Don't forget to stop-loss : Trading Tip of the Day #2
One of the biggest reasons why people abandon crypto currency trading or the stock market is because they are taking huge loses. You need to ask yourself why you lost capital. And before of that why you didn't stop your loss. I prefer to set up worst case sell orders so that I do not lose control if the market settles the wrong way. If you were wrong with your prediction, be straight and take your capital out in time.
Sponsored by https://CoinFolium.com
Your fast, easy and anonymous crypto portfolio
Never gamble or invest more than you can afford to lose is always a sound advice
Thanks for the good article
What scares me about stop losses are flood crashes like what happened to ETH recently. I'm in this for the long term and I'm HODLing my chosen coins.
And this is totally a good choice. But still you should not forget that crypto currency is still a young market and just to be careful. So if you have decided to stay in forever this is good. Some people want to do day trading and sell when it's way too late. But I will also do a tip of the day for long term holding :)