Crypto Profit Planning

Cryptocurrency follows the psychology of a market cycle. We see this same pattern over and over and over again. It is a very useful tool when you are trading Bitcoin or Altcoins. It doesn't matter which coin you do, most trends follow the cycles according to the market cycles and you need to find out when to get in, and when to get out. This means all cycles will come up, and go back down. Make a trading plan. This is the way to think when you are investing and plan your exit strategy. As the markets change and your personal style changes so will your plan continue to evolve.

How to take profits in Crypto Trading at the right time?

When you start trading Crypto, it's important you understand the volatility is heavy, and you need to be prepared for that. It's good to take profits on the way, especially during a successful Bull run, so you won't be without profits at the end when the market collapses. The best way to make profit is to make a profit planning, which indicates on what level you start selling off a piece of your investment.

Make sure you do that with a plan! The first thing you need to do is ask yourself a couple of questions before you start throwing real money into it. You need to get started with day trading is to study the internet for useful resources to make your Trading plan. Studying the herd and market movement is a very useful way to invest your time, in order to become successful.

Obviously, the best trading plans need to be very basic and to the point. You do not need to make an elaborate or complicated document. It does however need to cover and go through all the rules of your trading system or strategy. Therefore, the best trading plans are often the simplest and if you follow the guidelines in this Crypto Trading Plan template you will have covered the most of it. Besides, it's very easy to modify and intuitive to use. Improve your skills, learn the basics, spend sufficient time and make the right calculations, and you are good to go. There is only one person that can do it, and that is you. Write down and plan out every part of your trading journey, and think about the end. This includes everything outlining your motivation, decide how much time you can commit to trading, define your goals, choose a risk-reward ratio, decide how much capital you have for trading, assess your market knowledge, the markets you trade, the times you trade them, how you trade them and what exactly your trading strategy looks like. Also, keep in mind that your trading plan is not something that will be set in stone. You will see that by keeping a track record of your thoughts and successes, and also the lessons learned, you become better as a trader and learn new strategies you will continue to update it.

If you want to go into Crypto, there are a few suggestions to follow:

• Start a wallet or exchange by investing a small amount with money that you can accept to lose, just to experiment and learn!
• If you are new, the chance you lose money is growing every day, since the crypto prices grow quickly, and they are probably higher now than they will be after a big 40% correction or when the bear market starts;
• Consider the amount of money you are prepared to lose versus the money you are possible to gain;
• Learn about bitcoin halving and bitcoin cycle, study previous cycles for BTC and coins you invest in. If the crypto is a new project, find similar tokens that have similar tokenomics and technology in previous Bullrun/market cycles;
• Learn about market cap and all-time highs (ATH);
• Diversify your portfolio, for example 10% BTC, 10% ADA, 10% ETH, 20% EGLD, 10%CRO, 10% VET, 10% DOT, 10% SHIBA INU, 10% CEL....
• Keep always some stable coins: USDT, True USD, etc in case a big correction takes place.
• Create a personal framework that predicts price levels for coins you prefer, use criteria like technology (!), newer coin vs older coins, market cap, social media marketing & support, trend/hype, exchanges where it’s available, position in top market cap, low-mid-big market cap, bitcoin correlation, etc;
• Use a Trading Plan like this one, and make a trading strategy and exit strategy (for example you sell every week 5% of your portfolio);
• Make sure you regularly take profits from your earnings, in order to have your investment back in time, so you are ready when the market crashes (crypto market, stock market, economy basically, etc…);
• Nobody in Crypto field is a Financial Advisor, this doesn’t exist anymore… You have to make your own considerations don’t follow the general mass FUD and FOMO.
• Don’t invest 100% in 1 day, spread it over a few weeks, and only during corrections/crashes/downtrends.

This Crypto trading plan includes the following:

• Crypto Profit Planning
• Ethereum Historical Chart Monthly Profit scheme (which are historically good months for Altcoins)
• Crypto Strategy Trading Plan
• Crypto Lessons learned
  
• Crypto Trading Journal
• Crypto trading price (reversal and continuation) patterns
•  Wall Street Cheat sheet explains the psychology of a market cycle
  
• Referral links with free start capital to get a head start on Wallets and Exchange

5 mistakes for beginning crypto traders:

1. Not making a profit & crypto trading plan with feasible goals and exit strategy
2. Start using your own trading directly with real money
3. Not necessarily blunt follow a successful trader, that is not the easiest way
4. Don't invest all your money at once in the beginning
5. Study the market and stock

Make sure to work with Crypto Price Target Planning and don't let emotions influence your decisions. The more clear-cut and simple your crypto trading & profit plan is, the more you will benefit from it. Download this Crypto Profit & Trading Strategy Plan here for your reference.