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I follow some rules. Am not sure if they will work you for everyone but these are the basics.
1. Keep it simple. Once I tried to gather as much info before start trading. Many indicators, many news, vast analysis made me paralyzed to trade.
2. Avoid crypto trading on weekend and Friday too. Instead enjoy the holidays.
3. Never do Revenge trading, you will only trade whenever you have proper mindset.
4. Never love any asset, emotional trading will kill your investment.

Consider those tips as free gift, not financial advice. Always do your own research

Those are simple and at the same time very complex with rules because each one of them has so many intricacies and "challenges" that each trader has to go through. I have noticed that as a trader gets experienced he gets a more nuanced view on every concept that he/she has learnt. As your first rule says: Simplicity will make your trading journey less stressful. There is no need to have a bunch of indicators on your chart. You can literally make a living just by trading support and resistances. If you add too many indicators some of them will sometimes give you false readings and just confuse you, therefore you won't take the trade. Analysis paralysis is a big thing in trading and can end careers so keep calm and keep it simple.

This should be move to trading section. What you have pointed out can really help the trader if they really like to gain a profit but it takes a patience in which most of the people really hate so I assume that only few traders can follow it hundred percent.

Especially the number 3, revenge trading. What most of the traders will double their assets if they lost some so they can easily catch up to what they lost or even gain a profit. This is like greedy trading which is very unnecessary if we really like to follow the low risk trading but others are rather gambler and they didn't think the same way.

This is my problem personally that took me a long time to figure out how to fight it indeed this is a problem. Being a very short-tempered guy when I lose some money I tend to rage and a wave of greediness to get the lose back in an instant kick in and will end me losing all my remaining balance, which happened 3 times already.Loving an asset can for sure help someone to profit, yes you'll be biased about it but it will bear good results if you have control over your emotion.

how about use of Technical Analyses? some traders say this thing is very helpful. almost like voodoo stuff)))
and I think every person has its own rules.. for trades or investment..
and what worked well for you may not be good for another person because of several reasons : like knowledge base, temper, mentality and so on
but anyway, thank you for sharing

Your comment are topnotch and you made some valid points especially rule after trowing away those lagging and colorful indicators and concentrates on candlestick patterns and price action while using one or two moving average indicators to identify the trend then I began to make profits thus enabling me to twerk my strategy to suit my trading style I ensured my chart is simple thus easily analyzable for any trading set-up.

You should also include it in the list
Don't buy it while the price is still in the hype. Because you may be trapped by the sudden drop in prices.

Many trading investors are trapped in this situation because they think their prices will increase. And to keep the small traders out of the way, they stick to their pumps, and this is why they often fall victim to the Bull Trap.

I think Indicators, analysis, crypto news will help you in trading because if you rely on your own analysis, it is not possible, there must still be news to view information and indicators as notifications,
In trade it must be calm, don't panic, don't be tense, it must endure and be patient, because trading requires calm with a clear mind.

Thanks for your comment. I have said to DYOR (do your own research) before start trading anything. I just have added some points and obviously there are lot of other things. Even most senior trader may fall into trap. Cause crypto is too volatile by nature. I forgot to mention another important issue. Don't open multiple trades at a time. It seems the more you trade, the better. Actually it is possible in theory. In reality, you will have more chances to lose money. What if you make major loss in multiple trades at a time? You can't handle the loss, always

A good tip but this doesn't belong here you should move this thread to the trading section.
And for number 2 it all depends on a persons time we could enjoy our time set up some break from crypto or trading not just on weekends have some family time.
And the fourth is true we shouldn't let emotion take over our decision in trading.

I only have two rules:

1. Buy low.
2. Sell high.

Unfortunately, I tend to break the rules often. I hope everyone else does better.

You are right because, I have personally be a victim of this attack. The rules should be follow strictly and shouldn't be twisted, strictly following the rules will save us from unwanted loose and loses that could have be averted. You can also add that; don't take profits unrealistic: take profits from 1.5 or 2.5 to ensure your investments are save.

never trade based on the news
the news is the emotional speculative layer...

also by the time media are talking about it the main trades are already done meaning your late to the party and you are at the tail end of the hype

my main success is looking at the costs of mining bitcoin and treat that a 'value' and then the market price above it as the spot/speculation. if the PRICE is far far above value, your in the hype/bubble zone. if the PRICE is near value then theres not much speculation meaning your getting in before any speculation hypes up

imagine it like the ocean people only see the tides/waves but they never see/think of the natural lower water level. all they hear about is the tsunami's of speculation/volatility
       /\            hype (tsunami)
/\/\/   \   /\     normal speculation(daily tide)
______\/__    value (underlying waterline)

