Many people think that trading is just a game of luck. Some people make money while others lose money. But in my opinion trading is not gambling or a lucky game. Your strategy, knowledge and risk management are very important factors. If you have good skills in all three of these areas you can certainly treat trading not as gambling but as a business idea.
Of course, if you invest in a coin without doing any research, thinking that you will make money from it and become rich overnight that is completely wrong.
I have been in the crypto market for seven years but I have never found any scheme or package that can make me rich overnight and I do not even think that way.
As far as my ideas and thinking are concerned, strategy and planning matter a lot in any kind of trading or investment. For example I keep investing in silver and gold. I have sold silver bars twice and both times I booked a good profit. The main reason is that I bought them according to a plan.
In the same way I always carry out every trade according to a strategy. I never open a huge long or short position on a single coin. Instead I use bots such as hedge, grid and DCA as part of a strategy.
The main reason is that market sentiment plays a very important role and emotions also have a big impact on your trading. However when you use a bot with a proper strategy in which your stop-loss, risk management and knowledge are all taken into account you can manage your losses more effectively.
WIN TRADES (RESULTS)
As you can see from my trades around 90% of my trades are winning trades. Of course the profit is not very high but I keep booking profits on a daily basis. I make around $1 to $5 in profit on each trade which is quite enough for me and feels like a great achievement.
After six to seven years my profit consistency has improved my losses have become very low and my profit ratio is now higher. I consider this my biggest achievement.
Remember a trading plan does not eliminate your risk but a well tested plan can help you manage it more effectively.
Now I have a question for all of you... Which trading strategy do you follow and what is your usual trading plan? I will also give a 100% upvote to the best comment :)
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