LIVEHave a Reason For Every Trade
Enter a trading position only when you know why you’re entering it and have a clear strategy in mind.
Not all traders are profitable.
Trading is a zero-sum game. This means that there’s someone on the other side of your trade. In other words, for everyone who wins, someone else loses on the other side – we can’t all win at the same time.
When it comes to it, you should know that there are a lot of professional traders involved in the cryptocurrency market already. It’s no longer a niche field dedicated only to cypherpunks and the special few. The market attracts billions of dollars in daily traded volume, making trading edges a lot more challenging to master.
These professionals are just waiting patiently for innocent little fish like us to make trading mistakes. Even if you aspire to trade daily, sometimes it is better to do nothing instead of jumping into the rushing water and exposing yourself to substantial losses. There are days when it is better to keep your profits by not trading at all.
In fact, one of the toughest and most important things to realize as a trader is when NOT to trade.
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