Thanks a lot for these free tips. I would not consider myself a good and professional trader because I am just doing it from time to time. One of the things I learned so far is that one must have a clear, concise and well-defined mindset in trading (applicable to crypto, forex, stocks, gold, commodities and derivatives) because without it a person can be liken to a boat without knowing where it is going and how to get here. One area is never be greedy because if this emotion can be taking over the chance for success is getting dimmer while losing money can be magnified. The life of a trader can be a complex labyrinth and once can easily be confused and lost if one is not properly using discipline and self-control. Cheers to all traders big and small!

everyone has different thoughts and rules, the rules you make are good but not everyone is suitable to use them, everyone has a different trading style, some are daily traders, some are long-term weekly or monthly, I think there is no problem trading on weekends or Friday, the problem is crypto is not the same as forex which will occur high impact when approaching the weekend.

there are too many rules around these days and although i think they are all good but it is best that people reach their own rules in time as they make trades. for example they have to fail a couple of times because of "revenge trading" before they stop doing it and make better decisions while not being emotional anymore.

What you mentioned has become part of the strategy of a trader except beginners, and in trading requires good knowledge and skills and is supported by a variety of different analytical methods and will likely differ from the methods you mentioned such as weekends and Fridays, not necessarily not good to trade.
and besides that I support it. ;D

Golden rules are be patient, don't hesitate, learn technical and fundamental analysis carefully, don’t take more than 2 trades in a day, be consistent, if you get negative returns for 3 successive days then take a break, Keeping emotions aside while trading and taking decisions based on analysis and research work, if price charts are not clear then avoid trading on that day, don't be afraid and take risks. However I usually use a buy and hold strategy. Only quality investments with proper diversification. no one truly knows what the markets will do and when. Its a guessing game, just don't let emotion guide you.

@franky1 Sounds that you're more a value investor like Warren Buffet than a trader. I really have respect for the people who take their time to make a thorough due diligence on a company, commodity or any kind of asset that is publicly traded. Do you have a formula or algorithm that you use to calculate the cost of bitcoin mining? If yes, would you mind sharing it with us.. or.. with just with me? :D

Same interpretation inside my head, trading don't force you to limit yourself inside but to allow you to work for yourself. Never to engaged with something that causing you stressed accept the fact that there's something that ain't fit to everyone, trading is a business that can be done treated as a hobby. If you are enjoying your mindset will be full of ideas, it will add confidence and optimistic point of views.

Trading with rules is just like having a superstitious belief when trading although I agree that I follow some rules when trading to avoid the unexpected loss. Having a better control of yourself and patience is the key to meet your target this both strategy applies to short term and long term trading. Just make sure you know what you are doing or else you might end up in the wrong path.

Having rules to limit yourself in the markets is a must have by any trader who wants to be successful long term. Otherwise you're just a gambler or if you just buy and hold you're an investor. In an environment with endless opportunities to enrich yourself you can't go by ear, you need to have a system that says to you when the market is going against you and take the risk off before you make more damage to your account. Same with profits..
Moreover if you have rigid rules the emotions are unlikely to get a hold of you to the level where you can't make an informed decision.

That's one of the very basic knowledge needed to know before investing. Others seems to be that easy to say but sometimes hard to follow. Just like number 4, sometimes we cannot really control our own emotions. It depends on how strong we can be in managing our emotions.
But there are still more that beginners need to know. I mean not only the beginners but everyone of us need to keep in on our minds.

^ These are simple advises but the fact is very meaningful. In trading, you should know about the basics before digging into difficulties just like technical analysis. That is also right that doesn't spend too much on trading or doesn't focus too much. Too much emotion will let you down in trading and probably make loses. That's why there is self-control and we should know which point we limit our selves in trading. Nevertheless. holding is the best option than trading.IMO

These are really cool ideas and I believe this strategy will make you cool down and you can enjoy your own personal moments as well.
Whenever you want to go to trading you just exam main what you you can do with your potential to shine in crypto trading field. If you are able to do it you can proceed or you can stop it.

As you mentioned, that's a basic so I think no need for a specific thread just to state what's your own rules. People do have their own preferences and they became a success to that. You can't just apply A to B to C and vice-versa.

1. What's your definition of "keeping it simple"? There are traders who follow their own criteria and lots of references, but still, a simple for them.
2. Crypto is volatile.
3. The other term is, don't chase the loss. But you know, sometimes it's good to chase loss but in a responsible way. With the purpose of chasing the loss, these traders will be more focus on winning and will do everything to make their trades successful.
4. Emotions are human nature so we can't avoid it. What people must learn here is, to control their emotion and still be a responsible trader at the end of the day.

