Further notes to the book, which were collected 2 weeks after publication:
Beginners Tutorial - How to Trade Bitcoin in Futures Markets
First version of the Book: https://www.reddit.com/user/reslavr/comments/dtvolc/bitcoin_cryptotrading_basis_guide_book_by_reslav/
The main criterion for success on the exchange is not to let go of a position. When you understand that experts are sitting on the other side of the screen and are looking at your game. Even earning from moving a small amount is a significant achievement, because it is from such small victories that your true earnings begin. It is important to show that you are not going to give up.
Minutes. There is a probability of making money in a few minutes, but it requires high accuracy of work, i.e. scalping, in which a trader with mathematical accuracy enters numbers based on resistance (fear) levels and puts out closing (stop lipite) orders to insure against the breakdown of the predicted support level. A gradual exit with a short flight of stairs - a titmouse in hands is better than a crane in the sky.
The principle of good trade is closed and minus trade. Make a plan in advance to exit the position. Search for support and resistance levels. It is impossible not to close a deal on a stop order. Short and long should be calculated in advance on the basis of the fear of an opponent - a short player or a longist who has set his feet.
Grand goals. But for success in trading, the emphasis should be on them.
2 modes - short futures. Fiat Long.
The rule of long-term trade is to turn off the monitor and wait for the transaction to complete. You can use the sound level.
To remove the human factor - to put a stop - to comply with risk management - a mechanism that protects you from losing a deposit. The function does not allow you to lose 25% of the profit. Money Management - 3 transactions per day
The maximum stop is extremely short. You need to look for filigree entry points. Stop should always be very short. Trading based on tools is nothing more. What type of currencies do you like for storing funds? Making trading mistakes - a quick entry to the market for the whole cutlet provokes the market to knock out stops or make corrections.
If you go against the trend, then the stop is short. What is a chart and why is it better not to look at charts. The thing is that it is watching that looks like hypnotizing and a person gets into a negative state of attention behind the bidding process, which leads to erroneous decisions (manual stop / take profit, etc.)
The banal scheme is to daily catch possible long movements of 100-400 points up or down.
A trader is not an investor. The trader does not really care how much Bitcoin or any other asset is worth. The trader does not have the opportunity to admit the risks of reducing the deposit to a definitely allowable limit according to his risk management strategy.
We are on a breakthrough of a great discovery.
If the limiter worked, then the stop should be reduced (in the case of the algorithm, the stop should preferably be limited to receive the reverse rebate of the exchange - Post only).
First version of the Book: https://www.reddit.com/user/reslavr/comments/dtvolc/bitcoin_cryptotrading_basis_guide_book_by_reslav/
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