Just treat trading like a job, where everything is serious. I also realized that without risk management, it is almost impossible to make a profit.
SoItsme
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How do you deal with fear? Probably, like many others, at the beginning of my trading journey, I managed to make $700 in a week; for me, this was a success and it seemed like 'wow, why am I even working a regular job?' But then came the losses -$250 per trade, which gradually worked off, -$450 per trade, and some minor failures! In the end, I am still in profit; I managed to recover a bit in spot trading.
The first lesson I learned is risk management, simply setting stop-losses. Knowing this even before entering the market did not save me; I thought I was in control, but here the market controls everything!
There’s a lingering feeling, and now I’m afraid to enter the market with amounts over $50. What should I do?
Continue trading with small amounts to hone my skills and work on my psychology? I think I will try that.
The second lesson for me: even though you understand with your head what actions need to be taken to avoid losses, until you feel this drawdown in your own skin, you will make thoughtless actions driven by emotions.
The path from 103 dollars to 200 Part 1 Today I traded quite a bit on futures. Mostly, of course, I was in the red, but somehow I managed to restore my balance, although not fully. I am glad I didn't lose more. My mistake was that I was in too much of a hurry, not waiting for a price retracement. And my FOMO played a role in this. Currently, the loss is -3 dollars.
$CFX #CFX/USDT #chatGPT-4 #Trading Based on the provided data and charts, a short-term technical analysis of the CFX (Conflux) cryptocurrency can be made as follows: 1. General information: Current price: $0.1751. 24-hour volume: increased by +10.47%. CFX 24h volume: 195 million. Market capitalization: $788 million.
Short-Term Bitcoin Technical Analysis by ChatGpt (01.10.2024)
$BTC #BTC 1. General price movement: The hourly chart shows a price decline from around USD 66,500 to the current USD 61,792, confirming the current downward trend. 2. Moving Averages (MA): • MA(7) crossed MA(25) from top to bottom, which signals a downtrend. • The current price is also below MA(99), which confirms the weakness of buyers and the presence of bearish sentiment.
$NOT Based on the analysis of the presented charts and metrics for the NOT/USDT token: 1. Trading volumes: • 24-hour volumes are down 5.20%, indicating a decrease in market activity. This decrease in volume suggests that investors may be losing interest or holding positions at current levels.
$SHIB What do you think of him in a short-term position? Is there a chance that after breaking through the 2737 level, it can reach 29, or, if lucky, 30? Again, Shiba is connected with bitcoin, and everything depends on it, but intuition tell me that the Shiba coin will grow#Shiba Share your opinion in the comments