Most people think trading is very hard, but trust me, it is not. If you follow the right steps and learn it the right way, you will be profitable very soon. I wish I knew this a year ago. Let’s get right into it.
Step 1. Winning System
Of course, you need to have a winning trading strategy in order to make profit in the market. This actually depends on your Risk Management, we’ll talk about that in the second step. For example, if you trade 10RR trades, you are already profitable with an hitrate of 20%. The best way of finding a winning system is by backtesting old data from the market. You can do this with tradingview’s replay mode. So much people go on youtube searching for: ‘Profitable trading strategy’ or ‘best trading strategy’. That is not gonna work, I’ve done that for months until I found out that backtesting is the real way.
Step 2. Risk Management
People say this is the most important aspect in trading, and I know why they’re saying this. If you’re new to this world and you don’t know what risk management is, I suggest you to search the Risk Management video of Crypto Cred on youtube, he explains it very good. The RR depends on you, when you backtest, you need to see what RR is the best for your system in order to increase your hitrate and your profit.
Step 3. Psychology
This is controlling your emotions. If you are trading you need strict rules. You need to have discipline. You need rules when you are trading. For example, 3 strikes out, If you lost 3 trades in a row, stop trading for the rest of the day and go do something else. I remember when I was a beginner, I lost 3 trades in a row, then I went all in and lost all my money. I learned from my mistakes.
For more content from me I suggest you to follow my twitter @copisy7 and my YouTube channel Copisy! Cheers!
#trading
