Here are 10 mistakes you should avoid and some practical solutions to maximize your profits.
📌Holding too many altcoins: Don't diversify your portfolio too much. Focus on 5-10 high conviction coins.
📌Not taking profits: Set realistic selling targets and take profits regularly.
📌FOMO (Fear of Missing Out): Don't buy coins that have already surged. Accumulate quality coins before the hype.
📌Ignoring narratives: Diversify into leading narratives like Layer 1s, AI, Gaming, #RWA, and DePIN.
📌Acting on emotions: Trust in research and logic, not fear or greed.
📌Not having a plan: Write down buying levels, selling targets, and profit goals in advance.
📌Storing on CEXs: Use hardware wallets like Ledger/Tangem for secure storage.
📌Believing in 'moonboy' targets: Use Market Capitalization, Technical Analysis, and fundamentals to set achievable goals.
📌Ignoring taxes: Use tools like CoinTracker or Koinly to manage taxes easily.
📌Remember that risk management and discipline are key to maximizing your profits in the cryptocurrency market.
👉🏻Share your experiences and questions in the comments and follow me to stay informed!👈🏻
$BTC #bullrun2024📈📈 $SOL #mistake $XRP
