The Six Golden Rules of Trading! If you follow them, you will be a winner! 💹 💹 💹
1. Only participate in irreversible market trends
Only participate in irreversible market trends; the market is reality, it is undeniable and unchallengeable. Trends are irreversible. As investors, you must dare to admit mistakes, correct them at any time, reject uncertain markets, and engage in trends that even the big players must follow. You must understand the importance of going with the flow.
2. Reject frequent trading
The casino is open twenty-four hours a day, so there is no need to trade frequently. There are many logics involved such as timing, trial and error, and position control. What we advocate is to wait like a hunter for the perfect opportunity, rather than haphazardly investing at the sight of prey.
3. Do not blindly trust technical indicators
First, we must acknowledge that any technical indicator has its lagging nature. For example, when the MACD indicator gives a golden cross buy signal, the coin has probably already risen significantly. When the golden cross appears, you may very well be the one left holding the bag.
4. Forget about the cost price once you buy
Once you short or go long, the cost price has no relation to any subsequent actions, as whether to sell depends on market trends. It has nothing to do with whether you are still making a profit. If the trend is favorable, continue to hold; if the trend is unfavorable, reduce your position or even close it out.
5. Participate with money you can afford to lose
Use spare money for trading; all investments carry risks. Investors can increase their investment after mastering the tricks of making profits in the game. Before that, you must participate with money you can afford to lose; borrowing money often leads to significant losses.
6. Withdraw profits on time
Without withdrawal, everything is just a number. Cryptocurrency investors are like gamblers who haven't left the casino; even if you temporarily earn a lot of money, it doesn't make you a winner. Only when you extract cash from the market can you say you came out on top. In the cryptocurrency world, withdrawing profits on time is a very good habit.
