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Aluna Crypto Currency & Trading

Cryptocurrency Trading Tips, Tutorials & Strategy Insights by Alvin Lee (@onemanatatime) | Technical Analysis | Market
Psychology | Crash Cycles | Bitcoin | Altcoins | CFD | Forex | Commodities | Index

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THURSDAY, JUNE 29, 2017 ATOMSIGNAL.COM: CRYPTO

TRADING SIGNAL SERVICE FOR
TRADERS BY TRADERS
An Essential Beginner's Starter-Kit for your Journey into the
Cryptocurrency Jungle that is Bitcoin & Altcoins Trading: Overview,
Markets, Analysis, Emotions, Psychology, Risk & Strategy

Made a windfall during the recent cryptocurrency bull trend?

TRADE COMMODITIES, FOREX &
Thinking of taking out your student loan to invest long term in Bitcoin, Ethereum, or INDEXES WITH BITCOIN
some other alternative cryptocurrency and blockchain technology?

Considering to quit your day job to be a full time cryptocurrency trader?

Before you take an impulsive step that will drastically change your life for better or
worse, take a step back and consider what this actually means, and if you have TRADE BITCOIN DERIVATIVES,
adequately planned for what you're getting yourself into. Are you sure that you are FUTURES & ALTCOINS UP TO 100X
ready to play the hardest game in the world?

LEVERAGED BITCOIN & LITECOIN

MARGIN TRADING

SECURE YOUR CRYPTOCURRENCY

WITH A TREZOR HARDWARE
WALLET TODAY!

Follow CAPITALIZE ON NEW COIN

Alvin Lee #UASF LAUNCHES WITH CRYPTOPIA
ALTCOIN EXCHANGE
@onemanatatime

Before you actually take out that loan, or submit your resignation
letter, know that most professional traders spend first 3-7 years
losing.
6:17 AM - 17 Jun 2017

136 282 TRADE GLOBAL MONEY MARKETS

WITH BITCOIN

(credits to @Trader_Dante for this piece)

Introduction

Whether you're new to this whole trading game, or if you have some experience
trading traditional markets but feel like crypto "is a totally different animal", this post is
for you!
for you!
OKCOIN 20X LEVERAGE BTC
FUTURES EXCHANGE
If you're just like most new traders, you might not even understand what a "pip" is, or
have no clue where to get started in reading and interpreting charts & candlesticks,
and everything may look very foreign, daunting and overwhelming at first sight, but fret
not!

Cryptocurrency trading is no different from trading traditional markets, and in fact

provides a more level playing field with relatively less "smart money" in the game
today, and if I may say, "easier" to learn too. Whether or not you have any prior trading TRADE GLOBAL MARKETS WHILE
experience, this blog post aims to provide you with a starter-pack of essential MAINTAINING YOUR BITCOIN
knowledge and resources to help you learn trading, and to present a framework with BALANCE
which you can approach trading cryptocurrencies and the global markets at large.

Trading and the world of Bitcoin and Altcoins may seem like trying to navigate through
a dense jungle at first, but once you learn how to read your compass, have the right
lenses on with which to view the markets through, and with the right attitude and
propensity to keep trying & improving, you will quickly be able to develop an eye for the
market and chart patterns, and begin to make sense of it all. Follow this
blog

Indeed it is fact that most professional traders start their career by losing for the first 3,
5 or even 7 years. On the flip side, I assure you that this is no rocket science. With the
right strategy, proper risk management and discipline, anyone can make trading
profitable, even you! So let's get down to it...

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June (1)
@chatwithtraders Perfect starter kit & trading intro. An Essential Beginner's Starter-
Day, swing, or position trader? Kit for your Journ...
TA vs FA, Emotions, Strategy, & more!youtu.be/Rf9BEgiFsow
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8:06 AM - 16 Jun 2017 February (1)

5 22 2016 (2)
2015 (2)
2014 (5)

What is a Market? 2013 (18)

No matter how you look at it, you became a trader the first day you bought your first
FOLLOW MY LATEST CHART
Bitcoin, Ethereum, or altcoin, from someone else. Whether you're trading as a hobby, PREDICTIONS
want to make this your full-time career, or simply just dipping your toes into the world of
blockchains and cryptographic currencies, I believe it is prudent for you to at least arm
yourself with basic trading techniques and price analysis frameworks, since trading is
an integral aspect of owning cryptocurrencies that you cannot avoid whether you like it
or not.

