Frederic's Crypto Journey

Just wanted to share this....

I started taking the MBA course in February. I spend 199 USD on myself. Educating myself. Investing in myself. Education is for life :)

It took me about a month to go through the basic classes and finally took my first trade in March.

I decided to put only 100 USD in the market.

Today my balance is 541 USD. Ask me how I did it if this interests you.

You don't need a lot of money to start.

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Earlier I posted in trading we either win or we learn from our mistakes.

So how do we learn?

Here I want illustrate the importance of tracking your trades in a journal.

As you can see red are my loses (mistakes) and green are my winners.

One of my mistakes was trading with too high leverage (Shown in the Coin Pairing ) and I kept loosing. So I changed my strategy and now I am trading with a max of 10x leverage.

And it seems to be working :) Out of my last 13 trades only 3 loses. I think I will keep this strategy:)

Great thing about trading is you can do it anywhere and anytime :) Although I should be having a beer somewhere on this Saturday night....lol

Either we win, or we learn.

Here are some of the 10 Most Common Trading Mistakes To Avoid :

1. Not Having A Trading Plan
- Most beginner traders will usually jump from one strategy to another every other week. You'll be a jack of all trades but master of none. You need a proven plan, commitment, and discipline if you intend to become a successful trader.

2.Not Following The Trading Plan
- Loss or not, if you followed your trading plan today, you did the right thing.

3.Impatience
- The Market is a device which transfers money from the impatient to the patient. Everything starts with patience. As a trader, you need to have the ability to sit and do nothing.

4. Overtrading
- Overtrading goes hand in hand with impatience.
If you don't have a setup, do not trade. Don't makeup trades just because you have a trigger finger.

5.Giving Into Emotions
- It would be best if you had an emotion-free mind when trading. If you can't control your emotions, you can't control your money.

6.Risking To Much
- You can never know the outcome of a trade in advance, no matter how good it looks. Every trade is unique. Therefore, only risk a specific amount of your capital on your trading account on each trade.
Risk management is essential in trading.

7.Giving Up
- Don't be afraid of making trading mistakes. Mistakes are proof that you are trying. We all make mistakes, make exceptions to rules, and sometimes take losses we regret. Profitable traders know that the best strategy is knowing themselves, and there are lessons we can learn from the setback.
That's why journaling and reviewing your trading is crucial if you want to become a better trader.
You often find your best learning lessons on how to improve from your losses.
Therefore, journaling every trade and reviewing them is something you should start doing today.
And keep trading.

8. Not Letting Profits Run
- A profitable trading strategy can become unprofitable if you take your profits too early.
You might see a good profit on your trade, but then it starts moving against you, so you close it out early. Don't do that.
If you follow a proven strategy, there's a high probability that it's just a minor pullback before the price continues to move to your take profit target.
The best way to deal with this problem is to enter a stop loss and profit target when you take the trade and then walk away from your computer.
Let the trade work for you.

9. Not Cutting Losses
- Losing trades should only ride to your stop where you close the trade.
Moving your stop when you are in a trade is a devastating and losing habit.
A trade should end in one of four ways:
1. A big win
2. A small win
3. Break even
4. A small loss

You should never experience a big loss.

10.Not Keeping It Simple
- A big mistake many traders make is trading a strategy too complicated for them to trade.
You want to keep it simple.
Most beginner traders usually make trading too complicated.
They are a jack of all trades but master of none.
So how can you keep it simple?
Think quality over quantity.

Master one strategy, stick to one or two time frames (for multiple time frame analysis), and trade one market.

It's been a turbulent week in Crypto, but still full of opportunities for traders. This is why we study and learn our technical analysis. This trade worked out perfectly:)

BUILDING A TEAM OF TRADERS. NO EXPERIENCE NECESSARY. WHO IS IN?

Even when the market goes down like it did today there are still opportunities to be found as a trader.
This is what learning to trade provides. It’s an education in reading what the next high probability move is to occur in the market. Up or down.

It's such a satisfying feeling when you spend the day studying, researching new indicators and tools....applying them, testing them out and then take a profit using them at the end of the day :)

Thank you MBA for teaching me all the right skills.

One of the main advantages of the crypto market is that you don't need a lot of start-up capital to get started.

Most people look at Bitcoin and see 60000 USD for a coin and then don't even consider going into crypto. I was the same....lost years this way of good opportunities....

The truth is you can start with much less. We even recommend to start trading with very little money so you can learn first . Even 100 USD you can start and buy some very interesting coins. We are entering a bull market so it's looking very promising in the next couple of months in my humble opinion.

Most important is to educate yourself and invest in yourself. Then you can make all the right decisions and figure out what you should invest in or what you should be trading.

I got lucky that I found the right academy for myself which is MBA Trading Academy. If you want to take a step into the crypto world I can share how I did it :) Just send me a PM.

What happens when you take a breath, relax, reset and refocus?

You win!

Great thing about being a trader is you can make money from a bullish or bearish market. Meaning market going up or down.

All you need is the right education and the right focus.

Join me in my journey. Curious how I make these profits? Just PM me :)

Bad trades happen. But we shouldn't let them get to us.

This page is about my personal and honest journey in Crypto Trading so I will share my losses as well.

Personally this week was hard for me being Easter and missing my daughter so much. I missed her birthday, Christmas, New Year, my birthday and now Easter.

Trading while anxious might lead to losses. This is why they say trading is 80% psychology and 20% skills.

Take a deep breath, relax, and refocus.

Follow your trade plan and take a break when you don't have the right mindset.

There will be opportunities every day to trade.