ThaGame
RECEIVERS ARE GIVERS. 🌻 Pi network Mogul. Crypto Lover, Decentralized enthusiast, Manchester United in my blood. I follow back Automatically 😉
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must read💯
CryptoBuzzz
--
Don’t Make These #1 Mistake During The Crypto Bull Run.
In 2021, my journey into the captivating realm of cryptocurrency began, fueled by the enticing prospect of turning investments into substantial profits. The buzz around individuals reaping substantial gains from their crypto ventures heightened my eagerness to jump in immediately.
The allure of stashing away funds for a few months and witnessing them soar was undeniably thrilling, but my lack of experience was a significant hurdle. I found myself clueless about the intricacies of buying or selling crypto, adding a layer of complexity to my aspirations.
Here, I share five indispensable tips for crypto novices:
1. Master the Fundamentals: Initially, delving into crypto articles felt like a daunting task. While I had a vague awareness of Bitcoin, deciphering which coins held potential eluded me. A foundational understanding of crypto essentials, such as total supply, altcoins, trading volume, chart patterns, and candlesticks, proved crucial. Knowing how to navigate exchanges for buying and selling became a game-changer.
2. Stay Informed with Crypto News: The dynamic nature of the crypto space means that news can significantly impact asset prices. Regularly consuming articles and content about ongoing developments in the crypto world serves as a reliable indicator for strategic buying or selling decisions. Positive news can propel prices upward, while negative developments may trigger a downturn.
3. Risk-Averse Investing: The cardinal rule of investing only what one can afford to lose cannot be overstated. Opting for a cautious approach by dedicating a modest portion of savings allows for gradual portfolio growth while minimizing potential setbacks. Steering clear of borrowed capital ensures a more secure and measured investment journey.
4. Avoid the Cheap Coins Trap: The notion that astronomical wealth can be amassed by investing in dirt-cheap coins is a rare occurrence. While low-priced coins might seem enticing, focusing on comprehensive research into low market cap projects proves more beneficial than fixating solely on price tags. Value lies in potential, not just affordability.
5. Secure Your Profits: Watching your initial $100 investment soar to $3000 is exhilarating, but realizing those profits requires decisive action. Until profits are withdrawn and either converted to fiat or securely stored in your wallet, the potential wealth remains speculative. Avoid the pitfall of becoming the one who could have been rich if only they had capitalized on peak prices.
Embark on this crypto journey with me for more enthralling insights into the ever-evolving world of cryptocurrency. 🚀💰
The allure of stashing away funds for a few months and witnessing them soar was undeniably thrilling, but my lack of experience was a significant hurdle. I found myself clueless about the intricacies of buying or selling crypto, adding a layer of complexity to my aspirations.
Here, I share five indispensable tips for crypto novices:
1. Master the Fundamentals: Initially, delving into crypto articles felt like a daunting task. While I had a vague awareness of Bitcoin, deciphering which coins held potential eluded me. A foundational understanding of crypto essentials, such as total supply, altcoins, trading volume, chart patterns, and candlesticks, proved crucial. Knowing how to navigate exchanges for buying and selling became a game-changer.
2. Stay Informed with Crypto News: The dynamic nature of the crypto space means that news can significantly impact asset prices. Regularly consuming articles and content about ongoing developments in the crypto world serves as a reliable indicator for strategic buying or selling decisions. Positive news can propel prices upward, while negative developments may trigger a downturn.
3. Risk-Averse Investing: The cardinal rule of investing only what one can afford to lose cannot be overstated. Opting for a cautious approach by dedicating a modest portion of savings allows for gradual portfolio growth while minimizing potential setbacks. Steering clear of borrowed capital ensures a more secure and measured investment journey.
4. Avoid the Cheap Coins Trap: The notion that astronomical wealth can be amassed by investing in dirt-cheap coins is a rare occurrence. While low-priced coins might seem enticing, focusing on comprehensive research into low market cap projects proves more beneficial than fixating solely on price tags. Value lies in potential, not just affordability.
