What are Jesse Livermore's trading rules and how can they be applied to cryptocurrency trading?

1 answers

• Kenny SellersJun 19, 2020 · 5 years ago
  Jesse Livermore's trading rules have stood the test of time and can be applied to cryptocurrency trading as well. One of his key principles is to trade what you see, not what you think. In the context of cryptocurrency trading, this means relying on technical analysis and price action rather than emotions or predictions. By analyzing charts and patterns, traders can make more informed decisions and increase their chances of success. Another important rule is to never add to a losing position. This is particularly relevant in the cryptocurrency market, where prices can be highly volatile. Instead of trying to average down on a losing trade, it's better to cut losses and move on. Lastly, Livermore emphasized the importance of staying patient and waiting for the right opportunities. In the cryptocurrency market, where prices can fluctuate rapidly, it's crucial to wait for confirmation before entering a trade. By applying these rules, traders can navigate the cryptocurrency market with more confidence and potentially improve their trading results.
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