SHOCKING TRUTH!
IT WILL SAVE YOU MONEY
DON'T INVEST IN CRYPTO BEFORE KNOWING THISš
Sometimes back during the late 2021 BTC bubble, I started investing in crypto. I just bought anything and any hyped crypto that was within my abilities.
A few months later everything went down! Bitcoin started dropping, the likes of doge, Mana e.t.c.,
Guess what I was still buying since it was cheaper! POOR Me!
I didnt know the truth until late 2022 after encountering severe losses.
HERE are the 5 things that will save you (No 2 will blow your mindš¤Æ)
1.Every altcoin follow the track of BTC
If BTC is bullish everything else (80% of altcoins) will automatically be bullish and viceversa in the bearish case.
2.Buy assests that are in uptrend, Sell assets that are in downtrend.
This is where the 99% get it wrong, they are obsessed with one direction of the market [BULLISH], In the end, they just buy assets without knowing if the asset is in uptrend or downtrend. They buy assets that are falling down as it happened to me when i started investing. STUDY PRICE ACTION (Know when markets are in uptrend or downtrend)...You ONLY have buy assets that are in uptrend in Higher timeframes like 1D 1W, 1M, Sell the assets that are in major downtrend)...IT WILL SAVE YOU MONEY
3. Don't go with the gurus' hype on certain assets...it only works if you know price action otherwise you will fall on your nose if you dont know the price action
4. IT IS NEVER CHEAP OR EXPENSIVE IN CRYPTO
I know some of you might be thinking that, you only have to buy assets that are very low in value...NO!...it doesn't work that way...Cheap in the market has deceived every investor and Expensive in the market has made people miss out on good opportunities.
ONLY PRICE ACTION WILL SAVE YOU.
5.RISK MANAGEMENT...It is consistent risk approach that is profitable, otherwise you are lying to yourself.
If you invest it all in one position, you might be lucky 1% of the time...but 99% of time you will lose.
Better risk consistently little by little in every position...You will last longer in this game.