I have lost so much. I want to quit crypto for good.
A student from my free class sent me this.
90% of the time, when you encounter persons that says they are into crypto, they usually do not know what they are doing.
Can they place a trade? YES
Do they know what must be done before deciding to place a trade? NO
DO they understand risk management? NO
Do they have a trading plan or a risk management plan? NO
Can they do basic chart analysis? NO
If you find yourself in this category, then you need to stop, go back to the learning seat and invest yourself in learning.
You should not be trading.
One of the worst mistakes you can make is rushing into trading because other are trading and when you start losing money, you become frustrated and give up.
Believe me when I say crypto is very profitable BuT it is not a get rich quick scheme as many have been made to believe.
So you may ask, What is Crypto trading?
Well, crypto trading is
1. Risk management
2. Risk management (I had to repeat this for emphasis)
3. Research (repeat that)
4. Analysis
5. MINDSET (Read that again in capital letters)
So if you crash into crypto believing to get rich quick, you will most likely crash and burnout.
Therefore if you want to remain consistent and profitable in the crypto space, take the conservative approach and REMEMBER Cryptocurrency is a highly risky business and as such one of the first things you must learn is proper risk management.
Till Next time
#BullorBear #BinanceLaunchpool #Nonfarm #BinanceLaunchpool #BitcoinHalvingDrama
