10 foundations of a cryptotrader (Everyone must know) 😋

These fundamentals are written everyday work of a crypto currency trader.

Each point in it is equally important for both beginners and professionals. Following these rules will help you not to lose all your money and, if properly used, will make you a truly rich person.

And so, write down the rules that should be followed by every person who decided to deal with trading in crypto currency:

1. Bitcoin is the Father. In your portfolio, it should be at least 40%. This will help you in time to buy a crashed alt and make your portfolio more resilient to market volatility.

2. Never enter the crypto currency market for all your funds, have a supply of fiat money, in order to pay off in case of a fall.

3. Never store tokens on stock exchanges. Always remember the experience of Mt.Gox. Exchange - only for orders. I bought a token, display it in the official currency client if long.

4. Do not lead on pampas. A sharp jump in the currency for the day by 50% or more is a pampa. And the higher it is, the longer the currency will fall. If you do not have time to buy in advance, throw on any Pump grid Fibonacci and measure at least 50% of the top point - this should be your next zone of procurement. Zaprygnesh now - anyway, that you shoot yourself in the hand.

5. Limit orders - this is your instrument on the stock exchanges. No scalping and attempts to instantly sell a token on the market at its sudden fall - slippage in orders and loss of money are provided to you.

6. No margin. The market of crypto-currencies is chaos from unregulated tokens and thousands of psychological factors. Therefore, it is unpredictable. On the margin immediately lose all your money.

7. Sending your money to the Internet, you should mentally say goodbye to them. For the path to which you have entered is unregulated by no one, and that is why you will not be able to present anything to anyone. All actions are only at your own risk and risk.

8. The last thing to think about: "I could earn more ..." Nobody knows to what price this or that currency will jump. You have to work out in yourself rules for fixing profits - this can be a time interval, can the achievement of certain percentages, can something else. But you need to fix the profit. As they say in poker - You need to take money from the table. And doing this, even if the price still goes up: hammer. The main thing is that you are not at a loss.

9. Using programs for technical analysis, it is necessary to analyze trends at different time intervals. Look at the 4-hour chart, then roll back to the day, then after a 3-day interval, and make a complete picture of the current price trend. Then make a decision.

10. Remember that the exchange is the psychology of the crowd. In it for success you need to do everything on the contrary. If everyone buys, it's better to sell, if everyone sells, it's better to bribe. If you went into minus in the crypto currency, until you sold it, you did not record your loss. It is better to wait until the market returns to the purchase price or even surpass it. Then you can also make a profit. But while waiting for a price recovery, you will miss the opportunities of the market.