Bitcoin Forum

CRYPTO BEST RULES.ALWAYS FOLLOW THESE.

#Patience is the key to success
#Never be panic ,never sell in loss if coin be already dump
#Always wait for right time to buy.
#Sell when you feel good.
#Don't fall in love with one coin.???????
#Don't worry and cry if market will be sudden dump due to bad news.
#Don't enter in the peak value of coin if you have no idea about the achieved target.
#Don't forget stop-loss on support if coin has multiple supports.
#Don't invest in dead coin.
#Trade at your own risk.
#And last dont regret if you sell the coin and coin goes up ,profit is always profit ,because in both situation you will regret if coin goes down you will say why i didnt sell and if coin goes up you will  say shit ,why i need wait I sell in low price but the thing is profit is always better ,profit is profit ,always set what percentage you want from the particular coin and sell it .That set.Never regret next trade is waiting for you.


IF YOU FOLLOW THESE RULES NO ONE CAN BEAT YOU IN TRADING .

It's important that the rules for organization and piece ... in a country have rules whatsoever in cryptocurrency that you earn money. if the money is really going to be talked about it for no reason ..

Lots of these rules have similar meanings. Some are very specific while others are wildly general. Have a scan through them. Hopefully they are inspirational to you when it comes to constructing your own Crypto Trading guidelines.

- Have Trading rules!
- Hold Nothing Long Term Except BTC
- Never buy into a coin after a dump
- Learn to understand the correlation between bitcoin and an altcoin.
- Learn to understand candle stick charts. They offer significant information, which can’t be figured out of normal lined charts.
- Secure winning & limit losses
- Learn technical analysis. This plays a major role in the market movement.
- Don’t trade if you have sleep problems because of a single trade. That is just not worth it.
- Build the Portfolio on Bitcoin
- These are Early Days. Be Bold!
- Index Track the Top 10 Cryptoassets
- Scale Out (Take some Profits)
- Busy the Dip, and do not Sell the Dip
- Do not Over-Trade. Lock up Coins
- Let Profits Run. Cut Losses. Watch 7d Price Change not 24h or 1h
- ICOs are a Great Opportunity. Do Your Own Research. Beware Herd Mentality
- Research Micro-Caps that might rise by Orders of Magnitude. Buy them at CoinExchange. (I like EquiTrader $EQT, a $3 18. million Micr-Cap only available at CoinExchange.)
-Leveraging has a Role. Most traders buy Bitcoin Futures at Bitmex Exchange. Use Futures if you want greater, faster returns (at a higher risk). Start with tiny trades until you gain experience
- Ignore Biased Sources - pump and dump schemes
- Set a realistic plan of return on your investment, whether it's 5%, 10%, 15% or so forth
- Don’t panic and make snap decisions. Do the research
- Don’t rely on guesswork
- Do your Homework before following Hunch
- Learn from your mistakes. The only regrettable mistakes are those from which we learn nothing.
- Buy and sell based on long-term data
- Educate yourself
- Don't just make your investment and sit and stare at charts all day. Connect with your fellow investors and share your thoughts and experiences.
- Buy low, sell high
- FOMO is real. Avoid like the plague
- The Market is always right. Don’t argue it
- Trading with leverage in the cryptos is like juggling Cobras.
- Never let a winner turn into a loser. (Forex)
- Logic Wins; Impulse Kills - logically focused traders will know how to limit their losses, while impulse traders are never 34. more than one trade away from total bankruptcy, (Forex)
- Never risk more than 2% per trade (Forex)
- Being right and early means you are wrong
- Differentiate between scaling in and adding to a loser
- What is mathematically optimal is physcologically impossible. Dont let emotions rule over intellect.
- Risk can be pre-determined ; Reward is unpredictable
- If you do not understand what is going on in the market, it is always better to step aside and not trade
-Stick to your long-term goals.

I take it a dead coin is one with little activity, what would you advise the best course of action in such a scenario if one has such a coin. To cut their losses or hold?

I would add:
- never invest irrationally/desperately.
- there is no unicorn coin (treat them all the same this is an investment it doesn't matter how much you believe in a coin it's how much everyone believes in a coin)
- never invest what you can't afford to lose (this way is the best to neutralize emotional thinking)
- always remember: there is always next time. (say no to FOMO)

It's a good basic rules but to be able to used it in real trading this rules need to be explained further, like How can we know it's the right time to either buy and sell? Yes we need patience to make money in trading but some of the coin won't give you any result even though you are patience, so you also need to be smart

A lot of people know the theory but in real trading it's much more complicated than that, and it need to learn slowly and carefully

Good to know your rules but I have simple rules. Know the risk, never follow signal, always fix the strategy to follow the trend and accept the result. The basic rules/ knowledge is same and never change but how people make plan ( strategy ) with realistic target is different. Some people enter market without rules and basic knowledge, never do that because rules/ basic knowledge will safe us.

there are a lot of rules to succeed in trading, but the problem is we can not control our emotions well, so we break the rules and lose money, and about the time to buy, choose the right time is so hard, when is the right time??

