Have you heard about having a strategy?

But what does it actually mean?

It’s about planning what you intend to do.

Do not establish a strategy by watching a soaring chart, but rather determine your goal and action plan in advance.

For example:

I have $100. Watching the market, I noticed that it fluctuates between $100k and $106k.

My assumption: I buy when the price drops to $101k and sell at $105.

If I bought and the price dropped lower, I do not panic, but wait until it reaches $105. When I sold and the price reaches $107 and seems to be rising, I do not try to catch it, but wait for my price.

This is just an example, but the point is to establish a strategy rationally, and not follow the voice of your heart.

If you have a strategy, stick to it. But do not establish it once and for all. The crypto market is like a living organism, constantly evolving. So observe and make adjustments to your strategy if necessary.

It would be good if you did not trade all your funds. When you decide to buy something, establish how much you are allocating (e.g., 10-30%). When you buy and the price rises, restrain yourself from buying more. It’s possible that by buying more you would gain more. But that's okay. Through consistency, you learn to control your emotions.

However, when the price drops, you have the opportunity to buy more (as long as your strategy allows for it).