How do I take profits in the crypto market?

The first thing is to learn to save ur earned profit and prevent losses.

Instead of booking more profit .. let’s say if you start with a $30,000 account and take a loss of 5%, your account value will fall to $28,500.

This is also referred to as taking a 5% drawdown.

Now, if you make a profit of 5%, you will make $1425. This only brings the account back up to $29,925. You’re $75 short.

This can seem insignificant, but as the drawdown percentage increases, it becomes extremely harder to recover losses.

For example, it may not seem like much if you lose 1% of your trading account, as it only needs an increase of 1.01% to recover to its previously held position.

However, a drawdown of 20% requires a 25% return, while a 50% drawdown requires a massive 100% increase in profits to recover to the same balance.

The bigger your losses, the exponentially harder it will be to recover. That is the main reason we always limit our losses at 1%. If you’re in a situation where you lose 50% of your account, you’ll have to double your money just to get back to your original point.

Drawdowns Are Normal

For you to become a high-profit trader, you must create a trading strategy that will enable you to withstand these periods of losses.

Part of your trading plan is the risk management strategy.

If you practice these money management strategies with patience and discipline the reward will be amazing.

Periods of prolonged drawdown periods will occur at some point in your trading career.To think otherwise would be irrational.

Even the best hedge fund managers, and investors on earth post entire years of drawdowns in a row.

It’s easy to let greed creep up on you after three winning trades, and try to seize an opportunity by risking too much on a single trade. You can get badly hurt &repeating this behaviour might even lead to you quitting trading completely.
Remember, consistent profits will take you much further in life than gambling. If you master these principles in your trading, you’ll get very far in life.

#ftx

What Is opBNB? BNB’s Optimistic Layer 2 Rollup

What Is opBNB?

opBNB is a Layer 2 scaling solution for the BNB Chain. It is built on the OP Stack, and will offer users faster and cheaper transactions through optimistic rollups.

Key Takeaways

opBNB is an optimistic rollup network built to scale BSC. It is meant to take the bulk of the workload away from the mainnet and enable the whole network to perform better against increased demand. It uses a sequencer for transactions and a Batcher to package them into batches.

opBNB network attempts to achieve high throughput without sacrificing security by contracting the main network (BSC) for the final validation of transactions performed on its execution layer. A verifier is used to ensure the integrity of these transactions.

opBNB mainnet has launched after spending over a month in the testing phase, with the network will be gradually opened to the general public.

Characteristics of opBNB

Here are some features of the opBNB network:

Scalability

Layer 1 blcohchain like BSC and Ethereum handle all the core functions of blockchain operations (execution, consensus, settlement, data availability) at the network level. This means that there is a risk of network congestion during peak periods or spike in traffic, which results in high transaction fees, slow transactions, and poor user experience. 

Layer 2 networks are an execution layer built on top of the main network to enable scalability, offering users lower fees and faster transactions. In the case of opBNB, it utilizes optimistic rollups, where transactions that take place on opBNB are rolled up into a single transaction before being submitted to BNB.

Interoperability As opBNB is built on the OP Stack, it is interoperable with other Layer 2 platforms that utilize the OP Stack, such as Optimism and potentially Base. Moreover, opBNB’s EVM compatibility and support for Solidity helps to create an open and collaborative system across other OP chains, driving innovation.

#BNB #crypto2023

Good to be back 🤝🚀🚀🚀🙂
#BTC #BinanceTournament #crypto2023

Market is down don’t don’t sell hodl be patient remove fear in your portfolio #bitcoin

Whatever financial decision you make now will make great impact in your financial stability in the future so make the right decision for your future and grow your finances here are few Altcoins in my portfolio that I think has future potential that could change your life.

$BTC I choose bitcoin as my first alt coin because it’s permissionless which means it’s not controlled by the government there are no limits with bitcoin I think it has good potential to achieve financial freedom

$BNB is the official coin of Binance exchange the world number one exchange it can be used to pay lower exchange fees when making cryptocurrency transactions I think it’s for the future

$JASMY is designed to allow people control the use of their own personal data it has all time high of $4.99 current price is $0.0004
Always #dyor

As promised in my last post I will be sharing with you the results from this project (free airdrop) and how you can participate in the project it’s absolutely free . So the project name is $OVER protocol ; it is a truly decentralized layer1blockchain providing lightweight full nodes. According to coin telegraph, super block raised $8 million for $Over protocol the new layer1blockchain focusing on lightweight full nodes.

