To take trading as a business, you have to get an risk-reward management system, an in-and-out strategy, and an strict executable procedure.
In order to avoid overtrading and getting lost, I am listing 10 rules for Bitcoin and altcoin trading here.
#1 Limit the trading coins
Focus on BTC, DOGE, ETH and MAID right now, limit the trading coins to 5 any time.
Focus on what you have, what you like and what you are good at.
Only one margin trading position any time.
#2 Never chase the bull
Especially when the price is going up higher and higher every minute, you know that it is going to fall soon, very soon. So that you can try to short at the top. For this situation, don’t leave the chart until you close the long or open the short.
And also never chase the bear, don’t short when the price is falling lower and lower every minute, you know that if it is going to rise soon, very soon. So that you can long at the dip. For this situation, don’t leave the chart until you close the short or open the long.