₦airaland Forum

Still available.

Available!!!
4-year old Amazon KDP account for sale. Account linked with 8-year old verified payoneer account.

Payment withdrawal made over 10 times from Amazon KDP to my payoneer.

I've been in this kind of scenario before and the best thing is to actually "slow down" like she requested.

Just try and keep yourself very busy that you have little time for her. But always try to reach out to her once in a while.

With time, you'll know where the relationship is headed, and if it's for the rocks, you won't be too heart broken at that point.

Still available, kindly indicate if interested.

I don't have $1000 to put into this, but if I would do it again with a small account, I wouldn't pursue profit.

I would use the small account to demonstrate that my trading strategy works. And that's it.

DXYY:
My advice, just focus only on trading btc , btc controls the crypto space hardly will you see any coin pumping while btc is dumping.

Yes, BTC controls the market. But the volatility is still there.

My observation is that you can't make money trading any instrument with a small account. BTC, Forex, Indices, whatever

For me, the purpose of a small account should be for practice, to backtest strategies and to show that you are able to be consistent with your trades.

The moment you try to make money with a small account, you get taken out!

Some insight from Babypips experts:

The only danger with a small account is exposure risk. And if all the percentage relationships remain the same compared with trading a large account then actual position sizes will inevitably be very small and the earnings equally small, which for many people will, at some stage, lead to frustration and the temptation to take larger risks via higher leverage, for example.

In addition, a larger account can absorb a period of losses and still continue, but when a small account takes a series of hits it is even more difficult to recover with only tiny risk exposure.

Also, larger capital accounts do not necessarily use all their funds against a single position. This offers far greater flexibility and opportunity to scale in/out of positions and/or have multiple positions across different instruments. A small account has far less scope for flexibility.

These basic differences mean a small account is much more limited in risk opportunities, managing positions and recovering from a series of losses even though the risk per trade is moderate.

Another problem area is the choice of timeframe. Longer timeframes are generally considered more reliable but require wider stop-losses to avoid premature stop outs on spikes/pullbacks. A small account does not have the same capability to take a reasonable sized position with the related wider stop-loss requirement and still maintain an acceptable risk exposure when compared with a larger account.

This does not mean it is impossible. It just means there are additional restrictive issues relating to account size in addition to the core issue of getting the direction right.

Finally got liquidated. Account blown!

This might not be the end.

guass:
Crypto trading is gambling

I don't think so.

Virtually all of the analysis in my last 10 trades have been right, but because I overleveraged, I get taken out with just a small drawdown.

I'm beginning to think that it is impossible to become successful trading with a small account. You'll have to take too much risk if you want to make a reasonable return and that will fvck with your trading psychology.

Becoming a successful trader is possible but you need a sizable account else you'll either lose motivation or overexpose yourself to unnecessary risk.

That is why there is a market for funded accounts with prop firms.

I've observed that my analysis are often correct but my execution is poor.

My mindset is more of that of a gambler than a trader, and that makes me enter trades before the right setup or try to predict where the price will move without any strong bias.

I need to do better.

Day 15: 7/5/2024

I'm getting absolutely recked here.

I became complacent. Overleveraged and traded with a lagged stop loss. The market is brutal!

Loss: 225%

Looking to trade the 1000SATS/USDT perpetual on the 1H timeframe.

Missed the recent upswing even though I've been following the trend. Actually, I used it to backtest and finetune a new entry strategy I've been working on.

But now I'm following this trend bumper to bumper because my analysis shows that the market is about to pump if price can break the larger downtrend.

I expect to trade this perpetual with a X50 leverage using 25% of the account.

Honestly, it is very difficult trading with a small account, but you get the chance to make mistakes and learn a lot of lessons without losing much.

The standard way is usually to risk 1% of your account or $1 whichever is greater.

In my case, if I used $1 which is the greater amount, it would take me years to make anything reasonable from my trading.

So, I've resorted to using 25% of the account (A big risk I know).

If I'm lucky enough to grow the account, then I can revert back to the standard procedure.

Hmmmm.

Day 14: 6/5/2024

Finally moved to the futures market.

I'm deeply considering trading futures.

Currently testing out a few things to see if trading futures could give me the ease of trading I seek.

I've observed that the futures platform on Binance is simplified than the margin platform. There's no confusion about borrowing and paying back after each trade, and the leverage is way higher. This makes it riskier though.

With futures I could blow my account overnight and lose everything due to the overblown leverage.

