- Trading is EMOTION DRIVEN
no it is not.
just because some people who have no experience in trading turn to their emotions for solace doesn't mean trading is emotion driven! it just means those people have no idea what they are doing.
- YOU must understand the importance of RISK MANAGEMENT
understanding the importance of something is not the same as knowing how to do it right!
- YOU need to know elements of technical analysis
- YOU are also required to understand fundamental analysis
- Create a journal and record all of your trades.
these are good suggestions.
- Only trade yourself and DO NOT use auto trading bots led by a company
I don't know what you mean by the last part about company but I disagree with not using automation. it is not necessary and a beginner should NOT use it as his first step but using bots and generally automation is great.
- Use 3% of your entire balance
I strongly disagree with this one.
you should use 100% of your balance but you should not deposit 100% of your money on exchanges in first place!
you deposit what you can afford to lose and then you work wit all of it, not deposit a lot and then work with a small portion!
additionally percentages depend on how much you have invested. for example if you are starting with 0.001
BTC then 3% of it is too small to be worth anything, it may not even cover the fees.
- Look for the formula and not the feelings
there is no "formula" in trading!