1. Research and understanding (taking wisdom before acting)
As Juha does before making any move, you need to understand the market well. Read about:
Different cryptocurrencies (such as Bitcoin, Ethereum...).
How blockchain technology works.
Risks associated with trading and investing.
2. Invest small amounts (as if you are testing the market)
Juha is known for not risking more than he can afford to lose. Start with small amounts and watch the market performance, especially if you are a beginner.
3. Diversity (don't put all your eggs in one basket)
Don't just focus on one coin, invest in several to balance out if one of them goes down in value.
4. Choosing the right time (smart buying and selling)
Buy currencies when their prices are low (in case of recession).
Sell it when prices rise (in boom times).
Use market analysis tools to determine the best times.
5. Day Trading vs. Long-Term Investing (The Smart Plan)
Day Trading: If you follow the market daily and have time and skill.
Long-term investing: Buy and hold currencies for the long term if you believe in their future value.
6. Use reliable platforms (choosing the right donkey for travel)
Make sure to use trusted platforms such as:
Binance
Coinbase
Kraken
Beware of untrusted platforms.
7. Beware of fraud (don't be fooled by appearances)
Don't trust offers that seem "too much".
Avoid investing in unknown currencies or unclear projects.
8. Continuous learning (learning from others’ experiences)
Follow the news, join online trading communities, and benefit from the experiences of others.
9. Exit Strategy (Wisdom when Winning or Losing)
Set a stop loss point when you lose a certain amount.
Set a profit target when you achieve a certain return.
Warning: Cryptocurrencies are not a guaranteed way to make money and may lead to significant losses. Always be aware of the risks.