Cryptocurrency trading is risky, and not for everyone. Here are key lessons Iโve learned:
๐ Leave Emotions Out: Trading with emotions, like frustration or desperation, can lead to rash decisions. Stay strategic and patient.
๐ก Avoid Excessive Leverage: High leverage may boost profits but also increases risk. I suggest keeping it under 5x. Spot trading is more stable.
โณ Think Long-Term: Short-term gains are tempting, but long-term investments are more sustainable. Open only 1-2 positions weekly and wait for good opportunities.
๐ฐ Invest What You Can Afford to Lose: Only invest money you can afford to lose. This reduces stress and helps maintain control even during market downturns.
๐๐ซ๐ค๐ธ๐