THE FIVE TRADING COMMANDMENTS
202307091224
Status:
Tags: Trading
Last night I got high on carisoprodol and lost .8 ETH in four hours. In total, I lost 1.2 ETH yesterday. Going forward, I need to set strict rules for my trades:
- THOU SHALT NOT TRADE INTOXICATED: Do not ever trade high or drunk, unless it’s a sell while in good profit.
- THOU SHALT BE CONSERVATIVE: Ape small amounts on recently launched coins (0.05-0.1 ETH). Do not FOMO with a larger buy when you realize how much you could have made if you bought that at the bottom.
- THOU SHALT NOT REVENGE TRADE: If you lose on a trade, do not try to re-enter and make it back. Move on.
- THOU SHALT TAKE PROFITS: Until you have a much larger portfolio, take your 0.1-0.2 ETH profits. You end up losing by falling into the trap of euphoria and whales dump on you, rather than you dumping on them.
- THOU SHALT TAKE INITIALS: If you’re up good on an actually good play, take out your initial entry. The rest you ride free. This applies if and only if there is good reason to believe there is another leg up.