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
Hey bro, you're trading the Way i was trading before and the result is: lost of more than 30K.
Stop leverage trade and go to read about trading psychology, the Best book i find about this is TRADING IN THE ZONE Of Mark Douglas, this book has changed the way I'm looking at the market.
You can't use more than X10 Wich is already very big because there are same coin that can make +/- 5% in less of 1 minute.
Don't trade everyday because you'll find yourself doing over trading.
90% is psychology and the rest is technical analysis and fandamental.
Good luck.