I think the most important rules are psychology and follow the trading rules that you set out.
There were many people breaking the rules when trading, most of them failed.
Trading is an interesting job and you have to follow what you set out to do. When you go wrong, you will have to pay a high price. That's my experience in 2 years of trading.
Topic: If it's all so fragile, what's the point? - page 2. (Read 310 times)
Go for trading when you see profits,don't wait for more profits which also can harm your bankroll.
Don't trust any signals which is not going to be benefitable to us.
Don't trust any signals which is not going to be benefitable to us.
What trading rules do you swear by?
Proper risk control. I had been a massive idiot in the past. If a certain coin/token is going to pump based on my research, I put 30-50% of my bankroll on that coin/token like a mighty degenerate. Now, I only do a maximum of 5% when I'm really really certain, even thought I think 5% is too big of a risk.
Everything gone in the blink of an eye.
Weeks worth of hard work up in smoke...
Or worse.
If it's so easy to lose everything, why bother?
I've shared countless horror stories of making all kinds of stupid mistakes while trading.
It's embarrassing to admit... but some of those mistakes I've made over.. and over.. and over again...
I have always had a thick skull and been stubborn as hell.
All that pain…
Has taught me valuable lessons in how to keep myself - and my money - safe.
Trading is no different than anything else in life.
When I step into a car...
The first thing I do is put on my seat belt.
I've been doing that for so long, I don't think about it… It just happens.
Wearing a seat belt was a rule growing up.
My parents wouldn't start the car until they heard me click it.
That rule has saved my life.
Thankfully crypto isn't that dramatic.
This is only my bankroll we're talking about.
But protecting my bankroll is damn important to me.
So I wear my seat belt when I trade, too.
My top two most important day trading rules are:
- No trading session may exceed 4% loss
- No individual trade may exceed 2% loss
Those rules address my personal weaknesses, and are tailored for my strategy.
They won’t stop me from getting a trade wrong and losing money…
But they will help me prevent massive damage to my bankroll.
What trading rules do you swear by?
Weeks worth of hard work up in smoke...
Or worse.
If it's so easy to lose everything, why bother?
I've shared countless horror stories of making all kinds of stupid mistakes while trading.
It's embarrassing to admit... but some of those mistakes I've made over.. and over.. and over again...
I have always had a thick skull and been stubborn as hell.
All that pain…
Has taught me valuable lessons in how to keep myself - and my money - safe.
Trading is no different than anything else in life.
When I step into a car...
The first thing I do is put on my seat belt.
I've been doing that for so long, I don't think about it… It just happens.
Wearing a seat belt was a rule growing up.
My parents wouldn't start the car until they heard me click it.
That rule has saved my life.
Thankfully crypto isn't that dramatic.
This is only my bankroll we're talking about.
But protecting my bankroll is damn important to me.
So I wear my seat belt when I trade, too.
My top two most important day trading rules are:
- No trading session may exceed 4% loss
- No individual trade may exceed 2% loss
Those rules address my personal weaknesses, and are tailored for my strategy.
They won’t stop me from getting a trade wrong and losing money…
But they will help me prevent massive damage to my bankroll.
What trading rules do you swear by?
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