Knowledge of technical analysis and the psychology of crowd behaviour will make you a god in trading. If you want to learn anything in our world, play with a stronger player. Go where the fear is, only there you will gain strength, you will be able to rise to his full height and spread his wings like Atlant.
If you were defeated - go learn and train. If you are defeated, look for an opponent who can potentially defeat you. Development gives you a chance to free yourself from everything.
CONTENTS:
Mistakes of high level traders.
Techniques for dealing with performance errors for high level traders.
This material is a translation of the original article in Russian. Links to the author and the original article can be found at the bottom of the page. The structure of the article is preserved, the photos are presented as links and are taken from the original article as is.
1) Mistakes made by high-level traders.
The strongest faith is the faith in the power of one's wallet.
There is not enough "untouchable reserve" money of real fiat money for life and for various unforeseen life situations.
Not triggered Stop Loss for "technical reasons" exchange when working on margin with leverage.
Trading the entire deposit on one or two exchanges.
Hacking attacks on exchanges, account hacking.
2) Methods for solving high-level traders' mistakes.
No matter how much virtual money you make on the exchange, the profit not cashed in in real goods and services is zero!
20-30% of the deposit - an untouchable reserve. In each allocated amount for a particular coin, have at least 20% reserve money (stabelcoins, USD) in case of unforeseen circumstances (e.g. squeezes, or a significant market correction during force majeure).
Approach the market as a major market player, regardless of the size of your deposit. Stop thinking like a "hamster". You don't need to guess, you need to know and be prepared for any outcome, even in unlikely scenarios.
Diversifying the risks of the trading venue. I have, unfortunately, had a negative experience with this. The amounts are significant, in the six figures.
Do not keep all of your capital on one stock exchange, no matter how reliable you think it is. If you are an experienced trader, you will surely use all Internet security measures correctly, but you are not protected from hacking into exchanges and partial theft of money or complete withdrawal of exchanges with money into the other world, as well as from trivial "squeezing of money" by exchange employees.
When you earn substantial amounts of money, you automatically become under "human control" of exchanges. Exchanges are happy when people lose money, but are upset when someone makes money past their trough.
Do not deposit substantial amounts of money in one go, especially if you trade there infrequently. Put them in in installments and withdraw the profit or coin as well. Do not allow your withdrawals to require manual confirmation by an exchange operator. Be sure to make plenty of small and medium-sized withdrawals to the exchange before making large ones.
If your position is substantial, distribute it among several large liquid exchanges (3-4 exchanges), so as not to attract attention. After all, to continuously make money you must always be trading.
Exchanges are reluctant to give up large amounts of profit, because you bring them little in the real basket, but you want to take real, conditionally not virtual (cryptocurrency, USD) a lot, to be converted into real goods and services later.
Keep part of your accumulated position (30-40%) in cold or hardware crypto wallets.
Bring it to the exchange in portions to sell it on the market when you realise it's time to lock in profits. Take into account liquidity and problems/no problems with withdrawal in info-space on this exchange. Don't take unnecessary risks.
After committing cryptocurrency profits, immediately withdraw the stabelcoins or fiat from the exchange. Then the next big chunk, you can go to another liquid exchange to avoid attracting attention.
Rule of thumb - make a deposit, sell it on the market and withdraw it immediately, and only then the next tranche. The same goes for buying cryptocurrencies for a significant amount.
It is the average buy/sell that matters.
How to protect yourself from unfair exchange trading on margin with leverage. On leveraged margin, work not with 1 account, but with 3-4 cloned trades, so the exchange does not "see" a large amount in 1 account (split position).
Also use multiple Stop Losses in a certain price zone Split Stop Loss, for better triggering if there is a panic breakdown and there is not enough liquidity in the instrument and a large price gap.
Don't play with casino by the casino rules. It is impossible to win in a casino. If you win, it is only to intrigue you and screw you in the future with your own greed and recklessness.
Limit risk trades to a fixed working amount. For risky short-term trades use an allocated amount of less than 10% of the trading depo with a fixed amount.
If there are many losing trades, money is " not added", all losses are covered by working the remaining amount. If there are a lot of profitable trades and the amount becomes larger than the fixed amount planned - the remainder is cashed out or transferred to a less risky strategy.
Strive to increase your profits, but do not forget to cut your losses! Reduced losses will double your profits!
Use less risky trading strategies and methods. Work on highly liquid, less risky assets with less risky strategies and methods. Position trading, pyramiding, working in channels, partial or full price management.
There is a rule of thumb that the bigger your deposit becomes, the less you earn per month as a percentage, but substantially more in real money.
An untouchable reserve of money (USDT, BTC, ETH) when managing the price. When working in channels on assets to have a percentage in "money" of 20 to 40% depending on the direction of movement.
The trader's behavior on the market is a result of his thinking. Who understands the thinking of the majority - will be able to turn it against them. This is not magic. This is the level of intelligence.
Your way of thinking affects your habits, and your habits are basically what makes or loses money.
A large reserve of fiat money for life. Establish an adequate reserve of "Untouchable Fiat Money Reserve" for the total trading depot. This is very important so that you don't have to "pull your money out" during a significant prolonged market correction. As a rule, this is at least 20-30% of your deposit.
Diversification is the key to peace of mind and passing market storms without significant (allowable in % ratio to total deposit) damage.
Don't forget that "big brother" is always "watching" you and sooner or later everything is subject to "confiscation" if you have too much of it.
Materialize your profits not only in real goods and services to you, but also to reliable people with whom you cannot be linked either by kinship or by "contacts".
"Smearing" capital among "outsiders", will save it in a twisted pro-communist society of total control and degradation of intelligence. This only applies to substantial sums.
Everything lends itself to cycles, everything has a beginning and an end, even when it seems something impossible and fantastic.
Accumulate 10-20% (not faith scams) of your total "pure cryptocurrency" depo detached from any identity tie-in, regardless of market pumps/dumps. Take it seriously.
If you are verified on an exchange and withdraw cryptocurrency to your wallet, it's "dirty" because it's easy to identify with your identity. Think about how to 'unlink' cryptocurrency from your identity, it's not necessarily a mixer (it's a trap that will slip over time).
There are other simpler and safer methods, for example through exchanges where no verification is required for trading, pure hardware or cold wallets and logic... When unlinking identity, do not forget about "clean" IP address during "clearing".
The "owners of the market" always know where their employees put their pennies, so that when enough of them come together they can "blow off steam" and annex their property "in the name of the law".
The author of the original article - Spartacus of Macedon
Communication with the author (telegram) - @SpartakMakedonskiu
Link to original article - https://telegra.ph/152v6v66v66v66v66a589k66pa666i6i66i5i55i55pp99p99yuyu152v6v66v66v66v66a589k66pa666i6zz6z5z66zh66zh66l6l33l33l3o33o666n6nnnppzi66-08-10
Link to the author's telegram channel - https://t.me/SpartaBTC777
Article translated by https://www.deepl.com/translator