This thread is more appropriate here: Trading Discussion (https://bitcointalk.org/index.php?board=8.0)

I like the first three points, they seem wise and helpful. They are oriented towards limiting trading in such a way that it becomes simple, leaves time for other things and prevents affective decisions. I think that there should definitely be the golden trading rules of never spending more that one can afford to lose and buying low, selling high in this list, though. And since it's a forum, mainly dedicated to Bitcoin, it pains me to see #4. Maybe it's because Bitcoin is just not supposed to be traded, but I think that people dealing with Bitcoin should have a personal connection with it, believing in it and worrying about it. Otherwise, they disrespect a great innovation and use it as if it were some useless asset on the market.

Non-technical things that tend to be difficult to control. I prefer day trading and the most difficult thing to control is emotion. When emotions start to master, strategy and analysis are not a priority, this is what makes me often over-trading. Even though I already took profit, but when I saw a little opportunity I entered the market again hoping to get more profit, but instead, on the contrary, the previous profit was lost and even capital was also down. Greedy I know this is my weakness, so I try hard to control this by always feeling sufficient, and making my own achievement a measure, not someone else's success.

Point 1 does not need to be done alone and review everything at once, between technical and fundamental analysis sometimes moves on its own. Other points can be adjusted if it does not depend on daily trading, the strategy can be changed to the long term, and weekends with downward trends are the right time to buy following the ladder pattern. the rules can be adjusted to "what can be done during this condition"

Holding is the safest option if you are not so sure with your own trading skills. These are really good and helpful advices that won't make you a stressful trader but only enjoy every moment of it. Even how simple they seem to look like, but if you're not a trader with good skills, you won't still succeed in this field. Keep on learning and don't stop learning new things through your own researches.

Not a daily trader but whenever I trade, I at least made sure I buy low and sell high. Though honestly, sometimes I thought that I bought at low but it keeps dumping, lol! Anyway, as they say that you'll have loss when you sell it so I made sure to sell it above the price.

While I would agree on not doing trade on weekends as it's more volatile than the other days. Idk, just my opinion.

What about fund management? why don't you mention. Fund management to start trading is also very important. Many people can trade even experts, but cannot manage fund well. every 100% of the capital used is only about 60% or according to your own strategy, the most important thing is there is still fund left to buy back.

trading in my opinion if you are in a good mood because if not it can affect the way we trade, take for example we have a fight with my wife / husband then we trade then it will make our psychological mess, therefore if we want to trade also must be in good condition

Dude, precisely!
the only question though, is to determine if this the right moment to sell/to buy.
usually if the market is calm it is pretty easy ( study the charts and you should be good in guessing)
but if the market is in storm, well... the risk is high then..

Not sure about 1 - it might depend on everyone, more a mentality thing. I personally like to only trade once I have all the facts, which means I need to know everything about that coin before making a move in the market.

As for the other tips, I agree - it's all mentality issues that stem from the trader being greedy, and as stupid as this may sound, just don't worry money that much. Be happy with your earnings and don't spend too much time being obsessed with crypto news, and charts and you feel like you must invest more, and spend more time making more money. Be happy.

Those tips are all based on emotions and you should never get emotional when it comes to money. Just take a look at the investors in Shark Tank and/or Dragon's Den, they never invest in something with their emotions. They go back to the basics when they analyze a new investment and if the numbers makes sense, they will invest.   ;)

I think proper research is the key to a good investment strategy, because a lot of people are just following the latest trends and whatever is pitched in the media. :P

I personally am a bad trader. I don't even have tips like yours. the only tip that I use is. trade without being emotional. but good, you have shared good tips. for a vacation, I did not specify the time. whenever I want to take a break from crypto trading. then that's when I rest and take a vacation ... because crypto is freedom .. at any time we can trade. for analysis, I personally only determine through the graph. and maybe some news too.

For the best lesson to be learned in trading, one should have the best mentor that will dictate what to avoid and to pursue. It is their experience that will make them avoid losses and push through profits. In my case, I have lost allot when I am just beginning to trade, I don't even know when to buy and sell till I get use to the market, and with the help of analysis, I can earn profits and at the same time, the mistakes that I've committed before is avoided because I already know and learned from it.

I lol'd with that last rule, it's the only one I have yet to master!
Oh the NVDA stocks I have kept, removing the "Take Profit" stops before they are hit or buying the stock a few days after I've sold it! And this because I love the brand.


