How To Grow A Small Cryptocurrency Trading Account
In this video, our God lead trader Matt explains how to grow a small crypto trading account. Using WAN/ETH, a previous signal that had been posted on the CTP website, he goes through the mental process of making sure you preserve profits and grow your small account.
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Blimey, a crypto trader who understands the terms 'stop loss' and 'take profit' :-) lol
Number 1 rule of trading > capital preservation. Don't buy something and then watch it fall to 10% of it's value.
We know the stats of how many Forex traders become profitable (<5%), it will be interesting in a few years to see what the stats are for crypto traders.
Hahah we encourage profit taking and tight stop losses. This market is extremely unpredictable, hence why we take positions that have a great R/R ratio and set either a hard or mental stop loss. HODLing is a good idea when you have a large account, but when you have an account smaller than $10k you can't afford to just hold through the large dips.
I don't think it matters how big the account is, just don't lose money when you can avoid it :-)