Trading in cryptos could be v dangerous because of its nascent nature. But we all are aware that like every generation before us had an asset classwhich made them Wealthy, we are blessed with cryptos.
All we need to make sure is that we don’t loose money while trading & give it the respect it deserves.
But one can never know it all by him/her self. That’s what mentors are for. And a good teacher will always like to share everything she knows…
The following are the best advice, I have received from all the smart people I have asked for, about how to make sure I never loose my bet while trading in Cryptos
1. Distribute your funds properly and don’t go all in for one coin.
2. Reserve 10% of your total investment in BTC always. We can buy a dirt cheap coin when market crash.
3. We loose when we hop in from one coin to other because we don’t have more funds to buy the active signals.
4. You should make a habit of taking 10% profit on every coin until and unless I say you to hold for long or take high profits.
5. Keep Patience , Slow and Steady your funds will grow with time if you be persistent.
6. More greed with less funds is slow death.
7. Never buy in Fear of missing out or from Pump groups or just because your instinct says so.
8. If you miss a train , don’t try to catch running train. You will meet an accident which will cause severe injuries.
9. Don’t dream of becoming millionare overnight — That’s the illusion we all had .
10.Don’t expect any profit overnight , It may be quick or it may take sometime depends on the market.
11. Always remember to go with some set of Stop loss which will help you when market crashes real bad.
12.If you are holding for long and funds are stuck , cut your losses from shitcoins.(take advice first)
13.No profit is small , Consider 5 % profit everyday and you have fucking 150% in a month.
14.Most important. Sell 50% in a coin after it doubles where you have invested Fiat. This way you will Never make loss.
15.Follow all above rules and Enjoy making Money