This is my first proper post on Steemit & I'm writing it mainly as a guide to stop myself from getting Rekt again and to hopefully build some wealth. I'm hoping that you may find some titbits in this article, but for God's sake please don't treat this as investment advice, remortgage your house then blame me when it goes tits up....i do not know what I'm doing....I'm a bitcoin zombie.
5 Golden Rules of Crypto Trading
🚀 Rule 1. Decide if we are in Shitcoin season
🚀 Rule 2. Check what the OG's are doing
🚀 Rule 3. Be afraid of Margin trading, but also Don't be afraid of Margin trading
🚀 Rule 4. Apply money management principles
🚀 Rule 5. Adjust your portfolio depending on what season we are in
Rule 1 - Correlation & Shitcoin Seasons
If "Yes", its OK to buy Shitcoins, If "No", don't buy Shitcoins
Rule 2 - Diversify Your Crypto News Sources
Crypto currency prices are not determined by one piece of news as the "mainstream" Bitcoin news headlines would have you believe. News does and can move a market, but the daily fluctuation in price is actually determined by a large number of things that are beyond any one news headline. Diversify your crypto news sources
Rule 3 - Embrace Margin Trading
Margin trading will get you Rekt quicker than you will get Rekt without using margin, but on the flip side the best traders fund their Lambo's with profits from margin trading.
Rule 4 - Apply Money Management Techniques
Money management can be explained as risk management, if you can reduce a particular bet risk to a small portfolio level (1%-3%) you will stay in the game, failure to do this will get you liquidated/rekt.
Rule 5. Adjust your portfolio
To get the best returns you cannot simply hodl, you need to have a portfolio and you need to gradually adjust your portfolio based on the three different crypto market conditions
Still with me? want more bumpf?.... then follow me for the long winded explanations 😫 ... thanks.
If you wanna become a bitcoin zombie like me then go here > http://top3cryptoexchange.com
My related content:
Crypto Trading 101 – Rule 1 - Correlation & Altcoin Seasonality
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