Good evening, the usual daily post to publish my losses and profits .. The day ended with small profits, but I followed several points that I would like to share with you, whether for beginners or even traders:
First: You hear a lot about risk management, right?! Let's give an example:
You now have a currency that you want to buy to make a profit; but this currency is now at its peak, such as XRP, for example, so you should never buy it even if you are told that it will be $ 10 tomorrow, and this is for a simple reason.
The reason is that it is disturbing for any currency to reach peak after peak and keep rising all the time. It must correct and fall a little to rise after that naturally. This is called a healthy and natural correction for any currency.
So you must be patient until it corrects and falls a little, then you buy it not with all the amount you have, but gradually, and this is a strategy called DCA or the average price of the dollar.
Second: I will keep repeating it a lot, following foreign content and official crypto websites is the most important point to keep up with events and to know what will happen today for the market approximately.
Third: Do not approach currencies that you have not heard of before and do not have a large interactive audience, no matter how much you see someone saying that they will rise. I specifically mention here two currencies that I suggest thinking carefully before buying them, which are CTXC _ FIL
Thank you for reaching here ♥️
