Bitcoin Trading Psychology & Risk Management Guide

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When it comes to bitcoin trading as a beginner bitcoin trader you will need to execute your trades like a professional bitcoin trader, without any emotions when trading, or without being swayed by bitcoin price movement not that when the bitcoin price has moved up so much you decide that you now need to open a bitcoin buy trade because the upward bitcoin price move has really moved a lot pips.

So to trade bitcoin like a professional bitcoin trader - as a beginner bitcoin trader you need to transform your trading bitcoin psychology. To transform your trading bitcoin psychology then you will require to write down the bitcoin trading psychology rules in your bitcoin plan which you will follow when cryptocurrency trading.

The bitcoin example illustrated below shows how to write the bitcoin trading psychology rules

Bitcoin Psychology & Risk Management Guide

I Trade without Emotions (fear, greed, anticipation, bias, impulse, overexcitement)
I trade what my eyes see on the btcusd charts not what I feel.
I will be patient when trading.

My job description isn't to be the btcusd trading system!

It's not to decide which trades looks promising & which one doesn't.

That's the job of my bitcoin trading system. My bitcoin trading system has a set of bitcoin rules that tells me this is what I follow. Do not get caught up in bitcoin price action movement and make bitcoin rules as you go along.

MY JOB DESCRIPTION IN Bitcoin TRADING IS

To sit patiently & wait for my bitcoin system to indicate that it is time to enter a trade or it is time to exit a trade. And then with a lot of focus I execute the bitcoin trade as planned on my bitcoin trading plan.

Taking cryptocurrency trades not indicated by the bitcoin trading strategy, second guessing the trading system & not taking cryptocurrency trades given by the trading system, hesitating and getting in to a bitcoin trade late, anticipating and getting in to a bitcoin trade early are all common place in cryptocurrency and boil down to lack of faith in the trading system & not having a burning focus on accurate execution of trades.

Bitcoin TRADING GOAL: To have 100 Percentage undivided focus on mastering my ability to execute my btcusd trading system accurately.

As a trader the more you develop the ability to step back from bitcoin price movement and watch bitcoin market dis-passionately, waiting for a signal to trade, the easier it will be to witness the fluctuations of your bitcoin trading emotions without getting sucked into them and allowing these emotions to throw you off your bitcoin trading plan.

By writing bitcoin trading psychology rules like the ones above on your bitcoin plan - then as a trader you will start to follow your system & trade more like a professional bitcoin trader would if the bitcoin system you are bitcoin trading with was to be automated.

The more you follow these bitcoin psychology rules the easier it will become to trade the bitcoin market without being influenced by the various market price movements.

As a trader always make sure that you are opening a bitcoin trade because the bitcoin rules of your system have been met and a signal has been generated and not because you have seen the bitcoin price jump and so now you decide it is time to open a buy bitcoin trade transaction.

By following rules a bitcoin trading system then you will be able to trade bitcoin more like a professional bitcoin trader and follow the rules of your system & your results will improve.

Changing your bitcoin trading psychology will not be a very easy thing and this is why as a beginner bitcoin trader you must constantly make an effort to follow the rules specified in your bitcoin trading psychology section on your bitcoin trading plan until the time you master these bitcoin psychology rules and you can trade the bitcoin market without emotions and trade like a professional bitcoin trader.

To learn and know more about bitcoin psychology read the following bitcoin trading psychology & risk management guides:

Bitcoin Trade Psychology for Bitcoin Traders - Bitcoin Psychology Course - Bitcoin Trading Psychology Tutorials - Bitcoin Trading Psychology Books.

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Bitcoin Trading Psychology & Risk Management Guide

BTC USD Trade Psychology Articles