Lessons I've Learned

in cryptocurrency •  2 years ago 

I've been trading cryptocurrency for a few weeks now. And over this time, I've learned a good amount of information. I'd like to take the time to share a few bullet points of the information I find useful. These tips motivate me, and keep me focused.

Buy into a crypto you love. This will help you ride the lows.

I've never been great at math. I understand that this sounds simple and perhaps it's not as crazy to you as it is for me... "You only need to double $10,000 7 times in order to have $1,000,000."

Never sell for a loss!!!! It will come back up, just wait. (HODL)

There is a term FOMO "fear of missing out" this is caused when a coin shoots up in price and you feel the need to jump on the train. I've not had a lot of success with this.

You don't need (100-200%) returns. Focus on gaining 5% each day. The average day trader shoots for .5-1% each day and are very happy with those results.

Set a goal. Setting realistic goals will ensure you stay focused and less likely to get discouraged.

Ignore the nay sayers.

Now is still the time to be very successful in trading crypto.

Good luck everyone. Hope this info helps you as it does for me.


This is not legal advice, this is just my personal documentation.

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