Tips To Trading Effectively On MultiHODL

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Always closing your trades in a loss on MultiHODL? Fret not, we prepared a thread of tips for you so that you can try them out in your next MultiHODL position! Click below to level up your MultiHODL game: ⤵️⤵️⤵️ 1/n

DISCLAIMER: This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction. 2/n

1) Always trade with a strategy that you have extensively tested by backtesting and paper trading. Knowing what your win percentage is will help you trade with as little emotion as possible in this way. 50% win rate means you can lose 5 out of 10 trades. 3/n

Always put TPs and SLs. When you enter a MultiHODL, you need to know when you want to get out. Don't FOMO in again when you have met your target profit even if the price keeps getting higher. Don't rage trade when you make a loss. 4/n

Tip 3: Be patient and trust your analysis. Make a trading plan and stick to it. If it's going in the wrong direction, then so be it. Stick to the plan with conviction. 5/n

Always trade the same pairs. Find out which crypto pairs suit you best and only trade these. This will help you get to know the price action and get better results. No shame MultiHODL-ing BTC/USDT, ETH/USDT all the time even if your gains are only 10%. 6/n

DO NOT OVERLEVERAGE. If 5x your margin and a 50% drawdown is something you can accept, stick to it. Don't be greedy at the potential gains because the losses will be huge as well if it doesn't go according to plan. 7/n

Losing trades is fine. There are some traders that have lost 7 out of 10 trades but still come out on top because they maintain their discipline and are extremely patient. 8/n

CONCLUSION: MultiHODL allows you to be in the thick of the action almost immediately with extremely tight spreads to the market. Set your TP/SL, your desired collateral, and leverage before opening your position, and enjoy your trade! 9/n