Golden Rules to be Successful in Crypto Trading
Cryptocurrency world can be compared to a wild jungle. If you don't know how to survive in a wild jungle, this article might help you to understand the basics of crypto trading.
1- You shouldn't act with ambition.
Because ambition is where your state of mind and body system stops.
2- Stabilized reduction in the price shouldn't have an impact on you if there is no change in conditions.
In technical analysis, the most important thing is the main trend. You should always keep an eye on it, corrections always happen, just don't panic.
3- You should ignore the signals and rumors.
Even if you are good at trading, there is always a chance to be distracted by a signal and rumor and this may cause you to make mistakes.
4- You should always check for good coins with a low price. Keep searching for potential. Don't forget that you win when you buy something, not when you sell.
5- Never go all in. This is a risky market and you might end up losing everything you got.
6- You should invest gradually. Distribute your buy and sell orders gradually.
7- Cryptocurrencies are highly volatile and you should always try to follow the market. You can use applications such as Blockfolio in order to follow your investments.
8- Don't be afraid to change your portfolio when circumstances change.
9- Never fall in love with a coin. You are not a teenager anymore, act wisely and make sure to make professional decisions.
10- Your profit targets and stop losses should be determined in advance when buying coins.
11- Always be innovative. It is not possible to know everything in this huge market, you should learn something new every day.
12- Don't be afraid to investigate and question. Curiosity doesn't kill the cat here, only makes it stronger.