Before you click LONG or SHORT, you should already know exactly what you are risking and why you are entering.
Here are my 7 steps before taking any crypto day trade:
1️⃣ Check the market trend. Is the market bullish, bearish, or ranging? Don't trade without understanding the bigger picture.
2️⃣ Find your setup Wait for your strategy to give you a clear entry. No setup = no trade.
3️⃣ Define your entry Know exactly where you want to enter. Don't chase the price because a candle is moving fast.
4️⃣ Set your stop loss Before entering, know where your trade idea becomes invalid. A stop loss helps define your maximum risk.
5️⃣ Calculate your position size Don't choose your position size based on how much you want to make. Calculate it based on how much you are willing to lose.
6️⃣ Check your risk-to-reward If the setup doesn't offer enough potential reward compared with the risk, skip the trade. For example, I prefer looking for setups around 1:3 risk-to-reward.
7️⃣ Check your mindset Are you calm and following your plan—or are you trying to recover a previous loss? If emotions are controlling the decision, don't trade. #askanda #crypto #DayTradingTips
Becoming a profitable trader isn’t about finding a magical strategy. It’s about building the habits that keep you consistent.
Here are 5 reasons you can become profitable:
1️⃣ You Follow One Strategy Stop jumping from strategy to strategy. Master one setup and learn when to trade it—and when to stay out.
2️⃣ You Control Your Risk A great trader knows that protecting capital comes first. Risk small, use a stop loss, and never let one trade destroy your account.
3️⃣ You Stop Overtrading More trades don’t mean more profits. Sometimes the best trade is no trade. Wait for your setup.
4️⃣ You Keep a Trading Journal Every trade is a lesson. Record your entry, exit, emotions, mistakes, and results. Your journal shows you what is actually working.
5️⃣ You Stay Consistent Profitability comes from repeating a good process over and over—not from making money every single day.
Remember: You don't need to win every trade. You need to manage your losses, follow your strategy, and stay disciplined long enough for your edge to work.
Some people usually stop after few loses. A professional trader ask what can learn from this On to the next day. Some people when they loss, they are looking for someone to blame To get what you want, you must pay the price. It will happen #Askanda #crypto #daytrading