Hello Blurtians, How's you all!!!
Before you Start
Here are the RULES that you MUST follow to survive in the market Long Term.
1)How Much to Invest.
Don't invest at the cost of ruining your life.
Your investment should always be an almost insignificant amount. If you lose it, it should hurt a bit but not ruin your life. Don't go all in. EVER.
Don't invest more than you can afford to lose.
2)Trade Spot. Then Futures.
Practice a lot BEFORE trading.
Watch live charts, draw your levels, then paper trade.
After you're comfortable with this, trade spot for some time and only then move to Leverage/Futures.
Using leverage without spot experience is a crime.
3)Two Saviours.
You cannot and will not survive in the long term without following the two tools of capital preservation.
Stop Loss.
Risk Management.
4) Don't be a Hero to Fight the Trend.
Don't try making quick trades by fighting the trend.
Use the weekly time frame and the 50 day moving average to find the trend and only in the direction of the to the market.
5)No Good Assets.
There are no good bad assets. Don't get attached to a coin or a stock. Your aim is to make profits, to Buy Low and Sell High.
Keep your logics, attachments and emotions away and TRADE THE CHART.
That's it for today, let's meet in tomorrow Blog...