introduction:
🔴 In this article, I will point out a set of procedures that please adhere to in order to learn the foundations of managing risks that could threaten digital wallets.
💠1- Before entering the world of crypto, you must learn the basics of trading, technical analysis, fundamental analysis, and follow digital currency news.
💠2- Do not trade with capital that you urgently need.
💠3- Do not invest all your money in one currency, regardless of its type.
💠4- Do not invest all of your capital at once, but divide it into separate payments, and buy at different prices, the last of which is lower than the beginning.
💠5- Stay away from ready-made recommendations and do your own research before investing in any currency.
💠6- Focus on long-term investment:
Cryptocurrencies are still in their relatively early stages, and real gains are often achieved over years, not days or weeks. Those who overcome their emotions in a calm and collected manner are often the ones who reap the biggest rewards. For those who invest for the long term it is important to focus on larger time frames. Monthly charts often provide a clearer picture of the true path of the market.
💠7- Beware of the effect of sudden fluctuations:
The sudden fluctuations of the cryptocurrency market can test even the most experienced traders, remember that seeing red on low time frames is not always a signal to sell.
💠8- Understanding market cycles:
Understanding the rhythm of cryptocurrency cycles and adapting to them can help you make more informed decisions, reducing the risk of knee-jerk reactions that you may later regret.
💠9- Track market news:
Keeping up with market news will help you stay confident in your investment decisions during turbulent times.
💠10- Diversify your investment portfolio:
Don't put all your eggs in one basket, a diversified portfolio can help you manage risks and take advantage of opportunities across different assets.
