If you plan to make a living trading crypto, these eight ironclad rules are worth reading again and again.
I’ve been in crypto for 10 years, and I go over them every day before entering the market.
These eight rules have helped me survive one major downturn after another.
Today, I’m sharing them with you.
1. Don’t focus only on the candlestick chart.
For short-term trades, you should also look at the 30-minute chart.
The broader market needs to stabilize too before you consider entering.
Sometimes a long upper wick looks like a bad sign, but the next day the price surges with a big bullish candle.
Switch to the 30-minute chart and you can spot what’s going on.
2. If the trend isn’t right, even taking one more look is a mistake. $ASMLB
Trade with the trend.
If the uptrend breaks, stay away.
3. If there’s no market buzz around a short-term trade, it’s better not to trade.
4. Give up on all impulsive trades.
Trade your plan, and plan your trades.
5. Other people’s opinions are just a point of reference.
You need to think things through and analyze them thoroughly for yourself.
6. Decide on the market direction first, then pick your coins.
Get the direction right, and you’ll get twice the results for half the effort. $QQQB
Get it wrong, and you’ll have to work twice as hard for half the results.
7. Only trade coins that are already going up.
Trying to call the bottom is a major mistake.
You keep thinking a rebound is coming, then get caught in another shakeout.
Prices always move in the direction of least resistance.
Trading coins that are already rising means choosing the path of least resistance.
8. After a big win or a big loss, step away from the market.
Take another look at the market—and at yourself.
Understand why it happened before you trade again.
Over the years, I’ve realized one thing:
After a big win or loss, staying out of the market gives you a better-than-90% chance of making the right call. #Securitize推出代币化美股后股价涨超10%
I’ve been in crypto for 10 years, and I go over them every day before entering the market.
These eight rules have helped me survive one major downturn after another.
Today, I’m sharing them with you.
1. Don’t focus only on the candlestick chart.
For short-term trades, you should also look at the 30-minute chart.
The broader market needs to stabilize too before you consider entering.
Sometimes a long upper wick looks like a bad sign, but the next day the price surges with a big bullish candle.
Switch to the 30-minute chart and you can spot what’s going on.
2. If the trend isn’t right, even taking one more look is a mistake. $ASMLB
Trade with the trend.
If the uptrend breaks, stay away.
3. If there’s no market buzz around a short-term trade, it’s better not to trade.
4. Give up on all impulsive trades.
Trade your plan, and plan your trades.
5. Other people’s opinions are just a point of reference.
You need to think things through and analyze them thoroughly for yourself.
6. Decide on the market direction first, then pick your coins.
Get the direction right, and you’ll get twice the results for half the effort. $QQQB
Get it wrong, and you’ll have to work twice as hard for half the results.
7. Only trade coins that are already going up.
Trying to call the bottom is a major mistake.
You keep thinking a rebound is coming, then get caught in another shakeout.
Prices always move in the direction of least resistance.
Trading coins that are already rising means choosing the path of least resistance.
8. After a big win or a big loss, step away from the market.
Take another look at the market—and at yourself.
Understand why it happened before you trade again.
Over the years, I’ve realized one thing:
After a big win or loss, staying out of the market gives you a better-than-90% chance of making the right call. #Securitize推出代币化美股后股价涨超10%