10 Crypto Trading Tips Everyone Should Read

1-Never Get Greedy.

Many a times you are on a point where you earn a good profit out of your investment. However that results into greed which says ‘It will rise more’. Out of this greed we do not sell and wait for more profits. But sometimes this greed may take you in a trouble where you end up selling at the low price and earn less profits. So always remember that don’t wait more to sell your profits. At least get your investment out or sell half of the profit. This will minimize the risk of losses.

2-Never Invest in Altcoins when Bitcoin is unstable

Yes, That’s true. When bitcoin is unstable meaning when Bitcoin is rising rapidly then altcoins bleed. You have to remember that altcoins trading is profitable and safe only when bitcoin price remains stable for few days. In such situations you need to close your positions of altcoins and get it converted into bitcoin which will save you from losses.

3- Never invest everything into a single coin.

As crypto market is unstable we cannot predict which coin will gain us high profits. However if we choose only one coin and invest everything into it then it’s a risk, We are not supposed to love one coin. Its because whenever that coin will go down, we will lose more money and we have to hold it and wait for its rise. Believe us this situation is the most painful one. Solution to this is to diversify your investment so that if any coin goes down then other coins will help your portfolio to be green or less red though one or two coins are dumping.

4-Never do a panic sell.

We have seen people doing panic sell due to the price fluctuations. There are few situations where crypto prices remain stable for some time or hit all time highs and then settle down at some lower prices but it definitely rises after some time period. You don’t have to sell your holdings out of panic situation or at lower prices. Specially you should not do it for your long term holdings. At last its your hard earn money why you should burn it in lows.

5- Never buy coins on ATH.

ATH is ‘All Time High’, It’s obvious that any coin which hits all time high have to come down and it’s a proven thing. So You don’t have to buy any coins when they are hitting ATH. Rather its advised that buy coins at the lows and sell them when they starts rising.
“PATIENCE IS THE KEY”

6- Never get involved in PUMP and DUMP groups.

You will come across many groups which will promise you with providing the PUMP and DUMP signals, They promise you some great profits but 90% such PUMP and DUMP groups fails to do so. There are high chances that you lose your money in a fraction of seconds with such groups. They are simply horrible.

7- Never trade with emotions.

Trading is strictly a game of numbers and sentiments. However in order to keep yourself in green you have to keep your emotions aside and use your brain and stick to the trading rules. Once money is gone its gone forever, no one will come to you and give you your money back. So you must be very specific about your entry and exit for any single trade you do. Don’t let your emotions take the control of yourself while you trade.

8- Not using stop loss feature.

Some of the exchanges supports this feature. Stop loss will save you from big losses. We can’t simply put a watch on prices of various coins to decide our next trading move, specially the sell when price starts dumping. Stop loss will help you to sell the coin at the preset price, so that even if that coin starts dumping stop loss will sell your coin at the preset price and avoid further loss.

9- Not understanding the fee structure.

While trading you should first check what fees that exchanges charges you, there are 3 fees that you first check prominently – Maker fee, Taker fee and transfer fee. These fees will help you to save smaller amounts of your investments while you trade. After all ‘Little drops of water makes the mighty ocean’.

10- Never invest big chunks in ICOs.

We have seen the flood of ICOs coming day by day, we get fancy promos and ads on mail or on websites. However ICOs are good option for crypto investments but not all ICOs gives good returns, You need to study the ICO, check the reviews on various sites or videos and then decide whether to invest in that or not. If you decide to invest then just remember you should invest a little amount in it, more precisely less than $50 USD This is because ICOs are based on projections. They can ‘take you to the moon’ but simultaneously they are risky as well.

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