20_Must-Read_Trading_Rules_for_Web3_Crypto_Traders

bitgetcn (35)in #binancemobile • 2 months ago

These insights are distilled from the mindset of an A8-level trader — each sentence holds immense value.

Rule 1

If I'm mistaken, I must exit promptly. As the proverb says, "As long as the green hills remain, there will be no shortage of firewood." I need to protect my capital to fight another day.

Rule 2

The primary reason traders repeatedly lose money is impatience. They abandon their trading principles and rush into positions before the major trend is evident or before identifying a manageable setup.

Rule 3

After a setback, the pain is real. Most traders, following a significant loss, seek to recover immediately by increasing their position sizes for a quick win. But this approach leads to failure. Post-loss, the correct action is to reduce size or halt trading. Your focus should be on rebuilding confidence, not recouping funds.

Rule 4

When setups meeting your profit criteria become scarce, wait patiently. If the market moves entirely against your forecast, exit the position.

Rule 5

Hold onto winning trades and cut losing ones swiftly. If you can't retain profitable positions, how can you offset losses? Many traders surrender all gains because they lack the patience to hold winners yet refuse to exit losers.

Rule 6

Overtrading is a frequent error. Some traders skip careful timing selection and enter impulsively due to market movement. This forces trades instead of waiting patiently for an edge.

Rule 7

Professionals succeed because they conduct thorough preparation before entering. Many individuals become complacent after profits, trading more frequently. Subsequent losses can escalate into major drawdowns, potentially erasing initial capital.

Rule 8

The worst trades stem from impulse. Trading's most destructive error is emotional action. Stick to your predefined signals; never alter strategy on a whim. Avoiding impulsive trades is risk control's first rule. Always plan for the worst, trade small, and cap losses at 1–2% of capital per trade.

Rule 9

Maintain calm in trading. The market, like a boxer, can strike hard unexpectedly. Losses indicate unfavorable conditions—don't rush; proceed slowly. Minimize losses to preserve capital. After a large loss, emotions are unsettled; reduce size or stop trading, then rest before re-entering.

Rule 10

Whether facing a big win or loss, keep your mindset steady. Review every trade daily for rule violations. Analyze successful trades for why they worked and unsuccessful ones for errors. Consistent performance demands deep care for each trade.

Rule 11

Most traders know the principles. True professionals adhere to them strictly, even in extreme markets.

Rule 12

Professionals achieve high win rates by approaching the market with fear and respect. This prompts them to wait for clear conditions before entry. Many enter blindly, guessing the market's next move. Professionals wait for daylight—letting the market reveal direction and striking only when odds are overwhelmingly favorable.

Rule 13

Your trading strategy must be adaptable to changing markets. Many traders cling to fixed strategies and complain when the market diverges from expectations. Why expect alignment with your plan? Life is unpredictable—so is the market.

Rule 14

Don't let profit joy cloud judgment. Trading's hardest aspect is sustaining gains. After profiting, the desire for more can lead to ignoring risk or ceasing self-questioning—a fast path to self-destruction. Be cautious in losses, but even more so in wins.

Rule 15

Master self-discipline and capital management. Trade relaxed. Exit losing positions; hold winning ones. Focus on minimizing losses, not chasing larger gains. When trading poorly, reduce size or stop; when trading well, increase size—but never enter blindly when not in control.

Rule 16

Always trade with healthy caution. In this business, success can arrive quickly but vanish faster. Destruction outpaces creation—what takes a decade to build can be lost in a day. Thus, strict self-discipline is essential at all times.

Rule 17

Most traders gamble with heavy positions. Break this habit. Historically, no one survives reckless high-leverage trading long. Keep each loss under 2% of total capital.

Rule 18

Chart-based trading resembles surfing—you needn't know why waves rise and fall. Sense the rhythm and seize the moment. Master timing to ride the waves successfully.

Rule 19

Some traders alter systems after losses. Others distrust systems entirely, overriding signals based on bias. Professionals stick to their systems. Trading isn't for thrills—it's for winning.

Rule 20

True trading masters aren't measured by momentary wins but by sustained success and survival longevity.

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