How to make the best out of Kryll.io

Everything you need to know about the Kryll.io — Part 4.

Trading is no easy task and making money is way more difficult than just “buying the dips, selling the highs”. That is why you’ll need to adapt to the market and learn along the way!

All other parts here:
Part 1: Basic tutorial for kryll
Part 2: Basic strategies and explanations
Part 3: Adapt your strategies to the market

Learning along the way.

Trading is unforgiving, but like everything else, you can learn from your mistake, and by “you can” I mean you MUST learn from your mistake. Patience is the key to success, so don’t rush anything, stay focused and never lose sight of your bigger picture. Even when you are not trading you are improving, that is the way you should see it.

Backtest your way to victory!

Of course your first strategy may not be successful, and that is why Kryll.io comes with a backtest that works up to the minute!

By using the backtest tool you can select the period you want and try to do a strategy that works well in a Bear Market or even better, a strategy that surpasses the Buy and Hold approach on a Bull Market! You can backtest one strategy at a time, but you can do it as many time as you wish, so don’t be scared to optimize your strategy as many time as you need!

One important thing to know is that the first approach you take on a strategy is not necessarily the good one, don’t be scared to restart from the beginning with what you learned along the way. Take the victories as they come and learn from everything !

Live Simulation, try and retry, it’s cheap!

With Kryll.io comes a tool named “Live Simulation”. When you launch a strategy in live simulation, it will cost you only few cents per day. Indeed it will just simulate your orders so you can see how your strategy is doing LIVE. In Live Simulation everything is up to the second, so what you see is what you could have gotten if you were in a Live Trading session!

Do not ever forget that your strategies may not be perfect and that you might lose at the beginning to win afterwards. Patience is the key to success as I said earlier.

Mindset of a winning trader

If you’ve traded already, you must have felt the extreme joy when you won your first trade or the desillusion when you lost. These two cases are part of trading, you will not always win and you must be ready to lose.

Do not get emotional with your trades, your trades are solely about money, do not let the euphoria get to you, if you have reached your target just sell your part. You will almost never buy the absolute bottom and sell the absolute top, and the risk of doing so is way too high to even consider. Risk management is one of the top priority, I strongly invite you to learn more about that subject. Just stick to your plan. Or at least sell until you cannot lose any more money (in the case of a +100% for example). Same with your positions of holding. Do not let a small dump of the market affect you, always stick to your plan. But how do I make a plan you might ask ?

Well, trading is not a game of fortune or the casino, trading can be optimized. So always base your trades on facts and analysis. Trying to win the Grand Prix without learning the track seems a good idea to you ? Then why spend your money on something you have less than 1% chance of winning ? This a question you must ask yourself before trading because it is important to set your mind in a way that you will not take trades without reason. To make your plan you must analyse what is happening, set your targets, think of a stop-loss,etc… Most of the trading job is done before the actual trade.

It is important to know that you will sometimes lose money on a trade, therefore you need to establish a percentage of loss that is acceptable. And do so for every trade. Whenever you lose the maximum amount that you can lose, cut the trade and accept it. Do not let the loss affect you too much and try to learn from it. As we said earlier, do not get emotional, this is purely about money. Your only goal is to make more profitable trades than non profitable ones.

In trading it is most of the times better to take all the secured and obvious trades, than taking the risky ones with higher rewards. Stay in touch with reality, you will not win 30 times a CEO salary in a month just by trading unconsciously and taking trades that will in most of the case make you lose money faster than you can say “help me”.

Always keep in mind that when you make a winning trade, someone is losing money on the other end. Try to be on the good side of the story.

Learn with other’s work!

Plenty of trading articles are out on the internet, you can even find some on Medium. Find a good author or a good article (that is quite popular and that is the most accurate) and learn from it! You can even learn from our masterclass on Medium, they are short but they are suitable for beginners and maybe they can get you to learn a few things about analysis in trading. More of those masterclass are to come by the way, so stay tuned for that as well !

Happy Trading!

Get your textbook and start learning! A great adventure is awaiting you!

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Our website: https://kryll.io
Twitter : @Kryll.io
Telegram : https://t.me/kryll_io
Discord: https://discord.gg/PDcHd8K
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About Kryll.io

Kryll.io is your first intuitive platform to define powerful crypto trading strategies through a simple drag and drop editor.
  • Nice, France