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Messages - laubeaud

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Cryptocurrency Trading / The Importance of Having a Trading Mentor

« on: September 05, 2024, 12:03:27 PM »

If you are new to trading, especially crypto trading, don’t go it alone. I learned this very late.

Having a mentor in trading is crucial because they provide guidance, share valuable experience, and help you avoid common mistakes. A mentor can accelerate your learning process, offer objective feedback, and help you navigate the emotional aspects of trading, ultimately increasing your chances of success.

Cryptocurrency Trading / This bad habit will cost you a lot in trading

« on: August 20, 2024, 11:01:06 AM »

As a trader, know that the market trend is not your enemy; it must be your friend. Avoid trading against the trend. Following the market trend is crucial when trading because it helps you align your trades with the overall direction of the market, increasing your chances of success. Trading against the trend is risky and can result in losses, as you're fighting the market's natural movement. By identifying and following the trend, you can enter trades with momentum on your side, ride the wave of price movement, and make more informed decisions.

Do you only trade according to the trend or you counter-trend trade from time to time?

Cryptocurrency Trading / Having a journal of my trades has helped me become a profitable trader.

« on: August 06, 2024, 10:53:15 AM »

Keeping a trading journal is like having a personal diary for your trades. It’s super helpful because it lets you track what you did right and where you messed up. By writing down every trade, you get to see your patterns, learn from your mistakes, and figure out what strategies work best for you. It's a great way to stay disciplined because it holds you accountable for your decisions.

Plus, when you look back at your journal, you can spot trends and improve your game over time. Basically, a trading journal is your secret weapon to becoming a better and more profitable trader.

Do you keep a journal of your trades too, and has doing it helped you?

Cryptocurrency Trading / The importance of a trading plan

« on: August 02, 2024, 10:42:34 AM »

A trading plan is crucial because it provides a structured approach to trading, helping you make informed decisions and avoid emotional reactions. My trading plan outlines my goals, risk tolerance, entry and exit criteria, and strategies. This helps me remain disciplined and focused.

By defining entry and exit criteria, a trading plan has helped me manage risk effectively and maintain consistency in my trading.

Additionally, it has allowed me to evaluate my performance, learn from mistakes, and adapt strategies as market conditions change.

Ultimately, a trading plan is essential for achieving long-term success in the financial markets.

Cryptocurrency Trading / Trade multiple trading pairs or only a few trading pairs?

« on: July 14, 2024, 01:59:08 PM »

In the crypto market, there are many trading pairs. After trading only two pairs for a year, I discovered that it is good to focus on a few pairs. Why? It has allowed me to master those two pairs and understand how they really move. It has also taught me patience because when your favorite setup does not appear, you can avoid entering a trade. Remember, jack of all trades, master of none.

What is your opinion about this?

Cryptocurrency Trading / What does patience mean in trading?

« on: July 09, 2024, 12:40:22 PM »

As a trader, we need patience while trading.

In trading, patience is required at four levels:

A) You need patience to learn how the market moves and how to trade it—"Learn" first before you "Earn."

B) You need to have patience and do a thorough analysis before taking a trade. Do not rush into trades.

C) You need to be patient and wait for your setup or the right opportunity. Be a sniper, not a machine gun, opening trades at each market movement.

D) You need to be patient and let your trade hit your target—do not forget to let your winning trades run and cut your losses immediately.

Do you have something to add?

Cryptocurrency Trading / Accepting this reality of trading has helped me a lot.

« on: July 05, 2024, 07:11:28 PM »

After many years of experience, I realized that losses are part of the proccess trading. Losses happen to the best traders. The best traders I know do not have a 100% win rate.

When I take a loss, I sit down in order to:
a) review the trade
b) learn from my loss

What do you do when you take a loss?

Nigerian Languages / Re: Is NotCoin Here to Stay?

« on: July 01, 2024, 12:37:54 AM »

Quote from: Sim_card on June 30, 2024, 03:13:35 PM

Quote from: Blast on June 29, 2024, 08:50:15 PM
Notcoin started as a casual Telegram game, where users simply tapped a coin to accumulate tokens. Who knew it would explode into this massive GameFi project? Millions of users got hooked, and the market cap is high. It all started with a simple idea. Now, the Notcoin team is looking ahead, exploring ways to keep users engaged.But what about the future? Do you think Notcoin Is it here to stay?
Nobody can tell if Notcoin is here to stay because it is a new coin and has no history or foundation yet. It is better that you don't invest in it but if you can do airdrops and get paid in Notcoin, it is cool. Invest in a coin that has a strong foundation and have lasted long in the market like bitcoin and hodli in other for you to enjoy from the fruit of your labour. You can also buy Etherum is you like altcoins, but I only use some altcoins for transaction purposes.

I agree with you. I have never appreciated the idea of investing in memecoins or coins whose value is based on hype. People often want to make quick money and invest in those coins, but cryptocurrencies with good fundamentals always pay off in the long term. I only receive memecoins or hype coins by participating in giveaways or airdrops. I cannot invest my hard-earned money in them. For example, the first Notcoins I am about to earn come from the '500,000 NOT by completing simple tasks' event launched by Bitget that I participated in recently.

Cryptocurrency Trading / This psychology hack helped me become a profitable trader

« on: June 29, 2024, 04:04:55 PM »

As a trader, it's not good to rely solely on trading as your only source of income. Why? Depending solely on trading puts immense pressure on you to meet monthly bills. The consequence? You may find yourself taking unnecessary and low-quality trades.

However, when you have another or multiple other sources of income alongside trading, you can stay relaxed and have the mental comfort needed to make quality decisions. For example, you can be a trader and be a Bitcoin miner.

Do you have another trading psychology tip to share with me?

Meme Coins / The Impact of Memecoins on Crypto Adoption

« on: June 28, 2024, 07:07:29 PM »

I noticed recently that memecoins have played a major role in crypto adoption. Many people have entered the cryptocurrency space because of memecoins. With their simple concept, they successfully attract many users to the crypto space. For example, Bobo the Bear is a meme character associated with bear markets. Bobo satirizes poor investment choices and expresses market pessimism. It's drawn by community members worldwide. The memecoins market cap is growing fast. The rise of memecoins, which were once used as a signal of a bull run top, is now a sign of memecoin season.

Cryptocurrency discussions / Re: What are your thoughts on decentralized GPU cloud infrastructure?

« on: June 07, 2024, 06:24:03 PM »

I know that getting a GPU is expensive for many people. Decentralized GPU cloud infrastructure can help them access a GPU by paying an affordable fee to the owners of these GPUs. I don't have a good understanding of the concept of decentralized GPU cloud, but I saw many CEXs like Bitget, Bybit, OKX, and others mentioning Aeithir, a project specializing in it. I will study this concept more.