Investing in crypto is not easy! You have to learn how to control your emotions and how to use risk management.
In this blog I want to share some tips which I learned in my journey to become a better trader. Fasten your seatbelts, it’s going to be a bumpy ride!
Always be open to new ideas
If you want to be a profitable trader, you have to stay open to ideas of others. There is not enough time to keep researching new altcoins and having few sources of information (relevant youtube channels or discord groups) is great for inspiration. It doesn’t mean you have to make trades according to them, but you will get an idea what is popular at the time and where the money flow is moving. This strategy uses HYPE TRAINs and key for making money is jumping out of the train and taking profits before it is too late. I don’t really recommend using it just by itself, because it has huge risk level.
To prevent losses you should check if the project is legit, has team of founders and compare their work with other similar projects. Than is time to think about advantages and disadvantages between these coins and to classify new project into its market cap group. After all of that you have the clue about valuation of the new project. Now is the time to invest or throw it away.
Yeah, you get it right. It takes time and many people don’t want to work, they just want to be RICH and it has to be FAST!
Thank you for reading this, please consider tiping!
And if you still don’t have BINANCE account you can use my referral link to get lower fees.
https://accounts.binance.com/en/register?ref=79704010
If you have any recommendations for me, write them in the comment section down below.
