The time has come to jump back in the charts! After taking some time away, mainly because I was stupid and blew up my last trading balance, not fully, but had to take the rest in an emergency to pay bills. Is what it is. So I am back on the grind, starting small, but going to work hard to grow those funds! This post is really just talking about my game plan, no real analysis, other than me analyzing my trading game, just wanted to let you know up front, haha.
I have been studying some strategies and doing some 'paper' trading and basically have been calling a lot of the last big movements. Bitcoin is easier to trade than some of these altcoins. Many of them follow Bitcoin pretty well, but not all the time. Many will follow Ethereum, and if you have been following those prices lately, things haven't been too good.
My other job has me in the Cosmos ecosystem, so I am going to be playing around with some ATOM trading as well as it is an option and has decent liquidity these days on Apollo X. I love trading on this exchange because it has all of the features you would find on something like Bybit, but it is a decentralized exchange on Binance Smart Chain and all you need to do is connect with Metamask, and a VPN if you are in the US, and get to doing some degenerate leverage trading!
Trading Bigger Swings
One thing that got me last time was trying to get down and play the 1 and 5 minute time frames. This can be fun, but will eventually eat you up in fees. Plus it can be extremely stressful, lol. You can look at it as a game as well. I was doing fairly well for a while, but I think with everything else I have going on, I will be moving up into the 15-30 minutes and then the 1-4 hour ranges. Just depends on the charts and what they are telling me is the better play.
Stop Second Guessing My Moves and Stick To The Plan
One thing that was getting me in my last run was I would go in and second guess my moves, which would only make things worse. I need to stick to my plan and go with what I am setting out to do. I would let me emotions get the best of me and I would start second guessing my moves and end up getting out of a trade too soon or something like that. When you start cancelling trades and such, you are also paying extra fees, so it starts to eat into your funds. I will be trying hard to not make these mistakes by trading plays that I am fully confident with and are confirmed.
No Overtrading
This ate me up, especially the 'revenge trade'. Always beware of the revenge trade. This is when you go into a trade because the last one went the wrong way and you are jumping in trying to make your money back. This will eat your butt every time. I mean literally, EVERY TIME!!! So I am just not going to do it.
This means that I have to train myself to completely leave emotions at the door, metaphorically speaking. I am disciplining myself into not making silly trades just to try and make up for a loss. I have been doing pretty well in my silent paper trading, so I figure it's time to get back out, with confidence, and make some money.
Can't Be Desperate
Coming into a trade under duress or with the feeling of desperation will get you too. It's not a bad thing to recognize that you don't want to lose any money, but if you are needing the money, it can make you do things with a bit more emotion and that is when you start making mistakes. The last run, I needed the money pretty bad, and I made stupid moves and I paid for those lessons in a hard way.
This time, I am in a bit better shape, with some decent income to cover my needs while I try to get my trading game back in full swing. So now I can not only focus on building the money but building my confidence, which is honestly more important in the trading game.
Just Here To Say I Am Back!
Not only am I going to be making more trading content again, but I am also going to be working on more charting education content as I feel I have gotten a good grasp over the years and can teach people some simple strategies to play that win a large amount of the time.
Hopefully, those interested will join me on my trading journey! Until next time...
Be Cool, Be Real, and always Abide!
Nothing said is financial advise.
This is for educational and recreational purposes only!
Stay safe in these volatile markets and don’t get rekt!
Trade with me on Apollo X on BSC
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Posted from my blog with Exxp : https://coin-logic.com/back-on-the-trading-grind-leverage-trading-btc-on-apollox/