Top 4 things every successful crypto scalper does
By Vladyslav Yudashkin Updated November 21, 2022
- Trades according to the system.
- Keeps statistics.
- Has strict risk management.
- Adapts to the market.
Trades according to the system
When you trade without a system, it's gambling. Usually, when you ask a beginner why he has opened a position, he uncertainly begins to refer to the fact that someone gave him a signal, or that he thinks it's time for the coin to go in his direction.
Trading is a job in which discipline is rewarded. That is why every trader has his own trading system, which is followed in every trade.
It's like the rules of the road, you can go by car without knowing them, but then you are almost guaranteed to get into an accident.
Professional athletes constantly watch recordings of their performances and practice all the movements in front of a mirror, paying attention to every detail. It is vital to get better.
For a trader, statistics is a rebus that helps him learn from his mistakes. To collect statistics, I recommend tradermakesmoney. With this service you can write comments on each trade, filter them by reason of entry or closure, see the average risk, average profit, commissions, percentage of successful trades and analyze each trade in detail on a convenient chart.
Has strict risk management
Sometimes the market goes against you and you feel the full range of emotions – hope, anger, disappointment, despair. On such days, you will lose all your money if you do not have clear rules.
Set yourself a clear limit – no more than 3% of the deposit drawdown per day. For example, you have a deposit of $1000. You can't lose more than $30 a day.
In this way, you no longer risk falling victim to a spiral of negative emotions, you will begin to be more responsible in the trades you open, and you will be able to create financial stability.
Adapts to the market
Institutional players are always coming up with new ways to entice young players to invest in their coins, and technicians are developing increasingly sophisticated robots. That is why our responsibility as traders is to develop and not stand still.
To do this, you need to monitor the market and watch which setups work best and which end in deception.
An obvious example: during a bull market, breakouts work upwards, and downward breakouts are usually wrong. The same is true for the bear market – downward breakouts are cool, upward breakouts are deception.
In addition, you need to experiment with your trading algorithm and identify its weaknesses. Add new rules, test them, evaluate the difference.
Follow these rules and I guarantee that you will earn much more from trading, and the process itself will give you more pleasure than ever.
Good luck with your auction and see you at the DOM ✌️