The cryptocurrency market is a place where opportunity and risk converge. Some people change their lives overnight, but many also lose their accounts in just a few hours. If you are new to the market or on a journey to learn, the following 5 principles will help you minimize mistakes and go the long way.
1.🌹🌹🌹 Prioritize risk management over profit making.
Absolutely no all-in: Break down capital to have more opportunities to handle situations.
Always set stop-loss: Limit losses to avoid being "swept away" by the market.
Take profits at each milestone: Don't wait for the "moon to rise", protect your gains when possible.
2.🌹🌹🌹 Clear strategy – Know your trading style.
Scalping / Day Trading: If you have time and can handle pressure well.
Swing Trading: For trend followers, holding positions for a few days to a few weeks.
Long-term hold: With strong foundation coins like BTC, ETH, SOL... and trust in blockchain technology.
3. 🌹😘🌹Regularly update news & technical analysis.
Keep an eye on macro news: FED interest rates, news from SEC, activities of the "whales" – all strongly affect prices.
Understand and use indicators: RSI, MACD, EMA, Bollinger Bands... are weapons to help you read the market more accurately.
4.🌹👍🌹 Keep a cool head – A strong mindset is an advantage.
No FOMO: Buying out of fear of missing out is the fastest way to... buy at the peak.
No Panic Selling: Stay calm when the market is on fire – sometimes it's an opportunity.
Follow discipline: Trade according to the outlined plan, not driven by emotions.
5. 😘😍🌹Prioritize security and choose reputable exchanges.
Exchange: Should choose Binance, Coinbase, OKX, Bybit... avoid platforms lacking transparency.
Two-factor authentication (2FA): Mandatory if you don't want to lose your account due to a wrong click.
Cold wallet: For long-term investments, transfer to hardware wallets like Ledger, Trezor to increase security.
💡 Summary
The crypto market is a long journey, not a gamble. Knowledge, discipline, and a strong mindset are the weapons that help you survive and thrive amidst turbulent waves.
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