50 Crypto Trading & Investing Lessons Learned

[Old God]

I dont know, was it on this forum or not, but i wanna share it with you, and i hope it will be helpful and some of advices u will notice

1. Everyone’s a genius in a bull market. Real traders can survive and even thrive in bear markets or highly volatile markets.
2. Don’t be a blind bull. ALL markets are cyclical. Don’t be afraid of pullbacks or market crashes – that’s where you can make the most money.
3. There’s a big difference between a trade and an investment.
4. Fully plan your trade before you pull the trigger on the entry.
5. Entries are important, but risk & money management is where you make or lose money.
6. Beware of get-rich-quick gurus hopping on the crypto bandwagon over the past year.
7. Decide which types of trade setups or investments you’ll take and ignore everything else.
8. Don’t assume just because you’ve made a lot of money in crypto that you can just as easily make money in other financial markets. 95%+ of stock market traders LOSE money. The game is rigged. Stick to what you know works for you.
9. The best way to day trade cryptocurrencies is – DON’T!
10. The best way to profit in any market is to find something you think has big potential early (before the general public catches on), and invest assuming you’re going to lose 100% of your capital. It’s the “angel investor” approach.
11. You can’t control the market. The only thing you can control is your entries, trade size, and exits.
12. One market participant can completely destroy “good technical analysis”.
13. Don’t blindly follow trade alerts from ANYONE, especially random people on social media or chat rooms.
14. All financial networking marketing projects are ponzi schemes, period.
15. If you make a life-changing amount of money, do NOTHING for at least 30 days.
16. Trading isn’t about picking exact tops and bottoms in a market – it’s about catching the meat of a move.
17. Don’t turn a small losing trade into a massive losing investment.
18. Don’t set daily profit target goals – set long-term performance goals.
19. Learn to survive, then thrive.
20. The best charting indicators are price action and volume. You can use others, but it won’t necessarily make you a more profitable trader.
21. Trends can go way past what seems rational.
22. Don’t try to pick tops in a market. Wait for the market to tell you when the trend is over.
23. Don’t trade in front of big news events – it’s impossible to predict how markets will react.
24. The biggest challenge for most traders is their ego, or the need to be right.
25. You can lose 50% of your trades and still be profitable if you manage risk properly.
26. The best entrepreneurs and CEO’s typically make the worst traders and investors.
27. People with the best mindset for investing typically have a career in high-risk situations like firefighters, pilots, police.
28. Avoid pump and dump groups like the plague they are.
29. You WILL make every mistake in the book. Don’t beat yourself up when you make mistakes, just learn and try not to make the same mistake twice.
30. Don’t treat crypto exchanges like bank accounts. You don’t own the coins unless you control the private keys.
31. Crypto is a 24/7/365 market. You can’t catch every trade. If you miss one, don’t worry – there’s ALWAYS another trade.
32. Don’t invest in a coin unless you understand it inside out.
33. You can make money trading the momentum and hype in shitcoins, just don’t invest long-term.
34. Stay away from coins with low trading volume and low market caps. They are easily manipulated and you can get stuck in a position.
35. Don’t trade with money you need for living expenses. It’s called “risk capital” for a reason.
36. Think of yourself as a hunter – save your ammo for the big game.
37. Crypocurrency exchanges go down when there’s high volatility. If price hits a major target or buy zone, it might make sense to place some orders BEFORE everyone else.
38. Trading and investing brings all your emotions to the forefront – fear, greed, hesitation.
39. The hardest thing to do in trading is… NOTHING. This can also be the most profitable thing to do.
40. Just because a market is in a “bubble” doesn’t mean it’s going to die. Bitcoin has been through over half a dozen big bubbles and increased in price after each one.
41. Manage your trades in a way that would leave you with no regrets no matter what the market does.
42. Learn to think like a contrarian. If you’re someone who needs to have your opinion validated by everyone around you, then trading and investing isn’t for you.
43. The shorter the chart time frame, the less reliable the chart patterns are. The longer the time frame, the more variables affect price action and the harder it becomes to predict price. My sweet spot in the daily chart for trade setups and 60-minute chart for entries.
44. Some market conditions are great for pushing the gas on every trade setup you can find, where other market conditions call for you to slam on the brakes and step away from the markets altogether.
45. 90%+ of cryptocurrencies will eventually go to zero. Invest accordingly.
46. The mental side of trading is the hardest to master, the most under-appreciated skill, and will cause you to make or lose the biggest amounts of money.
47. The 3 biggest problems for traders are over-trading, hesitating on entries, and closing positions prior to profit targets when the trade is still intact.
48. You can make a career’s worth of profit in one year or one trade – don’t feel like every day has to be a home run. Play the long game. Be patient and wait for the best plays.
49. Don’t trust anyone else to trade for you. Manage your own high-risk investments (like crypto trading) or don’t participate at all.
50. Take the news for what it is – they’re trying to get views and clicks. They’re NOT looking out for your best interests or trying to help you make money.

