Simple rules for profitable trading.
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Many people have become interested in trading due to the phenomenal development and popularization of cryptography. Often this is not an interest in the development, application of blockchain technologies or the uniqueness of a particular coin, but as a means to get rich quickly. Indeed, each of us probably dreamed "If I could come back 10 years ago, I would have bought Bitcoins and did not need anything."
Dreams are dreams, and today we will analyze simple rules that would help you better learn how to trade and feel more confident.
The content of the article:
🟦 Develop and learn always.
🟦 Adjust to the market.
🟦 Have trading goals.
🟦 Personal responsibility.
🟦 Keep records.
🟦 Psychological rules.
Develop and learn always
To make money in cryptocurrency, you need to work hard. This is the same job, where the more you know and get enough experience, the more successful the trade. Often, beginners want to raise the "bubble" without doing anything, just buying a coin and in order to pick up their Xs in a short period of time. It is on such characters that experienced traders make money. According to statistics, more than 90% of people simply simply lose their money, greed is one of the main enemies.
It's simple: for someone to make money, someone needs to lose, a classic of a financial pyramid. The more illiterate people on the market, the higher the chances of making money on their own naivete. Few people are ready to take up the study and immersion in this channel, because it is much easier to get involved with the "info-gypsy" to pay him money and get a "miracle course" "miracle signals" having the thought that if you paid, it means goodness, no! This is not true.
A smart trader will report maximum efforts to the constant development of his skills, spend a lot of time and take a valuable lesson from all mistakes in practice. Enrich your knowledge, follow the news, projects in which you invest. The more you practice and follow the different cycles and factors that affect the market, the better you will understand the market. The psychology of the crowd is not a little important, if you learn to understand the crowd and go against it, then this is a direct path to successful trading.
Adjust to the market
The world does not stand still, as does the market. It is constantly necessary to adapt to the movement of the market. What worked a few years ago may not be relevant today. Often, many trade with the crowd using the same technique, but it's not that simple. The more people know and trade on the same principle, the higher the likelihood that it will be doomed. Therefore, the conclusion from this: experiment and look for your personal strategy.
Have trading goals
You must have a specific trading goal. Are you ready to devote a lot of time, tolerate mistakes, change and dispel your dreams of quick profits. Make a plan and prioritize what you specifically need and what you want to come to, specifics so as not to use your resource as time in vain.
Personal responsibility
Many novice traders resort to finding solutions for sure there is some kind of service following which they will make a profit. Almost all of these gurus who offer courses, the paid channels with which you become successful is simply 99% beneficial only to them, but not to you. You are responsible for how good a trader you become. And here you personally answer if you lost money due to bad rates, signals, etc. Progress will happen when you yourself can build personal hypotheses, analyze the market and the situation in cryptography in general, follow the trend and can rely on making your own decisions.
Keep records
As with all investments, never spend more than you can afford to lose. Crypta can make you financially successful, or it can strip you naked at any moment. Invested money - and mentally say goodbye to them. Count your investment, keep track of all your transactions, study and analyze if there are mistakes. The sooner you get into the habit of recording your trading results, the easier and faster you can succeed in the market.
Psychological rules
Each trader experienced not only financial, but also psychological exhaustion. But you can't get away from this. Every trader must go through a certain amount of losses on a trade in order to become successful in the long term. If you have recently found yourself on a strip of losing trades, then you should take a break, some dependence on constant trading is exhausting. You should not be an inveterate "nerd" and desperately want to become the best who sells for days, not resting, hammering on personal life and health. This all has the consequence of emotional and physical, under the influence of which you can do a lot of stupid things in trading. Know how to lose - there will always be mistakes and you can't do anything about it, do not make casino trading, do not try to quickly beat off your minuses on emotions, take this as an opportunity to learn new things and learn a lesson - they will become steps to your success.
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