Ben Franklin once said that by failing to plan, you’re planning to fail. This is very true in trading. Having an effective plan, strategy or system is possibly the most important part of the whole process.
That’s because an effective strategy shows you when to make trades, which assets to buy or sell, as well as how to avoid risks while making profits.
In this lesson, we’ll introduce you to some key strategic choices, including entry and exit triggers; setting trading rules; testing your strategy using historical data.
We’ll begin by covering the most important choices you need to make as a crypto trader.