NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Veteran Trader: Don’t Break These 11 Rules Trading Bitcoin and Crypto

Published 10/28/2019, 01:47 PM
Updated 10/28/2019, 02:01 PM
© Reuters.  Veteran Trader: Don’t Break These 11 Rules Trading Bitcoin and Crypto

Experienced traders learn from the lessons of the past and develop specific trading rules to avoid making the same mistakes twice. They stick to their rules, no matter how much temptation there is to violate them. Everyone has a different list - here are some of mine, which I keep posted next to my screen to make sure that I check them before entering a trade.

When I finish a trade, whether in profit or at a loss, I have a rule that I steadfastly stick to. I close the chart and do not look at it for 24 hours. This prevents me from revenge trading. There’s a reason the trade was closed, which means there’s likely no reason to immediately re-enter.

Continue Reading on Coin Telegraph

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.