- A long-term trader drops his pearls of wisdom for successful crypto trading.
- The trader holds 7 years of crypto trading experience and shares his wisdom for free.
- He shares two deep guides on how traders can make gains in the crypto market.
A long-time trader shares his secrets to crypto trading success over the last seven years. In detail,the seasoned trader unveils his simple trading strategy grounded in technical analysis without intricate indicators.
As we can see from the post above, the trader holds 7 years of crypto trading experience. Now, he says he would like to share this knowledge for free. His insightful method has worked very well especially in the past four years. If applied accordingly, the post says, traders can expect to seek consistent returns.
A Guide to Consistent Trading Gains
In particular, the trader marks how important it is to break down the essentials. He says, trading goes beyond the trio of an idea, profit target, and stop-loss. In fact, he says these components alone won’t ensure consistent success.
Instead, the four critical elements for an effective trading strategy include the following. Firstly, the environment, recognizing ranging and trending markets. Secondly, logic, understanding directional cues based on price structure.
Thirdly, risk management, implementing rules for managing trade risk. Lastly, execution, precise execution of entry, exit, and risk management rules. Following that, traders must identify market environments.
This is crucial as markets fluctuate between ranging and trending conditions. Moving averages provide a quick visual indication of these phases, particularly when they cross over during price ranges.
The most important to note are the logical approach, that is the price structure that dictates trade direction. Next, lower highs/lows that favor shorts and higher highs/lows that favor longs. Above all, capitalizing on breakouts or breakdowns from price ranges is key.
Next, traders must put theory into action. After all, trades are built on the premise of continuation following a pivotal level loss. While seemingly simple, trading isn’t easy, and this forms the core concept of the strategy.
Following that, traders must develop essential elements to refine their strategy. This includes being familiar with entry rules. For instance, a certain number of candle closes above/below a key level. Similarly, exit rules risk management rules, and fine-tuning these elements over time.
Finally, to begin, the trader suggests selecting one asset and timeframe, testing with 30 trades, evaluating outcomes, and enhancing their strategies. Keep repeating this process to exercise a steady cycle.
In conclusion, the trader makes it clear that while this overview provides a glimpse, the intricate aspects of testing, risk management, entry/exit rules, and trade management extend beyond the post. Thus, it is important to stay engaged for further insights and in-depth guidance.
He ends his thread by sharing another guide to crypto trading success. In comparison, this guide focuses more on capturing substantial gains for altcoins. All in all, it seems that both guides provide a well-rounded approach to successful trading.
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