Thankfully, I don't have this problem with altcoins, I've been quick to sell them when I see hints of trouble like the team acting unprofessionally, security issues (XVG being the best example), or goals not being meant repeatedly.

Bitcoin is a safe bet though, you can't go wrong loving it and holding it. 8)

Experiences can help you to grow a lot especially on trading, Traders need to have skills and the determination to grow their base capital. Set emotion aside because it is the number one reason why starting traders fail. They keep their emotions on the trade they are making, Many emotions are their especially getting fear of losing trade can make your plans go more ruined.

The OP will give you enlightenment especially if you are a newbie on trading. Hands up to malekbaba for making this post.

Absolutely agree with 1 point.Indeed having such a wide choice for investment is very difficult to adjust what is better to buy and what is better to sell.

Being have so many rules ill think it was useful for trading to be aware on the mistake that we make in our first trade in exchange. And we can make a rule also by our self as you said if we knows how to do it actually we are have different thoughts about trading so it depend on us about strategy for trading. Being emotional it is a part on us if we have big loss in trading so thats why need some rules to right our mistake.

I would rather be paralyzed to trade than to invest in something that I lose my money. If you see a truly decent investment you will do your research and not be so indecisive. A really good project will make the choice for you. I am not so sure about not trading on Friday and the weekend though. If you want to be successful you must work hard and that means working on the weekend. not trading on 3 days out of 7 is ridiculous. I do agree that you need a break to enjoy life. YOu need to enjoy some of that hard-earned crypto.

Rule of trading is never buy or invest with some altcoin have reached with higher price, you can buy many altcoin any time, but when altcoin rice have reached to top just watching and never investing, you will lost your assets and have to hold if you want to invest because after price have reached to the top just wait for price of altcoin back to lower price and wait for long time seeing back to higher price.

I don't agree completely with your first point.
keeping a knowledge of fundamentals through news never hurts.
Coming to indicators, having knowledge of various indicators always helps.
I tell you why.
Usually, no indicator works alone. There is a need of a combination of indicators for reaching to a conclusion about any trend or breakout. You can only do that if you have knowledge about various indicators. With continuous trades, then you can make distinctions and can go with the combination which best suits you.
Thus, learning various indicators is crucial.

Experience indeed is one of the most important thing you must have along with knowledge. Enough experience will help us to deal with our tradings. Regards with rules in trading first, leave our emotions out of this because this could be a hindrance and could ruin our trade. We shouldn't take any tips what to do with our trading strategies because it might not compatible. Always have a plan in making a trade, do some technical analysis before make any action to reduce the risk.

Just like what they said, trading is just like gambling but there are still bigger differences between these two. But one thing is common between them and it is having a huge patience especially if the market is too volatile just like this. You need to increase the level of your patience or else you are wasting your chances to get your targeted profit.

Traders that are loving to stay at home and enjoy being comfy are also doing it correctly. There's no rules about when to trade bitcoin or any crypto that you prefer. Because we're all free to do it but I understand that sometimes we have to enjoy those holidays and weekends and have some quality time.

But this is one of the good things in crypto, you can enjoy vacation any time you want while trading everywhere because the market is open 24/7.

number 2 seems sincere advice, I smile reading it, because not necessarily at the end of the week everyone can enjoy the weekend, even vice versa, on weekends people who are busy can start their trading. except people who have more free time, maybe they will enjoy the holidays at the weekend .. !!

Yeah right, those who have a lots of time to work with trading in the weekdays can take the holiday break on weekends, they'll be able to enjoy spending time with their love ones. Expect that after the long weekdays dealing with reading the market movements, it's a good reward for each traders to enjoy aiming for much better entertainment spending time with friends or love ones. Chill and relax after working that's help free up some stressed and have a good start once you open your position again.

In my opinion, simple rules when trading is the first to buy at low prices and sell at high prices. The second is not to be greedy for profit,
quite a small profit but often. The third one is not too fanatical about one coin, there are still many coins that have good potential. And the
fourth only use money that we can afford to lose, so if we really lose don't carry a heavy burden. That is the basic rule of my version that is
mandatory adhered to when trading.

I'm a victim of revenge trading on my early days of trading, been struggling to win back the losses even it's not that big and finding ways to do day trading and became frustrated, but maybe I really pick a wrong alts those days. Luckily, I was able to be paid by bounties that time and  so I took time restudy the market again and use my bounty as capital. Losing is part we just need to know when is the tip to stop it and target other alts.

