As an ordinary person, I have gone through many failures and regrets in my life until 2012. Luckily, failures turned into great lessons, and I started to make great decisions since 2013. One is start investing in CryptoCurrency.
In this post, I would like to share trading tips that I learned and experienced.
No one is perfect and no one knows the future. Do not fully trust a single person. Be doubtful on others' opinion, what you hear, and even this post! There is only one fact - current price we see in the coinmarketcap and/or exchanges.
Do not panic sell and do not FOMO buy. Smart investors buy when there's blood in the street and sell when everyone is trying to buy.
It is far more important not to lose than make profit. If your initial fund is $1,000 and dropped 50% to $500, you need 100% gain to go back to $1,000, not 50% gain.
Often times, crypto market do not behave in a way that make any sense. Nothing we can do. Crypto is something human being never had dealt with in the past..
Read white paper and ask 2 questions before you invest. (1) why will people use it? and (2) why will demand go up for the coin (is there clear benefits holding coins?). What to consider when investing in CryptoCurrency for long-term?
You don't want to see market crashing? Market crash becomes great opportunity for smart investors because they are ready to react to it.
Always have cash in your portfolio. Read 6 one more time.
Investors will have better return than traders. Focus on big picture.
Please note this is my personal opinions and I hope all of us become very successful trading CryptoCurrency. I welcome readers to leave comments not only asking questions but also providing other opinions to me and to all readers.
