This article has been translated from English to Gen Z Slang.
Yo fam, for all the noobs in trading out there, let me spill the tea on a chill way to whip up a trading strategy. 📈 I’m talking about how to scope out the market, cook up some trade ideas, and keep things low-key risky with those directional bets (“trades”) using what you picked up in the last sesh. 🤑
Look, don’t take this as THE blueprint you gotta follow, but think of it as the vibe for designing your own trading hustle. Although there are other ways to flex your trading skills, the simple route might be the vibe check needed since some of the sneaky ways need other skills (like being a code whiz or math nerd) and extra time to hit guru status.
Other vibes might still pop off for the rookies if they’re already bringing skills like on-chain detective work or coding George Jetson-esque trading systems into the mix.
But trust, this method is lit for setting a sick base to learn the swag you need as a trader. 🎓 Once you level up in these skills, you’ll be ready to flex on other trading styles if you find one that matches your drip better. 😎
The 411 on This Process?
We’re diving into what I call a chill discretionary trading strategy, aiming for mid to long-term vibes. ⏳
Discretionary trading is all about trusting your feels and judgment in the trading game, making it a lil bit like vibing with your intuition. 😉
The flip side? Automated or mechanical trading is all about the codes where every move’s down to a system with NO room for last-minute feels.
This journey comes in four steps:
- Use some fundamental analysis to scout crypto that might be your next bag (go long) or maybe you wanna yeet it (go short).
- Once you know your vibe (going long vs. short), break out the technical analysis (TA) and price action (PA) to spot the clutch entry moves. 💡
- Work out a risk and trade management game plan including when you’re sliding in and hopping out, the size of your play, and how you’re gonna handle any flips in the market scene. 📊
- Keep your trading diary on lock before, during, and after the trade vibes. Review your notes and peep if there are any gems to learn or tweaks to make for your trading glow up. 📓
Why This Process Got the Sauce?
This trading scheme is a dope kick-off for a lot of rookies ‘cause:
- It’s flexible, works across any scene, not just the crypto club, and can slide into new trends like no biggie.
- The strat is all about peeping trends. Trends breed those 🔥 setups with potential major glow, but they’re also slow burns, sometimes taking weeks or months to pop.
- With mid to long-term vibes, you’re not glued to screens, saving on those transaction fees that yeet your gains.
- It's mad practice for spotting catalysts and market drivers (micro, sector, macro), leveling up your foresight game.
That last bit is 💯 since reading market moves is a trader’s secret sauce.
No need to always catch every wave before it comes, but if you do, your odds of getting that bag go way up with juicier reward-to-risk ratios. 🤑As you rack up experience and get those reps in using this style, your baddie skills at predicting the market moves should get hella better.
Let's hit the deep dive into each step of this journey, shall we? 🚀