OK I decided to try my hand again at leverage trading
The plan was to watch the market and when I see it making a move in one direction go in with high leverage for a small move with no stop loss
This went well 1st week and was up 30% but then went down hill fast
The issue I have is not so much bad calls but getting scared
I will go in with 10-20x leverage and see my money drop like a stone be down 20% and exit only to see it climb back up and hit the TP or climb higher
This has happened three times now.
One issue I have other than getting scared is to do with time restraints I am trying to find a trade quickly and not giving it enough time also aping in and usual sh*t
I am trying to come up with a strategy that works as close to 100% as possible and have found one on BTC/USDT with an average of 95% success rate. Other pairs are also high 80s to mid 90s
I have stopped trading for a bit and am doing more tests and paper trading
Is there a way to make this work or do others mainly trade with leverage how do you handle stop loss and take profit
I used to have this same issue. My trading psychology was messed up. It got to a point that I was depressed because I was emotionally invested with the charts.
One day, I decided I would take a break. I didn't look at the charts, I didn't look at my wallet. I put everything concerning trading on a hold.
When I returned, I got a working strategy and back tested like my life depended on it. I also worked on my risk to reward ratio. Although I'm still struggling to keep my emotions in check, my trading has improved drastically.
Sometimes, taking a break is all you need.