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[mrtryonebiggums]

6. Beware of get-rich-quick gurus hopping on the crypto bandwagon over the past year.

Ty for compiling such a list of valuable lessons, I especially enjoyed #6. Reason being there is a Youtuber named CryptoNick and he was offering a crypto course. But the dude didn't know the difference between what a public and private key was . Disgraceful and at the same time made me laugh hard because you got people who know jack shit about crypto, selling crypto courses which is certifiable insane .

[gabbie2010]

This is are major key words that will keep a trader from going astray when trading Cryptos I really learned so many lessons from the writeup I hope and belief that some of those points will serves as my trading guide.

[tora]

Good list. Number 1 is true with all investments. Number 9 is really good advice. Day trading is not a game it is serious.

[gantez]

I have no merit to give, otherwise I would have let some for you. You have made a good count to a traders mind.

I pick number 1 & 4. Number one is funny to me because I have witnessed it   When you are luckily riding on a bull market, you feel like a champ. And number is important, because if a trader does not plan before going for the order, it might taste bad.

[nydiacaskey01]

#49 goes to those who believes and even subscribes to pump and dump groups in telegram. I once joined those group when I started to trade believing that those group are really providing good calls in which coin to buy and which coin to sell. I ended up losing more money compared to trading by using my own instincts.

[Old God]

#49 goes to those who believes and even subscribes to pump and dump groups in telegram. I once joined those group when I started to trade believing that those group are really providing good calls in which coin to buy and which coin to sell. I ended up losing more money compared to trading by using my own instincts.

Shit happens m8, and our own instinct are important, if u fail, u will blame yrself instead someone

[aoihs00]

Thats a huge list and covers most of the important aspects of the trading and investment.

5. Entries are important, but risk & money management is where you make or lose money.

Yes completely true that entries are important. I always seek for multiple entries while making the trades because it secures my trade and gives me opportunity to earn profits at different level. Risk is always there and we can not really do anything about it but just to take it and work around it.

9. The best way to day trade cryptocurrencies is – DON’T!

Haha, yes I am also skeptical about the day trade and I feel that it is negative approach. Many of the people around the crypto community are loving the day trade but frankly speaking I never liked it and it never worked for me.

19. Learn to survive, then thrive.

Plus one to this one. Also, those who dont follow this one are nobody but the weak handed people. They try to thrive but with the weak hands and loose everything.

25. You can lose 50% of your trades and still be profitable if you manage risk properly.

I dont really understand this point but it seems to me that holding the crypto after being in the -50% is what you are suggesting here. This is old strategy of getting things right. But many times it breaks us.

31. Crypto is a 24/7/365 market. You can’t catch every trade. If you miss one, don’t worry – there’s ALWAYS another trade.

True.

[Old God]

https://bitcointalk.org/index.php?topic=3012607.msg30968368#msg30968368

made russian versioin if someone need it 

[timerland]

God, I wish that all newbies that invest in bitcoin can read this before actually making their decision to trade BTC.

1-9 are all extremely important points.

I think that the 2017 pump served a lesson for a lot of traders. It was all good and jolly until the big crash came in January, and then they started panicking. Clearly, they have not been prepared for a bear market, and every good trader should be able to profit from bear markets by buying in at a lower rate.

Also, number 9:

The best way to day trade cryptocurrencies is – DON’T!

Gosh, I wish that people actually take this advice. Day trading relies on mostly luck and the movements of a coin during the day doesn't really correlate to anything that is rational. But if you hold onto an investment and it's something intrinsically valuable, it will be proven by you simply holding onto that investment for the long term.

[CryptoWorld87]

Thank you for this post i realy appreciate this advices i am a small trader only and this advices works very well for me i rad it all and i will study all this in the future of my trading strategy thank you so much.

[newwest]

Thank you for this post i realy appreciate this advices i am a small trader only and this advices works very well for me i rad it all and i will study all this in the future of my trading strategy thank you so much.

This is really nice for the new or small traders who does require a help or guidance when they are struck or have queries. OP has done a good job in getting a piece together so that people can find it in a single place and if more queries that can be resolved here.

[Old God]

Clearly, they have not been prepared for a bear market, and every good trader should be able to profit from bear markets by buying in at a lower rate.

rich always get richer, in long term u should no risk much, but i think it is like addiction, if u tried once, u will try again

[Old God]

Thank you for this post i realy appreciate this advices i am a small trader only and this advices works very well for me i rad it all and i will study all this in the future of my trading strategy thank you so much.

thnx for your comment mate ^^

[iyemroker]

cool for your threads and I'm sure you have to get merit from another account.

this could be a lesson for us all to trade in cryptocurrency, and all readers of this thread must be carefully read in order to avoid misunderstanding in practice.

[Old God]

cool for your threads and I'm sure you have to get merit from another account.

this could be a lesson for us all to trade in cryptocurrency, and all readers of this thread must be carefully read in order to avoid misunderstanding in practice.

tnx for comment mate

[pey]

45. 90%+ of cryptocurrencies will eventually go to zero. Invest accordingly.

I think cryptocurrencies are very different than companies so not 90% but 99% of them will eventually go to zero or vice versa there might be a better end for the crypto market.

[richan]

These rules if followed diligently will make any one a better trader in the long run, but is theoretical and what you do when trading interface is infront of you determines how far you can go.

