Before You Win, You Must Stop Losing 📑
You should always keep this in mind: Save your capital in the first place, profits will follow up.
Yes, it may sound weird, but it's way more difficult than you think since it involves avoiding many traps meant exclusively for new traders.
Here, I'm listing some extremely important points that should be followed by beginners trying their hand in crypto:
1️⃣ Stay away from futures.
You'll simply lose because you're no trader. Many creators will literally convince you that trading is super easy and fun. But the reality is just the opposite. Trading requires a hell lot of patience and practice. An experience of a few weeks won't make you profitable in the long run.
2️⃣ Stop buying signals and don't blindly follow whatever they say.
These self proclaimed experts will drain your money faster than you think. They have partnerships with crypto projects and will promote a certain crypto because they're paid to do so. In fact most of these experts don't even trade and they fill their pockets with your money in the name of signals
3️⃣ Market is always the king 👑
Stop listening to the masses; they're wrong most of the time. When you hear a hype about some coin, you should realise that it's too late to buy. And if you have some, it's time to sell. This happened with Shib and Doge in the last bull run. People bought late and many went into losses.
4️⃣ Invest only that you can afford to loose
If you have $5000 in your bank account, then only invest $300-500. Investing more than say $2000 or even higher will put you in a psychological stress when you incur losses. So don't get overwhelmed by emotions. Try to trade and even invest like a robot.
I hope this will help many brothers and sisters out there.
This is my personal opinion from my past experiences. Lend your support by hitting the like & share button and follow me for more such advice. Although I've never asked before, you can also tip me to reward for the hard work going in to bring such content.
Happy Investing 😄 🎉