2021-03-09 00:46:31
Important rules
1) Never invest all your money in 1 coin or asset .
You might think like - I’m gonna buy this one , it’s gonna pump 2x and my investment will double .
But you have to remember that
Anything can happen in this market . One bad news can drop your portfolio -20-30% if you are invested in just 1 coin .
2) Diversify -
Always divide your money in different assets . Example
Btc - ETH - LTC - LINK etc
If BTC pumps %20 and ETH, LTC , LINK are just sitting still ,
You can move your BTC gains to ETH , LTC , LINK which haven’t pumped yet , This is also called flipping . According to us this is on of the best technique to increase your portfolio
3) in crypto Invest the amount you are willing to loose -
Never take loans or credits to invest in crypto . Market is uncertain and no one knows what is going to happen .
Charts and analysis can show the direction but cannot predict the future .
4) Never fall in love with your coin -
If you fall in love with a coin ,
You wouldn’t want to sell it easy and might have unrealistic 20-30x targets . But sometimes what happens is , all other coins are going 2x -3x while you are stuck in the coin you love which have hardly moved .
5) Book profits and stop loss -
Before entering the trade know where you will be happy to sell
It can be 20-30-50-100%
And where you will cut your losses and leave the trade ,
might be -7% -10% . No one knows the top or bottom of the market so sell into the movement. You can sell your coin at 80% and it goes to 100% you need to remember that you already made 80% and your portfolio have grown .
6) Trading is a War -
Someone’s profit is someone else’s loss . Buyers are fighting with sellers and don’t expect mercy .
7) never FOMO buy something -
Never buy into crazy hype of the project . Always do your own research.
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