Ten major trading rules in the cryptocurrency circle:
1. Avoid impulse to open a position
Cause: impatient, afraid of missing opportunities
Standardization:
1. Stop falling (no more new lows)
2. No action without golden cross
3. Decisive action if there is vibration
2. Avoid greed, stable profit
Cause: greed, greed is human nature
Standardization:
1. Stop rising (no new highs)
2. Sell when dead cross
3. Clear positions when falling below the lifeline
3. Set stop loss, strict risk control
Cause: unwilling to stop loss and admit mistakes, unsure of entry price, think it is a light position, and can't operate
Standardization:
1. Technical stop loss
2. Discipline stop loss
3. Comprehensive stop loss
4. Set stop loss and protect profits
Cause ：Want to earn more without setting stop-profit, stop-profit position is not set well, think that position will be closed manually, and cannot operate
Standardization:
1. Technical stop-profit
2. Discipline stop-profit
3. Stop-profit to protect principal
V. Avoid chasing ups and downs
Cause: No direction, no opinion, fear of missing the market
Standardization:
1. Buy at low
2. Sell at high
3. Risk comes from rising
4. Opportunity comes from falling
VI. Avoid fear and keep a stable mentality
Three major weaknesses of human nature: greed, fear, and impulse
Others are greedy and I am afraid, others are afraid and I am greedy
VII. Focus on understanding institutions
Focus on trading currencies, tactics, energy, and time
VIII. Avoid full warehouses and all-in
Should you all-in? When should you all-in? 60% regular trading funds, 40% reserve funds, never all-in
IX. Be self-disciplined and keep your emotions stable
Trading mentality and emotional management are essential for traders, even if they only have second-rate technical analysis. Second-rate professional knowledge can also become a winner
10. Go with the flow and you will never lose
Go with the flow and carry it out to the end
