advanced in terms of security. You just need to trade with the right strategy, as long as you can trade with the right strategy, you can do well in trading. If you have enough knowledge about trading then you should first get enough knowledge about trading. Build your own trading skills instead of following others. If you make a mistake in your trading, there is no problem because you can learn from that mistake. But when you follow another trader directly you will not learn anything which will make you more likely to lose money in later trades.  So create your own trading strategy by taking ideas from others rather than taking note of others' strategies.

[Cryptomultiplier]

So, memcoins are on the rumor mill right now...PEPE looks like it could start a runaway rise...or will there be a correction after all?

If there will be a correction, then PEPE liquidity may spill over from PEPE into Tier-2 memcoins...maybe BONK, WIF.

Ok, then here is my first trade idea on BONK.

TRADE №1

• Analysis: https://www.tradingview.com/chart/BONKUSDT/MvcxhfaF-BONK-USDT-Targeting-Upside-Breakout-Buy-Stop-at-0-00003700/
• Entry: Buy Stop at 3700
• Risk: 1%
• R/R: 1/2

Cool, another trader wants to start a diary here. Please make sure you keep disciplined If a trader can't even update a daily diary of trades, then he can't have discipline to stick to trading strategies

Remember. Post exactly how much you trade, exact entry and exit. With net loss/profit minus fees. And why you took and exited. Otherwise, pointless diary

So you want to keep your trading diary on this thread on this forum? There are many online managers that you can have notes that you can use for it. I do not see any reason you should make use of this forum for trading diary because posting here should not be a (personal) note for you.

He probably wants to show off a bit and its understandable, but needs to do as I said above Crypto traders famous for giving tips but never exact details.

Thanks for the tips!

So you want to keep your trading diary on this thread on this forum? There are many online managers that you can have notes that you can use for it. I do not see any reason you should make use of this forum for trading diary because posting here should not be a (personal) note for you.

I want not only to keep personal notes, but also to get feedback from the community, from those people who will be interested in my endeavors. win-win!

P.S. How can I insert images here?? Thanks in advance!

I like your idea, afterall cryptocurrency started as an idea and today it's a success that is universal in it's process application and use.
For newbie or old time traders who need motivation and perhaps a guide on how to conquer their trading goals, keeping up with your diary, that's if you are consistent with it, will ensure they too meet success and have good returns.

For the images you want to upload here, use TalkIMG.com to upload your pic, copy and share link here.

[Hamza2424]

Hmm, so where I said it's only for the newbies, and where I said senior that I don't know about risk management can you please mention it was a comment to highlight the prominent factors that every newbie should acknowledge because most of them ignore it [...]

I can reassure you, you didn't just refer to newbies anywhere

But I wanted to emphasize once again that risk management is extremely important. After reading your lines, one might otherwise get the impression that risk management is less relevant the more experience you have, but that's not the case. On the contrary: experienced traders attach great importance to risk planning and risk management.

Hmm, Yup I got it, thanks a lot for the explanation seems like I was impulsive haha anyway risk management was a concept I've got after making a lot of mistakes, in my early times so I was quite conscious after reading OP and about his ideas, because sometimes when newbies consider someone their mentor they blindly follow him without even considering the development of their skills.

[lombok]

Hmm, so where I said it's only for the newbies, and where I said senior that I don't know about risk management can you please mention it was a comment to highlight the prominent factors that every newbie should acknowledge because most of them ignore it [...]

I can reassure you, you didn't just refer to newbies anywhere

But I wanted to emphasize once again that risk management is extremely important. After reading your lines, one might otherwise get the impression that risk management is less relevant the more experience you have, but that's not the case. On the contrary: experienced traders attach great importance to risk planning and risk management.

Hmm, Yup I got it, thanks a lot for the explanation seems like I was impulsive haha anyway risk management was a concept I've got after making a lot of mistakes, in my early times so I was quite conscious after reading OP and about his ideas, because sometimes when newbies consider someone their mentor they blindly follow him without even considering the development of their skills.

