Hey Hive fam 👋
While I was away from Hive, one of the things I explored was trading, basically crypto and synthetic forex.
I do more of spot trading in crypto, but synthetic indices caught my attention after I heard you could start trading with as little as $1, as long as your risk management is solid and some other factors... Also, no closing and opening of market and it's not affected by news unlike the Forex (Currency trading) I was familiar with, it's basically TA (Technical Analysis).
Over time, I’ve come to believe that trading is one skill every individual should learn.
It’s been one of those things that showed up for me during unexpected financial lows, literally saving me from crisis on more than one occasion.
Someday, I hope to write more about the mindset side of trading, but for now, let me share a recent small but insightful experience.
⚡️ A $3 Trading Journey And How It Ended
I recently went on a mini adventure, started my synthetic trading account with just $3.
Using a strategy I’d already practiced on demo, I pushed it up to $31.97 in profits before things turned.
Here’s what worked, where I got it wrong, and the takeaways I’m carrying forward.
📈 My RSI Trading Strategy
This is a simple but powerful setup using the Relative Strength Index (RSI) indicator.
🔧 Settings:
- RSI Level: 50 and 50
- Period: 14
📊 Entry Rules:
- BUY when RSI crosses above 50 and is sloping upward
- SELL when RSI crosses below 50 and is sloping downward
🕐 Time Frame:
- I used a 5-minute chart
Here's a screenshot of my RSI settings:
✅ Early Wins
I started small and made a few successful trades using this strategy. Here's one of the winning trades
I withdrew $25 after reaching $31.97 and kept trading with what remained.
With the same strategy, I made an extra $4.85.
But then... fear kicked in 😅
I checked out one of the Telegram channels I've joined for signals call and entered a trade outside my system.
The stop loss hit. I lost $14.52.
Eventually, that same account got liquidated.
In total, I made $22.31 in profit, but after losses and withdrawals, my final balance was - $3.28.
🧠 What I Learned
Stick to Your Strategy
My plan worked. The signal didn’t. Lesson learned.Don’t Let Fear Talk Louder Than Discipline
I got afraid. I doubted my own process. That cost me.Risk Management is the Foundation
Use stop loss. Respect it. Never overleverage or revenge trade.
I’m not a pro trader, just someone trying to figure things out, scalping some profits along the way.
Every win, every mistake teaches me something new.
If you’re also trading or learning, I’d love to connect and share notes.
Stay sharp. Trade small. Grow steady. 💪
Much love,
@chatsunny
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STOPWow, sounds cool but does this strategy works for other indices and crypto?
Yeah, it works for other volatility indices but crypto, no.
!BBH
Hello @chatsunny, I've delegated RC to you. Now you can Comment and post. Feel free to tag me if you need any assistance.
Thank you so much for the support, I appreciate it.