Trading and HODLing Tips

Via

I found these tips on this website and I thought I should share.

Trading Plan example

Short Term / Day trade

• No more than 2% total account balance on any one trade
• Set stop losses at 7% below current price
• Take profits at 10% gains
• Trade high volume markets for profit from volatility
• Slow and steady wins the race
• Don't get caught up in the hype/FUD listen to yourself
• Make sure you write down the pros cons of the trade
• Never make a trade for the wrong reasons
• Don't trade money you don't wanna loose

Long Term / Buy hold

• Buy in 1,2,3 bottom formations
• Make sure you never buy with money you don’t want to lose cause you will be to emotionally attached to the investment
• Never panic sell
• No more than 15% of your account balance on any one trade
• The longer you can hold the better
• Don't check on the graphs too often you might trick yourself into panic selling or buying.
• Don't sell unless you have profit
• Sell 80% of your position at 100% Gains

!!!Disclaimer by the author: This trading plan is a “Example/template” I have traded with these plans and had great success its important to customize it to your personal trading style though))!!!

Self control and trading plans / risk management is the most important thing in trading.