/biz/ - Business & Finance

[Anonymous No.54668571]

When did you realize that the reason the majority of traders lose is because they think trading is supposed to be active and exciting, when in reality it's supposed to be mind-numbingly boring? The people that are constantly looking at the charts and itching to get their money in and out of a trade, are the ones that fuck up because they can't stand sitting and waiting. Also, an anon posted this bit of wisdom here and ever since then I've been trading far better than I ever have. All you need to know is the following:

1.) Support and Resistances have a much higher chance of bouncing or being rejected, than they do being broken.

2.) Trade the support and resistances based on the current trend. If the trend is bullish, long supports. If the trend is bearish, short resistance.

3.) If you think a reversal is coming, trade based on the 1D and 1W, and never use more than 5x. Use a bot to automatically make money off the volatility as you wait for the reversal to happen.

Anons, remember, all you need to do is make 1% a day. Ride your wins and cut short your losses. You can reliably do this until you have six figures. Once you have six figures, stop margin trading. Congrats, you're at the point where you can divide your stack between multiple 10x bets. I hope I've changed some anon's life with this information. For most people, it takes experience to understand this, even after you hear it--because it's not exciting. You want to be part of the hype of the markets, you want to ape in to shit with the crowd, you want to hold to the moon with everyone else, but you need to realize the following:


There are always new opportunities. You do not need to ride the moon mission to the highest possible point. You do not need to bet everything on a single project. All you need to do. Is get in. Get out.

[Anonymous No.54668603]

>>54668571
based

[Anonymous No.54668660]

the only thing in common of all the successful traders is that they reduce their greed by taking partial profits all the time

methods for entry and exit are personal and dont really matter

[Anonymous No.54670580]

>>54668571
Fairly recently to be honest. Most of my trading has been really active and technical driven. Once I started zooming out and looking at the bigger picture and sort of swinging in the general direction and getting off the computer and giving my trades time to play out as well as being more fundamental things turned around for me.