Before we get into the tutorial proper, let's start off by looking at the markets and
trading from a more abstract perspective.

What's the one thing in common between all traded markets, be it stocks, bonds,
commodities, or even cryptocurrencies? You may have guessed it, it's none other than
the human beings trading it, and it is the emotions of these people that drive prices in MY FAVOURITE CRYPTO BLOGS
the market. By this logic, we can argue that price is the collective representation of Max Keiser: Follow The Money
human emotions, and hence emotions and psychology are a critical puzzle piece and Buy Gold Near $1,200 As
first step to understanding the rules of the game. Insurance Swiss Bank
3 hours ago

Blog Of Chris Dunn

Stephen Burns Follow Should You Trade Bitcoin Or Just
@SJosephBurns Buy & Hold?
1 week ago
New trader steps:
Altoidnerd
2 simple oak shelves, 4 feet long,
#1 Don't blow up your account
total cost: $79.50 DIY
8 months ago
#2 Small draw downs

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Bitcoin & Altcoins Trading:
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#5 Compound returns the Moon! Tutorial of
Trading Strategy Insights, Fundamental
9:05 AM - 18 Jun 2017
Analysis, Technical Analysis
44 157 Frameworks & Tools.
Have no prior experience, but want to
learn the ropes of trading markets?
Bought some bitcoins and not sure
what to do with it? You'...
Making Your Own Trader
How to Pick & Trade the
We all have different styles, from the clothes we wear, to the time we sleep and wake, Next Profitable Altcoin: An
to the type of diets we have. Similarly with trading, we all have different risk appetite Insight into What Goes
and propensity, schedules, preferences, portfolio size, and it essential for someone Through my Mind
getting into trading to first figure out what type of trader you are, to form your own Congratulations on owning
some Bitcoins and being a part of this
unique understanding of the market, your own perception of how to analyze the
Global Revolution! If you don't already
market, and your own framework on how to approach the market. own one, buy one easily from ...

With that said, though there are many different parameters you can tweak to develop A Beginners Guide to
your own style, there are several over-arching factors that you need to take care of Margin Trading on Bitfinex:
regardless of your strategy or style, and the path that you have taken. Why you Shouldn't be
Trading on Exchanges
The rest of this post will cover these key concepts, to give you a baseline for devising So I've been talking a lot
about Bitfinex recently, since I started
your own approach to trading cryptocurrencies like Bitcoin, Ethereum, Zcash, that you
using it about 2 weeks ago. Up until
can bring along with you everywhere and trade any kind of market all the same. now, I've been using a var...

How to Develop a
Understanding Yourself - What Type of Trader Are You? Profitable Bitcoin &
Altcoins Daytrading
To begin, let's start with the simple yet effective 5W1H (except the 'when', which isn't Strategy - Fundamental &
all that relevant here) questioning technique, and dig in to understand ourselves better. Technical Analysis - An
Intermediate Tutorial
Fundamental Analysis I believe that for
First and foremost, WHY do you trade and WHAT do you want to achieve?
an Altcoin to be worth anything at all, it
MUST first have technical aspects
Do you want to achieve financial freedom? Make some side income? Have an interest which are built wit...
in the technology and wish to invest in it for the long term? Or do you wish to travel the
world without being bound to a desk-job? Embarking on my Bitcoin
Trading Journey: Learn
Whatever the reason, make it clear to yourself and seek the advice and support of your Basic Technical Analysis
family and friends. My Trading Experience I
first dabbled with Trading
and Technical Analysis back in
WHO are you? WHEN can you trade? November 2012, when I first got into
Forex Trading. Bac...
Do you work a 9-5 job or are you a freelancer? Do you wake up at sunrise and go to
bed at sundown, or are you a night owl? What is your schedule like? Do you have a Paradigm Shift: Technical
family and kids, or are you single? Are you studying, or working? Analysis in the Altcoins &
Bitcoin Market, &
Introduction to Market
I'm sure you already know all this about yourself, but have you also considered these Cycle, Structure &
I'm sure you already know all this about yourself, but have you also considered these
factors in developing your trading style? Manipulation
Remember this? I bet the first time you
saw it in December you laughed this
WHAT type of trader are you?
picture off, but it's okay so did I. And if
this is the fir...
Only after figuring out the why, what, who, and when of your trading, can you be able
to tailor your strategy to suit your circumstances.
ABOUT ME
Are you a day trader, swing trader, or position trader? If you're working a full-time job Alvin Lee
and can't babysit your positions throughout the day, don't attempt to be a day trader Follow 0
trading 15m candles but focus on higher timeframes such as 6h, 12h or 1d candle
charts instead! View my complete profile

