Here's the 7 most important lessons every crypto trader must know :-
1. Crafting Your Trading Style
Swing trading requires the utmost patience.
Scalping demands intense focus and rapid execution.
Day trading falls in the middle.
Develop your skills to maximize your success.
2. Formulate a Robust Trading System
Explore and test various concepts:
- SMC/ICT
- Pure price action
- Combination of indicators
- And more.
Develop the optimal system that suits you best, dedicating 100% of your focus to it.
3. Enhance Your Trading Abilities
Consistency = Be present daily
Self-discipline = Adhere to your rules daily
Confidence = Practice daily
A trading system loses its value without effective execution.
4. Adopt a Probabilistic Mindset
1) Trade your system
2) Win/Lose
3) Repeat
Anyone can win on a single day. Anyone can lose on a single day.
Only a select few can sustain wins over 10 years.
5. Errors, Journaling, and Insights
- Utilize mistales to evolve as a more better trader
- Journal trades to learn your errors
- Lessons learned from mistakes serve as your finest instructors
Success within 3-6 months is unattainable
Experience comes at a cost.
6. Strategize Your Trading, Strategize Your Success
Over the course of 30-60 days:
- Concentrate on refining your system
- Always folloe your rules
- Analyze your trades
- Establish and fulfill goals
Repeat this cycle consistently.
Witness your personal growth.
7. Mold Your Mindset
- 90% patience, 10% action
- Your system is your supreme trading tool
- Mistakes, journaling, and lessons fuel the enhancement of your tool
- Thinking in probabilities serves as the key to emotional mastery
Your mindset stands as your most important trading asset.
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