Tips
Additional Tips
If the previous signal reach 400-500% or more in peak profits, there is a high possibility that the next signal will be a weaker one.
Example, this long generated 839% in profit, the next short signal reached only 67%.
For this situations consider:
Not entering the trade.
If you enter, do it with a smaller balance.
Take profit earlier.
2. Same applies vice versa, if the previous signal was a weak one (Less than 50-60% in peak profit) then most likely the next one will be better.
4. Do not enter a trade if it has already reached TP2+.
5. IMPORTANT! Try to avoid signals that do not follow the trend, or enter them with a smaller deposit. If Bitcoin is in a bullish trend, then give preference to longs rather than shorts, and vice versa.
6. Do not try to win back/add more contracts/disable stops/enter again with a larger deposit after an unsuccessful signal. This is called the "tilt" mindset. Being tilted is a person's state of mind that is triggered by overwhelming emotions from winning or losing. A person cannot control the situation when they are tilted and makes risky decisions instead of deliberate ones – as a result, they make many mistakes. Strong emotions that overwhelm the person's mind forces them to act inadequately: to change the style of play to the riskiest one, which may turn out to be a good decision, of course, but leads to a crushing defeat more so than often.
If you find yourself having a "tilted" mind, just take a break and don’t trade for a couple of hours/days/weeks.
7. If a series of signals have already been posted after another Bitcoin drop – for example, for a short, – and most strategies are already in good profit, then any further signals for a short should be avoided, because the correction is most likely already over, and there will be a rebound soon. In other words, it is better to expect opposite signals for a long. The same strategy above applies to a long.
- It is advised to use recommended leverage and risk per trade.
- Design and follow strategies.
Last updated