Trading Rules
Strategy and Rules
The point of these rules is to manage greed and emotions. If you don't follow these rules you WILL get liquidated sooner or later.
Market-Specific Rules
Additional considerations for different market types
Platform-Specific Rules for ByBit
Important considerations when trading on ByBit
- Understand the fee structure: ByBit has different fee tiers based on trading volume. Be aware of maker/taker fees and how they impact your profitability.
- Use appropriate leverage: ByBit offers high leverage, but this amplifies both gains and losses. Start with lower leverage until you're comfortable with the platform.
- Be aware of funding rates: For perpetual contracts, understand how funding rates work and how they can impact your positions over time.
- Set up proper security: Enable two-factor authentication and use strong passwords to protect your account.
- Understand order types: Familiarize yourself with the different order types available on ByBit and when to use each one effectively.
- Monitor liquidation prices: Always be aware of your position's liquidation price and maintain sufficient margin to avoid liquidation.