Momentum Trader 📈 Over a decade in the game ♠️ THIS IS MY ONLY SOCIAL MEDIA ACCOUNT.
Joined August 2020
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I’ve been trading markets for 7 years now and it’s taken me until this point to become confident in my approach. Some people learn quicker than others. The one thing successful people don’t do is quit. Here are some things I’ve learnt over the years (I’ll add more over time) 👇
What you’re seeing on the timeline now I was doing months ago.
A few things you need to consider.
Fees/slippage. A profitable system isn’t always profitable once you include fees. You have to factor it in. I’ve thrown away many strategies due to fees alone. Think limit vs market orders. Look into fee structure of exchanges. It’s especially important when using lower time frames for execution with tight risk.
Systems move in and out of sync with the market. Some years yield excellent returns whereas others are break even at best. This has a lot to do with ranging environments vs trending environments. Test it across multiple years in as many conditions as possible.
Overfitting especially on small data sets. If you have a small data that is only 1 year old, you could be overfitting for a certain environment but the next year could be completely different. The less parameters you use, often better. There’s a system I use that has 1 rule and it outperforms all others I’ve tested. More isn’t always best.
What works for one asset doesn’t always translate into another. You have to test it on whatever asset you want to trade. You can’t just test a system for BTC then use that system on ETH thinking it’ll perform the same. It won’t. The 2 move different. Altcoins are different again. You need to understand the microstructure of the market you’re trading.
Automating systems sounds great but you need to understand that the returns you’re likely going to see are going to be less than what you’d see with a discretionary system. It’s difficult to factor in context.
If I was to work on one thing it would be to improve on the context side of things. If you can find a way to avoid trades in the wrong context you’ll do well to improve the returns.
I didn’t hold NEAR as long as I should have but great to see it outperform.
My screeners have been a huge help in regard to playing these rotations.
ONDO was the next play for me. Was in before the news because the chart was looking super bullish. Nice to be able to keep catching the next rotation.
Technicals > news
The most difficult thing about strength following is buying something that is already up a lot. Naturally, you think the move is done.
“Surely it can’t go up more than it already has”
Proceeds to do another 150% within a matter of days.
If something is up a lot relative to the rest of the market, it’s likely going to continue going up a lot.
Don’t be the guy buying shit that’s doing nothing expecting it do something soon. It’s probably going to continue doing nothing.
Same alts showing strength so if the strength returns after FOMC, the same alts will be of focus.
You are always going to have a better time if you just follow the strength. That doesn’t mean dip buying garbage. It means waiting for initiation and seeing how that effort is rewarded or not.
Confirmation doesn’t mean you wait for the weekly to close. You can use confirmation on whatever timeframe you wish. It’s how you interpret what confirmation looks like as per your system.
You tell a real trader by how they act around events such as FOMC.
Mega bull posting into a key supply zone before the event and calling you a peasant?Not a serious trader. Nothing more than a larp without an invalidation.
There are those who call you poor for not buying and holding absolute garbage and there are those who give you objective views up or down. The 2 are not the same.
All of my counters are 100k+ follower accounts and many run well known paid groups.
I think the best training you can do is HILIT. High intensity, low impact training.
Great for mobility, excellent for VO2 max, good for overall strength and if you’re time poor, most bang for buck.
Do it via group training. Meet new people and motivate each other. Another benefit of group training is if you were to suffer from a heart attack you have a bunch of people there to help. Most likely an AED on site. Possibly a medical professional. Many people die exercising alone because they don’t get the help in time. I’m always thinking about this as I get older.
And here we are. What a surprise.
Once again, I invite you to check the comments..
