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People have lost everything in #crypto just because they don't do risk management.Â
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1ïžâŁ DiversifyÂ
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âȘïž Diversification is the only free lunch in investing.
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âȘïž Diversification helps investors lower their risks, but don't try to overdiversify, as it can hamper your returns too.
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2ïžâŁ Take profits
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âȘïž No one ever went broke taking profits.Â
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âȘïž Taking profits is the only way to be rich, so take profits.
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3ïžâŁ Don't sell everything.Â
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âȘïž Taking profits is good, but remember not to sell 100%.
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âȘïž Always keep 10%-15% as your moon bag in case the market pumps even harder.
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âȘïž Most people completely sold their $SOL and $FTM for 5x-10x only to watch them pull another 10x in a few months.
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4ïžâŁ Don't keep assets on CEXes
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âȘïž This is something I don't have to explain, as people already know this.Â
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âȘïž But still, many people keep their funds on CEXes as they think it's 100% safe.
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âȘïž Looking at #FTX and #WazirX, it's safe to say that there's no such thing as too big to fail.
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âȘïž If you're actively trading on CEXes then only keep trading funds there and rest on cold wallets.
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5ïžâŁ Focus on liquidityÂ
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âȘïž Buy when liquidity is entering the market.
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âȘïž Look out for narratives and coins on which liquidity is flowing and bet on that.