Traders will say that their biggest weakness is a lack of patience
When you can get 65% control over self sabotaging behavior just by checking the average time between swings on a chart and spacing out your swing trades on the same time horizon
1/x
⚡️ About 122,000 homes were without power across the United States on Tuesday, down from a peak of 1.8 million on Saturday.
About 72% of those still without power were in Oregon and California.
I bang on about creating a trading manual far too often these days.
But it was Nov 2018 where I had some major drawdowns, zero structure.
Dec 2018 I stopped trading. I wasn’t allowed to trade until I had created my first trading manual for Jan 2019
My game changed ever since.
Positional Trading 1/5
Invest in 5-6 projects max for a mid / long term play!
Why not just buy more of your best ideas
One of my earliest mistakes in 2016/17 was having exposure to over 20-30 alts - scattered across various exchanges.
This was a nightmare to manage drawdown
@EmperorBTC Hey @EmperorBTC graduated college but couldn’t land a job due to pandemic. Been studying markets and learning about macro plays. Use to day trade but now my style consists of more macro term level to level plays. Less stress
Reached out to the guys over @ZyFiLabs and they are willing to do a 24hr #NFT giveaway for you guys!
One of the better utility projects I found where holding a playing card automatically enters you into a weekly 10,000 USDC giveaway. Check it out!
2 winners, simply RT to enter.
TRANSPARENCY TIME:
I make mistakes in my crypto investing at many times a day.
Here is a list of my biggest regrets in crypto investing: the mistakes that have cost me the most money.
🧵👇
Important as a longterm investor
DONT BLINDLY INVEST ALL YOUR MONEY INTO 1 COIN
Here is my own strategy with a few examples:
Quality projects such as $luna $woo $qrdo ( 6/8% per coin max )
Lowcaps with high risk - max 2.5% of your portfolio per coin.
25%/30% $UST
1/2
@RAFAELA_RIGO_ RSI is THE KING
However, 99.999% of traders do not know how to use it. It is at least a 1-2 year STUDY for true comprehension
RSI from April 2021. Notice the Redline target of $28.6k #BTC when few even entertained such a though
@FishingWicks 10k - quickest way to grow an account is to trade your best setup and only that one setup with high expectancy rate / win rate - nothing else.
Improve on your winning strategy and repeat it over and over again.
Compounded
Sometimes its ok to accept your initial trade is going against you and cut early. No need to take full 1R loss.
Play the probabilities in conditions that make sense.
Can always enter again once plans become clear.
Manage capital / risk first.... rest will look after itself.
RSI divergence on 1D is a very strong tool to know if a big drop is coming soon . When chart is making HH on daily timeframe but at the same time RSI is making LL , we should be little cautious cause most of time there may be a drop around the corner .