Seven tips to avoid half the pitfalls
After spending a while in the crypto scene, I've summed up some survival rules, and I'm sharing all of them with you.
$ZEC First, if your capital is low, trade less. Making a trade once a day is enough; close the software afterward. The longer you stare, the itchier your hands get, and the more you lose.
#BitcoinReboundsAfterFallingTo$59K $HYPE Second, take profits the day good news breaks. Don't buy into the hype of 'it hasn't materialized yet'; when the news hits, it's the time to offload. If you don't sell on a high open the next day, be ready to get stuck.
$币安人生 Third, go in with a short position before major news hits. No one knows which way the market will swing; if you don’t gamble, you’ve already beaten 80% of the crowd.
Fourth, never go all in. No matter how confident you are, only invest 30%, and keep 70% for a pullback. The crypto space is full of opportunities; what you need to watch for is if you still have ammo.
Fifth, don’t make trades during sideways markets. In a stagnant market, anyone who trades will lose. Wait for the momentum to kick in before you jump in; it’s not too late.
Sixth, cut losses at 3%. That’s the bottom line. If you hold on once, you’ll end up doing it again, and eventually, it’ll blow up in your face.
Seventh, keep your mindset steady. If you’re making profits, don’t get cocky; if you’re losing, don’t rush. When you rush, the market will make you regret it even more.
If you remember half of these seven tips, your account will be half as stable.