#Trading isn't rocket science:
-Spot supply & demand zones
-Consider trends & rotations
-Asses probabilities for the next moves
-Use setups with proper risk/reward ratios
-Don't trade in extremes
-Learn from your mistakes
-Repeat
@WaqarAsim10 You are a legend Waqar, thank you for all of your input. You are the most professional and complete trader I have ever seen in 3/4 years . I would love to learn from you to crush all my goals in life📷 IG: max_berm
@WaqarAsim10 You are a legend Waqar, thank you for all of your input. You are the most professional and complete trader I have ever seen in 3/4 years . I would love to learn from you to crush all my goals in life📷 IG: max_berm
Overall reflections on the total #crypto market capitalization:
-Currently in bull market territory, which means accumulating as much as possible on every pullback.
-Still a long way to '21 highs, it's another +80% to the all-time high, with expansive targets lying even further.
-We haven't seen any mainstream FOMO yet (many #altcoins will surpass the $1 billion or even a multiple of that). Demand will surpass supply, inflating valuations and causing FOMO among buyers.
-Big drivers like the BTC halving and spot ETF, set to hit in 2024, will draw in external capital, further fueling the internal flow of money
-The market is still very young, so volatility and unexpected crazy moves are likely to occur.
-The market is still very small (BTC at $800 billion compared to $XAU at $14 trillion).
-Markets expand and contract cyclically; picking the top or bottom isn't important...it never was.
Many traders and investors will experience significant, or even life-changing, financial gains, but only a small portion will materialize those profits.
I often get the question whether our strategy works on other assets. I also often see hostile behavior between traders of these asset classes. TBH there is really no need for that because the answer is simple:
ALL markets respect price action. This is because PA is based on the core foundations that form the market price itself! So, it doesn't matter whether you're trading #crypto, #forex, or #commodities. It will work! Of course, there will be some differences due to volatility factors and available liquidity, but this can be easily fixed with some minor tweaks. The most important thing is that the rules will stay the same.
Over the years, I've backtested our strategy many times in different markets. Lately, I did another run. Applying normal trading rules...nothing fancy, support & resistance, supply & demand, MS, trend, and rotations.
I simulated 10 full trading weeks focusing on forex and commodities pairings on the 1-minute chart.
On average, 34 trades were placed each week.
-22 of them were successful.
-10 got stopped out
-and 2 didn't get filled
The total net profit was 45R (TP, SL, and no-fill corrected)!
The successful trades had an R of 2.71 per trade, and all trades together had a total R of 1.32 per trade.
With this data, I then simulated a full (reasonable) trading year, and IMO, the results were mind-blowing!! (not looking at the end result but growth)
Sentiment is at yearly lows, and most of CT is either absent or embroiled in conflicts, but mark my words...they will inevitably return because, in a bull market, everyone seems like a genius. This is because bull markets tend to mask mistakes.
Also, I made numerous mistakes during my first bull market back in 2016-2017. I was completely overwhelmed (coming from more traditional markets) by the sheer volatility & momentum.
The Money was pouring in during that period, and I achieved some significant gains. However, I also suffered substantial losses in 2018. I often found myself pondering why I had made those foolish mistakes and thinking about the potential profits that I could have earned. Nevertheless, the true lesson was the experience gained, which I could apply in the upcoming bull run.
During the 2020-2021 bull market, we bought #Bitcoin at $3,500 and #Ethereum at $80.
$BTC experienced a 17x increase
$ETH a staggering 58x
So, for every $1,000 invested, you would now have nearly $30,000 with a 70/30 ratio. Jackpot!
These opportunities for generational wealth are aligned with market cycles. The challenge is that these cycles take time & people are inherently impatient by nature.
Most earnings occur in a bear market, where you gradually accumulate assets through trading, compounding, or some form of DCA. Once the entire market starts moving, you simply need to wait patiently for your exit point. Avoid getting shaken out before the real moves occur. Doing nothing can be the most profitable strategy for many individuals, especially non-traders.
So...are you ready for the next bull market?
At the start of my career as a day trader, I struggled to become profitable & consistent. Now, I'm not only financially free, but I've also found much more peace with myself.
Here's how I fixed my lifestyle routine and 6 tips to help you kickstart yours:
The fear of taking risks may be holding you back in life...there's really no reason to be afraid if you take them calculatedly.
You simply will not win if you are not willing to accept the potential loss.