Invented 100 years ago by a legendary Wall Street trader, ideal for trading crypto and especially memcoins.
1. Trade the trend – buy in a bull market and sell in a bear market.
2. Don’t enter the market if there are no clear trading opportunities.
3. Trade on major reversal points.
4. Wait for confirmation before entering the market.
5. Enter the market as soon as major turning points come into play.
6. Let profits grow. Close trades that show losses (good trades usually show profits immediately).
7. Trade with stop orders set before entering the market.
8. Exit trades when the prospect of further profits becomes uncertain (the trend has ended or weakened).
9. Trade the leading instruments in each market – trade the strongest stocks in a bull market and the weakest stocks in a bear market.
10. Let the price dictate your actions.
11. Don’t average losing positions.
12. Do not wait for your broker to force you to close a position (margin call), close losing trades on your own in a timely manner.
