This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. They are offering up to a $1200 deposit bonus. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COWhen I was trading aggressively, I developed a long set of rules based on a laundry list of mistakes that I had made in the past. It is important to have a structure for your trading and to treat it like a business. Here are a few of my old rules, some more steadfast than others.Avoid trading crypto on weekendsWeekend price action in the crypto market is often volatile and occurs at low volume. This makes it harder to predict price action. Whales have a much easier time moving prices with low liquidity when the walls are not defended. This puts retail traders at a significant disadvantage. Also, weekends are for decompressing and having fun – the natural time to take a break from the charts. There are times when I will take a trade if it fits my criteria, but in general I am off duty.Never trade Forex on FridayFridays are famous for added volatility in Forex markets, largely due to professional traders taking profit and closing positions to avoid action on the weekend when they are unable to manage their positions. Like the pros, you generally don’t want to carry open positions into the weekend because you are likely to get stopped out at the Sunday open if news moves price against you. Friday afternoons are often called “chop and slop” because most traders are thinking about other things. This largely applies to stocks as well.Maintain specific trading hoursI only trade when I am fully focused and sitting at my desk. The crypto market is 24/7 and therefore impossible to track at all times. I set trading hours for myself and treat it like a job. If I keep a position open, my orders are set and I do not check the status until I am back in my office during “official” trading hours. This removes the urge to be constantly attached to the market and my phone and allows me to spend time with my family and to do other meaningful things. I will continue to share my rules, but consider coming up with your own or adding these to your plan.In This Issue:Structure Your TradingBitcoin Thoughts And AnalysisAltcoin ChartsEthereum Is Burning!New Bitcoin ETF Filed With New GoalInfrastructure Bill Remains ProblematicBinance Stop Futures Trading In Hong KongMy Recommended Platforms And Tools
The Wolf Den #302 - Structure Your Trading
The Wolf Den #302 - Structure Your Trading
The Wolf Den #302 - Structure Your Trading
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. They are offering up to a $1200 deposit bonus. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COWhen I was trading aggressively, I developed a long set of rules based on a laundry list of mistakes that I had made in the past. It is important to have a structure for your trading and to treat it like a business. Here are a few of my old rules, some more steadfast than others.Avoid trading crypto on weekendsWeekend price action in the crypto market is often volatile and occurs at low volume. This makes it harder to predict price action. Whales have a much easier time moving prices with low liquidity when the walls are not defended. This puts retail traders at a significant disadvantage. Also, weekends are for decompressing and having fun – the natural time to take a break from the charts. There are times when I will take a trade if it fits my criteria, but in general I am off duty.Never trade Forex on FridayFridays are famous for added volatility in Forex markets, largely due to professional traders taking profit and closing positions to avoid action on the weekend when they are unable to manage their positions. Like the pros, you generally don’t want to carry open positions into the weekend because you are likely to get stopped out at the Sunday open if news moves price against you. Friday afternoons are often called “chop and slop” because most traders are thinking about other things. This largely applies to stocks as well.Maintain specific trading hoursI only trade when I am fully focused and sitting at my desk. The crypto market is 24/7 and therefore impossible to track at all times. I set trading hours for myself and treat it like a job. If I keep a position open, my orders are set and I do not check the status until I am back in my office during “official” trading hours. This removes the urge to be constantly attached to the market and my phone and allows me to spend time with my family and to do other meaningful things. I will continue to share my rules, but consider coming up with your own or adding these to your plan.In This Issue:Structure Your TradingBitcoin Thoughts And AnalysisAltcoin ChartsEthereum Is Burning!New Bitcoin ETF Filed With New GoalInfrastructure Bill Remains ProblematicBinance Stop Futures Trading In Hong KongMy Recommended Platforms And Tools