Market conditions are choppy and testing patience. More important than ever to get sleep, stay hydrated and mentally focused.
I made a list of 21 rules for trading crypto for myself back in 2016 and I wanted to share it with you guys.
You might want to bookmark this.
1. Learn the market cycle and emotions. (#1 Rule)
2. Don't trade tired.
3. Don't trade frustrated.
4. Don't trade stressed.
5. If you're one of those three things, move into fiat for the next day and get some sleep. Rest up and you'll come back with a clear head.
6. If you can't sleep well at night, then reduce your positions so you can sleep well at night.
7. Look at the charts first and look at the news/speculation/hype after. ALWAYS look at the charts FIRST.
8. If you’re using news to trade, then you’re WAY behind everyone else. Learn your analysis front and back.
9. Sell at resistance to guarantee profit. Evaluate after. (I like 2-3% before resistance.)
10. Buy at Support to position yourself for the next wave up.
11. Guaranteed profit is always better than "Potential Profit." Get used to selling when your UPNL is green and don’t round trip your profits.
12. Never panic buy or sell alts. As soon as something moves through support/resistance (it usually comes back up/down to test it as resistance/support.)
13. Make a plan and stick to it.
1. DO NOT GET FOMO (Fear of Missing Out)
2. DO NOT GET FOMO (Fear of Missing Out)
3. DO NOT GET FOMO (Fear of Missing Out)
4. It's the kiss of death in the crypto space. (Take your profit (at resistance levels) and wait for the next set up.)
14. Long term holder? Short term trader? (If you have a plan, stick to it.)
15. No coin is ever too expensive or too cheap. That's false thinking.
14. There will ALWAYS be another set up coming. With rallies, comes correction. With corrections, come rallies.
15. If you buy at the bottom of a correction, it's a lot harder to lose
money than it is buying at the top of a rally.
16. Don't go all in on one coin. Even though it looks promising, if it
doesn't do what you want it to do and it tanks, then you've lost everything you've worked for.
17. If your coin is on a massive rally, take profits on the way up the rally. 10% all the way up at major levels so if it crashes, you don’t have to dump into an empty market with no buyers.
18. Employ Smart Trading and Risk Management Rules
• Stay unemotional.
• Don’t overtrade.
• Keep your risk per trade around 1%.
• Set Stop Losses at invalidation levels.
19. Make sure you’re taking profits OUT of the markets. Otherwise,
what’s the point? You NEVER know what will happen. (a la FTX, Celcius)
20. If you’re a new trader, focus on 1-2 coins only for 3-6 months at a
time and trade them both up and down. Learn their nuances.
21. The easiest coins to trade are ones above their 200 day moving
average on the daily chart as well as ones with over $100 million in 24 hour volume.
If you found these helpful, consider a like or a retweet and a follow. :)
@CrYpToEdcAtOrs@alicharts It couldn't be farther from the truth than what you say. LOL. It's the one crypto out there with a high-performance engine! Then turbo it up a little more next year. Will be unbeatable. Sorry for you...
@gate_io I can't sign up because you are always having a "Captcha Code Expired" modal message pop up. Even after 8 attempts and very clearly correct captcha code human test passed....Have you paid your Captcha Code Service Provider subscription???
@bisoncoin_io This isn't an attack. This is paying market rate for tx space. Also, this would only slow down the chain. "Legitimate" transactions from others would interleave with the "attack" transactions. Yes, I've tested it extensively.
@JacobCanfield That's why in Portugal they don't tax it. They don't have a category or class of asset it falls under under local tax law. So they leave it until, maybe, the EU gives some direction. Unless you explicitly exercise it as a business. Then you can declare operations.
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@LottoLabs@JorgePascoal18 Only restrictive on buying real estate now. You can now invest in cultural heritage, an established or new fitm that employs about 5 or 10 people. You can invest 250K or 500K in certain investment funds, and so on. This will create more employment in PT. Hence why I am bullish.