My 6 rules after 9 years in this market (it doesn't matter but I think it sounds cool)
1. The exit is decided before the entry. Always. If I don't know the exit, I won't enter.
2. No trades in the middle of the range unless you're a scalping genius or a market maker, which you're not.
3. Never add to a loser because you're just praying to get out at a loss unless you've some magical forensics balance sheet reading ability which doesn't matter in Crypto.
4. Never increase size to win back a loss,if you're doing this, you're not a disciplined trader which just means you can't trade.
5. If the plan said no and price pumped, you still don’t enter. Read the last part of point 4 again.
6. Boring is profitable which means your strategy after studied and executed should be a boring signal where you're not leaving things to be guessed.
$XAU $BTC $ZEC
1. The exit is decided before the entry. Always. If I don't know the exit, I won't enter.
2. No trades in the middle of the range unless you're a scalping genius or a market maker, which you're not.
3. Never add to a loser because you're just praying to get out at a loss unless you've some magical forensics balance sheet reading ability which doesn't matter in Crypto.
4. Never increase size to win back a loss,if you're doing this, you're not a disciplined trader which just means you can't trade.
5. If the plan said no and price pumped, you still don’t enter. Read the last part of point 4 again.
6. Boring is profitable which means your strategy after studied and executed should be a boring signal where you're not leaving things to be guessed.
$XAU $BTC $ZEC