Crypto Trading Rules Of Thumb

Here are some generic rules in trading. Please do know that absolutely every rule outlined here has an exception, but I am writing this in hope to serve you as a good direction focus. Enjoy.

  1. Never go all in.
  2. If you think it has to go down because it went up for so long, it doesn't.
  3. If you think it has to go up because it went down for so long, it doesn't.
  4. When you think it is over and it will go down forever, then it's time to consider investing in the opposite. Trading is a game where only 10% win - and you do know that for that you need to think differently than how the 90% think.
  5. If you just had a failed trade that you didn't expect, don't rush into another trade.
  6. Don't fear missing out. There are new trading opportunities every day.
  7. Don't force the trade if the pre-trade setup isn't playing as you're expecting.
  8. Know your strategy. If your strategy is to slowly accumulate more, you don't need 50x swing trades in between - they can just fuck up your portfolio. 
  9. write down your first gut reaction that you get within 60 seconds of looking at the charts.
  10. Don't trust your gut reaction :)

    Bonus rule: trust your gut reaction.

Daddy loves you... feel free to write in the comment your own rules and help your fellow Blockchain Whispers brothers (and an occasional sis or two) make better trades. Blockchain Whispers is you... 

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Comments

bn7
  • 71
11m ago
Don't follow the masses (when everybody think that btc will do something in some way, it would do it the other way)
c0f
  • 23
11m ago
Every Mistake I ever made as a rookie is mentioned in there
3z
  • 120
11m ago
 Not trading is also trading. Or in other words sometimes not to trade a trade is also trading. I think this one is also important to remember
3z
  • 120
11m ago
 Not trading is also trading. Or in other words sometimes not to trade a trade is also trading. I think this one is also important to remember
Aznfyre
  • 186
11m ago
I always like to take some profits especially if a trade went my way. I am a big fan of pocketing my initial investment so to only play with house money. 
Aznfyre
  • 186
11m ago
I always like to take some profits especially if a trade went really well. I am a fan of getting my initial investment back as to only play with house money. 
Aznfyre
  • 186
11m ago
I always like to take some profits especially if a trade went really well. I am a fan of getting my initial investment back as to only play with house money. 
b28
  • 170
11m ago
Thank you. But Yes! Thank you! 
9d
  • 27
11m ago
buy a couple of contracts lets see max 5 percent...When the direction is wrong buy a bit more so your entry is higher, when Short, or lower, when long..10 percent profit? adjust the slider to 5 or 10.Never ever make market orders and selling half of your contracts
when you are above 25% profit
5x
  • 202
11m ago
Never promise to eat your dick if BTC doesn't reach a certain level.  Some have tried, they have ended up sing at the Vatican in the castrato choir.
D Man
  • 122
11m ago
hahaha, talk about McAfee?
5x
  • 202
11m ago
Good guess Bro !
d0d
  • 15
11m ago
Write a diary about your trades. Try to examine what probably went well and what not.+ What you could have done better. The next time you may be in the same situation you may not be do same mistake again. 
Irish
  • 276
11m ago
Proper risk management is the foundation of any trade, everything else is just gambling.
b28
  • 170
11m ago
Learn to identify when you are overtrading and loosing by mistaking stress. Just stop trading, go out for a walk, relax and think.You can come back later, hours or days or more, but to a sane trading.
deh
  • 59
11m ago
Dont over trade, it is a sure way to lose your initial profits of the day plus some.
b5c
  • 204
11m ago
Dman , you nailed it.  LOL

My own 2 cents, it isn't about what you think.  It's what you know.
bdg
  • 58
11m ago
So first lesson is assume you know nothing, check everything and learn from everyone. Keep your emotions out of it. Have a tradingbstrategy and keep to it :) 
bkz
  • 65
10m ago
so... to trust gut reaction or not?