Lessons I learnt so far from crypto trading
Trade only what you can afford to lose.
A crypto trader must learn to put his/her emotions in check. Don't trade emotions.
Trust your setup at all cost and while trusting your setup, it is important to know that trusting a setup while running at a loss is very difficult, therefore make sure you use stop loss.
It is better to loss 10% than let your blood pressure raise over a 50% loss especially when you donât have enough funds to support the trade. Learn to cut your loss.
Donât be careless, always learn to take profit before screenshots.
Never trade against market trend.
Stay away from assets with too much volatility.
Avoid chasing green candles, especially in spots.
Avoid trading above 10X on futures. This is my personal philosophy, and a safety pin.
Review your trades every day at the end of the day, make corrections and recommendations to making the next trade better.
Be patient. If your entry is good, and youâve got a good stop loss and a take profit order, then youâre good. Give it time.
Youâll lose some, gain many, let go of your fears.
Avoid the futures market if you less than $50, you'll likely be tempted to use much leverage in order to make more profit, thereby probably blowing your account.
more to come...
#BTC #ETH $BTC