Isn't these tips supposed to be on Trading? Anyways, I can agree completely on 1 and 4. (1) Too much information does stop you at even doing trades. Overloading yourself with speculations just makes it harder to make decisions. (4) A general rule of thumb, only trade/invest your excess funds. Don't give all in. You'll never know what will happen to that investment and doing so would be a one-shot do-or-die situation.

Revenge trading is a pretty bad one. I did it a lot when i started out.

Pretty much I'd follow my rules but if I had a bunch of losses I'd increase position sizes and just trade like crazy. It works sometimes, which makes it worse and reinforces the behavior. Discipline is just a big part of trading but so much harder after a string of losses.

I did the same mistake, or many people also get into the same situation.
have bought when it drop, then sold at a higher price, but then I have to buy bitcoin again to accumulate more, unfortunately, butcoin set a new support level and resist at high price, it means I have to buy high, lol.
But doesn't mean you'll lose in trading as bitcoin price, yeahhh we know, hold and be patient, bitcoin will rise to the moon.

I will not use in number 2 because what if the day of friday increase and you did not check or you did not trade so you lose profit.  But I agree on the number 4 because of the emotion while the mostly of the trader lose the profit or the imvestment they have on trading. Every trader must take his/her action whil they do trading to earn money not to throw only a money.

I like this, this means never save assets in the long term, if you already have a difference in profits immediately sell it.
this point sometimes people hesitate because they believe in one or several assets they can afford to grow high, and are too bad to sell.
well, this point is for trading not investment.

yes I think every trader has their own trading rules that have been believed and carried out. I myself trade principles and invest as much as you can afford to lose. and I also always do research before buying or selling coins. and the last thing I always principled is not greedy I will not wait for the price of coins to go up high to sell. when the coin has increased 30% I will sell and take profits.

when you trade it seems you really have to pay attention to the rules, there are many rules that you can pay attention to one of them is the rules at the exchange place, while the rules when trading I think it depends on your trading capital.

Simple but rather hard to do especially the last two which I had personally experienced a long time ago and of course the important part is that I learned my lesson. LOL.

If I may add, be observant. In the world of cryptocurrency, having this quiet premature market which is prone to volatility, we could learn a thing or two by recognizing the unusual movements which may attract us in riding the tide as well. I think this would come through experiences you gained through you trading ventures. Always think rationally. Happy trading everyone.

P.S. As others pointed out, this should go to the trading section of the forum.

Have their own perspective rule and that is right. But they had the same point that able to discipline their selves from emotions.
Good and perfect timing is the most important rule in trading for me, because it gives an accurate result and possible gain profit when you apply rules. OP has given his own rules and I think there are need to be added but at least it gives an idea to those who wanted to start in trading.

This rules give me a strategy for my daily trading and add some analysis. everyone has their own rules in trading but for me I observe much more in a day to keep my investment at balance. I'd rather not choose so popular at talks projects. I am focusing on coins to trade that focusing on their improvement. services, products and price. whether do you have your own scrutiny on market and have more knowledge. a wiser and smarter trader will always win in not losing much more funds. moderate it all and know every single move.

I've done that and very much happy to be with them. But most of the time, I'm not with them because of having an always busy schedule with appointments and other work related stuffs that's why, sure it's a worth holiday as usual.

I do sometimes depend on the news and that makes me feel that I'm dependent on them but sometimes I'm not. Well, we can create those rules that we can usually follow but never forget that you're doing it to make money not to be broke.

Simple and Basic, though it is better when you know how to predict when will the market gets low to execute that Buy plan, and that goes also the same on Selling plan, that what makes Trading feels like you are a CEO of your own company, you do all the complicated stuffs to earn as much money you wanted whenever you wanted.

You support yourself, you make plans yourself alone, you boss yourself around.

Trading is something that forces one to have knowledge and practice, in my case I only make one trade per day and sometimes when the market is very volatile I prefer not to trade. I also define my stop loss and my target profit. Once I get some loss I stop trading and I trade again the next day, but I trade every day, I don't care if it's weekend or not


It is necessary to have basic knowledge of technical analysis and fundamental analysis, one needs to know where is the support and resistance and the patterns of up and down trend changes in order to buy and sell.

You missed the most important part of trading and that is set a target/goal. If you bout your token at $5 and you want to let go of it once it reached $7, better stick to it no matter what the market condition is. This is the reason why there's a of traders out there who gets trapped holding a coin that reached its peak but held on to it and price dropped like a fly. Nut if you stick to the plan and sold it while price is still good, you are going to enjoy the fruits of your labor.

Also how can you sure when you sell your token at high price if you choose a right coin? Right? How the trading works if you cannot recover your money first?