1. Markets are cyclical Many newbies panic and quit crypto trading after the first market crash. Yes, it crashes periodically, but you shouldn't worry about this - as a result, it rises back every time. 2.Distinguish the trading style It is important to understand, that a trader buys an asset for a short time and sells it at a profit, and an investment is a long-term investment, designed to become a source of income in the future.
My trading keeps getting worse and worse, because discipline is gone. I start trading from the very opening and feelings prevail over me. I can't stick to my rules and I'm losing money. Not trading, and some CASINO. From tomorrow I don't open the terminal until 10:20 and I introduce rules similar to the previous ones , but slightly changed. I have a choice now, continue to drain money and spit on everything or return to disciplined trading and stay in this business.
Well after two days of plus, on the third day I broke again and did something stupid. There are some new problems in trading : I do by 50-90 cents in a trade and close it to zero I strongly believe in individual trades and put everything on the line I don’t move my stop at no loss Started trading reversals, my trading strategy almost completely excludes them. I am looking for some new sensations and adventures. I do not follow the trading system , Risk management
Old rules…but very good rules.. They, who needs to keep an eye on the stochastic complex all the time, linear weighted moving averages, anti-aliasing methods, Fibonacci numbers, etc., usually notice, that they have so much data in front of their eyes, that they cannot make a rational decision. One technique says – Buy, the other says – Sell. One method recommends closing the trade, while the other calls for adding to the trade. It looks like a stamp, but simple methods work best.. Let's start.. 1. The first and most important rule – in a bull market, everyone, as supposed, is in a long position. This may sound trivial., but how many of us sold after the first rally in a bull market, deciding, that the market has taken off too far and too fast. It was like this before, and I suspect, that this will continue to be the case in the future. In this way, we do not make profit, which should have accumulated, but in fact we are losing money, being in short. You can be in a bull market or in a long position, or outside the game. Remember, lack of position – this is also a position.
Day trader by pattern (PDT) – it is a normative designation for those traders or investors, who make four or more day trades within five business days using a margin account. The number of daily trades must be more than 6% of the total trading activity of the margin account during this five-day window.
1. Plan your trade. Trade according to your plan. 2. Record your results. 3. Maintain a positive infusion regardless of your losses. 4. Don't bring the market home from work. 5. Continuously level up your goals. 6. Buy on bad news and sell on good news. 7. Don't be afraid to buy high and sell low. 8. Always have a well-planned time for market research. 9. Isolate yourself from the opinions of others..