1. Always remember the iron rules of trading coins
1. Always set a stop loss for every short-term trade.
2. Stay away from the market when you have emotions; do not make trades.
3. The risk of each trade must never exceed 10% of the principal.
4. Once you enter the market, never blindly sell due to lack of patience; market developments take time. You must have enough confidence and patience until the market proves you wrong.
5. Do not magnify trades beyond your ability to bear losses.
6. When your skills are not sufficiently developed, absolutely do not trade more than 3 assets at the same time.
Extract a percentage of the profits after making gains.
2. Prohibit revenge trading.
1. After entering the market, do not casually cancel the stop-loss criteria; if the stop-loss criteria are touched, execute unconditionally.
2. Avoid adding positions after a smooth trading journey; you must wait for the next opportunity.
3. Do not blindly trust others' opinions unless their opinions can influence the market; therefore, any opinion should always be taken as a reference.
4. Develop a strict trading strategy; do not handle it casually. If there are no opportunities in short-term trading, it is better not to trade and only trade when prepared.
5. Spend some time every day or do a simple summary of the day's trades before sleeping.
6. To survive in this market, you must remember: survival is always the first priority, making money is always the second priority.
7. It is difficult to conquer yourself; understanding your own faults and finding ways to avoid them is more realistic. If conditions allow, external help can also be considered.
Four key rules for successful trading: trading discipline, trading strategy, trading summary, fund curve.
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