Veteran Trader: Don't Break These 11 Rules Trading Bitcoin and Crypto

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Experienced traders learn from the lessons of the past and develop specific trading rules to avoid making the same mistakes twice.

Revenge trading is responsible for a large portion of an emotional trader's losses.

Crypto traders watch Bitcoin for hours a day and this makes it very hard to detach after a loss and not reenter.

Trading without emotion means trading without attachment.

As a beginning trader, I used to check multiple indicators, news sources, and patterns to try to find confluence for my trades.

Having a life outside of trading is key to maintaining the proper mindset.

Going to the gym, spending time with family and friends, reading books and playing sports are all key to my trading success.

Since I am risk-averse and take very few real trades, I use paper trading to test new ideas and indicators and to keep the tools in my box sharp for when I need them.

The phrase "Catch a falling knife" describes the attempt by a trader to buy a dropping asset at or near its low point of a significant move.

Trading within a movement is far less risky than attempting to buy the bottom and sell the top.

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