And the million dollar question, HOW can you devise a profitable trading strategy,
suited to who you are, to achieve your goals and live your dreams? Unfortunately,
there's no straight answer here, and anyone who tells you otherwise is lying or out to
cheat your money. The answer lies in you, to understand yourself, your needs and your
goals, in order to create your own unique strategy. But that's not all...

The art of trading is a simple yet seemingly complex task of putting together all the
available bits and pieces of information to form a complete picture, in a world of
incomplete information. On top of that, it involves 100s if not 1000s of hours of testing
setups and strategies, finding your own way to make sense of it all, gaming
probabilities, creating a plan and diligently following it, and most importantly, controlling
your emotions and learning to apply proper risk management.

Nobody said it was easy, but if you are ready to play the hardest game in the world, I'll
try my best to hone you in the basics of the art of trading and to get you started on this
adventure.

For a primer on what to look out for as a beginner trader, spend some time to listen to
this podcast where Jerry Robinson shares his journey, experience, and growth as a
trader, and covers a wide range of diverse topics perfect for beginners, from the
importance of having and following a trading plan/system, to the difference between
the types of trading styles, to technical and fundamental analysis, emotions, the use of
stop losses, and more.

YouTube @YouTube

Alvin Lee #UASF Follow

@onemanatatime

@chatwithtraders Perfect starter kit & trading intro.

Day, swing, or position trader?
TA vs FA, Emotions, Strategy, & more!youtu.be/Rf9BEgiFsow
@FTMdaily
8:06 AM - 16 Jun 2017
5 22

How Do You Trade?

Analyzing markets can involve the use of one of or a combination of numerous

methods, such as fundamental analysis, technical analysis, quantitative analysis,
based on retail order flow, based on news, or by following other people's tips or "insider
based on retail order flow, based on news, or by following other people's tips or "insider
information".

Should be obvious but I'll just emphasize anyway, you should NOT be entering a trade
based on a gut feeling, or on a coin toss, or worse still based on a "hot tip" from your
uncle, colleague, or something you heard on the TV.

Everyone has their own unique style, and the hard truth is that while some of them
work, most don't.

Moving forward, we'll break down trading into somewhat modular components and look
at what determines a good trade, how you can start winning and be a profitable trader,
look at some of the things you can do to avoid the trap of trading based off hot tips,
and provide you with the necessary skills and knowledge to approach trading and
conduct yourself in the market.

What Determines a "Good Trade"?

1. Trend is your friend

Generally, you should only take trades in the direction of the trend. i.e. only long / buy
in a bull market and never try to short it until the trend has shown to reversed.

2. Price

What is price? Price is the representation of a value that market participants are willing
to pay for a stock or commodity. (Read: Cost vs Price vs Worth vs Value)

Price should always be taken relative to something else. You are probably familiar with
the BTC/USD pair, which represents the value of BTC in terms of USD, as well as the
pairs with other fiat currencies. However, do not limit your perception, since price is

relative, we can value BTC in terms of other commodities, such as gold (TradingView:
BTC/Gold), or even big macs (Bitcoin Purchasing Power Index).

Lastly, 'cheap' and 'expensive' are relative terms. A coin should not be seen as cheap
just because it costs 1 satoshi, compared to Bitcoin for example that costs over $2000.
Price should be analyzed in relation to it's market cap (supply * price), as well as the
perceived value of the company, commodity, or cryptocurrency.

3. Timing

Market timing is an often overlooked yet hugely critical component of a good trade. As
some traders would say, "when it comes to trading, timing is everything."

There's no 'good' price without a 'good' timing. You can buy at a 'high' price but at a
'perfect' timing and it'll be a good trade, but if your timing is 'bad', your 'good' price
could quickly go against you and end up being a 'bad' or losing trade.

