THE MOST UNCONVENTIONAL TRADING TIP TO UPLIFT YOU FROM A ROOKIE TO ROCKSTAR IS -

TAKE EVERYTHING CONVENTIONAL SERIOUSLY

I know, the raw unprocessed trading or your personal style might be working for you so well. But there is a reason why most, if not all successful traders vouch for the fundamentals.

Markets are different every year, assets will be different and within a year there are multiple different phases. For ex, some days are news days, some are international event days, some trading days are project specific and some days are unseen and never happened like COVID phase.

There will be times when you would anticipate the market, always to a varied degree though. And there will be times that you can never anticipate.

When nothing will work, your grasp over the fundamentals will save you from getting huge dents in your capital, if it wouldn’t help you in expanding your portfolio.

But alas, I see so so many people that take the basics lightly. They rarely use stop losses. Or assess their risk appetite before jumping on a trade. And rarely ever people plan an exit. Let alone scrutinising the project history. Or getting done with, if its not your day.

May be you are the one who’s like SL.. SL, “I know we should minimise losses, stop throwing a 10 years old’s wisdom at my face. I stick to the screen. And I always take a comfortable exit.”

Okay, you might for now, while dealing with a single trade. Or minuscule Capital. But eventually as you grow, a system based on strong fundamentals will become a must or MARK my words - your journey here is going to be short lived.

As you will end up training your mind in a certain way, and destroying your trade psychology irrespective of how much ever smart you may think you are.

So learn implementing the conventional with utmost ease and make it your second nature before breaking and transcending it with your personal style and pioneering custom strategies.

There are no shortcuts to any place worth reaching.

#TradingTips #TradingTipOfTheDay #TraderMistakes

Crypto Compass: Navigate the Wild World of Digital Coins with Confidence!

EMOTIONS LEAD TO BAD INVESTMENT DECISIONS

Making profits is all about the timings, when to buy and exit your holdings.

When people buy a crypto after thorough research and it goes up by sixty percent, they exit. They exit in fear of losing what they have already earned. Eventually also losing the returns they were going to make.

And if it starts to go down they refrain to get out of it and and wait for a rebound, which rarely ever happens and they end up with their money stuck in a miserable investment.

ALWAYS HAVE AN INVESTMENT PLAN

Always question yourself what is your risk appetite regarding a particular coin before buying it. Pre define a threshold to exit it if it goes down a certain limit.

Do not invest all your money in projects with low market cap (like ranked beyond 50), keep some of it in top 10 or other less risky crypto assets.

YOU WOULD LOSE

Don’t panic, it is fine. I have yet to meet a person who have never lose a single trade in his investing career.

There would be times when things would get out of your hands and you would lose. Do not end up getting discouraged or digging your grave by investing whatever you have to cover up your losses.

People have ended up losing everything while trying to cover whatever they have already lost. Do not make investment decisions in an unstable emotional state and with irrational behavior.

Give yourself some time to process your situation and only invest with a calm and rational mindset. If you cannot tolerate 50% loss in your portfolio, you shouldn’t be in crypto.

STAY UPDATED

Keep following the crypto news along with brushing your knowledge about the blockchain and crypto space. And especially stay updated what's happening to the projects you have invested in and where they are headed.

If you will understand and follow just these very fundamental and basic things. I can ensure you that your ride will be smoother and easier with less headaches.

#TraderMistakes #Tips #traders #investors