Please share some of your hard won insights to other traders.
It can be anything - a one liner, or a chart with deep analysis.
Post your tip, advice or best practice in the comments.
Which ones to throw back, and which ones to keep. All the most expensive gear won't help you if you can't fish. And there is no point if the pond or river has no fish, or you're fishing with the wrong bait.
ASK - What am I getting out of this? Where is my goal? Where is my exit?
BE Patient - Don't panic anything
If you are not sure... DO NOTHING - Nothing is better than losing.
Bulls make money, Bears make money, Pigs get slaughtered
If you are away - STOP LOSS - Stop loss 1% including fees.
Avoid trading for the first 15-30 minutes of watching/studying charts
RISK VS GAIN!!!
Look at everything in numbers. Your BTC is a number. The amount it's worth is a number. The amount of money you accumulate is a number.
The goal is to maximize the latter. The best way to do this is by becoming emotionally detached from it.
Don't think of it as $20 dollars, think of it as just 20. At every moment, make the best move to increase your number.
Trade with an amount that stings to lose, but doesn't impact you long-term.
The feeling of loss will always outweigh the feeling of winning.
BIGGEST LOSES = Panic and Sunk Cost <<<
Every other skill or rule in trading should be in order to facilitate your well being and mental clarity. Without that, you can be the best analyst on earth and still trade like an idiot.
-Do your research into any BTC trading sites or services before putting any money in them (I've lost or almost lost BTC on 4 different exchanges)
-The site that I have been using to trade on for a few years and have never been screwed over on is Bitfinex. Use my referral link for a possible discount - https://www.bitfinex.com/?refcode=cgSJVGkGHV
-Most Altcoins are horrible for long term investment. They can be good for momentum trading though but be careful. They often have small market caps, low liquidity, and are easily manipulated.
-Trust your own analysis not the hype or the trolls