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Once you’ve locked down the golden rule, these 10 habits and strategies can take your trading to the next level:
1. Use Stop-Loss Orders Every Time
Stop-losses protect you from emotional decisions. Instead of panicking as prices drop, your plan exits automatically.
2. Spread Your Bets (Diversify)
Even the strongest projects crash. A balanced portfolio say 40% Bitcoin, 30% Ethereum, 20% altcoins, and 10% stablecoins gives you growth without betting the farm on one coin.
3. Pay Attention to Market Sentiment
Crypto runs on emotions. Tools like the Fear & Greed Index or even social media chatter give you insight into crowd psychology. When everyone’s euphoric, pros start trimming positions. When fear dominates, they look for buying opportunities.
4. Learn the Basics of Chart Reading
You don’t need to be a technical guru, but knowing support, resistance, RSI, and moving averages will keep you from buying at obvious danger zones.
5. Use Dollar Cost Averaging (DCA)
Investing small amounts regularly helps smooth out wild price swings. It’s boring, but it works.
6. Control Your Emotions
Greed and fear wreck more accounts than bad analysis. Set your entry, target, and stop-loss before you trade and stick to them.
7. Follow the News
Crypto reacts instantly to global events. Regulatory updates, hacks, or ETF approvals can swing markets in minutes. Being informed gives you an edge.
8. Keep Your Coins Safe
Never store large sums on exchanges.
9. Watch What Big Money Does
Institutions and whales move markets. Tracking their wallet activity or ETF inflows can help you understand where momentum is building.
10. Write Everything Down
A trading journal might sound boring, but it’s one of the best tools out there. Logging your trades helps you spot patterns in your wins and losses and improve faster.
