9 Rules of Crypto Trading That Helped One Trader Go from $1k to $46k in Less Than a Year
This excellent article by Kenny Li can be read in full at Hackernoon.com or via his Twitter address @kennymuli
An introduction is:
No, the successful trader is not me. I’ve gotten lucky a few times and I’m still refining and trying out strategies; on the other hand, I’m part of communities of people who trade on a daily basis to grow their portfolios, and while some of the results can be attributed to luck, a majority of it is based on fundamentals, good habits, and experience.
One of those groups I’ve joined recently is Pure Investments, where I met Miles. Pure Investments is a Discord channel where people interested in trading come to chat about cryptocurrency, market trends, the latest news, and other off-topic interests. I’ve been part of their community since late 2017, and have learned a lot from not just the analysts on the team, but also from the community as a whole.
Please note that Pure Investments, nor any other groups I participate in or actively contribute to, are not pump-and-dump groups, they are legitimate communities of cryptocurrency enthusiasts and traders. I WOULD NEVER join or give any pump-and-dump groups the time of day, nor would I ever recommend standing within 50 meters of one unless you like the smell of your own burning flesh. The reasons why are numerous and off-topic. You can DM me on Twitter or comment below if you want more detail.
The Result of Good Habits
Miles is the co-founder of Pure Investments. In May 2017, he started off by playing with $1,000, which he accumulated through saving 10% of his paychecks for a while. Today, he is at $46,000; i.e., he grew his portfolio by 46x in less than a year.
1.) Only invest what you can lose
2.) Always pay attention to Bitcoin
3.) Diversify your investment in the Cryptomarket
4.) Greed must be avoided
5.) Never trust blindly
6.) FOMO (Fear Of Missing Out ) is harmful
7.) Long Term Investment
8.) Mistakes are Tutors
9.) Use stop losses for active trading
Read the complete article at; Hackernoon.com