Cryptocurrency Pitfall Rules!!!
Never go all-in! No matter how optimistic you are, always keep enough emergency funds (at least 30%-50% in cash or stablecoins). This is your spark for a comeback and also a shield against unexpected crises.
Strictly diversify your accounts: Spread your funds across different sectors (mainstream coins, potential altcoins, stablecoins) and different risk levels of investments. Don't put all your eggs in one basket; this is an eternal truth.
Set stop-loss limits: Decide before opening a position how much loss you must accept before exiting! This is the most effective means of protecting your principal, bar none. Use discipline to combat emotions.
Only invest spare money: Do not put a single cent of money that affects your living, retirement, or medical expenses into cryptocurrency! Investing is for a better life, not to ruin your life.
The biggest risk in the cryptocurrency market is not market fluctuations, but your ignorance and indulgence regarding your own risks!
Going all-in is voluntarily giving up your right to survive in this brutal game. It’s like an invisible noose that may tighten at the moment you feel most triumphant.