Explore the mix of my investment portfolio. Follow me to see how I invest! 5/ Mistakes you should avoid while investing in cryptocurrencies.
And I will tell them from least important.
To the most important.
The fifth mistake / You put all your money into one currency.
Lack of diversification will expose you to significant losses... Spread your investments to protect yourself.
(You will find a post of mine that tells you the best currencies that should be in your wallet)
The fourth mistake / You chase quick profits....
To avoid losing quickly, always be patient.
The third mistake / You enter the market without understanding it well... I mean, if you don't understand what market value or liquidity means and other common terms, learn first.
The second mistake / You buy a currency just because you saw someone talking about it... Wrong... You must do your own research and see the project team... Is the currency inflationary or not... Where is the project heading... After that, you can buy it from Binance... Don't go buying from obscure platforms that no one has heard of before, especially for every beginner trader.
These two candles are confirmation candles, meaning they confirm the price, whether it goes up or down.
The candle on the left is called the hammer candle. If it comes after a downtrend, it means that the price will rise. The two green candles on the right are called engulfing candles. Why?
Because it engulfs the previous candle which is red, and the characteristics of the red candle are that it has two small wicks, an upper wick and a lower wick, and a large body compared to the wicks. This all happens in a downtrend, and in an uptrend, the colors of the candles are reversed.
