1 Week Trading Futures. What I ve learned

One month ago I was writing that a new journey was ahead. A journey to the knowledge and (if I may say) art of trading.

In my post I wrote 5 steps that I believed someone should do before they start trading.

Well some of my own advice, I did not follow - but I also do not regret it.

My tips & advise was the below:
1️⃣ There’s no secret recipe for big wins.
2️⃣ It’s not just about technical analysis.
3️⃣ Start with a demo account, not real money.
4️⃣ Learn the risk-reward ratio.
5️⃣ Define your trading style and stay consistent.

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I agree with all the above, there is so much more than technical analysis in trading and anyone who is ready to start traveling that road, should limit their expectations at first. There are not easy gains, there is no secret recipe, there is not a 100% successful strategy. But, you can learn how to earn and after that, you can learn how to best earn according to your needs & time.

I wanted to start with a demo account, but I decided to do something else.
I am not sure if this is right or wrong, but I decided to place a small amount of money in the futures accounts in the exchanges that I use and start playing.

Now you may ask me. But, do you play with your money? Do you not respect it?
I do. But for me, it is important to be able to be trained on the spot, and without risking large amounts of money. We are also usually more risky when we play with fake money, and more careful when we place our own :)

I am already an investor who is hodling for a long time. I have bought crypto that I still hold, I am earning hive which I am staking, I have traded or converted a number of crypto for a number of reasons.

One thing I had never dared to to until recently, was trade with futures.
Attention This can be highly addictive and also highly unprofitable if not handled right.

Here are a few important things that I have learned.

1. Make sure that you only gamble money that you can afford to lose.
2. Make sure you know well the futures features in the exchange you use, check your leverage.
3. Always put a stop los and a take profit amount.
4. If you do not have the patience and the skills to handle a perpetual trade, then do not place it yet.
5. Make sure you have the app on your phone because there maybe a point that you wish to do something radical like closing your position. (choosing a SL wisely will be nice anyways)
6. If you have questions, ask.. if you have noone to ask, ask GPT.
7. Find out the metrics that you need to keep on a daily basis.
8. Set a minimum loss - and maximum profit per day. Do not exceed that
9. Set goals and check them often.
10. Remember to check the general market trend too.

It has been one week approximately that I have started trading, and I have had both wins and loses. I have not been writing them down, because (well, no reason - I know its wrong)
I am almost with the same amount I have had since I started. I mostly am doing scalping and I think that at this point of my life, I am too impatient to try out other forms of future trading..

So, tell me about you.
Do you trade futures?
Is there a specific exchange you have found to be better than others?
What is your trading type? (swing, scalp)
How do you find which tokens to trade?
How long have you been trading?

Looking forward to know more about your own experience :)
Thanks for visiting!

If you are thinking of creating your web3 journey now, you can use my referral link to join: https://inleo.io/signup?referral=katerinaramm and you can read this post for getting started in a few steps!

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