#BeginnersGuide $BTC $ETH $BNB
Mission: Accumulate more coins, and taking advantage of the bear market.
1) Money Makes Money: Have a monthly/weekly budget, preferably a reoccurring plan so that your SPOT Trading account has the funds always available. (eg. 50€ - 1000€)
2) Keen eyes on Stable Coins: Have your favourite stable coins in sight and observe their chats regularly! I choose the stable coins because when they are doing well, other coins flourish as well - if a stable coin like BTC is doing bad then you bet that all other coins will suffer same. It is safe to say, stable coins are here to stay, therefore if you want stable gains, they are your best bet.💯
3) Invest &Risk Management: Set a Limit Order near a the low support points! If you are a beginner? It's crucial that you understand what support lines are and draw a horizontal line that indicates you obvious supports. You can draw another horizontal that indicates you where the higher price got denied. With those two lines, you will understand quick when the coin is over priced or cheap.Keep in mind, even when the price fluctuates you want a cheap entry.!!!! If your market order isn't processed, watch the charts and readjust your price or readjust your horizontal lines. Key? Be patient with the process. Some of my market orders take 24-48hrs until process. Set and forget, to avoid being emotional about it.
4) PNL: World events can affect the value of our stable coins.! Somedays your PnL maybe in reds, other days that may be in green. Don't focus on it much cause it gets reset after a certain time. And it's depending on the all-time-high and all-time-low of each coin per 24hrs. Ignore it cause the mission is to accumulate more coins. (Stable coins)
5) Consistency is Key: Check on your market orders, watch the charts of your favourite stable coins and always readjust your horizontal lines which help you understand the market progress. Each week, new limit orders - use the bear market for your advantage on the hunt for cheap entries and accumulate more of those stable coins.
Summary:
Use the bear market to get a cheap price of your favourite stable coin. The mission is to accumulate more coins and build a solid portfolio. Remember we are keeping these long term. The intentions of this strategy is safe play. In future when your portfolio has enough coins? & your understanding of the market has grown? you can sell at the next bear run or try out other sectors of the crypto trade.
6) Bonus Exercise: Play with 10% of your accumulated coins, sell them high and re-buy low again. Example: BTC/USDC - Spot trading -> Limit Order to sell high & Limit Order to re-buy at low. With each trade, your skills will sharpen. This exercise will put your skills slowly to the test.
!!!! Recall: i mentioned 10%, don't touch the rest 90% of your portfolio.
#BTC100k... #SpotTradingSuccess #GrowYourMoney #Beginnersguide
Whoever received value in these words? Congratulations! Stay on alert; The cryptocurrency market is highly volatile, and the ability to turn trades into profits depends upon various factors that can't fit in this article alone. Do an extended research before you start, last but not least: Invest carefully!
