☝️Top 10 Rules every Beginner Trader MUST Know (as me). // thread of 10/
1/ Fear of Missing out 😱
Do not #FOMO! You will always have another opportunity with safer entry & good risk reward. Just be patient to wait for the price to come at you!
1/ Fear of Missing out 😱
Do not #FOMO! You will always have another opportunity with safer entry & good risk reward. Just be patient to wait for the price to come at you!
2/ Do an analysis & stick to it 🧐
After you analysed the market and entered the position, you may start changing the analysis, so that you will fool yourself. Stick to your initial plan #TA
After you analysed the market and entered the position, you may start changing the analysis, so that you will fool yourself. Stick to your initial plan #TA
3/ Never Revenge a Trade 😤
If you having series of losses, you better get off the market for some time, rather than start revenge #trading in order to get instant profits, as you might loss even more!
If you having series of losses, you better get off the market for some time, rather than start revenge #trading in order to get instant profits, as you might loss even more!
4/ Always have a #StopLoss ✋
If you are new to the market, always have a hard stop which protects you from even more losses.
If you are new to the market, always have a hard stop which protects you from even more losses.
5/ #RiskReward Ratio ⚠️
Your risk reward ratio has to be 1:2 as minimum, otherwise you risk your money for nothing. As well do try to use "too good" risk reward ration ex. 1:10, you may face the difficulty to even close your position.
Your risk reward ratio has to be 1:2 as minimum, otherwise you risk your money for nothing. As well do try to use "too good" risk reward ration ex. 1:10, you may face the difficulty to even close your position.
6/ Buy #Pullbacks 🎯
If structure is #bullish, do not be fearfull to buy at supports! And opposite for the #bearish structure, sell resistances.
If structure is #bullish, do not be fearfull to buy at supports! And opposite for the #bearish structure, sell resistances.
7/ Keep learning 📚
Read books and do courses which will help you to improve your skills. Small advice: always check the info in order not to learn from pseudo experts or so called “influencers experts”!
I love what @MisterSpread says: “traders speak on chart, not on chat”❗️
Read books and do courses which will help you to improve your skills. Small advice: always check the info in order not to learn from pseudo experts or so called “influencers experts”!
I love what @MisterSpread says: “traders speak on chart, not on chat”❗️
8/ Chart is your dictionary 📈📉
Be familiar with candlestick patterns, formations and reversal signals and don’t forget to use & learn some basic, but powerful indicators!
Be familiar with candlestick patterns, formations and reversal signals and don’t forget to use & learn some basic, but powerful indicators!
9/ Compound gains 🤑
You won't become an overnight millionaire. You will lose hard if you start to rush, increase your risks and so on. Be patient and enjoy small gains.
You won't become an overnight millionaire. You will lose hard if you start to rush, increase your risks and so on. Be patient and enjoy small gains.
10/ Have a plan 🤔
At final you always need to have a plan before you enter any position. Know RR, calculate your stop-loss, and now if you can accumulate more.
@MariusDulhaniuc do you want to add anything more? ❤️
@egldrush #ShiftingPerspective #rewriteyourmind #tradingcrypto
At final you always need to have a plan before you enter any position. Know RR, calculate your stop-loss, and now if you can accumulate more.
@MariusDulhaniuc do you want to add anything more? ❤️
@egldrush #ShiftingPerspective #rewriteyourmind #tradingcrypto
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