Why am I so bad at trading Jow Forums? How did you guys become good traders who actually make money doing this shit?

All in chainlink

I started trading a month ago, bitcoin only on bitmex. Up 37% ama

Y'all prolly don't remember the thread but it was "I fell for the 'trading is a meme' meme"

you just gotta study indicators... the more you base your decisions on, the better, I use six

Play lots of games. Playing competitive Pokemon probably helped me more than anything, since it involves numbers and managing risk. Also know the fundamentals of trading, read a bunch before you start. Basic stuff like cutting your losses early is super important.

this actually, i used to play a shitton on pokemon showdown. Reached top 10 in mono tier back in gen 5 lmao literally invented the scarfed hydreigon set.

It's easy, buy the dip and sell when it spikes again. It's not day trading though, you will most likely have to wait a few days before it goes up/down again.

You'll get more gains if you put several thousands in it. But that's the risk, right

this

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check'd. You can also enter 1x shorts on bitmex (equivalent of cashing out to fiat, mathematically) if you really just want to daytrade instead.

have you kept track of your risk to profit ratio and winrates? or any sort of trading stats at all?

>Emotion is your enemy.
>Think in percentage, not dollar value.
>Start small and once you become consistent with returns, then move onto big boy dollars.
>Be strict on personal rules.
>Never follow anyone’s advice on trading. Listen to others to determine the climate.
>learn from the past, Understand your mistakes.
>only trade with money you can afford to lose

You’ll get there user. Calm and collective is key.

>Emotion is your enemy.

Most important tip OP. Most of my losses were from FOMO.

If I trade very often I tend to lose money. If I trade once every couple of months I make money, but it's too much worry for too little money.

I now do only buy and HODL. Maybe I'll trade out once my current investments pan out, but that will be once every 3 years or so.

I just created a little script to determine my winrate and rp ratio, currently sitting at a 75% winrate with a risk to profit ratio of 1.0507

Trading shitcoins is my job op- typed out some general thoughts for you (in no particular order);

Don’t overtrade
Have a purpose and goal for every trade
Stick to your plan

It’s not actually hard, what’s hard is that this requires a lot of discipline- I use Binance pro in part to block out/minimize pump and dump type distractions that constantly flash on the right side of the screen in the regular version

You lose money when you are reacting to the market. You make money when you are anticipating the market. Fomo is reactionary and not usually productive

And learn basic ta (1 or 2 indicators and some screen time should work)

Roll all this into a package and you can double your $ or better pretty consistently every month in a bear market.

Bull market is a different animal (talking about crypto only). If you’re quick enough fomo is your friend in bull markets. But until your winning consistently maybe just no fomo in any type of market at all

If you’re impatient (probably my worst quality as a trader) then run 4 or 5 positions at once, once you get good at it. That way you aren’t just waiting around/exiting winning trades too early (if you bought something you did it for a reason right? So just ask yourself whether you’re selling becuase you’re bored, becuase you’ve reached your tolerable loss amount, or becuase the trade met your goal for it (the latter two should be the only times you ever close a trade)

Real talk if you aint good at swing trading then dont. Do research, invest on what you think the best crypto out there and HODL

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