As long as we are still beginners, this is not an important problem because we can turn mistakes into very important experiences. The hope is that when we have experiences like this, in the future the same mistakes will not be repeated. Those who are currently professional traders certainly have a lot of experience from various kinds of mistakes they have made in the past.

[Hamza2424]

As long as we are still beginners, this is not an important problem because we can turn mistakes into very important experiences. The hope is that when we have experiences like this, in the future the same mistakes will not be repeated. Those who are currently professional traders certainly have a lot of experience from various kinds of mistakes they have made in the past.

I think it's kind of funny that for the first time ever, I'm posting my third reply on the same thread. Even though I know there's nothing wrong with that, I usually respond late anyway. Why are mistakes important? Most people give suggestions or recommendations, but they don't always follow them themselves—they just pretend to be pros. These mistakes make them realize they should practice what they preach. I've encountered many members like this, and I've made similar mistakes in the past.

When managing live trades, I used to tell everyone never to go all in. But early on in the forum, I was probably an SR member, and there was a coin I was highly bullish on because of YouTube influencers and the hype wave. At that time, I ignored all my trading rules and adopted an all-in strategy. It ended up being a waste of time and funds, with only a pretty average profit in the end. The most valuable lessons come from our blunders and mistakes, but only if we really acknowledge them and implement the learnings in our plans of action.

[slaman29]

Hey OP I noticed you posted your first trade and that it already is hit target. You did great, posted the actual trade but maybe use TalkIMG.com as suggested by another member, to save these screenshots.

Good to put your RR and Remember my suggestion, but even better is.

Entry price as mentioned, but how much units? And what is the exit? And your reason behind the idea too.

I know the chart explains it already but better to just list everything out in your Trade post here since we can all read, bankroll, actual units amount, then easy to compare later. This is much better than just % IMO. So start the bankroll count, and after every exit update, in both units and %

GL! Keep going!

[coinerer]

Hmm, so where I said it's only for the newbies, and where I said senior that I don't know about risk management can you please mention it was a comment to highlight the prominent factors that every newbie should acknowledge because most of them ignore it [...]

I can reassure you, you didn't just refer to newbies anywhere

But I wanted to emphasize once again that risk management is extremely important. After reading your lines, one might otherwise get the impression that risk management is less relevant the more experience you have, but that's not the case. On the contrary: experienced traders attach great importance to risk planning and risk management.

Hmm, Yup I got it, thanks a lot for the explanation seems like I was impulsive haha anyway risk management was a concept I've got after making a lot of mistakes, in my early times so I was quite conscious after reading OP and about his ideas, because sometimes when newbies consider someone their mentor they blindly follow him without even considering the development of their skills.

Yes, if you make a mistake and lose in trading, you can learn about that mistake and learn the right things.  So in the case of trading, you have to take risk and continue trading by accepting risk and loss. By analyzing trading charts it is possible to make an accurate prediction and profit from trading but not 100% guaranteed. so there is always risk. no trader can ever trade risk free.

[rojan]

Yes, if you make a mistake and lose in trading, you can learn about that mistake and learn the right things.  So in the case of trading, you have to take risk and continue trading by accepting risk and loss. By analyzing trading charts it is possible to make an accurate prediction and profit from trading but not 100% guaranteed. so there is always risk. no trader can ever trade risk free.

There may be mistakes while learning trading, but the more mistakes you make while trading, the more you can learn. And if you don't try to learn something new after making mistakes, you won't be able to do well in trading. There will be a risk of losing everything while trading.  Everyone is doing trading. Our Wuching help those who want to start trading in a new way by giving good advice so that newbies can gain good experience about trading.

[Zigabel]

Hi everyone, I want to keep my trading diary / sometimes just post trading setups ideas. The goal is to learn, to instill discipline, to become a consistently successful trader.

I trade on Binance - 1/2% risk no more than 1 trade.

If you use my trading ideas - do it at your own risk, I am not responsible.