However, this vulnerability might just be what I need to create the right discipline and stick to a tighter risk management.

We'll see.

I'm learning a lot about myself and the way I trade.

I believe I'm improving in my trading skills, but some bad habits are holding me back.

Some of these bad habits include not taking profits quickly and exposing myself to too much risk. Also, I sometimes trade just for the sake of trading and not because I saw a good opportunity for profit.

I also believe that I have to lower my expectations for the short-term and aim for consistency towards long-term goals.

Aiming for a 30% profit per day might just be unreasonable and unrealistic.

After a critical look at my account, I believe a 10% daily profit on my segregated account(which is 25% of the total balance) is reasonable. This gives me a daily profit of 2.5% which could possibly make a 50% ROI per month.

I'll have to consider this.

The trade for day 13 took almost 2 days, as it was on the 4H timeframe.

Loss: 20%

owelle22:
Try using smart money strategy

I've tried it. The ICT concept can't be used ordinarily by itself so you need other confirmation biases. But most importantly, no strategy works 100%, you win some and you lose some. The goal for me right now is to become a high quality trader with good risk management and then I'll see what I can make out of it.

Went short on the REI/USDT pair and hoping for a quick profit OR another loss.

Timeframe: 4H

Day 13: 2/5/2024

Will start trading strictly with max 25% of the account going forward.

Stevengold:
E be like your losses plenty o

Yea, I'm testing a lot of things. So, that's expected. I'll be narrowing down as time goes.

guass:
Where are the crypto gurus? You guys should come and teach us how best to trade on binance because I have personally tried it too with $20 but I equally recorded only LOSSES.

There's no best way to trade and nobody will teach you exactly how to trade. You'll have to find your edge by yourself.

There are many gurus out there trading with different strategies and they are all making it. This shows that the trading strategy isn't the common denominator. The key is the quality of the trader himself.

So far, I've observed that your strategy is not the most important thing. Even the best strategies record losses. The market has no emotion and has one single plan of recking you. Heck, the market is often manipulated by whales and institutional traders.

So, there's no best strategy or way to trade.

Here's the most important thing I've observed.

RISK MANAGEMENT.
FINDING YOUR EDGE.

If you can avoid greed, avoid revenge trading, do proper risk management, and find your edge, you'll make more profits than losses, thereby growing your account.

I'm patiently building the trading capacity while putting my emotions in check. It's a lot really because I'm taking a lot of L's but I understand that THIS is the process.

Nobody is coming to save me. I must dig deep to find MY OWN EDGE.

owelle22:
What strategy are you using?

I'm trading with the trend but yet to decide on a permanent technique to use. The truth is, you'll have to test out your technique about 100 times to find one with a high win rate. Again losses are expected. The plan is to find a technique with a high win %

Day 12: 1/5/2024

Loss: 8%

I'm returning back to my hedging plan to test it out enough so I can find an edge to this trading thing.

Hoping for the best.

Day 11: 30/4/2024

Yesterday was so hectic and I planned not to trade, however, we know how these things go.

I eventually traded, howbeit being very distracted.

I ditched my hedging plan and resorted to the default market chasing tactics, which led to another loss!

Loss: 10%

Day 10: 29/4/2024

So, I’m testing this hedging plan that involves capping my losses to 2% max, though it involves trading with both my cross margin and isolated margin accounts.

And I have to be very accurate with my numbers, else everything will come falling like a pack of cards.

I hope to test this technique for the next 1 week to see how profitable it is.


Today’s result:

Isolated margin: Loss 5%
Cross Margin: Profit 8%
Net profit: 3%

Greatheight:
I see you're doing a great job here by keeping journal of your trading activities even when the profits are still not evident for now. Howbeit, since you're not considering daily profit withdrawal but weekly target. I will simply advice you to keep extremely low with your risk exposure. By this, you'll actually learn the areas you need to concentrate more and patience required.

I wish you true trading success!

Thanks. I'm working on a plan for this week that will put my daily loss at 2% max. Hopefully it works out.

guass:
Those who claim to have made it via Binance should come and prove it now before I call them KIDNAPPERS.

Lol.

parkervero:
I like this experiment.

I'm following you religiously and learning.

Thanks. We are all learning.

Day 9: 27/4/2024

Made only one trade today which ended in a loss. It seems as if the market is set up to lead you in one direction and go the other way. Hmm

Loss: 4.9%