Here are some essential trading rules to guide you:
1. Risk Management
• Risk Per Trade: Never risk more than 1-2% of your capital on a single trade.
• Stop Loss: Always set a stop loss to limit your losses.
• Position Sizing: Calculate your position size based on the risk percentage and trade setup.
2. Strategy and Discipline
• Trading Plan: Trade with a well-defined strategy, including entry, exit, and risk parameters.
• Avoid Impulse Trading: Stick to your plan and avoid emotional decisions.
• Patience: Wait for high-probability setups instead of chasing trades.
3. Analysis
• Technical Analysis: Master tools like trendlines, support/resistance, candlestick patterns, and indicators.
• Fundamental Analysis: Understand market news, crypto project fundamentals, and macroeconomic factors.
• Market Conditions: Adapt your strategy to the market type (trending, ranging, or volatile).
4. Mindset
• Emotional Control: Avoid fear, greed, and overconfidence.
• Learn from Mistakes: Keep a trading journal to analyze your trades and improve.
• Consistency Over Profit: Focus on long-term growth, not quick wins.
5. Diversification
• Don’t put all your funds in a single trade or crypto asset. Spread your risk.
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