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.
- Never go all in.
- If you think it has to go down because it went up for so long, it doesn't.
- If you think it has to go up because it went down for so long, it doesn't.
- 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.
- If you just had a failed trade that you didn't expect, don't rush into another trade.
- Don't fear missing out. There are new trading opportunities every day.
- Don't force the trade if the pre-trade setup isn't playing as you're expecting.
- 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.
- write down your first gut reaction that you get within 60 seconds of looking at the charts.
- 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...