Compounding interest is super powerful stuff. And with crypto trading it is reasonable to estimate doubling your income each month. That is how people can make millions in just a short period of time here. But it is also important to note that you have to minimize losses. A 50% loss takes a 100% gain to break even...
Yeah, mitigating losses is super important. Cutting your losses is the hardest part. It is hard not to fool yourself into believing a bad investment will turnaround. Not cutting your losses can turn losing 5% into losing 50% rather quickly.
So true! Why it's important to steer clear of Sh*t Coins!
I didn't even think to mention that. I know I've made money off of shit coins, but it is super easy to lose a lot. It is definitely a practice I avoid.