Follow Strictly while trading

[ivrynx]

There are  a lots of things which we should follow while trading. I am mentioning few of them. Please see the points below:

1. Categorize your investments and look at the long picture.
2. Only invest what you can lose.
3. Don’t be greedy.
4. Never put all your eggs in one basket. Diversify.
5. Don’t invest blindly.
6. Don’t FOMO.
7. Always pay attention to Bitcoin.
8. If you are doing any active trading, set stop losses.
9. Always learn from your mistakes.

These are nice tips, I hope a lot are reading this thread, I would also like to add, always do continuous education, though you are already gaining a lot from trading, you still need to continue reading about it, there might be some strategies that you can also try, before it is just the traditional, buy low sell high strategy, now that cryptocurrency is here, doin arbitration trading is becoming more easy and thanks to exchanges, we can do this, we can also explore other coins, those who are with Masternodes and POS, we can just trade the rewards we are getting, in other words, we bought the coins with our extra cash, and coins had given us rewards, it is like trading the coins you've gotten for extra, in way, we could say it is a win win situation.

[palle11]

These are nice tips to good trade performance. I like the last which encourages to learn from one's mistakes. This is how a trader can build their own strategy as he progresses from the mistake. Also, I didn't see patience on the list.  A trader has to build a level of patience, it is good for trade.

[matthewoz101]

And don't forget, always follow all of the coins you're invested in on Twitter. Tweets from your altcoins can influence the price so much, whether that's a potential pump or instant dump. Don't miss out on obvious signals from Twitter.

[entebah]

There are  a lots of things which we should follow while trading. I am mentioning few of them. Please see the points below:

1. Categorize your investments and look at the long picture.
2. Only invest what you can lose.
3. Don’t be greedy.
4. Never put all your eggs in one basket. Diversify.
5. Don’t invest blindly.
6. Don’t FOMO.
7. Always pay attention to Bitcoin.
8. If you are doing any active trading, set stop losses.
9. Always learn from your mistakes.

I often read these tips, but it's still hard to learn.
every point always involves emotion and this is the hardest thing to do.
Experience becomes the most decisive thing in the trade.

Yeah, emotions is also one of the biggest factor to be successful in trading. That's why you will hear experience traders saying that you should throw your emotions out of the window then you enter the world of crypto trading.

Just few comments though, for diversification, it doesn't mean that you go and invest on other coins, for me it really means that you invest outside of it, like real state properties or stocks or mutual funds. As for FOMO, yes you can do it but as long as you know when to exit. Another thing, lay down your entry and exit strategy as well so that you can mitigate your risk.

There are some unpredictable things in the trade, so it is difficult to prepare a good strategy. such as fud and some negative issues that cause prices to fall.
everyone says HOLD, the question is "until when?"

[matthewoz101]

There are  a lots of things which we should follow while trading. I am mentioning few of them. Please see the points below:

1. Categorize your investments and look at the long picture.
2. Only invest what you can lose.
3. Don’t be greedy.
4. Never put all your eggs in one basket. Diversify.
5. Don’t invest blindly.
6. Don’t FOMO.
7. Always pay attention to Bitcoin.
8. If you are doing any active trading, set stop losses.
9. Always learn from your mistakes.

I often read these tips, but it's still hard to learn.
every point always involves emotion and this is the hardest thing to do.
Experience becomes the most decisive thing in the trade.

Yeah, emotions is also one of the biggest factor to be successful in trading. That's why you will hear experience traders saying that you should throw your emotions out of the window then you enter the world of crypto trading.

Just few comments though, for diversification, it doesn't mean that you go and invest on other coins, for me it really means that you invest outside of it, like real state properties or stocks or mutual funds. As for FOMO, yes you can do it but as long as you know when to exit. Another thing, lay down your entry and exit strategy as well so that you can mitigate your risk.

There are some unpredictable things in the trade, so it is difficult to prepare a good strategy. such as fud and some negative issues that cause prices to fall.
everyone says HOLD, the question is "until when?"

The fibonacci retracement tool is very helpful for knowing when. Of course it's not a crystal ball, but it can help with safe gains and profit.

