Everyone liked the story of Coin X. Because it’s vital).
To understand the material above, first read about coin X from the link below.👇
But how can you avoid falling into these traps? How about learning to make money from those who fall into them?
1. Separate the investment and speculative parts of the portfolio. In the investment part of the portfolio, coin X should lie quietly and wait for a price of 30-50-100. In the speculative part, you can safely catch short-term movements.
2. if coin X moves in the range of 7-10 (as described in the post at the link), then positions with leverage make sense to open around 7, with topping up at 5-6. For 9-10, these positions should be fixed, or a small part should be left. But you definitely don’t need to open them.
It makes sense to open short positions at 9-10, with a short stop in the area of 10.8-11. Around 7 and especially below they should not be opened under any circumstances.
3. On the spot, purchases of X can be made even above 7. But the general rule is that the lower X, the greater the volume. Maximum purchases should not be at 9-10, but at 8-7, or below 7 if X fails. Not the other way around, as the crowd does.
4. If you didn’t buy X at 7 or lower, buy it at 8. If it falls, you will top up and improve the entry price.
If you are tormented by the question “I didn’t buy it at 6, how can I buy it at 8 now?” - you must admit that you didn’t buy it at 6 because you’re a deer. If you don’t buy at 8, you’ll be an even bigger deer when X flies away by 10-12-15.
5. Never sell X on spot at a loss. This will insure against irrational (that is, stupid and meaningless) sales.
Always buy X when it is falling and there is fear in the market. This will insure against irrational (that is, stupid and senseless) purchases.
Now, for example, many people are thinking: should they buy Bitcoin at 65K, or is it expensive, because just recently it was at 55-57K?
This issue doesn’t bother us at all. Because I actively bought it below 60K. And now we have fixed a quarter of the position around 63500 and are calmly watching the development of events. If it goes to 60K, we’ll dial more. It will go to 70K - we have set fixation levels. Buying in the range of 57700-55500 gives you freedom of maneuver.
6. Always have an action plan for any situation. For example - X fell to 7 - buy it. Fell to 5.5 - buy more. Came at 10 - sell half.
Regardless of what various types of analysts say about X, you act according to your plan.
Your plan, your game, your money. And your profit.
The more money the crowd brings to the market, the more you take from it. If you act as it says.
