Cryptocurrencies are one of the most lucrative markets for trading.
And trading is just one way to make money on the crypt …
The crypto market is a wild slide that has the potential for big profits and unfortunately also losses.
Not everyone can be a winner in trading.
In fact, most traders lose money and few ever get to the point of making consistent profits.
And who are they?
Those who follow the rules …
For successful trading, it’s important to set a set of rules and … stick to them.
Here I give you 3 rules for successful crypto trading.
These rules are followed by all successful traders.
And these are …
RULE ONE: Combine basic and technical analysis
Many will panic buying for fear of missing the ideal price, so it’s important to be one step ahead of the herd.
Include basic research in your daily routine, which means following the crypto world and staying up to date.
Support your market research with technical analysis, chart price movements with graphs.
This is the knowledge you learn and it’s not really anything difficult, just a few exercises …
RULE TWO: Choose quality over quantity
The biggest mistake you can make is over-trading in the markets.
Most of the time, the 50/50 price is likely to move in your favor
Therefore, if you are a smart trader, then you know how to be patient and increase this probability with good research.
Some limit their trades, e.g. max 3 trades / week, but sometimes it is necessary to wait for weeks for a good trade.
Patience is a skill in trading that avoids unnecessary problems.
RULE THREE: Manage risk
Being a successful trader does not mean that you are always right to always choose the right decision.
This is not possible, there is simply NO such trader.
A successful trader manages risk.
He has an exit strategy when he is in a bad trend.
There is a good balance between sticking to your plan and adapting.
You find this balance or. you develop with experience.
It is one thing to know when to enter a trade, and another and more demanding to set a time to exit.
However, you always follow the rule to invest in the trade as much as you are willing to lose.
It is wise to set the trade limit in%. Eg max 3% of your budget / trade.
This is how you protect yourself from a hot head and excessive enthusiasm.
So … I gave you three rules for successful trading.
However, as you may have noticed, a trader must have certain skills and knowledge that make him successful.
I acquired these skills myself in the largest financial online academy, where I learned crypto, rules and trading skills with educators who taught me in live sessions.
This is an extremely effective way of learning, where the mentor takes you step by step through the crypt to your financial success.
These are the greatest crypt masters in the world and they are ready to share their wisdom …