A Short Beginners Guide to Trading CryptoCurrency

Guide to Trading CryptoCurrency

1. Only bet less than 5% of your money on any one idea. That way you can be wrong more than 20 times.
2. Always use stop.
3. If a position doesn't feel right as soon as you put it on, don't be embarrassed to change your mind and get right out.
4. Hold on to your winners and cut your losers.
5. When the news is wonderful and a market can't go up, then you want to be sure to be short.
6. The market is bigger than anybody and, sooner or later, it goes where it wants to go.
7. Being a successful trader also takes courage: the courage to try, to courage to fail, the courage to succeed, and the courage to keep on going when the going gets tough.
8. When you start losing, it touches off negative elements in your psychology; it leads to pessimism.
9. Place your stops at a point that, if reached, will reasonably indicate that the trade is wrong, not at a point determined primarily by the maximum dollar amount you are willing to lose.
10. Accept mistakes as significant traits of the winning trader.
11. The times when you least want to think about trading -the losing periods- are precisely the times when you need to focus most on trading.