The Amateurs And The Professional Traders

At some point in our life it is better to face the truth once and for all. There is no perfect trading strategy what so ever that will make you not to work during trading. The more you keep looking for trading strategies the more you are using your time for lesser gains. As a new trader, rather than focusing on ready-made trading strategies, it will pay you more if you start to observe the way daily trading goes. Then think of your process and optimize it. Considering all the strategies you have learn so far, how do you use it to your advantage? Figure out how your strategies can bring success to you.

As a beginner you need a journal where you will keep track of all your trades. It is usually the first order of business which will enable you to fully understand and analyze all your trades. In trading, it’s good to know and record your entry point, your stop point, all your loss and you can keep your profit levels as well. You can equally keep track of your trading strategies and whatever that may have motivated you to adopt such strategy. It will not be bad if you describe your feelings for any trade you engage in, if not for anything else, a day will come you will smile after reading it. You can equally go further to write down your likes and dislikes because they are part of your risk management. The main purpose of doing all this is for you to know what worked for you and what you might change to get it better. Once you master this, you will not easily jump into a new strategy that you saw on line and also, you will be able to create your own winning strategies based on your experience.

Constant change in your trading strategies will not allow you to have a better strategy. This is because it takes a long term trade to determine its profit. I hope you will not be discouraged or just change your strategy once you lose money. The cryptocurrency markets always change. There are period it performs well and also when it doesn't. You can’t avoid it in trading.

There are season that trading is on the high side and there are times it’s not. It takes your long analysis to discover that. This equally enables you to strategize depending on your trading frame work. When your trade goes down, do not be in a haste to switch because most a times it becomes profitable again within a short while.

During down time your emotions or feelings may begin to drain you, always try to remember that it is only the value of your trade at that time is what is going down, not the weight of your money okay! So encourage yourself and wait for a while, surly your trade will still come up again, it’s just a matter of time.

Thanks for reading. Please enjoy your time.