Read this post if you REALLY want to change your life this bullrun 💃
Here are some rules you HAVE to follow to make money with #crypto
Let's get right to it:
Rule 1: TAKE PROFIT
You haven't made $1 until you click the "sell" button and this is very important to understand this.
Unrealised gains don't mean shit.
So, how do you take profits?
Rule 2: SCALING OUT
This totally depends on your risk tolerance, we all have a different risk tolerance, but here's exactly what i do:
You already know, but i'm not into $BTC or $ETH, i'm only into #altcoin
Because the potential gains are higher, obviously.
So i start laddering out once my initial investment is up a minimum of 4X.
I start selling 10% of my bag, every 50% pump, once i'm up 4x.
Get it? it's pretty simple.
By doing that, i'm able to catch the absolute top & maximize my profits.
Rule 3: MOVE MONEY AROUND
This is probably one of the most important rules to follow if you want to make alot of money with crypto.
This might be the difference between making $100k and making $1 m.
Let's say one of the coins you're holding (A) is up 2x since you bought and another one (B) is up 10x and you invested the same amount in each. Let's take $10k as an example.
Your holdings on coin A are now worth $20k and your holdings on coin B are now worth $100k.
Sell 40% of coin B to put it in coin A, simply because it hasn't fully mooned yet.
You now have $60k in both coins. I'm telling you, rebalancing your portfolio every 2-3 months is crucial if you want to make money in this space.
Rule 4: DON'T USE CENTRALIZED EXCHANGES
You saw what happened with FTX, right? Well, i'm sure you don't want that to happen to you or happen again.
You can either get a wallet like metamask or trust wallet to store your coins there, or use ledger/trezor.
Personally, i use both for maximum diversification.
To sell/swap you can simply use uniswap if your token has a pair on ETH, or you can also use these services.
Who's Ready?
@Waseem_Ch #TwinsTulip #BinanceLaunchpoolHMSTR $BTC #Write2Earn!