5. Secure Your Profits: Watching your initial $100 investment soar to $3000 is exhilarating, but realizing those profits requires decisive action. Until profits are withdrawn and either converted to fiat or securely stored in your wallet, the potential wealth remains speculative. Avoid the pitfall of becoming the one who could have been rich if only they had capitalized on peak prices.
Embark on this crypto journey with me for more enthralling insights into the ever-evolving world of cryptocurrency. 🚀💰
Read This
@mitropluslabs
@mitropluslabs
"Liquidation and how you can avoid it."
This write up is for newbies who found themselves or seasoned traders crying "that they have lost all their money.
Liquidation refers to the forced closing of a trader's leveraged position due to partial or complete loss of the trader's initial margin. Liquidation amplifies both your profit and loss. When you engage on a leveraged trade you are at risk of getting liquidated when the market moves against you to some degrees.
Causes of liquidation
(1) High margin high leverage.
When you use high leverage and high margin you are exposing yourself to liquidation. Even if the signal is good, signal don't just hit the target at once. it is subjected to some corrections and retracements. High leverage traders got liquidated during these periods and later the signal hits the target. Avoid high leveraged trades.
(2) Failure to use stop losses
Negligence to put stop losses in place implies exposure to liquidation. Always put stop losses in places and make sure that they are lower than your liquidation price. When you put stop losses in place and the price is going against you to some degrees. Your stop losses would be triggered and your trade would be closed automatically with some loss. It is better to incur some loss than to lose all your funds.
(3) Greed
Don't be greedy. Rome wasn't build overnight. It is a gradual process. Take the little profit you have and be contented with it. Even water is not continuous, it is made up of tiny little water molecules. Build your wealth like water and watch it grow gradually and steadily.
The first image below is of a trader who uses high leverage and high margin. Notice his Liquidation price marked by the red arrow. His Liquidation price is high he can get liquidated any time. He infact complained to me that he was liquidated.
The second and third images are of patient and contented traders. Their liquidation price and their margin is low to the extent that even if the market moves against them. They are far from being liquidated.
follow, like and share.
#Write2Earn
This write up is for newbies who found themselves or seasoned traders crying "that they have lost all their money.
Liquidation refers to the forced closing of a trader's leveraged position due to partial or complete loss of the trader's initial margin. Liquidation amplifies both your profit and loss. When you engage on a leveraged trade you are at risk of getting liquidated when the market moves against you to some degrees.
Causes of liquidation
(1) High margin high leverage.
When you use high leverage and high margin you are exposing yourself to liquidation. Even if the signal is good, signal don't just hit the target at once. it is subjected to some corrections and retracements. High leverage traders got liquidated during these periods and later the signal hits the target. Avoid high leveraged trades.
(2) Failure to use stop losses
Negligence to put stop losses in place implies exposure to liquidation. Always put stop losses in places and make sure that they are lower than your liquidation price. When you put stop losses in place and the price is going against you to some degrees. Your stop losses would be triggered and your trade would be closed automatically with some loss. It is better to incur some loss than to lose all your funds.
(3) Greed
Don't be greedy. Rome wasn't build overnight. It is a gradual process. Take the little profit you have and be contented with it. Even water is not continuous, it is made up of tiny little water molecules. Build your wealth like water and watch it grow gradually and steadily.
The first image below is of a trader who uses high leverage and high margin. Notice his Liquidation price marked by the red arrow. His Liquidation price is high he can get liquidated any time. He infact complained to me that he was liquidated.
The second and third images are of patient and contented traders. Their liquidation price and their margin is low to the extent that even if the market moves against them. They are far from being liquidated.
follow, like and share.
#Write2Earn
I Love Crypto. Welcome To a new Revolution 🔥🔥🌻
#MyFirstFeedPost Hello, Binance Square!
ITS Gonna get awesome
ITS Gonna get awesome
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