Let's go!!! 

this is a good strategy but then i think it isn't very profitable because a consistent loss of about three trades may lead to you getting more loses than you would profit hence putting pressure on your mind to trade which in the long run will get you to loosing your account or totally liquidate but then if you eventually have a better strategy that gives you 1: 3 that can be considered a very good strategy because if you sample three trades and eventually win just two and loose three of the trades, its enough and eventually making for your losses so you don't really actually get to really loose even amidst loses because your wins are enough to make up and cover for your losses.

Trading is basically fort the purpose of making profits so if your are not making profits then you shouldn't be trading or probably quit for awhile to sharpen your skill and make sure you are coming back with a better strategy that should be making you profits more than with the previous else you should further thing of improving in how much information you have got about trading so you don't keep loosing your funds to trading.

[adultcrypto]

Hi everyone, I want to keep my trading diary / sometimes just post trading setups ideas. The goal is to learn, to instill discipline, to become a consistently successful trader.

I trade on Binance - 1/2% risk no more than 1 trade.

If you use my trading ideas - do it at your own risk, I am not responsible.

Let's go!!! 

Are you directing us to where you post your trading idea because what you have posted has no information in it? The only thing I picked from your post is that you employ 1/2% per trade and 1 trade per day, how does this unclear information help a trader? Well, if this work for you and you are able to master your strategy so well that that single trade is able to allow you meet your trading objectives, then fine.

As for me, I don't see the point of a single trade per day, that will make you ignore the probabilistic aspect of trading because you will want to be so perfect, and this will be the beginning of mistakes. As for me I target three to five traders per day and ensure my win rate is at least 50% and that will put me in profits for the day.

[Lakai01]

Yes, if you make a mistake and lose in trading, you can learn about that mistake and learn the right things.  So in the case of trading, you have to take risk and continue trading by accepting risk and loss. By analyzing trading charts it is possible to make an accurate prediction and profit from trading but not 100% guaranteed. so there is always risk. no trader can ever trade risk free.

There may be mistakes while learning trading, but the more mistakes you make while trading, the more you can learn. And if you don't try to learn something new after making mistakes, you won't be able to do well in trading. There will be a risk of losing everything while trading.  Everyone is doing trading. Our Wuching help those who want to start trading in a new way by giving good advice so that newbies can gain good experience about trading.

I think you have to be very careful here:
The standard mistakes of newcomers (adding capital to poorly performing trades, for example) should never be learned in a phase where you are already using real money. Procedures such as paper trading are very suitable here. This involves trading normally in the market, but either using play money (some apps provide this) or recording the trades in an Excel file.

This allows you to get to know yourself and your own market reactions very well, but you don't lose any money in the process.

[synchronym]

Hmm, so where I said it's only for the newbies, and where I said senior that I don't know about risk management can you please mention it was a comment to highlight the prominent factors that every newbie should acknowledge because most of them ignore it [...]

I can reassure you, you didn't just refer to newbies anywhere

But I wanted to emphasize once again that risk management is extremely important. After reading your lines, one might otherwise get the impression that risk management is less relevant the more experience you have, but that's not the case. On the contrary: experienced traders attach great importance to risk planning and risk management.

Hmm, Yup I got it, thanks a lot for the explanation seems like I was impulsive haha anyway risk management was a concept I've got after making a lot of mistakes, in my early times so I was quite conscious after reading OP and about his ideas, because sometimes when newbies consider someone their mentor they blindly follow him without even considering the development of their skills.

Yes, if you make a mistake and lose in trading, you can learn about that mistake and learn the right things.  So in the case of trading, you have to take risk and continue trading by accepting risk and loss. By analyzing trading charts it is possible to make an accurate prediction and profit from trading but not 100% guaranteed. so there is always risk. no trader can ever trade risk free.

For those who are new to trading, I would say that before trading, you must gain enough knowledge about trading. If we do not gain enough knowledge about trading, then trading will not be very successful. Trading must be done with a long-term plan.  At times many traders are too hasty in trading due to which they lose money.