Crypto investor and trader, focusing on neurotrading 🧠and the impact that mindset has on your investing success. Not financial advice.
Joined April 2022
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Being a price action trader give you the chance to time better entries than someone using indicators.
Not taking profits (TP) when you should hurts much more than hitting a stop loss (SL).
TPs are as essential to trading as SLs are!
Trading day today. $GRT looking great, imo. Double bottom and beautiful retest of the neckline.
Watch out for possible Bitcoin correction to, at least, 19.995.
This correction is due to a CME gap formed on the daily chart. Gaps usually tend to be closed in financial markets.
Trading and/or investing success is determined by your deliberate choices, not by luck. It's something you must actively work towards, not passively wait for.
Discipline breeds achievement in high-performance careers. Trading is one such career, you need to be elite.
Keep at it!
When we enter a trade, we are always bringing our personal beliefs into the game.
Don't let them be limiting ones, or they will become your most significant barriers to success.
Don't compare your progress and results to those of others. Your biggest competition is in the mirror in front of you.
Want to be a professional trader?
Take a cue from casinos: focus on obtaining and keeping an advantage through favourable odds, and allow for a large sample size of events by playing the long game.
Be the casino, not the gambler.
To be among the top tier of traders, it is essential to prioritise risk management over the maximisation of profits. This means focusing more on the potential losses you could incur, rather than the potential gains you could make. Do this and be in the top 5% of traders.
One of the biggest mistakes people make with money is not having a budget. Without a plan for your finances, it's easy to overspend and end up in debt. Another common mistake is not saving for the future. Make sure to set aside money for emergencies and long-term goals.
Many of the things we use today were once underestimated - and I believe that's still the case with crypto.
Rather than resisting progress, it's essential to embrace it to fully take advantage of the opportunities that will come.
Whenever I'm told Bitcoin is dead, I smile and remember that Bitcoin alone accounts for $6 billion of daily online transactions, only behind Visa ($30.3 billion) and Mastercard ($16.2 billion).
In the past six decades, an inverted yield curve has preceded every U.S.A. recession.
We are currently seeing the strongest 10-year to 2-year inversion since 1981.
AKA: Uh oh.
With the U.S. going down, the globe is going down.
Regardless of the amount of money you are making from a single trade - be it $1, $100, or $1000 - your sheer ability to earn income through means other than the traditional ones is simply invaluable.
Well done!