STEPS IN INVOLVED IN CREATING A CRYPTO TRADING PLAN||10% beneficiary set to @tronfanclub

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Hello great friends and steemit devotees,I welcome you to another amazing content from my blog, and if you are fascinated by Cryptocurrency trading and all it has to offer,

then this content is just right for you because I would devle deeper into Cryptocurrency trading and give a step by step process of creating a plan of your own for trading,

giving you all the confidence you need to start making money even as a beginner . So friends ,Let's go on this journey together as I unravel the blueprints of have a successful Cryptocurrency trading career and also achieving ur trading goals

STEPS INVOLVED IN CREATING A CRYPTOCURRENCY TRADING PLAN

Creating of a well detailed trading plan is very important to all serious minded traders who seek trading growth in this ever volatile system

GOALS AND OBJECTIVE

when starting out a project should have goals and objectives in place and trading isn't left out of it

Before venturing into the crypto trading as a trader, it is very mportance to set clear goals on what achievment you desire from the market.

Your goals and objectives should be the reasons for putting in a trade, it can be financial freedom, or you want money for a Lamborghini, investment etc but your goals should be clear and achievable because having a clear goals fuels your passion to trade

UNDERSTANDING YOUR RISK TOLERANCE

Before placing your first trade, it is very important to understand as a person how much you can possibly lose and still be psychologically okay

because Cryptocurrency trading is a very volatile and risky activity understanding your risk tolerance can be a the most important factor we need in order to develop a successful crypto trading plan.

Risk tolerance refers to the amount of capital you are willing to lose per trade will on the pursuit of potential profits and it is affected by few factors like goals and financial capacity etc

To understand how much u can lose it depends on how much you capital you can afford to lose without messing up ur financial record book , this involves checking ur income, savings expenses etc

Also being experienced with money management helps in risk tolerance allowing you to create a trading plan that suits ur level of comfort and still maintaining emotional discipline.

CHOOSING YOUR TRADING STYLE

They always say that the right trading style should always be a style that fits your personality perfectly

So choosing the right trading style is very important when you creating a crypto trading plan
We have different styles of trading like day trading swing trading and scalping and each style depends on time commitment, experience and market conditions and the style u choose should perfectly match your trading objectives

KEEPING A JOURNAL
Keeping a journal is a practice anyone who is serious about trading progress should adopt.
It maintains a record of every trade, including wins, losses, which gives you insight into your system and opportunities for development.

the time and date of entry, and the justification behind the pricing. With all of this knowledge, you may analyze the pattern and understand he strategy's long-term benefits

A trade journal also allows you to identify the precise error you made, and can evaluate your mistakes to learn from them.

Growth and the development of one's skill set depend mainly on this process.It maintains a thorough log of every trade, including wins, losses, mistakes, and routine, which gives you further insight into your approach and development

CONCLUSION

Creating a crypto trading plan is very mportant in becoming a successful trader.Akways Remember to stay disciplined set your goals and adjust your trading plan when needed may God help us all
Thank you friends for taking time to read my blog post