September run summary
Start 01.09
End 30.09
End result: 283% of the original depo.
Developed Strategy so far:
Chart + Fibo + trend lines / channels + Stoch RSI
Determining the scenario on H1, then searching for an entry point on M5
5% depo in a trade if it looks good
10% depo in a trade if I feel in my bones that it will go in the specific direction.
Martingale only once for 100% value of the first position, then a tight SL and looking for a better entry if it stops me.
Stop Loss at 20% position or on a important support / resistance
Leverage used 1:50
PNL minimum 2, ideally around 3.
When entering a trade, I set the first TP for 1/5 value of the trade at 20% of profit, when this order is completed, I move the SL to the entry level and do not touch the position until the final TP or SL.
When I catch a bigger move, I pyramid it by adding 50% of the original position on motion corrections, at the same time selling 25% at more important levels.
My Thoughts:
The psyche is the most important element in your trading! Learning to trade is not a sprint, its a marathon.
I'm well aware that I can losse more than I will earn for the first year or two, although I strongly feel that my logical INTJ personality type combined with 8 years of experience with meditation give me a slight advantage over the market
Creating trade scenarios is key, not entering trades randomly, unless scalping in the channel with precise entry / out and a mandatory tight SL.
Think twice before entering a trade!
Overtrading is completely useless, it is better to trade max 1-2 positions a day.
After each successful trade or more, take a day off and think about what You did right/wrong.
Consciously control your progress - test what works and where your psyche plays games on You, keep a mental diary.
Trading on leverage is working for me far better than trading on alt-coins, the bitmex platform gives a lot more options, I will gradually transfer my funds from binance to bitmex and make up for losses caused by hodling.
The leverage is a dangerous tool, without the SL you can easily loose a lot of money due to frequent market manipulations know as bart formations..
Bitmex Cross option is not for me at the moment, I lost more trades on cross than I won, the exception was when I managed to win a short with 1500% gain from $7400.
I will try to get back to it after a while on a second account.
Plans for October
- make a larger 5x deposit
- further training of my psyche
- learning more about mmd clouds and learning to scalp on them.
- learn to withdraw profits every 2 weeks
End 30.09
End result: 283% of the original depo.
Developed Strategy so far:
Chart + Fibo + trend lines / channels + Stoch RSI
Determining the scenario on H1, then searching for an entry point on M5
5% depo in a trade if it looks good
10% depo in a trade if I feel in my bones that it will go in the specific direction.
Martingale only once for 100% value of the first position, then a tight SL and looking for a better entry if it stops me.
Stop Loss at 20% position or on a important support / resistance
Leverage used 1:50
PNL minimum 2, ideally around 3.
When entering a trade, I set the first TP for 1/5 value of the trade at 20% of profit, when this order is completed, I move the SL to the entry level and do not touch the position until the final TP or SL.
When I catch a bigger move, I pyramid it by adding 50% of the original position on motion corrections, at the same time selling 25% at more important levels.
My Thoughts:
The psyche is the most important element in your trading! Learning to trade is not a sprint, its a marathon.
I'm well aware that I can losse more than I will earn for the first year or two, although I strongly feel that my logical INTJ personality type combined with 8 years of experience with meditation give me a slight advantage over the market
Creating trade scenarios is key, not entering trades randomly, unless scalping in the channel with precise entry / out and a mandatory tight SL.
Think twice before entering a trade!
Overtrading is completely useless, it is better to trade max 1-2 positions a day.
After each successful trade or more, take a day off and think about what You did right/wrong.
Consciously control your progress - test what works and where your psyche plays games on You, keep a mental diary.
Trading on leverage is working for me far better than trading on alt-coins, the bitmex platform gives a lot more options, I will gradually transfer my funds from binance to bitmex and make up for losses caused by hodling.
The leverage is a dangerous tool, without the SL you can easily loose a lot of money due to frequent market manipulations know as bart formations..
Bitmex Cross option is not for me at the moment, I lost more trades on cross than I won, the exception was when I managed to win a short with 1500% gain from $7400.
I will try to get back to it after a while on a second account.
Plans for October
- make a larger 5x deposit
- further training of my psyche
- learning more about mmd clouds and learning to scalp on them.
- learn to withdraw profits every 2 weeks
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