Before you enter a crypto trade, there are 5 things you should check.
For newbies, you shouldn't begin with:
“Which coin will 100x?”
Before I go into a trade I do my best to consider:
1️$BTC direction
Is the overall market in a bull or bear market?
2️ Volume
Is there true involvement in the move?
3️ Support & resistance
Where can price "react"?
4️ Risk/Reward
What is the chance of losing and what is the chance of winning?
5️ My emotions
Am I going in there because I was set up… or because everyone else is putting up green candles?
The most important thing that I've learned is:
It's better to miss a trade than to make it a bad trade.
Crypto will provide you with a chance to try again.
You need to have capital that will last long enough to take it.
What would you include in the list?
#tradingpsychology #bitcoin #CryptoTips #BinanceSquare #CryptoTrading
For newbies, you shouldn't begin with:
“Which coin will 100x?”
Before I go into a trade I do my best to consider:
1️$BTC direction
Is the overall market in a bull or bear market?
2️ Volume
Is there true involvement in the move?
3️ Support & resistance
Where can price "react"?
4️ Risk/Reward
What is the chance of losing and what is the chance of winning?
5️ My emotions
Am I going in there because I was set up… or because everyone else is putting up green candles?
The most important thing that I've learned is:
It's better to miss a trade than to make it a bad trade.
Crypto will provide you with a chance to try again.
You need to have capital that will last long enough to take it.
What would you include in the list?
#tradingpsychology #bitcoin #CryptoTips #BinanceSquare #CryptoTrading
