CryptoGist
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đĄđĄđĄIMPORTANT TRADING RULESđĄđĄđĄ
1. Never trade more than 3 coins simultaneously
2. Trade each signal with only 10% of your capital. Anything above 10% per trade is a big mistake.
3. Never close a trade because is going against you. Don't cut the trade. Allow the trade to reach destination. Is either it hit Stop loss or take profit.
4. Master your DCA and always prepare for DCA at -40% instead of closing the trade or hitting the stop loss. Personally I encourage doing DCA than setting stop loss.
5. Don't jump into a trade. Wait till the entry price given to you reach. Unless if you are asked to trade at the current market price.
6. Don't trade signals you are not sure of. Trading is not gambling.
7. Don't over trade. A few trades daily is okay. Protect your capital by all means. When capital is secured, profit will come.
8. If you are weak or sleepy don't trade . If you must trade, then set stop loss and take profit.
9. Don't use very high leverage. Stay with 10x or maximum of 20x leverage. Anything above 20Ă is suicide.
10. If you loose two trades consecutively, close for the day. Don't do revenge trading if not you will loose more.
11. When you are in profit of about +20% , either close the trade and walk away or lock your capital by doing what we called break even. Break even is a process of using your entry price as your new stop loss. By doing so, your capital is secured even if the trade is reversing, it will push you out with no loss and no profit. When the profit is increasing, then keep changing your Stop Loss value to secure more profits. Or close partial. Watch my videos.
12. Avoid following so many groups on trading. You will be confused with various strategies from each mentor.
13. As a newbie don't trade new coins or very volatile coins. If you don't know which coin is volatile or not, then wait for our signals.
14. Trading for profit is like a compound interest. We make small profits from each trade and a combine small profits leads to big profits later.
#CryptoGist #TraderMistakes #TradingWins #tradingjourney
1. Never trade more than 3 coins simultaneously
2. Trade each signal with only 10% of your capital. Anything above 10% per trade is a big mistake.
3. Never close a trade because is going against you. Don't cut the trade. Allow the trade to reach destination. Is either it hit Stop loss or take profit.
4. Master your DCA and always prepare for DCA at -40% instead of closing the trade or hitting the stop loss. Personally I encourage doing DCA than setting stop loss.
5. Don't jump into a trade. Wait till the entry price given to you reach. Unless if you are asked to trade at the current market price.
6. Don't trade signals you are not sure of. Trading is not gambling.
7. Don't over trade. A few trades daily is okay. Protect your capital by all means. When capital is secured, profit will come.
8. If you are weak or sleepy don't trade . If you must trade, then set stop loss and take profit.
9. Don't use very high leverage. Stay with 10x or maximum of 20x leverage. Anything above 20Ă is suicide.
10. If you loose two trades consecutively, close for the day. Don't do revenge trading if not you will loose more.
11. When you are in profit of about +20% , either close the trade and walk away or lock your capital by doing what we called break even. Break even is a process of using your entry price as your new stop loss. By doing so, your capital is secured even if the trade is reversing, it will push you out with no loss and no profit. When the profit is increasing, then keep changing your Stop Loss value to secure more profits. Or close partial. Watch my videos.
12. Avoid following so many groups on trading. You will be confused with various strategies from each mentor.
13. As a newbie don't trade new coins or very volatile coins. If you don't know which coin is volatile or not, then wait for our signals.
14. Trading for profit is like a compound interest. We make small profits from each trade and a combine small profits leads to big profits later.
#CryptoGist #TraderMistakes #TradingWins #tradingjourney