You had pretty much told the basics, but you have expanded it quite further which is nice especially for the newbies knowing what technique is it called. Seriously never ever go full all-in in cryptos, if that is how rough a player you are at poker then don't expect that it will prove the same hand in here. This is a massive market we're talking about. Looking at the chart of the conversion of Gold to USD and BTC to USD shouldn't just be seen head-on. Try to make an analysis on how the movements were made party, although it is really unstable and it could be really randomized overtime but it could help you a little on what price it could lead into next. Predict the floor, but that could take a lot of patience before you can buy at the lowest as the price still shows its rise for a mean time before further going down. Now learn to hold if the price is now showing its bull initialization, and up there you can sell/trade at high now if you felt that it is peak point or it is really the peak itself. Don't be greedy - the golden rule.


I think it shouldn't be taken that too literally. It could even take a hike for month or two. If you are a day trader then I don't think you're gonna literally follow this. #7 could be the one that needs discipline, as the primary aim from investment is to gain return, well actually that is indeed the goal of it.