Here's a couple of articles for you to further digest the concept and importance of
market timing in trading:
Investopedia: Trading is Timing
Why Stock Market Timing Really Works In Any World Market
The Importance of Market Timing

4. Don't chase the market!

To chase or not to chase, that is the question. Well, not really. It is a no brainer to know
that chasing price is a sure way to increase your risk, decrease your profit potential
and, in time, probably blow your account.

Here are 20 points to always keep in mind about the markets, trends, and prices, to
remind yourself not to chase prices: Trading Success - How To Avoid Chasing Stocks.

How To Win At Trading?

How To Win At Trading?

If you made some good profits during this recent bull run, now is the perfect time you
learn to keep it, and fast.

ant Follow
@ThisIsNuse

Not about how much you make.

It's about how much you keep.

2:02 AM - 22 Jun 2017
37 183

What most new traders might find perplexing at first is that you don't have to win >50%
of your trades to be profitable. There is an important concept called "risk-reward ratio"
in trading, that can make you a profitable trader even if only 25% of your trades are
winners, by taking only trades with rewards that outweigh the risks by >3x. i.e. you can
make 3 losing trades at a loss of $1 each, only make 1 winning trade with a profit of $3,
and still end up breaking even.

So back to the question, how can we win? Perhaps to answer this question, we might
get some clues by studying how people lose. People lose in two ways, by being
impatient and getting into trades at the wrong time, or by being patient at the wrong
time and holding on to a losing trade longer than they should. Don't be that guy.

Aluna Cryptocurrency Follow

@AlunaCrypto

The elements of good trading are:

(1) cutting losses,
(2) cutting losses, and
(3) cutting losses.
6:55 AM - 20 May 2017
6 22

Cut Your Losses Short and Let Your Winners Run

One of the most enduring sayings on Wall Street is "cut your losses short and let your
winners run." Sage advice, but many investors still appear to do the opposite, selling
stocks after a small gain only to watch them head higher, or holding a stock with a
small loss, only to see it worsen.
(Source: The Art Of Cutting Your Losses)

It may be a little counter-intuitive at first, but the path to winning lies simply in
managing your losses. As the saying goes, "take care of your losses and your profits
managing your losses. As the saying goes, "take care of your losses and your profits
will take care of itself".

Articles on this topic:

Trading Strategy 101 Cut Losses Short, Let Profits Run On
Quora: How do I implement "Cut your losses and let your profits run"?
Loss Aversion Cut Losses Short & Let Winners Run

Using Stop Losses

For most professional traders, stop-losses are an integral part of any trading system,
especially as you start to automate strategies. Be it the scalper looking to buy a high
momentum breakout, or a position trader getting in at the accumulation phase,
professional traders plan their exits (both take-profit, and stop-loss levels) before even
entering a position.

The benefits of having a stop loss include:

Preventing you from blowing up your trading account
Limiting your losses
Living to fight another day

However, in crypto, and especially in the less mature markets, you may find it close to
impossible in low liquidity markets to use stop-losses without running the risk of losing
your entire accumulated position due to one careless wick. It is still advisable to use
stop-losses especially when swing or day trading more liquid markets (e.g. 1000 btc
daily volume or more), or at least have a plan and perhaps alerts set up to tell you
when you should get out of your trade if you don't physically have a stop-loss order in
place. Knowing exactly where to place your stop loss will take time & practice to hone,
and there's no better way to learn than to actually get trading.

Regardless, the concept of booking profits by moving stop-losses up, like a trailing
stop-loss, should always be exercised to protect your profits during big trends and at
the same time keep your draw-downs low.

Some readings on this topic:

Lock In Profits With Trailing Stop-Losses
How to Set a Trailing Stop Loss Order to Protect Your Profits and Ride Big
Trends
How to Place Stop Losses and Take Profits Using a Maximal Strategy

Analysis Methods

If trading is new to you, something basic like reading the chart might be a little

confusing at first. However like I said, this is no rocket science. Learn more about the
basics of reading a chart, meaning of trading terms, and other technical analysis tools
and patterns to help in your analysis, with resources such as my other blog
posts, investopedia.com or babypips.com.

Trading analysis methods usually fall into two distinct categories; Technical Analysis
(TA) or Fundamental Analysis (FA). You can find out more about the differences
between fundamental and technical analysis by reading this Investopedia
article here and this writeup on diffen.com.

