Always Prioritise Money Management 💸💰
It's shocking at times to see so many people lose a ton of money simply because of lack of money management and take risks beyond their control.
Heard of this phrase " Don't put all your eggs in one basket" ?
People love giving advice here that they themselves don't follow and could barely explain how to implement it correctly. So fam I'm here to do that.
📢 Proper Money management, risk management is simply a one word theory - DIVERSIFICATION.
If you invest in different assets, then in the event of a total crash of one asset, you won't be impacted much.
Everyone is aware of what happened to Luna in 2022. Even I got a hit and my $75 worth of investment became zero. But it didn't bother me much because it wasn't even 5% of my portfolio. The day I truly realised the importance of diversifying funds. 🧘🏼♂️
📢 Now, how many beginners do I see falling into the trap of buying just 3 or 4 coins? And especially Cryptos they heard of on social media or some rookie influencer who doesn't even know trading, and therefore for which it's too late? I've seen so many and still see far too many.
I've seen so many people buying $SHIB , $PEPE only to lose everything in the end and suffer mentally because it's too late. If you're in this situation then stop buying on FOMO and immediately stop listening to incompetent and fake creators. Their followers don't matter as those are just numbers.
Buy the Cryptos before everyone talks about them.
I hope some wise brothers and sisters will understand these facts and try to apply in their trading journey.
This is my personal opinion from my past experiences. Lend your support by hitting the like & share button and follow me for more such advice. Although I've never asked before, you can also tip me to reward for the hard work going in to bring such content.
Happy Investing 🙂🎉
#MtGox #EarnFreeCrypto2024 #altcoins #BinanceLaunchpool #MemeWatch2024
