7 tips and thoughts on trading you probably have NOT heard before 👇

✒️ @redxbt
1/

You should be ready to trade #bitcoin by

>10am through 12pm UTC
>5pm through 10pm UTC

I've observed these are the most volatile times for BTC— very useful to schedule your trading sessions.
2/

The "initial balance" is one of the best tools to map the market—It is simply the range (high & low) of the first hour of the trading day.

Very powerful tool to identify market bias and set stops or take profit orders.
3/

The illusion of a high Risk/Reward:

Having an extreme risk ratio is a mirage because it is not consistent and can skew your psyche to make more mistakes than usual. So is it really worth it to aim for extreme R/R all the time? No.
4/

Compounding

You may have heard of martingaling, but how about pyramiding?

It's the same concept except you add to your position as it goes your way!

Very safe way of getting ideal size. Think of it as helping the other buyers or sellers push in your direction.
5/

Market environments

Would you wear snow boots to the beach? Perhaps, but in trading this would cost you a lot. Identifying which and when market environments change is key to capital preservation and profitability. Why would you run trending strategies on a choppy market?
6/

Compounding the psyche

Running hot and running bad are not by chance.

The mind will take whatever you give it and will work on it and amplify it. When running bad, traders must do 1 of 2 things:

1) Improve morale
2) Stop trading until morale improves
7/

How to find your edge

1) Identify a pattern in the market
2) Define and categorize this pattern
3) Start betting on this pattern

Iterations and plain odds may void your pattern. This is where discretion comes in to protect against this.
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