Altcoins are underperforming.
This is not a typical cycle.
If you're struggling, you're not alone.
π§΅: I've made a 6-step guide to build an altcoin trading strategy.
(This works in any market conditions, even now) π
This is not a typical cycle.
If you're struggling, you're not alone.
π§΅: I've made a 6-step guide to build an altcoin trading strategy.
(This works in any market conditions, even now) π
1: Pick 1 Niche
It's tempting to trade everything.
But the ones who make the most money get REALLY good at a few things.
Specialize in trading one niche and beat everyone who isn't focused.
Majors, Memecoins, DePIN, RWA, AI, Gaming are all viable niches.
It's tempting to trade everything.
But the ones who make the most money get REALLY good at a few things.
Specialize in trading one niche and beat everyone who isn't focused.
Majors, Memecoins, DePIN, RWA, AI, Gaming are all viable niches.
2: Market Conditions
There are 6 types, choose the ones you want to trade.
-Up Volatile
-Up
-Sideways Volatile
-Sideways
-Down Volatile
-Down
If you donβt know how to identify them there are free tutorials in my telegram. (link at the end of the thread)
There are 6 types, choose the ones you want to trade.
-Up Volatile
-Up
-Sideways Volatile
-Sideways
-Down Volatile
-Down
If you donβt know how to identify them there are free tutorials in my telegram. (link at the end of the thread)
3: Entry
If "x" happens I will buy.
Example: If we get "2 candle closes above resistance" I will buy
Use simple repeatable tools like support/resistance, moving averages, volume.
If "x" happens I will buy.
Example: If we get "2 candle closes above resistance" I will buy
Use simple repeatable tools like support/resistance, moving averages, volume.
4: Stop Loss
Make it easily repeatable.
Try using an invalidation stop loss.
Ask yourself where would my idea be invalidated?
Here's a stop loss tutorial I recently made:
Make it easily repeatable.
Try using an invalidation stop loss.
Ask yourself where would my idea be invalidated?
Here's a stop loss tutorial I recently made:
5: Profit Target
Controversial but start with just 1 R:R for every trade.
The goal here isnβt to start perfect, you can iterate and improve as you get data.
Increase R if your average trades exceed 1:1 R.
Controversial but start with just 1 R:R for every trade.
The goal here isnβt to start perfect, you can iterate and improve as you get data.
Increase R if your average trades exceed 1:1 R.
6: Test
Donβt love back testing.
It doesnβt consider emotions, the current market sentiment, your lifestyle.
It doesn't build real experience.
Donβt love back testing.
It doesnβt consider emotions, the current market sentiment, your lifestyle.
It doesn't build real experience.
Instead, use a small account ($100 / $1000)
-Take 30 trades
-Journal each trade
-Review
If you make money, great you have a strategy.
If you lose money, great countertrade yourself and you have a strategy.
-Take 30 trades
-Journal each trade
-Review
If you make money, great you have a strategy.
If you lose money, great countertrade yourself and you have a strategy.
Once you have your strategy profitable
- Keep adjusting your rules based on your journal
- Add trade management rules
- Find new assets
- Keep adjusting your rules based on your journal
- Add trade management rules
- Find new assets
This should give you enough to start but here are some bonus tips.
-Start with trading longs only
-Start on the 1 minute time frame to build experience faster
-Keep things simple
-Start with trading longs only
-Start on the 1 minute time frame to build experience faster
-Keep things simple
This guide did not include psychology, advanced analysis, risk management and more.
Most people would charge you $1000+ for a structured course covering all of this.
I've made you one for free, click here to get access: go.koroushak.io
Most people would charge you $1000+ for a structured course covering all of this.
I've made you one for free, click here to get access: go.koroushak.io
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