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noahcos

$10k Crypto Daytrading Account

By noahcos, in Crypto Exchanges

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noahcos    63

noahcos
Posted
I've been daytrading full-time for more than 2 years now. I've made money in some periods, but i always ended up giving it ALL BACK due to over-trading and poor risk management.

Now i've decided to commit seriously to consistency and rigid risk management. I started off with a horrible mindset and it was only natural that i lost everything i had. It for sure is a character building experience.

I trade the price action. Over time I've collected a fair amount of setups&concepts that provide consistent returns. I have a decent system that makes money, but admittedly, for me it's still a struggle to execute properly. There is a BIG gap between my theoretical profits based on my system and actual results. BUT i am getting better and better every day, trying to close the gap!

My main focus will be on

 

  1. Risk management
  2. Always in control, always trading. Stay away from hopes and wishes
  3. Trade only setups with edge. Focus on those low risk, high reward trades. Make sure to cash in on the winners and minimize the losses
  4. Go with what is, adapt to the situation
  5. Minimizing mistakes, learning from them, not repeating them again

 


I will start with a 10k$ account. I will likely trade mostly futures, but also spot cryptocurrency.

Risk management rules(max loss):
Setups on less than 1H timeframes: 50$-65$
1H setups: 100$
4H+ setups: 200$

Max daily draw down(300$)

I will try to update daily. I won't be posting actual trades, but i might reflect a bit on the day and post daily PNL. If not, then i will do it at the end of every week(depending on how busy the market will be!).
Just because i am daytrading does not mean i will take trades every day. I will only enter when i have a setup with edge according to my system.

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