Trading altcoin rallies
- RISK Management! Never forget our rules for consistent profits. No matter how juicy a certain setups looks, be smart and don’t start gambling and go in big. Sooner or later you will experience a big drawdown. You can be lucky short term but on the long term it’s a guarantee for drawdowns.
- Patience: wait for confirmations, don’t enter a trade earlier because you think it will play out like you dreamed about it. Again: short term you might be lucky, but on the long term, it will cost you money. We prefer to enter after confirmations, maybe miss out on the first 5-10% but we have less risk of entering a risky trade with a potential move down of 20-30%.
- RISK management: once we have confirmation of a bullish cycle, team will provide you more setups than you can handle. And you shouldn’t take them all! Pick a few setups, do not enter all at the same time but spread your risk. We, as the team have some “rules” for posting trade setups to avoid spamming our members and they getting confused with so many to trade. Instead of trying to provide as many profitable calls as possible for Twitter fame, we follow the same principles as we try to teach you….We have a virtual portfolio and do not want over exposure.
- Money management: do not wait for the ultimate moonshot, take profit on the way up. Define multiple TP levels. You can keep a “moonbag”.
- In case a coin is stalling just below TP, don’t feel bad to close the trade. Hitting TP’s is only cool for Twitter fame. You might be waiting to get that final 3% for days, while your capital is stuck in that trade. Better to miss out on the final 3% and hop on another trade which is just starting. The first and 2nd wave up are usually the strongest.
- Trade your plan, don’t start hopping around, chasing green candles.
- In case a coin is spiking because some Twitter hero called the coin for a moonshot, wait till the fomo is over. This fomo sweeps the orderbooks on the sell side without decent buy support. 9/10 you’ll see a decent retrace after where you can look for an entry.
Happy hunting!