Fundamental Analysis refers to the study of the merits of the company behind a stock,
typically by looking at a company's earnings, earnings per share, revenue, profit,
growth, return on equity, and etc. Or in the case of cryptocurrencies, FA would include
factors such as the project's technology and product, the strength of the development
team, support from the community, and etc.

Technical Analysis, on the other hand, involves the study of price action, looking for
structure, cycles, patterns and setups based on price data and probabilities. TA is more
of an art than a science. It is a science in that there are probabilities and quantitative
of an art than a science. It is a science in that there are probabilities and quantitative
data to analyze, but with people involved, it becomes a social science. As pointed out
above, markets are traded by people, and people are irrational. Though chart patterns
have probabilities of success and failure, it is ultimately decided by the market's
participants and governed by their emotions, and hence TA is unable to 'predict' the
precise price or timing of a move due to the multitude of factors that affect each other
in a web, and where the action of one man can change everything.

Aluna Cryptocurrency Follow

@AlunaCrypto

"To be a good trader, u need to trade w ur eyes open, recognize

real trends & turn, & not waste time/energy on regrets & wishful
thinking."
10:02 AM - 27 Apr 2017
25 46

Most traders use a combination of both, in some manner not very different from this:
Use FA to sort out the stocks that you'll actually put money into, while using TA
predominantly to find entry point, to filter the stocks picked by FA, figure out which one
is the right one to enter, right now. You may have a universe of great stocks, but
knowing WHEN to buy them, is the key if you're a trader.

Although FA gives you an idea of which stock is a good buy, it gives zero clue on the
timing of entry for the trade. It is prudent to note that not only does FA not consider
stop losses, it tends to go completely against stop loss strategies by encouraging one
to add to a losing position, when price decreases while the fundamentals (e.g. P/E
ratio) of the company remains the same. Whereas for TA, the concept of stop-losses
and cutting losses short is imbued into most all strategies, and as mentioned is a key
to preventing you from blowing your accounts.

YouTube @YouTube

Alvin Lee #UASF Follow

@onemanatatime

Fantastic (audio) book for beginners about how to approach

 Fantastic (audio) book for beginners about how to approach
trading and technical analysis.

MUST (LISTEN) READ!youtu.be/IZVkfnftPBw

10:11 PM - 29 May 2017
53 198

Trading Strategy, Plan and Ruleset

According to Wikipedia, a trading strategy is a fixed plan that is designed to achieve a

profitable return by going long or short in markets.

Would you drive a car on the road without understanding the road rules? I'm guessing
you probably wouldn't, unless you wanted to dramatically increase the chances of a
crash. So why is it that we still see so many new traders, rushing into the markets with
no trading rules in place? Laziness, ignorance? Who knows, but one thing is certain...
if you trade without any rule based trading strategies in place, then you are positioning
yourself for disaster.

It may be difficult to even know where to start at first, and it will take some time looking
at charts, trying out various indicators, before you can get some idea of what may or
may not work. From there, find some potentially profitable setups, and add parameters
to your ruleset for entering and exiting a position.

Besides the technical ruleset for the execution of trades itself, you should also seek to
incorporate portfolio management considerations into your strategy. This could include
things like your goals, a plan to manage risk, trade size, maintaining a trade journal, or
even an exercise or diet regime to keep your mind sharp.

By fixing your trading plan before taking any positions, and strictly following your plan
and the rules you set in place, you should be able to better handle your emotions, as
you trade based on quantifiable targets instead of relying on guesswork and being lost
without any predetermined targets or exit plan.

Rayner Teo Follow

@Rayner_Teo

Stop focusing on the perfect entry.

Instead, FOCUS ON:

Risk management
Trade management
Position sizing
Emotional control
Exits
10:35 AM - 27 Jun 2017

31 75

There's a reason why 3 out of 5 of these relate to managing your losses and risk, and
we'll explain that in greater detail later. Here's some readings about forming a trading
plan and how to go about creating rules for your trading strategy:

Trading System Rules Core Trend Following Rules

5 Things You Need To Know About Rule Based Trading Strategies
10 Steps To Building A Winning Trading Plan
 YouTube @YouTube

Alvin Lee #UASF Follow

@onemanatatime

@chatwithtraders Another fantastic podcast with @basso_tom

about trader psychology, trend following, rulesets processes &
automation:youtu.be/tlzOsbpIbgg
10:05 PM - 15 Jun 2017
6 19

Emotions & Trader Psychology

You may have heard the saying, that when your neighbour (or mother) starts buying,
you know it's almost time to sell. This is true because trading is a zero-sum game,
meaning that for every seller there is a buyer, for every winner there is a loser. In
addition, information is more valuable the less people have it. The idea is that if "dumb
money", or the mom-and-pop investor, is buying and yell that it is going to be the next
best thing and will make him rich, it should be time for you to sell.

