Both experienced beginners and advanced crypto-traders need to know the following basic crypto trading rules:
Avoid the greed
The greed is the biggest enemy of trading. Choosing a methodology, testing, review, consistency and compliance are the main tools of a trader who does not want to fall prey to greed. It’s never worthwhile to expect a larger increase or vice versa, a fall in price. If price prognosis is not convincing, it is better to think and stop before you make a mistake. In other words, you can enter the market by relying on real conditions, without waiting for the option that you think would be ideal for you.
Many traders get into transactions earlier because they are fearful and anticipate that the input signal might trigger. Do you think if you come in sooner, will you get a higher profit? Wrong! For a reasonable profit, you have to wait until your input signal is initiated. The point is that patience can guarantee your profit. This is true both for maintaining open positions and for waiting for more convincing signals to enter the market. At first glance it’s a simple sentence, but if you apply it, you’ll know how to avoid impulse trading on the crypto market.
Keep your eyes on the “cup” volume!
It is very important to monitor the “cup” with the quotation list, as this is the main source of information for successful trading. The volume and capitalization of the crypto market are key factors that reflect the participants’ mood. If you already know these features, you can certainly make accurate forecasts of quotations.