43 Kick Ass Trading Rules for Bitcoin and Crypto Trading

43 Kick Ass Trading Rules for Bitcoin and Crypto Trading
43 Kick Ass Trading Rules for Bitcoin and Crypto Trading

My Bitcoin related podcast episodes: Roger Ver (ep. 600), Michael Covel (ep. 616), Andreas Antonopoulos (ep. 335), Jeffrey Tucker (ep. 591), Brad Rotter (ep. 177) and Ryan Moran (ep. 601).

43 Kick Ass Trading Rules for Bitcoin and Crypto Trading

These are some of my favorite money-making gems pulled from the historical wisdom of trend trading pioneers Richard Donchian, William Dunnigan, Amos Hostetter, Jesse Livermore, Roy Longstreet, and Dickson Watts all for the modern day Bitcoin trader:

  1. Don’t fight the Bitcoin tape!*
  2. Like sharp instruments and strong spirits, leverage confers many benefits, but only when used with care.
  3. Limit losses and ride profits, irrespective of all other rules.
  4. Of all the speculative blunders, there are few greater than trying to average a losing game.
  5. Always sell what shows you a loss and keep what shows you a profit.
  6. You can’t force Bitcoin into giving you something it doesn’t have to give.
  7. Talk is cheap and Bitcoin rumors are even cheaper.
  8. Courage in a speculator is merely the confidence to act on the decision of his mind.
  9. A loss never bothers me after I take it. But being wrong, not taking the loss, that is what does the damage to the Bitcoin pocketbook and to the soul.
  10. The Bitcoin trend is evident to a man who has an open mind and reasonably clear sight.
  11. In a narrow market, when price moves within a narrow range, the thing to do is to watch the market, read the Bitcoin tape to determine the limits of prices, and make up your mind that you will not take an interest until the price breaks through the limit in either direction.
  12. Watch Bitcoin with one objective: to determine the direction of price tendency.
  13. Bitcoin prices, like everything else, move along the line of least resistance.
  14. It cost me a million dollars to learn that the dangerous enemy to a trader is the susceptibility to the urging of magnetic personality combined with a brilliant mind.
  15. Have a profit? Forget it. Have a loss? Forget it even quicker.
  16. It was never my thinking that made the big money for me. It was my sitting, my sitting tight.
  17. There is only one side to the Bitcoin market and it is not the bull side or the bear side, but the right side.
  18. If you don’t know what’s going on, don’t do anything. Bitcoin is never wrong, opinions often are.
  19. Don’t be too curious about the reasons behind Bitcoin moves. The smarter you are, the longer it takes.
  20. When time is up, markets will reverse.
  21. Don’t expect the Bitcoin tape to be a lecturer. It’s enough to see that something is wrong.
  22. Don’t imagine that Bitcoin that once sold at 17000 is cheap at 15000.
  23. A man does not swear eternal allegiance to either the bear or bull side of Bitcoin. People believe what it pleases them to believe.
  24. Trend followers plan when they will get out before they ever get in. Know every day what your portfolio is worth.
  25. Calculate what your risks are on any given day for all Bitcoin positions.
  26. Controlling risk is not the same thing as avoiding risk. If managing risk is an integral part of your philosophy, when your risk level goes up or down, you simply adjust.
  27. Buy Bitcoin market strength and sell market weakness.
  28. Keep a positive attitude, no matter how much you lose.
  29. Don’t take the Bitcoin market home.
  30. Dream big dreams and think tall. Very few people set goals too high. A man becomes what he thinks about all day long.
  31. In the world of money, in a world shaped by human behavior, nobody has the foggiest notion of what will happen in the future. Mark that word. Nobody.
  32. When the Bitcoin ship starts to sink, don’t pray…jump!
  33. Assimilate into your very bones a set of trading rules that works for you. Thou shall not trade against the Bitcoin trend up or down.
  34. There is nothing new on Wall Street. There can’t be, because speculation is as old as the hills.
  35. Whatever happens in Bitcoin today has happened before and will happen again.
  36. An ability to shift on a dime in Bitcoin is critical when shifting time comes.
  37. A common deception—self-deception.
  38. Fools try to prove that they are right. Wise men try to find when they are wrong.
  39. All see; few observe, fewer still compare.
  40. The foolishness of the many is the opportunity of the few.
  41. The man who conforms never transforms.
  42. Some men are alive after they are dead; others are dead while still alive.
  43. The unpardonable sin–not to make money in Bitcoin.

Lastly, consider William Worthington Fowler’s wisdom circa 1870:

“To the merchant and banker, it is a financial centre, collecting and distributing money, regulating the exchanges of a continent and striking balances of trade with London and Frankfort. To the outside observer and novice, it is a kind of work-shop thronged by cunning artisans who work in precious metals, where vessels of gold and silver are wrought or made to shine with fresh luster, and where old china is fire-gilt as good as new. The moralist and philosopher look upon it as a gambling-den, a cage of unclean birds, an abomination where men drive a horrible trade, fattening and battening on the substance of their friends and neighbors—or perhaps a kind of modern coliseum where gladiatorial combats are joined, and bulls, bears, and other ferocious beasts gore and tear each other for public amusement. The brokers regard it as a place of business where, in mercantile parlance, they may ply a legitimate trade, buying and selling for others on commission. To the speculators, it is a caravansera where they may load or unload their camels and drive them away betimes to some pleasant oasis. To the financial commanders it is an arsenal in which their arms and chariots are stored, the stronghold to be defended or besieged, the field for strategy, battles and plunder.”

Follow these trend following rules and you can make a money up and down and up and down in Bitcoin.

Note: Proven trading systems for Bitcoin trading.


*What’s tape? The old time way (pre-internet) to get stock quotes:

Stock Quotes Before Internet
Stock Quotes Before Internet