Again, such emotional tells work in a market, based on our assumption that human
emotions and trader psychology are drivers of prices, and critical components or
puzzle pieces in understanding how this game works. Other than your neighbour or
mom buying, other tell-tale signs include even things like tattoos.

Tuur Demeester Follow

@TuurDemeester

@onemanatatime Remember this one? Posted 2 days after the

Bitcoin ATH of $1,163 in 2013. Imo tattoos like this are a pretty
good indicator of exuberance.
5:10 AM - 26 Jun 2017
10 41
 Alvin Lee #UASF Follow
@onemanatatime

Ethereum is not a bubble. Etherium is not a bubble. Eterium is

not a bubble. Etheriem is not a bubble. Ehtireum is not a bubble.
10:56 AM - 25 Jun 2017
81 255

When people start getting overconfident or complacent, to the point where they get so
deeply and emotionally attached to the stock/coin, you should take a step back and
realize that euphoria is kicking in and the top may be near or already in. Examples
would be people talking about buying lambos, mansions, yachts, or calling the
investment a "store of value", "long term investment" after a 10x rise in price, or saying
things like "i just need to hold for 1 year and i'll be rich".

Alvin Lee #UASF Follow

@onemanatatime

Nothing says sell more than this. $XRP

3:45 AM - 21 May 2017
7 55
 "I think ripple is becoming a store of value"

Contrarian investing is epitomized by Baron Rothchild's quote, "the time to buy is when
there's blood in the streets." The name of the game here, keeping the emotional crash
cycle in mind, would be to buy the fear, and sell the greed. Burn this chart into your
mind, because it is the single most important concept you need to know about markets

and trends, in order to get the big picture and make sense of it all.

Aluna Cryptocurrency Follow

@AlunaCrypto

"Bull markets are born on pessimism, grow on skepticism,

mature on optimism, and die on euphoria."
8:54 AM - 25 Apr 2017
20 51

Watch the video below by @cryptopicasso who explains succinctly why and how this
cycle is relevant to all of trading. If you like the video, you can subscribe to his webinar
tutorial package for 0.5 BTC. Make sure to mention that you were referred by
@onemanatatime, to enjoy $100 off your subscription fee.

$Picasso Follow
@cryptopicasso

So who wants a glimpse of how to trade these coins ?

Enjoy!!#bitcoin #altcoin #cryptocurrency #ripple #ethereum
recordings.join.me/lGMc9vH-M0mMZR
8:20 AM - 20 May 2017
40 187
 Alvin Lee #UASF @onemanatatime 20 May
Barely 10 mins in and really loving this so far. Kudos to
@cryptopicasso for sharing this gem! #Cryptocurrency
#Trading #CrashCycle twitter.com/cryptopicasso/

$Picasso Follow
@cryptopicasso

@onemanatatime Thx guys Enjoy !

took me 8 yrs to put these puzzle pieces together
To understand how to win you need to understand loss and mrkt
structure
10:07 AM - 20 May 2017
1 20

Alvin Lee #UASF @onemanatatime 20 May

@cryptopicasso This is the only strategy/framework that I
think actually works in the market.
Without understanding the cycle, one's merely driving blind.

$Picasso Follow
@cryptopicasso

@onemanatatime Understanding this is the ONLY way i have

ever made money in the markets without pure luck
10:12 AM - 20 May 2017
1 11

To delve deep into trader psychology, listen to this interview with Mark Douglas, author
of "Trading in the Zone", where he discusses trading psychology and risk
management, as well as another podcast, How to master trading psychology with Brett
Steenbarger by @chatwithtraders.

Mark Douglas - MIND OVER MARKET (Full length Interview)

Mark Douglas - MIND OVER MARKET (Full length Interview)

How to master trading psychology | Brett Steenbarger

 How to master trading psychology | Brett Steenbarger

How to master trading psychology | Brett Steenbarger

Risk & Trade Size Management

Risk Management is undoubtedly the #1 most underrated trading philosophy, and also
the most disregarded by new traders, who incidentally continue to blow up their
accounts until they fix this.

