In this THREAD I will explain "Price & Volume relationship"
1. Price UP, Volume UP
2. Price UP, Volume DOWN
3. Price DOWN, Volume UP
4. Price DOWN, Volume DOWN
5. Relationship between PRICE, VOLUME and OI
🧵(1/7)
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Making too many decisions in Crypto is exhausting.
I started making more money once I learned about Systems Thinking.
Here's your playbook for creating Systems in Crypto:
(plus it stops emotions from killing your gains!)
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Everyone wants to be stoic.
But most don't know how.
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The 3 best things that built my confidence:
1. Building a body I’m proud of
2. Setting goals & achieving them overtime. Confidence comes from competence.
3. Solo traveling - particularly to countries where you don’t speak the language.
Just keep pushing your comfort zone.
I've traded for 6 years
Full-time for the last 2
You don't want to trade without understanding these 5 hard truths:🧵
1. You'll lose a lot before you make any
Trading is like any other venture
You lost a lot in the beginning to make a lot in the future
You may get lucky and make money in the beginning, but the odds are you'll lose a lot
It's the hard truth of trading.
If it were easy, everyone would do it
The ones who stick out the losses are the ones who make it
2. The more you trade, the less you'll make
Trading is about taking high-probability setups
Not taking as many trades as possible
If you find you're taking a lot of trades...
You are most likely forcing setups that aren't there
or revenge trading and trying to make your losses back
Taking only high-quality setups will result in more profits and fewer losses
3. Trading is 90% psychology
Even if the majority of traders were given a 70% win rate strategy, most would lose money
Traders are so emotional and controlling those emotions are a part of being a good trader
4. There's no "correct" way to trade
There are certain aspects of trading that everyone should follow, such as:
-Risk Management
-Trading with a plan
-Eliminating emotions
However...
There are TONS of different methods and strategies out there
And they all work
There's no perfect strategy
If you find an edge, stick with it. Don't get distracted by others
5. Trading isn't "fun"
Yes trading can be fun if you're oversizing and getting emotional
Making a lot of money in a short period is very fun
But the whole trading journey is much more
It's waking up and following a strict process/system
It's going through the mental toughness of losing money because of your own faults
It is the most rewarding career in my opinion, but still stressful at times
I hope you enjoyed 🙏
If you did, comment what you'd add to the list
Follow me @jordanfogel if you're interested in trading strategies and market psychology