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1. Ignore the “noise” Many naysayers in the media and financial sectors may preach that cryptocurrency is simply a fad, over-hyped speculation, or even a pyramid scheme. 2. Expect the unexpected However, significant volatility does exist in cryptocurrency markets which cannot be ignored. Experienced cryptocurrency investors are accustomed to huge price swings that you often don’t find in traditional markets. By mentally preparing for these unfavorable, and occasionally terrifying, investment performances, the intelligent crypto investor will be able to act rationally instead of emotionally in times of unexpected price drops. 3. Avoid a bad trade or investment strategy A common mistake for beginner cryptocurrency investors is joining what is known as a "pump and dump group". Certain social media communities or ‘gurus’ may even promise investment tips regarding a particular coin. You should avoid these types of places at all costs; when travelers go down these roads, they don’t often come back.
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1- The successful trader must determine the percentage of risk and possible loss before setting the profit target for each trade, because losing 5% needs a profit of 5.3% only to compensate for it. As for the loss of 90% of the price of the cryptocurrency, it requires an increase of 900% to compensate for this loss. Therefore it is advisable to calculate the risk before any trade. 2- It is important not to get attached to hope when the market goes down and to hang on to losing deals, especially when not following capital management and restricting the stop loss, so when relating to deals, if you are convinced of the currency you entered and its future, strengthen your entry and change your position to compensate for losses in the first rise of the currency 3- Do not enter deals in random currencies or trade in bad platforms, perhaps your management was correct and your currency analysis is good, but the failure of the currency or the lack of sufficient volume will lead you to loss 4- Never enter into a currency, no matter how good it is and is expected to increase by a large amount from your wallet, always choose a certain percentage to enter trades that have a minimum and higher than the size of your wallet 5- Always keep a part of your money in the wallet frozen in fixed currencies such as USDT, first to seize sudden opportunities and most importantly to consolidate your deals in extreme cases.