You can have the best strategy with insanely high gains, but if you are risking 20% or
50% on every trade, or if you cannot keep your draw-downs low, it is a risk
management disaster and is not a good trading strategy! As a guide, in traditional
markets, profitable ETFs and hedge funds look for draw-downs of no more than 7-10%
per month, averaging about 10-20% or more profits per year.

Rule number one of trading is you want to let your winners run, and cut your losses
short. And back to our earlier point that if you manage your losses, your profits will take
care of themselves. Sure, crypto is a different animal altogether, and your profits could
be in the 100s or 1000s of %, but if you don't cut your losses to aggressively protect
your bottom line and drawdowns, it'll only be a matter of time before you blow your
account.

In terms of trade size management - never go all in on one trade! Set rules so that you
risk only 2% (or 5%, or 10%, or more depending on your risk appetite) of your portfolio
in a single trade. And lastly, don't overtrade!

Peter Brandt Follow

@PeterLBrandt

"Major mistake made by novice traders is their bet size is too

large -- often they risk 5%, 10% or more of capital on an
individual trade."
1:47 PM - 27 Jun 2017

43 126

Rayner Teo Follow

@Rayner_Teo

If you manage your risk, your profits will take care of itself.

If you don't, your parents will take care of you.

1:00 AM - 16 Jun 2017

4 10

Some platforms offer up to 100x or even 500x leverage. With margin trading, small
moves in price in the wrong direction can wipe you account (Read: Margin Call) if
you're overleveraged or trading too big a position than you can afford.
you're overleveraged or trading too big a position than you can afford.

Friendly piece of advice, don't use more than 10x leverage, or even 3x for that matter,
especially if you are not familiar with Margin Trading!

Your Attitude

Your attitude is everything, not just in trading, but also in life. So let me just leave you
with a couple of last points and my personal thoughts about the attitude of a good
trader:

1. Don't think you're better than anyone else, or that you know it all. Be humble!

YouTube @YouTube

Alvin Lee #UASF Follow

@onemanatatime

Making money in bull trend is easiest part of trading. Humble

yourself, learn from the legend himself
@PeterLBrandt.youtu.be/4nKbbPttCa4
9:48 PM - 7 Jun 2017
5 42

2. Be open to new ideas that may not necessarily agree with yours. Be objective with
all kinds of information, remove bias and emotions when analyzing a chart.

Aluna Cryptocurrency Follow

@AlunaCrypto

"A true genius admits that he/she knows nothing."

 "A true genius admits that he/she knows nothing."

- Albert Einstein
3:07 AM - 25 May 2017
16 35

3. Must have a passion to learn and to improve yourself.

Alvin Lee #UASF Follow

@onemanatatime

@PeterLBrandt Excellent podcasts for listening on your

commute to and from work, about everything
[email protected]/channel/UCdnzT
9:55 PM - 7 Jun 2017

Chat With Traders

Weekly interviews with winning traders,
hosted by Aaron Fifield.
youtube.com

4 39

4. Never give up!

I hope this post has given you the essential knowledge to find your way around in this
cryptocurrency trading jungle, and has provided you with some practical insight into
starting your own trading journey, and how to go about approaching trading and
analyzing markets. Will go in depth into technical analysis in one of my next posts, but
for now, let me just leave you with this...

The name of the game is survival -- STAY ALIVE!

Posted by Alvin Lee at 11:51 AM

+1 Recommend this on Google

Labels: altcoins, analysis, bitcoin, cryptocurrency, emotions, fundamental, market,

market cycle, price action, psychology, risk management, stop loss, strategy, technical,
trader, trading, trading rules

4 comments:
4 comments:

Crypto Goma June 30, 2017 at 8:51 PM

Awesome post... It's indeed a starter kit for beginners who want to start trading
cryptocurrencies. It is also important for beginners to avoid over trading and
patience is the key always plan your trade before pulling the trigger. top
alternatives to blockchain bitcoin wallet
Reply

THE MASTER July 1, 2017 at 4:31 AM

Thank you!
Reply

Anonymous July 2, 2017 at 10:18 PM

Great post, learned a lot ! Thanks
Reply

My Forex Signal July 5, 2017 at 3:53 PM

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