I don't particularly agree with those rules since they seem to be really vague to me.
In my experience, the basics of a good trading are:
- Study, study, study... take a while and just observe the movement on the market. Do not use any money, just wait and look for a while.
- Learn, learn and learn... as much as you can. Every day you must read, must get information about the market, the new coins, the news surrounding the ecosystem...
- Choose wisely. Just pick three of four coins. Don't be greedy, for you have to start from the beginning!!
- Do not invest any non- expendable amount of money. Never, never.
- Be patient and continue learning. You are not going to learn to trade in a week or a month. You can try with small amounts and continue learning in the process, see what happens with your own desitions.

Everybody is different. There are not such as golden rules in trading. Besides, the appreciation one of other have of a coin can be really different, so, to me, you must know yourself before trading. What are my capacities? What are my issues?  Am I impatient? The best you know yourself, the best you will trade.
You probably will commit mistakes in the first year, so just don't ever think you have enough information. Be humble.

The first point is fine but it certainly applies to some of the trusted cryptocurrency who have strong supports, proven and profitable for the long term, no need to wait for some scam and useless coins they don't deserve your patience as they are good for just a short time the same thing with the second one, for the fourth point which is selling when you feel good doesn't apply in most of the cases, for instance, the bitcoin price was just pumped to 8k today and it feels good to sell during these time the thing is that it may go beyond that price in the future and you cut some losses for selling your bitcoins in the premature bull run you might lose the potential opportunity.

My rules are to wait for a bull market and then buy in the dips. I am more long term investor, and I want to check bitcoin price only once a month.

But here are some problems that I have with this approach. How to know if this is a bull market?  Now it looks sporadic so it is hard to say where we are in the cycle. Most sources say it is a bear market, but it looks like it is growing again.

Another problem is even in the bull market, it can fell at any moment. So if you invest long term, you can check the price in half a year and see you lost money.  For example, bitcoin reached 19K by the end of 2017, then it fell. And it was in this parabolic mode since September 2017. It could've fallen in September or October.

It is always saying that patience is one of the top key into trading, but not only patience you have to have the vision and mission before entering a trading, you have to know your aims so you can work it, don't just enter trading because you want to try something or you are bored at least you have a reason and aims.

I agree with most of it, profit is always profit and you will regret anyway. But selling at the right time is almost impossible. I think the key is not investing more than you afford to lose.

Why are you invested if you are going to lose?
No that's not my perception in trading, every coin that I trade or invest those coins are already trusted. Waiting the time when the price in the market was low, then if that happens to grab the opportunity to invest more in cryptos.

OP stated is very informative to us as a new trader or for those newcomers here just to trade much better keep on reading to gather an idea of trading. Patience is the best asset on trading an investing, all you have to do is in good timing in trading to have more profit.

This list is good, but as for me, it lacks the main rule of trade in general and crypto trade in particular. Trade should only be financed, the loss of which will not affect your financial condition. Categorically you can not invest all your own savings, especially taking bank loans for this. This rule is related to the first rule in your list - patience. Working with funds that are really last, a person is not able to be calm, confident, aimed at long terms. Accordingly, this will cause the adoption of wrong decisions leading to losses.

One rule I think I should point out is that you shouldn't come to "love" or favour any cryptocurrency over any others. A pro-trader will know when to leave a coin and when not to, even if it is his favorite, or even if that coin has shown him impressive gains in the past. Loving a coin can hurt you financially as well as introduce bad habits, when you start to hold it for unnecessarily long well past its most desirable sell point.

That rules are good if you enter trading you have must patience, and the most important thing that you will consider you must have self control to control your self once market goes down don't panic.

If i do make rankings from most important to least then it should be like this.

#Patience is the key to success
#Trade at your own risk.
#Never be panic ,never sell in loss if coin be already dump

These are the top 3 of mine which i would consider to be important when we do make trades and having these qualities would really help you in your trading career.

For me the best golden rule to be able to apply all of these rules given is PATIENCE. Its like in the known phrase "Patience is a virtue" because if you will apply these some trading rules but you don't have the patience specially if these some rules are failing at the start then for sure there will be no success for you on trading and it will end up for you to quit. So having a patience in all times is the golden rule of trading.

Thank you, useful information.

You forget the most important rules in trading, "Buy low, Sell high". For me, this is the basic rule if you want that a newbie needs to acquire. If we knew already before we enter crypto trading, there is a possibility that you will earn. Just bear in your mind that we are buying coins in its lowest price and sell it when it goes high. This will prevent us to lose our capital.

I believe that the most important rule when trading in crypto is that discipline will help you succeed and will help you to minimize the risk and loss in trading. You have a good plan, a very good analysis and accurate information but you do not follow what you set out to be profitable greed, hole is gong ... these will make you sink deep on a loss.

All of these are great advice but I dont agree with all of this advice and some need experience to implemented , in trading we need to be able to speculate further, when the price is dropping we need to be wise to decide the next step, if there is a chance that its going to drop further then sell it, its better to lose a little than losing all of your money, and it's absolutely hard to know when is the peak value or the best time to buy

All suggestions are pretty beneficial but it is very hard to comply with these rules when trading because each rule involves different difficulties in itself.