[Marahunter]

I dont know, was it on this forum or not, but i wanna share it with you, and i hope it will be helpful and some of advices u will notice

1. Everyone’s a genius in a bull market. Real traders can survive and even thrive in bear markets or highly volatile markets.
2. Don’t be a blind bull. ALL markets are cyclical. Don’t be afraid of pullbacks or market crashes – that’s where you can make the most money.
3. There’s a big difference between a trade and an investment.
4. Fully plan your trade before you pull the trigger on the entry.
5. Entries are important, but risk & money management is where you make or lose money.
6. Beware of get-rich-quick gurus hopping on the crypto bandwagon over the past year.
7. Decide which types of trade setups or investments you’ll take and ignore everything else.
8. Don’t assume just because you’ve made a lot of money in crypto that you can just as easily make money in other financial markets. 95%+ of stock market traders LOSE money. The game is rigged. Stick to what you know works for you.
9. The best way to day trade cryptocurrencies is – DON’T!
10. The best way to profit in any market is to find something you think has big potential early (before the general public catches on), and invest assuming you’re going to lose 100% of your capital. It’s the “angel investor” approach.
11. You can’t control the market. The only thing you can control is your entries, trade size, and exits.
12. One market participant can completely destroy “good technical analysis”.
13. Don’t blindly follow trade alerts from ANYONE, especially random people on social media or chat rooms.
14. All financial networking marketing projects are ponzi schemes, period.
15. If you make a life-changing amount of money, do NOTHING for at least 30 days.
16. Trading isn’t about picking exact tops and bottoms in a market – it’s about catching the meat of a move.
17. Don’t turn a small losing trade into a massive losing investment.
18. Don’t set daily profit target goals – set long-term performance goals.
19. Learn to survive, then thrive.
20. The best charting indicators are price action and volume. You can use others, but it won’t necessarily make you a more profitable trader.
21. Trends can go way past what seems rational.
22. Don’t try to pick tops in a market. Wait for the market to tell you when the trend is over.
23. Don’t trade in front of big news events – it’s impossible to predict how markets will react.
24. The biggest challenge for most traders is their ego, or the need to be right.
25. You can lose 50% of your trades and still be profitable if you manage risk properly.
26. The best entrepreneurs and CEO’s typically make the worst traders and investors.
27. People with the best mindset for investing typically have a career in high-risk situations like firefighters, pilots, police.
28. Avoid pump and dump groups like the plague they are.
29. You WILL make every mistake in the book. Don’t beat yourself up when you make mistakes, just learn and try not to make the same mistake twice.
30. Don’t treat crypto exchanges like bank accounts. You don’t own the coins unless you control the private keys.
31. Crypto is a 24/7/365 market. You can’t catch every trade. If you miss one, don’t worry – there’s ALWAYS another trade.
32. Don’t invest in a coin unless you understand it inside out.
33. You can make money trading the momentum and hype in shitcoins, just don’t invest long-term.
34. Stay away from coins with low trading volume and low market caps. They are easily manipulated and you can get stuck in a position.
35. Don’t trade with money you need for living expenses. It’s called “risk capital” for a reason.
36. Think of yourself as a hunter – save your ammo for the big game.
37. Crypocurrency exchanges go down when there’s high volatility. If price hits a major target or buy zone, it might make sense to place some orders BEFORE everyone else.
38. Trading and investing brings all your emotions to the forefront – fear, greed, hesitation.
39. The hardest thing to do in trading is… NOTHING. This can also be the most profitable thing to do.
40. Just because a market is in a “bubble” doesn’t mean it’s going to die. Bitcoin has been through over half a dozen big bubbles and increased in price after each one.
41. Manage your trades in a way that would leave you with no regrets no matter what the market does.
42. Learn to think like a contrarian. If you’re someone who needs to have your opinion validated by everyone around you, then trading and investing isn’t for you.
43. The shorter the chart time frame, the less reliable the chart patterns are. The longer the time frame, the more variables affect price action and the harder it becomes to predict price. My sweet spot in the daily chart for trade setups and 60-minute chart for entries.
44. Some market conditions are great for pushing the gas on every trade setup you can find, where other market conditions call for you to slam on the brakes and step away from the markets altogether.
45. 90%+ of cryptocurrencies will eventually go to zero. Invest accordingly.
46. The mental side of trading is the hardest to master, the most under-appreciated skill, and will cause you to make or lose the biggest amounts of money.
47. The 3 biggest problems for traders are over-trading, hesitating on entries, and closing positions prior to profit targets when the trade is still intact.
48. You can make a career’s worth of profit in one year or one trade – don’t feel like every day has to be a home run. Play the long game. Be patient and wait for the best plays.
49. Don’t trust anyone else to trade for you. Manage your own high-risk investments (like crypto trading) or don’t participate at all.
50. Take the news for what it is – they’re trying to get views and clicks. They’re NOT looking out for your best interests or trying to help you make money.

Great big picture summary with a lot of useful information to would-be traders. Lessons through experience are sadly more valuable especially as this bear market has painfully taught me

[Old God]

You can add merit if u like, tnx