9 tips to live by when trading

Learning a skill takes hours of watching lectures from experts and reading long texts.

Trying to absorb all the information consumed.

Then slowly removing the useless bits and only keeping the important parts.

Always keeping the fundamental truths in tact.

That’s why I’ve compiled 9 tips after spending 7 years trading and investing.

To remind myself of the fundamentals no matter how far along I go.

Here are 9 tips to live by when trading.

01 "idle hands are the devil's workshop"

Stay busy.

Boredom leads to overtrading.

Research. Write. Build something. Go touch grass.

Once you place your bets, you need to leave it alone to marinate. Go get your dopamine fix somewhere else.

02 Concentrate to make it, diversify to keep it.

It’s not simply about buying the right coins.

Did you enter with SIZE?

03 If it’s good enough to screenshot, it’s good enough to take profit.

04 Pumpmentals > Fundamentals.

Utility doesn’t matter.

Mindshare and attention does.

05 Ride the trend, not fade momentum.

There’s no such thing as “too expensive” in a bull run.

As long as it’s still in an uptrend… you buy high and sell higher.

06 The playbook for buying dips:

Minimum 50% retracement → liquidation candle → range → sweep of range lows/breakout of range → buy.

Catching falling knives feels like the most exciting/best thing to do for 5 minutes before you start regretting your decision.

07 Perfect = following your plan.

As long as you have a plan (entry/exit) and you follow it to the tee…

That’s already perfect execution.

You cannot control external results, only your inputs.

When you try to base your “success” off final results, you’ll be disappointed.

08 Every choice you make in trading is painful.

No stop loss and the coin ends up going to zero is painful.

Leaving it be and seeing another coin go 10x is painful.

Cutting the trade and seeing it go 10x is painful.

Pick your pain, or the market will pick it for you.

09 Always have an invalidation.

Buying something without any form of invalidation = hoping it’ll go up.

This will work for a period, until it doesn’t.

Then you’re stuck holding coins -90% with no way out.

Keep these in mind because they will always remain true regardless of market cycles / conditions.

Nikola Daskalov

P.S.

I believe it’s best to tackle the start of the year as strongly as possible.
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