7 Tricks to Improve Your Crypto Trading Skills

Ahoy mates! Today I’m sharing 7 tricks to improve your Crypto trading skills.

1) Set Your Targets Before Hand

When you do, it helps you to limit yourself from potential losses from becoming overly greed if the price starts mooning to unsustainable levels. Set profit targets and stop-losses in advance.

2) Never Risk Too Much Capital on One Trade

You always want to have some fiat or BTC available in your account so you won’t miss out on other trading opportunities in the market. That’s why it’s not recommended to trade with your total portfolio size, instead using only certain percentage of it.

3) Be Disciplined and Patient

It’s not easy to be disciplined or patient in the vast world of cryptocurrencies. Your worst enemies are greed and fear. Greed is keeping you in long positions and fear is making you to miss out on trading opportunities. Create a plan to stick with.

You don’t need to trade every day to be successful. If there isn’t any trade opportunities that fill your criteria, it’s better to be patient and not force it.

5) Have a Strategy and Stick to It!

If you are using technical, fundamental, or any other analysis type, then you certainly need a strategy! Having a trading strategy is like your well working navigation system that helps you along the way. If you don’t have a good or tested strategy, then it’s likely time to change it.

I have written a guide on trading strategy that I like to use on a daily basis. Check it out here: “Beginners Guide: How To Day Trade Using Moving Averages.”

6) Don’t #FOMO and Buy Pumps

FOMOing into a pump is a bad habit. Greediness can get you stuck in long positions. Pumps are usually short lived and can be artificially manufactured.

Rule of Thumb: Learn to sell against pumps and when other people are #FOMOing.

7) Don’t Personalize Losses!

Instead, learn that losses are part of the game and start accepting them. Personalizing losses causes you to take riskier traders to cover up your losses. It’s better to take a small loss than to lose more. More you lose, the harder it is to gain back.

Here’s an example:

 

If you enjoyed my content, feel free to give it a clap and follow me on twitter!

My list of trading tutorials:

Lesson 1 – Beginner’s Guide: How to use Moving Averages to Day Trade?

Social:

Twitter – @YarrPiratez

Telegram – http://t.me/YarrPiratez Crypto Signals & News

Telegram – http://t.me/YarrChat Captain’s Crypto Cabin

Trade altcoins – https://www.binance.com/?ref=10803871

Tradingview – https://www.tradingview.com/u/yarr/

DISCLAIMER:
Please be aware this is not financial advice. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.