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True. Since the H1/H4 structure once added with the Higher Time Frame levels obviously kills 80% of chop because the indicators lag while the structure leads.
Most beginners hunt M1/M5 “opportunities” while the veteran wait for H4 to give permission, then H1 to pull trigger.
Patience on...
Real reason 90% quit: They expect income, not education. Demo isn’t practice. It’s tuition you pay with time instead of money. If you can’t stomach 20 losses in a row on demo, real account will eat you alive.
"Focus on not quitting. Profits come after that."
This works, but only if you respect the costs. Spreads and commissions eat scalps alive outside active sessions. I’d add: define your max trades per session too. Scalping turns into overtrading real quick without a hard stop on yourself, not just the chart. Good outline.
Facts. Forex teaches you to survive first. Crypto teaches you how fast you can blow up if you don’t. I use forex for process, crypto for controlled aggression. Riskier side gets smaller size and tighter rules, no exceptions.
This is good advice
Dollar cost averaging into Bitcoin is how a lot of beginners avoid getting wrecked by timing. Volatility cuts both ways, so position sizing + patience matter more than trying to catch the “perfect” entry.
A few add-ons for other new folks reading:
Secure it: Learn...
Great summary! I'd add two things that often get overlooked:
Not all crypto uses "miners" , Bitcoin uses Proof-of-Work mining, but Ethereum and many others now use Proof-of-Stake validators, which is way less energy intensive.
"Removes the need for banks" is true for transfers, but most people...
New coins and tokens are being launched almost every day while many end up too so it is better to do some of our own research properly before going to invest in any of these cryptocurrencies since they inherits risks which can be minimised through going into project details and reading their...
Slippage might usually arises because of the volatility so we need to consider this while factoring in other costs like broker commissions and spreads etc. The veterans usually have a proper trade management plan to stick with it while traders so most of the associated risks are mitigated by...
There are many reputed and liquid exchanges in the market where we can buy sell or hold our crypto assets. If we want to hold for long term then we may switch to any trust or offline wallet as well.
Currently trading around 69500, so it may reach the desired levels however since the trading assets is driven by market demands and also affected by the geo political news event so it is good to do some research before investing into any trading asset class because of the associated risks.
The minimum time to trade a demo is not limited to any time, however at least a minimum of six month needed trading a demo account while many veterans use demo even after winning live trades in order to make sure their strategy or analysis is working.
Better to stick with some primary job while learning the desired skills required for forex trading in the part time as a hobby and only shifted to full time trading once we have learned all the required skills with measured success in this industry. The primary job will support our kitchen while...
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