I want to add a spoonful of honey to this barrel of tar, where many beginner investors or traders ended up with a huge loss.
Let's break down a harmful piece of advice: ignore the chart and don't use technical analysis, you don't need it!
If you have a lot of money and such a drop, as it was a day ago is a trifle for you - then you can follow this advice and just hold the coins you already bought, buying more on the dip. (Oh, I already needed knowledge of technical analysis! Otherwise, how will you understand that there was a drop?)
But my feed is filled with whining and screenshots where people lost a quarter, half, everything, and even went into the red (on futures)!
A sound piece of advice: never invest more money in crypto than you are willing to lose. It's not even about trading, but about a simple account hack.
Diversification is your mother. Not "Your mother!", but "Your mother!"
Set limit orders to buy at low prices for those coins that you think will grow. This is a kind of stop-loss, only not for selling, but for buying. And don't forget about the regular stop!
And don't dive into futures until you learn to trade, mostly using technical analysis.
The same with sell orders on the spot. It's better to secure a smaller profit from the potential one than to go into the red.
No "Go all in"! Even in the spot market, let part be in staking, just in case. What is staking - the Internet will help. Or be ready to lose everything.
Seems like all thoughts. If I missed something - add it in the comments
Yes, and finally: use your own head, not someone else's. In a situation where you are at -50%, think first of all about how to prevent this from happening again, rather than asking for advice: "Should I hold or close positions" It depends on the coin, not someone else's opinion! How I dislike the combination of a screenshot showing -50% or more loss, and the words: "Crypto is a betting company. I got it, it's a scam! I'm leaving the market."
Personally, I earned 13% of my deposit in half a week. I lost a bit on futures, it seems I'm not ready for them yet. Otherwise, I would have made up to 20% profit. But the spot market and staking are my everything.
I wish everyone to earn enough to buy the car on the cover)
