I just want to share this chart with you and some perspective.
If you don't know, I started trading about two years ago. I was profitable for almost all of that time, not because I was good, but because I bought bitcoin below $1,400 and thankfully didn't cock it up too, too hard. That said, I don't think I was any good until about a year and six months in. That's when I started to make posts here.
Being a pretty novice trader, I have a lot to learn, but I have learned much still and always am eager to share what I've learned.
Here is some general advice...
1) Do not use very much money initially, ie don't invest more than you can afford to lose 2) Do not use leverage unless you understand it (you can lose all of your money and more shorting using traditional brokerages) 3) Do not worry about getting rich quick 4) Do learn all you can from better traders (buy their books, listen to their podcasts, follow them on twitter etc.) 5) Do not trade until you have backtested a profitable strategy 6) Do implement the profitable strategy into code
This post is especially dedicated to the last two (mostly 5) which in my opinion will take you from being unprofitable to profitable very quickly...
There is a lot of talk about managing emotions in trading. And, yes that is important, but it doesn't have to be if YOU yourself never trade. If you program a bot to do it for you, you never have to learn this at all really. Granted, you have to learn programming, but the payoff is really high to do so.
Personally, I didn't start with the last two. I really wish I had.
Number 5 is the big one. It's extremely obvious, yet I happen to know that over 90% of traders are not using a profitable strategy they have backtested. Backtesting by the way, is simply testing your strategy against past market conditions.
If you haven't created any SPECIFIC strategies that are profitable, then you need to do that now before you place another trade. I have shared this chart as an example of a strategy that has been extremely profitable over the course of the past two years and would be very easy to implement into code.
The moral of the story or the tl:dr is this:
Don't place trades based on what you THINK will happen, place trades based on a strategy that has a positive expected value.
Thanks for reading,
-YoungShkreli
Komentar
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One thing that trading will teach you is humility. The market simply does not care about your opinion or what you want. You will face humiliation. It has happened to me, it has happened to Ray Dalio. It happens to everyone.
Statistically, drawdown is a guarantee. Learn to get shat on with a shit-eating grin :D
@DanielBela, what does a trader have in common with a dancefloor? You must be a spam bot with a really bad script.
Bull4Life
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@diegofnu, you right 98% win rate say i got bad script...
mate you are nobody...
and you gonna get rekt xD
beacuse ono simple reason
you gonna short the king
and he gonna kill you on the road to 105k xD
short short short !! Shill!!
Bull4Life
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@diegofnu, everything have in common witht he dancefloor
if you think trading is diffrent from surffing/skating/riding/dancing you are idiot
and i will end with this xD
Bull4Life
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@diegofnu, Boom!
i hope you got into some dancing/staking leassons in this time
beacuse this is just the start
UnknownUnicorn4306966
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Worst case scenario for Bitcoin and why..
RealMcafee
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Pharma Bro
BorisPoff
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I think I will take advice of the title literally. There’s no point in what followed it. Platitudes after platitudes.
“One thing that trading will teach you is humility. The market simply does not care about your opinion or what you want” Really? That’s Yoda level only need to swap a few words around.
“Humility you trading will teach. What you want market cares not”. Deep.
CantorTechnologies
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@BorisPoff, Have you created a backtester and automated your strategy? Telling to do that was the main point of this post.
I’m sorry you didn’t like the post. Your comment was pretty funny.
CantorTechnologies
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@youngshkreli, because doing those two things will help you generate a profitable strategy. Which is why we trade.
As I said, most traders are not automated and this is a huge mistake in my eyes.
ibb.co/804nyNs
we are free group we dont need your money
we make out money our self
t.me/tradingwithstyle