🚨 **5 Essential Rules for New Traders (WARNING!)** 🚨
1. **Don't Rely on Paid Signals:** Avoid falling for schemes where traders charge monthly fees for "exclusive" signals. Trading knowledge is freely available online through platforms like Google or YouTube. You can even find valuable resources at your local library without spending a dime.
2. **Diversify Your Investments:** Never put all your eggs in one basket. Practice effective risk management by allocating only a small portion of your funds to high-risk investments. Remember, the crypto industry is volatile, and it's common for losses to outweigh gains, especially in the futures market.
3. **Be Skeptical of Technical Analysis (TA):** While TA has its place, it's not a silver bullet in the crypto market. Before making any investment decisions, consider various factors such as token unlocking schedules, market news, regulatory developments (like from the FED or SEC), and overall market conditions.
4. **Bitcoin Reigns Supreme:** While there are countless coins and tokens available, Bitcoin (BTC) remains the most secure and established cryptocurrency. Treat other assets as supplementary rather than essential to your portfolio. Remember, in the crypto world, you're responsible for your decisions, and there's no one to blame but yourself for gains or losses.
5. **It's a Money Game:** Understand that trading is purely financial; there's no divine intervention or external force determining your success or failure. Whether you win big or get liquidated, it's all part of the game. Take responsibility for your actions and decisions, and always strive to learn and improve.