As layer1 blockchains have become faster and more established over time, the costs of bootstrapping and maintaining nodes have become increasingly expensive. As a consequence, blockchain applications have become challenging to operate without the use of costly equipment.
$OVER protocol is based on a protocol named (Ethanos) I think this project is a good one to try.
NB: this not a financial advice always dyor

$AUDIO is bullish 🚀🚀🚀

Greetings my fellow binancians, I come with a good news for you 😁 so I’ve been busy for days making research on some upcoming projects who offers free airdrop to gain more users. I have a few projects I commend based on my research I found out these projects has high potential and holds positivity to the community. It took me days to make this research so I will explain to you about the outcome and why I think these projects (free airdrop) can change your life. So many airdrops but very few are legit ones that can make you better in life that’s why I often read about them & make more research to know which ones are worth it. So I will be listing few of the ones I did research on & I will be giving detailed explanations to back it up

1. Nansen

2. Base

3. Over wallet
Check my next post & follow me to read in full

Which of these coins would you like to see soar ?

$BTC to $100,000

$ETH to $10,000

$BNB to $1000

$DOGE to $5

$LTC to $700

$Pepe to $0.0005

$Shiba to $0.005

Comment your favorite crypto currency

BRRAKING NEWS 😱😱😱😱

SEC Says Hex Founder Misappropriated 'Millions of Dollars of Investor Funds,' Bought Rare Black Diamond

The U.S. Securities and Exchange Commission (SEC) sued internet marketer Richard Schueler, known online as Richard Heart, and his projects Hex, PulseChain and PulseX, alleging he raised over $1 billion across three different unregistered securities offerings beginning in 2019. "The Hash" panel breaks down the regulator's allegations, including claims of luxury shopping spree
Follow me for more crypto news

Hey Binancians,

Did you miss $SUI and $ARKM airdrop on Binance? Well here is another great opportunity for all binancians with the new token to be launched on the Binance platform.

Binance is excited to announce the 36th project on Binance Launchpool - Sei (SEI), a layer 1 blockchain optimized for the exchange of digital assets. The webpage is estimated to be available in 5 hours, before the Launchpool starts. Here is a how you can participate in the campaign to absolutely free.
Users will be able to stake their BNB, TUSD & FDUSD into separate pools to farm SEI tokens over 30 days, with farming starting from 2023-08-02 00:00 (UTC).
Binance will then list SEI at 2023-08-15 12:00 (UTC) and open trading with SEI/BTC, SEI/USDT and SEI/BNB trading pairs. The Seed Tag will be applied to SEI.
Please follow &share for more updates

If you believe the future of finance is on cryptocurrency , your confidence may have been tested by the blockchain’s limit transactions per second.
Here are the coins I’m bullish on the coming month of August. I think each of this coins will make at least 20% next month with reasons
1. $LTC has rallied over 30% this year despite the up’s and down in the crypto market this year. Litecoin is set to undergo its third mining reward halving in early August, following which the per-block reward paid to miners will reduce by 50% to 6.25 coins from 12.5 coins. So I think it would be a good run for LTC

2. $DOGE (Doge coin) jumped as much as 5% on the back of Twitter's rebranding on Monday. The memecoin bucked the broader market slide as bitcoin slipped to under $29,100, I think it’s a good time for doge
Pls follow me🎁

The$DOGE price is $0.08, a change of 2.27% over the past 24 hours as of 11:45a.m. The recent price action in Dogecoin left the tokens market capitalization at $11,212,738,548.41. So far this year, Dogecoin has a change of 14.54%. Dogecoin is classified as a Currency under CoinDesks Digital Asset Classification Standard (DACS).
Doge is the native cryptocurrency of dogecoin, a parody cryptocurrency based on a viral internet meme of a Shiba Inu dog. At first, the crypto project was created purely as a mockery of other cryptocurrency projects that were being launched at the time.
The cryptocurrency is essentially a direct copy of $LTC code and can be used to transfer value over the internet like all other digital assets. Doge was never designed to have any real-world utility beyond being a simple blockchain-based payment system