I will explain why it is important to learn money management, before entering the crypto world.
I'll ask why do you want to get into crypto?
It must be really hype right?
Many new influencers are joining crypto and continuing to invite people to play, and their patterns are predictable.
Come on, buy this #coin , later it will go to the moon or if their analysis is wrong and they say diamond hand, just hold it, don't sell, you'll regret it later.
oh yeah, I forgot the current catchphrase "everything will be crypto in time"
Okay, let's continue
Many people are discussed not far from;
technical analysis
fundamental analysis
until I got mental 😃 😃 😃
Well, the reason why I tell you to learn money management is so that if you experience a loss, you don't feel like you've lost out and then complain on social media or ask questions like this.
Bro, you said you wanted to go up, why did you dump it?
Okay, I'll copy my favorite sentence to impress a friend who just joined Crypto who always #bull and dumps it for stories.
Duh brother how is this, why landslide.
Where to play using tuition fees + borrowed money.
Please give me a solution, is it better for me to drop out of college and run away? Or just admit it but later get beaten up or die too, okay?
Oh, I'm joking too much,
So I assume you have savings of 100 million and then you want to join in the crypto hype.
Don't use all 100 million, but use what percentage of the money you are prepared to lose.
Okay, I'm ready to lose 10 million.
Wow, that's quite a large amount for a beginner who just joined, hehe
Then follow the influencer you followed earlier, he bought XRP immediately.
Wait a minute, 10 million must be divided again, not all of it, but 1% of 10 million.
that is 100 thousand, you buy that coin.
After profit, don't forget to sell immediately.
With the capital you have, just looking for a profit of 1-3% per day consistently can beat deposit interest.
10 million, then every day 1%.
if it's more than 1% just consider it a bonus.
already 30% per month = 3 million from the initial capital of 10 million.
What are you doing?
But I ask again, are you able to remain consistent?
and for one month if the price goes down, down and down 🤪
are you mentally ready to lose? 🤭🤭🤭
Because sometimes the ups and downs are uncertain, so your mental state can be affected and you become afraid to buy.
So money management must be prepared because besides that you can also be a greedy person and use the sentence "it will definitely go up".
Hold hold #hold , in my opinion, is the last sentence used by people who were forced to buy at the top and then went down.
If it keeps going down, isn't it better to cut loss and then buy again below?
It's a different story if the goal of Buy and Hold is Long Term.
That's all, I apologize if my sentence sounds like a curse, because I feel the need to say this so that beginners are prepared. I happen to be playing first so I try to tell things like this and often it is ignored. It doesn't mean I understand better, I am still learning.
The main reason for writing this is because there are so many influencers who join and invite their followers to join crypto. So I feel sorry to see many in the trader group complaining and most of them trying to find profit during these difficult times but instead losing money.
That's all, hopefully you always profit 🚀🚀🚀
Have a nice day 😘😘😘
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