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 cam see that all you have been doing so far is to gamble. As a trader you don't have to trade the way you are doing it which is obviously a weak and poor way to trade the market. I think many traders that had followed this pattern of trading are no more in the market again and they have ended up losing all there funds. You need to stop this kind of trading and go learn the art of trading so you can trade with confidence and not been panic or the market next move because you are very sure about what you are doing.
Trading is more of skills than trying your luck to see if you can make some profits and later losing it due to uncertainty of what you are really doing because the method you are using is not safe at all and can make you lost everything of care is not taken into consideration.