Hey guys welcome to second crypto lesson this is a recap of a lot of the most important things that i've learned, so without further ado let's jump right in
1
Trading is not about picking exact lows and tops in a market, its about catching the meat of a move.
2
I think it's a mistake to set daily profit goals, it's better to set long term performance goals, and the reason for that is, you don't control what the market does on any given day, so if you set a goal like 500$ or 1.000$ a day, sure sometimes the market might offer that to you.
Sometimes if you cut off your goal too early when you hit your 1.000$ maybe that could have been 20K or 50K profit , where other days if you try to push for that minimum goal instead of not only hitting that, if you force bad trades you can actually go the opposite way and start to lose money unnecessarily .
3
This lesson is really important for newbies, first learn how to survive and then thrive.
First learn how to not lose money, and then once you learn risk management over the long term you'll actually thrive.
4
If you're looking at a price chart the best thing to look at is price action and volume.
For example this chart with just the price and just the volume is much better and much more effective than this one.
A chart that looks like this.
Where you have a bunch of random indicators, that often times are conflicting and giving you false signals.
A lot of the best traders i know just use price action and volume and then different ways to quantify or measure that price action.
This is the end of Crypto Lessons hope it was helpful and you guys learned something and if you like it please up vote it and let me know what you think about it in the comment section.
Thanks for reading!
