Quote from: travwill on June 02, 2019, 10:24:35 PM

How many hours a day are you currently trading? What is your daily routine like? I would also like to know about your risk management system.

Hi,

how many hours...i would say on average around 4. but that paints the wrong picture. at the end trading is a passion for me. i'm working full time ..thats 40h ..spending around 15h on top of that in the car on the highway for that. depending on work load and family life i have more and sometimes less time. Also if work is demanding I'm way more tired. usually iam on like from 9 pm to 1 am. When the market is fun I'm not sleeping haha...I'm also using the way to work to listen to youtube thats like 2h for beeing uptodate.

When iam trading iam looking at the daily and 4H charts of the top 30 coins in volume on binance. 80% of them stay the same so you get a feeling for the coins prices. then i'm using a screen with 32 charts where i see the hourly charts and the 7 /25 /100 and 400 MA. i even have the 1600 MA on it. the 400 and 1600 MA make it possible for me to see where the prices are relative to the MA's on the higher timeframes.
e.g. on the 1h chart the 400 MA is the 100 on the 4h chart and the 100 MA on the 1h chart becomes the 25 MA on the 4h. that helps me to see where prices are (consolidating , correcting, breaking out, having a pullback to the breakout level, etc..)
Here is the screen - i also color code the charts

yellow: active buy order
green: bought - good
red: bought: close to stop / dangerous
violet: high volume coin on the 15 min chart (coins which get played in the market and have 4k BTC+ daily volume)

then iam looking for setups and iam busy with charting / managing trades / posting all on twitter in realtime.
I dont use any telegram channels because the ones i joined are 95% full of hindsight trader who post one win after another and make you feel you need to take trades. i have no time to filter the good content from the bs - so i dont read much of other traders.

and risk management is a chapter of its own....
I do vary my riskmanagement.
the less discipline and self control you have the more strict the rules need to be. depending on my state of mind and most recent trades i may switch from very strict to very loose.

per default i risk arounf 0.35-0.5 % per trade. If the market goes good and i got some positions in the green I'm immidiatly ready to risk more - but never more than 2% on a default setup. When something goes wrong and i tilt then at 5% account loss i cut no matter what and take a day off - that happens rarely to be honest ...nowadays

.

since my winrate is less than 50% the risk management is the most important aspect of my trading. when i lose more than 7-8
% of my account due to misstrades with all "valid setups" i go into survival mode, meaning cutting down size, adding on more positions only when the active one are in the profit, having strict stop losses and risking max. 0.33% of the account on a trade. when iam producing green trades i risk more again.

way too many words sorry...but its hard to explain all that in few words, because its all more complex than you see in your standard youtube vid...

Quote from: Kiefner on June 02, 2019, 10:37:14 PM

You really did well. All around repeat that you need to get good knowledge about trading and use a variety of services to monitor the coins and determine the right time to enter. You've provided good evidence that none of this matters. The main thing to be patient and not to rush and succeed. I wish you to increase your capital even more.

Thank you - thats very kind:)