Some words about risk management

How much capital you risk depends on your account size, but as a general rule, don’t risk more than 1-2% of your account on a trade. In other words, don’t lose more than 1-2% of your trading account on a single trade.

Some traders are willing to risk up to 2% of their account. This is typical if the account is smaller and the trader is willing to risk more to make more. Just be careful. There are so many opportunities in this market. If you miss a trade, it is not the end of the world.

When you starring at the screen and hoping, you do something wrong.

How to calculate your position size

In this example, we have an account of 0,1btc. 

2% of 0,1btc is 0.0020btc. That is your risk.

We post a LONG trade on XBT/USD:

Entry 7890
Stop Loss: 7700

  1. You fill in Entry Price and Exist Price (Stop Loss)
  2. You change your Quantity up or down to get a Profit/Loss of the 0,0020btc
  3. You enter the trade with the right Quantity
  4. You get profit 🙂
  5. After the trade you calculate the new risk and start again

Some words about withdraw

We think this topic is very important. Most people want to earn money with Bitcoin, but you can only do that if you pay out regularly. Don’t be confused by statements like Bitcoin will be worth 1 million, 500 million, etc. some day. Nothing is guaranteed. Bitcoin can also fall below $100 one day. If you’re on the road in Crypto space, you’ve probably seen the legendary posts because of the hype. But that’s not for sure! It is important that you pay out regularly. Trading costs time and you should reward yourself with it. Here are some good ideas:

Take your capital which you have invested. Let’s say 1 Bitcoin. At the end of the day (or trade) you might have 1.1BTC. Have the 0.1 BTC paid out to your bank account (yes to your bank account, not your wallet). If a trade ends in a stop loss, no problem, take the next trade until you are back above 1 Bitcoin. Then you pay out again etc.

Many also try to get from 0.1BTC to 1 BTC. But this requires a strict Risk and Reward ratio. This may take 3-4 months but can also lead to success, but then get paid out and start all over again. Imagine you now have 1 BTC and you sell it for $8000. In 2-3 months Bitcoin may be up to $2000. Well, you can start all over again. But Bitcoin can also go up to 20’000 but at least you made $8000. Don’t be blinded by the people who tell you Bitcoin will be worth a million. At the end of the day, what’s on the bank counts.
There are also people who pay out every day at 13:00 UTC.

Think about it and treat yourself to some of the money.

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