[charlotte04]

There are  a lots of things which we should follow while trading. I am mentioning few of them. Please see the points below:

1. Categorize your investments and look at the long picture.
2. Only invest what you can lose.
3. Don’t be greedy.
4. Never put all your eggs in one basket. Diversify.
5. Don’t invest blindly.
6. Don’t FOMO.
7. Always pay attention to Bitcoin.
8. If you are doing any active trading, set stop losses.
9. Always learn from your mistakes.

The most useful part of trading that I have learned is at number 9. I have been learning from my past mistakes and it took me somewhere good and I am now a profitable trader.

[Supercrypt]

There are  a lots of things which we should follow while trading. I am mentioning few of them. Please see the points below:

1. Categorize your investments and look at the long picture.
2. Only invest what you can lose.
3. Don’t be greedy.
4. Never put all your eggs in one basket. Diversify.
5. Don’t invest blindly.
6. Don’t FOMO.
7. Always pay attention to Bitcoin.
8. If you are doing any active trading, set stop losses.
9. Always learn from your mistakes.

I often read these tips, but it's still hard to learn.
every point always involves emotion and this is the hardest thing to do.
Experience becomes the most decisive thing in the trade.

Old is gold. That means experience play a vital role to be success on trading.

Experience plays a huge role but learning plays the first role and this is apart no trader want to miss out in their early days. How do you even want to know what you want to do or how to end up forming a strategy without having all the basic knowledge on the use of analysis and series of indicators to make a decision.

Emotion is normal to hit you at the first period of time you start gambling even with knowledge, but experience on the knowledge you have gained and building on it will make you even more confident in the long run, but without knowledge at all, you end up screwed and subjected to even more emotion.

[Linhkej]

There are  a lots of things which we should follow while trading. I am mentioning few of them. Please see the points below:

1. Categorize your investments and look at the long picture.
2. Only invest what you can lose.
3. Don’t be greedy.
4. Never put all your eggs in one basket. Diversify.
5. Don’t invest blindly.
6. Don’t FOMO.
7. Always pay attention to Bitcoin.
8. If you are doing any active trading, set stop losses.
9. Always learn from your mistakes.

These are things all traders know but not everyone can do it. I think we should set our own rules and train them every day.
Practice each day by trading small amounts of money and always remind yourself of self-imposed rules until it becomes instinctive. Do not need too much of the principles, just 3 principles of your own and you have to do better than others. That will lead to success. 

[rickadone]

Yeah, emotions is also one of the biggest factor to be successful in trading. That's why you will hear experience traders saying that you should throw your emotions out of the window then you enter the world of crypto trading.

Just few comments though, for diversification, it doesn't mean that you go and invest on other coins, for me it really means that you invest outside of it, like real state properties or stocks or mutual funds. As for FOMO, yes you can do it but as long as you know when to exit. Another thing, lay down your entry and exit strategy as well so that you can mitigate your risk.

Yes, if we trade with emotions we must fall. That's why we have to trade with brain/sense, not emotions.

I would rather say if we trade without knowledge first, then we will fail woefully. Knowledge guides you in your decision making as you start trading first and with that knowledge you will be able to make decisions gradually and get good at it over time with experience. There would never be any trader that would not end up having emotions when it comes to trading as long as they do not have a strategy and that would be more like them gambling and hoping that luck pulls it off for them.

[nydiacaskey01]

I would add in your list "set a target and stick it". I have lost a lot becauae of not following my initial target but instead believe that price of the coin I bought will continue to rise. Its a very costly mistake when the price suddenly dropped. I should have been happy with just 15% profits instead of negative 15%. Always plan on when to exit.

[vladimir273]

Do you know why you can invest only the money that you do not mind losing? Because you will lose them with a high probability.

[reflector]

LOL, these rules seems like we do use while we invest on gambling not trading. I always check the investment coin's potential first and then only I used to check the given rules mate.
Then when you want to invest on any crypto currency will you check all the exchange or simply goes to one exchange and buy the coin?
I suggest you to check the marketplace value on every exchange and choose best price one among that before you buy it.

