Spicy
@spicyofc
• Ex-Prop Trader • 8 Years Crypto • Follow to learn how to trade, the simple way.
I made 124% in 2023 For context: I trade breakouts on the 1min timeframe on high volatility altcoins. Here are the biggest mistakes I made that year: 🧵
Stop swing trading , Start scalping It will suck in the beginning but you will learn faster. Fast Learning = less time to hit the 2 major milestones of a trader. ↓
SUI Slowly grinding into the highs of May. If the big level can break and hold it won't be too surprising to see $5 next.
Trading can feel wild. So much pain in the beginning... Then one day it just starts to click.
Gauging market conditions: What style is the market favoring • breakouts or reversals? What direction is the market favoring • up or down
Bitcoin It spiked the lows (near monthly VWAP) and is now at midpoint. Considering it's the weekend it won't be surprising if it just stalls out here. But otherwise bias leaning towards more up, towards the range highs.
Saturday Study Session: 1. Reversal Triggers: x.com/spicyofc/statu… 2. Creating a Market Bias: x.com/spicyofc/statu… 3. Four variables to improve trading performance: x.com/spicyofc/statu…
How to make more money Trading: 🧵 • Winrate %: ↑ • Avg. Win per trade: ↑ • Avg. Loss per trade: ↓ • Trade Frequency: ↑ Time for a practical thread
Stoploss Placement: • not a fan of fixed % or even trailing % SL's • big fan of "invalidation" based stoploss "If price goes to X , then my idea is no longer valid so I will close."
Want to win? Put yourself into a high stakes environment where winning is the only option. One where you cannot afford defeat. The body/mind will adapt and winning will occur as a byproduct. Playing it safe is -EV because you're going to die one day anyway.
Trading against Trapped Shorts: • fast spike, shorts enter at the lows • they immediately get thrown offside • enter long and TP at their SL example ↓
Discretionary Trading: • random intuition-based gambling ❌ • partially data-backed bets ✅
Wasn't able to trade it but it looks like Fartcoin wants to be stuck in a ranging environment until the end of time 🤷♂️
Fartcoin Was stuck and ranging at the previous day's low and managed to hold. Waiting for: • price to "spike" the level • a break of structure • reversal back to the origin of the spike.
Fartcoin Was stuck and ranging at the previous day's low and managed to hold. Waiting for: • price to "spike" the level • a break of structure • reversal back to the origin of the spike.
PUMP It has been just non-stop bleeding through the lows. With Bitcoin selling off and pulling a lot of coins down with it, won't be too surprising if the $0.002 level ends up being tagged.
Quick hack to instantly get better trading results: • delete all crypto/trading apps from your phone. less distractions = less stress = less mistakes.
sure technical analysis is great and all but without good execution it means very little
Confluence ≠ Correlation Moving Averages, RSI (and most other tradingview indicators) are derived from price and will not show you something new. 2 price-based tools saying the same thing is correlation, not confluence. Confluence comes from unrelated data sets.
You're not a "bad trader". Maybe you just underestimated how much practice is required and that's totally okay. Get back to learning and improving.