TIPS: How to Improve Results of Bitcoin Systems

1. Define Simple Rules and Follow the Market Trend

The simpler the system rules are the better. If the system rules are too complicated, it'll be very difficult to stick to the trading rules. Complicated trading systems are also very confusing. A simple Bitcoin trade system makes it easy to follow the strategy rules.

2. Eliminate Risk Quickly and Let Profits Run

Minimizing risk is far more important than making money when it comes to online Bitcoin trading. Our first objective in trading is to make the BTCUSD trade less risky. We achieve this by only entering the high probability trading set-ups, setting stop loss orders, cutting losses quick and never averaging down, and letting the profitable trade transactions run for sometime, just long enough, but not too long, in order to increase the profits. Profitable trade transactions are only kept and held open as long as the system illustrates the trend is in place, these positions should be closed immediately once and as soon as your exit trade signal criteria is generated by the trading system.

How long you keep your trades open will depend on what type of Bitcoin trader you are, If you are a day trader than you'll only hold your Bitcoin trades open until the end of the day and close them at the end of the day even if the trend still indicates signs of continuing - this is because you are a day trader & you'll only hold open positions until the end of the day - you can't just hold on your trade positions overnight just so as to let your profits run because that is not the strategy that is specified in your trade plan.

3. ==22==Select/ChooseSelect--and--ChooseSelect--&--Choose the Right Bitcoin ScheduleTo maximize the profitability of your Bitcoin trade system find the most active market hours for Bitcoin Crypto Currency and trade during these trading times only.

4. Use Money Management RulesAlways risk less than 2% of your total account equity per Bitcoin trade. With compounding, you will be surprised to see how quickly your Bitcoin trading account grows once you start to trade with a profitable Bitcoin system.

5. Keep a Bitcoin JournalKeeping a log of all your Bitcoin trade positions will help you as a trader to become a better & better & will help you as a trader follow the trading rules of your system. A journal will also keep track of your profitable trade transactions & losses and you can analyze & interpret why a setup was profitable & why it was not.

6. Set TakeProfit Targets - Establish a daily, weekly or monthly profit targets. Close all your trades once you hit this take profit target. This will stop you from over-and will also stop you from giving back your profits the trading market. Keep your risk: reward ratio high, a 3:1 risk:reward to ratio is best. This means opening Bitcoin trades only when you've got the probability of making three times what you are risking.

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TIPS: How to Improve Results of Bitcoin Systems