The problem with trading
When I started day trading crypto 3 years ago, I didn't have a plan with my trading. I just thought "if my win rate is high, I will make money gogogo".
I think everyone is missing a very important step if you just do some TA and start trading.
No plan
When I look back at it, it was actually crazy how much I cowboyed my trading. Sometimes, I made +1%, sometimes -3%, sometimes +5%, sometimes +10%, sometimes -7%. There was no structure and I had no idea what results I could expect.
Since I had no forecast of my results, it was difficult to follow my rules. I simply lacked motivation to follow my rules. I think this is very common.
What worked for me
What made me go from a bad trader to a consistent profitable trader, was ACTUALLY using a strategy. Not only trading based on a vague strategy.
I knew from day 1 that a strategy is important - but I simply didn't know how to make one. After losing 90% of my account balance, I took a break from trading for 6 months. Then I came back with a new mindset and reviewed some of my past trades.
NOW - How the heck should I form a reliable strategy that works?
I opened up a Google Sheet and started writing formulas to estimate my earnings and losses from trading, based on different win rate, starting balance, leverage etc. It helped me a lot but it was so tedious to change the strategy in Google Sheets
I had enough. So I started to Google if there was a better way to do this. I found nothing. The only thing I found was a Forex Profit Calculator, but I wanted one for crypto.
Winrate.io was my game changer
So I made my own one. I created a website called winrate.io where you can test your current strategy or create a new strategy if your current one doesn't work.
This was a game changer for my own trading - Since I realized that my current strategy was not efficient at all and I was trading on an exchange with crazy fees.
This is free and it will not ask for anything from you - not even your email. This is simply my Google Sheet in a more user friendly version that I personally use to improve my trading. My friends also use it regularly. So I wanted to share it with you as well. Hope thats OK!