This post will help you a lot, just read until the end. Whenever the market goes down, people panic and make some common mistakes, leading to huge losses. Instead, do these things and I am sure you will not only keep yourself away from losses but also make good profits even in these types of breakdowns.
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🎯1. Stick to your plan.
A plan is very important for anything in life. Therefore, in the cryptocurrency market, it becomes very necessary. Before making any trade, make a plan to buy, DCA and sell. Then stick to this plan even if you are at a 90% loss.
🎯2. Do DCA
DCA is very important. We cannot neglect the value of DCA in trading. Every breakdown represents an opportunity to enter the market, not only to lower your entry point but to make some quick profits. So always save some bucks for DCA. DCA will help you a lot in not incurring huge losses.
🎯3. Avoid future trade
Futures trades not only increase the probability of profit and quick profit, but also increase the chances of loss. No one can predict the bottom of the collapse, so making future trades in the dump becomes extremely deadly. I have seen many people liquidate their entire portfolio due to futures trading, so avoid this in case of a crash unless you are a professional trader.
🎯4. trust yourself
Believing in yourself is a great thing. I have seen many traumas in my life. Now it doesn't affect me because I have strong faith. When you believe in yourself, you don't have to panic. When you don't panic, you don't make mistakes.
