Trade Update
First of all, on my profile you have the three previous posts in case you want to see the evolution of the trades made.
In summary: I closed the trades for Solana and ETH with profits (a little over 30 USD in total) and today I finally closed my operation in BTC with a loss of 10 USD. Before opening these operations, my total funds were 835 USD, and currently they are 853 USD.
What do I conclude from all this? That beyond knowing technical analysis (which is not my case, I clarify that I am still in full learning), there are two things that are fundamental:
1. Low leverage. Between 2x and 4x at most, I even dare to say that 4x is already too much. Think that on red Friday, when BTC fell more than 20 thousand USD in a single day, even positions with 5x were liquidated. So my recommendation is to use only 2x or 3x.
2. Patience. If you see my other posts, you will notice that I reached almost 150 USD in losses, and thanks to low leverage and being patient, I was able to not only exit without losses but also with profits. Minimal, I know, but profits at last.
My entries were very bad; had I entered at better prices, I have no doubt that my profits would have exceeded 100 USD without a problem. But we are all here to learn.
I will be posting my next operations here. Thank you!
First of all, on my profile you have the three previous posts in case you want to see the evolution of the trades made.
In summary: I closed the trades for Solana and ETH with profits (a little over 30 USD in total) and today I finally closed my operation in BTC with a loss of 10 USD. Before opening these operations, my total funds were 835 USD, and currently they are 853 USD.
What do I conclude from all this? That beyond knowing technical analysis (which is not my case, I clarify that I am still in full learning), there are two things that are fundamental:
1. Low leverage. Between 2x and 4x at most, I even dare to say that 4x is already too much. Think that on red Friday, when BTC fell more than 20 thousand USD in a single day, even positions with 5x were liquidated. So my recommendation is to use only 2x or 3x.
2. Patience. If you see my other posts, you will notice that I reached almost 150 USD in losses, and thanks to low leverage and being patient, I was able to not only exit without losses but also with profits. Minimal, I know, but profits at last.
My entries were very bad; had I entered at better prices, I have no doubt that my profits would have exceeded 100 USD without a problem. But we are all here to learn.
I will be posting my next operations here. Thank you!