#DiversifyYourAssets Risk management in the crypto market – The survival guide amidst the storm
The crypto market is not a place for the faint-hearted. Prices can pump 20% this morning and dump 30% tonight – therefore, risk management is not an option, but a necessity.
First principle: Only use money you can afford to lose. Don’t borrow to go all-in because of FOMO.
Second: Set stop-loss – don’t let hope make you wipe out your account. Cutting losses is not failure, but a valuable lesson.
Third: Diversify your portfolio, don’t put everything into one coin that “everyone says will go x10”.
Finally, always remember: preserved money is real money. Earning a little but consistently is better than doubling your money and then going into the negative.
Trade like a survivor, not a gambler.