Coleen Bolstad jEIw

ready

I lost with that entry 😞

Continuation...$BTC
* What is your Risk/Reward ratio? (It should be at least 1:2, ideally 1:3).
* Keep a Trading Journal: Record each trade: the time, the asset, the reason you entered, the outcome, and most importantly, how you felt. This is key to identifying patterns of emotional error.
* Emotional Control: Fear and greed are your worst enemies. Do not chase prices that have already shot up (FOMO), and do not cling to a loss (waiting for it to bounce back). The plan is executed, not questioned once the trade is open.
4. 💸 Capital Management (Longevity)
* Use Risk Capital: Only trade with money you are willing to lose and that does not affect your lifestyle or financial obligations.
* Withdraw Profits: When you are profitable, periodically withdraw a portion of your profits to your bank account. This not only rewards you but also makes you aware that trading is a real business.
Summary of the 3 most important points:
* Stop Loss ALWAYS: Protect your capital.
* Do Not Risk Too Much: 1% - 2% per trade.
* Have a Plan and Follow It: Discipline over emotion.
#BTCDown100k #Binanceholdermmt #BinanceHODLerMMT

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🚀 Essential Recommendations for Beginner Traders
1. 🧠 Education and Practice (The Foundation)
* Learn the Basics of Technical Analysis (TA): Spend time understanding how candlesticks, supports, resistances, trend lines, and common indicators (such as RSI, MACD, and Moving Averages) work.
* Start with a Demo Account: Never start with real money. Practice on a demo (simulated) account offered by most brokers and exchanges. This will allow you to make mistakes without losing money.
* Master a Time Frame: Don’t attempt to do 1-minute scalping and 4-hour swing trading at the same time. Choose a time frame (e.g., 1h for day trading or 4h for swing) and focus on mastering price action in that environment.
2. 🛡️ Risk Management (The Golden Rule)
* The 1% to 2% Rule: Never risk more than 1% to 2% of your total capital per trade. If your account is $1,000, your maximum loss per trade should be $10 to $20. This is what allows you to survive a losing streak.
* ALWAYS USE Stop Loss (SL): As we discussed earlier, the Stop Loss is not optional, it is mandatory. It’s your life insurance. Define your SL before opening the position.
* Avoid Excessive Leverage: Although 20x or 50x is tempting, high leverage exponentially increases your liquidation risk. Start with low leverage (3x to 5x) or, ideally, no leverage until you are consistently profitable.
* Do Not Average Down: If a trade goes against you, don’t add more capital to lower your entry price. This is doubling down on a loss and is one of the fastest ways to ruin an account.
3. 📝 Discipline and Planning (The Mindset)
* Create a Trading Plan: Before opening any trade, you must know:
* Why are you entering? (Entry signal)
* Where do you set the Stop Loss (SL)? (Emergency exit)
* Where do you set the Take Profit (TP)? (Profit target)

#LUMIA 🚨 Price Action Analysis (Trend)
Aggressive Reversal: The price broke out of a consolidation range (apparently around $0.14 - $0.15) very aggressively, dropping from the high of $0.1691 to the low of $0.1232 in a very short time.
Support Breakout: The drop broke all the exponential moving averages (EMA). The EMA(35), EMA(50), and EMA(200) are now well above the current price, acting as a strong ceiling or resistance in the range of $0.1420 - $0.1435.
Reversal Candle (Bounce): A large bearish candle (red) followed by a bullish candle (green) with a long lower wick is observed, suggesting that there was strong buying pressure at the low ($0.1232), pushing the price back up to $0.1264.

Hello.. a question do you need to have alpha points?

Hello, could you explain to me how you do it?

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