Everyone is talking about how to make 100x
But no one tells you how to avoid losing your entire capital and getting stuck along the way.
I will give you these tips just for you.
Prepare your coffee and enjoy the advice of years of experience
Here are 5 tips on how to manage risk in #crypto.
You will learn from this topic, God willing.
- How to keep your money safe
- How not to miss profits
- How to reduce risks in cryptocurrencies
1️⃣ DCA
Simply put, DCA means buying the currency regularly in small to medium quantities especially when the price falls, this way you get a better average.
Simply put, buying in stages is the best way to go in this market.
No one knows exactly when the bear market will end.
Therefore, it is necessary to always have capital to take advantage of the declines and collapses.
Don't go all in and in one coin.
The more the price drops, the more we buy (trust me you will be smiling in 2025), assuming you have bought premium cryptocurrencies and distributed your capital that way.
2️⃣ Have an exit strategy
If you don't have an exit plan, when your crypto starts to go up 🚀, you will never sell and you will eventually lose all the gains.
We have all been victims of this so by telling you how to get out of deals
Remember, you will never buy the bottom or sell the top.
This is why we enter DCA and take profit.
Topic on how to make profits effectively.
Therefore, your entry should be in parts and your exit should also be in parts, while raising the stop loss to the entry area, my dear.
3️⃣ Always avoid fear. Don't rush fear to control you.
Don't worry if the market suddenly goes up and you don't see the rise, opportunities are renewed.
There will always be another chance with a safer entry.
Patience is bitter but its fruit is sweet.
You don't want to buy the top or enter into an uncertain trade.
Decisions driven by FOMO will only lead to stress and anxiety.
4️⃣ Avoid entering the market for revenge or trying to make up for a lost trade.
This is for all futures traders.
Just be patient without rushing and making mistakes when entering.
5% profit per day is 900% profit after 6 months!
Small gains add up over time.
If you lose on a trade, take a break, and do not enter into bigger trades.
⚠️ Always use a stop loss order. Stop loss is your weapon.
🔑 Conclusion
Bad Habits to Avoid in Cryptocurrencies:
- Avoid trading too much, do not trade too much.
- Don't ignore risk management.
- Use of high leverage
- FOMO without any research
- No profit making strategy
- Invest more than you can afford to lose.
- Reinvest 100% of profits in the market