After losing consistently for almost 2 years, I have finally made peace with the fact that it is important to block the noise while trading. If you're a leverage trader, it is important to manage your risks.
Low leverage, combined with a reasonable stop loss is your best friend in crypto. Avoid low caps. They can make you rich quick but they will surely liquidate you 99 times out of 100.
If you're a long-term spot trader. The best strategy is to DCA - Dollar Cost Averaging. What you do basically is you buy a small portion of crypto coins at different times. I have lost over 12000 USD until now. If I had invested 500 Dollars a month in let's say Matic, starting when Matic was at its peak in December 2021, I would have ended up with an average buy price of around 0.6-0.7 dollars per coin. A few months ago, I could have easily reduced my position by selling some at 1.5 dollars.
But I chose the shortcut, high leverage combined with low cap shit coins and ended up losing all my capital.
My advice is to block the noise, research for good projects and go low leverage or DCA long term.
Disclaimer: Please note that this is not an investment advice. Do your own research before investing. Remember trading cryptocurrency involves high risk and you can potentially lose all your capital.