[Bttzed03]

There are  a lots of things which we should follow while trading. I am mentioning few of them. Please see the points below:

1. Categorize your investments and look at the long picture.
2. Only invest what you can lose.
3. Don’t be greedy.
4. Never put all your eggs in one basket. Diversify.
5. Don’t invest blindly.
6. Don’t FOMO.
7. Always pay attention to Bitcoin.
8. If you are doing any active trading, set stop losses.
9. Always learn from your mistakes.

I think no. 7 is the most important on that list. Majority of alt coins simply reacts to bitcoin price movement no matter how good the project is.

[trumper]

You can't do it, if you do you can't make money, lol diversify, don't invest more than you afford... I don't diversify, I will invest more than I afford to lose, I will either shoot the moon or lose but not live a dog's life in the market.

[harizen]

There are  a lots of things which we should follow while trading. I am mentioning few of them. Please see the points below:

1. Categorize your investments and look at the long picture.
2. Only invest what you can lose.
3. Don’t be greedy.
4. Never put all your eggs in one basket. Diversify.
5. Don’t invest blindly.
6. Don’t FOMO.
7. Always pay attention to Bitcoin.
8. If you are doing any active trading, set stop losses.
9. Always learn from your mistakes.

All of it will be learned just by experience (the number 9 on the list). I don't even have to keep in mind on those when I first started trading. My only goal is to make it to the point that "buy low sell high" will be executed successfully since honestly at first, it's easy to say but difficult to do. Since I have a goal, I automatically learned those listed above on the way enhancing my strategy.

Bottom line, traders doesn't need to literally keep in mind those advices because while on the progress of building experience, surely they will experienced mistakes on the way. That mistakes will make them more better in terms of decision making.

[iagyei259]

Never put all your money on one coin,diversification is the key to a successful long term trading career.

[Dreamchaser21]

You must have to set things before you trade because its risky to depend on your emotion while you are trading. This is very common to newbies who are just thinking about making money without making any effort to study the market and they usually ended up with nothing. These steps are really helpful in your trading journey make sure you have this thing.

[el kaka22]

I often read these tips, but it's still hard to learn.
every point always involves emotion and this is the hardest thing to do.
Experience becomes the most decisive thing in the trade.

I guess that is where the OP missed that particular point. You really need to learn the use of indicators, and some analysis to be able to make some good decisions in the market and without that knowledge, every other tip he has mentioned will not even work for any trader. It sounds so easy and can help anyone make a good trade, but not a good decision as that can be done only with some level of knowledge that you could only have gained with what you have learned.

That number seven actually summarizes how to simply trade the altcoin market asides some of the strategies you will also need to use to trade. OP did not add always learn before you start trading as that is the only way those strategies can end up working for you anyway. Having a strategy will help you know when to enter a trade, when to active and where to set your stop losses no matter what without any form of emotion in your decisions.

[Leonard2016]

There are  a lots of things which we should follow while trading. I am mentioning few of them. Please see the points below:

1. Categorize your investments and look at the long picture.
2. Only invest what you can lose.
3. Don’t be greedy.
4. Never put all your eggs in one basket. Diversify.
5. Don’t invest blindly.
6. Don’t FOMO.
7. Always pay attention to Bitcoin.
8. If you are doing any active trading, set stop losses.
9. Always learn from your mistakes.

Very beautiful suggestions , some of them are easy to write and hard to do like "don't be greedy"
I want add a few more things :
1.don't put your stop loss too narrow
2.buy on gossips sell on NEWS

Regards!

[googs84]

Those are good points however using stop-loss is not advisable if you are making the long term trades. I mean for long term trades you should be looking at brand picture where ups and downs will be normal. In case if you put a loss at X % then your order will get executed but just after if that coin started to move up then what would you do? So its always better to chase the trade manually and in the crypto thats the most easiest way to keep up the pace. Some stupid order execution can cause big harm. Believe me im through that earlier.

However rest of the points are good. Could have been better if you would have explained them to the noobs briefly.