GOLDEN RULES FOR LONG TERM TRADING!!Hello everyone, this is my first educational post for my community. Hope you guys like it and learn from it.
I saw many and many peoples from the past several years who starts their crypto journey full of enthusiasm and motivation but after some time they left. Only a few percent of people survive in this industry in a long run and that few peoples earn a hell lot of money. So you also wanna be in that few people? If yes, then this article is surely for you. Today I'm sharing with you guys some basics but very important rules of trading if you want to stay in the game for a long run.
1) TRADING CAPITAL
# Don't borrow money to trade from your friends or relatives.
# Save from your salary/job to build your capital.
# Big enough to hurt if you lose but not ruin your life.
2) SLOW DOWN WHEN YOU TRADE A LOT
# Enter only if the trade was planned in all details.
# It's necessary to stop or slow down sometimes. When your inner voice is telling you that it's done for a day then simply shut down your system and stay aside for a while.
3) INVALIDATION POINT
# Know when to exit and exit without having a second thought when invalidation hits.
# Trading without invalidation is gambling. Cut losses. Move on.
4) CHANGE YOUR BIAS EASILY
# You want to be rich, not right. You are here to make money.
# Change your opinions as to the market change, be fluid.
5) LEVERAGE CAN BE YOUR FRIEND OR ENEMY BOTH, CHOOSE WISELY
# Use leverage very wisely. It is the best weapon to grow small portfolios into larger portfolios meanwhile it's full of risk though.
# If you think you become a millionaire in a day by using high leverage then no one can save you from getting rekt.
6) NEVER SUPPORT OR FIGHT FOR A COIN
# You are here to make money. Forget everything else.
# Buy what makes money. Don't become a community member of any project.
# You are here to get rich, not for activism.
7) ALWAYS TAKE PROFITS PARTIALLY
# Don't have a fixed target, always take profits partially.
These are some basic but very important rules to survive in a trading career in the long run. Use risk management as your tool to survive and hard work will bring the profits. Survive for long enough and you'll be a master.
If you like this article and if you think by applying these rules we can be the master of trading then hit the like button.
If you want to add some more basic and important rules then share them in the comments section.
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Thank You!
