Two options…
Basically, we have two options…
1.- We enter a crypto and buy thinking in the long term, without leverage, and since we do not need the money, we are only willing to exit once we obtain a profit that we like. We are willing to wait days, weeks, months, years… we are not willing to sell at a loss, only at a profit.
2.- We enter a crypto without a clear exit plan, and upon seeing it drop, nerves and desperation take over. We end up exiting with losses and if we repeat that pattern several times, one day we run out of capital.
Of course, there are other options:
3.- We enter a crypto with a stop loss and a take profit, so we know when to exit and when to cut the loss. For this, you need to understand the charts well, otherwise it would be almost option 2, your stop losses will always get activated, and one day you will run out of capital.
4.- We enter futures, with leverage. It’s like a casino, you can win a lot (I have won a lot) and you can lose everything (I have lost everything). For some time now, I prefer to sleep peacefully and enjoy life, so I don’t go there.
Either way, make sure that investing in cryptos is not something that affects you emotionally or psychologically… Take care of your mind, your well-being, your family.
Invest only what you are willing to lose… But have a strategy, whatever you want, but have one. I invest in spot, without leverage, on a timeline that allows me to sell generating profits, I am not interested in selling at a loss, and I have time to wait for the situation to reverse if everything goes wrong.
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