10 Simple Crypto Trading Principles to Build Wealth Over Time
๐ง Think of this as your go-to guide for smart trading. Stick to these straightforward rules with consistency, and youโll gradually grow your portfolio.
๐ The 10 Golden Rules:
1. When a strong coin declines for 9 consecutive days (while still at higher levels), consider it a potential buying opportunity.
2. If a coin has risen for 2 straight days, itโs wise to trim your position โ a short-term pullback is likely.
3. Take partial profits if a coin surges more than 7% in a single day.
4. If it drops more than 7%, either cut your losses or wait for a better re-entry.
5. Never invest all your capital at once โ scale in with smaller positions for long-term success.
6. After 3 red days, expect a possible bounce โ watch for bullish signs.
7. Avoid chasing green candles. Wait for pullbacks or retests before entering.
8. Always use stop losses โ protecting your capital is key.
9. Trade with the trend โ donโt try to fight market momentum.
10. Patience beats panic โ only enter trades when the odds are clearly in your favor.
๐ซ A final word of caution:
Avoid trading cryptocurrencies full-time, especially if youโre considering using borrowed money. The risks are high, and discipline is everything.
Wishing you success and steady gains ๐ค๐ป